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Registered number: 14246380
The Tipi Company (International) Ltd
Unaudited Financial Statements
For The Year Ended 30 September 2024
Ascendis Group
Chartered Certified Accountants, Taxation and Business Advisors
Unit 3, Building 2, The Colony Wilmslow
Altrincham Road
Wilmslow
Cheshire
SK9 4LY
Contents
Page
Accountant's Report 1
Balance Sheet 2—3
Notes to the Financial Statements 4—6
Page 1
Accountant's Report
Report to the director on the preparation of the unaudited statutory accounts of The Tipi Company (International) Ltd for the year ended 30 September 2024
To assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of The Tipi Company (International) Ltd which comprise the Profit and Loss Account, the Balance Sheet and the related notes, from the company’s accounting records and from information and explanations you have given us.
As a practising member of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at http://www.accaglobal.com/en/member/professional-standards/rules-standards/acca-rulebook.html.
This report is made to the director of The Tipi Company (International) Ltd , as a body, in accordance with the terms of our engagement letter dated 28th May 2024. Our work has been undertaken solely to prepare for your approval the accounts of The Tipi Company (International) Ltd and state those matters that we have agreed to state to the director of The Tipi Company (International) Ltd , as a body, in this report in accordance with the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/content/dam/ACCA_Global/Technical/fact/technical-factsheet-163.pdf. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than The Tipi Company (International) Ltd and its director as a body for our work or for this report.
It is your duty to ensure that The Tipi Company (International) Ltd has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit or loss of The Tipi Company (International) Ltd . You consider that The Tipi Company (International) Ltd is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit or a review of the accounts of The Tipi Company (International) Ltd . For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the financial statements.
26th June 2025
Ascendis Group
Chartered Certified Accountants, Taxation and Business Advisors
Unit 3, Building 2, The Colony Wilmslow
Altrincham Road
Wilmslow
Cheshire
SK9 4LY
Page 1
Page 2
Balance Sheet
Registered number: 14246380
30 September 2024 30 September 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 4,175 658
4,175 658
CURRENT ASSETS
Stocks 5 290,765 335,993
Debtors 6 60,309 28,488
Cash at bank and in hand 140,622 57,735
491,696 422,216
Creditors: Amounts Falling Due Within One Year 7 (478,201 ) (343,079 )
NET CURRENT ASSETS (LIABILITIES) 13,495 79,137
TOTAL ASSETS LESS CURRENT LIABILITIES 17,670 79,795
PROVISIONS FOR LIABILITIES
Deferred Taxation - (164 )
NET ASSETS 17,670 79,631
CAPITAL AND RESERVES
Called up share capital 9 100 100
Profit and Loss Account 17,570 79,531
SHAREHOLDERS' FUNDS 17,670 79,631
Page 2
Page 3
For the year ending 30 September 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr Anthony Harthern
Director
26th June 2025
The notes on pages 4 to 6 form part of these financial statements.
Page 3
Page 4
Notes to the Financial Statements
1. General Information
The Tipi Company (International) Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 14246380 . The registered office is Unit 1, Jubilee Works, Vale Street, Bolton, BL2 6QF.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Going Concern Disclosure
The accounts have been prepared on a going concern basis. This assumption may not be valid since at the balance sheet date the company has net liabilities of £2,897. The validity of the going concern assumption therefore depends on the continued support of the directors, suppliers and the companies bankers and other providers of finance.
2.3. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
2.4. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Plant & Machinery 25% - on straight line method
Fixtures & Fittings 25% - on reducing balance method
Computer Equipment 25% - on straight line method
2.5. Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
2.6. Foreign Currencies
Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate ruling on the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
2.7. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
...CONTINUED
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Page 5
2.7. Taxation - continued
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current and deferred tax are recognised in profit or loss for the year, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case current and deferred tax are recognised in other comprehensive income or directly in equity respectively.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 14 (2023: 16)
14 16
4. Tangible Assets
Plant & Machinery Fixtures & Fittings Computer Equipment Total
£ £ £ £
Cost
As at 1 October 2023 - 667 - 667
Additions 1,350 545 2,256 4,151
As at 30 September 2024 1,350 1,212 2,256 4,818
Depreciation
As at 1 October 2023 - 9 - 9
Provided during the period 120 230 284 634
As at 30 September 2024 120 239 284 643
Net Book Value
As at 30 September 2024 1,230 973 1,972 4,175
As at 1 October 2023 - 658 - 658
5. Stocks
30 September 2024 30 September 2023
£ £
Stock 290,765 335,993
6. Debtors
30 September 2024 30 September 2023
£ £
Due within one year
Trade debtors 25,750 61
Other debtors 14,863 28,327
40,613 28,388
Due after more than one year
Amounts owed by group undertakings 100 100
Other debtors 19,596 -
19,696 100
60,309 28,488
Page 5
Page 6
7. Creditors: Amounts Falling Due Within One Year
30 September 2024 30 September 2023
£ £
Trade creditors 295,397 193,870
Bank loans and overdrafts - 2
Amounts owed to group undertakings 45,986 46,938
Other creditors 77,993 82,756
Taxation and social security 58,825 19,513
478,201 343,079
8. Provisions for Liabilities
Deferred Tax Total
£ £
As at 1 October 2023 164 164
Deferred taxation (19,760 ) (19,760 )
Balance at 30 September 2024 (19,596 ) (19,596)
9. Share Capital
30 September 2024 30 September 2023
Allotted, called up but not fully paid £ £
100 Ordinary Shares of £ 1.00 each 100 100
Page 6