Acorah Software Products - Accounts Production 16.3.350 false true 31 October 2023 1 November 2022 false 1 November 2023 31 October 2024 31 October 2024 02737626 Mrs M Fairbairn Mr I E Fairbairn Mr I E Fairbairn iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 02737626 2023-10-31 02737626 2024-10-31 02737626 2023-11-01 2024-10-31 02737626 frs-core:CurrentFinancialInstruments 2024-10-31 02737626 frs-core:FurnitureFittings 2024-10-31 02737626 frs-core:FurnitureFittings 2023-11-01 2024-10-31 02737626 frs-core:FurnitureFittings 2023-10-31 02737626 frs-core:MotorVehicles 2024-10-31 02737626 frs-core:MotorVehicles 2023-11-01 2024-10-31 02737626 frs-core:MotorVehicles 2023-10-31 02737626 frs-core:CapitalRedemptionReserve 2024-10-31 02737626 frs-core:SharePremium 2024-10-31 02737626 frs-core:ShareCapital 2024-10-31 02737626 frs-core:RetainedEarningsAccumulatedLosses 2024-10-31 02737626 frs-bus:PrivateLimitedCompanyLtd 2023-11-01 2024-10-31 02737626 frs-bus:FilletedAccounts 2023-11-01 2024-10-31 02737626 frs-bus:SmallEntities 2023-11-01 2024-10-31 02737626 frs-bus:AuditExempt-NoAccountantsReport 2023-11-01 2024-10-31 02737626 frs-bus:SmallCompaniesRegimeForAccounts 2023-11-01 2024-10-31 02737626 frs-core:CostValuation 2023-10-31 02737626 frs-core:CostValuation 2024-10-31 02737626 frs-core:ProvisionsForImpairmentInvestments 2023-10-31 02737626 frs-core:ProvisionsForImpairmentInvestments 2024-10-31 02737626 frs-bus:Director1 2023-11-01 2024-10-31 02737626 frs-bus:Director2 2023-11-01 2024-10-31 02737626 frs-bus:CompanySecretary1 2023-11-01 2024-10-31 02737626 frs-countries:EnglandWales 2023-11-01 2024-10-31 02737626 2022-10-31 02737626 2023-10-31 02737626 2022-11-01 2023-10-31 02737626 frs-core:CurrentFinancialInstruments 2023-10-31 02737626 frs-core:CapitalRedemptionReserve 2023-10-31 02737626 frs-core:SharePremium 2023-10-31 02737626 frs-core:ShareCapital 2023-10-31 02737626 frs-core:RetainedEarningsAccumulatedLosses 2023-10-31
Registered number: 02737626
Vfm Associates Limited
Financial Statements
For The Year Ended 31 October 2024
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 02737626
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 110,458 97,589
Investments 5 129,480 129,480
239,938 227,069
CURRENT ASSETS
Debtors 6 304,936 268,066
Cash at bank and in hand 635,423 693,568
940,359 961,634
Creditors: Amounts Falling Due Within One Year 7 (320,048 ) (328,877 )
NET CURRENT ASSETS (LIABILITIES) 620,311 632,757
TOTAL ASSETS LESS CURRENT LIABILITIES 860,249 859,826
PROVISIONS FOR LIABILITIES
Deferred Taxation - (3,504 )
NET ASSETS 860,249 856,322
CAPITAL AND RESERVES
Called up share capital 8 1,000 1,000
Share premium account 5,570 5,570
Capital redemption reserve 35 35
Profit and Loss Account 853,644 849,717
SHAREHOLDERS' FUNDS 860,249 856,322
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Page 2
For the year ending 31 October 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their 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 I E Fairbairn
Director
24 March 2025
The notes on pages 3 to 5 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Vfm Associates Limited is a private company, limited by shares, incorporated in England & Wales, registered number 02737626 . The registered office is 5 Bramleys Barn, The Menagerie Escrick, York, North Yorkshire, YO19 6ET.
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. 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.
Rendering of services
Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. 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:
Motor Vehicles 25% reducing balance
Fixtures & Fittings 15% reducing balance
2.4. 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.
2.5. 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. 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. The carrying amount of deferred tax assets is reviewed at the end of each reporting period.
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.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 11 (2023: 9)
11 9
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4. Tangible Assets
Motor Vehicles Fixtures & Fittings Total
£ £ £
Cost
As at 1 November 2023 85,283 152,792 238,075
Additions 56,074 5,171 61,245
Disposals (28,000 ) - (28,000 )
As at 31 October 2024 113,357 157,963 271,320
Depreciation
As at 1 November 2023 20,541 119,945 140,486
Provided during the period 26,048 5,703 31,751
Disposals (11,375 ) - (11,375 )
As at 31 October 2024 35,214 125,648 160,862
Net Book Value
As at 31 October 2024 78,143 32,315 110,458
As at 1 November 2023 64,742 32,847 97,589
5. Investments
Subsidiaries Other Total
£ £ £
Cost
As at 1 November 2023 20,954 108,526 129,480
As at 31 October 2024 20,954 108,526 129,480
Provision
As at 1 November 2023 - - -
As at 31 October 2024 - - -
Net Book Value
As at 31 October 2024 20,954 108,526 129,480
As at 1 November 2023 20,954 108,526 129,480
The company owns 80% of the issued ordinary share capital of Value For Money S L, a company registered in Spain. At 31 October 2024 the aggregate of its capital and reserves was £270,146 (2023: £205,997). In the year ended 31 October 2024 it made a profit of £84,257 (2023: £45,139). Under the provision of section 398 of the Companies Act 2006 the company is exempt from preparing consolidated accounts and has not done so, therefore the accounts show information about the company as an individual entity.
The company owns 50% of the issued ordinary share capital of SAS VFM Associates France, a company
registered in France. At 30 September 2024 the aggregate of its capital and reserves was £45,643 (2023: £74,412).  In the year ended 30 September 2024 it made a loss of £9,483 (2023: loss of £27,003). Under the provision of section 398 of the Companies Act 2006 the company is exempt from preparing consolidated accounts and has not done so, therefore the accounts show information about the company as an individual entity.
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6. Debtors
2024 2023
£ £
Due within one year
Trade debtors 298,134 259,653
Other debtors 6,802 8,413
304,936 268,066
7. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 123,288 37,580
Other creditors 121,230 237,477
Taxation and social security 75,530 53,820
320,048 328,877
8. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 1,000 1,000
9. Related Party Transactions
I E J Fairbairn
Director
During the year a loan account subsisted with the director. The director advanced £416 to the company and the company repaid £1,664 to the director. At the year end the balance due to the director was £416 (2023: £1,664). The loan is interest free and under no specific repayment terms.
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