Acorah Software Products - Accounts Production 16.3.350 false true true 29 February 2024 1 March 2023 false 1 March 2024 28 February 2025 28 February 2025 12406305 Mr Luke Kitchen Mrs Joanne Kitchen iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 12406305 2024-02-29 12406305 2025-02-28 12406305 2024-03-01 2025-02-28 12406305 frs-core:CurrentFinancialInstruments 2025-02-28 12406305 frs-core:Non-currentFinancialInstruments 2025-02-28 12406305 frs-core:SharePremium 2025-02-28 12406305 frs-core:ShareCapital 2025-02-28 12406305 frs-core:RetainedEarningsAccumulatedLosses 2025-02-28 12406305 frs-bus:PrivateLimitedCompanyLtd 2024-03-01 2025-02-28 12406305 frs-bus:FilletedAccounts 2024-03-01 2025-02-28 12406305 frs-bus:SmallEntities 2024-03-01 2025-02-28 12406305 frs-bus:AuditExempt-NoAccountantsReport 2024-03-01 2025-02-28 12406305 frs-bus:SmallCompaniesRegimeForAccounts 2024-03-01 2025-02-28 12406305 frs-bus:Director1 2024-03-01 2025-02-28 12406305 frs-bus:Director2 2024-03-01 2025-02-28 12406305 frs-countries:EnglandWales 2024-03-01 2025-02-28 12406305 2023-02-28 12406305 2024-02-29 12406305 2023-03-01 2024-02-29 12406305 frs-core:CurrentFinancialInstruments 2024-02-29 12406305 frs-core:Non-currentFinancialInstruments 2024-02-29 12406305 frs-core:SharePremium 2024-02-29 12406305 frs-core:ShareCapital 2024-02-29 12406305 frs-core:RetainedEarningsAccumulatedLosses 2024-02-29
Registered number: 12406305
Embracing Future Potential Ltd
Unaudited Financial Statements
For The Year Ended 28 February 2025
Contents
Page
Statement of Financial Position 1
Notes to the Financial Statements 2—3
Page 1
Statement of Financial Position
Registered number: 12406305
2025 2024
Notes £ £ £ £
CURRENT ASSETS
Debtors 4 19,931 33,335
Cash at bank and in hand 26,514 22,110
46,445 55,445
Creditors: Amounts Falling Due Within One Year 5 (56,756 ) (118,950 )
NET CURRENT ASSETS (LIABILITIES) (10,311 ) (63,505 )
TOTAL ASSETS LESS CURRENT LIABILITIES (10,311 ) (63,505 )
Creditors: Amounts Falling Due After More Than One Year 6 (102,049 ) (72,905 )
NET LIABILITIES (112,360 ) (136,410 )
CAPITAL AND RESERVES
Called up share capital 7 120 120
Share premium account 99,980 99,980
Income Statement (212,460 ) (236,510 )
SHAREHOLDERS' FUNDS (112,360) (136,410)
For the year ending 28 February 2025 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 Income Statement.
On behalf of the board
Mr Luke Kitchen
Director
8 July 2025
The notes on pages 2 to 3 form part of these financial statements.
Page 1
Page 2
Notes to the Financial Statements
1. General Information
Embracing Future Potential Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 12406305 . The registered office is The Courtyard, Oakwood Park Business Centre, Harrogate, HG3 3BF.
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
When preparing the financial statements, the directors have made an assessment of the company's ability to continue as a going concern. The company is considered a going concern as the directors have no intention to liquidate the company or to cease trading. In assessing whether the going concern asumption is appropriate, the directors have taken into account all available information about the future, which is at least, but is not limited to, twelve months from the date when the financial statements are authorised for issue
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.
2.4. 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.
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 or deferred tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also 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: 1 (2024: 1)
1 1
4. Debtors
2025 2024
£ £
Due within one year
Trade debtors 4,800 12,348
Other debtors 15,131 20,987
19,931 33,335
Page 2
Page 3
5. Creditors: Amounts Falling Due Within One Year
2025 2024
£ £
Trade creditors 14,087 73,340
Bank loans and overdrafts 6,798 5,389
Other creditors 32,076 25,697
Taxation and social security 3,795 14,524
56,756 118,950
6. Creditors: Amounts Falling Due After More Than One Year
2025 2024
£ £
Bank loans 29,395 37,024
Other creditors 72,654 35,881
102,049 72,905
7. Share Capital
2025 2024
£ £
Allotted, Called up and fully paid 120 120
Page 3