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Registered number: 11680714
Food Story Media Ltd
Unaudited Financial Statements
For The Year Ended 30 November 2024
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 11680714
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 8,592 8,780
8,592 8,780
CURRENT ASSETS
Debtors 5 123,914 31,248
Cash at bank and in hand 29,780 11,200
153,694 42,448
Creditors: Amounts Falling Due Within One Year 6 (155,305 ) (50,457 )
NET CURRENT ASSETS (LIABILITIES) (1,611 ) (8,009 )
TOTAL ASSETS LESS CURRENT LIABILITIES 6,981 771
Creditors: Amounts Falling Due After More Than One Year 7 (5,717 ) (11,398 )
PROVISIONS FOR LIABILITIES
Deferred Taxation (2,148 ) (1,580 )
NET LIABILITIES (884 ) (12,207 )
CAPITAL AND RESERVES
Called up share capital 8 1 1
Profit and Loss Account (885 ) (12,208 )
SHAREHOLDERS' FUNDS (884) (12,207)
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For the year ending 30 November 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. N M Snoddon
Director
9 July 2025
The notes on pages 3 to 5 form part of these financial statements.
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Notes to the Financial Statements
1. General Information
Food Story Media Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 11680714 . The registered office is Unit 1, 6 Osborn Street, London, E1 6TD.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
2.2. Going Concern Disclosure
The directors have not identified any material uncertainties related to events or conditions that may cast significant doubt about the company's ability to continue as a going concern.
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 rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
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.
2.4. Tangible Fixed Assets and Depreciation
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent 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:
Machinery and equipment 33% Straight line
Fixtures and fittings 20% Straight line
Computer equipment 33% Straight line
2.5. Financial Instruments
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the entity after deducting all of its financial liabilities.
Where the contractual obligations of financial instruments (including share capital) are equivalent to a similar debt instrument, those financial instruments are classed as financial liabilities. Financial liabilities are presented as such in the balance sheet. Finance costs and gains or losses relating to financial liabilities are included in the profit and loss account. Finance costs are calculated so as to produce a constant rate of return on the outstanding liability.
Where the contractual terms of share capital do not have any terms meeting the definition of a financial liability then this is classed as an equity instrument. Dividends and distributions relating to equity instruments are debited direct to equity.
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.
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2.7. Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
2.8. Pensions
The company operates a defined pension contribution scheme. Contributions are charged to the profit and loss account as they become payable in accordance with the rules of the scheme.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 2 (2023: 3)
2 3
4. Tangible Assets
Machinery and equipment Fixtures and fittings Computer equipment Total
£ £ £ £
Cost
As at 1 December 2023 12,834 2,305 17,336 32,475
Additions 2,065 904 3,481 6,450
Disposals - - (3,249 ) (3,249 )
As at 30 November 2024 14,899 3,209 17,568 35,676
Depreciation
As at 1 December 2023 6,589 1,253 15,853 23,695
Provided during the period 3,633 642 1,731 6,006
Disposals - - (2,617 ) (2,617 )
As at 30 November 2024 10,222 1,895 14,967 27,084
Net Book Value
As at 30 November 2024 4,677 1,314 2,601 8,592
As at 1 December 2023 6,245 1,052 1,483 8,780
5. Debtors
2024 2023
£ £
Due within one year
Trade debtors 101,382 23,631
Other debtors 22,532 7,617
123,914 31,248
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6. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 1,810 500
Bank loans and overdrafts 4,904 2,823
Other creditors 135,820 20,926
Taxation and social security 12,771 26,208
155,305 50,457
7. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Bank loans 5,717 11,398
8. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 1 1
9. Other Commitments
The total of future minimum lease payments under non-cancellable operating leases are as following:
2024 2023
£ £
Not later than one year - 28,164
Later than one year and not later than five years - 8,215
- 36,379
10. Directors Advances, Credits and Guarantees
A director has a brought forward advance from the company of £3,695. During the year, the director received furthers advances totalling £25,740 and repaid amounts totalling £10,842. All advances are repayable on demand. The advance carried forward is £18,593.
11. Related Party Transactions
The following related party transactions were undertaken during the year:
Dividends were paid to the director in respect of his shareholdings totalling £9,500 (2023: £29,000).
The aggregate remuneration paid to key management personnel for the year was £38,066 (2023: £27,720).
No further transactions with related parties were undertaken such as are required to be disclosed in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
12. Going Concern
The company is able to meet its day to day working capital requirements through the support of the directors and the company's creditors. Therefore the directors consider it appropriate to prepare financial statements on the going concern basis.
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