Acorah Software Products - Accounts Production 16.3.350 false true 31 October 2023 17 October 2022 false 1 November 2023 31 October 2024 31 October 2024 14422210 Mr Bradley Wilson Mr Cameron Dewey iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 14422210 2023-10-31 14422210 2024-10-31 14422210 2023-11-01 2024-10-31 14422210 frs-core:CurrentFinancialInstruments 2024-10-31 14422210 frs-core:ComputerEquipment 2024-10-31 14422210 frs-core:ComputerEquipment 2023-11-01 2024-10-31 14422210 frs-core:ComputerEquipment 2023-10-31 14422210 frs-core:FurnitureFittings 2024-10-31 14422210 frs-core:FurnitureFittings 2023-11-01 2024-10-31 14422210 frs-core:FurnitureFittings 2023-10-31 14422210 frs-core:ShareCapital 2024-10-31 14422210 frs-core:RetainedEarningsAccumulatedLosses 2024-10-31 14422210 frs-bus:PrivateLimitedCompanyLtd 2023-11-01 2024-10-31 14422210 frs-bus:FilletedAccounts 2023-11-01 2024-10-31 14422210 frs-bus:SmallEntities 2023-11-01 2024-10-31 14422210 frs-bus:AuditExempt-NoAccountantsReport 2023-11-01 2024-10-31 14422210 frs-bus:SmallCompaniesRegimeForAccounts 2023-11-01 2024-10-31 14422210 frs-bus:Director1 2023-11-01 2024-10-31 14422210 frs-bus:Director2 2023-11-01 2024-10-31 14422210 frs-countries:EnglandWales 2023-11-01 2024-10-31 14422210 2022-10-16 14422210 2023-10-31 14422210 2022-10-17 2023-10-31 14422210 frs-core:CurrentFinancialInstruments 2023-10-31 14422210 frs-core:ShareCapital 2023-10-31 14422210 frs-core:RetainedEarningsAccumulatedLosses 2023-10-31
Registered number: 14422210
Kudos Accountants Limited
Unaudited Financial Statements
For The Year Ended 31 October 2024
Contents
Page
Balance Sheet 1
Notes to the Financial Statements 2—4
Page 1
Balance Sheet
Registered number: 14422210
31 October 2024 31 October 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 7,588 8,039
7,588 8,039
CURRENT ASSETS
Stocks 5 212,381 216,352
Debtors 6 248,997 268,745
Cash at bank and in hand 51,166 25,215
512,544 510,312
Creditors: Amounts Falling Due Within One Year 7 (265,936 ) (376,205 )
NET CURRENT ASSETS (LIABILITIES) 246,608 134,107
TOTAL ASSETS LESS CURRENT LIABILITIES 254,196 142,146
NET ASSETS 254,196 142,146
CAPITAL AND RESERVES
Called up share capital 8 100 100
Profit and Loss Account 254,096 142,046
SHAREHOLDERS' FUNDS 254,196 142,146
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 Bradley Wilson
Director
Mr Cameron Dewey
Director
8th May 2025
The notes on pages 2 to 4 form part of these financial statements.
Page 1
Page 2
Notes to the Financial Statements
1. General Information
Kudos Accountants Limited is a private company, limited by shares, incorporated in England & Wales, registered number 14422210 . The registered office is 15 Front Street, Sherburn Hill, Durham, Co. Durham, DH6 1PA.
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:
Fixtures & Fittings 20% reducing balance
Computer Equipment 33% on cost
2.4. 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.
2.5. 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. 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 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.
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Page 3
2.6. Government Grant
Government grants are recognised in the profit and loss account in an appropriate manner that matches them with the expenditure towards which they are intended to contribute.
Grants for immediate financial support or to cover costs already incurred are recognised immediately in the profit and loss account. Grants towards general activities of the entity over a specific period are recognised in the profit and loss account over that period.
Grants towards fixed assets are recognised over the expected useful lives of the related assets and are treated as deferred income and released to the profit and loss account over the useful life of the asset concerned.
All grants in the profit and loss account are recognised when all conditions for receipt have been complied with.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 13 (2023: 10)
13 10
4. Tangible Assets
Fixtures & Fittings Computer Equipment Total
£ £ £
Cost
As at 1 November 2023 2,900 7,581 10,481
Additions - 3,434 3,434
As at 31 October 2024 2,900 11,015 13,915
Depreciation
As at 1 November 2023 394 2,048 2,442
Provided during the period 501 3,384 3,885
As at 31 October 2024 895 5,432 6,327
Net Book Value
As at 31 October 2024 2,005 5,583 7,588
As at 1 November 2023 2,506 5,533 8,039
5. Stocks
31 October 2024 31 October 2023
£ £
Work in progress 212,381 216,352
6. Debtors
31 October 2024 31 October 2023
£ £
Due within one year
Trade debtors 225,418 247,145
Other debtors 23,579 21,600
248,997 268,745
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Page 4
7. Creditors: Amounts Falling Due Within One Year
31 October 2024 31 October 2023
£ £
Trade creditors 45,906 110,668
Other creditors 107,324 189,199
Taxation and social security 112,706 76,338
265,936 376,205
8. Share Capital
31 October 2024 31 October 2023
£ £
Called Up Share Capital not Paid 100 100
Amount of Allotted, Called Up Share Capital 100 100
Page 4