Acorah Software Products - Accounts Production 16.4.675 false true 31 October 2023 1 November 2022 false 1 November 2023 31 October 2024 31 October 2024 08247159 Mrs Karina Blanco-Usher Mr Shaun Blanco-Usher iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 08247159 2023-10-31 08247159 2024-10-31 08247159 2023-11-01 2024-10-31 08247159 frs-core:CurrentFinancialInstruments 2024-10-31 08247159 frs-core:Non-currentFinancialInstruments 2024-10-31 08247159 frs-core:ComputerEquipment 2024-10-31 08247159 frs-core:ComputerEquipment 2023-11-01 2024-10-31 08247159 frs-core:ComputerEquipment 2023-10-31 08247159 frs-core:DevelopmentCostsCapitalisedDevelopmentExpenditure 2023-11-01 2024-10-31 08247159 frs-core:OtherResidualIntangibleAssets 2024-10-31 08247159 frs-core:OtherResidualIntangibleAssets 2023-11-01 2024-10-31 08247159 frs-core:OtherResidualIntangibleAssets 2023-10-31 08247159 frs-core:ShareCapital 2024-10-31 08247159 frs-core:RetainedEarningsAccumulatedLosses 2024-10-31 08247159 frs-bus:PrivateLimitedCompanyLtd 2023-11-01 2024-10-31 08247159 frs-bus:FilletedAccounts 2023-11-01 2024-10-31 08247159 frs-bus:SmallEntities 2023-11-01 2024-10-31 08247159 frs-bus:AuditExempt-NoAccountantsReport 2023-11-01 2024-10-31 08247159 frs-bus:SmallCompaniesRegimeForAccounts 2023-11-01 2024-10-31 08247159 frs-bus:Director1 2023-11-01 2024-10-31 08247159 frs-bus:Director1 2023-10-31 08247159 frs-bus:Director1 2024-10-31 08247159 frs-bus:Director2 2023-11-01 2024-10-31 08247159 frs-bus:Director2 2023-10-31 08247159 frs-bus:Director2 2024-10-31 08247159 frs-countries:EnglandWales 2023-11-01 2024-10-31 08247159 2022-10-31 08247159 2023-10-31 08247159 2022-11-01 2023-10-31 08247159 frs-core:CurrentFinancialInstruments 2023-10-31 08247159 frs-core:Non-currentFinancialInstruments 2023-10-31 08247159 frs-core:ShareCapital 2023-10-31 08247159 frs-core:RetainedEarningsAccumulatedLosses 2023-10-31
Registered number: 08247159
LETTERS OF NOTE LTD
Unaudited Financial Statements
For The Year Ended 31 October 2024
MAP ACCOUNTANTS LTD
16 Blackfriars Street
Manchester
M3 5BQ
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—6
Page 1
Balance Sheet
Registered number: 08247159
2024 2023
Notes £ £ £ £
FIXED ASSETS
Intangible Assets 4 3,684 4,860
Tangible Assets 5 2,165 2,267
5,849 7,127
CURRENT ASSETS
Debtors 6 42,720 47,659
Cash at bank and in hand 330 1,946
43,050 49,605
Creditors: Amounts Falling Due Within One Year 7 (29,101 ) (34,176 )
NET CURRENT ASSETS (LIABILITIES) 13,949 15,429
TOTAL ASSETS LESS CURRENT LIABILITIES 19,798 22,556
Creditors: Amounts Falling Due After More Than One Year 8 (17,266 ) (21,022 )
PROVISIONS FOR LIABILITIES
Deferred Taxation 9 (1,462 ) (1,354 )
NET ASSETS 1,070 180
CAPITAL AND RESERVES
Called up share capital 10 100 100
Profit and Loss Account 970 80
SHAREHOLDERS' FUNDS 1,070 180
Page 1
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
Mrs Karina Blanco-Usher
Director
24th July 2025
The notes on pages 3 to 6 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
LETTERS OF NOTE LTD is a private company, limited by shares, incorporated in England & Wales, registered number 08247159 . The registered office is 16 Blackfriars Street, Salford, M3 5BQ.
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. Intangible Fixed Assets and Amortisation - Other Intangible
Other intangible assets relate to branding and the permissions paid to use copyrighted work. 
These are amortised to profit and loss account over their estimated economic lives of:
Branding: 5 years
Permissions: 3 years
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:
Computer Equipment 20% Straight Line
2.5. 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.
2.6. 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 year 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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2.6. 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 asset reflects 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.
2.7. 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: 2 (2023: 2)
2 2
4. Intangible Assets
Other
£
Cost
As at 1 November 2023 12,338
Additions 1,337
As at 31 October 2024 13,675
Amortisation
As at 1 November 2023 7,478
Provided during the period 2,513
As at 31 October 2024 9,991
Net Book Value
As at 31 October 2024 3,684
As at 1 November 2023 4,860
5. Tangible Assets
Computer Equipment
£
Cost
As at 1 November 2023 3,196
Additions 627
Disposals (303 )
As at 31 October 2024 3,520
...CONTINUED
Page 4
Page 5
Depreciation
As at 1 November 2023 929
Provided during the period 692
Disposals (266 )
As at 31 October 2024 1,355
Net Book Value
As at 31 October 2024 2,165
As at 1 November 2023 2,267
6. Debtors
2024 2023
£ £
Due within one year
Trade debtors 1,138 271
Prepayments and accrued income - 55
Other debtors 10,337 10,579
VAT - 236
Other taxes and social security - 5,096
Directors' loan accounts 31,245 31,422
42,720 47,659
7. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors - 2
Bank loans and overdrafts 5,220 12,268
Corporation tax 23,004 21,906
Other taxes and social security 11 -
VAT 866 -
29,101 34,176
8. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Bank loans 17,266 21,022
9. Deferred Taxation
The provision for deferred tax is made up as follows:
2024 2023
£ £
Other timing differences 1,462 1,354
10. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 100 100
Page 5
Page 6
11. Directors Advances, Credits and Guarantees
Included within Debtors are the following loans to directors:
As at 1 November 2023 Amounts advanced Amounts repaid Amounts written off As at 31 October 2024
£ £ £ £ £
Mrs Karina Blanco-Usher 15,711 7,934 8,022 - 15,623
Mr Shaun Blanco-Usher 15,711 7,934 8,022 - 15,623
The above loan is unsecured, interest free and repayable on demand.
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