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Registered number: 00270317
Thomas Firth,Limited
Unaudited Financial Statements
For The Year Ended 31 March 2025
Smith Hannah Limited
Chartered Certified Accountants
50 Woodgate
Leicester
LE3 5GF
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 00270317
2025 2024
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 6,586 7,317
6,586 7,317
CURRENT ASSETS
Stocks 80,591 95,266
Debtors 5 224,612 166,370
Cash at bank and in hand 3,398 38,530
308,601 300,166
Creditors: Amounts Falling Due Within One Year 6 (150,610 ) (116,690 )
NET CURRENT ASSETS (LIABILITIES) 157,991 183,476
TOTAL ASSETS LESS CURRENT LIABILITIES 164,577 190,793
Creditors: Amounts Falling Due After More Than One Year 7 (50,028 ) (87,214 )
NET ASSETS 114,549 103,579
CAPITAL AND RESERVES
Called up share capital 42,002 42,002
Profit and Loss Account 72,547 61,577
SHAREHOLDERS' FUNDS 114,549 103,579
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Page 2
For the year ending 31 March 2025 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 Imran Majid Waka
Director
15 August 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
Thomas Firth,Limited is a private company, limited by shares, incorporated in England & Wales, registered number 00270317 . The registered office is 50 Woodgate, Leicester, LE3 5GF.
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.
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:
Plant & Machinery 10% reducing balance
Fixtures & Fittings 33% straight line
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.
...CONTINUED
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2.5. 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 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.
2.6. Registrar Filing Requirements
The company has taken advantage of Companies Act 2006 section 444(1) and opted not to file the profit and loss account, directors report, and notes to the financial statements relating to the profit and loss account.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 2 (2024: 2)
2 2
4. Tangible Assets
Plant & Machinery Fixtures & Fittings Total
£ £ £
Cost
As at 1 April 2024 62,698 5,242 67,940
As at 31 March 2025 62,698 5,242 67,940
Depreciation
As at 1 April 2024 55,381 5,242 60,623
Provided during the period 731 - 731
As at 31 March 2025 56,112 5,242 61,354
Net Book Value
As at 31 March 2025 6,586 - 6,586
As at 1 April 2024 7,317 - 7,317
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5. Debtors
2025 2024
£ £
Due within one year
Trade debtors 97,935 76,370
Due after more than one year
Other debtors 126,677 90,000
224,612 166,370
6. Creditors: Amounts Falling Due Within One Year
2025 2024
£ £
Trade creditors 49,631 54,465
Bank loans and overdrafts 10,287 10,037
Corporation tax 28,645 10,894
Other taxes and social security 6,379 5,003
Other creditors 33,950 29,456
Amounts owed to group undertakings 21,718 6,835
150,610 116,690
7. Creditors: Amounts Falling Due After More Than One Year
2025 2024
£ £
Bank loans 1,920 12,364
Other creditors 48,108 74,850
50,028 87,214
8. Ultimate Controlling Party
The company's ultimate controlling party is CTF Group Limited by virtue of his ownership of 100% of the issued share capital in the company.
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