Acorah Software Products - Accounts Production 16.5.460 false true true 31 December 2023 1 January 2023 false 1 January 2024 31 December 2024 31 December 2024 11734108 Mr Adrian Yearwood Mr Christopher Reilly Mr Ross Tanner iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 11734108 2023-12-31 11734108 2024-12-31 11734108 2024-01-01 2024-12-31 11734108 frs-core:CurrentFinancialInstruments 2024-12-31 11734108 frs-core:ComputerEquipment 2024-12-31 11734108 frs-core:ComputerEquipment 2024-01-01 2024-12-31 11734108 frs-core:ComputerEquipment 2023-12-31 11734108 frs-core:FurnitureFittings 2024-12-31 11734108 frs-core:FurnitureFittings 2024-01-01 2024-12-31 11734108 frs-core:FurnitureFittings 2023-12-31 11734108 frs-core:ShareCapital 2024-12-31 11734108 frs-core:RetainedEarningsAccumulatedLosses 2024-12-31 11734108 frs-bus:PrivateLimitedCompanyLtd 2024-01-01 2024-12-31 11734108 frs-bus:FilletedAccounts 2024-01-01 2024-12-31 11734108 frs-bus:SmallEntities 2024-01-01 2024-12-31 11734108 frs-bus:AuditExempt-NoAccountantsReport 2024-01-01 2024-12-31 11734108 frs-bus:SmallCompaniesRegimeForAccounts 2024-01-01 2024-12-31 11734108 frs-bus:Director1 2024-01-01 2024-12-31 11734108 frs-bus:Director2 2024-01-01 2024-12-31 11734108 frs-bus:Director3 2024-01-01 2024-12-31 11734108 frs-countries:EnglandWales 2024-01-01 2024-12-31 11734108 2022-12-31 11734108 2023-12-31 11734108 2023-01-01 2023-12-31 11734108 frs-core:CurrentFinancialInstruments 2023-12-31 11734108 frs-core:ShareCapital 2023-12-31 11734108 frs-core:RetainedEarningsAccumulatedLosses 2023-12-31
Registered number: 11734108
Love Savings Group Limited
Unaudited Financial Statements
For The Year Ended 31 December 2024
OnTheGo Accountants
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 11734108
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 - 465
- 465
CURRENT ASSETS
Debtors 5 115,917 52,977
Cash at bank and in hand 2,988,385 3,198,089
3,104,302 3,251,066
Creditors: Amounts Falling Due Within One Year 6 (1,761,527 ) (1,004,143 )
NET CURRENT ASSETS (LIABILITIES) 1,342,775 2,246,923
TOTAL ASSETS LESS CURRENT LIABILITIES 1,342,775 2,247,388
PROVISIONS FOR LIABILITIES
Deferred Taxation 7 - (89 )
NET ASSETS 1,342,775 2,247,299
CAPITAL AND RESERVES
Called up share capital 8 3 3
Profit and Loss Account 1,342,772 2,247,296
SHAREHOLDERS' FUNDS 1,342,775 2,247,299
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For the year ending 31 December 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 Adrian Yearwood
Director
14/03/2025
The notes on pages 3 to 5 form part of these financial statements.
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Page 3
Notes to the Financial Statements
1. General Information
Love Savings Group Limited is a private company, limited by shares, incorporated in England & Wales, registered number 11734108 . The registered office is 124 City Road, London, EC1V 2NX.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
2.2. Going Concern Disclosure
The directors confirm that, after careful assessment, they believe the company has the necessary resources to continue its operations for the next twelve months from the date these accounts were approved. This belief is based on current financial forecasts and the company's available financial resources. There are no significant doubts about the company's ability to continuc as a going concern.
2.3. Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. 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.
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:
Fixtures & Fittings 3 Years Straight Line
Computer Equipment 3 Years 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 rates of exchange ruling at 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 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.
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3. Average Number of Employees
Average number of employees, including directors, during the year was: 3 (2023: 3)
3 3
4. Tangible Assets
Fixtures & Fittings Computer Equipment Total
£ £ £
Cost
As at 1 January 2024 291 5,506 5,797
As at 31 December 2024 291 5,506 5,797
Depreciation
As at 1 January 2024 258 5,074 5,332
Provided during the period 33 432 465
As at 31 December 2024 291 5,506 5,797
Net Book Value
As at 31 December 2024 - - -
As at 1 January 2024 33 432 465
5. Debtors
2024 2023
£ £
Due within one year
Trade debtors 111,439 48,536
Prepayments and accrued income 3,539 2,946
Other debtors 939 939
Directors' loan accounts - 556
115,917 52,977
6. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 107,383 417,702
Corporation tax 764,898 348,813
VAT 19,333 774
Other creditors - 33
Accruals and deferred income 869,913 236,821
1,761,527 1,004,143
7. Deferred Taxation
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws.
Deferred tax assets and liabilities are not discounted.
2024 2023
£ £
Other timing differences - 89
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8. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 3 3
9. Financial Instruments
Basic financial instruments are recognised at amortised cost, except for investments in non-convertible preference and non-puttable ordinary shares which are measured at fair value, with changes recognised in profit or loss. Derivative financial instruments arc initially recorded at cost and thereafter at fair value with changes recognised in profit or loss.
10. Pension Commitments
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are recognised in the profit and loss account when due.
11. Related Party Transactions
During the year there was trade between the company and a related party The Savings Group Ltd.
This total amount of purchases for the year to 31st December 2023 was £823,439.
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