Acorah Software Products - Accounts Production 16.5.460 false true 31 December 2023 1 January 2023 false 1 January 2024 31 December 2024 31 December 2024 05908251 J R Dudgeon S T Robinson iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 05908251 2023-12-31 05908251 2024-12-31 05908251 2024-01-01 2024-12-31 05908251 frs-core:CurrentFinancialInstruments 2024-12-31 05908251 frs-core:Non-currentFinancialInstruments 2024-12-31 05908251 frs-core:BetweenOneFiveYears 2024-12-31 05908251 frs-core:ComputerEquipment 2024-12-31 05908251 frs-core:ComputerEquipment 2024-01-01 2024-12-31 05908251 frs-core:ComputerEquipment 2023-12-31 05908251 frs-core:DevelopmentCostsCapitalisedDevelopmentExpenditure 2024-01-01 2024-12-31 05908251 frs-core:FurnitureFittings 2024-12-31 05908251 frs-core:FurnitureFittings 2024-01-01 2024-12-31 05908251 frs-core:FurnitureFittings 2023-12-31 05908251 frs-core:LandBuildings frs-core:LeasedAssetsHeldAsLessee 2024-12-31 05908251 frs-core:LandBuildings frs-core:LeasedAssetsHeldAsLessee 2024-01-01 2024-12-31 05908251 frs-core:LandBuildings frs-core:LeasedAssetsHeldAsLessee 2023-12-31 05908251 frs-core:OtherResidualIntangibleAssets 2024-12-31 05908251 frs-core:OtherResidualIntangibleAssets 2024-01-01 2024-12-31 05908251 frs-core:OtherResidualIntangibleAssets 2023-12-31 05908251 frs-core:ShareCapital 2024-12-31 05908251 frs-core:RetainedEarningsAccumulatedLosses 2024-12-31 05908251 frs-bus:PrivateLimitedCompanyLtd 2024-01-01 2024-12-31 05908251 frs-bus:FilletedAccounts 2024-01-01 2024-12-31 05908251 frs-bus:SmallEntities 2024-01-01 2024-12-31 05908251 frs-bus:AuditExempt-NoAccountantsReport 2024-01-01 2024-12-31 05908251 frs-bus:SmallCompaniesRegimeForAccounts 2024-01-01 2024-12-31 05908251 frs-bus:Director1 2024-01-01 2024-12-31 05908251 frs-bus:Director2 2024-01-01 2024-12-31 05908251 frs-countries:EnglandWales 2024-01-01 2024-12-31 05908251 2022-12-31 05908251 2023-12-31 05908251 2023-01-01 2023-12-31 05908251 frs-core:CurrentFinancialInstruments 2023-12-31 05908251 frs-core:Non-currentFinancialInstruments 2023-12-31 05908251 frs-core:BetweenOneFiveYears 2023-12-31 05908251 frs-core:ShareCapital 2023-12-31 05908251 frs-core:RetainedEarningsAccumulatedLosses 2023-12-31
Registered number: 05908251
Blu Sky Tax Limited
Unaudited Financial Statements
For The Year Ended 31 December 2024
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 05908251
2024 2023
Notes £ £ £ £
FIXED ASSETS
Intangible Assets 4 6,564 7,669
Tangible Assets 5 81,716 112,882
88,280 120,551
CURRENT ASSETS
Debtors 6 465,171 411,025
Cash at bank and in hand 245,383 525,827
710,554 936,852
Creditors: Amounts Falling Due Within One Year 7 (251,205 ) (425,453 )
NET CURRENT ASSETS (LIABILITIES) 459,349 511,399
TOTAL ASSETS LESS CURRENT LIABILITIES 547,629 631,950
Creditors: Amounts Falling Due After More Than One Year 8 (48,594 ) (78,603 )
PROVISIONS FOR LIABILITIES
Deferred Taxation (1,948 ) (3,449 )
NET ASSETS 497,087 549,898
CAPITAL AND RESERVES
Called up share capital 9 100 100
Profit and Loss Account 496,987 549,798
SHAREHOLDERS' FUNDS 497,087 549,898
Page 1
Page 2
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
S T Robinson
Director
02/07/2025
The notes on pages 3 to 5 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Blu Sky Tax Limited is a private company, limited by shares, incorporated in England & Wales, registered number 05908251 . The registered office is Ye Olde Hundred, 69 Church Way, North Shields, NE29 0AE.
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.
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 are costs for the company website. It is amortised to profit and loss account over its estimated economic life of 10 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:
Leasehold Straight Line 10%
Fixtures & Fittings Straight Line 15%
Computer Equipment Straight Line 33%
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.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 23 (2023: 24)
23 24
Page 3
Page 4
4. Intangible Assets
Other
£
Cost
As at 1 January 2024 11,055
As at 31 December 2024 11,055
Amortisation
As at 1 January 2024 3,386
Provided during the period 1,105
As at 31 December 2024 4,491
Net Book Value
As at 31 December 2024 6,564
As at 1 January 2024 7,669
5. Tangible Assets
Land & Property
Leasehold Fixtures & Fittings Computer Equipment Total
£ £ £ £
Cost
As at 1 January 2024 242,930 37,168 114,033 394,131
Additions - - 3,341 3,341
As at 31 December 2024 242,930 37,168 117,374 397,472
Depreciation
As at 1 January 2024 144,714 34,523 102,012 281,249
Provided during the period 24,294 2,139 8,074 34,507
As at 31 December 2024 169,008 36,662 110,086 315,756
Net Book Value
As at 31 December 2024 73,922 506 7,288 81,716
As at 1 January 2024 98,216 2,645 12,021 112,882
6. Debtors
2024 2023
£ £
Due within one year
Trade debtors 75,583 132,930
Prepayments and accrued income 47,410 39,853
Other debtors 342,178 238,242
465,171 411,025
Page 4
Page 5
7. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 27,348 21,698
Bank loans and overdrafts 21,429 21,429
Corporation tax 69,797 115,558
Other taxes and social security 23,251 17,639
VAT 59,795 89,430
Other creditors 5,753 84,655
Accruals and deferred income 40,320 72,800
Directors' loan accounts 3,512 2,244
251,205 425,453
8. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Bank loans 48,594 78,603
9. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 100 100
10. Other Commitments
The total of future minimum lease payments under non-cancellable operating leases are as following:
2024 2023
£ £
Later than one year and not later than five years 7,361 9,256
7,361 9,256
11. Pension Commitments
The company operates a defined contribution pension scheme. The assets of the scheme are held separately from those of the company in an independently administered fund. At the balance sheet date unpaid contributions of £5,252.67 (PY £Nil) were due to the fund. They are included in Other Creditors.
Page 5