Acorah Software Products - Accounts Production 16.4.675 false true 31 December 2023 1 January 2023 false 1 January 2024 31 December 2024 31 December 2024 05994005 Mr Michael Lee Mr Richard Teatum Ms Camille Johnson Mr Michael Lee iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 05994005 2023-12-31 05994005 2024-12-31 05994005 2024-01-01 2024-12-31 05994005 frs-core:CurrentFinancialInstruments 2024-12-31 05994005 frs-core:Non-currentFinancialInstruments 2024-12-31 05994005 frs-core:BetweenOneFiveYears 2024-12-31 05994005 frs-core:FurnitureFittings 2024-01-01 2024-12-31 05994005 frs-core:LandBuildings 2024-12-31 05994005 frs-core:LandBuildings 2024-01-01 2024-12-31 05994005 frs-core:LandBuildings 2023-12-31 05994005 frs-core:LandBuildings frs-core:OwnedOrFreeholdAssets 2024-01-01 2024-12-31 05994005 frs-core:MotorVehicles 2024-01-01 2024-12-31 05994005 frs-core:PlantMachinery 2024-12-31 05994005 frs-core:PlantMachinery 2024-01-01 2024-12-31 05994005 frs-core:PlantMachinery 2023-12-31 05994005 frs-core:WithinOneYear 2024-12-31 05994005 frs-core:RevaluationReserve 2023-12-31 05994005 frs-core:RevaluationReserve 2024-12-31 05994005 frs-core:ShareCapital 2024-12-31 05994005 frs-core:RetainedEarningsAccumulatedLosses 2024-12-31 05994005 frs-bus:PrivateLimitedCompanyLtd 2024-01-01 2024-12-31 05994005 frs-bus:FilletedAccounts 2024-01-01 2024-12-31 05994005 frs-bus:SmallEntities 2024-01-01 2024-12-31 05994005 frs-bus:AuditExempt-NoAccountantsReport 2024-01-01 2024-12-31 05994005 frs-bus:SmallCompaniesRegimeForAccounts 2024-01-01 2024-12-31 05994005 frs-core:ListedExchangeTraded 2024-12-31 05994005 frs-core:ListedExchangeTraded 2023-12-31 05994005 frs-core:CostValuation frs-core:ListedExchangeTraded 2023-12-31 05994005 frs-core:CostValuation frs-core:ListedExchangeTraded 2024-12-31 05994005 frs-core:ProvisionsForImpairmentInvestments frs-core:ListedExchangeTraded 2023-12-31 05994005 frs-core:ProvisionsForImpairmentInvestments frs-core:ListedExchangeTraded 2024-12-31 05994005 frs-bus:Director1 2024-01-01 2024-12-31 05994005 frs-bus:Director2 2024-01-01 2024-12-31 05994005 frs-bus:Director3 2024-01-01 2024-12-31 05994005 frs-bus:CompanySecretary1 2024-01-01 2024-12-31 05994005 frs-countries:EnglandWales 2024-01-01 2024-12-31 05994005 2022-12-31 05994005 2023-12-31 05994005 2023-01-01 2023-12-31 05994005 frs-core:CurrentFinancialInstruments 2023-12-31 05994005 frs-core:Non-currentFinancialInstruments 2023-12-31 05994005 frs-core:BetweenOneFiveYears 2023-12-31 05994005 frs-core:MotorVehicles 2023-01-01 2023-12-31 05994005 frs-core:WithinOneYear 2023-12-31 05994005 frs-core:RevaluationReserve 2023-12-31 05994005 frs-core:ShareCapital 2023-12-31 05994005 frs-core:RetainedEarningsAccumulatedLosses 2023-12-31
Registered number: 05994005
PAB Studios Limited
Financial Statements
For The Year Ended 31 December 2024
PAB Studios Limited
Contents
Contents

| Page
--- | ---
Balance Sheet | 1—2
Notes to the Financial Statements | 3—6

Page 1
PAB Studios Limited
Balance Sheet
As At 31 December 2024
Balance Sheet
Registered number: 05994005

| 2024 | 2023
--- | --- | ---
| Notes | £ | £ | £ | £
FIXED ASSETS
Tangible Assets | 4 |  | 1,468,923 |  | 1,431,868
|  |  | 1,468,923 |  | 1,431,868
CURRENT ASSETS
Debtors | 6 | 450,922 |  | 589,687 |
Cash at bank and in hand |  | 841,543 |  | 727,655 |
|  | 1,292,465 |  | 1,317,342 |
Creditors: Amounts Falling Due Within One Year | 7 | (791,098 ) |  | (496,754 ) |
NET CURRENT ASSETS (LIABILITIES) |  |  | 501,367 |  | 820,588
TOTAL ASSETS LESS CURRENT LIABILITIES |  |  | 1,970,290 |  | 2,252,456
Creditors: Amounts Falling Due After More Than One Year | 8 |  | (64,368 ) |  | (34,730 )
PROVISIONS FOR LIABILITIES
Deferred Taxation |  |  | (111,810 ) |  | (111,376 )
NET ASSETS |  |  | 1,794,112 |  | 2,106,350
CAPITAL AND RESERVES
Called up share capital | 10 |  | 200 |  | 200
Revaluation reserve | 11 |  | 620,410 |  | 620,410
Profit and Loss Account |  |  | 1,173,502 |  | 1,485,740
SHAREHOLDERS' FUNDS |  |  | 1,794,112 |  | 2,106,350

Page 1
Page 2
PAB Studios Limited
Balance Sheet (continued)
As At 31 December 2024
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 Michael Lee Director | Ms Camille Johnson Director
4 March 2025

The notes on pages 3 to 6 form part of these financial statements.
Page 2
Page 3
PAB Studios Limited
Notes to the Financial Statements
For The Year Ended 31 December 2024
Notes to the Financial Statements
1. General Information
PAB Studios Limited is a private company, limited by shares, incorporated in England & Wales, registered number 05994005 . The registered office is 142 Thornes Lane, Wakefield, West Yorkshire, WF2 7RE.
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 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. 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:

Freehold | not depreciated
Plant & Machinery | 15% or 25% on cost
Motor Vehicles | 25% on reducing balance
Fixtures & Fittings | 15%, 20% & 33% on cost

2.4. Leasing and Hire Purchase Contracts
Assets obtained under finance leases are capitalised as tangible fixed assets. Assets acquired under finance leases are depreciated over the shorter of the lease term and their useful lives. Assets acquired under hire purchase contracts are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in the creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to the profit and loss account as incurred.
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 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.
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.
Page 3
Page 4
PAB Studios Limited
Notes to the Financial Statements (continued)
For The Year Ended 31 December 2024
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: 24 (2023: 22)
24 22
4. Tangible Assets

| Land & Buildings | Plant & Machinery etc. | Total
--- | --- | --- | ---
| £ | £ | £
Cost
As at 1 January 2024 | 1,325,000 | 212,503 | 1,537,503
Additions | - | 94,945 | 94,945
Disposals | - | (45,730 ) | (45,730 )
As at 31 December 2024 | 1,325,000 | 261,718 | 1,586,718
Depreciation
As at 1 January 2024 | - | 105,635 | 105,635
Provided during the period | - | 47,038 | 47,038
Disposals | - | (34,878 ) | (34,878 )
As at 31 December 2024 | - | 117,795 | 117,795
Net Book Value
As at 31 December 2024 | 1,325,000 | 143,923 | 1,468,923
As at 1 January 2024 | 1,325,000 | 106,868 | 1,431,868

Included above are assets held under finance leases or hire purchase contracts with a net book value as follows:

| 2024 |  | 2023
--- | --- | --- | ---
| £ |  | £
Motor Vehicles | 76,404 |  | 48,455

Cost or valuation as at 31 December 2024 represented by:

| Land & Property
--- | ---
| Freehold | Plant & Machinery | Motor Vehicles | Fixtures & Fittings | Total
| £ | £ | £ | £ | £
At cost | 1,325,000 | 66,763 | 153,651 | 41,304 | 1,586,718
| 1,325,000 | 66,763 | 153,651 | 41,304 | 1,586,718

Page 4
Page 5
PAB Studios Limited
Notes to the Financial Statements (continued)
For The Year Ended 31 December 2024
5. Investments

| Listed
--- | ---
| £
Cost
As at 1 January 2024 | 3,120
As at 31 December 2024 | 3,120
Provision
As at 1 January 2024 | 3,120
As at 31 December 2024 | 3,120
Net Book Value
As at 31 December 2024 | -
As at 1 January 2024 | -

6. Debtors

| 2024 |  | 2023
--- | --- | --- | ---
| £ |  | £
Due within one year
Trade debtors | 427,708 |  | 576,637
Other debtors | 23,214 |  | 13,050
| 450,922 |  | 589,687

7. Creditors: Amounts Falling Due Within One Year

| 2024 |  | 2023
--- | --- | --- | ---
| £ |  | £
Net obligations under finance lease and hire purchase contracts | 5,921 |  | 2,925
Trade creditors | 462,727 |  | 204,171
Other creditors | 128,840 |  | 41,553
Taxation and social security | 193,610 |  | 248,105
| 791,098 |  | 496,754

8. Creditors: Amounts Falling Due After More Than One Year

| 2024 |  | 2023
--- | --- | --- | ---
| £ |  | £
Net obligations under finance lease and hire purchase contracts | 64,368 |  | 34,730

9. Obligations Under Finance Leases and Hire Purchase

| 2024 |  | 2023
--- | --- | --- | ---
| £ |  | £
The future minimum finance lease payments are as follows:
Not later than one year | 5,921 |  | 2,925
Later than one year and not later than five years | 64,368 |  | 34,730
| 70,289 |  | 37,655
| 70,289 |  | 37,655

Page 5
Page 6
PAB Studios Limited
Notes to the Financial Statements (continued)
For The Year Ended 31 December 2024
10. Share Capital

| 2024 |  | 2023
--- | --- | --- | ---
| £ |  | £
Allotted, Called up and fully paid | 200 |  | 200

11. Reserves

| Revaluation Reserve
--- | ---
| £
As at 1 January 2024 | 620,410
As at 31 December 2024 | 620,410

Page 6