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 03072059 Mrs A Dwyer Mr B D Keates Miss A M Cole Mrs J Keates ADBK Holdings Limited true iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 03072059 2023-12-31 03072059 2024-12-31 03072059 2024-01-01 2024-12-31 03072059 frs-core:CurrentFinancialInstruments 2024-12-31 03072059 frs-core:Non-currentFinancialInstruments 2024-12-31 03072059 frs-core:ComputerEquipment 2024-01-01 2024-12-31 03072059 frs-core:FurnitureFittings 2024-01-01 2024-12-31 03072059 frs-core:NetGoodwill 2024-12-31 03072059 frs-core:NetGoodwill 2024-01-01 2024-12-31 03072059 frs-core:NetGoodwill 2023-12-31 03072059 frs-core:PlantMachinery 2024-12-31 03072059 frs-core:PlantMachinery 2024-01-01 2024-12-31 03072059 frs-core:PlantMachinery 2023-12-31 03072059 frs-core:ShareCapital 2024-12-31 03072059 frs-core:RetainedEarningsAccumulatedLosses 2024-12-31 03072059 frs-bus:PrivateLimitedCompanyLtd 2024-01-01 2024-12-31 03072059 frs-bus:FilletedAccounts 2024-01-01 2024-12-31 03072059 frs-bus:SmallEntities 2024-01-01 2024-12-31 03072059 frs-bus:AuditExempt-NoAccountantsReport 2024-01-01 2024-12-31 03072059 frs-bus:SmallCompaniesRegimeForAccounts 2024-01-01 2024-12-31 03072059 1 2024-01-01 2024-12-31 03072059 frs-core:CostValuation 2023-12-31 03072059 frs-core:CostValuation 2024-12-31 03072059 frs-core:ProvisionsForImpairmentInvestments 2023-12-31 03072059 frs-core:ProvisionsForImpairmentInvestments 2024-12-31 03072059 frs-bus:Director1 2024-01-01 2024-12-31 03072059 frs-bus:Director2 2024-01-01 2024-12-31 03072059 frs-bus:Director3 2024-01-01 2024-12-31 03072059 frs-bus:CompanySecretary1 2024-01-01 2024-12-31 03072059 frs-countries:EnglandWales 2024-01-01 2024-12-31 03072059 2022-12-31 03072059 2023-12-31 03072059 2023-01-01 2023-12-31 03072059 frs-core:CurrentFinancialInstruments 2023-12-31 03072059 frs-core:Non-currentFinancialInstruments 2023-12-31 03072059 frs-core:ShareCapital 2023-12-31 03072059 frs-core:RetainedEarningsAccumulatedLosses 2023-12-31
Registered number: 03072059
Midas Accountants & Business Consultants 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: 03072059
2024 2023
Notes £ £ £ £
FIXED ASSETS
Intangible Assets 4 4,790 2,865
Tangible Assets 5 2,613 2,288
Investments 6 397,568 397,568
404,971 402,721
CURRENT ASSETS
Debtors 7 195,390 149,283
Cash at bank and in hand 39,347 103,218
234,737 252,501
Creditors: Amounts Falling Due Within One Year 8 (315,168 ) (328,001 )
NET CURRENT ASSETS (LIABILITIES) (80,431 ) (75,500 )
TOTAL ASSETS LESS CURRENT LIABILITIES 324,540 327,221
Creditors: Amounts Falling Due After More Than One Year 9 (54,487 ) (135,571 )
PROVISIONS FOR LIABILITIES
Deferred Taxation (653 ) (573 )
NET ASSETS 269,400 191,077
CAPITAL AND RESERVES
Called up share capital 10 201 201
Profit and Loss Account 269,199 190,876
SHAREHOLDERS' FUNDS 269,400 191,077
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
Mrs A Dwyer
Director
Mr B D Keates
Director
19 September 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
Midas Accountants & Business Consultants Limited is a private company, limited by shares, incorporated in England & Wales, registered number 03072059 . The registered office is Orchard Place 183 Walsall Road, Great Wyrley, Walsall, West Midlands, WS6 6NL.
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. Intangible Fixed Assets and Amortisation - Goodwill
Goodwill is the difference between amounts paid on the acquisition of a business and the fair value of the separable net assets and has been fully amortised.
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 25% reducing balance
Computer Equipment 33% straight line
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.
2.6. Pensions
The company operates a defined pension contribution scheme. Contributions are charged to the profit and loss account as they become payable in accordance with the rules of the scheme.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 14 (2023: 14)
14 14
Page 3
Page 4
4. Intangible Assets
Goodwill
£
Cost
As at 1 January 2024 342,294
Additions 3,300
As at 31 December 2024 345,594
Amortisation
As at 1 January 2024 339,429
Provided during the period 1,375
As at 31 December 2024 340,804
Net Book Value
As at 31 December 2024 4,790
As at 1 January 2024 2,865
5. Tangible Assets
Plant & Machinery etc.
£
Cost
As at 1 January 2024 77,702
Additions 2,364
As at 31 December 2024 80,066
Depreciation
As at 1 January 2024 75,414
Provided during the period 2,039
As at 31 December 2024 77,453
Net Book Value
As at 31 December 2024 2,613
As at 1 January 2024 2,288
6. Investments
Subsidiaries
£
Cost
As at 1 January 2024 397,568
As at 31 December 2024 397,568
Provision
As at 1 January 2024 -
As at 31 December 2024 -
Net Book Value
As at 31 December 2024 397,568
As at 1 January 2024 397,568
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Page 5
7. Debtors
2024 2023
£ £
Due within one year
Trade debtors 139,428 94,983
Other debtors 55,962 54,300
195,390 149,283
8. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 7,065 16,095
Bank loans and overdrafts 10,397 10,139
Other creditors 173,358 192,223
Taxation and social security 124,348 109,544
315,168 328,001
9. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Bank loans 4,409 14,807
Other creditors 50,078 120,764
54,487 135,571
10. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 201 201
11. Ultimate Controlling Party
The company's ultimate controlling party is ADBK Holdings Limited by virtue of his ownership of 100% of the issued share capital in the company.
12. Off-Balance Sheet Arrangements
Lease commitments at the year end totalled £74,313 (2023 - £22,183).
Page 5