Acorah Software Products - Accounts Production 16.5.460 false true 31 December 2023 1 January 2023 false 8 April 2025 1 January 2024 31 December 2024 31 December 2024 02932351 Mr L A P Soares Mr J L T Pina iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 02932351 2023-12-31 02932351 2024-12-31 02932351 2024-01-01 2024-12-31 02932351 frs-core:CurrentFinancialInstruments 2024-12-31 02932351 frs-core:ComputerEquipment 2024-12-31 02932351 frs-core:ComputerEquipment 2024-01-01 2024-12-31 02932351 frs-core:ComputerEquipment 2023-12-31 02932351 frs-core:FurnitureFittings 2024-12-31 02932351 frs-core:FurnitureFittings 2024-01-01 2024-12-31 02932351 frs-core:FurnitureFittings 2023-12-31 02932351 frs-core:LandBuildings frs-core:OwnedOrFreeholdAssets 2024-12-31 02932351 frs-core:LandBuildings frs-core:OwnedOrFreeholdAssets 2024-01-01 2024-12-31 02932351 frs-core:LandBuildings frs-core:OwnedOrFreeholdAssets 2023-12-31 02932351 frs-core:MotorVehicles 2024-12-31 02932351 frs-core:MotorVehicles 2024-01-01 2024-12-31 02932351 frs-core:MotorVehicles 2023-12-31 02932351 frs-core:PlantMachinery 2024-12-31 02932351 frs-core:PlantMachinery 2024-01-01 2024-12-31 02932351 frs-core:PlantMachinery 2023-12-31 02932351 frs-core:ShareCapital 2024-12-31 02932351 frs-core:RetainedEarningsAccumulatedLosses 2024-12-31 02932351 frs-bus:PrivateLimitedCompanyLtd 2024-01-01 2024-12-31 02932351 frs-bus:FilletedAccounts 2024-01-01 2024-12-31 02932351 frs-bus:SmallEntities 2024-01-01 2024-12-31 02932351 frs-bus:Audited 2024-01-01 2024-12-31 02932351 frs-bus:SmallCompaniesRegimeForAccounts 2024-01-01 2024-12-31 02932351 frs-bus:Director1 2024-01-01 2024-12-31 02932351 frs-bus:CompanySecretary1 2024-01-01 2024-12-31 02932351 frs-countries:EnglandWales 2024-01-01 2024-12-31 02932351 2022-12-31 02932351 2023-12-31 02932351 2023-01-01 2023-12-31 02932351 frs-core:CurrentFinancialInstruments 2023-12-31 02932351 frs-core:ShareCapital 2023-12-31 02932351 frs-core:RetainedEarningsAccumulatedLosses 2023-12-31
Registered number: 02932351
Torre (UK) Limited
Financial Statements
For The Year Ended 31 December 2024
Ashdown Price Chartered Accountants
Contents
Page
Balance Sheet 1
Notes to the Financial Statements 2—4
Page 1
Balance Sheet
Registered number: 02932351
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 527,552 541,928
Investments 13 13
527,565 541,941
CURRENT ASSETS
Stocks 1,530,318 1,868,506
Debtors 5 661,551 663,890
Cash at bank and in hand 350,814 715
2,542,683 2,533,111
Creditors: Amounts Falling Due Within One Year 6 (159,887 ) (317,003 )
NET CURRENT ASSETS (LIABILITIES) 2,382,796 2,216,108
TOTAL ASSETS LESS CURRENT LIABILITIES 2,910,361 2,758,049
NET ASSETS 2,910,361 2,758,049
CAPITAL AND RESERVES
Called up share capital 7 1,000,000 1,000,000
Profit and Loss Account 1,910,361 1,758,049
SHAREHOLDERS' FUNDS 2,910,361 2,758,049
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 L A P Soares
Director
24/03/2025
The notes on pages 2 to 4 form part of these financial statements.
Page 1
Page 2
Notes to the Financial Statements
1. General Information
Torre (UK) Limited is a private company, limited by shares, incorporated in England & Wales, registered number 02932351 . The registered office is Unit 12, Fleet Business Park, Sandy Lane, Church Crookham, Fleet, Hampshire, GU52 8BF.
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.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
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 2% on Cost
Plant & Machinery 15% on reducing balance
Motor Vehicles 25% on reducing balance
Fixtures & Fittings 15% on reducing balance
Computer Equipment 33% on reducing balance
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. 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 rate ruling on the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
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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 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: 8 (2023: 8)
8 8
4. Tangible Assets
Land & Property
Freehold Plant & Machinery Motor Vehicles Fixtures & Fittings
£ £ £ £
Cost
As at 1 January 2024 746,898 94,281 12,048 6,495
As at 31 December 2024 746,898 94,281 12,048 6,495
Depreciation
As at 1 January 2024 223,604 85,750 9,993 6,288
Provided during the period 9,938 1,280 514 31
As at 31 December 2024 233,542 87,030 10,507 6,319
Net Book Value
As at 31 December 2024 513,356 7,251 1,541 176
As at 1 January 2024 523,294 8,531 2,055 207
Computer Equipment Total
£ £
Cost
As at 1 January 2024 33,961 893,683
As at 31 December 2024 33,961 893,683
...CONTINUED
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Page 4
Depreciation
As at 1 January 2024 26,120 351,755
Provided during the period 2,613 14,376
As at 31 December 2024 28,733 366,131
Net Book Value
As at 31 December 2024 5,228 527,552
As at 1 January 2024 7,841 541,928
5. Debtors
2024 2023
£ £
Due within one year
Trade debtors 426,163 640,706
Amounts owed by group undertakings 207,313 -
Other debtors 28,075 23,184
661,551 663,890
6. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 15,472 11,735
Bank loans and overdrafts - 134,994
Corporation tax 55,415 63,092
Social security snd other tax 48,966 47,148
Other creditors 40,034 36,333
Amounts owed to group undertakings - 23,701
159,887 317,003
7. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 1,000,000 1,000,000
8. FRC's Ethical Standard - Provision Available for Small Entities
In common with other businesses of our size and nature we use our auditors to prepare and submit returns to the tax authorities and assist with the preparation of the financial statements.
9. Audit Information
The auditor's report on the accounts of Torre (UK) Limited for the year ended 31 December 2024 was unqualified.
The auditor's report was signed by Frank Edge (Senior Statutory Auditor) for and on behalf of Accountsource Limited , Statutory Auditor.
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