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 07310971 D J Lenihan G I Garber iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 07310971 2023-12-31 07310971 2024-12-31 07310971 2024-01-01 2024-12-31 07310971 frs-core:CurrentFinancialInstruments 2024-12-31 07310971 frs-core:Non-currentFinancialInstruments 2024-12-31 07310971 frs-core:BetweenOneFiveYears 2024-12-31 07310971 frs-core:ComputerEquipment 2024-12-31 07310971 frs-core:ComputerEquipment 2024-01-01 2024-12-31 07310971 frs-core:ComputerEquipment 2023-12-31 07310971 frs-core:PlantMachinery 2024-12-31 07310971 frs-core:PlantMachinery 2024-01-01 2024-12-31 07310971 frs-core:PlantMachinery 2023-12-31 07310971 frs-core:WithinOneYear 2024-12-31 07310971 frs-core:SharePremium 2024-12-31 07310971 frs-core:ShareCapital 2024-12-31 07310971 frs-core:RetainedEarningsAccumulatedLosses 2024-12-31 07310971 frs-bus:PrivateLimitedCompanyLtd 2024-01-01 2024-12-31 07310971 frs-bus:FilletedAccounts 2024-01-01 2024-12-31 07310971 frs-bus:SmallEntities 2024-01-01 2024-12-31 07310971 frs-bus:AuditExempt-NoAccountantsReport 2024-01-01 2024-12-31 07310971 frs-bus:SmallCompaniesRegimeForAccounts 2024-01-01 2024-12-31 07310971 frs-bus:OrdinaryShareClass1 2024-01-01 2024-12-31 07310971 frs-bus:OrdinaryShareClass1 2024-12-31 07310971 frs-core:AcceleratedTaxDepreciationDeferredTax 2024-12-31 07310971 frs-core:CostValuation 2023-12-31 07310971 frs-core:CostValuation 2024-12-31 07310971 frs-core:ProvisionsForImpairmentInvestments 2023-12-31 07310971 frs-core:ProvisionsForImpairmentInvestments 2024-12-31 07310971 frs-bus:Director1 2024-01-01 2024-12-31 07310971 frs-bus:Director2 2024-01-01 2024-12-31 07310971 frs-bus:Director2 2023-12-31 07310971 frs-bus:Director2 2024-12-31 07310971 frs-core:CurrentFinancialInstruments 1 2024-12-31 07310971 frs-countries:EnglandWales 2024-01-01 2024-12-31 07310971 2022-12-31 07310971 2023-12-31 07310971 2023-01-01 2023-12-31 07310971 frs-core:CurrentFinancialInstruments 2023-12-31 07310971 frs-core:Non-currentFinancialInstruments 2023-12-31 07310971 frs-core:BetweenOneFiveYears 2023-12-31 07310971 frs-core:WithinOneYear 2023-12-31 07310971 frs-core:SharePremium 2023-12-31 07310971 frs-core:ShareCapital 2023-12-31 07310971 frs-core:RetainedEarningsAccumulatedLosses 2023-12-31 07310971 frs-bus:OrdinaryShareClass1 2023-01-01 2023-12-31 07310971 frs-core:AcceleratedTaxDepreciationDeferredTax 2023-12-31 07310971 frs-core:CurrentFinancialInstruments 1 2023-12-31
Registered number: 07310971
3 Legged Thing Limited
Unaudited Financial Statements
For The Year Ended 31 December 2024
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—7
Page 1
Balance Sheet
Registered number: 07310971
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 2,734 13,631
2,734 13,631
CURRENT ASSETS
Stocks 6 887,683 966,177
Debtors 7 298,543 159,849
Cash at bank and in hand 441,639 766,711
1,627,865 1,892,737
Creditors: Amounts Falling Due Within One Year 8 (216,279 ) (393,374 )
NET CURRENT ASSETS (LIABILITIES) 1,411,586 1,499,363
TOTAL ASSETS LESS CURRENT LIABILITIES 1,414,320 1,512,994
Creditors: Amounts Falling Due After More Than One Year 9 - (78,777 )
PROVISIONS FOR LIABILITIES
Deferred Taxation 10 (513 ) (2,590 )
NET ASSETS 1,413,807 1,431,627
CAPITAL AND RESERVES
Called up share capital 11 10,000 10,000
Share premium account 189,000 189,000
Profit and Loss Account 1,214,807 1,232,627
SHAREHOLDERS' FUNDS 1,413,807 1,431,627
Page 1
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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
G I Garber
Director
23 September 2025
The notes on pages 3 to 7 form part of these financial statements.
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Page 3
Notes to the Financial Statements
1. General Information
3 Legged Thing Limited is a private company, limited by shares, incorporated in England & Wales, registered number 07310971 . The registered office is Avaland House, 110 London Road, Apsley, Hemel Hempstead, Hertfordshire, HP3 9SD.
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. Exemption From Preparing Consolidated Financial Statements
The company has taken advantage of the exemption under section 399 of the Companies Act 2006 not to prepare consolidated accounts, on the basis that the group of which this is the parent qualifies as a small group. The financial statements present information about the company as an individual entity and not about its group.
2.3. 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.
2.4. 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:
Plant & Machinery 33% on cost
Website 33% on cost
2.5. Investments
Investments in subsidiary undertakings are recognised at cost less any provision for impairment.
2.6. Leasing and Hire Purchase Contracts
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to profit and loss account as incurred.
2.7. 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.
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2.8. 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.
2.9. 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.
2.10. 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.
2.11. Research and development
Expenditure on research and development is written off in the year in which it is incurred.
2.12. Patents and licences
Expenditure on the registration and maintenance of patents relating to internal development projects are treated as a revenue expense and written off in the year they are incurred. Expenditure on externally acquired patents and licences are capitalised as intangible fixed assets.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 11 (2023: 11)
11 11
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4. Tangible Assets
Plant & Machinery Website Total
£ £ £
Cost
As at 1 January 2024 169,318 24,934 194,252
Additions 1,078 - 1,078
Disposals (1,089 ) - (1,089 )
As at 31 December 2024 169,307 24,934 194,241
Depreciation
As at 1 January 2024 159,963 20,658 180,621
Provided during the period 7,640 4,245 11,885
Disposals (999 ) - (999 )
As at 31 December 2024 166,604 24,903 191,507
Net Book Value
As at 31 December 2024 2,703 31 2,734
As at 1 January 2024 9,355 4,276 13,631
5. Investments
Subsidiaries
£
Cost
As at 1 January 2024 12,000
As at 31 December 2024 12,000
Provision
As at 1 January 2024 12,000
As at 31 December 2024 12,000
Net Book Value
As at 31 December 2024 -
As at 1 January 2024 -
6. Stocks
2024 2023
£ £
Finished goods 887,683 966,177
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7. Debtors
2024 2023
£ £
Due within one year
Trade debtors 174,540 109,639
Prepayments and accrued income 66,954 47,290
Corporation tax recoverable assets 46,490 -
Directors' loan accounts 8,000 -
Amounts owed by group undertakings 2,559 2,920
298,543 159,849
The deferred tax asset may be recovered over more than one year.
8. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 62,617 178,319
Bank loans and overdrafts 78,776 130,133
Other taxes and social security 9,114 11,352
VAT 38,126 38,306
Other creditors 447 447
Pension liability 1,797 2,005
Accruals and deferred income 25,402 32,812
216,279 393,374
9. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Bank loans - 1-2 years - 78,777
10. Deferred Taxation
The provision for deferred tax is made up as follows:
2024 2023
£ £
Accelerated capital allowances 513 2,590
11. Share Capital
2024 2023
Allotted, called up and fully paid £ £
10,000 Ordinary Shares of £ 1.00 each 10,000 10,000
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12. Other Commitments
The total of future minimum lease payments under non-cancellable operating leases are as following:
2024 2023
£ £
Not later than one year 50,299 61,518
Later than one year and not later than five years 20,754 72,810
71,053 134,328
13. Directors Advances, Credits and Guarantees
Included within Debtors are the following loans to directors:
As at 1 January 2024 Amounts advanced Amounts repaid Amounts written off As at 31 December 2024
£ £ £ £ £
Mr Daniel Lenihan - 8,000 - - 8,000
The above director loan is unsecured, interest free and repayable on demand. The loan was repaid on 25 April 2024.
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