Acorah Software Products - Accounts Production 16.5.460 false true 31 January 2024 1 January 2023 false 1 February 2024 31 January 2025 31 January 2025 05569520 Mr Dave Luckhurst Mrs Angela Luckhurst iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 05569520 2024-01-31 05569520 2025-01-31 05569520 2024-02-01 2025-01-31 05569520 frs-core:CurrentFinancialInstruments 2025-01-31 05569520 frs-core:FurnitureFittings 2025-01-31 05569520 frs-core:FurnitureFittings 2024-02-01 2025-01-31 05569520 frs-core:FurnitureFittings 2024-01-31 05569520 frs-core:MotorVehicles 2025-01-31 05569520 frs-core:MotorVehicles 2024-02-01 2025-01-31 05569520 frs-core:MotorVehicles 2024-01-31 05569520 frs-core:PlantMachinery 2025-01-31 05569520 frs-core:PlantMachinery 2024-02-01 2025-01-31 05569520 frs-core:PlantMachinery 2024-01-31 05569520 frs-core:ShareCapital 2025-01-31 05569520 frs-core:RetainedEarningsAccumulatedLosses 2025-01-31 05569520 frs-bus:PrivateLimitedCompanyLtd 2024-02-01 2025-01-31 05569520 frs-bus:FilletedAccounts 2024-02-01 2025-01-31 05569520 frs-bus:SmallEntities 2024-02-01 2025-01-31 05569520 frs-bus:AuditExempt-NoAccountantsReport 2024-02-01 2025-01-31 05569520 frs-bus:SmallCompaniesRegimeForAccounts 2024-02-01 2025-01-31 05569520 frs-bus:Director1 2024-02-01 2025-01-31 05569520 frs-bus:CompanySecretary1 2024-02-01 2025-01-31 05569520 frs-countries:EnglandWales 2024-02-01 2025-01-31 05569520 2022-12-31 05569520 2024-01-31 05569520 2023-01-01 2024-01-31 05569520 frs-core:CurrentFinancialInstruments 2024-01-31 05569520 frs-core:WithinOneYear 2024-01-31 05569520 frs-core:ShareCapital 2024-01-31 05569520 frs-core:RetainedEarningsAccumulatedLosses 2024-01-31
Registered number: 05569520
Abbey IP Limited
Unaudited Financial Statements
For The Year Ended 31 January 2025
Lesstax2pay
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 05569520
31 January 2025 31 January 2024
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 38,356 45,895
38,356 45,895
CURRENT ASSETS
Stocks 5 3,000 8,620
Debtors 6 95,921 47,942
Cash at bank and in hand 48,538 90,674
147,459 147,236
Creditors: Amounts Falling Due Within One Year 7 (59,455 ) (97,484 )
NET CURRENT ASSETS (LIABILITIES) 88,004 49,752
TOTAL ASSETS LESS CURRENT LIABILITIES 126,360 95,647
NET ASSETS 126,360 95,647
CAPITAL AND RESERVES
Called up share capital 9 100 100
Profit and Loss Account 126,260 95,547
SHAREHOLDERS' FUNDS 126,360 95,647
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For the year ending 31 January 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his 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 Dave Luckhurst
Director
08/10/2025
The notes on pages 3 to 5 form part of these financial statements.
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Notes to the Financial Statements
1. General Information
Abbey IP Limited is a private company, limited by shares, incorporated in England & Wales, registered number 05569520 . The registered office is 169 High Street, Barnet, Herts, EN5 5SU.
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:
Plant & Machinery 20% Straight Line
Motor Vehicles 25% Reducing Balance
Fixtures & Fittings 20% Straight Line
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. 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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2.6. 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: 5 (2024: 5)
5 5
4. Tangible Assets
Plant & Machinery Motor Vehicles Fixtures & Fittings Total
£ £ £ £
Cost
As at 1 February 2024 17,015 65,518 28,527 111,060
Additions 1,232 4,900 210 6,342
As at 31 January 2025 18,247 70,418 28,737 117,402
Depreciation
As at 1 February 2024 9,361 28,367 27,437 65,165
Provided during the period 2,762 10,513 606 13,881
As at 31 January 2025 12,123 38,880 28,043 79,046
Net Book Value
As at 31 January 2025 6,124 31,538 694 38,356
As at 1 February 2024 7,654 37,151 1,090 45,895
5. Stocks
31 January 2025 31 January 2024
£ £
Finished goods 3,000 8,620
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6. Debtors
31 January 2025 31 January 2024
£ £
Due within one year
Trade debtors 95,921 47,942
7. Creditors: Amounts Falling Due Within One Year
31 January 2025 31 January 2024
£ £
Net obligations under finance lease and hire purchase contracts - 1,558
Trade creditors 17,528 21,108
Other creditors 9,064 19,319
Taxation and social security 32,863 55,499
59,455 97,484
8. Obligations Under Finance Leases and Hire Purchase
31 January 2025 31 January 2024
£ £
The future minimum finance lease payments are as follows:
Not later than one year - 1,558
9. Share Capital
31 January 2025 31 January 2024
£ £
Allotted, Called up and fully paid 100 100
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