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Registered number: 12503345
Tagsmart Certification Ltd
Unaudited Financial Statements
For The Year Ended 31 March 2025
Joanna Burns t/a MyCloud-Accounts
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 12503345
2025 2024
Notes £ £ £ £
FIXED ASSETS
Intangible Assets 4 14,612 16,582
Tangible Assets 5 444 736
15,056 17,318
CURRENT ASSETS
Debtors 6 2,476 2,650
Cash at bank and in hand 1,625 288
4,101 2,938
Creditors: Amounts Falling Due Within One Year 7 (39,972 ) (18,814 )
NET CURRENT ASSETS (LIABILITIES) (35,871 ) (15,876 )
TOTAL ASSETS LESS CURRENT LIABILITIES (20,815 ) 1,442
PROVISIONS FOR LIABILITIES
Provisions For Charges - (7,500 )
Deferred Taxation (111 ) (140 )
NET LIABILITIES (20,926 ) (6,198 )
CAPITAL AND RESERVES
Called up share capital 8 1 1
Profit and Loss Account (20,927 ) (6,199 )
SHAREHOLDERS' FUNDS (20,926) (6,198)
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For the year ending 31 March 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 Stephen Cooke
Director
29/11/2025
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
Tagsmart Certification Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 12503345 . The registered office is Flat B, 34 Stoneleigh Street, London, W11 4DU.
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. Going Concern Disclosure
The financial statements have been prepared on a going concern basis. The directors have considered the company’s financial position, including expected future cash flows, ongoing support from the directors, and the company’s ability to meet its liabilities as they fall due.
The directors are satisfied that sufficient resources will be available to enable the company to continue in operational existence for the foreseeable future, being a period of at least twelve months from the date of approval of these financial statements. Accordingly, the directors consider it appropriate to prepare the financial statements on a going concern basis.
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.
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.
2.4. Intangible Fixed Assets and Amortisation - Other Intangible
Other intangible assets are website platform development costs. They are amortised to Profit and Loss Account over its estimated economic life of 10 years.
2.5. 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 Straight line, 3 years
Computer Equipment Straight line, 3 years
2.6. 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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2.7. 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: NIL (2024: NIL)
- -
4. Intangible Assets
Other
£
Cost
As at 1 April 2024 19,700
As at 31 March 2025 19,700
Amortisation
As at 1 April 2024 3,118
Provided during the period 1,970
As at 31 March 2025 5,088
Net Book Value
As at 31 March 2025 14,612
As at 1 April 2024 16,582
5. Tangible Assets
Plant & Machinery Computer Equipment Total
£ £ £
Cost
As at 1 April 2024 125 750 875
As at 31 March 2025 125 750 875
...CONTINUED
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Depreciation
As at 1 April 2024 76 63 139
Provided during the period 42 250 292
As at 31 March 2025 118 313 431
Net Book Value
As at 31 March 2025 7 437 444
As at 1 April 2024 49 687 736
6. Debtors
2025 2024
£ £
Due within one year
Other debtors 2,476 2,650
7. Creditors: Amounts Falling Due Within One Year
2025 2024
£ £
Trade creditors 2,000 2,329
Other creditors 37,972 16,485
39,972 18,814
8. Share Capital
2025 2024
£ £
Allotted, Called up and fully paid 1 1
9. Contingent Liabilities
2025 2024
£ £
At the end of the period 7,500 7,500
The company has a contingent liability of £7,500 arising from the terms of a previous ownership transfer to the current equity holder. Under the agreement, this amount becomes payable only if the current equity holder subsequently transfers their ownership interest to another party.
As at the date of approval of these financial statements:
  • No further transfer of ownership has been initiated or agreed;
  • The potential obligation depends on a future uncertain event that is outside the company’s control;
  • The financial effect cannot be measured with sufficient certainty, and therefore the liability has not been recognised in the financial statements.
The directors are not aware of any other contingent liabilities requiring disclosure.
10. Prior Period Expenses
During the year the directors identified certain expenses amounting to £10, 804.25 which relate to the financial year ended 31 March 2024( £8, 276.06), 31 March 2023 (£792.39) and 31 March 2022 (£1, 735.80). These expenses were settled personally by a director and have been reimbursed by the Company in the current year. The directors consider the disclosure of these costs appropriate in order to present a true and fair view of the financial statements.
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