Acorah Software Products - Accounts Production 16.7.461 false true 31 March 2024 1 April 2023 false 3 December 2025 1 April 2024 31 March 2025 31 March 2025 04077684 Professor D M Newbery Mr M A Cockburn Mr W F Rickett Mr P J Taylor Mr A Hajos Mr G Keane Mr T D Cochrane Mr P J Taylor iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 04077684 2024-03-31 04077684 2025-03-31 04077684 2024-04-01 2025-03-31 04077684 frs-core:CurrentFinancialInstruments 2025-03-31 04077684 frs-core:ComputerEquipment 2025-03-31 04077684 frs-core:ComputerEquipment 2024-04-01 2025-03-31 04077684 frs-core:ComputerEquipment 2024-03-31 04077684 frs-core:FurnitureFittings 2025-03-31 04077684 frs-core:FurnitureFittings 2024-04-01 2025-03-31 04077684 frs-core:FurnitureFittings 2024-03-31 04077684 frs-core:NetGoodwill 2025-03-31 04077684 frs-core:NetGoodwill 2024-04-01 2025-03-31 04077684 frs-core:NetGoodwill 2024-03-31 04077684 frs-core:LandBuildings frs-core:LeasedAssetsHeldAsLessee 2025-03-31 04077684 frs-core:LandBuildings frs-core:LeasedAssetsHeldAsLessee 2024-04-01 2025-03-31 04077684 frs-core:LandBuildings frs-core:LeasedAssetsHeldAsLessee 2024-03-31 04077684 frs-core:SharePremium 2025-03-31 04077684 frs-core:ShareCapital 2025-03-31 04077684 frs-core:RetainedEarningsAccumulatedLosses 2025-03-31 04077684 frs-bus:PrivateLimitedCompanyLtd 2024-04-01 2025-03-31 04077684 frs-bus:FilletedAccounts 2024-04-01 2025-03-31 04077684 frs-bus:SmallEntities 2024-04-01 2025-03-31 04077684 frs-bus:Audited 2024-04-01 2025-03-31 04077684 frs-bus:SmallCompaniesRegimeForAccounts 2024-04-01 2025-03-31 04077684 frs-core:DeferredTaxation 2024-04-01 2025-03-31 04077684 frs-core:DeferredTaxation 2024-03-31 04077684 frs-core:DeferredTaxation 2025-03-31 04077684 frs-bus:Director1 2024-04-01 2025-03-31 04077684 frs-bus:Director2 2024-04-01 2025-03-31 04077684 frs-bus:Director3 2024-04-01 2025-03-31 04077684 frs-bus:Director4 2024-04-01 2025-03-31 04077684 frs-bus:Director5 2024-04-01 2025-03-31 04077684 frs-bus:Director6 2024-04-01 2025-03-31 04077684 frs-bus:Director7 2024-04-01 2025-03-31 04077684 frs-bus:CompanySecretary1 2024-04-01 2025-03-31 04077684 frs-countries:EnglandWales 2024-04-01 2025-03-31 04077684 2023-03-31 04077684 2024-03-31 04077684 2023-04-01 2024-03-31 04077684 frs-core:CurrentFinancialInstruments 2024-03-31 04077684 frs-core:SharePremium 2024-03-31 04077684 frs-core:ShareCapital 2024-03-31 04077684 frs-core:RetainedEarningsAccumulatedLosses 2024-03-31
Registered number: 04077684
Cambridge Economic Policy Associates Limited
Financial Statements
For The Year Ended 31 March 2025
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—7
Page 1
Balance Sheet
Registered number: 04077684
2025 2024
as restated
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 5 159,222 134,551
159,222 134,551
CURRENT ASSETS
Debtors 6 2,495,352 1,565,588
Cash at bank and in hand 453,392 864,436
2,948,744 2,430,024
Creditors: Amounts Falling Due Within One Year 7 (2,450,467 ) (2,249,524 )
NET CURRENT ASSETS (LIABILITIES) 498,277 180,500
TOTAL ASSETS LESS CURRENT LIABILITIES 657,499 315,051
PROVISIONS FOR LIABILITIES
Deferred Taxation 9 (27,950 ) (19,307 )
NET ASSETS 629,549 295,744
CAPITAL AND RESERVES
Called up share capital 11 1,251 1,251
Share premium account 74,925 74,925
Profit and Loss Account 553,373 219,568
SHAREHOLDERS' FUNDS 629,549 295,744
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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.
The financial statements were approved by the board of directors on 3 December 2025 and were signed on its behalf by:
Mr M A Cockburn
Director
Mr P J Taylor
Director
3rd December 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
Cambridge Economic Policy Associates Limited is a private company, limited by shares, incorporated in England & Wales, registered number 04077684 . The registered office is Queens House, 55-56 Lincoln's Inn Fields, London, WC2A 3LJ.
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. Significant judgements and estimations
Significant judgements and estimations
The preparation of financial statement in conformity with FRS 102 1A requires the use of certain critical accounting estimates. It also requires management to exercise its judgement in the process of applying the company's accounting policies.
Estimates and judgements are continually evaluated and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.
Work in progress in respect of revenue recognition is based on judgements made in respect of the ultimate profitability of a contract. Such judgements are arrived at through the use of estimates in relation to the costs and value of work performed to date and to be performed in bringing contracts to completion. The Company has appropriate procedures to ensure all estimates are determined on a consistent basis and subject to appropriate review and authorisation.
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 rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
58% of the company's turnover (2024 - 32%) is attributable to geographical markets outside the United Kingdom.
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 - Goodwill
Goodwill previously arose due to Cambridge Economic Policy Associates Ltd becoming a member of CEPA LLP in exchange for additional shares issued in Cambridge Economic Policy Associates Ltd. This was fully amortised in 2016.
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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:
Leasehold 20% on cost
Fixtures & Fittings 20% on cost
Computer Equipment 33% on cost
2.6. 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.
2.7. 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. The financial statements are prepared in Great British Pound (£), which is the company's functional and reporting currency.
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.
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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.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 7 (2024: 7)
7 7
4. Intangible Assets
Goodwill
£
Cost
As at 1 April 2024 530
As at 31 March 2025 530
Amortisation
As at 1 April 2024 530
As at 31 March 2025 530
Net Book Value
As at 31 March 2025 -
As at 1 April 2024 -
5. Tangible Assets
Land & Property
Leasehold Fixtures & Fittings Computer Equipment Total
£ £ £ £
Cost
As at 1 April 2024 225,043 168,524 507,628 901,195
Additions 16,804 21,192 70,484 108,480
As at 31 March 2025 241,847 189,716 578,112 1,009,675
Depreciation
As at 1 April 2024 167,719 129,932 468,993 766,644
Provided during the period 26,705 18,875 38,229 83,809
As at 31 March 2025 194,424 148,807 507,222 850,453
Net Book Value
As at 31 March 2025 47,423 40,909 70,890 159,222
As at 1 April 2024 57,324 38,592 38,635 134,551
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6. Debtors
2025 2024
as restated
£ £
Due within one year
Trade debtors 360,548 320,728
Amounts owed by group undertakings 1,534,534 197,460
Other debtors 493,335 970,611
2,388,417 1,488,799
Due after more than one year
Other debtors 106,935 76,789
2,495,352 1,565,588
7. Creditors: Amounts Falling Due Within One Year
2025 2024
as restated
£ £
Trade creditors 209,043 200,254
Amounts owed to group undertakings 207,349 483,193
Other creditors 1,916,964 1,476,278
Taxation and social security 117,111 89,799
2,450,467 2,249,524
8. Secured Creditors
Lloyds Bank PLC holds a 1st legal charge over Cash in AC 32509860 dated 19/10/2016.
Capel House Property Trust Limited hold a charge over the rent security deposit deed held for the company's office
lease relating to Queens House.
9. Deferred Taxation
The provision for deferred tax is made up as follows:
2025 2024
as restated
£ £
Other timing differences 27,950 19,307
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10. Provisions for Liabilities
Deferred Tax Total
£ £
As at 1 April 2024 19,307 19,307
Additions 8,643 8,643
Balance at 31 March 2025 27,950 27,950
11. Share Capital
2025 2024
as restated
£ £
Allotted, Called up and fully paid 1,251 1,251
12. Other Commitments
At 31st March 2025, the company had total commitments under non-cancellable operating leases over the remaining life of those leases of £289,289 (2024 - £467,978).
13. Related Party Disclosures
CEPA Holdings Limited is the Company's immediate and ultimate parent undertaking and holds 100% of the controlling interest. The consolidated accounts of CEPA Holdings Limited can be obtained from Queens House, 55 Lincoln's Inn Fields, London, WC2A 3LJ.
14. 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.
15. Audit Information
The auditor's report on the accounts of Cambridge Economic Policy Associates Limited for the year ended 31 March 2025 was unqualified.
The auditor's report was signed by Naresh Sarna FCA (Senior Statutory Auditor) for and on behalf of Chancellers LLP , Statutory Auditor.
Chancellers LLP
64 Wilbury Way
Hitchin
Hertfordshire
SG4 0TP
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