Acorah Software Products - Accounts Production 16.7.461 false true 30 April 2024 1 May 2023 false 1 May 2024 30 April 2025 30 April 2025 08894667 Mr Steven Drake Mr Robert Davies Mr Christian Waters iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 08894667 2024-04-30 08894667 2025-04-30 08894667 2024-05-01 2025-04-30 08894667 frs-core:CurrentFinancialInstruments 2025-04-30 08894667 frs-core:ComputerEquipment 2025-04-30 08894667 frs-core:ComputerEquipment 2024-05-01 2025-04-30 08894667 frs-core:ComputerEquipment 2024-04-30 08894667 frs-core:PlantMachinery 2025-04-30 08894667 frs-core:PlantMachinery 2024-05-01 2025-04-30 08894667 frs-core:PlantMachinery 2024-04-30 08894667 frs-core:ShareCapital 2025-04-30 08894667 frs-core:RetainedEarningsAccumulatedLosses 2025-04-30 08894667 frs-bus:PrivateLimitedCompanyLtd 2024-05-01 2025-04-30 08894667 frs-bus:FilletedAccounts 2024-05-01 2025-04-30 08894667 frs-bus:SmallEntities 2024-05-01 2025-04-30 08894667 frs-bus:AuditExempt-NoAccountantsReport 2024-05-01 2025-04-30 08894667 frs-bus:SmallCompaniesRegimeForAccounts 2024-05-01 2025-04-30 08894667 frs-bus:Director1 2024-05-01 2025-04-30 08894667 frs-bus:Director2 2024-05-01 2025-04-30 08894667 frs-bus:Director3 2024-05-01 2025-04-30 08894667 frs-countries:EnglandWales 2024-05-01 2025-04-30 08894667 2023-04-30 08894667 2024-04-30 08894667 2023-05-01 2024-04-30 08894667 frs-core:CurrentFinancialInstruments 2024-04-30 08894667 frs-core:ShareCapital 2024-04-30 08894667 frs-core:RetainedEarningsAccumulatedLosses 2024-04-30
Registered number: 08894667
TrueNorth IT Limited
Unaudited Financial Statements
For The Year Ended 30 April 2025
Contents
Page
Balance Sheet 1
Notes to the Financial Statements 2—3
Page 1
Balance Sheet
Registered number: 08894667
2025 2024
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 8,747 7,243
8,747 7,243
CURRENT ASSETS
Debtors 5 135,571 208,332
Cash at bank and in hand 332,405 291,800
467,976 500,132
Creditors: Amounts Falling Due Within One Year 6 (154,119 ) (160,662 )
NET CURRENT ASSETS (LIABILITIES) 313,857 339,470
TOTAL ASSETS LESS CURRENT LIABILITIES 322,604 346,713
NET ASSETS 322,604 346,713
CAPITAL AND RESERVES
Called up share capital 7 900 900
Profit and Loss Account 321,704 345,813
SHAREHOLDERS' FUNDS 322,604 346,713
For the year ending 30 April 2025 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
Mr Steven Drake
Director
11/10/2025
The notes on pages 2 to 3 form part of these financial statements.
Page 1
Page 2
Notes to the Financial Statements
1. General Information
TrueNorth IT Limited is a private company, limited by shares, incorporated in England & Wales, registered number 08894667 . The registered office is Fist Floor South, Marshalls Court, Marshall Street, LS11 9YP.
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 25% rb
Computer Equipment RB 33%
2.4. 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 year 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 asset reflects 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 or deferred tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also 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: 15 (2024: 8)
15 8
Page 2
Page 3
4. Tangible Assets
Plant & Machinery Computer Equipment Total
£ £ £
Cost
As at 1 May 2024 8,568 4,961 13,529
Additions 4,300 - 4,300
As at 30 April 2025 12,868 4,961 17,829
Depreciation
As at 1 May 2024 1,525 4,761 6,286
Provided during the period 2,746 50 2,796
As at 30 April 2025 4,271 4,811 9,082
Net Book Value
As at 30 April 2025 8,597 150 8,747
As at 1 May 2024 7,043 200 7,243
5. Debtors
2025 2024
£ £
Due within one year
Trade debtors 135,571 191,539
Other debtors - 16,793
135,571 208,332
6. Creditors: Amounts Falling Due Within One Year
2025 2024
£ £
Trade creditors 2 1
Corporation tax 90,097 116,212
VAT 52,275 41,185
Accruals and deferred income 9,781 1,300
Directors' loan accounts 1,964 1,964
154,119 160,662
7. Share Capital
2025 2024
£ £
Allotted, Called up and fully paid 900 900
Page 3