Acorah Software Products - Accounts Production 16.7.461 false true 31 March 2024 1 April 2023 false 1 April 2024 31 March 2025 31 March 2025 07933842 Mr G R Pearce iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 07933842 2024-03-31 07933842 2025-03-31 07933842 2024-04-01 2025-03-31 07933842 frs-core:CurrentFinancialInstruments 2025-03-31 07933842 frs-core:Non-currentFinancialInstruments 2025-03-31 07933842 frs-core:FurnitureFittings 2025-03-31 07933842 frs-core:FurnitureFittings 2024-04-01 2025-03-31 07933842 frs-core:FurnitureFittings 2024-03-31 07933842 frs-core:MotorVehicles 2025-03-31 07933842 frs-core:MotorVehicles 2024-04-01 2025-03-31 07933842 frs-core:MotorVehicles 2024-03-31 07933842 frs-core:PlantMachinery 2025-03-31 07933842 frs-core:PlantMachinery 2024-04-01 2025-03-31 07933842 frs-core:PlantMachinery 2024-03-31 07933842 frs-core:ShareCapital 2025-03-31 07933842 frs-core:RetainedEarningsAccumulatedLosses 2025-03-31 07933842 frs-bus:PrivateLimitedCompanyLtd 2024-04-01 2025-03-31 07933842 frs-bus:FilletedAccounts 2024-04-01 2025-03-31 07933842 frs-bus:SmallEntities 2024-04-01 2025-03-31 07933842 frs-bus:AuditExempt-NoAccountantsReport 2024-04-01 2025-03-31 07933842 frs-bus:SmallCompaniesRegimeForAccounts 2024-04-01 2025-03-31 07933842 frs-bus:Director1 2024-04-01 2025-03-31 07933842 frs-bus:Director1 2024-03-31 07933842 frs-bus:Director1 2025-03-31 07933842 frs-countries:EnglandWales 2024-04-01 2025-03-31 07933842 2023-03-31 07933842 2024-03-31 07933842 2023-04-01 2024-03-31 07933842 frs-core:CurrentFinancialInstruments 2024-03-31 07933842 frs-core:Non-currentFinancialInstruments 2024-03-31 07933842 frs-core:ShareCapital 2024-03-31 07933842 frs-core:RetainedEarningsAccumulatedLosses 2024-03-31
Registered number: 07933842
IPS Pearce Ltd
Unaudited Financial Statements
For The Year Ended 31 March 2025
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 07933842
2025 2024
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 21,236 28,314
21,236 28,314
CURRENT ASSETS
Debtors 5 589,726 535,298
Cash at bank and in hand 11,730 21,180
601,456 556,478
Creditors: Amounts Falling Due Within One Year 6 (86,689 ) (24,361 )
NET CURRENT ASSETS (LIABILITIES) 514,767 532,117
TOTAL ASSETS LESS CURRENT LIABILITIES 536,003 560,431
Creditors: Amounts Falling Due After More Than One Year 7 (22,750 ) (42,467 )
PROVISIONS FOR LIABILITIES
Deferred Taxation (5,309 ) (7,172 )
NET ASSETS 507,944 510,792
CAPITAL AND RESERVES
Called up share capital 8 12,000 12,000
Profit and Loss Account 495,944 498,792
SHAREHOLDERS' FUNDS 507,944 510,792
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Page 2
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 G R Pearce
Director
08/12/2025
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
IPS Pearce Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 07933842 . The registered office is Creation House Lilac Grove, Beeston, Nottingham, NG9 1QX.
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% reducing balance
Motor Vehicles 25% reducing balance
Fixtures & Fittings 25% reducing balance
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 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 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: 1 (2024: 1)
1 1
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4. Tangible Assets
Plant & Machinery Motor Vehicles Fixtures & Fittings Total
£ £ £ £
Cost
As at 1 April 2024 24,454 53,800 16,645 94,899
As at 31 March 2025 24,454 53,800 16,645 94,899
Depreciation
As at 1 April 2024 20,792 31,196 14,597 66,585
Provided during the period 915 5,651 512 7,078
As at 31 March 2025 21,707 36,847 15,109 73,663
Net Book Value
As at 31 March 2025 2,747 16,953 1,536 21,236
As at 1 April 2024 3,662 22,604 2,048 28,314
5. Debtors
2025 2024
£ £
Due within one year
Trade debtors 9,981 14,422
Other debtors 579,745 520,876
589,726 535,298
6. Creditors: Amounts Falling Due Within One Year
2025 2024
£ £
Trade creditors 1 261
Bank loans and overdrafts 18,200 18,200
Other creditors 66,482 2,082
Taxation and social security 2,006 3,818
86,689 24,361
7. Creditors: Amounts Falling Due After More Than One Year
2025 2024
£ £
Bank loans 22,750 42,467
8. Share Capital
2025 2024
£ £
Allotted, Called up and fully paid 12,000 12,000
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9. Directors Advances, Credits and Guarantees
Included within Debtors are the following loans to directors with interest being charged at 2.25%:
As at 1 April 2024 Amounts advanced Amounts repaid Amounts written off As at 31 March 2025
£ £ £ £ £
Mr Gary Pearce 197,557 49,712 24,000 - 223,269
10. Related Party Transactions
Included within other debtors are the following balances, in respect of companies which are related by virtue of
common ownership and directorship :
At the year end, an amount of £289,800 (2024 £227,143) was owed by Soothe Limited.
At the year end, an amount of £0.00 (2024 £29,500) was owed by Lighthouse Display International POS Ltd.
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