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 05394941 Mr Oliver Curtis Ms Bongsu Park iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 05394941 2024-03-31 05394941 2025-03-31 05394941 2024-04-01 2025-03-31 05394941 frs-core:CurrentFinancialInstruments 2025-03-31 05394941 frs-core:NetGoodwill 2025-03-31 05394941 frs-core:NetGoodwill 2024-04-01 2025-03-31 05394941 frs-core:NetGoodwill 2024-03-31 05394941 frs-core:PlantMachinery 2025-03-31 05394941 frs-core:PlantMachinery 2024-04-01 2025-03-31 05394941 frs-core:PlantMachinery 2024-03-31 05394941 frs-core:ShareCapital 2025-03-31 05394941 frs-core:RetainedEarningsAccumulatedLosses 2025-03-31 05394941 frs-bus:PrivateLimitedCompanyLtd 2024-04-01 2025-03-31 05394941 frs-bus:FilletedAccounts 2024-04-01 2025-03-31 05394941 frs-bus:SmallEntities 2024-04-01 2025-03-31 05394941 frs-bus:AuditExempt-NoAccountantsReport 2024-04-01 2025-03-31 05394941 frs-bus:SmallCompaniesRegimeForAccounts 2024-04-01 2025-03-31 05394941 frs-bus:Director1 2024-04-01 2025-03-31 05394941 frs-bus:CompanySecretary1 2024-04-01 2025-03-31 05394941 frs-countries:EnglandWales 2024-04-01 2025-03-31 05394941 2023-03-31 05394941 2024-03-31 05394941 2023-04-01 2024-03-31 05394941 frs-core:CurrentFinancialInstruments 2024-03-31 05394941 frs-core:ShareCapital 2024-03-31 05394941 frs-core:RetainedEarningsAccumulatedLosses 2024-03-31
Registered number: 05394941
Intuitive Arts and Productions Limited
Unaudited Financial Statements
For The Year Ended 31 March 2025
Green & Peter(UK) Ltd
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 05394941
2025 2024
as restated
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 5 30,147 37,684
30,147 37,684
CURRENT ASSETS
Debtors 6 2,728 14,056
Cash at bank and in hand 49,371 84,205
52,099 98,261
Creditors: Amounts Falling Due Within One Year 7 (16,450 ) (25,282 )
NET CURRENT ASSETS (LIABILITIES) 35,649 72,979
TOTAL ASSETS LESS CURRENT LIABILITIES 65,796 110,663
NET ASSETS 65,796 110,663
CAPITAL AND RESERVES
Called up share capital 8 100 100
Profit and Loss Account 65,696 110,563
SHAREHOLDERS' FUNDS 65,796 110,663
Page 1
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 Oliver Curtis
Director
15/12/2025
The notes on pages 3 to 5 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Intuitive Arts and Productions Limited is a private company, limited by shares, incorporated in England & Wales, registered number 05394941 . The registered office is The Limes, 1339 High Road, Whetstone, London, N20 9HR.
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. Intangible Fixed Assets and Amortisation - Goodwill
Goodwill is the difference between amounts paid on the acquisition of a business and the fair value of the separable net assets. It is amortised to the profit and loss account over its estimated economic life of .... years.
2.4. 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%
2.5. 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.
Page 3
Page 4
3. Average Number of Employees
Average number of employees, including directors, during the year was: 2 (2024: 2)
2 2
4. Intangible Assets
Goodwill
£
Cost
As at 1 April 2024 128,670
As at 31 March 2025 128,670
Amortisation
As at 1 April 2024 128,670
As at 31 March 2025 128,670
Net Book Value
As at 31 March 2025 -
As at 1 April 2024 -
5. Tangible Assets
Plant & Machinery
£
Cost
As at 1 April 2024 81,272
As at 31 March 2025 81,272
Depreciation
As at 1 April 2024 43,588
Provided during the period 7,537
As at 31 March 2025 51,125
Net Book Value
As at 31 March 2025 30,147
As at 1 April 2024 37,684
6. Debtors
2025 2024
as restated
£ £
Due within one year
Trade debtors 324 13,900
Other debtors 2,404 -
2,728 13,900
Due after more than one year
Other debtors - 156
2,728 14,056
Page 4
Page 5
7. Creditors: Amounts Falling Due Within One Year
2025 2024
as restated
£ £
Trade creditors - 1,355
Other creditors 16,513 1,909
Taxation and social security (63 ) 22,018
16,450 25,282
8. Share Capital
2025 2024
as restated
£ £
Allotted, Called up and fully paid 100 100
9. Prior Period Adjustment – Goodwill Amortisation
The company recognised goodwill on incorporation in 2006 with a cost of £128,670. The intended useful economic life of this goodwill was ten years; however, amortisation was incorrectly calculated using a twenty-year period. Amortisation was subsequently ceased in the year ended 31 March 2013.
To correct this, the goodwill balance and associated reserves have been restated to reflect the appropriate ten-year amortisation period. This adjustment eliminates the remaining goodwill that should have been fully amortised by 2016 and aligns the carrying amount and reserves with the correct accounting treatment.
The adjustment has been recognised in the opening reserves of the current period, with comparative figures restated accordingly.
Page 5