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Registered number: 08422000
TAG Assurance Services Limited
Unaudited Financial Statements
For The Year Ended 29 March 2025
TAG Accountants Group Limited
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—6
Page 1
Balance Sheet
Registered number: 08422000
2025 2024
Notes £ £ £ £
FIXED ASSETS
Intangible Assets 4 20,150 46,950
Tangible Assets 5 5,232 2,490
25,382 49,440
CURRENT ASSETS
Debtors 6 287,116 266,037
Cash at bank and in hand 3,673 21,279
290,789 287,316
Creditors: Amounts Falling Due Within One Year 7 (148,168 ) (155,216 )
NET CURRENT ASSETS (LIABILITIES) 142,621 132,100
TOTAL ASSETS LESS CURRENT LIABILITIES 168,003 181,540
Creditors: Amounts Falling Due After More Than One Year 8 (153,457 ) (183,615 )
PROVISIONS FOR LIABILITIES
Deferred Taxation (1,308 ) (278 )
NET ASSETS/(LIABILITIES) 13,238 (2,353 )
CAPITAL AND RESERVES
Called up share capital 10 1 1
Profit and Loss Account 13,237 (2,354 )
SHAREHOLDERS' FUNDS 13,238 (2,353)
Page 1
Page 2
For the year ending 29 March 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 Shaun Philpott
Director
29th December 2025
The notes on pages 3 to 6 form part of these financial statements.
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Page 3
Notes to the Financial Statements
1. General Information
TAG Assurance Services Limited is a private company, limited by shares, incorporated in England & Wales, registered number 08422000 . The registered office is 8 Pendeford Place, Pendeford Business Park, Wolverhampton, West Midlands, WV9 5HD.
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 profit and loss account over its estimated economic life of ten 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:
Fixtures & Fittings 25% reducing balance
Computer Equipment 25% reducing balance
2.5. 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.
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2.6. 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: 9 (2024: 9)
9 9
4. Intangible Assets
Goodwill
£
Cost
As at 30 March 2024 268,000
As at 29 March 2025 268,000
Amortisation
As at 30 March 2024 221,050
Provided during the period 26,800
As at 29 March 2025 247,850
Net Book Value
As at 29 March 2025 20,150
As at 30 March 2024 46,950
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5. Tangible Assets
Fixtures & Fittings Computer Equipment Total
£ £ £
Cost
As at 30 March 2024 5,390 9,258 14,648
Additions - 4,290 4,290
As at 29 March 2025 5,390 13,548 18,938
Depreciation
As at 30 March 2024 4,908 7,250 12,158
Provided during the period 139 1,409 1,548
As at 29 March 2025 5,047 8,659 13,706
Net Book Value
As at 29 March 2025 343 4,889 5,232
As at 30 March 2024 482 2,008 2,490
6. Debtors
2025 2024
£ £
Due within one year
Trade debtors 132,714 161,893
Prepayments and accrued income 75,456 65,651
Other debtors 6,256 2,872
Corporation tax recoverable assets 7,922 7,922
Directors' loan accounts 27,770 27,699
Amounts owed by group undertakings 36,998 -
287,116 266,037
7. Creditors: Amounts Falling Due Within One Year
2025 2024
£ £
Trade creditors 54,883 37,565
Bank loans and overdrafts 7,197 31,729
Other loans 23,199 22,514
Corporation tax 5,509 4,508
Other taxes and social security 5,051 4,780
VAT 45,185 48,810
Net wages - 578
...CONTINUED
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Other creditors 2,676 2,404
Accruals and deferred income 721 2,328
Amounts owed to other participating interests 3,747 -
148,168 155,216
8. Creditors: Amounts Falling Due After More Than One Year
2025 2024
£ £
Bank loans 890 7,975
Other loans 152,567 175,640
153,457 183,615
9. Secured Creditors
Of the creditors the following amounts are secured.
2025 2024
£ £
Bank loans and overdrafts 1,601 20,379
10. Share Capital
2025 2024
£ £
Allotted, Called up and fully paid 1 1
11. Directors Advances, Credits and Guarantees
Included within Debtors are the following loans to directors:
As at 30 March 2024 Amounts advanced Amounts repaid Amounts written off As at 29 March 2025
£ £ £ £ £
Mr Shaun Philpott 27,699 626 555 - 27,770
The above loan is unsecured, subject to interest at 2.25% and repayable on demand.
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