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Registered number: 10787107
Vern Associates Limited
Unaudited ABRIDGED Financial Statements
For The Year Ended 23 November 2025
Sherwin Currid Accountancy Limited
Chartered Certified Accountants
32 London Road
Guildford
Surrey
GU1 2AB
Contents
Page
Abridged Balance Sheet 1—2
Notes to the Abridged Financial Statements 3—5
Page 1
Abridged Balance Sheet
Registered number: 10787107
23 November 2025 23 November 2024
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 7,058 7,508
7,058 7,508
CURRENT ASSETS
Debtors 5 107,286 116,278
Cash at bank and in hand 146,718 119,428
254,004 235,706
Creditors: Amounts Falling Due Within One Year (20,103 ) (33,686 )
NET CURRENT ASSETS (LIABILITIES) 233,901 202,020
TOTAL ASSETS LESS CURRENT LIABILITIES 240,959 209,528
PROVISIONS FOR LIABILITIES
Deferred Taxation (1,341 ) -
NET ASSETS 239,618 209,528
CAPITAL AND RESERVES
Called up share capital 6 10 10
Profit and Loss Account 239,608 209,518
SHAREHOLDERS' FUNDS 239,618 209,528
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For the year ending 23 November 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 her 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.
All of the company's members have consented to the preparation of an Abridged Balance Sheet for the year end 23 November 2025 in accordance with section 444(2A) of the Companies Act 2006.
On behalf of the board
Ms R Smith
Director
13 April 2026
The notes on pages 3 to 5 form part of these financial statements.
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Notes to the Abridged Financial Statements
1. General Information
Vern Associates Limited is a private company, limited by shares, incorporated in England & Wales, registered number 10787107 . The registered office is Dickhurst House, Rodgate Lane, Haslemere, Surrey, GU27 2EW.
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.
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:
Leasehold straight line basis over 10 years
Fixtures & Fittings straight line basis over 3 years
Computer Equipment straight line basis over 3 years
2.4. Financial Instruments
The company enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities, such as trade and other debtors, cash and cash equivalents, trade and other creditors, and loans from banks and other third parties.
Financial assets and liabilities are initially measured at transaction price.
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.
...CONTINUED
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2.5. Taxation - continued
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.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 1 (2024: 1)
1 1
4. Tangible Assets
Total
£
Cost
As at 24 November 2024 43,799
Additions 3,402
As at 23 November 2025 47,201
Depreciation
As at 24 November 2024 36,291
Provided during the period 3,852
As at 23 November 2025 40,143
Net Book Value
As at 23 November 2025 7,058
As at 24 November 2024 7,508
5. Debtors
23 November 2025 23 November 2024
£ £
Due after more than one year
Other debtors 92,445 87,695
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6. Share Capital
23 November 2025 23 November 2024
£ £
Allotted, Called up and fully paid 10 10
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