Acorah Software Products - Accounts Production 18.1.200 false true 31 December 2024 1 January 2024 false 1 January 2025 31 December 2025 31 December 2025 05665058 Mr Lee Brace Mrs Clare Brace Mr & Mrs Brace true iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 05665058 2024-12-31 05665058 2025-12-31 05665058 2025-01-01 2025-12-31 05665058 frs-core:CurrentFinancialInstruments 2025-12-31 05665058 frs-core:ComputerEquipment 2025-12-31 05665058 frs-core:ComputerEquipment 2025-01-01 2025-12-31 05665058 frs-core:ComputerEquipment 2024-12-31 05665058 frs-core:FurnitureFittings 2025-12-31 05665058 frs-core:FurnitureFittings 2025-01-01 2025-12-31 05665058 frs-core:FurnitureFittings 2024-12-31 05665058 frs-core:LandBuildings frs-core:OwnedOrFreeholdAssets 2025-12-31 05665058 frs-core:LandBuildings frs-core:OwnedOrFreeholdAssets 2025-01-01 2025-12-31 05665058 frs-core:LandBuildings frs-core:OwnedOrFreeholdAssets 2024-12-31 05665058 frs-core:PlantMachinery 2025-12-31 05665058 frs-core:PlantMachinery 2025-01-01 2025-12-31 05665058 frs-core:PlantMachinery 2024-12-31 05665058 frs-core:ShareCapital 2025-12-31 05665058 frs-core:RetainedEarningsAccumulatedLosses 2025-12-31 05665058 frs-bus:PrivateLimitedCompanyLtd 2025-01-01 2025-12-31 05665058 frs-bus:FilletedAccounts 2025-01-01 2025-12-31 05665058 frs-bus:SmallEntities 2025-01-01 2025-12-31 05665058 frs-bus:AuditExempt-NoAccountantsReport 2025-01-01 2025-12-31 05665058 frs-bus:SmallCompaniesRegimeForAccounts 2025-01-01 2025-12-31 05665058 1 2025-01-01 2025-12-31 05665058 frs-bus:Director1 2025-01-01 2025-12-31 05665058 frs-bus:CompanySecretary1 2025-01-01 2025-12-31 05665058 frs-countries:EnglandWales 2025-01-01 2025-12-31 05665058 2023-12-31 05665058 2024-12-31 05665058 2024-01-01 2024-12-31 05665058 frs-core:CurrentFinancialInstruments 2024-12-31 05665058 frs-core:ShareCapital 2024-12-31 05665058 frs-core:RetainedEarningsAccumulatedLosses 2024-12-31
Registered number: 05665058
First Prospect Limited
Unaudited Financial Statements
For The Year Ended 31 December 2025
LPTA Limited
Chartered Certified Accountants
Priory Road
Priory Place
Tiptree
Essex
CO5 0QE
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—6
Page 1
Balance Sheet
Registered number: 05665058
2025 2024
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 17,111 18,014
17,111 18,014
CURRENT ASSETS
Stocks 5 6,119 -
Debtors 6 421 524
Cash at bank and in hand 50,382 105,877
56,922 106,401
Creditors: Amounts Falling Due Within One Year 7 (17,719 ) (55,736 )
NET CURRENT ASSETS (LIABILITIES) 39,203 50,665
TOTAL ASSETS LESS CURRENT LIABILITIES 56,314 68,679
PROVISIONS FOR LIABILITIES
Deferred Taxation (532 ) (555 )
NET ASSETS 55,782 68,124
CAPITAL AND RESERVES
Called up share capital 8 20 20
Profit and Loss Account 55,762 68,104
SHAREHOLDERS' FUNDS 55,782 68,124
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For the year ending 31 December 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 Lee Brace
Director
17th April 2026
The notes on pages 3 to 6 form part of these financial statements.
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Notes to the Financial Statements
1. General Information
First Prospect Limited is a private company, limited by shares, incorporated in England & Wales, registered number 05665058 . The registered office is 19 Longfellow Road, Shallus, Maldon, Essex, CM9 6BD.
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 form the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover form 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:
Freehold no depreciation
Plant & Machinery 20% Reducing Balance
Fixtures & Fittings 20% Reducing Balance
Computer Equipment 20% Reducing Balance
2.4. Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
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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 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: 2 (2024: 2)
2 2
4. Tangible Assets
Land & Property
Freehold Plant & Machinery Fixtures & Fittings Computer Equipment Total
£ £ £ £ £
Cost
As at 1 January 2025 14,095 6,845 1,993 3,913 26,846
Additions - 824 - - 824
Disposals - (4,252 ) (623 ) (3,164 ) (8,039 )
As at 31 December 2025 14,095 3,417 1,370 749 19,631
...CONTINUED
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Depreciation
As at 1 January 2025 - 4,536 1,104 3,192 8,832
Provided during the period - 458 175 120 753
Disposals - (3,411 ) (611 ) (3,043 ) (7,065 )
As at 31 December 2025 - 1,583 668 269 2,520
Net Book Value
As at 31 December 2025 14,095 1,834 702 480 17,111
As at 1 January 2025 14,095 2,309 889 721 18,014
5. Stocks
2025 2024
£ £
Work in progress 6,119 -
6. Debtors
2025 2024
£ £
Due within one year
Trade debtors - 81
Prepayments and accrued income 421 443
421 524
7. Creditors: Amounts Falling Due Within One Year
2025 2024
£ £
Corporation tax 10,251 24,303
Other taxes and social security - 16
VAT 4,457 12,490
Accruals and deferred income 1,121 1,121
Director's loan account 1,890 17,806
17,719 55,736
8. Share Capital
2025 2024
£ £
Allotted, Called up and fully paid 20 20
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9. Ultimate Controlling Party
The company's ultimate controlling party is Mr & Mrs Brace by virtue of their ownership of 100% of the issued share capital in the company.
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