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Registered number: 05897728
Antonio Pacelli Limited
Unaudited Financial Statements
For The Year Ended 31 August 2025
Harris & Company (C.A.) Limited
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—7
Page 1
Balance Sheet
Registered number: 05897728
2025 2024
Notes £ £ £ £
FIXED ASSETS
Investments 6 100 91,771
100 91,771
CURRENT ASSETS
Stocks 7 146,218 139,485
Debtors 8 127,757 54,514
Cash at bank and in hand 438,417 347,268
712,392 541,267
Creditors: Amounts Falling Due Within One Year 9 (237,613 ) (205,113 )
NET CURRENT ASSETS (LIABILITIES) 474,779 336,154
TOTAL ASSETS LESS CURRENT LIABILITIES 474,879 427,925
NET ASSETS 474,879 427,925
CAPITAL AND RESERVES
Called up share capital 10 1,000 1,000
Profit and Loss Account 473,879 426,925
SHAREHOLDERS' FUNDS 474,879 427,925
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For the year ending 31 August 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 Adrian Gavigan
Director
Mr Aloysius Gavigan
Director
29 April 2026
The notes on pages 3 to 7 form part of these financial statements.
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Notes to the Financial Statements
1. General Information
Antonio Pacelli Limited is a private company, limited by shares, incorporated in England & Wales, registered number 05897728 . The registered office is 14 Hallmark Trading Estate, Fourth Way, Wembley, Middlesex, HA9 0LB.
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 represents the excess of the cost of acquisition of unincorporated businesses over the fair value of net assets acquired. It is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is considered to have a finite useful life and is amortised on a systematic basis over its expected life, which is 5 years.
For the purposes of impairment testing, goodwill is allocated to the cash-generating units expected to benefit from the acquisition. Cash-generating units to which goodwill has been allocated are tested for impairment at least annually, or more frequently when there is an indication that the unit may be impaired. If the recoverable amount of the cash-generating unit is less than the carrying amount of the unit, the impairment loss is allocated first to reduce the carrying amount of any goodwill allocated to the unit and then to the other assets of the unit pro-rata on the basis of the carrying amount of each asset in the unit.
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2.4. Intangible Fixed Assets and Amortisation - Other Intangible
Intangible assets acquired separately from a business are recognised at cost and are subsequently measured at cost less accumulated amortisation and accumulated impairment losses.
Intangible assets acquired on business combinations are recognised separately from goodwill at the acquisition date where it is probable that the expected future economic benefits that are attributable to the asset will flow to the entity and the fair value of the asset can be measured reliably; the intangible asset arises from contractual or other legal rights; and the intangible asset is separable from the entity.
Amortisation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Goodwill               20% straight line
Website cost        20% straight line
2.5. 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 10% straight line
Fixtures & Fittings 10% straight line
Computer Equipment 25% straight line
2.6. 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.
2.7. Foreign Currencies
Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate ruling on the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
2.8. 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.
...CONTINUED
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2.8. Taxation - continued
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.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 5 (2024: 4)
5 4
4. Intangible Assets
Goodwill Development Costs Intellectual Property Total
£ £ £ £
Cost
As at 1 September 2024 534,890 11,090 5,364 551,344
As at 31 August 2025 534,890 11,090 5,364 551,344
Amortisation
As at 1 September 2024 534,890 11,090 5,364 551,344
As at 31 August 2025 534,890 11,090 5,364 551,344
Net Book Value
As at 31 August 2025 - - - -
As at 1 September 2024 - - - -
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5. Tangible Assets
Land & Property
Leasehold Fixtures & Fittings Computer Equipment Total
£ £ £ £
Cost
As at 1 September 2024 22,601 20,971 27,934 71,506
As at 31 August 2025 22,601 20,971 27,934 71,506
Depreciation
As at 1 September 2024 22,601 20,971 27,934 71,506
As at 31 August 2025 22,601 20,971 27,934 71,506
Net Book Value
As at 31 August 2025 - - - -
As at 1 September 2024 - - - -
6. Investments
Subsidiaries Other Total
£ £ £
Cost or Valuation
As at 1 September 2024 - 91,771 91,771
Additions 100 - 100
Disposals - (91,771 ) (91,771 )
As at 31 August 2025 100 - 100
Provision
As at 1 September 2024 - - -
As at 31 August 2025 - - -
Net Book Value
As at 31 August 2025 100 - 100
As at 1 September 2024 - 91,771 91,771
On 18 June 2025, the Company acquired 100% of the issued share capital of Antonio Pacelli Property Limited, a company incorporated in the United Kingdom. The subsidiary is engaged in the letting and operation of commercial real estate.
The investment is recognised at cost of £100, being the consideration paid.
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7. Stocks
2025 2024
£ £
Finished goods 146,218 139,485
8. Debtors
2025 2024
£ £
Due within one year
Trade debtors 29,400 14,574
Other debtors 29,651 39,940
59,051 54,514
Due after more than one year
Amounts owed by group undertakings 68,706 -
127,757 54,514
9. Creditors: Amounts Falling Due Within One Year
2025 2024
£ £
Trade creditors 34,564 37,939
Bank loans and overdrafts 133 -
Other creditors 158,435 117,495
Taxation and social security 44,481 49,679
237,613 205,113
10. Share Capital
2025 2024
£ £
Allotted, Called up and fully paid 1,000 1,000
11. Related Party Transactions
As the balance sheet date £68,706.24 (2024: £nil) was due from Antonio Pacelli Property Limited.  The balance is unsecured, interest free and has no fixed repayment terms.
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