Acorah Software Products - Accounts Production 19.3.600 false true 31 March 2025 1 April 2024 false 1 April 2025 31 March 2026 31 March 2026 12235038 Olamide Olajide Olakanmi Ololade Yetunde Olakanmi iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 12235038 2025-03-31 12235038 2026-03-31 12235038 2025-04-01 2026-03-31 12235038 frs-core:CurrentFinancialInstruments 2026-03-31 12235038 frs-core:Non-currentFinancialInstruments 2026-03-31 12235038 frs-core:ComputerEquipment 2026-03-31 12235038 frs-core:ComputerEquipment 2025-04-01 2026-03-31 12235038 frs-core:ComputerEquipment 2025-03-31 12235038 frs-core:FurnitureFittings 2026-03-31 12235038 frs-core:FurnitureFittings 2025-04-01 2026-03-31 12235038 frs-core:FurnitureFittings 2025-03-31 12235038 frs-core:NetGoodwill 2026-03-31 12235038 frs-core:NetGoodwill 2025-04-01 2026-03-31 12235038 frs-core:NetGoodwill 2025-03-31 12235038 frs-core:MotorVehicles 2026-03-31 12235038 frs-core:MotorVehicles 2025-04-01 2026-03-31 12235038 frs-core:MotorVehicles 2025-03-31 12235038 frs-core:ShareCapital 2026-03-31 12235038 frs-core:RetainedEarningsAccumulatedLosses 2026-03-31 12235038 frs-bus:PrivateLimitedCompanyLtd 2025-04-01 2026-03-31 12235038 frs-bus:FilletedAccounts 2025-04-01 2026-03-31 12235038 frs-bus:SmallEntities 2025-04-01 2026-03-31 12235038 frs-bus:AuditExempt-NoAccountantsReport 2025-04-01 2026-03-31 12235038 frs-bus:SmallCompaniesRegimeForAccounts 2025-04-01 2026-03-31 12235038 frs-bus:Director1 2025-04-01 2026-03-31 12235038 frs-bus:Director2 2025-04-01 2026-03-31 12235038 frs-countries:EnglandWales 2025-04-01 2026-03-31 12235038 2024-03-31 12235038 2025-03-31 12235038 2024-04-01 2025-03-31 12235038 frs-core:CurrentFinancialInstruments 2025-03-31 12235038 frs-core:Non-currentFinancialInstruments 2025-03-31 12235038 frs-core:BetweenOneFiveYears 2025-03-31 12235038 frs-core:ShareCapital 2025-03-31 12235038 frs-core:RetainedEarningsAccumulatedLosses 2025-03-31
Registered number: 12235038
Olakanmi Ltd
Unaudited Financial Statements
For The Year Ended 31 March 2026
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—6
Page 1
Balance Sheet
Registered number: 12235038
2026 2025
Notes £ £ £ £
FIXED ASSETS
Intangible Assets 4 678,652 718,300
Tangible Assets 5 13,205 40,862
691,857 759,162
CURRENT ASSETS
Stocks 6 51,193 57,189
Debtors 7 204,558 171,565
Cash at bank and in hand 134,861 54,287
390,612 283,041
Creditors: Amounts Falling Due Within One Year 8 (267,581 ) (224,006 )
NET CURRENT ASSETS (LIABILITIES) 123,031 59,035
TOTAL ASSETS LESS CURRENT LIABILITIES 814,888 818,197
Creditors: Amounts Falling Due After More Than One Year 9 (590,750 ) (650,278 )
PROVISIONS FOR LIABILITIES
Deferred Taxation 11 (2,488 ) (7,764 )
NET ASSETS 221,650 160,155
CAPITAL AND RESERVES
Called up share capital 12 2 2
Profit and Loss Account 221,648 160,153
SHAREHOLDERS' FUNDS 221,650 160,155
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Page 2
For the year ending 31 March 2026 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
Olamide Olajide Olakanmi
Director
Ololade Yetunde Olakanmi
Director
18/06/2026
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
Olakanmi Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 12235038 . The registered office is Pool Pharmacy Main Street, Pool In Wharfedale, Otley, Leeds, LS21 1LH.
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 20 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:
Motor Vehicles 18% of written down value
Fixtures & Fittings 20% of written down value
Computer Equipment 18% of written down value
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.
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.
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2.7. 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.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 10 (2025: 13)
10 13
4. Intangible Assets
Goodwill
£
Cost
As at 1 April 2025 792,972
As at 31 March 2026 792,972
Amortisation
As at 1 April 2025 74,672
Provided during the period 39,648
As at 31 March 2026 114,320
Net Book Value
As at 31 March 2026 678,652
As at 1 April 2025 718,300
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5. Tangible Assets
Motor Vehicles Fixtures & Fittings Computer Equipment Total
£ £ £ £
Cost
As at 1 April 2025 55,000 11,400 7,980 74,380
Additions - - 2,624 2,624
Disposals (55,000 ) - - (55,000 )
As at 31 March 2026 - 11,400 10,604 22,004
Depreciation
As at 1 April 2025 27,404 3,800 2,314 33,518
Provided during the period 2,898 1,520 1,165 5,583
Disposals (30,302 ) - - (30,302 )
As at 31 March 2026 - 5,320 3,479 8,799
Net Book Value
As at 31 March 2026 - 6,080 7,125 13,205
As at 1 April 2025 27,596 7,600 5,666 40,862
6. Stocks
2026 2025
£ £
Finished goods 51,193 57,189
7. Debtors
2026 2025
£ £
Due within one year
Trade debtors 122,454 97,068
Prepayments and accrued income 10,631 7,121
Other debtors 53,591 52,230
VAT 17,822 14,923
Other taxes and social security - 163
Amounts owed by group undertakings 60 60
204,558 171,565
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8. Creditors: Amounts Falling Due Within One Year
2026 2025
£ £
Trade creditors 167,872 154,510
Corporation tax 41,015 28,700
Other taxes and social security 6,482 -
Other creditors 632 15,000
Accruals and deferred income 50,710 2,910
Directors' loan accounts 870 22,886
267,581 224,006
9. Creditors: Amounts Falling Due After More Than One Year
2026 2025
£ £
Net obligations under finance lease and hire purchase contracts - 28,447
Bank loans 590,750 621,831
590,750 650,278
10. Obligations Under Finance Leases and Hire Purchase
2026 2025
£ £
The future minimum finance lease payments are as follows:
Later than one year and not later than five years - 28,447
11. Deferred Taxation
The provision for deferred tax is made up as follows:
2026 2025
£ £
Other timing differences 2,488 7,764
12. Share Capital
2026 2025
£ £
Allotted, Called up and fully paid 2 2
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