Acorah Software Products - Accounts Production 16.6.950 false true 31 March 2024 1 April 2023 false 1 April 2024 31 March 2025 31 March 2025 06032192 Mr Cameron Lugg-Cargill Mr Stephen Lugg iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 06032192 2024-03-31 06032192 2025-03-31 06032192 2024-04-01 2025-03-31 06032192 frs-core:CurrentFinancialInstruments 2025-03-31 06032192 frs-core:ComputerEquipment 2025-03-31 06032192 frs-core:ComputerEquipment 2024-04-01 2025-03-31 06032192 frs-core:ComputerEquipment 2024-03-31 06032192 frs-core:DevelopmentCostsCapitalisedDevelopmentExpenditure 2024-04-01 2025-03-31 06032192 frs-core:FurnitureFittings 2025-03-31 06032192 frs-core:FurnitureFittings 2024-04-01 2025-03-31 06032192 frs-core:FurnitureFittings 2024-03-31 06032192 frs-core:NetGoodwill 2025-03-31 06032192 frs-core:NetGoodwill 2024-04-01 2025-03-31 06032192 frs-core:NetGoodwill 2024-03-31 06032192 frs-core:OtherResidualIntangibleAssets 2025-03-31 06032192 frs-core:OtherResidualIntangibleAssets 2024-04-01 2025-03-31 06032192 frs-core:OtherResidualIntangibleAssets 2024-03-31 06032192 frs-core:ShareCapital 2025-03-31 06032192 frs-core:RetainedEarningsAccumulatedLosses 2025-03-31 06032192 frs-bus:PrivateLimitedCompanyLtd 2024-04-01 2025-03-31 06032192 frs-bus:FilletedAccounts 2024-04-01 2025-03-31 06032192 frs-bus:SmallEntities 2024-04-01 2025-03-31 06032192 frs-bus:AuditExempt-NoAccountantsReport 2024-04-01 2025-03-31 06032192 frs-bus:SmallCompaniesRegimeForAccounts 2024-04-01 2025-03-31 06032192 frs-bus:Director1 2024-04-01 2025-03-31 06032192 frs-bus:Director2 2024-04-01 2025-03-31 06032192 frs-countries:EnglandWales 2024-04-01 2025-03-31 06032192 2023-03-31 06032192 2024-03-31 06032192 2023-04-01 2024-03-31 06032192 frs-core:CurrentFinancialInstruments 2024-03-31 06032192 frs-core:ShareCapital 2024-03-31 06032192 frs-core:RetainedEarningsAccumulatedLosses 2024-03-31
Registered number: 06032192
First4tech Limited
Unaudited Financial Statements
For The Year Ended 31 March 2025
EH Accountancy Ltd
1 Horsingtons Yard
Lion Street
Abergavenny
Monmouthshire
NP7 5PN
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 06032192
2025 2024
Notes £ £ £ £
FIXED ASSETS
Intangible Assets 4 12,095 35,145
Tangible Assets 5 6,863 8,538
18,958 43,683
CURRENT ASSETS
Stocks 6 2,750 7,875
Debtors 7 103,719 41,304
Cash at bank and in hand 109,554 124,962
216,023 174,141
Creditors: Amounts Falling Due Within One Year 8 (111,156 ) (127,853 )
NET CURRENT ASSETS (LIABILITIES) 104,867 46,288
TOTAL ASSETS LESS CURRENT LIABILITIES 123,825 89,971
NET ASSETS 123,825 89,971
CAPITAL AND RESERVES
Called up share capital 9 90 90
Profit and Loss Account 123,735 89,881
SHAREHOLDERS' FUNDS 123,825 89,971
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For the year ending 31 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 Cameron Lugg-Cargill
Director
26/11/2025
The notes on pages 3 to 5 form part of these financial statements.
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Page 3
Notes to the Financial Statements
1. General Information
First4tech Limited is a private company, limited by shares, incorporated in England & Wales, registered number 06032192 . The registered office is Baring House, 6 Baring Crescent, Exeter, Devon, EX1 1TL.
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 the profit and loss account over its estimated economic life of .... years.
2.4. Intangible Fixed Assets and Amortisation - Other Intangible
Other intangible assets are amortised to profit and loss account over its estimated economic life on the following basis..
Patents 100% Straight Line
Logo 10% 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:
Fixtures & Fittings 20% Straight Line
Computer Equipment 33.33% 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.
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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: 4 (2024: 3)
4 3
4. Intangible Assets
Goodwill Other Intangible Assets Total
£ £ £
Cost
As at 1 April 2024 60,000 500 60,500
As at 31 March 2025 60,000 500 60,500
Amortisation
As at 1 April 2024 25,000 355 25,355
Provided during the period 23,000 50 23,050
As at 31 March 2025 48,000 405 48,405
Net Book Value
As at 31 March 2025 12,000 95 12,095
As at 1 April 2024 35,000 145 35,145
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5. Tangible Assets
Fixtures & Fittings Computer Equipment Total
£ £ £
Cost
As at 1 April 2024 3,477 12,752 16,229
Additions 1,000 1,385 2,385
As at 31 March 2025 4,477 14,137 18,614
Depreciation
As at 1 April 2024 1,143 6,548 7,691
Provided during the period 726 3,334 4,060
As at 31 March 2025 1,869 9,882 11,751
Net Book Value
As at 31 March 2025 2,608 4,255 6,863
As at 1 April 2024 2,334 6,204 8,538
6. Stocks
2025 2024
£ £
Stock 2,750 7,875
7. Debtors
2025 2024
£ £
Due within one year
Trade debtors 103,719 41,304
8. Creditors: Amounts Falling Due Within One Year
2025 2024
£ £
Trade creditors 20,753 20,847
Bank loans and overdrafts 638 92
Corporation tax 29,539 23,967
Other taxes and social security 1,636 2,262
VAT 19,533 9,436
Directors' loan accounts 39,057 71,249
111,156 127,853
9. Share Capital
2025 2024
£ £
Allotted, Called up and fully paid 90 90
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