Acorah Software Products - Accounts Production 12.4.009 false No description of principal activity 1 January 2021 31 December 2021 31 December 2021 12355203 Miss Alecia Barnes Mr Daniel Giannopoulos iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 12355203 2020-12-31 12355203 2021-12-31 12355203 2021-01-01 2021-12-31 12355203 frs-core:CurrentFinancialInstruments 2021-12-31 12355203 frs-core:CurrentFinancialInstruments 2021-01-01 2021-12-31 12355203 frs-core:Non-currentFinancialInstruments 2021-12-31 12355203 frs-core:Non-currentFinancialInstruments 2021-01-01 2021-12-31 12355203 frs-core:CurrentFinancialInstruments 2021-01-01 2021-12-31 12355203 frs-core:CurrentFinancialInstruments 2021-12-31 12355203 frs-core:AfterOneYear 2021-01-01 2021-12-31 12355203 frs-core:BetweenOneFiveYears 2021-01-01 2021-12-31 12355203 frs-core:BetweenOneFiveYears 2021-12-31 12355203 frs-core:ComputerEquipment 2021-12-31 12355203 frs-core:ComputerEquipment 2021-01-01 2021-12-31 12355203 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Registered number: 12355203
Lensfayre Ltd
Directors' Report and
Unaudited Financial Statements
For The Year Ended 31 December 2021
TaxAssist Accountants

Directors' Report and Unaudited Financial Statements
Contents
Page
Company Information 1
Directors' Report 2
Accountant's Report 3
Profit and Loss Account 4
Balance Sheet 5—6
Notes to the Financial Statements 7—9
Page 1
Company Information
Directors Miss Alecia Barnes
Mr Daniel Giannopoulos
Company Number 12355203
Registered Office Unit 23 Sneinton Market
Avenue B
Nottingham
Nottinghamshire
NG1 1DU
Accountants TaxAssist Accountants
680 Mansfield Road
Nottingham
NG5 2GE
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Directors' Report
The directors present their report and the financial statements for the year ended 31 December 2021 .
Statement of Directors' Responsibilities
The directors are responsible for preparing the Directors' Report and the financial statements in accordance with applicable law and regulations.
Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing the financial statements the directors are required to:
  • select suitable accounting policies and then apply them consistently;
  • make judgments and accounting estimates that are reasonable and prudent;
  • prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.
The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
Directors
The directors who held office during the year were as follows:
Miss Alecia Barnes
Mr Daniel Giannopoulos
Small Company Rules
This report has been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.
On behalf of the board
Miss Alecia Barnes
Director
14/09/2022
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Accountant's Report
In accordance with the engagement letter dated 29 March 2021, and in order to assist you to fulfil your duties under the Companies Act 2006, we have compiled the financial statements of the company from the accounting records and information and explanations you have given to us.
This report is made to the directors in accordance with the terms of our engagement. Our work has been undertaken to prepare for approval by the directors the financial statements that we have been engaged to compile, to report to the directors that we have done so, and to state those matters that we have agreed to state to them in this report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the Company and the Company's directors for our work or for this report.
You have acknowledged on the balance sheet as at year ended 31 December 2021 your duty to ensure that the company has kept proper accounting records and to prepare financial statements that give a true and fair view under the Companies Act 2006. You consider that the company is exempt from the statutory requirement for an audit for the year.
We have not been instructed to carry out an audit of the financial statements. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the financial statements.
Signed
14/09/2022
TaxAssist Accountants
680 Mansfield Road
Nottingham
NG5 2GE
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Profit and Loss Account
31 December 2021 31 December 2020
Notes £ £
TURNOVER 40,880 31,184
Cost of sales (30,000 ) (23,216 )
GROSS PROFIT 10,880 7,968
Administrative expenses (10,958 ) (5,982 )
Other operating income 2,000 592
OPERATING PROFIT 1,922 2,578
Interest payable and similar charges (28 ) -
PROFIT BEFORE TAXATION 1,894 2,578
Tax on Profit (126 ) (133 )
PROFIT AFTER TAXATION BEING PROFIT FOR THE FINANCIAL YEAR 1,768 2,445
The notes on pages 7 to 9 form part of these financial statements.
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Balance Sheet
31 December 2021 31 December 2020
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 3 3,133 1,905
3,133 1,905
CURRENT ASSETS
Stocks 4 5,448 2,279
Cash at bank and in hand 9,194 2,602
14,642 4,881
Creditors: Amounts Falling Due Within One Year 5 (10,273 ) (6,685 )
NET CURRENT ASSETS (LIABILITIES) 4,369 (1,804 )
TOTAL ASSETS LESS CURRENT LIABILITIES 7,502 101
Creditors: Amounts Falling Due After More Than One Year 6 (5,633 ) -
NET ASSETS 1,869 101
CAPITAL AND RESERVES
Called up share capital 7 100 100
Profit and Loss Account 1,769 1
SHAREHOLDERS' FUNDS 1,869 101
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For the year ending 31 December 2021 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 in accordance with the provisions applicable to companies subject to the small companies' regime.
On behalf of the board
Miss Alecia Barnes
Director
14/09/2022
The notes on pages 7 to 9 form part of these financial statements.
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Notes to the Financial Statements
1. Accounting Policies
1.1. Basis of Preparation of Financial Statements
The financial statements are prepared under the historical cost convention and in accordance with the FRS 102 Section 1A Small Entities - The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.
1.2. 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.
1.3. 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:
Plant & Machinery 25% p.a. Straight Line
Computer Equipment 25% p.a. Straight Line
1.4. 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.
1.5. 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.
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 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.
2. Average Number of Employees
Average number of employees, including directors, during the year was as follows: 2 (2020: 2)
2 2
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3. Tangible Assets
Plant & Machinery Computer Equipment Total
£ £ £
Cost
As at 1 January 2021 120 2,420 2,540
Additions 575 1,910 2,485
As at 31 December 2021 695 4,330 5,025
Depreciation
As at 1 January 2021 30 605 635
Provided during the period 174 1,083 1,257
As at 31 December 2021 204 1,688 1,892
Net Book Value
As at 31 December 2021 491 2,642 3,133
As at 1 January 2021 90 1,815 1,905
4. Stocks
31 December 2021 31 December 2020
£ £
Stock - finished goods 5,448 2,279
5,448 2,279
5. Creditors: Amounts Falling Due Within One Year
31 December 2021 31 December 2020
£ £
Trade creditors - 1
Bank loans and overdrafts 867 -
Corporation tax 126 133
Other Loans - 2,000
Accruals and deferred income 480 480
Directors' loan accounts 8,800 4,071
10,273 6,685
6. Creditors: Amounts Falling Due After More Than One Year
31 December 2021 31 December 2020
£ £
Bank loans 5,633 -
5,633 -
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7. Share Capital
31 December 2021 31 December 2020
Allotted, Called up and fully paid 100 100
8. General Information
Lensfayre Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 12355203 . The registered office is Unit 23 Sneinton Market, Avenue B, Nottingham, Nottinghamshire, NG1 1DU.
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