Acorah Software Products - Accounts Production 14.5.601 false true 31 July 2022 1 August 2021 false 1 August 2022 31 July 2023 31 July 2023 09687893 Mr Abid Zafar Mr Malhar Umesh Kharat iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 09687893 2022-07-31 09687893 2023-07-31 09687893 2022-08-01 2023-07-31 09687893 frs-core:CurrentFinancialInstruments 2023-07-31 09687893 frs-core:Non-currentFinancialInstruments 2023-07-31 09687893 frs-core:PlantMachinery 2023-07-31 09687893 frs-core:PlantMachinery 2022-08-01 2023-07-31 09687893 frs-core:PlantMachinery 2022-07-31 09687893 frs-core:ShareCapital 2023-07-31 09687893 frs-core:RetainedEarningsAccumulatedLosses 2023-07-31 09687893 frs-bus:PrivateLimitedCompanyLtd 2022-08-01 2023-07-31 09687893 frs-bus:FilletedAccounts 2022-08-01 2023-07-31 09687893 frs-bus:SmallEntities 2022-08-01 2023-07-31 09687893 frs-bus:AuditExempt-NoAccountantsReport 2022-08-01 2023-07-31 09687893 frs-bus:SmallCompaniesRegimeForAccounts 2022-08-01 2023-07-31 09687893 frs-bus:Director1 2022-08-01 2023-07-31 09687893 frs-bus:Director2 2022-08-01 2023-07-31 09687893 frs-core:CurrentFinancialInstruments 9 2023-07-31 09687893 frs-countries:EnglandWales 2022-08-01 2023-07-31 09687893 2021-07-31 09687893 2022-07-31 09687893 2021-08-01 2022-07-31 09687893 frs-core:CurrentFinancialInstruments 2022-07-31 09687893 frs-core:Non-currentFinancialInstruments 2022-07-31 09687893 frs-core:ShareCapital 2022-07-31 09687893 frs-core:RetainedEarningsAccumulatedLosses 2022-07-31 09687893 frs-core:CurrentFinancialInstruments 9 2022-07-31
Registered number: 09687893
PHONE FIXED LTD
Unaudited Financial Statements
For The Year Ended 31 July 2023
Unaudited Financial Statements
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 09687893
2023 2022
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 4,418 5,522
4,418 5,522
CURRENT ASSETS
Stocks 5 33,000 30,000
Debtors 6 5,959 5,752
Cash at bank and in hand - 94
38,959 35,846
Creditors: Amounts Falling Due Within One Year 7 (51,198 ) (28,692 )
NET CURRENT ASSETS (LIABILITIES) (12,239 ) 7,154
TOTAL ASSETS LESS CURRENT LIABILITIES (7,821 ) 12,676
Creditors: Amounts Falling Due After More Than One Year 8 (29,952 ) (29,952 )
NET LIABILITIES (37,773 ) (17,276 )
CAPITAL AND RESERVES
Called up share capital 9 1 1
Profit and Loss Account (37,774 ) (17,277 )
SHAREHOLDERS' FUNDS (37,773) (17,276)
Page 1
Page 2
For the year ending 31 July 2023 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 Malhar Umesh Kharat
Director
20 March 2024
The notes on pages 3 to 5 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
PHONE FIXED LTD is a private company, limited by shares, incorporated in England & Wales, registered number 09687893 . The registered office is Unit 14 The Mall, Luton, LU1 2TA.
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. 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 20%
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.
2.5. Government Grant
Government grants are recognised in the profit and loss account in an appropriate manner that matches them with the expenditure towards which they are intended to contribute.
Grants for immediate financial support or to cover costs already incurred are recognised immediately in the profit and loss account. Grants towards general activities of the entity over a specific period are recognised in the profit and loss account over that period.
Grants towards fixed assets are recognised over the expected useful lives of the related assets and are treated as deferred income and released to the profit and loss account over the useful life of the asset concerned.
All grants in the profit and loss account are recognised when all conditions for receipt have been complied with.
Page 3
Page 4
3. Average Number of Employees
Average number of employees, including directors, during the year was: 3 (2022: 3)
3 3
4. Tangible Assets
Plant & Machinery
£
Cost
As at 1 August 2022 15,200
As at 31 July 2023 15,200
Depreciation
As at 1 August 2022 9,678
Provided during the period 1,104
As at 31 July 2023 10,782
Net Book Value
As at 31 July 2023 4,418
As at 1 August 2022 5,522
5. Stocks
2023 2022
£ £
Stock 33,000 30,000
6. Debtors
2023 2022
£ £
Due within one year
Trade debtors 5,451 5,451
VAT 508 301
5,959 5,752
Page 4
Page 5
7. Creditors: Amounts Falling Due Within One Year
2023 2022
£ £
Trade creditors 10,702 9,476
Bank loans and overdrafts 1,104 -
Other taxes and social security 70 70
Net wages 1,811 5,536
Pension Liability (67 ) -
Accruals and deferred income 375 375
Directors' loan accounts 37,203 13,235
51,198 28,692
8. Creditors: Amounts Falling Due After More Than One Year
2023 2022
£ £
Bank loans 29,952 29,952
29,952 29,952
9. Share Capital
2023 2022
£ £
Allotted, Called up and fully paid 1 1
Page 5