Acorah Software Products - Accounts Production 14.5.601 false true 28 February 2023 1 March 2022 true No description of principal activity 1 March 2023 29 February 2024 29 February 2024 13181899 Mr Eugen Fenyes iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 13181899 2023-02-28 13181899 2024-02-29 13181899 2023-03-01 2024-02-29 13181899 frs-core:CurrentFinancialInstruments 2024-02-29 13181899 frs-core:MotorVehicles 2024-02-29 13181899 frs-core:MotorVehicles 2023-03-01 2024-02-29 13181899 frs-core:MotorVehicles 2023-02-28 13181899 frs-core:PlantMachinery 2024-02-29 13181899 frs-core:PlantMachinery 2023-03-01 2024-02-29 13181899 frs-core:PlantMachinery 2023-02-28 13181899 frs-core:ShareCapital 2024-02-29 13181899 frs-core:RetainedEarningsAccumulatedLosses 2024-02-29 13181899 frs-bus:PrivateLimitedCompanyLtd 2023-03-01 2024-02-29 13181899 frs-bus:FullAccounts 2023-03-01 2024-02-29 13181899 frs-bus:SmallEntities 2023-03-01 2024-02-29 13181899 frs-bus:AuditExempt-NoAccountantsReport 2023-03-01 2024-02-29 13181899 frs-bus:SmallCompaniesRegimeForAccounts 2023-03-01 2024-02-29 13181899 frs-bus:SmallCompaniesRegimeForDirectorsReport 2023-03-01 2024-02-29 13181899 frs-bus:Director1 2023-03-01 2024-02-29 13181899 frs-bus:Director1 2024-02-29 13181899 frs-bus:Director2 2023-03-01 2024-02-29 13181899 frs-bus:Director2 2024-02-29 13181899 frs-bus:Director3 2023-03-01 2024-02-29 13181899 frs-bus:Director3 2024-02-29 13181899 frs-bus:Director4 2023-03-01 2024-02-29 13181899 frs-bus:Director4 2024-02-29 13181899 frs-countries:EnglandWales 2023-03-01 2024-02-29 13181899 2022-02-28 13181899 2023-02-28 13181899 2022-03-01 2023-02-28 13181899 frs-core:CurrentFinancialInstruments 2023-02-28 13181899 frs-core:ShareCapital 2023-02-28 13181899 frs-core:RetainedEarningsAccumulatedLosses 2023-02-28
Registered number: 13181899
GOLD DRAGON LIMITED
Directors' Report and
Unaudited Financial Statements
For The Year Ended 29 February 2024
Contents
Page
Company Information 1
Directors' Report 2
Profit and Loss Account 3
Balance Sheet 4
Notes to the Financial Statements 5—6
Page 1
Company Information
Director Mr Eugen Fenyes
Company Number 13181899
Registered Office 50 Princes Street
Ipswich
IP1 1RJ
Page 1
Page 2
Directors' Report
The directors present their report and the financial statements for the year ended 29 February 2024.
Directors
The directors who held office during the year were as follows:
Mr Joshua Hanlan Appointed 23/05/2023 Resigned 08/08/2023
Mr Eugen Fenyes Appointed 17/11/2023
Mr Afza Tanveer Appointed 08/08/2023 Resigned 17/11/2023
Mr Darren Symes Resigned 23/05/2023
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.
The directors are responsible for the maintenance and integrity of the corporate and financial information included on the company's website. Legislation in the United Kingdom governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.
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
Mr Eugen Fenyes
Director
03/04/2024
Page 2
Page 3
Profit and Loss Account
2024 2023
Notes £ £
TURNOVER 2,856,231 1,933,867
Cost of sales (2,160,034 ) (1,423,993 )
GROSS PROFIT 696,197 509,874
Administrative expenses (260,907 ) (215,086 )
OPERATING PROFIT AND PROFIT BEFORE TAXATION 435,290 294,788
Tax on Profit (56,343 ) (34,235 )
PROFIT AFTER TAXATION BEING PROFIT FOR THE FINANCIAL YEAR 378,947 260,553
The notes on pages 5 to 6 form part of these financial statements.
Page 3
Page 4
Balance Sheet
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 219,120 80,370
219,120 80,370
CURRENT ASSETS
Stocks 5 305,230 186,010
Debtors 6 298,894 209,896
Cash at bank and in hand 163,643 111,349
767,767 507,255
Creditors: Amounts Falling Due Within One Year 7 (197,387 ) (177,072 )
NET CURRENT ASSETS (LIABILITIES) 570,380 330,183
TOTAL ASSETS LESS CURRENT LIABILITIES 789,500 410,553
NET ASSETS 789,500 410,553
CAPITAL AND RESERVES
Called up share capital 8 150,000 150,000
Profit and Loss Account 639,500 260,553
SHAREHOLDERS' FUNDS 789,500 410,553
For the year ending 29 February 2024 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
Mr Eugen Fenyes
Director
03/04/2024
The notes on pages 5 to 6 form part of these financial statements.
Page 4
Page 5
Notes to the Financial Statements
1. General Information
GOLD DRAGON LIMITED is a private company, limited by shares, incorporated in England & Wales, registered number 13181899 . The registered office is 50 Princes Street, Ipswich, IP1 1RJ.
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 15 - 20 %
Motor Vehicles 15 - 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. 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.
Page 5
Page 6
3. Average Number of Employees
Average number of employees, including directors, during the year was: 10 (2023: 9)
10 9
4. Tangible Assets
Plant & Machinery Motor Vehicles Total
£ £ £
Cost
As at 1 March 2023 - 80,370 80,370
Additions 49,610 105,218 154,828
As at 29 February 2024 49,610 185,588 235,198
Depreciation
As at 1 March 2023 - - -
Provided during the period - 16,078 16,078
As at 29 February 2024 - 16,078 16,078
Net Book Value
As at 29 February 2024 49,610 169,510 219,120
As at 1 March 2023 - 80,370 80,370
5. Stocks
2024 2023
£ £
Stock 305,230 186,010
6. Debtors
2024 2023
£ £
Due within one year
Trade debtors 298,894 209,896
7. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 141,044 142,837
Corporation tax 56,343 34,235
197,387 177,072
8. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 150,000 150,000
Page 6