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Registered number: 13498783
AIV Capital Limited
Unaudited Financial Statements
For The Year Ended 31 July 2023
LAS Accountants LLP
Unaudited Financial Statements
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 13498783
31 July 2023 31 July 2022
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 1,669 723
Investment Properties 5 5,226 -
6,895 723
CURRENT ASSETS
Debtors 6 90,997 1,093
Cash at bank and in hand 97,685 106,586
188,682 107,679
Creditors: Amounts Falling Due Within One Year 7 (14,536 ) (4,535 )
NET CURRENT ASSETS (LIABILITIES) 174,146 103,144
TOTAL ASSETS LESS CURRENT LIABILITIES 181,041 103,867
PROVISIONS FOR LIABILITIES
Deferred Taxation (351 ) -
NET ASSETS 180,690 103,867
CAPITAL AND RESERVES
Called up share capital 8 264,300 132,300
Profit and Loss Account (83,610 ) (28,433 )
SHAREHOLDERS' FUNDS 180,690 103,867
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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 A E Khatri
Director
16/04/2024
The notes on pages 3 to 5 form part of these financial statements.
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Notes to the Financial Statements
1. General Information
AIV Capital Limited is a private company, limited by shares, incorporated in England & Wales, registered number 13498783 . The registered office is C/O LAS Accountants LLP, No.1 Royal Exchange, London, EC3V 3DG.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
These financial statements have been prepared in accordance with the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.
The financial statements are prepared in UK sterling, which is the functional currency of the entity. Monetary amounts in these financial statements are rounded to the nearest UK pound.
The principle accounting polices adopted are set below.
These financial statements for the year ended 30 September 2022 are the first financial statements of Riiot Digital Ltd prepared in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland. The date of transition to FRS 102 was 1 October 2021. The reported financial position and financial performance for the previous period are not affected by the transition to FRS 102.
2.2. Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.
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:
Computer Equipment 33.33% Straight line
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is  credited or charged to profit or loss.
2.4. Investment Properties
All investment properties are carried at fair value determined annually and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided for. Changes in fair value are recognised in the profit and loss account.
2.5. Financial Instruments
The company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other debtors, creditors, loans from banks and other third parties, loans to related parties and investments in non-puttable ordinary shares.
2.6. Foreign Currencies
Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate ruling on the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
2.7. Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.
Current or deferred taxation assets and liabilities are not discounted.
Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the statement of financial position date.
Deferred Tax
Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor
the accounting profit.
The carrying amount of deferred tax assets is reviewed at each reporting end date 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 is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.
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2.8. Cash and Cash Equivalents
Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.
2.9. Critical Accounting Judgements And Key Sources of Estimation Uncertainty
In the application of the company's accounting policies management is required to make judgements, estimates and assumptions about the carrying value of assets and liabilities that are not readily ascertainable from other sources. The estimates and underlying assumptions are based on historical experience and other factors that are considered to be relevant. Actual outcomes may differ from these estimates.
The estimates and underlying assumptions are reviewed on a continuing basis. Revisions to accounting estimates are recognised in the period in which the estimates are revised.
The key areas of estimation uncertainty that have a significant effect on the amounts recognised in the financial statements are described below:
Accrued Expenditure
The company includes a provision for invoices which are yet to be received from and amounts paid in advance to suppliers.These provisions are
estimated based upon the expected values of the invoices which are issued and service received following the period end.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 2 (2022: 2)
2 2
4. Tangible Assets
Computer Equipment
£
Cost
As at 1 August 2022 1,084
Additions 1,962
As at 31 July 2023 3,046
Depreciation
As at 1 August 2022 361
Provided during the period 1,016
As at 31 July 2023 1,377
Net Book Value
As at 31 July 2023 1,669
As at 1 August 2022 723
5. Investment Property
31 July 2023
£
Fair Value
As at 1 August 2022 -
Additions 5,226
As at 31 July 2023 5,226
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6. Debtors
31 July 2023 31 July 2022
£ £
Due within one year
Other debtors 89,634 -
Unpaid share capital 133 133
VAT 1,230 960
90,997 1,093
7. Creditors: Amounts Falling Due Within One Year
31 July 2023 31 July 2022
£ £
Trade creditors 5,888 960
Other taxes and social security 3,991 811
Net wages 3,607 2,764
Accruals and deferred income 1,050 -
14,536 4,535
8. Share Capital
31 July 2023 31 July 2022
£ £
Allotted, Called up and fully paid 264,300 132,300
The nominal value per share is £1. During the year the company issued 132,000 Ordinary C Shares. As at 31 July 2023 there are 166 Ordinary A Shares, 134 Ordinary B Shares and 264,000 Ordinary C Shares in issue.
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