Acorah Software Products - Accounts Production 14.5.601 false true true 31 July 2022 1 August 2021 false 1 August 2022 31 July 2023 31 July 2023 12129868 Mr Huajing Li Huajing Li Layer Two, Building B4, Jiulonghu International Headquarters Park, Jiangning Development Zone, Jiangning District, Nanjing City, China true iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 12129868 2022-07-31 12129868 2023-07-31 12129868 2022-08-01 2023-07-31 12129868 frs-core:CurrentFinancialInstruments 2023-07-31 12129868 frs-core:Non-currentFinancialInstruments 2023-07-31 12129868 frs-core:ComputerEquipment 2023-07-31 12129868 frs-core:ComputerEquipment 2022-08-01 2023-07-31 12129868 frs-core:ComputerEquipment 2022-07-31 12129868 frs-core:ShareCapital 2023-07-31 12129868 frs-core:RetainedEarningsAccumulatedLosses 2023-07-31 12129868 frs-bus:PrivateLimitedCompanyLtd 2022-08-01 2023-07-31 12129868 frs-bus:FilletedAccounts 2022-08-01 2023-07-31 12129868 frs-bus:SmallEntities 2022-08-01 2023-07-31 12129868 frs-bus:AuditExempt-NoAccountantsReport 2022-08-01 2023-07-31 12129868 frs-bus:SmallCompaniesRegimeForAccounts 2022-08-01 2023-07-31 12129868 1 2022-08-01 2023-07-31 12129868 frs-bus:Director1 2022-08-01 2023-07-31 12129868 frs-bus:Director1 2022-07-31 12129868 frs-bus:Director1 2023-07-31 12129868 frs-countries:EnglandWales 2022-08-01 2023-07-31 12129868 2021-07-31 12129868 2022-07-31 12129868 2021-08-01 2022-07-31 12129868 frs-core:CurrentFinancialInstruments 2022-07-31 12129868 frs-core:Non-currentFinancialInstruments 2022-07-31 12129868 frs-core:ShareCapital 2022-07-31 12129868 frs-core:RetainedEarningsAccumulatedLosses 2022-07-31
Registered number: 12129868
Leiton Future Research Center Limited
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: 12129868
2023 2022
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 303 -
303 -
CURRENT ASSETS
Debtors 5 572 15,565
Cash at bank and in hand 27,069 23,309
27,641 38,874
Creditors: Amounts Falling Due Within One Year 6 (2,339 ) (1,980 )
NET CURRENT ASSETS (LIABILITIES) 25,302 36,894
TOTAL ASSETS LESS CURRENT LIABILITIES 25,605 36,894
Creditors: Amounts Falling Due After More Than One Year 7 (60,000 ) (30,000 )
NET (LIABILITIES)/ASSETS (34,395 ) 6,894
CAPITAL AND RESERVES
Called up share capital 8 30,000 30,000
Profit and Loss Account (64,395 ) (23,106 )
SHAREHOLDERS' FUNDS (34,395) 6,894
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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 Huajing Li
Director
29/03/2024
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
Leiton Future Research Center Limited is a private company, limited by shares, incorporated in England & Wales, registered number 12129868 . The registered office is Tms House, Cray Avenue, Orpington, BR5 3QB.
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. Going Concern Disclosure
The director has confirmed that the company will continue to receive financial support from its parent company and other companies within the group, for a period of at least 12 months from the date of approval of the financial statements. Therefore the financial statements are prepared on a going concern basis.
2.3. 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.
2.4. 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 25% Straight line
2.5. 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.
2.6. 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.
...CONTINUED
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2.6. Taxation - continued
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.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 1 (2022: 1)
1 1
4. Tangible Assets
Computer Equipment
£
Cost
As at 1 August 2022 -
Additions 393
As at 31 July 2023 393
Depreciation
As at 1 August 2022 -
Provided during the period 90
As at 31 July 2023 90
Net Book Value
As at 31 July 2023 303
As at 1 August 2022 -
5. Debtors
2023 2022
£ £
Due within one year
Prepayments and accrued income 72 -
Directors' loan accounts - 15,065
Amounts owed by other participating interests 500 500
572 15,565
6. Creditors: Amounts Falling Due Within One Year
2023 2022
£ £
Accruals and deferred income 2,006 1,980
Directors' loan accounts 333 -
2,339 1,980
7. Creditors: Amounts Falling Due After More Than One Year
2023 2022
£ £
Amounts owed to parent undertaking 60,000 30,000
60,000 30,000
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8. Share Capital
2023 2022
£ £
Allotted, Called up and fully paid 30,000 30,000
9. Directors Advances, Credits and Guarantees
Included within Debtors are the following loans to directors:
As at 1 August 2022 Amounts advanced Amounts repaid Amounts written off As at 31 July 2023
£ £ £ £ £
Mr Huajing Li 15,065 - 15,065 - -
The above loan is unsecured, interest free and repayable on demand.
10. Ultimate Parent Undertaking and Controlling Party
The company's immediate and ultimate parent undertaking is Leiton Future Research Institution Jiangsu Co., Ltd . Leiton Future Research Institution Jiangsu Co., Ltd was incorporated in China. Copies of the group accounts may be obtained from the secretary, Layer Two, Building B4, Jiulonghu International Headquarters Park, Jiangning Development Zone, Jiangning District, Nanjing City, China . The ultimate controlling party is Huajing Li .
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