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Registered number: 04903291
TRUGANINI LTD
Financial Statements
For The Year Ended 31 January 2024
The Curtis Partnership
1 Tape Street
Cheadle
Stoke On Trent
Staffordshire
ST10 1BB
Financial Statements
Contents
Page
Accountant's Report 1
Statement of Financial Position 2—3
Notes to the Financial Statements 4—8
Page 1
Accountant's Report
In accordance with the engagement letter dated , 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 statement of financial position as at year ended 31 January 2024 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
5th April 2024
The Curtis Partnership
1 Tape Street
Cheadle
Stoke On Trent
Staffordshire
ST10 1BB
Page 1
Page 2
Statement of Financial Position
Registered number: 04903291
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 5 51,260 61,999
51,260 61,999
CURRENT ASSETS
Debtors 6 11,704 24,659
Cash at bank and in hand 26,357 3,840
38,061 28,499
Creditors: Amounts Falling Due Within One Year 7 (68,686 ) (57,846 )
NET CURRENT ASSETS (LIABILITIES) (30,625 ) (29,347 )
TOTAL ASSETS LESS CURRENT LIABILITIES 20,635 32,652
Creditors: Amounts Falling Due After More Than One Year 8 (13,333 ) (23,333 )
PROVISIONS FOR LIABILITIES
Deferred Taxation 10 (5,166 ) (7,113 )
NET ASSETS 2,136 2,206
CAPITAL AND RESERVES
Called up share capital 12 2 2
Income Statement 2,134 2,204
SHAREHOLDERS' FUNDS 2,136 2,206
Page 2
Page 3
For the year ending 31 January 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 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 Income Statement.
On behalf of the board
Mrs Dawn Mellor
Director
Mr Christopher Mellor
Director
5th April 2024
The notes on pages 4 to 8 form part of these financial statements.
Page 3
Page 4
Notes to the Financial Statements
1. General Information
TRUGANINI LTD is a private company, limited by shares, incorporated in England & Wales, registered number 04903291 . The registered office is 1 Tape Street, Cheadle, Stoke On Trent, Staffordshire, ST10 1BB.
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 directors have identified material uncertainties related to events or conditions that may cast significant doubt about the company's ability to continue as a going concern, however, the going concern basis remains appropriate.
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. Intangible Fixed Assets and Amortisation - Goodwill
Goodwill is the difference between amounts paid on the acquisition of a business and the fair value of the separable net assets. It is amortised to income statement over its estimated economic life of 5 years.
2.5. Intangible Fixed Assets and Amortisation - Other Intangible
Other intangible assets are patents and licences It is amortised to income statement over its estimated economic life of 5 years.
2.6. 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:
Leasehold 2% straight line basis
Plant & Machinery 25% reducing balance basis
Motor Vehicles 25% reducing balance basis
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2.7. Leasing and Hire Purchase Contracts
Assets obtained under finance leases are capitalised as tangible fixed assets. Assets acquired under finance leases are depreciated over the shorter of the lease term and their useful lives. Assets acquired under hire purchase contracts are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in the creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the income statement so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.

Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to income statement as incurred.
2.8. 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.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 5 (2023: 4)
5 4
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4. Intangible Assets
Goodwill Other Total
£ £ £
Cost
As at 1 February 2023 5,000 10,000 15,000
As at 31 January 2024 5,000 10,000 15,000
Amortisation
As at 1 February 2023 5,000 10,000 15,000
As at 31 January 2024 5,000 10,000 15,000
5. Tangible Assets
Land & Property
Leasehold Plant & Machinery Motor Vehicles Total
£ £ £ £
Cost
As at 1 February 2023 26,631 39,839 76,517 142,987
Additions - 1,181 - 1,181
Disposals - - (23,517 ) (23,517 )
As at 31 January 2024 26,631 41,020 53,000 120,651
Depreciation
As at 1 February 2023 2,070 27,122 51,796 80,988
Provided during the period 491 3,477 5,590 9,558
Disposals - - (21,155 ) (21,155 )
As at 31 January 2024 2,561 30,599 36,231 69,391
Net Book Value
As at 31 January 2024 24,070 10,421 16,769 51,260
As at 1 February 2023 24,561 12,717 24,721 61,999
6. Debtors
2024 2023
£ £
Due within one year
Trade debtors 3,896 16,200
Prepayments and accrued income 6,018 6,780
Other debtors 1,790 1,679
11,704 24,659
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Page 7
7. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Net obligations under finance lease and hire purchase contracts - 2,688
Trade creditors - 1
Bank loans and overdrafts 10,000 10,000
Corporation tax 13,307 10,742
VAT 7,273 6,975
Other creditors 44 53
Accruals and deferred income 3,300 3,115
Directors' loan accounts 34,762 24,272
68,686 57,846
8. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Bank loans 13,333 23,333
13,333 23,333
9. Obligations Under Finance Leases and Hire Purchase
2024 2023
£ £
The future minimum finance lease payments are as follows:
Not later than one year - 2,688
10. Deferred Taxation
The provision for deferred tax is made up as follows:
2024 2023
£ £
Other timing differences 5,166 7,113
11. Provisions for Liabilities
Deferred Tax Total
£ £
As at 1 February 2023 7,113 7,113
Deferred taxation (1,947 ) (1,947 )
Balance at 31 January 2024 5,166 5,166
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12. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 2 2
Page 8