Acorah Software Products - Accounts Production 14.5.601 false true true 31 October 2021 1 November 2020 false 1 November 2021 31 October 2022 31 October 2022 06761452 Mr Dharmeshkumar Amin Mr Mukund Amin Mr Rajnikant Champaklal Jani iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 06761452 2021-10-31 06761452 2022-10-31 06761452 2021-11-01 2022-10-31 06761452 frs-core:CurrentFinancialInstruments 2022-10-31 06761452 frs-core:Non-currentFinancialInstruments 2022-10-31 06761452 frs-core:NetGoodwill 2022-10-31 06761452 frs-core:NetGoodwill 2021-11-01 2022-10-31 06761452 frs-core:NetGoodwill 2021-10-31 06761452 frs-core:PlantMachinery 2022-10-31 06761452 frs-core:PlantMachinery 2021-11-01 2022-10-31 06761452 frs-core:PlantMachinery 2021-10-31 06761452 frs-core:ShareCapital 2022-10-31 06761452 frs-core:RetainedEarningsAccumulatedLosses 2022-10-31 06761452 frs-bus:PrivateLimitedCompanyLtd 2021-11-01 2022-10-31 06761452 frs-bus:FilletedAccounts 2021-11-01 2022-10-31 06761452 frs-bus:SmallEntities 2021-11-01 2022-10-31 06761452 frs-bus:AuditExempt-NoAccountantsReport 2021-11-01 2022-10-31 06761452 frs-bus:SmallCompaniesRegimeForAccounts 2021-11-01 2022-10-31 06761452 frs-bus:Director1 2021-11-01 2022-10-31 06761452 frs-bus:Director2 2021-11-01 2022-10-31 06761452 frs-bus:Director3 2021-11-01 2022-10-31 06761452 frs-countries:EnglandWales 2021-11-01 2022-10-31 06761452 2020-10-31 06761452 2021-10-31 06761452 2020-11-01 2021-10-31 06761452 frs-core:CurrentFinancialInstruments 2021-10-31 06761452 frs-core:Non-currentFinancialInstruments 2021-10-31 06761452 frs-core:ShareCapital 2021-10-31 06761452 frs-core:RetainedEarningsAccumulatedLosses 2021-10-31
Registered number: 06761452
Affinity Associates (JTA) Limited
Unaudited Financial Statements
For The Year Ended 31 October 2022
Affinity Associates Limited
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 06761452
2022 2021
Notes £ £ £ £
FIXED ASSETS
Intangible Assets 4 216,000 -
Tangible Assets 5 800 -
216,800 -
CURRENT ASSETS
Debtors 6 22,923 70,399
Cash at bank and in hand 60,043 93,886
82,966 164,285
Creditors: Amounts Falling Due Within One Year 7 (25,479 ) (104,182 )
NET CURRENT ASSETS (LIABILITIES) 57,487 60,103
TOTAL ASSETS LESS CURRENT LIABILITIES 274,287 60,103
Creditors: Amounts Falling Due After More Than One Year 8 (273,468 ) (14,333 )
NET ASSETS 819 45,770
CAPITAL AND RESERVES
Called up share capital 9 1,111 1,111
Profit and Loss Account (292 ) 44,659
SHAREHOLDERS' FUNDS 819 45,770
Page 1
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For the year ending 31 October 2022 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 Dharmeshkumar Amin
Director
22/04/2024
The notes on pages 3 to 5 form part of these financial statements.
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Page 3
Notes to the Financial Statements
1. General Information
Affinity Associates (JTA) Limited is a private company, limited by shares, incorporated in England & Wales, registered number 06761452 . The registered office is 11/12 Hallmark Trading Centre Fourth Way, Wembley, Middlesex, HA9 0LB.
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 profit and loss account over its estimated economic life of .... years.
2.5. 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% reducing balance
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.
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.
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3. Average Number of Employees
Average number of employees, including directors, during the year was: 3 (2021: 1)
3 1
4. Intangible Assets
Goodwill
£
Cost
As at 1 November 2021 -
Additions 270,000
As at 31 October 2022 270,000
Amortisation
As at 1 November 2021 -
Provided during the period 54,000
As at 31 October 2022 54,000
Net Book Value
As at 31 October 2022 216,000
As at 1 November 2021 -
5. Tangible Assets
Plant & Machinery
£
Cost
As at 1 November 2021 -
Additions 1,000
As at 31 October 2022 1,000
Depreciation
As at 1 November 2021 -
Provided during the period 200
As at 31 October 2022 200
Net Book Value
As at 31 October 2022 800
As at 1 November 2021 -
6. Debtors
2022 2021
£ £
Due within one year
Trade debtors 22,141 17,886
Other debtors 782 52,513
22,923 70,399
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7. Creditors: Amounts Falling Due Within One Year
2022 2021
£ £
Trade creditors 3,870 94,391
Bank loans and overdrafts 4,000 4,000
Taxation and social security 17,609 5,791
25,479 104,182
8. Creditors: Amounts Falling Due After More Than One Year
2022 2021
£ £
Bank loans 12,000 14,333
Amounts owed to group undertakings 170,000 -
Other creditors 91,468 -
273,468 14,333
9. Share Capital
2022 2021
£ £
Allotted, Called up and fully paid 1,111 1,111
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