Acorah Software Products - Accounts Production 14.5.601 false true true 31 August 2022 1 September 2021 true 1 September 2022 31 August 2023 31 August 2023 07618856 M Ostroumov true iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 07618856 2022-08-31 07618856 2023-08-31 07618856 2022-09-01 2023-08-31 07618856 frs-core:CurrentFinancialInstruments 2023-08-31 07618856 frs-core:Non-currentFinancialInstruments 2023-08-31 07618856 frs-core:RevaluationReserve 2022-09-01 2023-08-31 07618856 frs-core:RevaluationReserve 2023-08-31 07618856 frs-core:SharePremium 2023-08-31 07618856 frs-core:ShareCapital 2023-08-31 07618856 frs-core:RetainedEarningsAccumulatedLosses 2022-09-01 2023-08-31 07618856 frs-core:RetainedEarningsAccumulatedLosses 2023-08-31 07618856 frs-bus:PrivateLimitedCompanyLtd 2022-09-01 2023-08-31 07618856 frs-bus:FullAccounts 2022-09-01 2023-08-31 07618856 frs-bus:SmallEntities 2022-09-01 2023-08-31 07618856 frs-bus:AuditExemptWithAccountantsReport 2022-09-01 2023-08-31 07618856 frs-bus:SmallCompaniesRegimeForAccounts 2022-09-01 2023-08-31 07618856 frs-bus:SmallCompaniesRegimeForDirectorsReport 2022-09-01 2023-08-31 07618856 frs-bus:OrdinaryShareClass1 2022-09-01 2023-08-31 07618856 frs-bus:OrdinaryShareClass1 2023-08-31 07618856 1 2022-09-01 2023-08-31 07618856 frs-core:UnlistedNon-exchangeTraded 2023-08-31 07618856 frs-core:UnlistedNon-exchangeTraded 2022-08-31 07618856 frs-core:CostValuation frs-core:UnlistedNon-exchangeTraded 2022-08-31 07618856 frs-core:AdditionsToInvestments frs-core:UnlistedNon-exchangeTraded 2023-08-31 07618856 frs-core:RevaluationsIncreaseDecreaseInInvestments frs-core:UnlistedNon-exchangeTraded 2023-08-31 07618856 frs-core:CostValuation frs-core:UnlistedNon-exchangeTraded 2023-08-31 07618856 frs-core:ProvisionsForImpairmentInvestments frs-core:UnlistedNon-exchangeTraded 2022-08-31 07618856 frs-core:ProvisionsForImpairmentInvestments frs-core:UnlistedNon-exchangeTraded 2023-08-31 07618856 frs-bus:Director1 2022-09-01 2023-08-31 07618856 frs-core:CurrentFinancialInstruments 1 2023-08-31 07618856 2 2022-09-01 2023-08-31 07618856 frs-countries:EnglandWales 2022-09-01 2023-08-31 07618856 2021-08-31 07618856 2022-08-31 07618856 2021-09-01 2022-08-31 07618856 frs-core:CurrentFinancialInstruments 2022-08-31 07618856 frs-core:Non-currentFinancialInstruments 2022-08-31 07618856 frs-core:RevaluationReserve 2021-09-01 2022-08-31 07618856 frs-core:RevaluationReserve 2021-08-31 07618856 frs-core:RevaluationReserve 2022-08-31 07618856 frs-core:SharePremium 2021-08-31 07618856 frs-core:SharePremium 2022-08-31 07618856 frs-core:ShareCapital 2021-08-31 07618856 frs-core:ShareCapital 2022-08-31 07618856 frs-core:RetainedEarningsAccumulatedLosses 2021-09-01 2022-08-31 07618856 frs-core:RetainedEarningsAccumulatedLosses frs-core:PreviouslyStatedAmount 2021-08-31 07618856 frs-core:RetainedEarningsAccumulatedLosses 2022-08-31 07618856 frs-bus:OrdinaryShareClass1 2021-09-01 2022-08-31 07618856 frs-core:CurrentFinancialInstruments 1 2022-08-31 07618856 2 2021-09-01 2022-08-31
Registered number: 07618856
Boson Capital Ltd
Director's Report and
Unaudited Financial Statements
For The Year Ended 31 August 2023
Director's Report and Unaudited Financial Statements
Contents
Page
Company Information 1
Director's Report 2
Accountants' Report 3
Profit and Loss Account 4
Balance Sheet 5—6
Statement of Changes in Equity 7
Notes to the Financial Statements 8—10
Page 1
Company Information
Director M Ostroumov
Company Number 07618856
Registered Office Bank House
81 St Judes Road
Englefield Green
TW20 0DF
Accountants Exceed Accountants Limited
Bank House, 81 St Judes Road
Englefield Green
TW20 0DF
Page 1
Page 2
Director's Report
The director presents his report and the financial statements for the year ended 31 August 2023.
Principal Activity
The company's principal activity continues to be that of the import and export of printing plates.
Directors
The director who held office during the year were as follows:
M Ostroumov
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
M Ostroumov
Director
29/04/2024
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Page 3
Accountants' 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 director in accordance with the terms of our engagement. Our work has been undertaken to prepare for approval by the director the financial statements that we have been engaged to compile, to report to the director 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 director for our work or for this report.
You have acknowledged on the balance sheet as at year ended 31 August 2023 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
29/04/2024
Exceed Accountants Limited
Bank House, 81 St Judes Road
Englefield Green
TW20 0DF
Page 3
Page 4
Profit and Loss Account
2023 2022
Notes $ $
TURNOVER 50,217 62,785
Cost of sales (10,489 ) (6,763 )
GROSS PROFIT 39,728 56,022
Administrative expenses (466,383 ) (552,314 )
Loss on revaluation of investments (39,202 ) (152,897 )
OPERATING LOSS (465,857 ) (649,189 )
Income from Shares in group undertakings - 289,097
Interest payable and similar charges (1,188 ) (311 )
LOSS BEFORE TAXATION (467,045 ) (360,403 )
Tax on Loss 109,185 108,190
LOSS AFTER TAXATION BEING LOSS FOR THE FINANCIAL YEAR (357,860 ) (252,213 )
The notes on pages 8 to 10 form part of these financial statements.
Page 4
Page 5
Balance Sheet
2023 2022
Notes $ $ $ $
FIXED ASSETS
Investments 5 182,996 87,081
182,996 87,081
CURRENT ASSETS
Debtors 6 131,142 179,433
Cash at bank and in hand 15,759 11,883
146,901 191,316
Creditors: Amounts Falling Due Within One Year 7 (640,233 ) (226,842 )
NET CURRENT ASSETS (LIABILITIES) (493,332 ) (35,526 )
TOTAL ASSETS LESS CURRENT LIABILITIES (310,336 ) 51,555
Creditors: Amounts Falling Due After More Than One Year 8 (19,861 ) (23,892 )
NET (LIABILITIES)/ASSETS (330,197 ) 27,663
CAPITAL AND RESERVES
Called up share capital 9 1,559 1,559
Share premium account 140,963 140,963
Revaluation reserve (221,580 ) (182,378 )
Profit and Loss Account (251,139 ) 67,519
SHAREHOLDERS' FUNDS (330,197) 27,663
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Page 6
For the year ending 31 August 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his 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
M Ostroumov
Director
29/04/2024
The notes on pages 8 to 10 form part of these financial statements.
Page 6
Page 7
Statement of Changes in Equity
Share Capital Share Premium Revaluation reserve Profit and Loss Account Total
$ $ $ $ $
As at 1 September 2021 1,559 140,963 (161,703 ) 299,057 279,876
Loss for the year and total comprehensive income - - - (252,213 ) (252,213)
Transfer to/from revaluation reserve - - - 20,675 20,675
Transfer to/from Profit & Loss Account - - (20,675 ) - (20,675)
As at 31 August 2022 and 1 September 2022 1,559 140,963 (182,378 ) 67,519 27,663
Loss for the year and total comprehensive income - - - (357,860 ) (357,860)
Transfer to/from revaluation reserve - - - 39,202 39,202
Transfer to/from Profit & Loss Account - - (39,202 ) - (39,202)
As at 31 August 2023 1,559 140,963 (221,580 ) (251,139 ) (330,197)
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Page 8
Notes to the Financial Statements
1. General Information
Boson Capital Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 07618856 . The registered office is Bank House, 81 St Judes Road, Englefield Green, TW20 0DF.
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 formed a judgement at the time of approving the Annual Financial Statements, that there is a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. For this reason the directors have adopted the going concern basis in preparing the accounts.
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.
Rendering of services
Turnover from the rendering of services is recognised by reference to the stage of completion of the contract.
2.4. 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.
2.5. 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.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 1 (2022: 1)
1 1
4. Currency
The accounts are reported in US Dollar.
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5. Investments
Unlisted
$
Cost
As at 1 September 2022 87,081
Additions 135,117
Revaluations (39,202 )
As at 31 August 2023 182,996
Provision
As at 1 September 2022 -
As at 31 August 2023 -
Net Book Value
As at 31 August 2023 182,996
As at 1 September 2022 87,081
In the opinion of the directors, the fair value of the investments is considered to be $182,996 as at 31 August 2023.
This is made up of 11% investment in Value Chain Lab Limited amounting to $182,996.
6. Debtors
2023 2022
$ $
Due within one year
Trade debtors 1,462 9,806
Other debtors 3,411 44,353
R&D tax credit 109,185 108,190
114,058 162,349
Due after more than one year
Other debtors 17,084 17,084
17,084 17,084
131,142 179,433
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7. Creditors: Amounts Falling Due Within One Year
2023 2022
$ $
Trade creditors 488,362 198,532
Bank loans and overdrafts 1,552 1,667
Other taxes and social security 664 -
Accruals and deferred income 2,156 2,156
Director's loan account 147,499 24,487
640,233 226,842
8. Creditors: Amounts Falling Due After More Than One Year
2023 2022
$ $
Bank loans 16,458 20,489
Other creditors 3,403 3,403
19,861 23,892
9. Share Capital
2023 2022
Allotted, called up and fully paid $ $
1,003 Ordinary Shares of £ 1.554 each 1,559 1,559
10. Related Party Transactions
At the balance sheet date, the company owed the company director, M Ostroumov $147,499 (2022 - $24,487). This loan is short term in nature, interest-free and repayable on demand.
VCL Trading Europe Ltd
Included under debtors is an amount due from VCL Trading Europe Ltd of $Nil (2022 - $44,353). Value Chain Lab Ltd owns 100% of the share capital of VCL Trading Europe Ltd. This loan is interest free and has no fixed date for repayment.
11. Ultimate Controlling Party
The company's ultimate controlling parties are the company's directors and shareholders.
12. Taxation
The company has carried forward losses of £843,099 (2022 - £751,032) to offset against future profits.
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