Acorah Software Products - Accounts Production 15.0.500 false true true 31 March 2023 1 April 2022 false 1 April 2023 31 March 2024 31 March 2024 10447083 Ms Yin Choo Ms Hui Chow Mr Keen Han Ms Yoke Leong Mr William Lim iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 10447083 2023-03-31 10447083 2024-03-31 10447083 2023-04-01 2024-03-31 10447083 frs-core:CurrentFinancialInstruments 2024-03-31 10447083 frs-core:Non-currentFinancialInstruments 2024-03-31 10447083 frs-core:ComputerEquipment 2024-03-31 10447083 frs-core:ComputerEquipment 2023-04-01 2024-03-31 10447083 frs-core:ComputerEquipment 2023-03-31 10447083 frs-core:DevelopmentCostsCapitalisedDevelopmentExpenditure 2023-04-01 2024-03-31 10447083 frs-core:FurnitureFittings 2024-03-31 10447083 frs-core:FurnitureFittings 2023-04-01 2024-03-31 10447083 frs-core:FurnitureFittings 2023-03-31 10447083 frs-core:LandBuildings frs-core:LeasedAssetsHeldAsLessee 2024-03-31 10447083 frs-core:LandBuildings frs-core:LeasedAssetsHeldAsLessee 2023-04-01 2024-03-31 10447083 frs-core:LandBuildings frs-core:LeasedAssetsHeldAsLessee 2023-03-31 10447083 frs-core:OtherResidualIntangibleAssets 2024-03-31 10447083 frs-core:OtherResidualIntangibleAssets 2023-04-01 2024-03-31 10447083 frs-core:OtherResidualIntangibleAssets 2023-03-31 10447083 frs-core:PlantMachinery 2024-03-31 10447083 frs-core:PlantMachinery 2023-04-01 2024-03-31 10447083 frs-core:PlantMachinery 2023-03-31 10447083 frs-core:WithinOneYear 2024-03-31 10447083 frs-core:ShareCapital 2024-03-31 10447083 frs-core:RetainedEarningsAccumulatedLosses 2024-03-31 10447083 frs-bus:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 10447083 frs-bus:FilletedAccounts 2023-04-01 2024-03-31 10447083 frs-bus:SmallEntities 2023-04-01 2024-03-31 10447083 frs-bus:AuditExempt-NoAccountantsReport 2023-04-01 2024-03-31 10447083 frs-bus:SmallCompaniesRegimeForAccounts 2023-04-01 2024-03-31 10447083 frs-bus:Director1 2023-04-01 2024-03-31 10447083 frs-bus:Director2 2023-04-01 2024-03-31 10447083 frs-bus:Director3 2023-04-01 2024-03-31 10447083 frs-bus:Director4 2023-04-01 2024-03-31 10447083 frs-bus:Director5 2023-04-01 2024-03-31 10447083 frs-core:CurrentFinancialInstruments 1 2024-03-31 10447083 frs-countries:EnglandWales 2023-04-01 2024-03-31 10447083 2022-03-31 10447083 2023-03-31 10447083 2022-04-01 2023-03-31 10447083 frs-core:CurrentFinancialInstruments 2023-03-31 10447083 frs-core:Non-currentFinancialInstruments 2023-03-31 10447083 frs-core:BetweenOneFiveYears 2023-03-31 10447083 frs-core:WithinOneYear 2023-03-31 10447083 frs-core:ShareCapital 2023-03-31 10447083 frs-core:RetainedEarningsAccumulatedLosses 2023-03-31 10447083 frs-core:CurrentFinancialInstruments 1 2023-03-31
Registered number: 10447083
Old Chang Kee UK Limited
Unaudited Financial Statements
For The Year Ended 31 March 2024
Unaudited Financial Statements
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—6
Page 1
Balance Sheet
Registered number: 10447083
2024 2023
Notes £ £ £ £
FIXED ASSETS
Intangible Assets 4 29,066 62,108
Tangible Assets 5 127,869 126,777
156,935 188,885
CURRENT ASSETS
Stocks 6 47,007 41,852
Debtors 7 104,656 83,594
Cash at bank and in hand 115,318 66,966
266,981 192,412
Creditors: Amounts Falling Due Within One Year 8 (625,445 ) (485,485 )
NET CURRENT ASSETS (LIABILITIES) (358,464 ) (293,073 )
TOTAL ASSETS LESS CURRENT LIABILITIES (201,529 ) (104,188 )
Creditors: Amounts Falling Due After More Than One Year 9 (926,472 ) (799,871 )
NET LIABILITIES (1,128,001 ) (904,059 )
CAPITAL AND RESERVES
Called up share capital 10 500,000 500,000
Profit and Loss Account (1,628,001 ) (1,404,059 )
SHAREHOLDERS' FUNDS (1,128,001) (904,059)
Page 1
Page 2
For the year ending 31 March 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 Profit and Loss Account.
On behalf of the board
Ms Yoke Leong
Director
09/07/2024
The notes on pages 3 to 6 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Old Chang Kee UK Limited is a private company, limited by shares, incorporated in England & Wales, registered number 10447083 . The registered office is 15a New Row, London, WC2N 4PD.
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 not identified any material uncertainties related to events or conditions that may cast significant doubt about the company's ability to continue as a going concern.
2.3. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes.
2.4. Intangible Fixed Assets and Amortisation - Other Intangible
Other intangible assets is a Lease Premium. It is amortised to profit and loss account over its estimated economic life of 7 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:
Leasehold - 7 years straight line
Plant & Machinery - 3 years straight line
Fixtures & Fittings - 5 years straight line
Computer Equipment - 3 years straight line
2.6. Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.
2.7. 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.
2.8. 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 year 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 asset reflects 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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Page 4
2.9. Pensions
The company operates a defined pension contribution scheme. Contributions are charged to the profit and loss account as they become payable in accordance with the rules of the scheme.
2.10. Government Grant
Government grants are recognised in the profit and loss account in an appropriate manner that matches them with the expenditure towards which they are intended to contribute.
Grants for immediate financial support or to cover costs already incurred are recognised immediately in the profit and loss account. Grants towards general activities of the entity over a specific period are recognised in the profit and loss account over that period.
All grants in the profit and loss account are recognised when all conditions for receipt have been complied with.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 21 (2023: 21)
21 21
4. Intangible Assets
Other
£
Cost
As at 1 April 2023 217,663
As at 31 March 2024 217,663
Amortisation
As at 1 April 2023 155,555
Provided during the period 33,042
As at 31 March 2024 188,597
Net Book Value
As at 31 March 2024 29,066
As at 1 April 2023 62,108
5. Tangible Assets
Land & Property
Leasehold Plant & Machinery Fixtures & Fittings Computer Equipment Total
£ £ £ £ £
Cost
As at 1 April 2023 359,523 92,903 27,421 5,409 485,256
Additions - - 75,392 257 75,649
Disposals (255 ) (1,299 ) - - (1,554 )
As at 31 March 2024 359,268 91,604 102,813 5,666 559,351
Depreciation
As at 1 April 2023 255,615 79,279 20,106 3,479 358,479
Provided during the period 59,461 88 13,068 386 73,003
As at 31 March 2024 315,076 79,367 33,174 3,865 431,482
Net Book Value
As at 31 March 2024 44,192 12,237 69,639 1,801 127,869
As at 1 April 2023 103,908 13,624 7,315 1,930 126,777
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Page 5
6. Stocks
2024 2023
£ £
Finished goods 44,838 41,456
Payments on account 2,169 396
47,007 41,852
7. Debtors
2024 2023
£ £
Due within one year
Trade debtors 13,457 21,453
Prepayments and accrued income 18,443 14,003
Other debtors 24,618 -
Other debtors (1) 48,138 48,138
104,656 83,594
8. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 430,967 311,945
Bank loans and overdrafts 4,797 -
Other taxes and social security 14,066 29,800
VAT 76,822 46,434
Net wages 882 2,223
Pension payable 1,704 7,649
Accruals and deferred income 25,584 16,695
Directors' loan accounts 70,623 70,739
625,445 485,485
9. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Bank loans 35,573 42,482
Other creditors 890,899 757,389
926,472 799,871
10. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 500,000 500,000
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11. Other Commitments
The total of future minimum lease payments under non-cancellable operating leases are as following:
2024 2023
£ £
Not later than one year 12,781 122,500
Later than one year and not later than five years - 13,116
12,781 135,616
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