Acorah Software Products - Accounts Production 15.0.500 false true 31 January 2023 1 February 2022 false 1 February 2023 31 January 2024 31 January 2024 08831479 Mr S Obeysekara Mr K Obeysekara Mrs N Obeysekara iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 08831479 2023-01-31 08831479 2024-01-31 08831479 2023-02-01 2024-01-31 08831479 frs-core:CurrentFinancialInstruments 2024-01-31 08831479 frs-core:ComputerEquipment 2024-01-31 08831479 frs-core:ComputerEquipment 2023-02-01 2024-01-31 08831479 frs-core:ComputerEquipment 2023-01-31 08831479 frs-core:PlantMachinery 2024-01-31 08831479 frs-core:PlantMachinery 2023-02-01 2024-01-31 08831479 frs-core:PlantMachinery 2023-01-31 08831479 frs-core:ShareCapital 2024-01-31 08831479 frs-core:RetainedEarningsAccumulatedLosses 2024-01-31 08831479 frs-bus:PrivateLimitedCompanyLtd 2023-02-01 2024-01-31 08831479 frs-bus:FilletedAccounts 2023-02-01 2024-01-31 08831479 frs-bus:SmallEntities 2023-02-01 2024-01-31 08831479 frs-bus:AuditExempt-NoAccountantsReport 2023-02-01 2024-01-31 08831479 frs-bus:SmallCompaniesRegimeForAccounts 2023-02-01 2024-01-31 08831479 frs-core:UnlistedNon-exchangeTraded 2024-01-31 08831479 frs-core:UnlistedNon-exchangeTraded 2023-01-31 08831479 frs-core:CostValuation frs-core:UnlistedNon-exchangeTraded 2023-01-31 08831479 frs-core:AdditionsToInvestments frs-core:UnlistedNon-exchangeTraded 2024-01-31 08831479 frs-core:CostValuation frs-core:UnlistedNon-exchangeTraded 2024-01-31 08831479 frs-core:ProvisionsForImpairmentInvestments frs-core:UnlistedNon-exchangeTraded 2023-01-31 08831479 frs-core:ProvisionsForImpairmentInvestments frs-core:UnlistedNon-exchangeTraded 2024-01-31 08831479 frs-bus:Director1 2023-02-01 2024-01-31 08831479 frs-bus:Director2 2023-02-01 2024-01-31 08831479 frs-bus:Director3 2023-02-01 2024-01-31 08831479 frs-countries:EnglandWales 2023-02-01 2024-01-31 08831479 2022-01-31 08831479 2023-01-31 08831479 2022-02-01 2023-01-31 08831479 frs-core:CurrentFinancialInstruments 2023-01-31 08831479 frs-core:ShareCapital 2023-01-31 08831479 frs-core:RetainedEarningsAccumulatedLosses 2023-01-31
Registered number: 08831479
KNSI Aviation Engineering Limited
Financial Statements
For The Year Ended 31 January 2024
BBK Partnership
Chartered Accountants & Statutory Auditors
1 Beauchamp Court
10 Victors Way
Barnet
Hertfordshire
EN5 5TZ
Contents
Page
Company Information 1
Statement of Financial Position 2—3
Notes to the Financial Statements 4—7
Page 1
Company Information
Directors Mr S Obeysekara
Mr K Obeysekara
Mrs N Obeysekara
Company Number 08831479
Registered Office Suite 11b Diamond Hangar- Aviation Hub
Long Border Road
London Stansted
Essex
CM24 1RE
Accountants BBK Partnership
Chartered Accountants & Statutory Auditors
1 Beauchamp Court
10 Victors Way
Barnet
Hertfordshire
EN5 5TZ
Page 1
Page 2
Statement of Financial Position
Registered number: 08831479
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 99,853 104,002
Investments 5 537,652 409,540
637,505 513,542
CURRENT ASSETS
Stocks 6 30,697 22,293
Debtors 7 70,028 263,268
Cash at bank and in hand 740,793 734,109
841,518 1,019,670
Creditors: Amounts Falling Due Within One Year 8 (145,159 ) (266,350 )
NET CURRENT ASSETS (LIABILITIES) 696,359 753,320
TOTAL ASSETS LESS CURRENT LIABILITIES 1,333,864 1,266,862
NET ASSETS 1,333,864 1,266,862
CAPITAL AND RESERVES
Called up share capital 10 100 100
Income Statement 1,333,764 1,266,762
SHAREHOLDERS' FUNDS 1,333,864 1,266,862
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
Mr K Obeysekara
Director
17/05/2024
The notes on pages 4 to 7 form part of these financial statements.
Page 3
Page 4
Notes to the Financial Statements
1. General Information
KNSI Aviation Engineering Limited is a private company, limited by shares, incorporated in England & Wales, registered number 08831479 . The registered office is Suite 11b Diamond Hangar- Aviation Hub, Long Border Road, London Stansted, Essex, CM24 1RE.
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. 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.
2.3. 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%
Computer Equipment 20%
2.4. 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. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
2.5. Foreign Currencies
Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the statement of financial position 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.
Page 4
Page 5
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.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 10 (2023: 9)
10 9
4. Tangible Assets
Plant & Machinery Computer Equipment Total
£ £ £
Cost
As at 1 February 2023 52,115 115,607 167,722
Additions 186 16,368 16,554
As at 31 January 2024 52,301 131,975 184,276
Depreciation
As at 1 February 2023 10,728 52,992 63,720
Provided during the period 4,906 15,797 20,703
As at 31 January 2024 15,634 68,789 84,423
Net Book Value
As at 31 January 2024 36,667 63,186 99,853
As at 1 February 2023 41,387 62,615 104,002
Page 5
Page 6
5. Investments
Unlisted
£
Cost
As at 1 February 2023 409,540
Additions 128,112
As at 31 January 2024 537,652
Provision
As at 1 February 2023 -
As at 31 January 2024 -
Net Book Value
As at 31 January 2024 537,652
As at 1 February 2023 409,540
6. Stocks
2024 2023
£ £
Finished goods 30,697 22,293
7. Debtors
2024 2023
£ £
Due within one year
Trade debtors 153,271 183,061
Other debtors (83,243) 80,207
70,028 263,268
8. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 53,267 150,826
Corporation tax 88,463 113,368
Social security and other tax - 1
Pension Liability 2,729 2,155
Accrued expenses 700 -
145,159 266,350
9. Provisions for Liabilities
Page 6
Page 7
10. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 100 100
11. Dividends
2024 2023
£ £
On equity shares:
Final dividend paid 200,000 200,000
Page 7