Acorah Software Products - Accounts Production 15.0.400 false true 30 November 2022 1 December 2021 false 1 December 2022 30 November 2023 30 November 2023 13008246 Ms N Ratanshi Mr G Matuschka iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 13008246 2022-11-30 13008246 2023-11-30 13008246 2022-12-01 2023-11-30 13008246 frs-core:CurrentFinancialInstruments 2023-11-30 13008246 frs-core:BetweenOneFiveYears 2023-11-30 13008246 frs-core:ComputerEquipment 2023-11-30 13008246 frs-core:ComputerEquipment 2022-12-01 2023-11-30 13008246 frs-core:ComputerEquipment 2022-11-30 13008246 frs-core:PlantMachinery 2023-11-30 13008246 frs-core:PlantMachinery 2022-12-01 2023-11-30 13008246 frs-core:PlantMachinery 2022-11-30 13008246 frs-core:WithinOneYear 2023-11-30 13008246 frs-core:SharePremium 2023-11-30 13008246 frs-core:ShareCapital 2023-11-30 13008246 frs-core:RetainedEarningsAccumulatedLosses 2023-11-30 13008246 frs-bus:PrivateLimitedCompanyLtd 2022-12-01 2023-11-30 13008246 frs-bus:FilletedAccounts 2022-12-01 2023-11-30 13008246 frs-bus:SmallEntities 2022-12-01 2023-11-30 13008246 frs-bus:AuditExemptWithAccountantsReport 2022-12-01 2023-11-30 13008246 frs-bus:SmallCompaniesRegimeForAccounts 2022-12-01 2023-11-30 13008246 frs-bus:Director1 2022-12-01 2023-11-30 13008246 frs-bus:Director2 2022-12-01 2023-11-30 13008246 frs-countries:EnglandWales 2022-12-01 2023-11-30 13008246 2021-11-30 13008246 2022-11-30 13008246 2021-12-01 2022-11-30 13008246 frs-core:CurrentFinancialInstruments 2022-11-30 13008246 frs-core:BetweenOneFiveYears 2022-11-30 13008246 frs-core:WithinOneYear 2022-11-30 13008246 frs-core:SharePremium 2022-11-30 13008246 frs-core:ShareCapital 2022-11-30 13008246 frs-core:RetainedEarningsAccumulatedLosses 2022-11-30
Registered number: 13008246
Surfboard Technology Limited
Unaudited Financial Statements
For The Year Ended 30 November 2023
djca Limited
Contents
Page
Accountant's Report 1
Balance Sheet 2—3
Notes to the Financial Statements 4—6
Page 1
Accountant's Report
Report to the directors on the preparation of the unaudited statutory accounts of Surfboard Technology Limited For The Year Ended 30 November 2023
To assist you to fulfil your duties under the Companies Act 2006, I have prepared for your approval the accounts of Surfboard Technology Limited which comprise the Profit and Loss Account, the Balance Sheet and the related notes, from the company’s accounting records and from information and explanations you have given us.
As a practising member of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at http://www.accaglobal.com/en/member/professional-standards/rules-standards/acca-rulebook.html.
This report is made to the directors of Surfboard Technology Limited , as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the accounts of Surfboard Technology Limited and state those matters that we have agreed to state to the directors of Surfboard Technology Limited , as a body, in this report in accordance with the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/content/dam/ACCA_Global/Technical/fact/technical-factsheet-163.pdf. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Surfboard Technology Limited and its directors as a body for our work or for this report.
It is your duty to ensure that Surfboard Technology Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit or loss of Surfboard Technology Limited . You consider that Surfboard Technology Limited is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit or a review of the accounts of Surfboard Technology Limited . 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
Robert Fiford FCCA
29/07/2024
djca Limited
ACCA
154-160 Fleet Street
London
EC4A 2DQ
Page 1
Page 2
Balance Sheet
Registered number: 13008246
2023 2022
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 15,826 18,875
15,826 18,875
CURRENT ASSETS
Debtors 5 264,235 150,174
Cash at bank and in hand 2,435,452 3,986,937
2,699,687 4,137,111
Creditors: Amounts Falling Due Within One Year 6 (256,581 ) (56,695 )
NET CURRENT ASSETS (LIABILITIES) 2,443,106 4,080,416
TOTAL ASSETS LESS CURRENT LIABILITIES 2,458,932 4,099,291
NET ASSETS 2,458,932 4,099,291
CAPITAL AND RESERVES
Called up share capital 7 1 1
Share premium account 5,468,873 5,460,334
Profit and Loss Account (3,009,942 ) (1,361,044 )
SHAREHOLDERS' FUNDS 2,458,932 4,099,291
Page 2
Page 3
For the year ending 30 November 2023 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 N Ratanshi
Director
29/07/2024
The notes on pages 4 to 6 form part of these financial statements.
Page 3
Page 4
Notes to the Financial Statements
1. General Information
Surfboard Technology Limited is a private company, limited by shares, incorporated in England & Wales, registered number 13008246 . The registered office is 13-21 Curtain Road, London, EC2A 3LT.
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 Straight Line 33.33%
Computer Equipment Straight Line 33.33%
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.
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.
Page 4
Page 5
3. Average Number of Employees
Average number of employees, including directors, during the year was: 16 (2022: 12)
16 12
4. Tangible Assets
Plant & Machinery Computer Equipment Total
£ £ £
Cost
As at 1 December 2022 274 26,400 26,674
Additions 2,082 5,623 7,705
As at 30 November 2023 2,356 32,023 34,379
Depreciation
As at 1 December 2022 19 7,780 7,799
Provided during the period 671 10,083 10,754
As at 30 November 2023 690 17,863 18,553
Net Book Value
As at 30 November 2023 1,666 14,160 15,826
As at 1 December 2022 255 18,620 18,875
5. Debtors
2023 2022
£ £
Due within one year
Trade debtors 6,357 725
Other debtors 257,878 149,449
264,235 150,174
6. Creditors: Amounts Falling Due Within One Year
2023 2022
£ £
Trade creditors 17,791 22,896
Bank loans and overdrafts 803 -
Other creditors 191,395 33,799
Taxation and social security 46,592 -
256,581 56,695
7. Share Capital
2023 2022
£ £
Allotted, Called up and fully paid 1 1
Page 5
Page 6
8. Other Commitments
The total of future minimum lease payments under non-cancellable operating leases are as following:
2023 2022
£ £
Not later than one year 108,700 -
Later than one year and not later than five years 152,180 -
260,880 -
Page 6