Acorah Software Products - Accounts Production 15.0.400 false true true 30 April 2022 1 May 2021 false 1 May 2022 31 July 2023 31 July 2023 04744841 Mr Nisheet Patel Mr Dharmeshkumar Amin Mr Asim Saleem iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 04744841 2022-04-30 04744841 2023-07-31 04744841 2022-05-01 2023-07-31 04744841 frs-core:Non-currentFinancialInstruments 2023-07-31 04744841 frs-core:ComputerEquipment 2022-05-01 2023-07-31 04744841 frs-core:ShareCapital 2023-07-31 04744841 frs-core:RetainedEarningsAccumulatedLosses 2023-07-31 04744841 frs-bus:PrivateLimitedCompanyLtd 2022-05-01 2023-07-31 04744841 frs-bus:AbridgedAccounts 2022-05-01 2023-07-31 04744841 frs-bus:SmallEntities 2022-05-01 2023-07-31 04744841 frs-bus:AuditExempt-NoAccountantsReport 2022-05-01 2023-07-31 04744841 frs-bus:SmallCompaniesRegimeForAccounts 2022-05-01 2023-07-31 04744841 frs-bus:Director1 2022-05-01 2023-07-31 04744841 frs-bus:Director2 2022-05-01 2023-07-31 04744841 frs-bus:Director3 2022-05-01 2023-07-31 04744841 frs-countries:EnglandWales 2022-05-01 2023-07-31 04744841 2021-04-30 04744841 2022-04-30 04744841 2021-05-01 2022-04-30 04744841 frs-core:Non-currentFinancialInstruments 2022-04-30 04744841 frs-core:ShareCapital 2022-04-30 04744841 frs-core:RetainedEarningsAccumulatedLosses 2022-04-30
Registered number: 04744841
Affinity Smart Limited
Unaudited ABRIDGED Financial Statements
For the Period 1 May 2022 to 31 July 2023
Unaudited Financial Statements
Contents
Page
Abridged Balance Sheet 1—2
Notes to the Abridged Financial Statements 3—4
Page 1
Abridged Balance Sheet
Registered number: 04744841
31 July 2023 30 April 2022
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 115,884 121,431
115,884 121,431
CURRENT ASSETS
Debtors 234,542 148,301
Cash at bank and in hand 53,283 49,388
287,825 197,689
Creditors: Amounts Falling Due Within One Year (48,824 ) (44,616 )
NET CURRENT ASSETS (LIABILITIES) 239,001 153,073
TOTAL ASSETS LESS CURRENT LIABILITIES 354,885 274,504
Creditors: Amounts Falling Due After More Than One Year (299,601 ) (232,101 )
PROVISIONS FOR LIABILITIES
Deferred Taxation (19,168 ) (19,341 )
NET ASSETS 36,116 23,062
CAPITAL AND RESERVES
Called up share capital 5 300 300
Profit and Loss Account 35,816 22,762
SHAREHOLDERS' FUNDS 36,116 23,062
Page 1
Page 2
For the period ending 31 July 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.
All of the company's members have consented to the preparation of an Abridged Balance Sheet for the year end 31 July 2023 in accordance with section 444(2A) of the Companies Act 2006.
On behalf of the board
Mr Nisheet Patel
Director
20/04/2024
The notes on pages 3 to 4 form part of these financial statements.
Page 2
Page 3
Notes to the Abridged Financial Statements
1. General Information
Affinity Smart Limited is a private company, limited by shares, incorporated in England & Wales, registered number 04744841 . 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 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. Significant judgements and estimations
In the application of the company’s accounting policies, the director is required to make judgements, estimates and
assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The
estimates and associated assumptions are based on historical experience and other factors that are considered to be
relevant. Actual results may differ from these estimates.
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are
recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of
the revision and future periods where the revision affects both current and future periods.
2.4. 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.
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:
Computer Equipment 15% at WDV
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the
carrying value of the asset, and is credited or charged to profit or loss.
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. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
2.7. Financial Instruments
The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other
Financial Instruments Issues’ of FRS 102 to all of its financial instruments.
Financial instruments are recognised in the company's balance sheet when the company becomes party to the
contractual provisions of the instrument.
Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a
legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to
realise the asset and settle the liability simultaneously.
Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price
including transaction costs and are subsequently carried at amortised cost using the effective interest method unless
the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the
future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not
amortised.
Classification of financial liabilities
...CONTINUED
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2.7. Financial Instruments - continued
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements
entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after
deducting all of its liabilities.
Basic financial liabilities
Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that
are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing
transaction, where the debt instrument is measured at the present value of the future payments discounted at a
market rate of interest. Financial liabilities classified as payable within one year are not amortised.
Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business
from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not,
they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and
subsequently measured at amortised cost using the effective interest method.
3. Average Number of Employees
Average number of employees, including directors, during the period was: 2 (2022: 3)
2 3
4. Tangible Assets
Total
£
Cost
As at 1 May 2022 248,398
Additions 17,539
As at 31 July 2023 265,937
Depreciation
As at 1 May 2022 126,967
Provided during the period 23,086
As at 31 July 2023 150,053
Net Book Value
As at 31 July 2023 115,884
As at 1 May 2022 121,431
Included above are assets held under finance leases or hire purchase contracts with a net book value as follows:
5. Share Capital
31 July 2023 30 April 2022
£ £
Allotted, Called up and fully paid 300 300
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