Acorah Software Products - Accounts Production 15.0.500 false true true 31 October 2022 1 November 2021 false 1 November 2022 31 October 2023 31 October 2023 12976344 Mr Gaurav Gupta Mr Kaustubh Misra iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 12976344 2022-10-31 12976344 2023-10-31 12976344 2022-11-01 2023-10-31 12976344 frs-core:CurrentFinancialInstruments 2023-10-31 12976344 frs-core:CopyrightsPatentsTrademarksServiceOperatingRights 2023-10-31 12976344 frs-core:CopyrightsPatentsTrademarksServiceOperatingRights 2022-11-01 2023-10-31 12976344 frs-core:CopyrightsPatentsTrademarksServiceOperatingRights 2022-10-31 12976344 frs-core:InvestmentPropertyIncludedWithinPPE 2022-11-01 2023-10-31 12976344 frs-core:SharePremium 2023-10-31 12976344 frs-core:ShareCapital 2023-10-31 12976344 frs-core:RetainedEarningsAccumulatedLosses 2023-10-31 12976344 frs-bus:PrivateLimitedCompanyLtd 2022-11-01 2023-10-31 12976344 frs-bus:FilletedAccounts 2022-11-01 2023-10-31 12976344 frs-bus:SmallEntities 2022-11-01 2023-10-31 12976344 frs-bus:AuditExempt-NoAccountantsReport 2022-11-01 2023-10-31 12976344 frs-bus:SmallCompaniesRegimeForAccounts 2022-11-01 2023-10-31 12976344 frs-bus:OrdinaryShareClass1 2022-11-01 2023-10-31 12976344 frs-bus:OrdinaryShareClass1 2023-10-31 12976344 frs-bus:Director1 2022-11-01 2023-10-31 12976344 frs-bus:Director2 2022-11-01 2023-10-31 12976344 frs-countries:EnglandWales 2022-11-01 2023-10-31 12976344 2021-10-31 12976344 2022-10-31 12976344 2021-11-01 2022-10-31 12976344 frs-core:CurrentFinancialInstruments 2022-10-31 12976344 frs-core:SharePremium 2022-10-31 12976344 frs-core:ShareCapital 2022-10-31 12976344 frs-core:RetainedEarningsAccumulatedLosses 2022-10-31 12976344 frs-bus:OrdinaryShareClass1 2021-11-01 2022-10-31
Registered number: 12976344
ABC Consortium Limited
Unaudited Financial Statements
For The Year Ended 31 October 2023
DRP Partners Ltd
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—4
Page 1
Balance Sheet
Registered number: 12976344
2023 2022
Notes £ £ £ £
FIXED ASSETS
Intangible Assets 4 133,151 55,838
133,151 55,838
CURRENT ASSETS
Debtors 5 76,000 40,000
Cash at bank and in hand 5,898 124,512
81,898 164,512
Creditors: Amounts Falling Due Within One Year 6 (31,327 ) (31,299 )
NET CURRENT ASSETS (LIABILITIES) 50,571 133,213
TOTAL ASSETS LESS CURRENT LIABILITIES 183,722 189,051
NET ASSETS 183,722 189,051
CAPITAL AND RESERVES
Called up share capital 7 200 200
Share premium account 199,992 199,992
Profit and Loss Account (16,470 ) (11,141 )
SHAREHOLDERS' FUNDS 183,722 189,051
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For the year ending 31 October 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
Mr Kaustubh Misra
Director
30/07/2024
The notes on pages 3 to 4 form part of these financial statements.
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Notes to the Financial Statements
1. General Information
ABC Consortium Limited is a private company, limited by shares, incorporated in England & Wales, registered number 12976344 . The registered office is 51 Grosvenor Road, Petts Wood, Orpington, BR5 1QT.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements are prepared under the historical cost convention and in accordance with the FRS 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. 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.
2.4. Intangible Fixed Assets and Amortisation - Intellectual Property
Intellectual property assets are software development costs. It is amortised to the profit And Loss Account over its estimated economic life of 5 years. No amortisation is provided in the year of addition.
2.5. Financial Instruments
Basic financial instruments are recognised at amortised cost, except for investments in non-convertible preference and non-puttable ordinary shares which are measured at fair value, with changes recognised in profit or loss.
Derivative financial instruments are initially recorded at cost and thereafter at fair value with changes recognised in profit and loss.
2.6. 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.
2.7. Cash and cash equivalents
Cash and cash equivalents in the statement of financial position comprise cash at banks and in hand, short term deposits with an original maturity date of one month. Cash equivalents are defined as short-term, highly liquid investments that are readily convertible to known amounts of cash and that are subject to an insignificant risk of changes in value.
3. Average Number of Employees
Average number of employees, including directors, during the year was: NIL (2022: NIL)
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4. Intangible Assets
Intellectual Property
£
Cost
As at 1 November 2022 55,838
Additions 77,313
As at 31 October 2023 133,151
Net Book Value
As at 31 October 2023 133,151
As at 1 November 2022 55,838
5. Debtors
2023 2022
£ £
Due within one year
Other debtors 76,000 40,000
6. Creditors: Amounts Falling Due Within One Year
2023 2022
£ £
Amounts owed to participating interests 16,559 15,779
Other creditors 14,768 15,520
31,327 31,299
7. Share Capital
2023 2022
Allotted, called up and fully paid £ £
20,000 Ordinary Shares of £ 0.010 each 200 200
8. Related Party Transactions
Included in other creditors is an amount of £13,269 (2022: £14,199) owed to a director. The amount is interest free and repayable on demand.
Included in other creditors is an amout of £16,559 (2022: £15,779) owed to a connected company with a common director. The amount is interest free and repayable on demand.
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