Acorah Software Products - Accounts Production 15.0.600 false true 31 December 2022 1 January 2022 false 1 January 2023 31 December 2023 31 December 2023 06468094 Ms Nadia-Sadaf Malik Ms Della Malik Ms Nadia-Sadaf Malik true iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 06468094 2022-12-31 06468094 2023-12-31 06468094 2023-01-01 2023-12-31 06468094 frs-core:CurrentFinancialInstruments 2023-12-31 06468094 frs-core:ComputerEquipment 2023-12-31 06468094 frs-core:ComputerEquipment 2023-01-01 2023-12-31 06468094 frs-core:ComputerEquipment 2022-12-31 06468094 frs-core:FurnitureFittings 2023-12-31 06468094 frs-core:FurnitureFittings 2023-01-01 2023-12-31 06468094 frs-core:FurnitureFittings 2022-12-31 06468094 frs-core:ShareCapital 2023-12-31 06468094 frs-core:RetainedEarningsAccumulatedLosses 2023-12-31 06468094 frs-bus:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 06468094 frs-bus:FilletedAccounts 2023-01-01 2023-12-31 06468094 frs-bus:SmallEntities 2023-01-01 2023-12-31 06468094 frs-bus:AuditExempt-NoAccountantsReport 2023-01-01 2023-12-31 06468094 frs-bus:SmallCompaniesRegimeForAccounts 2023-01-01 2023-12-31 06468094 1 2023-01-01 2023-12-31 06468094 frs-bus:Director1 2023-01-01 2023-12-31 06468094 frs-bus:Director1 2022-12-31 06468094 frs-bus:Director1 2023-12-31 06468094 frs-bus:CompanySecretary1 2023-01-01 2023-12-31 06468094 frs-countries:EnglandWales 2023-01-01 2023-12-31 06468094 2021-12-31 06468094 2022-12-31 06468094 2022-01-01 2022-12-31 06468094 frs-core:CurrentFinancialInstruments 2022-12-31 06468094 frs-core:ShareCapital 2022-12-31 06468094 frs-core:RetainedEarningsAccumulatedLosses 2022-12-31
Registered number: 06468094
Fika Limited
Unaudited Financial Statements
For The Year Ended 31 December 2023
ChadSan Limited
Castle House
Castle Street
Guildford
GU1 3UW
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 06468094
2023 2022
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 1,755 115
1,755 115
CURRENT ASSETS
Debtors 5 15,927 28,419
Cash at bank and in hand 34,193 35,341
50,120 63,760
Creditors: Amounts Falling Due Within One Year 6 (17,586 ) (20,392 )
NET CURRENT ASSETS (LIABILITIES) 32,534 43,368
TOTAL ASSETS LESS CURRENT LIABILITIES 34,289 43,483
PROVISIONS FOR LIABILITIES
Deferred Taxation (439 ) -
NET ASSETS 33,850 43,483
CAPITAL AND RESERVES
Called up share capital 7 1,000 1,000
Profit and Loss Account 32,850 42,483
SHAREHOLDERS' FUNDS 33,850 43,483
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For the year ending 31 December 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges her 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 Nadia-Sadaf Malik
Director
8th August 2024
The notes on pages 3 to 5 form part of these financial statements.
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Notes to the Financial Statements
1. General Information
Fika Limited is a private company, limited by shares, incorporated in England & Wales, registered number 06468094 . The registered office is Castle House, Castle Street, Guildford, GU1 3UW.
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.
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:
Fixtures & Fittings 20% on cost
Computer Equipment 20% on cost
2.4. 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.
...CONTINUED
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2.4. Taxation - continued
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: 1 (2022: 1)
1 1
4. Tangible Assets
Fixtures & Fittings Computer Equipment Total
£ £ £
Cost
As at 1 January 2023 - 685 685
Additions 352 1,625 1,977
As at 31 December 2023 352 2,310 2,662
Depreciation
As at 1 January 2023 - 570 570
Provided during the period 35 302 337
As at 31 December 2023 35 872 907
Net Book Value
As at 31 December 2023 317 1,438 1,755
As at 1 January 2023 - 115 115
5. Debtors
2023 2022
£ £
Due within one year
Trade debtors 3,229 4,637
Other debtors 12,698 23,782
15,927 28,419
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6. Creditors: Amounts Falling Due Within One Year
2023 2022
£ £
Trade creditors - 175
Other creditors 6,997 9,000
Taxation and social security 10,589 11,217
17,586 20,392
7. Share Capital
2023 2022
£ £
Allotted, Called up and fully paid 1,000 1,000
8. Directors Advances, Credits and Guarantees
Included within Debtors are the following loans to directors:
As at 1 January 2023 Amounts advanced Amounts repaid Amounts written off As at 31 December 2023
£ £ £ £ £
Ms Nadia-Sadaf Malik 10,304 55,453 (54,842 ) - 10,914
The above loan is unsecured, interest free and repayable on demand.
9. Ultimate Controlling Party
The company's ultimate controlling party is Ms Nadia-Sadaf Malik by virtue of her ownership of 100% of the issued share capital in the company.
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