Acorah Software Products - Accounts Production 15.0.600 false true true 24 August 2022 30 August 2021 false 25 August 2022 31 August 2023 31 August 2023 05205432 Mr M Ibrahim Dr I Ibrahim Mr M Ibrahim Mr M Ibrahim true iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 05205432 2022-08-24 05205432 2023-08-31 05205432 2022-08-25 2023-08-31 05205432 frs-core:CurrentFinancialInstruments 2023-08-31 05205432 frs-core:Non-currentFinancialInstruments 2023-08-31 05205432 frs-core:ComputerEquipment 2023-08-31 05205432 frs-core:ComputerEquipment 2022-08-25 2023-08-31 05205432 frs-core:ComputerEquipment 2022-08-24 05205432 frs-core:FurnitureFittings 2023-08-31 05205432 frs-core:FurnitureFittings 2022-08-25 2023-08-31 05205432 frs-core:FurnitureFittings 2022-08-24 05205432 frs-core:LandBuildings frs-core:OwnedOrFreeholdAssets 2023-08-31 05205432 frs-core:LandBuildings frs-core:OwnedOrFreeholdAssets 2022-08-25 2023-08-31 05205432 frs-core:LandBuildings frs-core:OwnedOrFreeholdAssets 2022-08-24 05205432 frs-core:MotorVehicles 2023-08-31 05205432 frs-core:MotorVehicles 2022-08-25 2023-08-31 05205432 frs-core:MotorVehicles 2022-08-24 05205432 frs-core:ShareCapital 2023-08-31 05205432 frs-core:RetainedEarningsAccumulatedLosses 2023-08-31 05205432 frs-bus:PrivateLimitedCompanyLtd 2022-08-25 2023-08-31 05205432 frs-bus:FilletedAccounts 2022-08-25 2023-08-31 05205432 frs-bus:SmallEntities 2022-08-25 2023-08-31 05205432 frs-bus:AuditExempt-NoAccountantsReport 2022-08-25 2023-08-31 05205432 frs-bus:SmallCompaniesRegimeForAccounts 2022-08-25 2023-08-31 05205432 1 2022-08-25 2023-08-31 05205432 frs-core:DeferredTaxation 2022-08-25 2023-08-31 05205432 frs-core:DeferredTaxation 2022-08-24 05205432 frs-core:DeferredTaxation 2023-08-31 05205432 frs-bus:Director1 2022-08-25 2023-08-31 05205432 frs-bus:Director2 2022-08-25 2023-08-31 05205432 frs-bus:CompanySecretary1 2022-08-25 2023-08-31 05205432 frs-core:CurrentFinancialInstruments 1 2023-08-31 05205432 frs-core:CurrentFinancialInstruments 3 2023-08-31 05205432 frs-countries:EnglandWales 2022-08-25 2023-08-31 05205432 2021-08-29 05205432 2022-08-24 05205432 2021-08-30 2022-08-24 05205432 frs-core:CurrentFinancialInstruments 2022-08-24 05205432 frs-core:Non-currentFinancialInstruments 2022-08-24 05205432 frs-core:ShareCapital 2022-08-24 05205432 frs-core:RetainedEarningsAccumulatedLosses 2022-08-24 05205432 frs-core:CurrentFinancialInstruments 1 2022-08-24 05205432 frs-core:CurrentFinancialInstruments 3 2022-08-24
Registered number: 05205432
Archangel Enterprises Limited
Unaudited Financial Statements
For The Year Ended 31 August 2023
Richards Associates Limited
North Lodge
Hawkesyard
Rugeley
Staffordshire
WS15 1PS
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—6
Page 1
Balance Sheet
Registered number: 05205432
2023 2022
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 37,083 12,005
37,083 12,005
CURRENT ASSETS
Debtors 5 932,016 644,282
Cash at bank and in hand 805,624 948,994
1,737,640 1,593,276
Creditors: Amounts Falling Due Within One Year 6 (1,004,521 ) (871,622 )
NET CURRENT ASSETS (LIABILITIES) 733,119 721,654
TOTAL ASSETS LESS CURRENT LIABILITIES 770,202 733,659
Creditors: Amounts Falling Due After More Than One Year 7 (17,750 ) (27,500 )
PROVISIONS FOR LIABILITIES
Deferred Taxation (7,781 ) (454 )
NET ASSETS 744,671 705,705
CAPITAL AND RESERVES
Called up share capital 9 2 2
Profit and Loss Account 744,669 705,703
SHAREHOLDERS' FUNDS 744,671 705,705
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Page 2
For the year ending 31 August 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 M Ibrahim
Director
10 July 2024
The notes on pages 3 to 6 form part of these financial statements.
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Notes to the Financial Statements
1. General Information
Archangel Enterprises Limited is a private company, limited by shares, incorporated in England & Wales, registered number 05205432 . The registered office is The Oracle, Wolseley Bridge, Colwich Stafford, Staffordshire, ST17 0XJ.
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
At the time of approving the financial statements the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future.
The directors continue to adopt the going concern basis of accounting in preparing financial statements.
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.
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. 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:
Improvements 10% on cost
Motor Vehicles 25% reducing balance
Fixtures & Fittings 25% reducing balance
Computer Equipment 33% reducing balance
2.5. Financial Instruments
The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other
third parties, and loans to related parties.
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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.
2.7. Government Grant
Government grants are recognised in the profit and loss account in an appropriate manner that matches them with the expenditure towards which they are intended to contribute.
Grants for immediate financial support or to cover costs already incurred are recognised immediately in the profit and loss account. Grants towards general activities of the entity over a specific period are recognised in the profit and loss account over that period.
Grants towards fixed assets are recognised over the expected useful lives of the related assets and are treated as deferred income and released to the profit and loss account over the useful life of the asset concerned.
All grants in the profit and loss account are recognised when all conditions for receipt have been complied with.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 160 (2022: 182)
160 182
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4. Tangible Assets
Land & Property
Improvements Motor Vehicles Fixtures & Fittings Computer Equipment Total
£ £ £ £ £
Cost
As at 25 August 2022 175,210 1,490 78,813 13,395 268,908
Additions 14,250 - 14,972 2,365 31,587
As at 31 August 2023 189,460 1,490 93,785 15,760 300,495
Depreciation
As at 25 August 2022 174,733 926 71,648 9,596 256,903
Provided during the period 1,189 141 3,287 1,892 6,509
As at 31 August 2023 175,922 1,067 74,935 11,488 263,412
Net Book Value
As at 31 August 2023 13,538 423 18,850 4,272 37,083
As at 25 August 2022 477 564 7,165 3,799 12,005
5. Debtors
2023 2022
£ £
Due within one year
Trade debtors 117,978 71,538
Prepayments and accrued income 172 -
Other debtors 32,865 32,900
Factored debts outstanding 781,001 539,844
932,016 644,282
6. Creditors: Amounts Falling Due Within One Year
2023 2022
£ £
Trade creditors 8,993 -
Bank loans and overdrafts 25,004 19,129
Corporation tax 128,675 109,802
Other taxes and social security 91,788 79,849
Net wages 30,267 -
Other creditors 618,050 463,972
Pension creditor 11,079 27,826
...CONTINUED
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Other payroll creditors 429 11,005
Accruals and deferred income 3,499 7,106
Directors' loan accounts 86,737 152,933
1,004,521 871,622
7. Creditors: Amounts Falling Due After More Than One Year
2023 2022
£ £
Bank loans 17,750 27,500
8. Provisions for Liabilities
Deferred Tax Total
£ £
As at 25 August 2022 454 454
Additions 7,327 7,327
Balance at 31 August 2023 7,781 7,781
9. Share Capital
2023 2022
£ £
Allotted, Called up and fully paid 2 2
10. Related Party Transactions
Budget Safe Limited
A company in which Mr Ibrahim is also a director.
At the balance sheet date there is a balance receivable from the above named company of £32,865 (2022 : £32,900). This loan is interest free and repayable upon demand. 
During the year the company received rent from Budget Safe Limited of £13,674.
11. Ultimate Controlling Party
The company's ultimate controlling party is Mr M Ibrahim by virtue of his ownership of 100% of the issued share capital in the company.
12. Secured Debts
There are fixed and floating charges over the assets of the company.
14. Related party transactions
During the year the company paid rent to the director of £49,290.
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