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 06933688 Mr Ravi Konidena Mr Kishor Dixit Mr Dharamendra Madhok iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 06933688 2022-12-31 06933688 2023-12-31 06933688 2023-01-01 2023-12-31 06933688 frs-core:CurrentFinancialInstruments 2023-12-31 06933688 frs-core:Non-currentFinancialInstruments 2023-12-31 06933688 frs-core:BetweenOneFiveYears 2023-12-31 06933688 frs-core:FurnitureFittings 2023-12-31 06933688 frs-core:FurnitureFittings 2023-01-01 2023-12-31 06933688 frs-core:FurnitureFittings 2022-12-31 06933688 frs-core:MotorVehicles 2023-12-31 06933688 frs-core:MotorVehicles 2023-01-01 2023-12-31 06933688 frs-core:MotorVehicles 2022-12-31 06933688 frs-core:PlantMachinery 2023-12-31 06933688 frs-core:PlantMachinery 2023-01-01 2023-12-31 06933688 frs-core:PlantMachinery 2022-12-31 06933688 frs-core:WithinOneYear 2023-12-31 06933688 frs-core:ShareCapital 2023-12-31 06933688 frs-core:RetainedEarningsAccumulatedLosses 2023-12-31 06933688 frs-bus:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 06933688 frs-bus:FilletedAccounts 2023-01-01 2023-12-31 06933688 frs-bus:SmallEntities 2023-01-01 2023-12-31 06933688 frs-bus:AuditExempt-NoAccountantsReport 2023-01-01 2023-12-31 06933688 frs-bus:SmallCompaniesRegimeForAccounts 2023-01-01 2023-12-31 06933688 frs-core:CostValuation 2022-12-31 06933688 frs-core:CostValuation 2023-12-31 06933688 frs-core:ProvisionsForImpairmentInvestments 2022-12-31 06933688 frs-core:ProvisionsForImpairmentInvestments 2023-12-31 06933688 frs-bus:Director1 2023-01-01 2023-12-31 06933688 frs-bus:Director2 2023-01-01 2023-12-31 06933688 frs-bus:CompanySecretary1 2023-01-01 2023-12-31 06933688 frs-core:CurrentFinancialInstruments 1 2023-12-31 06933688 frs-countries:EnglandWales 2023-01-01 2023-12-31 06933688 2021-12-31 06933688 2022-12-31 06933688 2022-01-01 2022-12-31 06933688 frs-core:CurrentFinancialInstruments 2022-12-31 06933688 frs-core:Non-currentFinancialInstruments 2022-12-31 06933688 frs-core:BetweenOneFiveYears 2022-12-31 06933688 frs-core:WithinOneYear 2022-12-31 06933688 frs-core:ShareCapital 2022-12-31 06933688 frs-core:RetainedEarningsAccumulatedLosses 2022-12-31 06933688 frs-core:CurrentFinancialInstruments 1 2022-12-31
Registered number: 06933688
SPA Enterprise Services Limited
Unaudited Financial Statements
For The Year Ended 31 December 2023
635 Bath Road
Slough
Berkshire
SL1 6AE
Unaudited Financial Statements
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—7
Page 1
Balance Sheet
Registered number: 06933688
2023 2022
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 149,226 68,846
Investments 5 5,544 5,544
154,770 74,390
CURRENT ASSETS
Debtors 6 1,848,296 1,450,292
Investments 7 100,000 100,000
Cash at bank and in hand 40,868 25,719
1,989,164 1,576,011
Creditors: Amounts Falling Due Within One Year 8 (1,227,969 ) (969,265 )
NET CURRENT ASSETS (LIABILITIES) 761,195 606,746
TOTAL ASSETS LESS CURRENT LIABILITIES 915,965 681,136
Creditors: Amounts Falling Due After More Than One Year 9 (219,435 ) (158,524 )
PROVISIONS FOR LIABILITIES
Deferred Taxation (3,902 ) (13,081 )
NET ASSETS 692,628 509,531
CAPITAL AND RESERVES
Called up share capital 11 50,001 50,001
Profit and Loss Account 642,627 459,530
SHAREHOLDERS' FUNDS 692,628 509,531
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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 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 Ravi Konidena
Director
19th August 2024
The notes on pages 3 to 7 form part of these financial statements.
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Notes to the Financial Statements
1. General Information
SPA Enterprise Services Limited is a private company, limited by shares, incorporated in England & Wales, registered number 06933688 . The registered office is 6-9 The Square Stockley Park, Heathrow, UXBRIDGE, UB11 1FW.
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 3 years straight line
Motor Vehicles 20% Reducing Balance
Fixtures & Fittings 3 years straight line
2.4. Leasing and Hire Purchase Contracts
Assets obtained under finance leases are capitalised as tangible fixed assets. Assets acquired under finance leases are depreciated over the shorter of the lease term and their useful lives. Assets acquired under hire purchase contracts are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in the creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.

Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to profit and loss account as incurred.
2.5. 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.
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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 year 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 asset reflects 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: 20 (2022: 18)
20 18
4. Tangible Assets
Plant & Machinery Motor Vehicles Fixtures & Fittings Total
£ £ £ £
Cost
As at 1 January 2023 37,452 73,618 25,204 136,274
Additions 6,979 168,568 - 175,547
Disposals - (73,618 ) - (73,618 )
As at 31 December 2023 44,431 168,568 25,204 238,203
Depreciation
As at 1 January 2023 18,722 29,447 19,259 67,428
Provided during the period 14,309 33,714 2,973 50,996
Disposals - (29,447 ) - (29,447 )
As at 31 December 2023 33,031 33,714 22,232 88,977
Net Book Value
As at 31 December 2023 11,400 134,854 2,972 149,226
As at 1 January 2023 18,730 44,171 5,945 68,846
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5. Investments
Subsidiaries
£
Cost
As at 1 January 2023 5,544
As at 31 December 2023 5,544
Provision
As at 1 January 2023 -
As at 31 December 2023 -
Net Book Value
As at 31 December 2023 5,544
As at 1 January 2023 5,544
Subsidiaries
Details of the company's subsidiaries at 31 December 2023 are as follows:
COMPANY NUMBER 1
Nature of undertaking --- SPA Enterprise info Services (india) Private Ltd
Registered Office --- India
Natureof Business Class --- Advisory Services
Class of Shares held --- Ordinary
% held Direct/Indirect --- 100
The aggregate capital and reserves and the result for the year of the subsidiaries noted above was as
follows:
Profit /(Loss) --- £98,739
Capital and Reserves --- £761,265
COMPANY NUMBER 2
Nature of undertaking --- SPA Enterprise Services Inc
Registered Office --- USA
Natureof Business Class ---IT Consultancy and Advisory Services
Class of Shares held --- Ordinary
% held Direct/Indirect --- 100
The aggregate capital and reserves and the result for the year of the subsidiaries noted above was as
follows:
Profit /(Loss) --- £ 17,398
Capital and Reserves --- £125,659
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6. Debtors
2023 2022
£ £
Due within one year
Trade debtors 1,660,805 1,289,472
Prepayments and accrued income - 2,480
Other debtors 109,500 150,000
Corporation tax recoverable assets 75,057 8,340
Directors' loan accounts 2,934 -
1,848,296 1,450,292
7. Current Asset Investments
2023 2022
£ £
Unlisted investments 100,000 100,000
100,000 100,000
8. Creditors: Amounts Falling Due Within One Year
2023 2022
£ £
Net obligations under finance lease and hire purchase contracts 17,987 11,272
Trade creditors 565,225 673,616
Bank loans and overdrafts 375,874 68,285
Corporation tax 47,626 37,232
Other taxes and social security 29,437 19,975
VAT 87,859 64,981
Other creditors 222 222
Other creditors (1) 2,013 -
Accruals and deferred income 101,726 72,747
Directors' loan accounts - 935
Amounts owed to related parties - 20,000
1,227,969 969,265
9. Creditors: Amounts Falling Due After More Than One Year
2023 2022
£ £
Net obligations under finance lease and hire purchase contracts 79,429 37,691
Bank loans 140,006 120,833
219,435 158,524
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10. Obligations Under Finance Leases and Hire Purchase
2023 2022
£ £
The future minimum finance lease payments are as follows:
Not later than one year 17,987 11,272
Later than one year and not later than five years 79,429 37,691
97,416 48,963
97,416 48,963
11. Share Capital
2023 2022
£ £
Allotted, Called up and fully paid 50,001 50,001
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