Acorah Software Products - Accounts Production 15.0.600 false true 30 November 2022 1 December 2021 false 1 December 2022 30 November 2023 30 November 2023 05845293 Mr Sunil Sharma Mr Duncan Francis iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 05845293 2022-11-30 05845293 2023-11-30 05845293 2022-12-01 2023-11-30 05845293 frs-core:PlantMachinery 2022-12-01 2023-11-30 05845293 frs-core:CapitalRedemptionReserve 2023-11-30 05845293 frs-core:SharePremium 2023-11-30 05845293 frs-core:ShareCapital 2023-11-30 05845293 frs-core:RetainedEarningsAccumulatedLosses 2023-11-30 05845293 frs-bus:PrivateLimitedCompanyLtd 2022-12-01 2023-11-30 05845293 frs-bus:AbridgedAccounts 2022-12-01 2023-11-30 05845293 frs-bus:SmallEntities 2022-12-01 2023-11-30 05845293 frs-bus:AuditExempt-NoAccountantsReport 2022-12-01 2023-11-30 05845293 frs-bus:SmallCompaniesRegimeForAccounts 2022-12-01 2023-11-30 05845293 frs-bus:Director1 2022-12-01 2023-11-30 05845293 frs-bus:Director2 2022-12-01 2023-11-30 05845293 frs-countries:EnglandWales 2022-12-01 2023-11-30 05845293 2021-11-30 05845293 2022-11-30 05845293 2021-12-01 2022-11-30 05845293 frs-core:CapitalRedemptionReserve 2022-11-30 05845293 frs-core:SharePremium 2022-11-30 05845293 frs-core:ShareCapital 2022-11-30 05845293 frs-core:RetainedEarningsAccumulatedLosses 2022-11-30
Registered number: 05845293
TI (Technology Innovators) Limited
ABRIDGED Financial Statements
For The Year Ended 30 November 2023
Contents
Page
Abridged Balance Sheet 1—2
Notes to the Abridged Financial Statements 3—4
Page 1
Abridged Balance Sheet
Registered number: 05845293
2023 2022
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 6,080 4,763
6,080 4,763
CURRENT ASSETS
Stocks 13,946 16,218
Debtors 197,823 387,906
Cash at bank and in hand 173,040 117,580
384,809 521,704
Creditors: Amounts Falling Due Within One Year (124,406 ) (263,369 )
NET CURRENT ASSETS (LIABILITIES) 260,403 258,335
TOTAL ASSETS LESS CURRENT LIABILITIES 266,483 263,098
NET ASSETS 266,483 263,098
CAPITAL AND RESERVES
Called up share capital 5 198 198
Share premium account 50,445 50,445
Capital redemption reserve 113 113
Profit and Loss Account 215,727 212,342
SHAREHOLDERS' FUNDS 266,483 263,098
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For the year ending 30 November 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 Profit and Loss Account and an Abridged Balance Sheet for the year end 30 November 2023 in accordance with section 444(2A) of the Companies Act 2006.
On behalf of the board
Mr Sunil Sharma
Director
05/08/2024
The notes on pages 3 to 4 form part of these financial statements.
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Notes to the Abridged Financial Statements
1. Accounting Policies
1.1. 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.
1.2. 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.
1.3. 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 33% on cost
1.4. 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.
1.5. Taxation
Income tax expense represents the sum of the tax currently payable.
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.
2. Average Number of Employees
Average number of employees, including directors, during the year was: 4 (2022: 4)
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3. Intangible Assets
Total
£
Cost
As at 1 December 2022 20,000
As at 30 November 2023 20,000
Amortisation
As at 1 December 2022 20,000
As at 30 November 2023 20,000
Net Book Value
As at 30 November 2023 -
As at 1 December 2022 -
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4. Tangible Assets
Total
£
Cost
As at 1 December 2022 7,145
Additions 5,549
As at 30 November 2023 12,694
Depreciation
As at 1 December 2022 2,382
Provided during the period 4,232
As at 30 November 2023 6,614
Net Book Value
As at 30 November 2023 6,080
As at 1 December 2022 4,763
5. Share Capital
2023 2022
£ £
Allotted, Called up and fully paid 198 198
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