Acorah Software Products - Accounts Production 15.0.500 false true false 22 August 2022 30 August 2023 30 August 2023 14309122 Gurtej Gill Jasmine Gill iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 14309122 2022-08-21 14309122 2023-08-30 14309122 2022-08-22 2023-08-30 14309122 frs-core:CurrentFinancialInstruments 2023-08-30 14309122 frs-core:RevaluationReserve 2022-08-22 2023-08-30 14309122 frs-core:RevaluationReserve 2023-08-30 14309122 frs-core:ShareCapital 2023-08-30 14309122 frs-core:RetainedEarningsAccumulatedLosses 2023-08-30 14309122 frs-bus:PrivateLimitedCompanyLtd 2022-08-22 2023-08-30 14309122 frs-bus:FilletedAccounts 2022-08-22 2023-08-30 14309122 frs-bus:SmallEntities 2022-08-22 2023-08-30 14309122 frs-bus:AuditExempt-NoAccountantsReport 2022-08-22 2023-08-30 14309122 frs-bus:SmallCompaniesRegimeForAccounts 2022-08-22 2023-08-30 14309122 frs-core:ListedExchangeTraded 2023-08-30 14309122 frs-core:ListedExchangeTraded 2022-08-21 14309122 frs-core:CostValuation frs-core:ListedExchangeTraded 2022-08-21 14309122 frs-core:AdditionsToInvestments frs-core:ListedExchangeTraded 2023-08-30 14309122 frs-core:DisposalsRepaymentsInvestments frs-core:ListedExchangeTraded 2023-08-30 14309122 frs-core:RevaluationsIncreaseDecreaseInInvestments frs-core:ListedExchangeTraded 2023-08-30 14309122 frs-core:CostValuation frs-core:ListedExchangeTraded 2023-08-30 14309122 frs-core:ProvisionsForImpairmentInvestments frs-core:ListedExchangeTraded 2022-08-21 14309122 frs-core:ProvisionsForImpairmentInvestments frs-core:ListedExchangeTraded 2023-08-30 14309122 frs-bus:Director1 2022-08-22 2023-08-30 14309122 frs-bus:Director2 2022-08-22 2023-08-30 14309122 frs-countries:EnglandWales 2022-08-22 2023-08-30
Registered number: 14309122
Sierra Corporation Ltd
Unaudited Financial Statements
For the Period 22 August 2022 to 30 August 2023
Nijjer Accountants Ltd
Chartered Accountants
5-7 Station Road
Longfield
Kent
DA3 7QD
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—4
Page 1
Balance Sheet
Registered number: 14309122
30 August 2023
Notes £ £
FIXED ASSETS
Investments 4 44,397
44,397
CURRENT ASSETS
Debtors 5 100
Cash at bank and in hand 115,063
115,163
Creditors: Amounts Falling Due Within One Year 6 (153,400 )
NET CURRENT ASSETS (LIABILITIES) (38,237 )
TOTAL ASSETS LESS CURRENT LIABILITIES 6,160
PROVISIONS FOR LIABILITIES
Deferred Taxation (835 )
NET ASSETS 5,325
CAPITAL AND RESERVES
Called up share capital 7 100
Revaluation reserve 8 3,562
Profit and Loss Account 1,663
SHAREHOLDERS' FUNDS 5,325
Page 1
Page 2
For the period ending 30 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
Gurtej Gill
Director
9 August 2024
The notes on pages 3 to 4 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Sierra Corporation Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 14309122 . The registered office is 5-7 Station Road, Longfield, DA3 7QD.
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 from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. 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
2.3. 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.
2.4. Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
2.5. Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
3. Average Number of Employees
Average number of employees, including directors, during the period was: NIL
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Page 3
Page 4
4. Investments
Listed
£
Cost
As at 22 August 2022 -
Additions 140,000
Disposals (100,000 )
Revaluations 4,397
As at 30 August 2023 44,397
Provision
As at 22 August 2022 -
As at 30 August 2023 -
Net Book Value
As at 30 August 2023 44,397
As at 22 August 2022 -
5. Debtors
30 August 2023
£
Due within one year
Other debtors 100
6. Creditors: Amounts Falling Due Within One Year
30 August 2023
£
Other creditors 153,010
Taxation and social security 390
153,400
7. Share Capital
30 August 2023
£
Allotted, Called up and fully paid 100
8. Reserves
Revaluation Reserve
£
Surplus on revaluation 3,562
As at 30 August 2023 3,562
Page 4