Acorah Software Products - Accounts Production 14.6.300 false true 31 March 2023 1 April 2022 false 1 April 2023 31 March 2024 31 March 2024 11272953 Wayne Chang iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 11272953 2023-03-31 11272953 2024-03-31 11272953 2023-04-01 2024-03-31 11272953 frs-core:CurrentFinancialInstruments 2024-03-31 11272953 frs-core:ComputerEquipment 2024-03-31 11272953 frs-core:ComputerEquipment 2023-04-01 2024-03-31 11272953 frs-core:ComputerEquipment 2023-03-31 11272953 frs-core:FurnitureFittings 2024-03-31 11272953 frs-core:FurnitureFittings 2023-04-01 2024-03-31 11272953 frs-core:FurnitureFittings 2023-03-31 11272953 frs-core:ShareCapital 2024-03-31 11272953 frs-core:RetainedEarningsAccumulatedLosses 2024-03-31 11272953 frs-bus:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 11272953 frs-bus:FilletedAccounts 2023-04-01 2024-03-31 11272953 frs-bus:SmallEntities 2023-04-01 2024-03-31 11272953 frs-bus:AuditExempt-NoAccountantsReport 2023-04-01 2024-03-31 11272953 frs-bus:SmallCompaniesRegimeForAccounts 2023-04-01 2024-03-31 11272953 frs-bus:Director1 2023-04-01 2024-03-31 11272953 frs-countries:EnglandWales 2023-04-01 2024-03-31 11272953 2022-03-31 11272953 2023-03-31 11272953 2022-04-01 2023-03-31 11272953 frs-core:CurrentFinancialInstruments 2023-03-31 11272953 frs-core:ShareCapital 2023-03-31 11272953 frs-core:RetainedEarningsAccumulatedLosses 2023-03-31
Registered number: 11272953
Wacits Limited
Unaudited Financial Statements
For The Year Ended 31 March 2024
Contents
Page
Company Information 1
Balance Sheet 2—3
Notes to the Financial Statements 4—5
Page 1
Company Information
Director Wayne Chang
Company Number 11272953
Registered Office First Floor, New Barnes Mill
Cottonmill Lane
St Albans
AL1 2HA
Accountants Town & Forest
Chartered Accountants & Statutory Auditors
First Floor, New Barnes Mill
Cottonmill Lane
St Albans
AL1 2HA
Page 1
Page 2
Balance Sheet
Registered number: 11272953
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 2,672 4,246
2,672 4,246
CURRENT ASSETS
Debtors 5 9,385 28,105
Cash at bank and in hand 114,320 88,318
123,705 116,423
Creditors: Amounts Falling Due Within One Year 6 (22,828 ) (22,251 )
NET CURRENT ASSETS (LIABILITIES) 100,877 94,172
TOTAL ASSETS LESS CURRENT LIABILITIES 103,549 98,418
NET ASSETS 103,549 98,418
CAPITAL AND RESERVES
Called up share capital 125 125
Profit and Loss Account 103,424 98,293
SHAREHOLDERS' FUNDS 103,549 98,418
Page 2
Page 3
For the year ending 31 March 2024 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 his 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
Wayne Chang
Director
23 August 2024
The notes on pages 4 to 5 form part of these financial statements.
Page 3
Page 4
Notes to the Financial Statements
1. General Information
Wacits Limited is a private company, limited by shares, incorporated in England & Wales, registered number 11272953 . The registered office is First Floor, New Barnes Mill, Cottonmill Lane, St Albans, AL1 2HA.

2. Accounting Policies
2.1. 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.

The presentation currency of the financial statements is the Pound Sterling (£).

The significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated.
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 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 25% on reducing balance
Computer Equipment 33.33% on reducing balance
2.4. Taxation
Taxation expense represents the sum of the tax currently payable and deferred tax.
Taxation for the year comprises current and deferred tax. Tax is recognised in the income statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax is recognised in respect of all timing difference that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in the tax assessments in periods different from those in which they are recognised in the financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probably that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

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.
2.5. Trade debtors
Trade debtors are carried at original net invoice amount less an estimate for doubtful debtors. Bad debts are written off when identified. Specific provisions are made against debts whose recovery is considered doubtful.
2.6. Provisions and accruals
Provisions are recognised when there is a present legal or constructive obligation as a result of past events and the amount can be reliably estimated. Provisions are not recognised for future operating losses.
Page 4
Page 5
3. Average Number of Employees
Average number of employees, including directors, during the year was: 1 (2023: 1)
1 1
4. Tangible Assets
Fixtures & Fittings Computer Equipment Total
£ £ £
Cost
As at 1 April 2023 254 8,711 8,965
Disposals - (1,401 ) (1,401 )
As at 31 March 2024 254 7,310 7,564
Depreciation
As at 1 April 2023 58 4,661 4,719
Provided during the period 49 1,263 1,312
Disposals - (1,139 ) (1,139 )
As at 31 March 2024 107 4,785 4,892
Net Book Value
As at 31 March 2024 147 2,525 2,672
As at 1 April 2023 196 4,050 4,246
5. Debtors
2024 2023
£ £
Due within one year
Trade debtors 9,360 28,080
Amounts owed by other participating interests 25 25
9,385 28,105
6. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Corporation tax 17,075 16,471
VAT 4,417 4,551
Accruals and deferred income 1,216 1,205
Director's loan account 120 24
22,828 22,251
Page 5