Acorah Software Products - Accounts Production 14.5.601 false true 31 December 2022 1 January 2022 false 1 January 2023 31 December 2023 31 December 2023 08328098 Mr Raju Bhasin iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 08328098 2022-12-31 08328098 2023-12-31 08328098 2023-01-01 2023-12-31 08328098 frs-core:Non-currentFinancialInstruments 2023-12-31 08328098 frs-core:ComputerEquipment 2023-12-31 08328098 frs-core:ComputerEquipment 2023-01-01 2023-12-31 08328098 frs-core:ComputerEquipment 2022-12-31 08328098 frs-core:FurnitureFittings 2023-12-31 08328098 frs-core:FurnitureFittings 2023-01-01 2023-12-31 08328098 frs-core:FurnitureFittings 2022-12-31 08328098 frs-core:InvestmentPropertyIncludedWithinPPE 2023-12-31 08328098 frs-core:InvestmentPropertyIncludedWithinPPE 2022-12-31 08328098 frs-core:LandBuildings frs-core:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 08328098 frs-core:MotorVehicles 2023-12-31 08328098 frs-core:MotorVehicles 2023-01-01 2023-12-31 08328098 frs-core:MotorVehicles 2022-12-31 08328098 frs-core:PlantMachinery 2023-12-31 08328098 frs-core:PlantMachinery 2023-01-01 2023-12-31 08328098 frs-core:PlantMachinery 2022-12-31 08328098 frs-core:ShareCapital 2023-12-31 08328098 frs-core:RetainedEarningsAccumulatedLosses 2023-12-31 08328098 frs-bus:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 08328098 frs-bus:FilletedAccounts 2023-01-01 2023-12-31 08328098 frs-bus:SmallEntities 2023-01-01 2023-12-31 08328098 frs-bus:AuditExempt-NoAccountantsReport 2023-01-01 2023-12-31 08328098 frs-bus:SmallCompaniesRegimeForAccounts 2023-01-01 2023-12-31 08328098 frs-core:CostValuation 2022-12-31 08328098 frs-core:RevaluationsIncreaseDecreaseInInvestments 2023-12-31 08328098 frs-core:CostValuation 2023-12-31 08328098 frs-core:ProvisionsForImpairmentInvestments 2022-12-31 08328098 frs-core:ProvisionsForImpairmentInvestments 2023-12-31 08328098 frs-core:ListedExchangeTraded 2023-12-31 08328098 frs-core:ListedExchangeTraded 2022-12-31 08328098 frs-core:CostValuation frs-core:ListedExchangeTraded 2022-12-31 08328098 frs-core:RevaluationsIncreaseDecreaseInInvestments frs-core:ListedExchangeTraded 2023-12-31 08328098 frs-core:CostValuation frs-core:ListedExchangeTraded 2023-12-31 08328098 frs-core:ProvisionsForImpairmentInvestments frs-core:ListedExchangeTraded 2022-12-31 08328098 frs-core:ProvisionsForImpairmentInvestments frs-core:ListedExchangeTraded 2023-12-31 08328098 frs-bus:Director1 2023-01-01 2023-12-31 08328098 frs-countries:EnglandWales 2023-01-01 2023-12-31 08328098 2021-12-31 08328098 2022-12-31 08328098 2022-01-01 2022-12-31 08328098 frs-core:Non-currentFinancialInstruments 2022-12-31 08328098 frs-core:ShareCapital 2022-12-31 08328098 frs-core:RetainedEarningsAccumulatedLosses 2022-12-31
Registered number: 08328098
AVVRAX LTD
Unaudited Financial Statements
For The Year Ended 31 December 2023
Unaudited Financial Statements
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 08328098
2023 2022
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 19,736 25,337
Investments 5 1,352,827 1,347,128
1,372,563 1,372,465
CURRENT ASSETS
Stocks 6 266,992 313,598
Debtors 1,525,230 912,210
Cash at bank and in hand 569,551 462,026
2,361,773 1,687,834
Creditors: Amounts Falling Due Within One Year (1,598,872 ) (1,260,712 )
NET CURRENT ASSETS (LIABILITIES) 762,901 427,122
TOTAL ASSETS LESS CURRENT LIABILITIES 2,135,464 1,799,587
Creditors: Amounts Falling Due After More Than One Year (82,009 ) (97,939 )
NET ASSETS 2,053,455 1,701,648
CAPITAL AND RESERVES
Called up share capital 7 100 100
Profit and Loss Account 2,053,355 1,701,548
SHAREHOLDERS' FUNDS 2,053,455 1,701,648
Page 1
Page 2
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 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
Mr Raju Bhasin
Director
14/08/2024
The notes on pages 3 to 5 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
AVVRAX LTD is a private company, limited by shares, incorporated in England & Wales, registered number 08328098 . The registered office is Avvrax House, Sheaf Close, Lodge Farm Industrial Estate, Northampton, NN5 7UZ.
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.
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:
Freehold 08% Straight line method
Plant & Machinery 20% Reducing method
Motor Vehicles 25% Reducing method
Fixtures & Fittings 25% Straight line method
Computer Equipment 25% Straight line method
2.4. 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.
2.5. Financial Instruments
Basic financial instruments are recognised at amortized cost, except for investments in non-convertible preference and non puttable ordinary shares which are measured at fair value, with changes recognised in profit or loss. Derivative financial instruments are initially recorded at cost and thereafter at fair value with changes recognised in profit or loss.
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.
...CONTINUED
Page 3
Page 4
2.6. Taxation - continued
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. Critical accounting judgements and key sources of estimation uncertainty
In the application of the Company's accounting policies, the directors are required to make judgments, estimates and assumptions about the carrying amounts of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates. The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised if the revision affects only that period, or in the period of the revision and future periods if the revision affects both current and future periods. The Directors do not consider there are any critical judgments or sources of estimation uncertainty requiring disclosure beyond the accounting policies listed below.
2.8. Investment
Investment properties are carried at cost value and depreciuation is provided, whereas investment in share are carried at fair value determined annually and derived from the current market, adjusted if necessary for any difference in the nature, or condition of the specific asset. No depreciation is provided for. Changes in fair value are recognised in the profit and loss account.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 4 (2022: 4)
4 4
4. Tangible Assets
Investment Properties Plant & Machinery Motor Vehicles Fixtures & Fittings
£ £ £ £
Cost
As at 1 January 2023 - 12,159 42,174 6,775
Additions - - - -
As at 31 December 2023 - 12,159 42,174 6,775
Depreciation
As at 1 January 2023 - 10,171 21,776 4,404
Provided during the period - 398 6,835 813
As at 31 December 2023 - 10,569 28,611 5,217
Net Book Value
As at 31 December 2023 - 1,590 13,563 1,558
As at 1 January 2023 - 1,988 20,398 2,371
Computer Equipment Total
£ £
Cost
As at 1 January 2023 2,634 63,742
Additions 2,844 2,844
As at 31 December 2023 5,478 66,586
Depreciation
As at 1 January 2023 2,054 38,405
Provided during the period 399 8,445
As at 31 December 2023 2,453 46,850
...CONTINUED
Page 4
Page 5
Net Book Value
As at 31 December 2023 3,025 19,736
As at 1 January 2023 580 25,337
5. Investments
Subsidiaries Listed Total
£ £ £
Cost
As at 1 January 2023 1,327,427 19,701 1,347,128
Revaluations - 5,699 5,699
As at 31 December 2023 1,327,427 25,400 1,352,827
Provision
As at 1 January 2023 - - -
As at 31 December 2023 - - -
Net Book Value
As at 31 December 2023 1,327,427 25,400 1,352,827
As at 1 January 2023 1,327,427 19,701 1,347,128
6. Stocks
2023 2022
£ £
Finished goods 266,992 313,598
7. Share Capital
2023 2022
£ £
Allotted, Called up and fully paid 100 100
8. Related Party Transactions
The company was controlled during the current period by Avvrax Holdings Limitd by Virtue of its ownership of the entire issued Share Capital
Page 5