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 07194136 Mr Tommaso Felici Mrs Helena Felici-Wohlfahrt iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 07194136 2022-11-30 07194136 2023-11-30 07194136 2022-12-01 2023-11-30 07194136 frs-core:CurrentFinancialInstruments 2023-11-30 07194136 frs-core:Non-currentFinancialInstruments 2023-11-30 07194136 frs-core:BetweenOneFiveYears 2023-11-30 07194136 frs-core:ComputerEquipment 2023-11-30 07194136 frs-core:ComputerEquipment 2022-12-01 2023-11-30 07194136 frs-core:ComputerEquipment 2022-11-30 07194136 frs-core:FurnitureFittings 2023-11-30 07194136 frs-core:FurnitureFittings 2022-12-01 2023-11-30 07194136 frs-core:FurnitureFittings 2022-11-30 07194136 frs-core:NetGoodwill 2023-11-30 07194136 frs-core:NetGoodwill 2022-12-01 2023-11-30 07194136 frs-core:NetGoodwill 2022-11-30 07194136 frs-core:MotorVehicles 2023-11-30 07194136 frs-core:MotorVehicles 2022-12-01 2023-11-30 07194136 frs-core:MotorVehicles 2022-11-30 07194136 frs-core:PlantMachinery 2023-11-30 07194136 frs-core:PlantMachinery 2022-12-01 2023-11-30 07194136 frs-core:PlantMachinery 2022-11-30 07194136 frs-core:WithinOneYear 2023-11-30 07194136 frs-core:ShareCapital 2023-11-30 07194136 frs-core:RetainedEarningsAccumulatedLosses 2022-12-01 2023-11-30 07194136 frs-core:RetainedEarningsAccumulatedLosses 2023-11-30 07194136 frs-bus:PrivateLimitedCompanyLtd 2022-12-01 2023-11-30 07194136 frs-bus:FilletedAccounts 2022-12-01 2023-11-30 07194136 frs-bus:SmallEntities 2022-12-01 2023-11-30 07194136 frs-bus:AuditExempt-NoAccountantsReport 2022-12-01 2023-11-30 07194136 frs-bus:SmallCompaniesRegimeForAccounts 2022-12-01 2023-11-30 07194136 frs-bus:Director1 2022-12-01 2023-11-30 07194136 frs-bus:Director1 2022-11-30 07194136 frs-bus:Director1 2023-11-30 07194136 frs-bus:Director2 2022-12-01 2023-11-30 07194136 frs-bus:Director2 2022-11-30 07194136 frs-bus:Director2 2023-11-30 07194136 frs-countries:EnglandWales 2022-12-01 2023-11-30 07194136 2021-11-30 07194136 2022-11-30 07194136 2021-12-01 2022-11-30 07194136 frs-core:CurrentFinancialInstruments 2022-11-30 07194136 frs-core:Non-currentFinancialInstruments 2022-11-30 07194136 frs-core:BetweenOneFiveYears 2022-11-30 07194136 frs-core:WithinOneYear 2022-11-30 07194136 frs-core:ShareCapital 2021-11-30 07194136 frs-core:ShareCapital 2022-11-30 07194136 frs-core:RetainedEarningsAccumulatedLosses 2021-12-01 2022-11-30 07194136 frs-core:RetainedEarningsAccumulatedLosses frs-core:PreviouslyStatedAmount 2021-11-30 07194136 frs-core:RetainedEarningsAccumulatedLosses 2022-11-30
Registered number: 07194136
Lambdatek Limited
Unaudited Financial Statements
For The Year Ended 30 November 2023
Contents
Page
Balance Sheet 1—2
Statement of Changes in Equity 3
Notes to the Financial Statements 4—8
Page 1
Balance Sheet
Registered number: 07194136
2023 2022
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 5 35,167 67,046
Investment Properties 6 640,000 605,000
675,167 672,046
CURRENT ASSETS
Stocks 7 10,000 30,000
Debtors 8 1,055,774 664,207
Cash at bank and in hand 772,169 1,055,219
1,837,943 1,749,426
Creditors: Amounts Falling Due Within One Year 9 (1,058,070 ) (901,544 )
NET CURRENT ASSETS (LIABILITIES) 779,873 847,882
TOTAL ASSETS LESS CURRENT LIABILITIES 1,455,040 1,519,928
Creditors: Amounts Falling Due After More Than One Year 10 (14,655 ) (27,893 )
PROVISIONS FOR LIABILITIES
Deferred Taxation (9,392 ) (12,739 )
NET ASSETS 1,430,993 1,479,296
CAPITAL AND RESERVES
Called up share capital 12 100 100
Profit and Loss Account 1,430,893 1,479,196
SHAREHOLDERS' FUNDS 1,430,993 1,479,296
Page 1
Page 2
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.
On behalf of the board
Mr Tommaso Felici
Director
28/08/2024
The notes on pages 4 to 8 form part of these financial statements.
Page 2
Page 3
Statement of Changes in Equity
Share Capital Profit and Loss Account Total
£ £ £
As at 1 December 2021 100 1,402,342 1,402,442
Profit for the year and total comprehensive income - 124,854 124,854
Dividends paid - (48,000) (48,000)
As at 30 November 2022 and 1 December 2022 100 1,479,196 1,479,296
Loss for the year and total comprehensive income - (15,742 ) (15,742)
Dividends paid - (32,561) (32,561)
As at 30 November 2023 100 1,430,893 1,430,993
Page 3
Page 4
Notes to the Financial Statements
1. General Information
Lambdatek Limited is a private company, limited by shares, incorporated in England & Wales, registered number 07194136 . The registered office is 21 Ferry Hinksey Road, Oxford, Oxfordshire, OX2 0DP.
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. Intangible Fixed Assets and Amortisation - Goodwill
Goodwill is the difference between amounts paid on the acquisition of a business and the fair value of the separable net assets. It is amortised to profit and loss account over its estimated economic life of .... years.
2.4. 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 25% straight line
Motor Vehicles 20% stright line
Fixtures & Fittings 25% straight line
Computer Equipment 33.33% straight line
2.5. Investment Properties
All investment properties are carried at fair value determined annually and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided for. Changes in fair value are recognised in the profit and loss account.
Page 4
Page 5
2.6. 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.
2.7. 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.
2.8. 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.
2.9. 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.
Page 5
Page 6
2.10. Pensions
The company operates a defined pension contribution scheme. Contributions are charged to the profit and loss account as they become payable in accordance with the rules of the scheme.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 8 (2022: 8)
8 8
4. Intangible Assets
Goodwill
£
Cost
As at 1 December 2022 300,000
As at 30 November 2023 300,000
Amortisation
As at 1 December 2022 300,000
As at 30 November 2023 300,000
Net Book Value
As at 30 November 2023 -
As at 1 December 2022 -
5. Tangible Assets
Plant & Machinery Motor Vehicles Fixtures & Fittings Computer Equipment Total
£ £ £ £ £
Cost or Valuation
As at 1 December 2022 56,739 117,146 56,134 14,430 244,449
Additions - - 1,475 383 1,858
As at 30 November 2023 56,739 117,146 57,609 14,813 246,307
Depreciation
As at 1 December 2022 36,914 69,925 55,512 15,052 177,403
Provided during the period 14,184 19,127 920 (494 ) 33,737
As at 30 November 2023 51,098 89,052 56,432 14,558 211,140
Net Book Value
As at 30 November 2023 5,641 28,094 1,177 255 35,167
As at 1 December 2022 19,825 47,221 622 (622 ) 67,046
Page 6
Page 7
6. Investment Property
2023
£
Fair Value
As at 1 December 2022 605,000
Revaluations 35,000
As at 30 November 2023 640,000
7. Stocks
2023 2022
£ £
Finished goods 10,000 30,000
8. Debtors
2023 2022
£ £
Due within one year
Trade debtors 106,709 79,599
Prepayments and accrued income - 4,083
Other debtors 716,693 580,525
Directors' loan accounts 173,736 -
997,138 664,207
Due after more than one year
Corporation tax recoverable assets 58,636 -
1,055,774 664,207
9. Creditors: Amounts Falling Due Within One Year
2023 2022
£ £
Net obligations under finance lease and hire purchase contracts 6,614 -
Trade creditors 714,276 656,099
Corporation tax 65,712 27,513
VAT 264,482 217,932
Accruals and deferred income 6,986 -
1,058,070 901,544
Page 7
Page 8
10. Creditors: Amounts Falling Due After More Than One Year
2023 2022
£ £
Net obligations under finance lease and hire purchase contracts 14,655 27,893
Bank loans are secured by way of a charge against unti 5C Grange Court Business Park, Abingdon, Barton Lane.
11. Obligations Under Finance Leases and Hire Purchase
2023 2022
£ £
The future minimum finance lease payments are as follows:
Not later than one year 6,614 -
Later than one year and not later than five years 14,655 -
21,269 -
Less: Finance charges allocated to future periods - (27,893 )
21,269 27,893
12. Share Capital
2023 2022
£ £
Allotted, Called up and fully paid 100 100
13. Directors Advances, Credits and Guarantees
Included within Debtors are the following loans to directors:
As at 1 December 2022 Amounts advanced Amounts repaid Amounts written off As at 30 November 2023
£ £ £ £ £
Mr Tommaso Felici - 86,868 - - 86,868
Mrs Helena Felici-Wohlfahrt - 86,868 - - 86,868
The above loan is unsecured, interest free and repayable on demand.
14. Related Party Transactions
Other debtors includes amounts owed by HTF Holdings Limited a company under common control registered in England and Wales Reg No. 09920932.
Page 8