Acorah Software Products - Accounts Production 15.0.600 false true 28 February 2022 1 March 2021 true No description of principal activity 1 March 2022 28 February 2023 28 February 2023 SC687610 Mr Mehmood Noman iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure SC687610 2022-02-28 SC687610 2023-02-28 SC687610 2022-03-01 2023-02-28 SC687610 frs-core:CurrentFinancialInstruments 2023-02-28 SC687610 frs-core:MotorVehicles 2023-02-28 SC687610 frs-core:MotorVehicles 2022-03-01 2023-02-28 SC687610 frs-core:MotorVehicles 2022-02-28 SC687610 frs-core:PlantMachinery 2023-02-28 SC687610 frs-core:PlantMachinery 2022-03-01 2023-02-28 SC687610 frs-core:PlantMachinery 2022-02-28 SC687610 frs-core:ShareCapital 2023-02-28 SC687610 frs-core:RetainedEarningsAccumulatedLosses 2023-02-28 SC687610 frs-bus:PrivateLimitedCompanyLtd 2022-03-01 2023-02-28 SC687610 frs-bus:FullAccounts 2022-03-01 2023-02-28 SC687610 frs-bus:SmallEntities 2022-03-01 2023-02-28 SC687610 frs-bus:AuditExempt-NoAccountantsReport 2022-03-01 2023-02-28 SC687610 frs-bus:SmallCompaniesRegimeForAccounts 2022-03-01 2023-02-28 SC687610 frs-bus:SmallCompaniesRegimeForDirectorsReport 2022-03-01 2023-02-28 SC687610 frs-bus:Director1 2022-03-01 2023-02-28 SC687610 frs-countries:Scotland 2022-03-01 2023-02-28 SC687610 2021-02-28 SC687610 2022-02-28 SC687610 2021-03-01 2022-02-28 SC687610 frs-core:CurrentFinancialInstruments 2022-02-28 SC687610 frs-core:ShareCapital 2022-02-28 SC687610 frs-core:RetainedEarningsAccumulatedLosses 2022-02-28
Registered number: SC687610
Pelazi Limited
Director's Report and
Unaudited Financial Statements
For The Year Ended 28 February 2023
Contents
Page
Company Information 1
Director's Report 2
Profit and Loss Account 3
Balance Sheet 4
Notes to the Financial Statements 5—6
Page 1
Company Information
Director Mr Mehmood Noman
Company Number SC687610
Registered Office 5 South Charlotte Street
Edinburgh
EH2 4AN
Page 1
Page 2
Director's Report
The director presents his report and the financial statements for the year ended 28 February 2023.
Directors
The director who held office during the year were as follows:
Mr Mehmood Noman
Statement of Director's Responsibilities
The director is responsible for preparing the Director's Report and the financial statements in accordance with applicable law and regulations.
Company law requires the director to prepare financial statements for each financial year. Under that law the director has elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the director must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing the financial statements the director is required to:
  • select suitable accounting policies and then apply them consistently;
  • make judgments and accounting estimates that are reasonable and prudent;
  • prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.
The director is responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. He is also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
The director is responsible for the maintenance and integrity of the corporate and financial information included on the company's website. Legislation in the United Kingdom governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.
Small Company Rules
This report has been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.
On behalf of the board
Mr Mehmood Noman
Director
27/08/2024
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Profit and Loss Account
2023 2022
Notes £ £
TURNOVER 1,797,210 226,551
Cost of sales (1,348,932 ) (171,726 )
GROSS PROFIT 448,278 54,825
Administrative expenses (258,185 ) (52,702 )
OPERATING PROFIT AND PROFIT BEFORE TAXATION 190,093 2,123
Tax on Profit (18,469 ) -
PROFIT AFTER TAXATION BEING PROFIT FOR THE FINANCIAL YEAR 171,624 2,123
The notes on pages 5 to 6 form part of these financial statements.
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Balance Sheet
2023 2022
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 94,160 1,275
94,160 1,275
CURRENT ASSETS
Stocks 5 105,780 1,156
Debtors 6 95,515 1,878
Cash at bank and in hand 16,383 201
217,678 3,235
Creditors: Amounts Falling Due Within One Year 7 (88,091 ) (2,287 )
NET CURRENT ASSETS (LIABILITIES) 129,587 948
TOTAL ASSETS LESS CURRENT LIABILITIES 223,747 2,223
NET ASSETS 223,747 2,223
CAPITAL AND RESERVES
Called up share capital 8 50,000 100
Profit and Loss Account 173,747 2,123
SHAREHOLDERS' FUNDS 223,747 2,223
For the year ending 28 February 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 in accordance with the provisions applicable to companies subject to the small companies' regime.
On behalf of the board
Mr Mehmood Noman
Director
27/08/2024
The notes on pages 5 to 6 form part of these financial statements.
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Notes to the Financial Statements
1. General Information
Pelazi Limited is a private company, limited by shares, incorporated in Scotland, registered number SC687610 . The registered office is 5 South Charlotte Street, Edinburgh, EH2 4AN.
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. 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 15 - 20 %
Motor Vehicles 15 - 20 %
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. 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.
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3. Average Number of Employees
Average number of employees, including directors, during the year was: 21 (2022: 1)
21 1
4. Tangible Assets
Plant & Machinery Motor Vehicles Total
£ £ £
Cost
As at 1 March 2022 1,500 - 1,500
Additions - 93,110 93,110
As at 28 February 2023 1,500 93,110 94,610
Depreciation
As at 1 March 2022 225 - 225
Provided during the period 225 - 225
As at 28 February 2023 450 - 450
Net Book Value
As at 28 February 2023 1,050 93,110 94,160
As at 1 March 2022 1,275 - 1,275
5. Stocks
2023 2022
£ £
Stock 105,780 1,156
6. Debtors
2023 2022
£ £
Due within one year
Trade debtors 95,515 1,878
7. Creditors: Amounts Falling Due Within One Year
2023 2022
£ £
Trade creditors 69,622 2,287
Taxation and social security 18,469 -
88,091 2,287
8. Share Capital
2023 2022
£ £
Allotted, Called up and fully paid 50,000 100
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