Acorah Software Products - Accounts Production 15.0.600 false true true 30 April 2023 1 May 2022 false 1 May 2023 30 April 2024 30 April 2024 08977626 Ms R K Dayal iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 08977626 2023-04-30 08977626 2024-04-30 08977626 2023-05-01 2024-04-30 08977626 frs-core:CurrentFinancialInstruments 2024-04-30 08977626 frs-core:Non-currentFinancialInstruments 2024-04-30 08977626 frs-core:ComputerEquipment 2024-04-30 08977626 frs-core:ComputerEquipment 2023-05-01 2024-04-30 08977626 frs-core:ComputerEquipment 2023-04-30 08977626 frs-core:FurnitureFittings 2024-04-30 08977626 frs-core:FurnitureFittings 2023-05-01 2024-04-30 08977626 frs-core:FurnitureFittings 2023-04-30 08977626 frs-core:ShareCapital 2024-04-30 08977626 frs-core:RetainedEarningsAccumulatedLosses 2024-04-30 08977626 frs-bus:PrivateLimitedCompanyLtd 2023-05-01 2024-04-30 08977626 frs-bus:FilletedAccounts 2023-05-01 2024-04-30 08977626 frs-bus:SmallEntities 2023-05-01 2024-04-30 08977626 frs-bus:AuditExempt-NoAccountantsReport 2023-05-01 2024-04-30 08977626 frs-bus:SmallCompaniesRegimeForAccounts 2023-05-01 2024-04-30 08977626 frs-bus:Director1 2023-05-01 2024-04-30 08977626 frs-bus:Director1 2023-04-30 08977626 frs-bus:Director1 2024-04-30 08977626 frs-core:CurrentFinancialInstruments 1 2024-04-30 08977626 frs-countries:EnglandWales 2023-05-01 2024-04-30 08977626 2022-04-30 08977626 2023-04-30 08977626 2022-05-01 2023-04-30 08977626 frs-core:CurrentFinancialInstruments 2023-04-30 08977626 frs-core:Non-currentFinancialInstruments 2023-04-30 08977626 frs-core:ShareCapital 2023-04-30 08977626 frs-core:RetainedEarningsAccumulatedLosses 2023-04-30 08977626 frs-core:CurrentFinancialInstruments 1 2023-04-30
Registered number: 08977626
Dayal Consultants Ltd
Unaudited Financial Statements
For The Year Ended 30 April 2024
Contents
Page
Statement of Financial Position 1—2
Notes to the Financial Statements 3—6
Page 1
Statement of Financial Position
Registered number: 08977626
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 14,683 20,900
Investment Properties 5 819,509 416,309
834,192 437,209
CURRENT ASSETS
Debtors 6 646,163 712,711
Cash at bank and in hand 201,111 529,484
847,274 1,242,195
Creditors: Amounts Falling Due Within One Year 7 (1,166,925 ) (1,320,745 )
NET CURRENT ASSETS (LIABILITIES) (319,651 ) (78,550 )
TOTAL ASSETS LESS CURRENT LIABILITIES 514,541 358,659
Creditors: Amounts Falling Due After More Than One Year 8 (159,311 ) -
PROVISIONS FOR LIABILITIES
Deferred Taxation (3,671 ) (3,971 )
NET ASSETS 351,559 354,688
CAPITAL AND RESERVES
Called up share capital 9 100 100
Income Statement 351,459 354,588
SHAREHOLDERS' FUNDS 351,559 354,688
Page 1
Page 2
For the year ending 30 April 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 her 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 Income Statement.
On behalf of the board
Ms R K Dayal
Director
28 August 2024
The notes on pages 3 to 6 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Dayal Consultants Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 08977626 . The registered office is 73-75 West Street, Gravesend, DA11 0BS.
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 financial statements are prepared in UK sterling, which is the functional currency of the entity. Monetary amounts in these financial statements are rounded to the nearest UK pound.
The principle accounting policies adopted are set below.
2.2. Going Concern Disclosure
The director has considered the prospect of the business for the next twelve months and beyond and has arrived at a reasonable expectation the company will continue to meet its obligations as they fall due. The director has also pledged their financial support to assist with this if required. On this basis, the director will continue to adopt the going concern basis of accounting in preparing the financial statements.
2.3. Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.
2.4. Tangible Fixed Assets and Depreciation
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures & Fittings 25% Reducing Balance
Computer Equipment 33% Straight Line
Tangible assets are initially recorded at cost and subsequently stated at cost less accumulated depreciation and impairment losses.
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 income statement.
2.6. Taxation
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 is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the statement of financial position date.
Deferred Tax
Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.
The carrying amount of deferred tax assets is reviewed at each reporting end date 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 is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.
2.7. Pensions
The company operates a defined pension contribution scheme. Contributions are charged to the income statement as they become payable in accordance with the rules of the scheme.
Page 3
Page 4
2.8. Financial Instruments
The company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other debtors, creditors, loans from banks and other third parties, loans to related parties and investments in non-puttable ordinary shares.
2.9. Cash and Cash Equivalents
Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.
2.10. Critical Accounting Judgements and Key Sources of Estimation Uncertainity
In the application of the company's accounting policies management is required to make judgements, estimates and assumptions about the carrying value of assets and liabilities that are not readily ascertainable from other sources. The estimates and underlying assumptions are based on historical experience and other factors that are considered to be relevant. Actual outcomes may differ from these estimates.
The estimates and underlying assumptions are reviewed on a continuing basis. Revisions to accounting estimates are recognised in the period in which the estimates are revised.
The key areas of estimation uncertainty that have a significant effect on the amounts recognised in the financial statements are described below:
Accrued Expenditure
The company includes a provision for invoices which are yet to be received from and amounts paid in advance to suppliers.These provisions are estimated based upon the expected values of the invoices which are issued and services received following the period end.
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 May 2023 21,625 19,337 40,962
Additions - 1,565 1,565
As at 30 April 2024 21,625 20,902 42,527
Depreciation
As at 1 May 2023 5,406 14,656 20,062
Provided during the period 4,055 3,727 7,782
As at 30 April 2024 9,461 18,383 27,844
Net Book Value
As at 30 April 2024 12,164 2,519 14,683
As at 1 May 2023 16,219 4,681 20,900
5. Investment Property
2024
£
Fair Value
As at 1 May 2023 416,309
Additions 403,200
As at 30 April 2024 819,509
Page 4
Page 5
6. Debtors
2024 2023
£ £
Due within one year
Trade debtors - 80,448
Other debtors 10,659 10,659
Unsecured term loan 600,000 600,000
VAT recoverable 8,909 6,604
Director's loan account 23,271 -
Amounts owed by group undertakings 3,324 15,000
646,163 712,711
7. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 1,157,470 1,154,726
Bank loans and overdrafts 2,797 165,103
Corporation tax 6,658 -
Accruals and deferred income - 915
Director's loan account - 1
1,166,925 1,320,745
8. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Bank loans 159,311 -
9. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 100 100
The nominal value per share is £1 and there are 100 Ordinary Shares in issue.
10. Directors Advances, Credits and Guarantees
Included within Debtors are the following loans to directors:
As at 1 May 2023 Amounts advanced Amounts repaid Amounts written off As at 30 April 2024
£ £ £ £ £
Ms Rajvinder Dayal (1 ) 75,822 (52,550 ) - 23,271
The above loan will be repaid within 9 months of the year end.
11. Dividends
2024 2023
£ £
On equity shares:
Final dividend paid 18,435 37,510
Page 5
Page 6
12. Related Party Transactions
As at 30 April 2024, the Directors Loan Account balance of Ms R K Dayal is £23,271, which is a current asset, interest is charged at 2.50% per annum and is repaid within 9 months of the year end.
As at 30 April 2024, RBB Law Limited, a company related via common directorship and ownership, owed the company £3,324. This is a current asset, interest free and repayable on demand.
Page 6