Acorah Software Products - Accounts Production 15.0.500 false true 31 August 2022 1 September 2021 false 1 September 2022 31 August 2023 31 August 2023 07756327 Mr D Omari iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 07756327 2022-08-31 07756327 2023-08-31 07756327 2022-09-01 2023-08-31 07756327 frs-core:CurrentFinancialInstruments 2023-08-31 07756327 frs-core:BetweenOneFiveYears 2023-08-31 07756327 frs-core:ComputerEquipment 2023-08-31 07756327 frs-core:ComputerEquipment 2022-09-01 2023-08-31 07756327 frs-core:ComputerEquipment 2022-08-31 07756327 frs-core:FurnitureFittings 2023-08-31 07756327 frs-core:FurnitureFittings 2022-09-01 2023-08-31 07756327 frs-core:FurnitureFittings 2022-08-31 07756327 frs-core:LandBuildings frs-core:LeasedAssetsHeldAsLessee 2023-08-31 07756327 frs-core:LandBuildings frs-core:LeasedAssetsHeldAsLessee 2022-09-01 2023-08-31 07756327 frs-core:LandBuildings frs-core:LeasedAssetsHeldAsLessee 2022-08-31 07756327 frs-core:MoreThanFiveYears 2023-08-31 07756327 frs-core:WithinOneYear 2023-08-31 07756327 frs-core:ShareCapital 2023-08-31 07756327 frs-core:RetainedEarningsAccumulatedLosses 2023-08-31 07756327 frs-bus:PrivateLimitedCompanyLtd 2022-09-01 2023-08-31 07756327 frs-bus:FilletedAccounts 2022-09-01 2023-08-31 07756327 frs-bus:SmallEntities 2022-09-01 2023-08-31 07756327 frs-bus:AuditExempt-NoAccountantsReport 2022-09-01 2023-08-31 07756327 frs-bus:SmallCompaniesRegimeForAccounts 2022-09-01 2023-08-31 07756327 frs-bus:Director1 2022-09-01 2023-08-31 07756327 frs-core:CurrentFinancialInstruments 1 2023-08-31 07756327 frs-countries:EnglandWales 2022-09-01 2023-08-31 07756327 2021-08-31 07756327 2022-08-31 07756327 2021-09-01 2022-08-31 07756327 frs-core:CurrentFinancialInstruments 2022-08-31 07756327 frs-core:BetweenOneFiveYears 2022-08-31 07756327 frs-core:MoreThanFiveYears 2022-08-31 07756327 frs-core:WithinOneYear 2022-08-31 07756327 frs-core:ShareCapital 2022-08-31 07756327 frs-core:RetainedEarningsAccumulatedLosses 2022-08-31 07756327 frs-core:CurrentFinancialInstruments 1 2022-08-31
Registered number: 07756327
RICHERS & VISION LTD
Unaudited Financial Statements
For The Year Ended 31 August 2023
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—6
Page 1
Balance Sheet
Registered number: 07756327
2023 2022
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 37,302 -
37,302 -
CURRENT ASSETS
Stocks 5 342,282 352,491
Debtors 6 486,507 554,990
Cash at bank and in hand 147,153 118,052
975,942 1,025,533
Creditors: Amounts Falling Due Within One Year 7 (923,269 ) (852,820 )
NET CURRENT ASSETS (LIABILITIES) 52,673 172,713
TOTAL ASSETS LESS CURRENT LIABILITIES 89,975 172,713
NET ASSETS 89,975 172,713
CAPITAL AND RESERVES
Called up share capital 9 50,000 50,000
Profit and Loss Account 39,975 122,713
SHAREHOLDERS' FUNDS 89,975 172,713
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For the year ending 31 August 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 D Omari
Director
29/08/2024
The notes on pages 3 to 6 form part of these financial statements.
Page 2
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Notes to the Financial Statements
1. General Information
RICHERS & VISION LTD is a private company, limited by shares, incorporated in England & Wales, registered number 07756327 . The registered office is Lion Court, Farnham Road, Bordon, England, GU35 0NF.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgment in applying the company's accounting policies.

The company's functional and presentational currency is pound sterling.
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.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.
Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.
Depreciation is provided on the following basis:
Leasehold Over the term of the lease
Fixtures & Fittings 20% Straight-line method
Computer Equipment 33% Straight-line method
The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.
Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in the Profit and loss account.
2.4. Leasing and Hire Purchase Contracts
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 on a straight-line basis over the lease term..
2.5. Stocks and Work in Progress
Stocks 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.
2.6. Financial Instruments
The company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors.
2.7. 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.
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2.8. 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.
2.9. Pensions
The company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the company pays fixed contributions into a separate entity. Once the contributions have been paid the company has no further payment obligations.

The contributions are recognised as an expense in the Profit and loss account when they fall due. Amounts not paid are shown in accruals as a liability in the Balance sheet. The assets of the plan are held separately from the company in independently administered funds.
3. Average Number of Employees
The average monthly number of employees, including directors, during the year were  5 (2022: 5)
5 5
4. Tangible Assets
Land & Property
Leasehold Fixtures & Fittings Computer Equipment Total
£ £ £ £
Cost
As at 1 September 2022 - 20,283 1,936 22,219
Additions 38,150 - - 38,150
As at 31 August 2023 38,150 20,283 1,936 60,369
Depreciation
As at 1 September 2022 - 20,283 1,936 22,219
Provided during the period 848 - - 848
As at 31 August 2023 848 20,283 1,936 23,067
Net Book Value
As at 31 August 2023 37,302 - - 37,302
As at 1 September 2022 - - - -
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5. Stocks
2023 2022
£ £
Finished goods 342,282 352,491
6. Debtors
2023 2022
£ £
Due within one year
Trade debtors 283,387 490,924
Prepayments and accrued income - 10,351
Other debtors (1) 149,236 -
VAT 53,777 53,715
Other taxes and social security 107 -
486,507 554,990
7. Creditors: Amounts Falling Due Within One Year
2023 2022
£ £
Trade creditors 86,500 51,989
Bank loans and overdrafts - 683
Corporation tax - (95 )
Other taxes and social security - 10,757
Other creditors - (19 )
Accruals and deferred income 101,968 -
Director's loan account 734,801 789,505
923,269 852,820
8. Deferred Taxation
The provision for deferred taxation is made up of accelerated capital allowances.
9. Share Capital
2023 2022
£ £
Allotted, Called up and fully paid 50,000 50,000
10. Other Commitments
The total of future minimum lease payments under non-cancellable operating leases are as following:
2023 2022
£ £
Not later than one year 225,000 -
Later than one year and not later than five years 1,314,795 -
Later than five years 2,394,247 -
3,934,042 -
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11. Related Party Transactions
At the year end, the company owed the director £734,801 (2022 - £789,505). This is an interest free loan
and repayable on demand.
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