Acorah Software Products - Accounts Production 15.0.600 false true 31 July 2023 1 August 2022 false 1 August 2023 31 July 2024 31 July 2024 12071019 Mr Gregg David Ivers Mr Daniel Redfern Mr Mark Stephen Wearing Mr G D Ivers true iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 12071019 2023-07-31 12071019 2024-07-31 12071019 2023-08-01 2024-07-31 12071019 frs-core:ShareCapital 2024-07-31 12071019 frs-core:RetainedEarningsAccumulatedLosses 2024-07-31 12071019 frs-bus:PrivateLimitedCompanyLtd 2023-08-01 2024-07-31 12071019 frs-bus:FilletedAccounts 2023-08-01 2024-07-31 12071019 frs-bus:SmallEntities 2023-08-01 2024-07-31 12071019 frs-bus:AuditExempt-NoAccountantsReport 2023-08-01 2024-07-31 12071019 frs-bus:SmallCompaniesRegimeForAccounts 2023-08-01 2024-07-31 12071019 1 2023-08-01 2024-07-31 12071019 frs-bus:Director1 2023-08-01 2024-07-31 12071019 frs-bus:Director2 2023-08-01 2024-07-31 12071019 frs-bus:Director3 2023-08-01 2024-07-31 12071019 frs-countries:EnglandWales 2023-08-01 2024-07-31 12071019 2022-07-31 12071019 2023-07-31 12071019 2022-08-01 2023-07-31 12071019 frs-core:ShareCapital 2023-07-31 12071019 frs-core:RetainedEarningsAccumulatedLosses 2023-07-31
Registered number: 12071019
Datatek Holdings Limited
Unaudited Financial Statements
For The Year Ended 31 July 2024
Contents
Page
Balance Sheet 1
Notes to the Financial Statements 2—3
Page 1
Balance Sheet
Registered number: 12071019
2024 2023
Notes £ £ £ £
CURRENT ASSETS
Investments 4 1,246,211 1,246,211
1,246,211 1,246,211
NET CURRENT ASSETS (LIABILITIES) 1,246,211 1,246,211
TOTAL ASSETS LESS CURRENT LIABILITIES 1,246,211 1,246,211
NET ASSETS 1,246,211 1,246,211
CAPITAL AND RESERVES
Called up share capital 5 100 100
Profit and Loss Account 1,246,111 1,246,111
SHAREHOLDERS' FUNDS 1,246,211 1,246,211
For the year ending 31 July 2024 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 Gregg David Ivers
Director
22/08/2024
The notes on pages 2 to 3 form part of these financial statements.
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Page 2
Notes to the Financial Statements
1. General Information
Datatek Holdings Limited is a private company, limited by shares, incorporated in England & Wales, registered number 12071019 . The registered office is Jubilee House, East Beach, Lytham St. Annes, FY8 5FT.
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.
Going concern
These financial statements are prepared on a going concern basis. The Directors have every expectation that the company will continue in operational existence for the foreseeable future and meet its liabilities as they fall due, this being supported by strong financial forecasts.
Thus the Directors consider it appropriate to prepare these financial statements on a going concern basis.
2.2. Financial Instruments
The company has elected to apply the provisions of Section 11 'Basic Financial Instruments; and Section 12 'Other Financial Instruments Issues' of FRS 102 to all of its financial instruments.
Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.
Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.
Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measure at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.
Classification of financial liabilities
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangement entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.
Basic financial liabilities
Basic financial liabilities, including creditors, bank loans and loans from fellow group companies are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest.
Financial liabilities classified as payable within one year are not amortised.
Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.
Equity instruments
Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividend payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.
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2.3. 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.
3. Average Number of Employees
Average number of employees, including directors, during the year was: NIL (2023: NIL)
- -
4. Current Asset Investments
2024 2023
£ £
Unlisted investments 1,246,211 1,246,211
Datatek Limited
Registered office: Jubilee House, East Beach, Lytham St Annes, FY8 5FT.
Nature of business: Trading company
                                                                                                           %
Class of shares:                                                                               holding
Ordinary                                                                                           100.00
5. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 100 100
6. Ultimate Controlling Party
The company's ultimate controlling party is Mr G D Ivers by virtue of his ownership of 60% of the issued share capital in the company.
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