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Registered number: 08280388
Ryotek FSC Limited
Unaudited Financial Statements
For The Year Ended 30 November 2023
Contents
Page
Accountant's Report 1
Balance Sheet 2—3
Notes to the Financial Statements 4—6
Page 1
Accountant's Report
Report to the director on the preparation of the unaudited statutory accounts of Ryotek FSC Limited for the year ended 30 November 2023
To assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Ryotek FSC Limited which comprise the Profit and Loss Account, the Balance Sheet and the related notes, from the company’s accounting records and from information and explanations you have given us.
As a practising member of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at http://www.accaglobal.com/en/member/professional-standards/rules-standards/acca-rulebook.html.
This report is made to the director of Ryotek FSC Limited , as a body, in accordance with the terms of our engagement. Our work has been undertaken solely to prepare for your approval the accounts of Ryotek FSC Limited and state those matters that we have agreed to state to the director of Ryotek FSC Limited , as a body, in this report in accordance with the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/content/dam/ACCA_Global/Technical/fact/technical-factsheet-163.pdf. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Ryotek FSC Limited and its director as a body for our work or for this report.
It is your duty to ensure that Ryotek FSC Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit or loss of Ryotek FSC Limited . You consider that Ryotek FSC Limited is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit or a review of the accounts of Ryotek FSC Limited . For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the financial statements.
Signed
30 August 2024
Raven Accounting (West Midlands) Limited
Chartered Certified Accountants
9-11 Stratford Road
Shirley
Solihull
B90 3LU
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Balance Sheet
Registered number: 08280388
2023 2022
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 892 2,155
892 2,155
CURRENT ASSETS
Debtors 5 856 30
Cash at bank and in hand 3,465 12,860
4,321 12,890
Creditors: Amounts Falling Due Within One Year 6 (42,548 ) (46,856 )
NET CURRENT ASSETS (LIABILITIES) (38,227 ) (33,966 )
TOTAL ASSETS LESS CURRENT LIABILITIES (37,335 ) (31,811 )
Creditors: Amounts Falling Due After More Than One Year 7 (47,800 ) (48,698 )
PROVISIONS FOR LIABILITIES
Deferred Taxation - (410 )
NET LIABILITIES (85,135 ) (80,919 )
CAPITAL AND RESERVES
Called up share capital 9 100 100
Profit and Loss Account (85,235 ) (81,019 )
SHAREHOLDERS' FUNDS (85,135) (80,919)
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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 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.
The financial statements were approved by the board of directors on 30 August 2024 and were signed on its behalf by:
Mr J A O'Riordan
Director
30 August 2024
The notes on pages 4 to 6 form part of these financial statements.
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Notes to the Financial Statements
1. General Information
Ryotek FSC Limited is a private company, limited by shares, incorporated in England & Wales, registered number 08280388 . The registered office is 9-11 Stratford Road, Shirley, Solihull, B90 3LU.
The presentation currency of the financial statements is the Pound Sterling (£).
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. Going Concern Disclosure
The directors have not identified any material uncertainties related to events or conditions that may cast significant doubt about the company's ability to continue as a going concern.
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:
Computer Equipment 25% on reducing balance
2.4. 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.
2.5. Government Grant
Government grants are recognised in the profit and loss account in an appropriate manner that matches them with the expenditure towards which they are intended to contribute.
Grants for immediate financial support or to cover costs already incurred are recognised immediately in the profit and loss account. Grants towards general activities of the entity over a specific period are recognised in the profit and loss account over that period.
Grants towards fixed assets are recognised over the expected useful lives of the related assets and are treated as deferred income and released to the profit and loss account over the useful life of the asset concerned.
All grants in the profit and loss account are recognised when all conditions for receipt have been complied with.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 1 (2022: 1)
1 1
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4. Tangible Assets
Computer Equipment
£
Cost
As at 1 December 2022 6,012
Disposals (3,013 )
As at 30 November 2023 2,999
Depreciation
As at 1 December 2022 3,857
Provided during the period 600
Disposals (2,350 )
As at 30 November 2023 2,107
Net Book Value
As at 30 November 2023 892
As at 1 December 2022 2,155
5. Debtors
2023 2022
£ £
Due within one year
Trade debtors 856 -
Other debtors - 30
856 30
6. Creditors: Amounts Falling Due Within One Year
2023 2022
£ £
Other loans 11,900 16,400
Other creditors 30,648 30,456
42,548 46,856
7. Creditors: Amounts Falling Due After More Than One Year
2023 2022
£ £
Bank loans 47,800 48,698
8. Provisions for Liabilities
Deferred Tax Total
£ £
As at 1 December 2022 410 410
Deferred taxation (410 ) (410 )
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9. Share Capital
2023 2022
Allotted, called up and fully paid £ £
100 Ordinary Shares of £ 1 each 100 100
10. Related Party Transactions
The director of the company has loaned the company money which is interest free and repayable on demand. At the end of the year the outstanding amounts totalled £30,168 (2022 - £29,815).
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