Acorah Software Products - Accounts Production 15.0.600 false true 31 March 2023 1 April 2022 false 1 April 2023 31 March 2024 31 March 2024 05160594 Mr Harmit Kalra Mr Ramesh Tirumalai Govindan iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 05160594 2023-03-31 05160594 2024-03-31 05160594 2023-04-01 2024-03-31 05160594 frs-core:CurrentFinancialInstruments 2024-03-31 05160594 frs-core:ComputerEquipment 2024-03-31 05160594 frs-core:ComputerEquipment 2023-04-01 2024-03-31 05160594 frs-core:ComputerEquipment 2023-03-31 05160594 frs-core:ShareCapital 2024-03-31 05160594 frs-core:RetainedEarningsAccumulatedLosses 2024-03-31 05160594 frs-bus:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 05160594 frs-bus:FilletedAccounts 2023-04-01 2024-03-31 05160594 frs-bus:SmallEntities 2023-04-01 2024-03-31 05160594 frs-bus:AuditExempt-NoAccountantsReport 2023-04-01 2024-03-31 05160594 frs-bus:SmallCompaniesRegimeForAccounts 2023-04-01 2024-03-31 05160594 frs-bus:Director1 2023-04-01 2024-03-31 05160594 frs-bus:Director2 2023-04-01 2024-03-31 05160594 frs-countries:EnglandWales 2023-04-01 2024-03-31 05160594 2022-03-31 05160594 2023-03-31 05160594 2022-04-01 2023-03-31 05160594 frs-core:CurrentFinancialInstruments 2023-03-31 05160594 frs-core:ShareCapital 2023-03-31 05160594 frs-core:RetainedEarningsAccumulatedLosses 2023-03-31
Registered number: 05160594
Magnasoft Europe Ltd
Financial Statements
For The Year Ended 31 March 2024
BBK Partnership
Chartered Accountants & Statutory Auditors
1 Beauchamp Court
10 Victors Way
Barnet
Hertfordshire
EN5 5TZ
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—4
Page 1
Balance Sheet
Registered number: 05160594
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 1,254 2,540
1,254 2,540
CURRENT ASSETS
Debtors 5 1,332 184,982
Cash at bank and in hand 1,143 9,480
2,475 194,462
Creditors: Amounts Falling Due Within One Year 6 (124,639 ) (312,468 )
NET CURRENT ASSETS (LIABILITIES) (122,164 ) (118,006 )
TOTAL ASSETS LESS CURRENT LIABILITIES (120,910 ) (115,466 )
NET LIABILITIES (120,910 ) (115,466 )
CAPITAL AND RESERVES
Called up share capital 7 1,000 1,000
Profit and Loss Account (121,910 ) (116,466 )
SHAREHOLDERS' FUNDS (120,910) (115,466)
Page 1
Page 2
For the year ending 31 March 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 Harmit Kalra
Director
26/07/2024
The notes on pages 3 to 4 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Magnasoft Europe Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 05160594 . The registered office is 1 Beauchamp Court, 10 Victors Way, Barnet, Hertfordshire, EN5 5TZ.
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. 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 33.33% on cost
3. Average Number of Employees
Average number of employees, including directors, during the year was: NIL (2023: NIL)
- -
4. Tangible Assets
Computer Equipment
£
Cost
As at 1 April 2023 3,676
As at 31 March 2024 3,676
Depreciation
As at 1 April 2023 1,136
Provided during the period 1,286
As at 31 March 2024 2,422
Net Book Value
As at 31 March 2024 1,254
As at 1 April 2023 2,540
5. Debtors
2024 2023
£ £
Due within one year
Other debtors 1,332 184,982
Page 3
Page 4
6. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 269 -
Amounts owed to participating interests 124,370 312,198
Other creditors - 270
124,639 312,468
7. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 1,000 1,000
Page 4