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Registered number: 05667252
Ryjen Electronics Ltd
Unaudited Financial Statements
For The Year Ended 31 January 2024
The Numbers Quarter Ltd
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—6
Page 1
Balance Sheet
Registered number: 05667252
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 59,018 4,481
59,018 4,481
CURRENT ASSETS
Stocks 5 23,272 20,498
Debtors 6 34,428 22,315
Cash at bank and in hand 176,324 144,764
234,024 187,577
Creditors: Amounts Falling Due Within One Year 7 (93,911 ) (38,669 )
NET CURRENT ASSETS (LIABILITIES) 140,113 148,908
TOTAL ASSETS LESS CURRENT LIABILITIES 199,131 153,389
Creditors: Amounts Falling Due After More Than One Year 8 (14,639 ) -
NET ASSETS 184,492 153,389
CAPITAL AND RESERVES
Called up share capital 10 2 2
Profit and Loss Account 184,490 153,387
SHAREHOLDERS' FUNDS 184,492 153,389
Page 1
Page 2
For the year ending 31 January 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
Mrs Laura Warner
Director
26/08/2024
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
Ryjen Electronics Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 05667252 . The registered office is 7 Bramble End, Sawtry, Huntingdon, Cambridgeshire, PE28 5QH.
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. 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.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Research and Development
During the year 2022-23, Ryjen continued to develop software to interface with an HGV transmission to try to develop a testing product. This involved visits to C&J transmissions to test the software. The RJ000142 PCB was also developed for an aftermarket power distribution system for a vehicle application-this involved designing, building and testing the reliability of 12 and 24V protected power circuits for power distribution.  Software was also developed to control the system and allow it to be interfaced with remotely-this also required software development for the embedded system, webserver and application, this was funded entirely by Ryjen.  Some of the testing was carried out at Noble Foods, Newark.
The RJ00136 PCB was developed for integration with the Permoid heated fuel tank, to improve the reliability and integration over the previous 2 PCB version-this allowed some improvements in reliability and functionality.  Ryjen developed this circuit board and the initial working software version with remote capability at our own cost.  A second version was also developed to overcome problems with the first version.  Some of this work was tested at C&J transmissions.
The RJ00134 PCB for an aftermarket application was designed and developed by Ryjen to improve dual fuel combustion emissions.  This consisted of a circuit board that was designed and developed at Ryjen cost to demonstrate that the product would work on a vehicle. 
All of the above work required purchase of electrical/electronic components, a webserver to allow remote interface and communication software to be hosted, travel to sites for testing on vehicles and electronic/electrical components from Ryjen stock for this work.
2.4. 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:
Plant & Machinery 25% on Reducing Balance Method
Motor Vehicles 10% on Reducing Balance Method
Fixtures & Fittings 25% on Reducing Balance Method
Computer Equipment 25% on Reducing Balance Method
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2.5. Leasing and Hire Purchase Contracts
Assets obtained under finance leases are capitalised as tangible fixed assets. Assets acquired under finance leases are depreciated over the shorter of the lease term and their useful lives. Assets acquired under hire purchase contracts are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in the creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.

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 as incurred.
2.6. Stocks and Work in Progress
Stocks and work in progress 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. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
2.7. 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: 2 (2023: 2)
2 2
4. Tangible Assets
Plant & Machinery Motor Vehicles Fixtures & Fittings Computer Equipment Total
£ £ £ £ £
Cost
As at 1 February 2023 10,268 - 23,877 4,329 38,474
Additions 491 60,849 - 140 61,480
As at 31 January 2024 10,759 60,849 23,877 4,469 99,954
Depreciation
As at 1 February 2023 9,957 - 22,959 1,077 33,993
Provided during the period 201 6,079 177 486 6,943
As at 31 January 2024 10,158 6,079 23,136 1,563 40,936
...CONTINUED
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Net Book Value
As at 31 January 2024 601 54,770 741 2,906 59,018
As at 1 February 2023 311 - 918 3,252 4,481
5. Stocks
2024 2023
£ £
Stock 23,272 -
Finished goods - 20,498
23,272 20,498
6. Debtors
2024 2023
£ £
Due within one year
Trade debtors 33,840 21,227
Amounts recoverable on contracts 588 588
Prepayments and accrued income - 500
34,428 22,315
7. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Net obligations under finance lease and hire purchase contracts 10,315 -
Corporation tax 24,836 3,275
VAT 16,466 6,386
Accruals and deferred income 1,290 935
Directors' loan accounts 41,004 28,073
93,911 38,669
8. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Net obligations under finance lease and hire purchase contracts 14,639 -
9. Obligations Under Finance Leases and Hire Purchase
2024 2023
£ £
The future minimum finance lease payments are as follows:
Not later than one year 10,315 -
Later than one year and not later than five years 14,639 -
24,954 -
24,954 -
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10. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 2 2
Page 6