Acorah Software Products - Accounts Production 15.0.600 false true 31 December 2022 1 January 2022 false 1 January 2023 31 December 2023 31 December 2023 11542620 Ms Ling Ma Mr Shaobin Zhu iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 11542620 2022-12-31 11542620 2023-12-31 11542620 2023-01-01 2023-12-31 11542620 frs-core:CurrentFinancialInstruments 2023-12-31 11542620 frs-core:Non-currentFinancialInstruments 2023-12-31 11542620 frs-core:ComputerEquipment 2023-12-31 11542620 frs-core:ComputerEquipment 2023-01-01 2023-12-31 11542620 frs-core:ComputerEquipment 2022-12-31 11542620 frs-core:MotorVehicles 2023-12-31 11542620 frs-core:MotorVehicles 2023-01-01 2023-12-31 11542620 frs-core:MotorVehicles 2022-12-31 11542620 frs-core:PlantMachinery 2023-12-31 11542620 frs-core:PlantMachinery 2023-01-01 2023-12-31 11542620 frs-core:PlantMachinery 2022-12-31 11542620 frs-core:ShareCapital 2023-12-31 11542620 frs-core:RetainedEarningsAccumulatedLosses 2023-12-31 11542620 frs-bus:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 11542620 frs-bus:FilletedAccounts 2023-01-01 2023-12-31 11542620 frs-bus:SmallEntities 2023-01-01 2023-12-31 11542620 frs-bus:AuditExempt-NoAccountantsReport 2023-01-01 2023-12-31 11542620 frs-bus:SmallCompaniesRegimeForAccounts 2023-01-01 2023-12-31 11542620 frs-bus:Director1 2023-01-01 2023-12-31 11542620 frs-bus:Director2 2023-01-01 2023-12-31 11542620 frs-core:Non-currentFinancialInstruments 1 2023-12-31 11542620 frs-countries:EnglandWales 2023-01-01 2023-12-31 11542620 2021-12-31 11542620 2022-12-31 11542620 2022-01-01 2022-12-31 11542620 frs-core:CurrentFinancialInstruments 2022-12-31 11542620 frs-core:Non-currentFinancialInstruments 2022-12-31 11542620 frs-core:ShareCapital 2022-12-31 11542620 frs-core:RetainedEarningsAccumulatedLosses 2022-12-31 11542620 frs-core:Non-currentFinancialInstruments 1 2022-12-31
Registered number: 11542620
NANOFCM CO., LTD
Financial Statements
For The Year Ended 31 December 2023
Girlings & Co
Chartered Certified Accountants
11 High Street
Ruddington
Nottingham
NG11 6DT
Financial Statements
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 11542620
2023 2022
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 322,151 420,063
322,151 420,063
CURRENT ASSETS
Stocks 5 598,850 589,206
Debtors 6 987,122 1,265,149
Cash at bank and in hand 527,018 482,045
2,112,990 2,336,400
Creditors: Amounts Falling Due Within One Year 7 (1,339,382 ) (1,976,910 )
NET CURRENT ASSETS (LIABILITIES) 773,608 359,490
TOTAL ASSETS LESS CURRENT LIABILITIES 1,095,759 779,553
Creditors: Amounts Falling Due After More Than One Year 8 (292,104 ) (850 )
NET ASSETS 803,655 778,703
CAPITAL AND RESERVES
Called up share capital 9 200,000 200,000
Profit and Loss Account 603,655 578,703
SHAREHOLDERS' FUNDS 803,655 778,703
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For the year ending 31 December 2023 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
Ms Ling Ma
Director
4th September 2024
The notes on pages 3 to 5 form part of these financial statements.
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Notes to the Financial Statements
1. General Information
NANOFCM CO., LTD is a private company, limited by shares, incorporated in England & Wales, registered number 11542620 . The registered office is D6 Thane Road, Nottingham, Nottinghamshire, NG90 6BH.
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. 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 3 Year Straight Line
Motor Vehicles 5 Year Straight Line
Computer Equipment 3 Year Straight Line
2.4. 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.
2.5. 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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2.6. 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.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 13 (2022: 7)
13 7
4. Tangible Assets
Plant & Machinery Motor Vehicles Computer Equipment Total
£ £ £ £
Cost
As at 1 January 2023 6,175 492,037 8,734 506,946
Additions - - 3,072 3,072
As at 31 December 2023 6,175 492,037 11,806 510,018
Depreciation
As at 1 January 2023 6,014 74,903 5,966 86,883
Provided during the period 161 98,407 2,416 100,984
As at 31 December 2023 6,175 173,310 8,382 187,867
Net Book Value
As at 31 December 2023 - 318,727 3,424 322,151
As at 1 January 2023 161 417,134 2,768 420,063
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5. Stocks
2023 2022
£ £
Finished goods 598,850 589,206
6. Debtors
2023 2022
£ £
Due within one year
Trade debtors 798,751 1,148,800
Other debtors 188,371 116,349
987,122 1,265,149
7. Creditors: Amounts Falling Due Within One Year
2023 2022
£ £
Trade creditors 1,301,942 1,910,800
Bank loans and overdrafts 4,487 5,105
Other creditors 7,398 15,786
Taxation and social security 25,555 45,219
1,339,382 1,976,910
8. Creditors: Amounts Falling Due After More Than One Year
2023 2022
£ £
Unearned revenue-warranty 292,104 -
Directors loan account - 850
292,104 850
9. Share Capital
2023 2022
£ £
Allotted, Called up and fully paid 200,000 200,000
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