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 03864869 Mr Ismael Parekh Mr Imran Parekh Mr Glenn Bailey Parex Investments Limited false iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 03864869 2023-03-31 03864869 2024-03-31 03864869 2023-04-01 2024-03-31 03864869 frs-core:CurrentFinancialInstruments 2024-03-31 03864869 frs-core:ComputerEquipment 2024-03-31 03864869 frs-core:ComputerEquipment 2023-04-01 2024-03-31 03864869 frs-core:ComputerEquipment 2023-03-31 03864869 frs-core:ShareCapital 2024-03-31 03864869 frs-core:RetainedEarningsAccumulatedLosses 2024-03-31 03864869 frs-bus:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 03864869 frs-bus:FilletedAccounts 2023-04-01 2024-03-31 03864869 frs-bus:SmallEntities 2023-04-01 2024-03-31 03864869 frs-bus:AuditExempt-NoAccountantsReport 2023-04-01 2024-03-31 03864869 frs-bus:SmallCompaniesRegimeForAccounts 2023-04-01 2024-03-31 03864869 1 2023-04-01 2024-03-31 03864869 frs-core:UnlistedNon-exchangeTraded 2024-03-31 03864869 frs-core:UnlistedNon-exchangeTraded 2023-03-31 03864869 frs-core:CostValuation frs-core:UnlistedNon-exchangeTraded 2023-03-31 03864869 frs-core:CostValuation frs-core:UnlistedNon-exchangeTraded 2024-03-31 03864869 frs-core:ProvisionsForImpairmentInvestments frs-core:UnlistedNon-exchangeTraded 2023-03-31 03864869 frs-core:ProvisionsForImpairmentInvestments frs-core:UnlistedNon-exchangeTraded 2024-03-31 03864869 frs-bus:Director1 2023-04-01 2024-03-31 03864869 frs-bus:Director2 2023-04-01 2024-03-31 03864869 frs-bus:Director3 2023-04-01 2024-03-31 03864869 frs-countries:EnglandWales 2023-04-01 2024-03-31 03864869 2022-03-31 03864869 2023-03-31 03864869 2022-04-01 2023-03-31 03864869 frs-core:CurrentFinancialInstruments 2023-03-31 03864869 frs-core:ShareCapital 2023-03-31 03864869 frs-core:RetainedEarningsAccumulatedLosses 2023-03-31
Registered number: 03864869
Mediawide UK Limited
Unaudited Financial Statements
For The Year Ended 31 March 2024
Robert Powell
Chartered Accountants
Suite 12 Westgate House
Westgate Retail Park
Gloucester
GL1 2RU
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—4
Page 1
Balance Sheet
Registered number: 03864869
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 1,066 430
Investments 5 1,050 1,050
2,116 1,480
CURRENT ASSETS
Debtors 6 93,872 62,580
Cash at bank and in hand 59,760 75,611
153,632 138,191
Creditors: Amounts Falling Due Within One Year 7 (91,460 ) (75,781 )
NET CURRENT ASSETS (LIABILITIES) 62,172 62,410
TOTAL ASSETS LESS CURRENT LIABILITIES 64,288 63,890
NET ASSETS 64,288 63,890
CAPITAL AND RESERVES
Called up share capital 8 9,500 9,500
Profit and Loss Account 54,788 54,390
SHAREHOLDERS' FUNDS 64,288 63,890
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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 Ismael Parekh
Director
4 September 2024
The notes on pages 3 to 4 form part of these financial statements.
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Page 3
Notes to the Financial Statements
1. General Information
Mediawide UK Limited is a private company, limited by shares, incorporated in England & Wales, registered number 03864869 . The registered office is 167 Barton Street, Gloucester, GL1 4HT.
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:
Computer Equipment 33.33% of the cost
2.4. 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.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 3 (2023: 3)
3 3
4. Tangible Assets
Computer Equipment
£
Cost
As at 1 April 2023 1,290
Additions 1,600
As at 31 March 2024 2,890
Depreciation
As at 1 April 2023 860
Provided during the period 964
As at 31 March 2024 1,824
Net Book Value
As at 31 March 2024 1,066
As at 1 April 2023 430
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5. Investments
Unlisted
£
Cost
As at 1 April 2023 1,050
As at 31 March 2024 1,050
Provision
As at 1 April 2023 -
As at 31 March 2024 -
Net Book Value
As at 31 March 2024 1,050
As at 1 April 2023 1,050
The company owns 100% of the share capital of Mediawide Professional Services Pvt Ltd, a company incorporated in India.
The investment represents the cost of those shares. 
6. Debtors
2024 2023
£ £
Due within one year
Trade debtors 93,872 62,580
7. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 89,460 75,781
Accruals and deferred income 2,000 -
91,460 75,781
8. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 9,500 9,500
9. Controlling Party
The company's controlling party is Parex Investments Limited by virtue of its ownership of 80% of the issued share capital in the company.
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