Acorah Software Products - Accounts Production 15.0.600 false true true 28 February 2022 1 March 2021 false 1 March 2022 28 February 2023 28 February 2023 11213853 Mr Dev Kala Sethupathy Mrs Saranya Krishnasamy iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 11213853 2022-02-28 11213853 2023-02-28 11213853 2022-03-01 2023-02-28 11213853 frs-core:CurrentFinancialInstruments 2023-02-28 11213853 frs-core:Non-currentFinancialInstruments 2023-02-28 11213853 frs-core:FurnitureFittings 2023-02-28 11213853 frs-core:FurnitureFittings 2022-03-01 2023-02-28 11213853 frs-core:FurnitureFittings 2022-02-28 11213853 frs-core:InvestmentPropertyIncludedWithinPPE 2023-02-28 11213853 frs-core:InvestmentPropertyIncludedWithinPPE 2022-02-28 11213853 frs-core:ShareCapital 2023-02-28 11213853 frs-core:RetainedEarningsAccumulatedLosses 2023-02-28 11213853 frs-bus:PrivateLimitedCompanyLtd 2022-03-01 2023-02-28 11213853 frs-bus:FilletedAccounts 2022-03-01 2023-02-28 11213853 frs-bus:SmallEntities 2022-03-01 2023-02-28 11213853 frs-bus:AuditExempt-NoAccountantsReport 2022-03-01 2023-02-28 11213853 frs-bus:SmallCompaniesRegimeForAccounts 2022-03-01 2023-02-28 11213853 frs-bus:Director1 2022-03-01 2023-02-28 11213853 frs-bus:Director2 2022-03-01 2023-02-28 11213853 frs-countries:EnglandWales 2022-03-01 2023-02-28 11213853 2021-02-28 11213853 2022-02-28 11213853 2021-03-01 2022-02-28 11213853 frs-core:CurrentFinancialInstruments 2022-02-28 11213853 frs-core:Non-currentFinancialInstruments 2022-02-28 11213853 frs-core:ShareCapital 2022-02-28 11213853 frs-core:RetainedEarningsAccumulatedLosses 2022-02-28
Registered number: 11213853
Aadhvick Ltd
Unaudited Financial Statements
For The Year Ended 28 February 2023
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—4
Page 1
Balance Sheet
Registered number: 11213853
2023 2022
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 637,500 810,000
637,500 810,000
CURRENT ASSETS
Debtors 5 100 289
Cash at bank and in hand 11,803 13,111
11,903 13,400
Creditors: Amounts Falling Due Within One Year 6 (215,435 ) (216,012 )
NET CURRENT ASSETS (LIABILITIES) (203,532 ) (202,612 )
TOTAL ASSETS LESS CURRENT LIABILITIES 433,968 607,388
Creditors: Amounts Falling Due After More Than One Year 7 (502,568 ) (512,506 )
PROVISIONS FOR LIABILITIES
Deferred Taxation - (26,926 )
NET (LIABILITIES)/ASSETS (68,600 ) 67,956
CAPITAL AND RESERVES
Called up share capital 9 100 100
Profit and Loss Account (68,700 ) 67,856
SHAREHOLDERS' FUNDS (68,600) 67,956
Page 1
Page 2
For the year ending 28 February 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
Mr Dev Kala Sethupathy
Director
29/08/2024
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
Aadhvick Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 11213853 . The registered office is 1 Derwent Business Centre, Clarke Street, Derby, DE1 2BU.
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.
The financial statements have been prepared on a going concern basis. The company's ongoing activities are dependent upon the continued support of the director's who have undertaken to provide such support for the foreseeable future.
If the going concern basis were not appropriate, adjustments would have to be made to reduce the value of assets to their recoverable amount, to provide for any further liabilities that may arise and to reclassify fixed assets as current assets and long term liabilities as current liabilities.
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:
Fixtures & Fittings 25% Straight Line
2.4. Investment Properties
All investment properties are carried at fair value determined annually and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided for. Changes in fair value are recognised in the profit and loss account.
2.5. Registrar Filing Requirements
The company has taken advantage of Companies Act 2006 section 444(1) and opted not to file the profit and loss account, directors report, and notes to the financial statements relating to the profit and loss account.
3. Average Number of Employees
Average number of employees, including directors, during the year was:
2023 2022
Office and administration 2 2
2 2
4. Tangible Assets
Investment Properties Fixtures & Fittings Total
£ £ £
Cost or Valuation
As at 1 March 2022 810,000 9,882 819,882
Revaluation (172,500) - (172,500 )
As at 28 February 2023 637,500 9,882 647,382
Depreciation
As at 1 March 2022 - 9,882 9,882
As at 28 February 2023 - 9,882 9,882
...CONTINUED
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Net Book Value
As at 28 February 2023 637,500 - 637,500
As at 1 March 2022 810,000 - 810,000
5. Debtors
2023 2022
£ £
Due within one year
Prepayments and accrued income - 189
Other debtors 100 100
100 289
6. Creditors: Amounts Falling Due Within One Year
2023 2022
£ £
Bank loans and overdrafts 9,938 9,702
Corporation tax 1,018 886
Other creditors 106,265 105,905
Accruals and deferred income - 1,310
Directors' loan accounts 98,214 98,209
215,435 216,012
7. Creditors: Amounts Falling Due After More Than One Year
2023 2022
£ £
Bank loans 502,568 512,506
8. Secured Creditors
Of the creditors falling due after more than one year the following amount is secured by a fixed charge over the investment property. The mortgage is interest only with a term of 25 years.
2023 2022
£ £
Bank loans and overdrafts 478,430 478,430
9. Share Capital
2023 2022
£ £
Allotted, Called up and fully paid 100 100
10. Related Party Transactions
At 28th February 2023 Aadhvick Ltd owed £105,112 (2022 - £102,759) to Axion IT Services Limited, a company in which Mr Dev Kala Sethupathy is a director and shareholder. Interest is payable at 2.5% per annum and the capital amount is repayable on demand.
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