Acorah Software Products - Accounts Production 15.0.600 false true 30 November 2022 1 December 2021 false 1 December 2022 30 November 2023 30 November 2023 11664450 Mr Siju Jacob Mrs Reni Jacob iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 11664450 2022-11-30 11664450 2023-11-30 11664450 2022-12-01 2023-11-30 11664450 frs-core:CurrentFinancialInstruments 2023-11-30 11664450 frs-core:Non-currentFinancialInstruments 2023-11-30 11664450 frs-core:DevelopmentCostsCapitalisedDevelopmentExpenditure 2023-11-30 11664450 frs-core:DevelopmentCostsCapitalisedDevelopmentExpenditure 2022-12-01 2023-11-30 11664450 frs-core:DevelopmentCostsCapitalisedDevelopmentExpenditure 2022-11-30 11664450 frs-core:ShareCapital 2023-11-30 11664450 frs-core:RetainedEarningsAccumulatedLosses 2023-11-30 11664450 frs-bus:PrivateLimitedCompanyLtd 2022-12-01 2023-11-30 11664450 frs-bus:FilletedAccounts 2022-12-01 2023-11-30 11664450 frs-bus:SmallEntities 2022-12-01 2023-11-30 11664450 frs-bus:AuditExempt-NoAccountantsReport 2022-12-01 2023-11-30 11664450 frs-bus:SmallCompaniesRegimeForAccounts 2022-12-01 2023-11-30 11664450 frs-bus:Director1 2022-12-01 2023-11-30 11664450 frs-bus:Director2 2022-12-01 2023-11-30 11664450 frs-countries:EnglandWales 2022-12-01 2023-11-30 11664450 2021-11-30 11664450 2022-11-30 11664450 2021-12-01 2022-11-30 11664450 frs-core:CurrentFinancialInstruments 2022-11-30 11664450 frs-core:Non-currentFinancialInstruments 2022-11-30 11664450 frs-core:ShareCapital 2022-11-30 11664450 frs-core:RetainedEarningsAccumulatedLosses 2022-11-30
Registered number: 11664450
Sumo Optimus Ltd
Financial Statements
For The Year Ended 30 November 2023
Kenwright Accountants Ltd
A16
Champions Business Park
Arrowe Brook Road
Wirral
CH49 0AB
Financial Statements
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 11664450
2023 2022
Notes £ £ £ £
FIXED ASSETS
Intangible Assets 4 94,691 79,617
94,691 79,617
CURRENT ASSETS
Debtors 5 247,588 108,210
Cash at bank and in hand 960 78,471
248,548 186,681
Creditors: Amounts Falling Due Within One Year 6 (50,073 ) (116,283 )
NET CURRENT ASSETS (LIABILITIES) 198,475 70,398
TOTAL ASSETS LESS CURRENT LIABILITIES 293,166 150,015
Creditors: Amounts Falling Due After More Than One Year 7 (13,097 ) (22,969 )
NET ASSETS 280,069 127,046
CAPITAL AND RESERVES
Called up share capital 8 2 1
Profit and Loss Account 280,067 127,045
SHAREHOLDERS' FUNDS 280,069 127,046
Page 1
Page 2
For the year ending 30 November 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 Siju Jacob
Director
10th January 2024
The notes on pages 3 to 5 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Sumo Optimus Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 11664450 . The registered office is C3 Brookway, North Cheshire Trading Estate, Prenton, CH43 3DT.
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
In the research phase of an internal project it is not possible to demonstrate that the project will generate future economic benefits and hence all expenditure on research is recognised as an expense when it is incurred. Intangible assets are recognised from the development phase of a project if and only if certain specific criteria are met in order to demonstrate the asset will generate probable future economic benefits and that its cost can be reliably measured. The capitalised development costs are subsequently amortised to ... on a straight line basis over their expected useful economic lives, which range from ... to ... years.
If it is not possible to distinguish between the research phase and the development phase of an internal project the expenditure is treated as if it were all incurred in the research phase only.
Page 3
Page 4
2.4. 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: 63 (2022: 1)
63 1
4. Intangible Assets
Development Costs
£
Cost
As at 1 December 2022 113,821
Additions 38,747
As at 30 November 2023 152,568
Amortisation
As at 1 December 2022 34,204
Provided during the period 23,673
As at 30 November 2023 57,877
...CONTINUED
Page 4
Page 5
Net Book Value
As at 30 November 2023 94,691
As at 1 December 2022 79,617
5. Debtors
2023 2022
£ £
Due within one year
Other debtors 108,185 83,237
Other taxes and social security - 17,851
Directors' loan accounts 139,403 7,122
247,588 108,210
6. Creditors: Amounts Falling Due Within One Year
2023 2022
£ £
Trade creditors - 1,200
Bank loans and overdrafts 11,010 11,010
Corporation tax 37,396 11,125
Other taxes and social security 1,626 -
Net wages 1 -
Other creditors 40 92,948
50,073 116,283
7. Creditors: Amounts Falling Due After More Than One Year
2023 2022
£ £
Bank loans 13,097 22,969
13,097 22,969
8. Share Capital
2023 2022
£ £
Allotted, Called up and fully paid 2 1
Page 5