Acorah Software Products - Accounts Production 15.0.400 false true true 31 December 2022 1 January 2021 false 1 January 2023 31 December 2023 31 December 2023 12375174 Mr C Preda iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 12375174 2022-12-31 12375174 2023-12-31 12375174 2023-01-01 2023-12-31 12375174 frs-core:FurnitureFittings 2023-12-31 12375174 frs-core:FurnitureFittings 2023-01-01 2023-12-31 12375174 frs-core:FurnitureFittings 2022-12-31 12375174 frs-core:ShareCapital 2023-12-31 12375174 frs-core:RetainedEarningsAccumulatedLosses 2023-12-31 12375174 frs-bus:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 12375174 frs-bus:FilletedAccounts 2023-01-01 2023-12-31 12375174 frs-bus:SmallEntities 2023-01-01 2023-12-31 12375174 frs-bus:AuditExempt-NoAccountantsReport 2023-01-01 2023-12-31 12375174 frs-bus:SmallCompaniesRegimeForAccounts 2023-01-01 2023-12-31 12375174 frs-bus:Director1 2023-01-01 2023-12-31 12375174 frs-countries:EnglandWales 2023-01-01 2023-12-31 12375174 2020-12-31 12375174 2022-12-31 12375174 2021-01-01 2022-12-31 12375174 frs-core:CurrentFinancialInstruments 2022-12-31 12375174 frs-core:ShareCapital 2022-12-31 12375174 frs-core:RetainedEarningsAccumulatedLosses 2022-12-31
Registered number: 12375174
Prefit Ltd
Unaudited Financial Statements
For The Year Ended 31 December 2023
RWB CA Limited
Northgate House
North Gate
New Basford
Nottingham
NG7 7BQ
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 12375174
31 December 2023 31 December 2022
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 5 8,016 8,728
8,016 8,728
CURRENT ASSETS
Debtors 6 2,539 4,114
Cash at bank and in hand 1,027 1,958
3,566 6,072
Creditors: Amounts Falling Due Within One Year 7 (1,686 ) (420 )
NET CURRENT ASSETS (LIABILITIES) 1,880 5,652
TOTAL ASSETS LESS CURRENT LIABILITIES 9,896 14,380
PROVISIONS FOR LIABILITIES
Deferred Taxation (1,523 ) (1,658 )
NET ASSETS 8,373 12,722
CAPITAL AND RESERVES
Called up share capital 8 100 100
Profit and Loss Account 8,273 12,622
SHAREHOLDERS' FUNDS 8,373 12,722
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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 member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his 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 C Preda
Director
06/09/2024
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
The company is a private company limited by share capital, incorporated in England and Wales.
The address of its registered office is:
Northgate House
North Gate
New Basford
Nottingham
NG7 7BQ
These financial statements were authorised for issue by the director on ...........   .
2. Statement of Compliance
The financial statements have been prepared 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.
3. Accounting Policies
3.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention.
3.2. Going Concern Disclosure
The financial statements have been prepared on a going concern basis.
3.3. Significant judgements and estimations
The principal accounting policies applied in the preparation of these financial statements are set out below.
These policies have been consistently applied to all the years presented, unless otherwise stated.
3.4. Turnover
Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision
of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax,
returns, rebates and discounts.
The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.
3.5. 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 33.33%
3.6. 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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3.7. 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.
3.8. Cash and cash equivalents
Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid
investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of
change in value
3.9. Trade debtors
Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary
course of business.
Trade debtors are recognised initially at the transaction price. A provision for the impairment of trade debtors is
established when there is objective evidence that the company will not be able to collect all amounts due
according to the original terms of the receivables.
3.10. Trade creditors
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of
business from suppliers. Accounts payable are classified as current liabilities if the company does not have an
unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve
months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months
after the reporting date, they are presented as non-current liabilities.
Trade creditors are recognised initially at the transaction price.
2.11. Share capital
Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other
resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred
and the time value of money is material, the initial measurement is on a present value basis.
2.12. Dividends
Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the
reporting period in which the dividends are declared.
4. Average Number of Employees
Average number of employees, including directors, during the year was: 1 (2022: 1)
1 1
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5. Tangible Assets
Fixtures & Fittings
£
Cost
As at 1 January 2023 15,204
Additions 5,311
Disposals (2,066 )
As at 31 December 2023 18,449
Depreciation
As at 1 January 2023 6,476
Provided during the period 6,023
Disposals (2,066 )
As at 31 December 2023 10,433
Net Book Value
As at 31 December 2023 8,016
As at 1 January 2023 8,728
6. Debtors
31 December 2023 31 December 2022
£ £
Due within one year
Other debtors 2,539 4,114
7. Creditors: Amounts Falling Due Within One Year
31 December 2023 31 December 2022
£ £
Other creditors 1,686 1,238
Taxation and social security - (818 )
1,686 420
8. Share Capital
31 December 2023 31 December 2022
£ £
Allotted, Called up and fully paid 100 100
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