Acorah Software Products - Accounts Production 15.0.600 false true true false 19 December 2022 31 May 2024 31 May 2024 14547498 J Warrington M S Baxter K C Conroy J F Nowak true iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 14547498 2022-12-18 14547498 2024-05-31 14547498 2022-12-19 2024-05-31 14547498 frs-core:CurrentFinancialInstruments 2024-05-31 14547498 frs-core:Non-currentFinancialInstruments 2024-05-31 14547498 frs-core:NetGoodwill 2024-05-31 14547498 frs-core:NetGoodwill 2022-12-19 2024-05-31 14547498 frs-core:NetGoodwill 2022-12-18 14547498 frs-core:ShareCapital 2024-05-31 14547498 frs-core:RetainedEarningsAccumulatedLosses 2024-05-31 14547498 frs-bus:PrivateLimitedCompanyLtd 2022-12-19 2024-05-31 14547498 frs-bus:FilletedAccounts 2022-12-19 2024-05-31 14547498 frs-bus:SmallEntities 2022-12-19 2024-05-31 14547498 frs-bus:AuditExempt-NoAccountantsReport 2022-12-19 2024-05-31 14547498 frs-bus:SmallCompaniesRegimeForAccounts 2022-12-19 2024-05-31 14547498 1 2022-12-19 2024-05-31 14547498 frs-bus:Director1 2022-12-19 2024-05-31 14547498 frs-bus:Director2 2022-12-19 2024-05-31 14547498 frs-bus:Director3 2022-12-19 2024-05-31 14547498 frs-bus:Director4 2022-12-19 2024-05-31 14547498 frs-countries:EnglandWales 2022-12-19 2024-05-31
Registered number: 14547498
Krafty Entertainment Limited
Unaudited Financial Statements
For the Period 19 December 2022 to 31 May 2024
A K E Tax & Accountancy Ltd
Chartered Certified Accountants
Hoddesdon Enterprise Centre
Pindar Road
Hoddesdon
Hertfordshire
EN11 0FJ
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—4
Page 1
Balance Sheet
Registered number: 14547498
31 May 2024
Notes £ £
FIXED ASSETS
Intangible Assets 4 370,000
370,000
CURRENT ASSETS
Debtors 5 93,734
Cash at bank and in hand 3,515
97,249
Creditors: Amounts Falling Due Within One Year 6 (110,685 )
NET CURRENT ASSETS (LIABILITIES) (13,436 )
TOTAL ASSETS LESS CURRENT LIABILITIES 356,564
Creditors: Amounts Falling Due After More Than One Year 7 (402,804 )
NET LIABILITIES (46,240 )
CAPITAL AND RESERVES
Called up share capital 8 1,000
Profit and Loss Account (47,240 )
SHAREHOLDERS' FUNDS (46,240)
Page 1
Page 2
For the period ending 31 May 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
J Warrington
Director
11 September 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
Krafty Entertainment Limited is a private company, limited by shares, incorporated in England & Wales, registered number 14547498 . The registered office is 71-75 Shelton Street, Covent Garden, London, WC2H 9JQ.
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 considered the foreseeable future and are of the opinion that the company is a going concern, and has their support, as outlined in the Directors Report
2.3. 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 rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
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.
2.4. Intangible Fixed Assets and Amortisation - Goodwill
Goodwill is the difference between amounts paid on the acquisition of a business and the fair value of the separable net assets. It is amortised to profit and loss account over its estimated economic life of 10 years.
2.5. Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts
2.6. Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method. 
3. Average Number of Employees
Average number of employees, including directors, during the period was: 4
4
4. Intangible Assets
Goodwill
£
Cost
As at 19 December 2022 -
Additions 400,000
As at 31 May 2024 400,000
Amortisation
As at 19 December 2022 -
Provided during the period 30,000
As at 31 May 2024 30,000
...CONTINUED
Page 3
Page 4
Net Book Value
As at 31 May 2024 370,000
As at 19 December 2022 -
5. Debtors
31 May 2024
£
Due within one year
Trade debtors 7,197
Other debtors 86,537
93,734
6. Creditors: Amounts Falling Due Within One Year
31 May 2024
£
Trade creditors 98,484
Bank loans and overdrafts 991
Other creditors 11,210
110,685
7. Creditors: Amounts Falling Due After More Than One Year
31 May 2024
£
Other creditors 402,804
8. Share Capital
31 May 2024
£
Allotted, Called up and fully paid 1,000
9. Related Party Transactions
J Warrington 
The above is a related party by virtue of being a director.
At the balance sheet date, the director was owed £402,804 by the company.
No interest is being charged on this loan
R Jukes
The above is a related party by virtue of being a shareholder.
During the year, Andromedia Ltd, a company R Jukes is a Director of, has charged at arm’s length £1,539 for consultancy 
A Evangelou
The above is a related party by virtue of being a shareholder.
During the year A K E Tax & Accountancy Ltd, a company A Evangelou is a Director of, has charged at arm’s length £6,240 for accountancy services.
10. Ultimate Controlling Party
The company is controlled by its Directors
Page 4