Acorah Software Products - Accounts Production 15.0.600 false true 31 July 2022 1 August 2021 false 1 August 2022 31 July 2023 31 July 2023 12764019 Mr George Mouktaris Mr Anastasis Mouktaris Miss Stavrini Mouktari iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 12764019 2022-07-31 12764019 2023-07-31 12764019 2022-08-01 2023-07-31 12764019 frs-core:CurrentFinancialInstruments 2023-07-31 12764019 frs-core:Non-currentFinancialInstruments 2023-07-31 12764019 frs-core:ComputerEquipment 2023-07-31 12764019 frs-core:ComputerEquipment 2022-08-01 2023-07-31 12764019 frs-core:ComputerEquipment 2022-07-31 12764019 frs-core:FurnitureFittings 2023-07-31 12764019 frs-core:FurnitureFittings 2022-08-01 2023-07-31 12764019 frs-core:FurnitureFittings 2022-07-31 12764019 frs-core:NetGoodwill 2023-07-31 12764019 frs-core:NetGoodwill 2022-08-01 2023-07-31 12764019 frs-core:NetGoodwill 2022-07-31 12764019 frs-core:MotorVehicles 2023-07-31 12764019 frs-core:MotorVehicles 2022-08-01 2023-07-31 12764019 frs-core:MotorVehicles 2022-07-31 12764019 frs-core:SharePremium 2023-07-31 12764019 frs-core:ShareCapital 2023-07-31 12764019 frs-core:RetainedEarningsAccumulatedLosses 2022-08-01 2023-07-31 12764019 frs-core:RetainedEarningsAccumulatedLosses 2023-07-31 12764019 frs-bus:PrivateLimitedCompanyLtd 2022-08-01 2023-07-31 12764019 frs-bus:FilletedAccounts 2022-08-01 2023-07-31 12764019 frs-bus:SmallEntities 2022-08-01 2023-07-31 12764019 frs-bus:AuditExempt-NoAccountantsReport 2022-08-01 2023-07-31 12764019 frs-bus:SmallCompaniesRegimeForAccounts 2022-08-01 2023-07-31 12764019 frs-bus:Director1 2022-08-01 2023-07-31 12764019 frs-bus:Director2 2022-08-01 2023-07-31 12764019 frs-bus:CompanySecretary1 2022-08-01 2023-07-31 12764019 frs-core:CurrentFinancialInstruments 2 2023-07-31 12764019 frs-countries:EnglandWales 2022-08-01 2023-07-31 12764019 2021-07-31 12764019 2022-07-31 12764019 2021-08-01 2022-07-31 12764019 frs-core:CurrentFinancialInstruments 2022-07-31 12764019 frs-core:Non-currentFinancialInstruments 2022-07-31 12764019 frs-core:SharePremium 2021-07-31 12764019 frs-core:SharePremium 2022-07-31 12764019 frs-core:ShareCapital 2021-07-31 12764019 frs-core:ShareCapital 2022-07-31 12764019 frs-core:RetainedEarningsAccumulatedLosses 2021-08-01 2022-07-31 12764019 frs-core:RetainedEarningsAccumulatedLosses frs-core:PreviouslyStatedAmount 2021-07-31 12764019 frs-core:RetainedEarningsAccumulatedLosses 2022-07-31 12764019 frs-core:CurrentFinancialInstruments 2 2022-07-31
Registered number: 12764019
Mouktaris & Co Ltd
Unaudited Financial Statements
For The Year Ended 31 July 2023
Mouktaris & Co Ltd
Chartered Accountants & Registered Auditors
156a Burnt Oak Broadway
Edgware
Middlesex
HA8 0AX
Unaudited Financial Statements
Contents
Page
Statement of Financial Position 1—2
Statement of Changes in Equity 3
Notes to the Financial Statements 4—6
Page 1
Statement of Financial Position
Registered number: 12764019
2023 2022
Notes £ £ £ £
FIXED ASSETS
Intangible Assets 4 600,000 -
Tangible Assets 5 45,865 -
645,865 -
CURRENT ASSETS
Stocks and Work in Progress 6 80,600 -
Debtors 7 177,933 2,635
Cash at bank and in hand 61,809 24,195
320,342 26,830
Creditors: Amounts Falling Due Within One Year 8 (360,036 ) (19,159 )
NET CURRENT ASSETS (LIABILITIES) (39,694 ) 7,671
TOTAL ASSETS LESS CURRENT LIABILITIES 606,171 7,671
Creditors: Amounts Falling Due After More Than One Year 9 (29,079 ) -
NET ASSETS 577,092 7,671
CAPITAL AND RESERVES
Called up share capital 10 2,000 1,000
Share premium account 557,602 -
Income Statement 17,490 6,671
SHAREHOLDERS' FUNDS 577,092 7,671
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For the year ending 31 July 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 Income Statement.
On behalf of the board
Mr George Mouktaris
Director
16 September 2024
The notes on pages 4 to 6 form part of these financial statements.
Page 2
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Statement of Changes in Equity
Share Capital Share Premium Income Statement Total
£ £ £ £
As at 1 August 2021 1,000 - 2,549 3,549
Profit for the year and total comprehensive income - - 4,122 4,122
As at 31 July 2022 and 1 August 2022 1,000 - 6,671 7,671
Profit for the year and total comprehensive income - - 20,819 20,819
Dividends paid - - (10,000) (10,000)
Arising on shares issued during the period 1,000 557,602 - 558,602
As at 31 July 2023 2,000 557,602 17,490 577,092
During the year the company acquired the business, assets and liabilities including goodwill, of Mouktaris & Co at market value, in the course of a transfer of going concern, with the purchase consideration being satisfied by the issue of 1,000 £1 ordinary shares at a premium of £557,602.
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Notes to the Financial Statements
1. General Information
Mouktaris & Co Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 12764019 . The registered office is 156a Burnt Oak Broadway, Edgware, Middlesex, HA8 0AX.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements are prepared under the historical cost convention and in accordance with the FRS 102 Section 1A Small Entities - The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006. The financial statements are prepared in sterling, which is the functional currency of the entity.
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; the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably. 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. 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 income statement over its estimated economic life, although since Goodwill was acquired in the current year no amortisation has been provided for.
2.4. 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:
Motor Vehicles 25% on Written down value
Fixtures & Fittings 25% on Written down value
Computer Equipment 25% on Written down value
2.5. Stocks and Work in Progress
Stocks and Work in Progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work in Progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
2.6. Foreign Currencies
Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the statement of financial position 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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2.7. Taxation
The tax expense represents the sum of the corporation 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 year 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 asset reflects 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: 8 (2022: 2)
8 2
4. Intangible Assets
Goodwill
£
Cost
As at 1 August 2022 -
Additions 600,000
As at 31 July 2023 600,000
Net Book Value
As at 31 July 2023 600,000
As at 1 August 2022 -
5. Tangible Assets
Motor Vehicles Fixtures & Fittings Computer Equipment Total
£ £ £ £
Cost
As at 1 August 2022 - - - -
Additions 2,329 24,826 21,833 48,988
As at 31 July 2023 2,329 24,826 21,833 48,988
Depreciation
As at 1 August 2022 - - - -
Provided during the period - 1,426 1,697 3,123
As at 31 July 2023 - 1,426 1,697 3,123
...CONTINUED
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Net Book Value
As at 31 July 2023 2,329 23,400 20,136 45,865
As at 1 August 2022 - - - -
6. Stocks and Work in Progress
2023 2022
£ £
Work in Progress 46,000 -
Work in Progress acquired 34,600 -
80,600 -
7. Debtors
2023 2022
£ £
Due within one year
Trade debtors 121,558 2,635
Prepayments and accrued income 1,488 -
Other debtors 54,887 -
177,933 2,635
8. Creditors: Amounts Falling Due Within One Year
2023 2022
£ £
Trade creditors 184,609 3,200
Corporation tax 2,573 967
Other taxes and social security 26,326 -
Customs and Excise - VAT 21,572 -
Other creditors 97,429 3,791
Credit cards balances 23,289 -
Accruals and deferred income 1,900 -
Directors' loan accounts 2,338 9,850
Amounts owed to other participating interests. - 1,351
360,036 19,159
9. Creditors: Amounts Falling Due After More Than One Year
2023 2022
£ £
Bank loans 29,079 -
29,079 -
10. Share Capital
2023 2022
£ £
Allotted, Called up and fully paid 2,000 1,000
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