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Registered number: 02610966
Cireri Holdings Limited
Unaudited Financial Statements
For The Year Ended 31 December 2023
Newtons Accountants Limited
Chartered Certified Accountants
470 Hucknall Road
Nottingham
Nottinghamshire
NG5 1FX
Unaudited Financial Statements
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 02610966
2023 2022
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 4,110 4,363
Investment Properties 5 1,380,000 1,380,000
1,384,110 1,384,363
CURRENT ASSETS
Debtors 6 26,750 16,264
Cash at bank and in hand 221,494 167,953
248,244 184,217
Creditors: Amounts Falling Due Within One Year 7 (88,735 ) (62,163 )
NET CURRENT ASSETS (LIABILITIES) 159,509 122,054
TOTAL ASSETS LESS CURRENT LIABILITIES 1,543,619 1,506,417
NET ASSETS 1,543,619 1,506,417
CAPITAL AND RESERVES
Called up share capital 8 20,020 20,020
Share premium account 603,720 603,720
Capital redemption reserve 5,660 5,660
Fair Value Reserve 678,989 678,989
Profit and Loss Account 235,230 198,028
SHAREHOLDERS' FUNDS 1,543,619 1,506,417
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Page 2
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 Carlo Orru
Director
19/09/2024
The notes on pages 3 to 5 form part of these financial statements.
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Notes to the Financial Statements
1. General Information
Cireri Holdings Limited is a private company, limited by shares, incorporated in England & Wales, registered number 02610966 . The registered office is 470 Hucknall Road, Nottingham, Nottinghamshire, NG5 1FX.
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. 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:
Plant & Machinery 10% Straight Line
Motor Vehicles 25% Reducing balance
Computer Equipment 33% 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.
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2.5. Taxation
The company's tax charge represents the sum of the corporation tax currently payable and deferred tax.
The corporation 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: 2 (2022: 2)
2 2
4. Tangible Assets
Plant & Machinery Motor Vehicles Computer Equipment Total
£ £ £ £
Cost
As at 1 January 2023 2,103 9,000 6,338 17,441
Additions 915 - 580 1,495
As at 31 December 2023 3,018 9,000 6,918 18,936
Depreciation
As at 1 January 2023 1,608 6,469 5,001 13,078
Provided during the period 265 633 850 1,748
As at 31 December 2023 1,873 7,102 5,851 14,826
Net Book Value
As at 31 December 2023 1,145 1,898 1,067 4,110
As at 1 January 2023 495 2,531 1,337 4,363
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5. Investment Property
2023
£
Fair Value
As at 1 January 2023 and 31 December 2023 1,380,000
Investment properties are carried at their market value at 31st December 2023 as estimated by the director.
6. Debtors
2023 2022
£ £
Due within one year
Trade debtors 20,375 10,141
Other debtors 6,375 6,123
26,750 16,264
7. Creditors: Amounts Falling Due Within One Year
2023 2022
£ £
Other creditors 36,046 40,454
Taxation and social security 52,689 21,709
88,735 62,163
8. Share Capital
2023 2022
£ £
Allotted, Called up and fully paid 20,020 20,020
All of called up share capital comprises ordinary £1 shares.
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