Acorah Software Products - Accounts Production 15.0.600 false true 31 March 2023 1 April 2022 false 1 April 2023 31 March 2024 31 March 2024 08162807 D A Powell S V Powell iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 08162807 2023-03-31 08162807 2024-03-31 08162807 2023-04-01 2024-03-31 08162807 frs-core:CurrentFinancialInstruments 2024-03-31 08162807 frs-core:LandBuildings frs-core:OwnedOrFreeholdAssets 2024-03-31 08162807 frs-core:LandBuildings frs-core:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 08162807 frs-core:LandBuildings frs-core:OwnedOrFreeholdAssets 2023-03-31 08162807 frs-core:RevaluationReserve 2023-03-31 08162807 frs-core:RevaluationReserve 2024-03-31 08162807 frs-core:ShareCapital 2024-03-31 08162807 frs-core:RetainedEarningsAccumulatedLosses 2024-03-31 08162807 frs-bus:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 08162807 frs-bus:FilletedAccounts 2023-04-01 2024-03-31 08162807 frs-bus:SmallEntities 2023-04-01 2024-03-31 08162807 frs-bus:AuditExempt-NoAccountantsReport 2023-04-01 2024-03-31 08162807 frs-bus:SmallCompaniesRegimeForAccounts 2023-04-01 2024-03-31 08162807 frs-core:CostValuation 2023-03-31 08162807 frs-core:CostValuation 2024-03-31 08162807 frs-core:ProvisionsForImpairmentInvestments 2023-03-31 08162807 frs-core:ProvisionsForImpairmentInvestments 2024-03-31 08162807 frs-bus:Director1 2023-04-01 2024-03-31 08162807 frs-bus:Director2 2023-04-01 2024-03-31 08162807 frs-countries:EnglandWales 2023-04-01 2024-03-31 08162807 2022-03-31 08162807 2023-03-31 08162807 2022-04-01 2023-03-31 08162807 frs-core:CurrentFinancialInstruments 2023-03-31 08162807 frs-core:RevaluationReserve 2023-03-31 08162807 frs-core:ShareCapital 2023-03-31 08162807 frs-core:RetainedEarningsAccumulatedLosses 2023-03-31
Registered number: 08162807
Mach 7-7 Group Ltd
Unaudited Financial Statements
For The Year Ended 31 March 2024
Unity Accountancy Ltd
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—4
Page 1
Balance Sheet
Registered number: 08162807
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 250,000 250,000
Investments 5 12,002 12,002
262,002 262,002
CURRENT ASSETS
Debtors 6 15,847 16,087
Cash at bank and in hand 51,320 33,332
67,167 49,419
Creditors: Amounts Falling Due Within One Year 7 (10,046 ) (7,413 )
NET CURRENT ASSETS (LIABILITIES) 57,121 42,006
TOTAL ASSETS LESS CURRENT LIABILITIES 319,123 304,008
NET ASSETS 319,123 304,008
CAPITAL AND RESERVES
Called up share capital 8 12,000 12,000
Revaluation reserve 9 98,574 98,574
Profit and Loss Account 208,549 193,434
SHAREHOLDERS' FUNDS 319,123 304,008
Page 1
Page 2
For the year ending 31 March 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
D A Powell
Director
8th July 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
Mach 7-7 Group Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 08162807 . The registered office is Marshfield Road, Village Farm Industrial Estate, Pyle, Bridgend, Mid Glamorgan, CF33 6RP.
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. 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:
Freehold Revaluation
2.3. 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: 3 (2023: 3)
3 3
4. Tangible Assets
Land & Property
Freehold
£
Cost
As at 1 April 2023 250,000
As at 31 March 2024 250,000
Net Book Value
As at 31 March 2024 250,000
As at 1 April 2023 250,000
Page 3
Page 4
5. Investments
Subsidiaries
£
Cost
As at 1 April 2023 12,002
As at 31 March 2024 12,002
Provision
As at 1 April 2023 -
As at 31 March 2024 -
Net Book Value
As at 31 March 2024 12,002
As at 1 April 2023 12,002
6. Debtors
2024 2023
£ £
Due within one year
Trade debtors - 240
Prepayments and accrued income (200 ) (200 )
Directors' loan accounts 9,175 9,175
Amounts owed by group undertakings 6,872 6,872
15,847 16,087
7. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 40 181
Corporation tax 5,006 2,203
Other taxes and social security - 29
Other creditors 5,000 5,000
10,046 7,413
8. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 12,000 12,000
9. Reserves
Revaluation Reserve
£
As at 1 April 2023 98,574
As at 31 March 2024 98,574
Page 4