Acorah Software Products - Accounts Production 15.0.600 false true 31 December 2022 1 January 2022 false 1 January 2023 31 December 2023 31 December 2023 05669953 Mr Karim Rashid Mrs Margaret Rashid Mr Karim Rashid true iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 05669953 2022-12-31 05669953 2023-12-31 05669953 2023-01-01 2023-12-31 05669953 frs-core:Non-currentFinancialInstruments 2023-12-31 05669953 frs-core:ComputerEquipment 2023-01-01 2023-12-31 05669953 frs-core:NetGoodwill 2023-01-01 2023-12-31 05669953 frs-core:LandBuildings frs-core:LeasedAssetsHeldAsLessee 2023-01-01 2023-12-31 05669953 frs-core:PlantMachinery 2023-01-01 2023-12-31 05669953 frs-core:ShareCapital 2023-12-31 05669953 frs-core:RetainedEarningsAccumulatedLosses 2023-12-31 05669953 frs-bus:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 05669953 frs-bus:AbridgedAccounts 2023-01-01 2023-12-31 05669953 frs-bus:SmallEntities 2023-01-01 2023-12-31 05669953 frs-bus:AuditExempt-NoAccountantsReport 2023-01-01 2023-12-31 05669953 frs-bus:SmallCompaniesRegimeForAccounts 2023-01-01 2023-12-31 05669953 1 2023-01-01 2023-12-31 05669953 frs-bus:Director1 2023-01-01 2023-12-31 05669953 frs-bus:Director1 2022-12-31 05669953 frs-bus:Director1 2023-12-31 05669953 frs-bus:CompanySecretary1 2023-01-01 2023-12-31 05669953 1 2023-01-01 2023-12-31 05669953 frs-countries:EnglandWales 2023-01-01 2023-12-31 05669953 2021-12-31 05669953 2022-12-31 05669953 2022-01-01 2022-12-31 05669953 frs-core:Non-currentFinancialInstruments 2022-12-31 05669953 frs-core:ShareCapital 2022-12-31 05669953 frs-core:RetainedEarningsAccumulatedLosses 2022-12-31 05669953 1 2022-01-01 2022-12-31
Registered number: 05669953
Winbank Ltd
Unaudited ABRIDGED Financial Statements
For The Year Ended 31 December 2023
PPR Associates Ltd
77/77a High Street
South Normanton
Alfreton
Derbyshire
DE55 2BP
Contents
Page
Abridged Balance Sheet 1—2
Notes to the Abridged Financial Statements 3—5
Page 1
Abridged Balance Sheet
Registered number: 05669953
2023 2022
Notes £ £ £ £
FIXED ASSETS
Intangible Assets 4 486,122 486,122
Tangible Assets 5 70,092 77,851
556,214 563,973
CURRENT ASSETS
Stocks 141,338 153,694
Debtors 186,438 193,039
Cash at bank and in hand 133,194 41,573
460,970 388,306
Creditors: Amounts Falling Due Within One Year (233,650 ) (228,822 )
NET CURRENT ASSETS (LIABILITIES) 227,320 159,484
TOTAL ASSETS LESS CURRENT LIABILITIES 783,534 723,457
Creditors: Amounts Falling Due After More Than One Year (16,796 ) (26,625 )
PROVISIONS FOR LIABILITIES
Deferred Taxation 7 (17,523 ) (13,592 )
NET ASSETS 749,215 683,240
CAPITAL AND RESERVES
Called up share capital 8 100 100
Profit and Loss Account 749,115 683,140
SHAREHOLDERS' FUNDS 749,215 683,240
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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.
All of the company's members have consented to the preparation of an Abridged Balance Sheet for the year end 31 December 2023 in accordance with section 444(2A) of the Companies Act 2006.
On behalf of the board
Mr Karim Rashid
Director
9th September 2024
The notes on pages 3 to 5 form part of these financial statements.
Page 2
Page 3
Notes to the Abridged Financial Statements
1. General Information
Winbank Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 05669953 . The registered office is 10 Beaumaris Grove, Shenley Church End, Milton Keynes, Bucks, MK5 6EN.
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.
2.3. Intangible Fixed Assets and Amortisation - Goodwill
Positive goodwill is capitalised, classified as an asset on the balance sheet and amortised on a straight line basis over its useful economic life. It is reviewed for impairment at the end of the first full financial year following the acquisition and in other periods if events or changes in circumstances indicate that the carrying value may not be recoverable.

Amortisation
Goodwill, being the amount paid in connection with the acquisition of the company in 2006, is being amortised on a straight line basis over its estimated useful life of nil years.
2.4. Tangible Fixed Assets and Depreciation
Tangible fixed assets are stated at cost less depreciation. 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:
Leasehold 0% on reducing balance
Plant & Machinery 15% on reducing balance
Computer Equipment 15% on reducing balance
2.5. Stocks and Work in Progress
Stock is valued at the lower of cost and net realisable value, after due regard for obsolete and slow moving
stocks.
2.6. Taxation
The charge for taxation takes into account taxation deferred as a result of timing differences between the treatment of certain items for taxation and accounting purposes. In general, deferred taxation is recognised in respect of timing differences that have originated but not reversed at the balance sheet date. However, deferred tax assets are recognised only to the extent that the directors consider that it is more likely than not that there will be suitable taxable profits from which the future reversal of the underlying timing differences can be deducted. Deferred taxation is measured on a non-discounted basis at the tax rates that are expected to apply in periods in which the timing differences reverse, based on tax rates and the law enacted or substantively enacted at the balance sheet date.
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3. Average Number of Employees
Average number of employees, including directors, during the year was:
2023 2022
Sales, marketing and distribution 35 35
Management and Supervison 6 7
41 42
4. Intangible Assets
Total
£
Cost
As at 1 January 2023 486,122
As at 31 December 2023 486,122
Net Book Value
As at 31 December 2023 486,122
As at 1 January 2023 486,122
5. Tangible Assets
Total
£
Cost
As at 1 January 2023 601,073
Additions 4,304
As at 31 December 2023 605,377
Depreciation
As at 1 January 2023 523,222
Provided during the period 12,063
As at 31 December 2023 535,285
Net Book Value
As at 31 December 2023 70,092
As at 1 January 2023 77,851
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6. Secured Creditors
The company's bankers HSBC Bank PLC hold a debenture and legal charge over the undertakings and all property and assets of the company.
Of the creditors falling due within and after more than one year the following amounts are secured.
2023 2022
£ £
Bank loans and overdrafts 27,445 37,272
7. Deferred Taxation
The provision for deferred tax is made up as follows:
2023 2022
£ £
Other timing differences 17,523 13,592
8. Share Capital
2023 2022
£ £
Allotted, Called up and fully paid 100 100
9. Directors Advances, Credits and Guarantees
Included within Debtors are the following loans to directors:
As at 1 January 2023 Amounts advanced Amounts repaid Amounts written off As at 31 December 2023
£ £ £ £ £
Mr Karim Rashid 61,661 16,593 16,593 - 61,661
The above loan is unsecured, interest free and repayable on demand.
10. Related Party Transactions
Mrs M Rashid is a shareholder of the company and as such is a related party. Loans have been made to Mrs M Rashid amounting to £61,661 which are included within current assets (2022 - £61,661).
11. Ultimate Controlling Party
The company's ultimate controlling party is Mr Karim Rashid by virtue of his ownership of 50% of the issued share capital in the company.
Page 5