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Company registration number: 11231140
Random Software Ltd
Unaudited filleted financial statements
28 February 2024
Random Software Ltd
Contents
Directors and other information
Accountants report
Statement of financial position
Notes to the financial statements
Random Software Ltd
Directors and other information
Directors Mr N Parr-Davies
Mr PMRL Bandara
Company number 11231140
Registered office 201 Harbour House
Aberystwyth
Ceredigion
SY23 1AS
Accountants Davies Lewis Baker Ltd
31 Bridge Street
Aberystwyth
Ceredigion
SY23 1QB
Random Software Ltd
Report to the board of directors on the preparation of the
unaudited statutory financial statements of Random Software Ltd
Year ended 28 February 2024
As described on the statement of financial position, the directors of the company are responsible for the preparation of the financial statements for the year ended 28 February 2024 which comprise the statement of financial position and related notes.
You consider that the company is exempt from an audit under the Companies Act 2006. In accordance with your instructions we have compiled these unaudited financial statements in order to assist you to fulfil your statutory responsibilities, from the accounting records and from information and explanations supplied to us.
Davies Lewis Baker Ltd
31 Bridge Street
Aberystwyth
Ceredigion
SY23 1QB
17 September 2024
Random Software Ltd
Statement of financial position
28 February 2024
2024 2023
Note £ £ £ £
Fixed assets
Tangible assets 6 11,569 7,655
________ ________
11,569 7,655
Current assets
Debtors 7 124,705 83,502
Cash at bank and in hand 177,178 228,068
________ ________
301,883 311,570
Creditors: amounts falling due
within one year 8 ( 57,598) ( 104,752)
________ ________
Net current assets 244,285 206,818
________ ________
Total assets less current liabilities 255,854 214,473
Provisions for liabilities ( 2,892) ( 1,454)
________ ________
Net assets 252,962 213,019
________ ________
Capital and reserves
Called up share capital 100 100
Profit and loss account 252,862 212,919
________ ________
Shareholders funds 252,962 213,019
________ ________
For the year ending 28 February 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
These financial statements were approved by the board of directors and authorised for issue on 17 September 2024 , and are signed on behalf of the board by:
Mr N Parr-Davies Mr PMRL Bandara
Director Director
Company registration number: 11231140
Random Software Ltd
Notes to the financial statements
Year ended 28 February 2024
1. General information
The company is a private company limited by shares, registered in England & Wales. The address of the registered office is 201 Harbour House, Aberystwyth, Ceredigion, SY23 1AS.
2. Statement of compliance
These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets measured at fair value through profit or loss.The financial statements are prepared in sterling, which is the functional currency of the entity.
Turnover
Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for services rendered, stated net of discounts and of Value Added Tax.When the outcome of a transaction involving the rendering of services can be reliably estimated, revenue from the rendering of services is measured by reference to the stage of completion of the service transaction at the end of the reporting period.When the outcome of a transaction involving the rendering of services cannot be reliably estimated, revenue is recognised only to the extent that expenses recognised are recoverable.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the statement of comprehensive income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
Tangible assets
Tangible assets are initially recorded at cost, and is subsequently stated at cost less any accumulated depreciation and any accumulated impairment losses.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Fittings fixtures and equipment - 33 % straight line
If there is an indication that there has been a significant change in depreciation rate, useful life or residual value of tangible assets, the depreciation is revised prospectively to reflect the new estimates.
Impairment
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. When it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that are largely independent of the cash inflows from other assets or groups of assets.
Provisions
Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event; it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised in finance costs in profit or loss in the period it arises.
Financial instruments
A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.Debt instruments are subsequently measured at amortised cost.Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately.For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets are either assessed individually or grouped on the basis of similar credit risk characteristics.Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 3 (2023: 2 ).
5. Dividends
Equity dividends
2024 2023
£ £
Dividends paid during the year (excluding those for which a liability existed at the end of the prior year) 60,000 20,000
________ ________
6. Tangible assets
Fixtures, fittings and equipment Total
£ £
Cost
At 1 March 2023 20,990 20,990
Additions 14,250 14,250
________ ________
At 28 February 2024 35,240 35,240
________ ________
Depreciation
At 1 March 2023 13,335 13,335
Charge for the year 10,336 10,336
________ ________
At 28 February 2024 23,671 23,671
________ ________
Carrying amount
At 28 February 2024 11,569 11,569
________ ________
At 28 February 2023 7,655 7,655
________ ________
7. Debtors
2024 2023
£ £
Trade debtors 93,209 81,344
Other debtors 31,496 2,158
________ ________
124,705 83,502
________ ________
8. Creditors: amounts falling due within one year
2024 2023
£ £
Trade creditors 2,856 -
Corporation tax 31,963 30,390
Social security and other taxes 20,835 13,711
Other creditors 1,944 60,651
________ ________
57,598 104,752
________ ________
9. Directors advances, credits and guarantees
The directors provided unsecured interest free loans to the company during the year, having no fixed terms of repayment. The balances owed to the directors at 28 February 2024 were £50 (2023: £7, 746). The loans are given to provide working capital for the company.
10. Related party transactions
During the period dividends were paid to the directors as follows: £60,000 (2023: £20,000).