Acorah Software Products - Accounts Production 15.0.600 false true 28 February 2023 1 March 2022 false 1 March 2023 29 February 2024 29 February 2024 04377737 Mr Peter Cipolla Mrs Michelle Cipolla Mr Peter Cipolla and Mr Brian Duggan true iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 04377737 2023-02-28 04377737 2024-02-29 04377737 2023-03-01 2024-02-29 04377737 frs-core:CurrentFinancialInstruments 2024-02-29 04377737 frs-core:Non-currentFinancialInstruments 2024-02-29 04377737 frs-core:ComputerEquipment 2024-02-29 04377737 frs-core:ComputerEquipment 2023-03-01 2024-02-29 04377737 frs-core:ComputerEquipment 2023-02-28 04377737 frs-core:PlantMachinery 2024-02-29 04377737 frs-core:PlantMachinery 2023-03-01 2024-02-29 04377737 frs-core:PlantMachinery 2023-02-28 04377737 frs-core:ShareCapital 2024-02-29 04377737 frs-core:RetainedEarningsAccumulatedLosses 2024-02-29 04377737 frs-bus:PrivateLimitedCompanyLtd 2023-03-01 2024-02-29 04377737 frs-bus:FilletedAccounts 2023-03-01 2024-02-29 04377737 frs-bus:SmallEntities 2023-03-01 2024-02-29 04377737 frs-bus:AuditExempt-NoAccountantsReport 2023-03-01 2024-02-29 04377737 frs-bus:SmallCompaniesRegimeForAccounts 2023-03-01 2024-02-29 04377737 frs-bus:OrdinaryShareClass1 2023-03-01 2024-02-29 04377737 frs-bus:OrdinaryShareClass1 2024-02-29 04377737 1 2023-03-01 2024-02-29 04377737 frs-bus:Director1 2023-03-01 2024-02-29 04377737 frs-bus:CompanySecretary1 2023-03-01 2024-02-29 04377737 frs-countries:EnglandWales 2023-03-01 2024-02-29 04377737 2022-02-28 04377737 2023-02-28 04377737 2022-03-01 2023-02-28 04377737 frs-core:CurrentFinancialInstruments 2023-02-28 04377737 frs-core:Non-currentFinancialInstruments 2023-02-28 04377737 frs-core:ShareCapital 2023-02-28 04377737 frs-core:RetainedEarningsAccumulatedLosses 2023-02-28 04377737 frs-bus:OrdinaryShareClass1 2022-03-01 2023-02-28
Registered number: 04377737
Oldara Limited
Unaudited Financial Statements
For The Year Ended 29 February 2024
Unaudited Financial Statements
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 04377737
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 5,204 5,933
5,204 5,933
CURRENT ASSETS
Stocks 5 84,648 65,368
Debtors 6 390,728 549,687
Cash at bank and in hand 193,176 155,309
668,552 770,364
Creditors: Amounts Falling Due Within One Year 7 (334,903 ) (222,587 )
NET CURRENT ASSETS (LIABILITIES) 333,649 547,777
TOTAL ASSETS LESS CURRENT LIABILITIES 338,853 553,710
Creditors: Amounts Falling Due After More Than One Year 8 (56,352 ) (202,530 )
NET ASSETS 282,501 351,180
CAPITAL AND RESERVES
Called up share capital 9 100 100
Profit and Loss Account 282,401 351,080
SHAREHOLDERS' FUNDS 282,501 351,180
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For the year ending 29 February 2024 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 Peter Cipolla
Director
21 August 2024
The notes on pages 3 to 5 form part of these financial statements.
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Page 3
Notes to the Financial Statements
1. General Information
Oldara Limited is a private company, limited by shares, incorporated in England & Wales, registered number 04377737 . The registered office is Cleeve Wood Pharmacy Cleeve Wood Road, Downend, Bristol, BS16 2SF.
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 comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
2.3. 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:
Plant & Machinery 25% reducing balance
Computer Equipment 25% straight line
2.4. 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.
2.5. 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 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 12 (2023: 11)
12 11
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4. Tangible Assets
Plant & Machinery Computer Equipment Total
£ £ £
Cost
As at 1 March 2023 43,522 3,147 46,669
Additions - 1,320 1,320
As at 29 February 2024 43,522 4,467 47,989
Depreciation
As at 1 March 2023 39,404 1,332 40,736
Provided during the period 1,490 559 2,049
As at 29 February 2024 40,894 1,891 42,785
Net Book Value
As at 29 February 2024 2,628 2,576 5,204
As at 1 March 2023 4,118 1,815 5,933
5. Stocks
2024 2023
£ £
Finished goods 84,648 65,368
6. Debtors
2024 2023
£ £
Due within one year
Trade debtors 155,802 120,201
Prepayments and accrued income 2,568 1,055
Other debtors - 457
VAT 20,332 16,368
178,702 138,081
Due after more than one year
Amounts owed by group undertakings 212,026 411,606
212,026 411,606
390,728 549,687
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7. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 237,216 189,454
Bank loans and overdrafts 17,600 -
Corporation tax 41,404 20,317
Other taxes and social security 1,866 2,613
Net wages 9,465 10,006
Other creditors 414 197
Director's loan account 26,938 -
334,903 222,587
8. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Bank loans 56,352 92,310
Directors loan account - 110,220
56,352 202,530
9. Share Capital
2024 2023
Allotted, called up and fully paid £ £
100 Ordinary Shares of £ 1.000 each 100 100
10. Ultimate Controlling Party
The company's ultimate controlling party is Billennia Limited by virtue of its ownership of 100% of the issued share capital in the company.
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