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 11634589 Mr Mukhtar Hussain iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 11634589 frs-core:Non-currentFinancialInstruments frs-core:MoreThanFiveYears 2023-12-31 11634589 2022-12-31 11634589 2023-12-31 11634589 2023-01-01 2023-12-31 11634589 frs-core:CurrentFinancialInstruments 2023-12-31 11634589 frs-core:Non-currentFinancialInstruments 2023-12-31 11634589 frs-core:InvestmentPropertyIncludedWithinPPE 2023-12-31 11634589 frs-core:InvestmentPropertyIncludedWithinPPE 2022-12-31 11634589 frs-core:RevaluationReserve 2023-01-01 2023-12-31 11634589 frs-core:RevaluationReserve 2022-12-31 11634589 frs-core:RevaluationReserve 2023-12-31 11634589 frs-core:ShareCapital 2023-12-31 11634589 frs-core:RetainedEarningsAccumulatedLosses 2023-12-31 11634589 frs-bus:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 11634589 frs-bus:FilletedAccounts 2023-01-01 2023-12-31 11634589 frs-bus:SmallEntities 2023-01-01 2023-12-31 11634589 frs-bus:AuditExempt-NoAccountantsReport 2023-01-01 2023-12-31 11634589 frs-bus:SmallCompaniesRegimeForAccounts 2023-01-01 2023-12-31 11634589 frs-bus:OrdinaryShareClass2 2023-01-01 2023-12-31 11634589 frs-bus:OrdinaryShareClass2 2023-12-31 11634589 frs-bus:OrdinaryShareClass3 2023-01-01 2023-12-31 11634589 frs-bus:OrdinaryShareClass3 2023-12-31 11634589 frs-bus:Director1 2023-01-01 2023-12-31 11634589 frs-countries:EnglandWales 2023-01-01 2023-12-31 11634589 frs-core:Non-currentFinancialInstruments frs-core:MoreThanFiveYears 2022-12-31 11634589 2021-12-31 11634589 2022-12-31 11634589 2022-01-01 2022-12-31 11634589 frs-core:CurrentFinancialInstruments 2022-12-31 11634589 frs-core:Non-currentFinancialInstruments 2022-12-31 11634589 frs-core:RevaluationReserve 2022-12-31 11634589 frs-core:ShareCapital 2022-12-31 11634589 frs-core:RetainedEarningsAccumulatedLosses 2022-12-31 11634589 frs-bus:OrdinaryShareClass2 2022-01-01 2022-12-31 11634589 frs-bus:OrdinaryShareClass3 2022-01-01 2022-12-31
Registered number: 11634589
Rozy Futures Limited
Unaudited Financial Statements
For The Year Ended 31 December 2023
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 11634589
2023 2022
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 1,441,400 1,441,400
1,441,400 1,441,400
CURRENT ASSETS
Debtors 5 - 3,000
Cash at bank and in hand 43,404 58,881
43,404 61,881
Creditors: Amounts Falling Due Within One Year 6 (239,370 ) (276,653 )
NET CURRENT ASSETS (LIABILITIES) (195,966 ) (214,772 )
TOTAL ASSETS LESS CURRENT LIABILITIES 1,245,434 1,226,628
Creditors: Amounts Falling Due After More Than One Year 7 (569,060 ) (612,812 )
PROVISIONS FOR LIABILITIES
Deferred Taxation (85,213 ) (64,762 )
NET ASSETS 591,161 549,054
CAPITAL AND RESERVES
Called up share capital 9 100 100
Revaluation reserve 11 255,639 276,090
Profit and Loss Account 335,422 272,864
SHAREHOLDERS' FUNDS 591,161 549,054
Page 1
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 Mukhtar Hussain
Director
12th September 2024
The notes on pages 3 to 5 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Rozy Futures Limited is a private company, limited by shares, incorporated in England & Wales, registered number 11634589 . The registered office is 82 Wandsworth Bridge Road, London, SW6 2TF.
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 rents receivable from investment properties recognised on a straight line basis and other fees for services supplied by the company to customers, net of value added tax and discounts.
2.3. 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. Deferred Tax is recognised in the profit and loss account on the changes in value as detailed in the accounting policy for deferred tax denoted below.
2.4. 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: NIL (2022: NIL)
- -
Page 3
Page 4
4. Tangible Assets
Investment Properties
£
Cost or Valuation
As at 1 January 2023 1,441,400
As at 31 December 2023 1,441,400
Net Book Value
As at 31 December 2023 1,441,400
As at 1 January 2023 1,441,400
Cost or valuation as at 31 December 2023 represented by:
Investment Properties
£
At valuation 1,441,400
1,441,400
The company's investment property was valued in 2023 by Michael Beech MRICS for WBW Surveyors Ltd at market value.
5. Debtors
2023 2022
£ £
Due within one year
Trade debtors - 3,000
6. Creditors: Amounts Falling Due Within One Year
2023 2022
£ £
Bank loans and overdrafts 53,460 52,063
Corporation tax 18,597 19,777
Other taxes and social security 8,000 9,500
Other creditors 132,328 168,328
Accruals and deferred income 26,585 26,585
Director's loan account 400 400
239,370 276,653
7. Creditors: Amounts Falling Due After More Than One Year
2023 2022
£ £
Bank loans 569,060 612,812
Of the creditors falling due after more than one year the following amounts are due after more than five years.
2023 2022
£ £
Bank loans 340,490 390,211
Page 4
Page 5
8. Secured Creditors
Of the creditors falling due within and after more than one year the following amounts are secured by a way of fixed charge over the company's investment property, an unlimited debenture over other assets and a cross guarantee.
2023 2022
£ £
Bank loans and overdrafts 622,520 664,873
9. Share Capital
2023 2022
Allotted, called up and fully paid £ £
95 Ordinary A shares of £ 1.000 each 95 95
5 Ordinary B shares of £ 1.000 each 5 5
100 100
10. Contingent Liabilities
2023 2022
£ £
At the end of the period 439,394 2,332,543
The company had contingent liabilities in respect of cross guarantee provided over the bank borrowings of ACS Technology Group Ltd.
11. Reserves
Revaluation Reserve
£
As at 1 January 2023 276,090
Transfer (from)/to profit and loss (Revaluation reserve) (20,451 )
As at 31 December 2023 255,639
12. Related Party Transactions
M HussainDirector and Majority ShareholderMr Hussain has lent monies to the company on an unsecured, interest free basis. The balance is repayable on demand. At the year end the balance owed to M Hussain amounted to £400 (2022: £400).

M Hussain

Director and Majority Shareholder

Mr Hussain has lent monies to the company on an unsecured, interest free basis. The balance is repayable on demand. At the year end the balance owed to M Hussain amounted to £400 (2022: £400).

ACS Technology Group LtdMr Hussain, the company's director and shareholder has a significant interest in ACS Technology Group Ltd.The company charged rent during the period to ACS Technology Group Ltd amounting to £115,310. The company has a loan balance with ACS Technology Group Ltd on an interest free and unsecured basis which is repayable on demand. At the year end the balance owed to ACS Technology Group Ltd amounted to £132,328 (2022: £168,328).

ACS Technology Group Ltd

Mr Hussain, the company's director and shareholder has a significant interest in ACS Technology Group Ltd.

The company charged rent during the period to ACS Technology Group Ltd amounting to £115,310. The company has a loan balance with ACS Technology Group Ltd on an interest free and unsecured basis which is repayable on demand. At the year end the balance owed to ACS Technology Group Ltd amounted to £132,328 (2022: £168,328).

Page 5