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 07480563 Mrs Jaya Modhwadia Mr Neelesh Modhwadia iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 07480563 2022-12-31 07480563 2023-12-31 07480563 2023-01-01 2023-12-31 07480563 frs-core:CurrentFinancialInstruments 2023-12-31 07480563 frs-core:Non-currentFinancialInstruments 2023-12-31 07480563 frs-core:ComputerEquipment 2023-12-31 07480563 frs-core:ComputerEquipment 2023-01-01 2023-12-31 07480563 frs-core:ComputerEquipment 2022-12-31 07480563 frs-core:FurnitureFittings 2023-12-31 07480563 frs-core:FurnitureFittings 2023-01-01 2023-12-31 07480563 frs-core:FurnitureFittings 2022-12-31 07480563 frs-core:NetGoodwill 2023-12-31 07480563 frs-core:NetGoodwill 2023-01-01 2023-12-31 07480563 frs-core:NetGoodwill 2022-12-31 07480563 frs-core:LandBuildings frs-core:OwnedOrFreeholdAssets 2023-12-31 07480563 frs-core:LandBuildings frs-core:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 07480563 frs-core:LandBuildings frs-core:OwnedOrFreeholdAssets 2022-12-31 07480563 frs-core:ShareCapital 2023-12-31 07480563 frs-core:RetainedEarningsAccumulatedLosses 2023-12-31 07480563 frs-bus:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 07480563 frs-bus:FilletedAccounts 2023-01-01 2023-12-31 07480563 frs-bus:SmallEntities 2023-01-01 2023-12-31 07480563 frs-bus:AuditExempt-NoAccountantsReport 2023-01-01 2023-12-31 07480563 frs-bus:SmallCompaniesRegimeForAccounts 2023-01-01 2023-12-31 07480563 frs-bus:Director1 2023-01-01 2023-12-31 07480563 frs-bus:Director2 2023-01-01 2023-12-31 07480563 frs-countries:EnglandWales 2023-01-01 2023-12-31 07480563 2021-12-31 07480563 2022-12-31 07480563 2022-01-01 2022-12-31 07480563 frs-core:CurrentFinancialInstruments 2022-12-31 07480563 frs-core:Non-currentFinancialInstruments 2022-12-31 07480563 frs-core:ShareCapital 2022-12-31 07480563 frs-core:RetainedEarningsAccumulatedLosses 2022-12-31
Registered number: 07480563
N V MODHWADIA LIMITED
Unaudited Financial Statements
For The Year Ended 31 December 2023
Contents
Page
Statement of Financial Position 1—2
Notes to the Financial Statements 3—5
Page 1
Statement of Financial Position
Registered number: 07480563
2023 2022
Notes £ £ £ £
FIXED ASSETS
Intangible Assets 4 282,000 172,000
Tangible Assets 5 138,326 19,332
420,326 191,332
CURRENT ASSETS
Stocks 6 61,500 43,000
Debtors 7 181,584 55,351
Cash at bank and in hand 15,776 106,869
258,860 205,220
Creditors: Amounts Falling Due Within One Year 8 (377,776 ) (235,200 )
NET CURRENT ASSETS (LIABILITIES) (118,916 ) (29,980 )
TOTAL ASSETS LESS CURRENT LIABILITIES 301,410 161,352
Creditors: Amounts Falling Due After More Than One Year 9 (189,754 ) (94,067 )
NET ASSETS 111,656 67,285
CAPITAL AND RESERVES
Called up share capital 10 100 100
Income Statement 111,556 67,185
SHAREHOLDERS' FUNDS 111,656 67,285
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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 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 Income Statement.
On behalf of the board
Mrs Jaya Modhwadia
Director
24/09/2024
The notes on pages 3 to 5 form part of these financial statements.
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Notes to the Financial Statements
1. General Information
N V MODHWADIA LIMITED is a private company, limited by shares, incorporated in England & Wales, registered number 07480563 . The registered office is High Street, Guilsborough, Northampton, NN6 8PU.
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. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Intangible Fixed Assets and Amortisation - Goodwill
Goodwill is the difference between amounts paid on the acquisition of a business and the fair value of the separable net assets. It is amortised to income statement over its estimated economic life of .... years.
2.4. 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:
Improvement to property Not depreciated
Fixtures & Fittings 15
Computer Equipment 25
2.5. 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.
2.6. Purchase of new business
Company has taken new business of Badwell Ash, Village Store, address is The Street, Badwell Ash, Bury St Edmunds, IP31 3DG on dated 01/05/2023.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 10 (2022: 7)
10 7
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4. Intangible Assets
Goodwill
£
Cost
As at 1 January 2023 172,000
Additions 110,000
As at 31 December 2023 282,000
Net Book Value
As at 31 December 2023 282,000
As at 1 January 2023 172,000
5. Tangible Assets
Land & Property
Improvement to property Fixtures & Fittings Computer Equipment Total
£ £ £ £
Cost
As at 1 January 2023 11,474 10,571 2,100 24,145
Additions 24,526 111,805 - 136,331
As at 31 December 2023 36,000 122,376 2,100 160,476
Depreciation
As at 1 January 2023 - 4,090 723 4,813
Provided during the period - 16,993 344 17,337
As at 31 December 2023 - 21,083 1,067 22,150
Net Book Value
As at 31 December 2023 36,000 101,293 1,033 138,326
As at 1 January 2023 11,474 6,481 1,377 19,332
6. Stocks
2023 2022
£ £
Finished goods 61,500 43,000
7. Debtors
2023 2022
£ £
Due within one year
Other debtors 181,584 55,351
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8. Creditors: Amounts Falling Due Within One Year
2023 2022
£ £
Trade creditors 35,465 4,234
Other creditors 339,385 219,825
Taxation and social security 2,926 11,141
377,776 235,200
9. Creditors: Amounts Falling Due After More Than One Year
2023 2022
£ £
HSBC loan account -81502506 45,187 52,102
Other creditors 144,567 41,965
189,754 94,067
10. Share Capital
2023 2022
£ £
Allotted, Called up and fully paid 100 100
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