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 11199188 Mr Alan Humes Mr Daniel Cooke iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 11199188 2023-02-28 11199188 2024-02-29 11199188 2023-03-01 2024-02-29 11199188 frs-core:Non-currentFinancialInstruments 2024-02-29 11199188 frs-core:ComputerEquipment 2023-03-01 2024-02-29 11199188 frs-core:FurnitureFittings 2023-03-01 2024-02-29 11199188 frs-core:PlantMachinery 2023-03-01 2024-02-29 11199188 frs-core:ShareCapital 2024-02-29 11199188 frs-core:RetainedEarningsAccumulatedLosses 2024-02-29 11199188 frs-bus:PrivateLimitedCompanyLtd 2023-03-01 2024-02-29 11199188 frs-bus:AbridgedAccounts 2023-03-01 2024-02-29 11199188 frs-bus:SmallEntities 2023-03-01 2024-02-29 11199188 frs-bus:AuditExemptWithAccountantsReport 2023-03-01 2024-02-29 11199188 frs-bus:SmallCompaniesRegimeForAccounts 2023-03-01 2024-02-29 11199188 frs-bus:Director1 2023-03-01 2024-02-29 11199188 frs-bus:Director1 2023-02-28 11199188 frs-bus:Director1 2024-02-29 11199188 frs-bus:Director2 2023-03-01 2024-02-29 11199188 frs-bus:Director2 2023-02-28 11199188 frs-bus:Director2 2024-02-29 11199188 frs-countries:EnglandWales 2023-03-01 2024-02-29 11199188 2022-02-28 11199188 2023-02-28 11199188 2022-03-01 2023-02-28 11199188 frs-core:Non-currentFinancialInstruments 2023-02-28 11199188 frs-core:ShareCapital 2023-02-28 11199188 frs-core:RetainedEarningsAccumulatedLosses 2023-02-28
Registered number: 11199188
Dark Swan Ltd
Unaudited ABRIDGED Financial Statements
For The Year Ended 29 February 2024
ALP Accountancy Ltd
19 Beaufort Close
Lee-On-The-Solent
PO13 8FN
Contents
Page
Accountant's Report 1
Abridged Balance Sheet 2—3
Notes to the Abridged Financial Statements 4—5
Page 1
Accountant's Report
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Dark Swan Ltd for the year ended 29th February 2024 which comprise the Profit and Loss Account, the Balance Sheet, and the related notes from the company's accounting records and from information and explanations you have given us.
As a practising member firm of the Chartered Institute of Management Accountants, we are subject to its ethical and other professional requirements which are detailed at http://www.cimaglobal.com.
This report is made solely to the directors of Dark Swan Ltd in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Dark Swan Ltd and state those matters that we have agreed to state to the directors of Dark Swan Ltd in this report in accordance with the requirements of the Chartered Institute of Management Accountants as detailed at http://www.cimaglobal.com. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and its director for our work or for this report.
It is your duty to ensure that Dark Swan Ltd has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Dark Swan Ltd . You consider that Dark Swan Ltd is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit or a review of the financial statements of Dark Swan Ltd . For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.
Signed
ALP Accountancy Ltd
1st July 2024
ALP Accountancy Ltd
19 Beaufort Close
Lee-On-The-Solent
PO13 8FN
Page 1
Page 2
Abridged Balance Sheet
Registered number: 11199188
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 2,801 3,196
2,801 3,196
CURRENT ASSETS
Debtors 68,900 4,125
Cash at bank and in hand 23,431 61,244
92,331 65,369
Creditors: Amounts Falling Due Within One Year (40,072 ) (45,377 )
NET CURRENT ASSETS (LIABILITIES) 52,259 19,992
TOTAL ASSETS LESS CURRENT LIABILITIES 55,060 23,188
Creditors: Amounts Falling Due After More Than One Year (54,753 ) (16,727 )
NET ASSETS 307 6,461
CAPITAL AND RESERVES
Called up share capital 5 50 50
Profit and Loss Account 257 6,411
SHAREHOLDERS' FUNDS 307 6,461
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Page 3
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 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 Profit and Loss Account.
All of the company's members have consented to the preparation of an Abridged Balance Sheet for the year end 29 February 2024 in accordance with section 444(2A) of the Companies Act 2006.
On behalf of the board
Mr Alan Humes
Director
1st July 2024
The notes on pages 4 to 5 form part of these financial statements.
Page 3
Page 4
Notes to the Abridged Financial Statements
1. General Information
Dark Swan Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 11199188 . The registered office is 28 Quail Way, Waterlooville, PO8 9YN.
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. 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:
Plant & Machinery 33%
Fixtures & Fittings 33%
Computer Equipment 33%
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.
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2.5. Government Grant
Government grants are recognised in the profit and loss account in an appropriate manner that matches them with the expenditure towards which they are intended to contribute.
Grants for immediate financial support or to cover costs already incurred are recognised immediately in the profit and loss account. Grants towards general activities of the entity over a specific period are recognised in the profit and loss account over that period.
Grants towards fixed assets are recognised over the expected useful lives of the related assets and are treated as deferred income and released to the profit and loss account over the useful life of the asset concerned.
All grants in the profit and loss account are recognised when all conditions for receipt have been complied with.
3. Average Number of Employees
Average number of employees, including directors, during the year was: NIL (2023: NIL)
- -
4. Tangible Assets
Total
£
Cost
As at 1 March 2023 9,286
Additions 1,512
As at 29 February 2024 10,798
Depreciation
As at 1 March 2023 6,090
Provided during the period 1,907
As at 29 February 2024 7,997
Net Book Value
As at 29 February 2024 2,801
As at 1 March 2023 3,196
5. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 50 50
6. Directors Advances, Credits and Guarantees
Included within Debtors are the following loans to directors:
As at 1 March 2023 Amounts advanced Amounts repaid Amounts written off As at 29 February 2024
£ £ £ £ £
Mr Alan Humes (273 ) 53,171 (33,093 ) - 19,804
Mr Daniel Cooke (274 ) 43,072 (33,093 ) - 9,705
The above loan is unsecured, interest free and repayable on demand.
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