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 09449648 Alvin Osei-Tutu iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 09449648 2023-02-28 09449648 2024-02-29 09449648 2023-03-01 2024-02-29 09449648 frs-core:CurrentFinancialInstruments 2024-02-29 09449648 frs-core:Non-currentFinancialInstruments 2024-02-29 09449648 frs-core:BetweenOneFiveYears 2024-02-29 09449648 frs-core:ComputerEquipment 2024-02-29 09449648 frs-core:ComputerEquipment 2023-03-01 2024-02-29 09449648 frs-core:ComputerEquipment 2023-02-28 09449648 frs-core:DevelopmentCostsCapitalisedDevelopmentExpenditure 2023-03-01 2024-02-29 09449648 frs-core:FurnitureFittings 2024-02-29 09449648 frs-core:FurnitureFittings 2023-03-01 2024-02-29 09449648 frs-core:FurnitureFittings 2023-02-28 09449648 frs-core:MotorVehicles 2024-02-29 09449648 frs-core:MotorVehicles 2023-03-01 2024-02-29 09449648 frs-core:MotorVehicles 2023-02-28 09449648 frs-core:OtherResidualIntangibleAssets 2024-02-29 09449648 frs-core:OtherResidualIntangibleAssets 2023-03-01 2024-02-29 09449648 frs-core:OtherResidualIntangibleAssets 2023-02-28 09449648 frs-core:WithinOneYear 2024-02-29 09449648 frs-core:ShareCapital 2024-02-29 09449648 frs-core:RetainedEarningsAccumulatedLosses 2024-02-29 09449648 frs-bus:PrivateLimitedCompanyLtd 2023-03-01 2024-02-29 09449648 frs-bus:FilletedAccounts 2023-03-01 2024-02-29 09449648 frs-bus:SmallEntities 2023-03-01 2024-02-29 09449648 frs-bus:AuditExempt-NoAccountantsReport 2023-03-01 2024-02-29 09449648 frs-bus:SmallCompaniesRegimeForAccounts 2023-03-01 2024-02-29 09449648 frs-bus:Director1 2023-03-01 2024-02-29 09449648 frs-bus:Director1 2023-02-28 09449648 frs-bus:Director1 2024-02-29 09449648 frs-core:CurrentFinancialInstruments 1 2024-02-29 09449648 frs-core:CurrentFinancialInstruments 2 2024-02-29 09449648 frs-countries:EnglandWales 2023-03-01 2024-02-29 09449648 2022-02-28 09449648 2023-02-28 09449648 2022-03-01 2023-02-28 09449648 frs-core:CurrentFinancialInstruments 2023-02-28 09449648 frs-core:Non-currentFinancialInstruments 2023-02-28 09449648 frs-core:BetweenOneFiveYears 2023-02-28 09449648 frs-core:WithinOneYear 2023-02-28 09449648 frs-core:ShareCapital 2023-02-28 09449648 frs-core:RetainedEarningsAccumulatedLosses 2023-02-28 09449648 frs-core:CurrentFinancialInstruments 1 2023-02-28 09449648 frs-core:CurrentFinancialInstruments 2 2023-02-28
Registered number: 09449648
A.C Sika Limited
Unaudited Financial Statements
For The Year Ended 29 February 2024
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—6
Page 1
Balance Sheet
Registered number: 09449648
2024 2023
Notes £ £ £ £
FIXED ASSETS
Intangible Assets 4 900 1,260
Tangible Assets 5 39,937 5,381
40,837 6,641
CURRENT ASSETS
Debtors 6 541,443 510,380
Cash at bank and in hand 24 24
541,467 510,404
Creditors: Amounts Falling Due Within One Year 7 (167,584 ) (177,961 )
NET CURRENT ASSETS (LIABILITIES) 373,883 332,443
TOTAL ASSETS LESS CURRENT LIABILITIES 414,720 339,084
Creditors: Amounts Falling Due After More Than One Year 8 (111,684 ) (116,236 )
PROVISIONS FOR LIABILITIES
Deferred Taxation (9,984 ) (1,345 )
NET ASSETS 293,052 221,503
CAPITAL AND RESERVES
Called up share capital 10 2 2
Profit and Loss Account 293,050 221,501
SHAREHOLDERS' FUNDS 293,052 221,503
Page 1
Page 2
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
Alvin Osei-Tutu
Director
01/10/2024
The notes on pages 3 to 6 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
A.C Sika Limited is a private company, limited by shares, incorporated in England & Wales, registered number 09449648 . The registered office is 259 London Road, Hadleigh, Benfleet, Essex, SS7 2BN.
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. 
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 - Other Intangible
Other intangible assets are franchise license fee. It is amortised to profit and loss account over its estimated economic life of 10 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:
Motor Vehicles - 20% reducing balance
Fixtures & Fittings - 25% reducing balance
Computer Equipment - 33% straight line
2.5. Leasing and Hire Purchase Contracts
Assets obtained under finance leases are capitalised as tangible fixed assets. Assets acquired under finance leases are depreciated over the shorter of the lease term and their useful lives. Assets acquired under hire purchase contracts are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in the creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.

Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to profit and loss account as incurred.
2.6. 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 years 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.
...CONTINUED
Page 3
Page 4
2.6. Taxation - continued
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 assets reflect 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.
2.7. Pensions
The company operates a defined pension contribution scheme. Contributions are charged to the profit and loss account as they become payable in accordance with the rules of the scheme.
2.8. Employee benefits
The costs of short-term employee benefits are recognised as a liability, unless those costs are required to be recognised as part of the cost of stock or fixed assets.
The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.
Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 26 (2023: 28)
26 28
4. Intangible Assets
Other
£
Cost
As at 1 March 2023 1,800
As at 29 February 2024 1,800
Amortisation
As at 1 March 2023 540
Provided during the period 360
As at 29 February 2024 900
Net Book Value
As at 29 February 2024 900
As at 1 March 2023 1,260
5. Tangible Assets
Motor Vehicles Fixtures & Fittings Computer Equipment Total
£ £ £ £
Cost
As at 1 March 2023 - 12,700 5,683 18,383
Additions 44,990 - 482 45,472
As at 29 February 2024 44,990 12,700 6,165 63,855
...CONTINUED
Page 4
Page 5
Depreciation
As at 1 March 2023 - 7,941 5,061 13,002
Provided during the period 8,998 1,190 728 10,916
As at 29 February 2024 8,998 9,131 5,789 23,918
Net Book Value
As at 29 February 2024 35,992 3,569 376 39,937
As at 1 March 2023 - 4,759 622 5,381
6. Debtors
2024 2023
£ £
Due within one year
Trade debtors 62,496 66,918
Prepayments and accrued income 1,520 4,604
Other debtors - 200
Director's loan account 48,050 -
Amounts owed by associates 429,377 438,658
541,443 510,380
7. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Net obligations under finance lease and hire purchase contracts 10,885 -
Bank loans and overdrafts 69,533 57,125
Corporation tax 41,107 56,654
Other taxes and social security 7,048 9,943
Net wages 23,515 29,108
Pension control account 1,994 2,383
Accrued holidays 12,040 20,408
Accruals and deferred income 1,462 2,340
167,584 177,961
8. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Net obligations under finance lease and hire purchase contracts 28,937 -
Bank loans 82,747 116,236
111,684 116,236
Page 5
Page 6
9. Obligations Under Finance Leases and Hire Purchase
2024 2023
£ £
The future minimum finance lease payments are as follows:
Not later than one year 10,885 -
Later than one year and not later than five years 28,937 -
39,822 -
39,822 -
10. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 2 2
11. 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 Alvin Osei-Tutu - 48,050 - - 48,050
The above loan is unsecured, interest free and repayable on demand.
12. Related Party Transactions
The director Alvin Osei Tutu, is the majority shareholder of Buadu Limited and Buadu Corp Limited.
Buadu Limited owed A.C Sika £236,070 (£248,376 - 2023) and Buadu Corp Limited owed A.C Sika Limited £193,307 (£190,282 - 2023), at the balance sheet date.
Page 6