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 07826748 Alvin Osei-Tutu iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 07826748 2023-02-28 07826748 2024-02-29 07826748 2023-03-01 2024-02-29 07826748 frs-core:CurrentFinancialInstruments 2024-02-29 07826748 frs-core:Non-currentFinancialInstruments 2024-02-29 07826748 frs-core:BetweenOneFiveYears 2024-02-29 07826748 frs-core:ComputerEquipment 2024-02-29 07826748 frs-core:ComputerEquipment 2023-03-01 2024-02-29 07826748 frs-core:ComputerEquipment 2023-02-28 07826748 frs-core:DevelopmentCostsCapitalisedDevelopmentExpenditure 2023-03-01 2024-02-29 07826748 frs-core:FurnitureFittings 2024-02-29 07826748 frs-core:FurnitureFittings 2023-03-01 2024-02-29 07826748 frs-core:FurnitureFittings 2023-02-28 07826748 frs-core:MotorVehicles 2024-02-29 07826748 frs-core:MotorVehicles 2023-03-01 2024-02-29 07826748 frs-core:MotorVehicles 2023-02-28 07826748 frs-core:OtherResidualIntangibleAssets 2024-02-29 07826748 frs-core:OtherResidualIntangibleAssets 2023-03-01 2024-02-29 07826748 frs-core:OtherResidualIntangibleAssets 2023-02-28 07826748 frs-core:WithinOneYear 2024-02-29 07826748 frs-core:ShareCapital 2024-02-29 07826748 frs-core:RetainedEarningsAccumulatedLosses 2024-02-29 07826748 frs-bus:PrivateLimitedCompanyLtd 2023-03-01 2024-02-29 07826748 frs-bus:FilletedAccounts 2023-03-01 2024-02-29 07826748 frs-bus:SmallEntities 2023-03-01 2024-02-29 07826748 frs-bus:AuditExempt-NoAccountantsReport 2023-03-01 2024-02-29 07826748 frs-bus:SmallCompaniesRegimeForAccounts 2023-03-01 2024-02-29 07826748 frs-bus:Director1 2023-03-01 2024-02-29 07826748 frs-bus:Director1 2023-02-28 07826748 frs-bus:Director1 2024-02-29 07826748 frs-core:CurrentFinancialInstruments 1 2024-02-29 07826748 frs-core:CurrentFinancialInstruments 2 2024-02-29 07826748 frs-core:CurrentFinancialInstruments 6 2024-02-29 07826748 frs-core:CurrentFinancialInstruments 7 2024-02-29 07826748 frs-countries:EnglandWales 2023-03-01 2024-02-29 07826748 2022-02-28 07826748 2023-02-28 07826748 2022-03-01 2023-02-28 07826748 frs-core:CurrentFinancialInstruments 2023-02-28 07826748 frs-core:Non-currentFinancialInstruments 2023-02-28 07826748 frs-core:BetweenOneFiveYears 2023-02-28 07826748 frs-core:WithinOneYear 2023-02-28 07826748 frs-core:ShareCapital 2023-02-28 07826748 frs-core:RetainedEarningsAccumulatedLosses 2023-02-28 07826748 frs-core:CurrentFinancialInstruments 1 2023-02-28 07826748 frs-core:CurrentFinancialInstruments 2 2023-02-28 07826748 frs-core:CurrentFinancialInstruments 6 2023-02-28 07826748 frs-core:CurrentFinancialInstruments 7 2023-02-28 07826748 frs-core:CurrentFinancialInstruments 9 2023-02-28
Registered number: 07826748
Buadu 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: 07826748
2024 2023
Notes £ £ £ £
FIXED ASSETS
Intangible Assets 4 2,520 1,440
Tangible Assets 5 103,777 78,955
106,297 80,395
CURRENT ASSETS
Debtors 6 933,749 903,230
Cash at bank and in hand 5 49
933,754 903,279
Creditors: Amounts Falling Due Within One Year 7 (629,675 ) (565,290 )
NET CURRENT ASSETS (LIABILITIES) 304,079 337,989
TOTAL ASSETS LESS CURRENT LIABILITIES 410,376 418,384
Creditors: Amounts Falling Due After More Than One Year 8 (336,505 ) (320,768 )
PROVISIONS FOR LIABILITIES
Deferred Taxation (25,944 ) (17,253 )
NET ASSETS 47,927 80,363
CAPITAL AND RESERVES
Called up share capital 10 100 100
Profit and Loss Account 47,827 80,263
SHAREHOLDERS' FUNDS 47,927 80,363
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
30/09/2024
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
Buadu Limited is a private company, limited by shares, incorporated in England & Wales, registered number 07826748 . The registered office is Brook House 54a Cowley Mill Road, Cowley, Uxbridge, UB8 2FX.
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 5 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 and an expense, 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: 102 (2023: 107)
102 107
4. Intangible Assets
Other
£
Cost
As at 1 March 2023 87,514
Additions 1,800
As at 29 February 2024 89,314
Amortisation
As at 1 March 2023 86,074
Provided during the period 720
As at 29 February 2024 86,794
Net Book Value
As at 29 February 2024 2,520
As at 1 March 2023 1,440
5. Tangible Assets
Motor Vehicles Fixtures & Fittings Computer Equipment Total
£ £ £ £
Cost
As at 1 March 2023 173,217 12,974 27,964 214,155
Additions 47,431 4,534 2,513 54,478
As at 29 February 2024 220,648 17,508 30,477 268,633
...CONTINUED
Page 4
Page 5
Depreciation
As at 1 March 2023 101,959 10,430 22,811 135,200
Provided during the period 23,738 1,770 4,148 29,656
As at 29 February 2024 125,697 12,200 26,959 164,856
Net Book Value
As at 29 February 2024 94,951 5,308 3,518 103,777
As at 1 March 2023 71,258 2,544 5,153 78,955
6. Debtors
2024 2023
£ £
Due within one year
Trade debtors 134,928 155,536
Prepayments and accrued income 2,644 2,591
Other debtors 81,041 80
Rental deposit 7,550 7,550
Loans to staff - 8,070
Director's loan account 357,788 411,787
583,951 585,614
Due after more than one year
Amounts owed by associates 349,798 317,616
933,749 903,230
7. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Net obligations under finance lease and hire purchase contracts 16,297 16,297
Trade creditors 5,757 8,225
Bank loans and overdrafts 99,130 61,502
Other loans 22,195 10,859
Corporation tax 224,040 228,202
Other taxes and social security 34,155 24,489
Net wages 108,753 98,486
Pension control 9,795 8,950
Commercial cards 12,469 20,629
Holidays accrual 95,163 84,111
Accruals and deferred income 1,921 3,540
629,675 565,290
8. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Net obligations under finance lease and hire purchase contracts 69,422 43,877
Bank loans 18,707 28,515
Amounts owed to associates 248,376 248,376
336,505 320,768
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 16,297 16,297
Later than one year and not later than five years 69,422 43,877
85,719 60,174
85,719 60,174
10. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 100 100
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 411,787 357,788 411,787 - 357,788
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 A.C Sika and Buadu Corp Limited.
Buadu Limited owed A.C Sika £248,376 (£248,376 - 2023) and was owed £349,798 (£317,616 - 2023) by Buadu Corp Limited.
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