Acorah Software Products - Accounts Production 14.6.300 false true 31 March 2023 1 April 2022 false 10 July 2024 1 April 2023 31 March 2024 31 March 2024 07289592 C Bottle M Thomas I Ross G Whittle false iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 07289592 2023-03-31 07289592 2024-03-31 07289592 2023-04-01 2024-03-31 07289592 frs-core:ComputerEquipment 2023-04-01 2024-03-31 07289592 frs-core:FurnitureFittings 2023-04-01 2024-03-31 07289592 frs-core:PlantMachinery 2023-04-01 2024-03-31 07289592 frs-core:RetainedEarningsAccumulatedLosses 2024-03-31 07289592 frs-bus:CompanyLimitedByGuarantee 2023-04-01 2024-03-31 07289592 frs-bus:AbridgedAccounts 2023-04-01 2024-03-31 07289592 frs-bus:SmallEntities 2023-04-01 2024-03-31 07289592 frs-bus:Audited 2023-04-01 2024-03-31 07289592 frs-bus:SmallCompaniesRegimeForAccounts 2023-04-01 2024-03-31 07289592 1 2023-04-01 2024-03-31 07289592 frs-bus:Director1 2023-04-01 2024-03-31 07289592 frs-bus:Director2 2023-04-01 2024-03-31 07289592 frs-bus:Director3 2023-04-01 2024-03-31 07289592 frs-bus:Director4 2023-04-01 2024-03-31 07289592 frs-countries:EnglandWales 2023-04-01 2024-03-31 07289592 2022-03-31 07289592 2023-03-31 07289592 2022-04-01 2023-03-31 07289592 frs-core:RetainedEarningsAccumulatedLosses 2023-03-31
Registered number: 07289592
UKWA Limited
ABRIDGED Financial Statements
For The Year Ended 31 March 2024
Contents
Page
Abridged Balance Sheet 1
Notes to the Abridged Financial Statements 2—4
Page 1
Abridged Balance Sheet
Registered number: 07289592
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 11,643 679
11,643 679
CURRENT ASSETS
Debtors 268,872 163,405
Cash at bank and in hand 687,033 663,811
955,905 827,216
Creditors: Amounts Falling Due Within One Year (324,867 ) (182,256 )
NET CURRENT ASSETS (LIABILITIES) 631,038 644,960
TOTAL ASSETS LESS CURRENT LIABILITIES 642,681 645,639
NET ASSETS 642,681 645,639
Income and Expenditure Account 642,681 645,639
MEMBERS' FUNDS 642,681 645,639
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 and Expenditure Account.
All of the company's members have consented to the preparation of an Abridged Income and Expenditure Account and an Abridged Balance Sheet for the year end 31 March 2024 in accordance with section 444(2A) of the Companies Act 2006.
On behalf of the board
M Thomas
Director
10th July 2024
The notes on pages 2 to 4 form part of these financial statements.
Page 1
Page 2
Notes to the Abridged Financial Statements
1. General Information
UKWA Limited is a private company, limited by guarantee, incorporated in England & Wales, registered number 07289592 . The registered office is Golden Cross House, Duncannon Street, London, WC2N 4JF.
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.
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.
Revenue is recognisd whena sales invoice is raised and in accordance with the membership agreement.  
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% on cost
Fixtures & Fittings 33% on cost
Computer Equipment 33% on cost
2.4. Leasing and Hire Purchase Contracts
Rentals paid under operating leases are charged to surplus or deficit on a straight line basis over the period of the
lease.
2.5. Financial Instruments
i)Financial assets
Basic financial assets, including trade and other receivables, and cash and bank balances, are initially recognised at transaction price,unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receiptsdiscounted at a market rate of interest.
Such assets are subsequently carried at amortised cost using the effective interest method.
At the end of each reporting period financial assets measured at amortised cost are assessed for objective evidence of impairment. If an asset is impaired the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset's original effective interest rate. The impairment loss is recognised in profit or loss. If there is a decrease in the impairment loss arising from an event occurring after the impairment was recognised, the impairment is reversed. The reversal is such that the current carrying amount does not exceed what the carrying amount would have been had the impairment not previously been recognised. The impairment reversal is recognised in profit or loss.
Other financial assets, including investments in equity instruments which are not subsidiaries, associates or joint ventures, are initially measured at fair value, which is normally the transaction price.
Such assets are subsequently carried at fair value and the changes in fair value are recognised in profit or loss, except that investments in equity instruments that are not publically traded and whose fair values cannot be measured reliably are measured at cost less impairment.
Financial assets are derecognised when (a) the contractual rights to the cash flows from the asset expire or are settled, or (b)substantially all the risks and rewards of the ownership of the asset are transferred to another party or (c) despite having retained some significant risks and rewards of ownership, control of the asset has been transferred to another party who has the practical ability to unilaterally sell the asset to an unrelated third party without imposing additional restrictions.
ii) Financial liabilities
...CONTINUED
Page 2
Page 3
2.5. Financial Instruments - continued
Basic financial liabilities, including trade and other payables, bank loans, and loans from fellow Group companies are classified as debt, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest.
Debt instruments are subsequently carried at amortised cost, using the effective interest rate method. Fees paid on the establishment of loan facilities are recognised as transaction costs of the loan to the extent that it is probable that some or all of the facility will be drawn down. In this case, the fee is deferred until the draw-down occurs. To the extent there is no evidence that it is probable that some or all of the facility will be drawn down, the fee is capitalised as a pre-payment for liquidity services and amortised over the period of the facility to which it relates.
2.6. Foreign Currencies
Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate ruling on the date of the transaction. Exchange differences are taken into account in arriving at the operating surplus.
2.7. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable surplus for the year. Taxable surplus differs from surplus 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 surplus. 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 surplus 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 surplus 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 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 surplus or deficit, 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.
2.8. Pensions
The company operates a defined contribution pension scheme. Contributions payable to the company's pension
scheme are charged to profit or loss in the period to which they relate.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 12 (2023: 7)
12 7
4. Tangible Assets
Total
£
Cost
As at 1 April 2023 35,108
Additions 16,942
As at 31 March 2024 52,050
Depreciation
As at 1 April 2023 34,429
Provided during the period 5,978
As at 31 March 2024 40,407
...CONTINUED
Page 3
Page 4
Net Book Value
As at 31 March 2024 11,643
As at 1 April 2023 679
5. Company limited by guarantee
The company is limited by guarantee and has no share capital.
Every member of the company undertakes to contribute to the assets of the company, in the event of a winding up, such an amount as may be required not exceeding £1.
6. FRC's Ethical Standard - Provision Available for Small Entities
In common with other businesses of our size and nature we use our auditors to prepare and submit returns to the tax authorities and assist with the preparation of the financial statements.
7. Controlling Party
The Company is limited by guarantee and its ultimate controlling party are the directors of the Company.
8. Audit Information
The auditors report on the account of UKWA Limited for the year ended 31 March 2024 was unqualified
The auditor's report was signed by Paul Baker FCA (Senior Statutory Auditor) for and on behalf of McKenzies , Statutory Auditor
McKenzies
2 Station Road West
Oxted
Surrey
RH8 9EP
Page 4