Acorah Software Products - Accounts Production 15.0.600 false true 31 March 2023 1 April 2022 false 1 April 2023 31 March 2024 31 March 2024 07829276 Mr Kosta Hristov iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 07829276 2023-03-31 07829276 2024-03-31 07829276 2023-04-01 2024-03-31 07829276 frs-core:CurrentFinancialInstruments 2024-03-31 07829276 frs-core:ComputerEquipment 2024-03-31 07829276 frs-core:ComputerEquipment 2023-04-01 2024-03-31 07829276 frs-core:ComputerEquipment 2023-03-31 07829276 frs-core:MotorVehicles 2024-03-31 07829276 frs-core:MotorVehicles 2023-04-01 2024-03-31 07829276 frs-core:MotorVehicles 2023-03-31 07829276 frs-core:ShareCapital 2024-03-31 07829276 frs-core:RetainedEarningsAccumulatedLosses 2024-03-31 07829276 frs-bus:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 07829276 frs-bus:FilletedAccounts 2023-04-01 2024-03-31 07829276 frs-bus:SmallEntities 2023-04-01 2024-03-31 07829276 frs-bus:AuditExempt-NoAccountantsReport 2023-04-01 2024-03-31 07829276 frs-bus:SmallCompaniesRegimeForAccounts 2023-04-01 2024-03-31 07829276 frs-bus:Director1 2023-04-01 2024-03-31 07829276 frs-countries:EnglandWales 2023-04-01 2024-03-31 07829276 2022-03-31 07829276 2023-03-31 07829276 2022-04-01 2023-03-31 07829276 frs-core:CurrentFinancialInstruments 2023-03-31 07829276 frs-core:ShareCapital 2023-03-31 07829276 frs-core:RetainedEarningsAccumulatedLosses 2023-03-31
Registered number: 07829276
K-Stone Limited
Unaudited Financial Statements
For The Year Ended 31 March 2024
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 07829276
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 3,232 4,309
3,232 4,309
CURRENT ASSETS
Stocks 5 - 4,560
Debtors 6 34,238 10,266
Cash at bank and in hand 30,790 59,178
65,028 74,004
Creditors: Amounts Falling Due Within One Year 7 (14,052 ) (9,759 )
NET CURRENT ASSETS (LIABILITIES) 50,976 64,245
TOTAL ASSETS LESS CURRENT LIABILITIES 54,208 68,554
NET ASSETS 54,208 68,554
CAPITAL AND RESERVES
Called up share capital 8 1 1
Profit and Loss Account 54,207 68,553
SHAREHOLDERS' FUNDS 54,208 68,554
Page 1
Page 2
For the year ending 31 March 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
Mr Kosta Hristov
Director
10/09/2024
The notes on pages 3 to 5 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
K-Stone Limited is a private company, limited by shares, incorporated in England & Wales, registered number 07829276 . The registered office is Avondale House,262 Uxbridge Road, Pinner, London, Middlesex, HA5 4HS.
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:
Motor Vehicles 25% Reducing balance
Computer Equipment 25% Reducing balance
2.4. 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.
2.5. 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.
Page 3
Page 4
3. Average Number of Employees
Average number of employees, including directors, during the year was:
2024 2023
Office and administration 2 2
2 2
4. Tangible Assets
Motor Vehicles Computer Equipment Total
£ £ £
Cost
As at 1 April 2023 23,508 1,430 24,938
As at 31 March 2024 23,508 1,430 24,938
Depreciation
As at 1 April 2023 19,325 1,304 20,629
Provided during the period 1,046 31 1,077
As at 31 March 2024 20,371 1,335 21,706
Net Book Value
As at 31 March 2024 3,137 95 3,232
As at 1 April 2023 4,183 126 4,309
5. Stocks
2024 2023
£ £
Work in progress - 4,560
6. Debtors
2024 2023
£ £
Due within one year
Trade debtors 32,229 10,266
VAT 1,443 -
Director's loan account 566 -
34,238 10,266
Page 4
Page 5
7. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 6,241 4,527
Corporation tax 3,919 1,681
Other taxes and social security 2,826 756
VAT - 1,517
Net wages 820 -
Accruals and deferred income 246 838
Director's loan account - 440
14,052 9,759
8. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 1 1
9. Dividends
2024 2023
£ £
On equity shares:
Final dividend paid 30,000 12,000
Page 5