Acorah Software Products - Accounts Production 15.0.600 false true 31 October 2022 1 November 2021 false 1 November 2022 31 October 2023 31 October 2023 10754789 Mr Thomas Mayer Kito Asset Holding Ltd iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 10754789 2022-10-31 10754789 2023-10-31 10754789 2022-11-01 2023-10-31 10754789 frs-core:CurrentFinancialInstruments 2023-10-31 10754789 frs-core:Non-currentFinancialInstruments 2023-10-31 10754789 frs-core:MotorVehicles 2023-10-31 10754789 frs-core:MotorVehicles 2022-11-01 2023-10-31 10754789 frs-core:MotorVehicles 2022-10-31 10754789 frs-core:ShareCapital 2023-10-31 10754789 frs-core:RetainedEarningsAccumulatedLosses 2023-10-31 10754789 frs-bus:PrivateLimitedCompanyLtd 2022-11-01 2023-10-31 10754789 frs-bus:FilletedAccounts 2022-11-01 2023-10-31 10754789 frs-bus:SmallEntities 2022-11-01 2023-10-31 10754789 frs-bus:AuditExempt-NoAccountantsReport 2022-11-01 2023-10-31 10754789 frs-bus:SmallCompaniesRegimeForAccounts 2022-11-01 2023-10-31 10754789 frs-bus:OrdinaryShareClass1 2022-11-01 2023-10-31 10754789 frs-bus:OrdinaryShareClass1 2023-10-31 10754789 frs-bus:Director1 2022-11-01 2023-10-31 10754789 frs-bus:Director1 2022-10-31 10754789 frs-bus:Director1 2023-10-31 10754789 frs-bus:CompanySecretary1 2022-11-01 2023-10-31 10754789 frs-core:CurrentFinancialInstruments 3 2023-10-31 10754789 frs-countries:EnglandWales 2022-11-01 2023-10-31 10754789 2021-10-31 10754789 2022-10-31 10754789 2021-11-01 2022-10-31 10754789 frs-core:CurrentFinancialInstruments 2022-10-31 10754789 frs-core:Non-currentFinancialInstruments 2022-10-31 10754789 frs-core:ShareCapital 2022-10-31 10754789 frs-core:RetainedEarningsAccumulatedLosses 2022-10-31 10754789 frs-bus:OrdinaryShareClass1 2021-11-01 2022-10-31 10754789 frs-core:CurrentFinancialInstruments 3 2022-10-31
Registered number: 10754789
Discovered Limited
Financial Statements
For The Year Ended 31 October 2023
Simple Accounting NW Ltd
4-4a Blackburn Road
Accrington
BB5 1HD
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—4
Page 1
Balance Sheet
Registered number: 10754789
2023 2022
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 15,728 2,520
15,728 2,520
CURRENT ASSETS
Debtors 5 35,993 111,304
Cash at bank and in hand 89,644 55,031
125,637 166,335
Creditors: Amounts Falling Due Within One Year 6 (111,332 ) (134,873 )
NET CURRENT ASSETS (LIABILITIES) 14,305 31,462
TOTAL ASSETS LESS CURRENT LIABILITIES 30,033 33,982
Creditors: Amounts Falling Due After More Than One Year (94,196 ) (104,358 )
NET LIABILITIES (64,163 ) (70,376 )
CAPITAL AND RESERVES
Called up share capital 7 100 100
Profit and Loss Account (64,263 ) (70,476 )
SHAREHOLDERS' FUNDS (64,163) (70,376)
Page 1
Page 2
For the year ending 31 October 2023 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 Thomas Mayer
Director
8 October 2024
The notes on pages 3 to 4 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Discovered Limited is a private company, limited by shares, incorporated in England & Wales, registered number 10754789 . The registered office is 4-4a Blackburn Road, Accrington, England, BB5 1HD.
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 20% reducing balance
3. Average Number of Employees
Average number of employees, including directors, during the year was: 18 (2022: 17)
18 17
4. Tangible Assets
Motor Vehicles
£
Cost
As at 1 November 2022 5,000
Additions 17,140
As at 31 October 2023 22,140
Depreciation
As at 1 November 2022 2,480
Provided during the period 3,932
As at 31 October 2023 6,412
Net Book Value
As at 31 October 2023 15,728
As at 1 November 2022 2,520
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Page 4
5. Debtors
2023 2022
£ £
Due within one year
Trade debtors 65,230 110,227
Prepayments and accrued income 2,060 674
Other debtors 8,500 -
Building Services Kito (41,786 ) 403
Director's loan account 1,989 -
35,993 111,304
6. Creditors: Amounts Falling Due Within One Year
2023 2022
£ £
Trade creditors 12,439 86,751
Bank loans and overdrafts 332 3,988
Other taxes and social security 36,315 21,786
Net wages 38,481 -
Pension creditor 3,384 2,743
Accruals and deferred income 20,381 19,580
Director's loan account - 25
111,332 134,873
7. Share Capital
2023 2022
Allotted, called up and fully paid £ £
100 Ordinary Shares of £ 1.000 each 100 100
8. Directors Advances, Credits and Guarantees
Included within Debtors are the following loans to directors:
As at 1 November 2022 Amounts advanced Amounts repaid Amounts written off As at 31 October 2023
£ £ £ £ £
Mr Thomas Mayer 25 2,150 135 - 1,990
The above loan is unsecured, interest free and repayable on demand.
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