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 10599091 Mr Georg Homolatsch Ms Cintia De Almeida Kimura iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 10599091 2023-03-31 10599091 2024-03-31 10599091 2023-04-01 2024-03-31 10599091 frs-core:CurrentFinancialInstruments 2024-03-31 10599091 frs-core:ComputerEquipment 2024-03-31 10599091 frs-core:ComputerEquipment 2023-04-01 2024-03-31 10599091 frs-core:ComputerEquipment 2023-03-31 10599091 frs-core:DevelopmentCostsCapitalisedDevelopmentExpenditure 2024-03-31 10599091 frs-core:DevelopmentCostsCapitalisedDevelopmentExpenditure 2023-04-01 2024-03-31 10599091 frs-core:DevelopmentCostsCapitalisedDevelopmentExpenditure 2023-03-31 10599091 frs-core:SharePremium 2024-03-31 10599091 frs-core:ShareCapital 2024-03-31 10599091 frs-core:RetainedEarningsAccumulatedLosses 2024-03-31 10599091 frs-bus:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 10599091 frs-bus:FilletedAccounts 2023-04-01 2024-03-31 10599091 frs-bus:SmallEntities 2023-04-01 2024-03-31 10599091 frs-bus:AuditExempt-NoAccountantsReport 2023-04-01 2024-03-31 10599091 frs-bus:SmallCompaniesRegimeForAccounts 2023-04-01 2024-03-31 10599091 frs-bus:Director1 2023-04-01 2024-03-31 10599091 frs-bus:Director2 2023-04-01 2024-03-31 10599091 frs-countries:EnglandWales 2023-04-01 2024-03-31 10599091 2022-03-31 10599091 2023-03-31 10599091 2022-04-01 2023-03-31 10599091 frs-core:CurrentFinancialInstruments 2023-03-31 10599091 frs-core:SharePremium 2023-03-31 10599091 frs-core:ShareCapital 2023-03-31 10599091 frs-core:RetainedEarningsAccumulatedLosses 2023-03-31
Registered number: 10599091
KG Protech 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: 10599091
2024 2023
Notes £ £ £ £
FIXED ASSETS
Intangible Assets 4 11,519 29,424
11,519 29,424
CURRENT ASSETS
Stocks 6 - 997
Debtors 7 574 549
Cash at bank and in hand 224 157
798 1,703
Creditors: Amounts Falling Due Within One Year 8 (38,494 ) (39,614 )
NET CURRENT ASSETS (LIABILITIES) (37,696 ) (37,911 )
TOTAL ASSETS LESS CURRENT LIABILITIES (26,177 ) (8,487 )
NET LIABILITIES (26,177 ) (8,487 )
CAPITAL AND RESERVES
Called up share capital 9 532 532
Share premium account 74,968 74,968
Profit and Loss Account (101,677 ) (83,987 )
SHAREHOLDERS' FUNDS (26,177) (8,487)
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 members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their 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 Georg Homolatsch
Director
10 October 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
KG Protech Limited is a private company, limited by shares, incorporated in England & Wales, registered number 10599091 . The registered office is 73 Cornhill, London, EC3V 3QQ.
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. Research and Development
In the research phase of an internal project it is not possible to demonstrate that the project will generate future economic benefits and hence all expenditure on research is recognised as an expense when it is incurred. Intangible assets are recognised from the development phase of a project if and only if certain specific criteria are met in order to demonstrate the asset will generate probable future economic benefits and that its cost can be reliably measured. The capitalised development costs are subsequently amortised to ... on a straight line basis over their expected useful economic lives, which range from ... to ... years.
If it is not possible to distinguish between the research phase and the development phase of an internal project the expenditure is treated as if it were all incurred in the research phase only.
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:
Computer Equipment 3 years straight line
2.5. 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.
2.6. 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 profit.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 2 (2023: 2)
2 2
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4. Intangible Assets
Development Costs
£
Cost
As at 1 April 2023 90,660
As at 31 March 2024 90,660
Amortisation
As at 1 April 2023 61,236
Provided during the period 17,905
As at 31 March 2024 79,141
Net Book Value
As at 31 March 2024 11,519
As at 1 April 2023 29,424
5. Tangible Assets
Computer Equipment
£
Cost
As at 1 April 2023 3,936
As at 31 March 2024 3,936
Depreciation
As at 1 April 2023 3,936
As at 31 March 2024 3,936
Net Book Value
As at 31 March 2024 -
As at 1 April 2023 -
6. Stocks
2024 2023
£ £
Stock - 997
7. Debtors
2024 2023
£ £
Due within one year
VAT 190 165
Other taxes and social security 384 384
574 549
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8. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Directors' loan accounts 38,494 39,614
9. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 532 532
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