Acorah Software Products - Accounts Production 15.0.600 false true 30 June 2023 1 July 2022 false 10 October 2024 1 July 2023 30 June 2024 30 June 2024 05187654 Mr Mohammad Abdullah Shabbir Qureshi Mrs Saima Qureshi Mrs Saima Qureshi iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 05187654 2023-06-30 05187654 2024-06-30 05187654 2023-07-01 2024-06-30 05187654 frs-core:CurrentFinancialInstruments 2024-06-30 05187654 frs-core:ComputerEquipment 2024-06-30 05187654 frs-core:ComputerEquipment 2023-07-01 2024-06-30 05187654 frs-core:ComputerEquipment 2023-06-30 05187654 frs-core:DevelopmentCostsCapitalisedDevelopmentExpenditure 2023-07-01 2024-06-30 05187654 frs-core:FurnitureFittings 2024-06-30 05187654 frs-core:FurnitureFittings 2023-07-01 2024-06-30 05187654 frs-core:FurnitureFittings 2023-06-30 05187654 frs-core:OtherResidualIntangibleAssets 2024-06-30 05187654 frs-core:OtherResidualIntangibleAssets 2023-07-01 2024-06-30 05187654 frs-core:OtherResidualIntangibleAssets 2023-06-30 05187654 frs-core:SharePremium 2024-06-30 05187654 frs-core:ShareCapital 2024-06-30 05187654 frs-core:RetainedEarningsAccumulatedLosses 2024-06-30 05187654 frs-bus:PrivateLimitedCompanyLtd 2023-07-01 2024-06-30 05187654 frs-bus:FilletedAccounts 2023-07-01 2024-06-30 05187654 frs-bus:SmallEntities 2023-07-01 2024-06-30 05187654 frs-bus:Audited 2023-07-01 2024-06-30 05187654 frs-bus:SmallCompaniesRegimeForAccounts 2023-07-01 2024-06-30 05187654 frs-core:DeferredTaxation 2023-07-01 2024-06-30 05187654 frs-core:DeferredTaxation 2024-06-30 05187654 frs-bus:Director1 2023-07-01 2024-06-30 05187654 frs-bus:Director2 2023-07-01 2024-06-30 05187654 frs-bus:CompanySecretary1 2023-07-01 2024-06-30 05187654 frs-countries:EnglandWales 2023-07-01 2024-06-30 05187654 2022-06-30 05187654 2023-06-30 05187654 2022-07-01 2023-06-30 05187654 frs-core:CurrentFinancialInstruments 2023-06-30 05187654 frs-core:SharePremium 2023-06-30 05187654 frs-core:ShareCapital 2023-06-30 05187654 frs-core:RetainedEarningsAccumulatedLosses 2023-06-30
Registered number: 05187654
UNIVERSAL SECURITIES & INVESTMENTS LIMITED
Financial Statements
For The Year Ended 30 June 2024
Contents
Page
Company Information 1
Balance Sheet 2—3
Notes to the Financial Statements 4—7
Page 1
Company Information
Directors Mr Mohammad Abdullah Shabbir Qureshi
Mrs Saima Qureshi
Secretary Mrs Saima Qureshi
Company Number 05187654
Registered Office Suite 327 Linen Hall
162-168 Regent Street
London
W1B 5TB
Accountants Nabaile Young UK Ltd
Chartered Certified Accountants
334 Slade Lane
Manchester
M19 2BL
Auditor                                           
                                                       ARK Accountants 
                                                       334 Slade Lane
                                                       Manchester
                                                       M19 2BL
Bankers 
                                                       Crown Bank 
                                                       Clear Bank
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Balance Sheet
Registered number: 05187654
2024 2023
Notes £ £ £ £
FIXED ASSETS
Intangible Assets 4 144,209 121,821
Tangible Assets 5 - 3,721
Long term deposits 17,855 -
162,064 125,542
CURRENT ASSETS
Debtors 6 102,912 138,510
Cash at bank 374,200 25,977
477,112 164,487
Creditors: Amounts Falling Due Within One Year 7 (257,459 ) (73,721 )
NET CURRENT ASSETS (LIABILITIES) 219,653 90,766
TOTAL ASSETS LESS CURRENT LIABILITIES 381,717 216,308
PROVISIONS FOR LIABILITIES
Deferred Taxation (3,610 ) -
NET ASSETS 378,107 216,308
CAPITAL AND RESERVES
Called up share capital 9 150,001 150,001
Share premium account 79,140 79,140
Profit and Loss Account 148,966 (12,833 )
SHAREHOLDERS' FUNDS 378,107 216,308
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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 Mohammad Abdullah Shabbir Qureshi
Director
7 October 2024
The notes on pages 4 to 7 form part of these financial statements.
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Notes to the Financial Statements
1. General Information
UNIVERSAL SECURITIES & INVESTMENTS LIMITED is a private company, limited by shares, incorporated in England & Wales, registered number 05187654 . The registered office is Suite 327 Linen Hall, 162-168 Regent Street, London, W1B 5TB.
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
The company acts as payment service provider holding an API licence assisting business and individuals to make payments overseas. Authorised and regulated since 2004. 
Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. Revenue is recognized upon execution of underlying foreign remittance transactions
2.3. Intangible Fixed Assets and Amortisation - Other Intangible
Intangible assets include the licenses for processing international payments. Intangible assets are recognized at cost, which includes all directly attributable costs necessary to prepare the asset for its intended use. Intangible assets are amortized on a systematic basis over their estimated useful life of 10 years, with amortization recognized as an expense in the profit and loss account. The useful life of intangible assets is assessed at recognition and reviewed annually, ensuring appropriate accounting treatment and impairment testing is conducted when necessary.
2.4. Tangible Fixed Assets and Depreciation
Tangible fixed assets are initially recognized at cost, which includes all directly attributable costs necessary to bring the asset to the location and condition for its intended use. Subsequent costs are included in the asset’s carrying amount only if it is probable that future economic benefits will flow to the company, with all other maintenance and repair costs charged to the profit and loss account as incurred. Tangible fixed assets are reviewed for impairment whenever events or changes in circumstances indicate that the carrying amount may not be recoverable, and any impairment losses are recognized in the profit and loss account. Upon disposal, the gain or loss is calculated by comparing the proceeds with the carrying amount and is recognized in the profit and loss account.

Depreciation is recognized using following rates:
Fixtures & Fittings 25% Writing down value
Computer Equipment 25% Writing down value
2.5. Financial Instruments
Financial assets and liabilities are initially recognized at transaction price, except when the arrangement constitutes a financing transaction, in which case they are measured at the present value of future payments discounted at a market rate of interest. Subsequently, financial instruments, including listed investments, are measured at fair value through profit or loss, with any changes in fair value recognized in the income statement. Financial assets that are not carried at fair value through profit or loss are assessed for objective evidence of impairment at each reporting date to determine whether an impairment loss should be recognized.Trade debtors are measured at transaction price less any provisions for impairment.
2.6. Foreign Currencies
Transactions in foreign currencies are recorded at the exchange rate prevailing at the date of the transaction. Foreign currency monetary items are translated at the closing rate at the end of the reporting period. Exchange differences arising from the settlement of monetary items or from the translation of monetary items at rates different from those at which they were initially recorded or reported in previous financial statements are recognized in the profit and loss account in the period in which they arise. Non-monetary items measured at historical cost in a foreign currency are not re-translated. The company does not currently engage in any foreign currency hedging activities.
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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 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.
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.
2.8. Cash and Cash Equivalents
Cash and cash equivalents include cash in hand, deposits held at call with banks, and other short-term liquid investments that are readily convertible to known amounts of cash and subject to an insignificant risk of changes in value. Current assets include cash at bank only as of 30 June 2024.
2.9. Provisions
Provisions are recognized when the company has a present obligation (legal or constructive) as a result of a past event, and it is probable that the company will be required to settle the obligation and the amount of the obligation can be reliably estimated. Provisions are measured at the best estimate of the expenditure required to settle the obligation at the reporting date.
2.10. Employee Benefits
The company contributes to a defined contribution pension scheme for its employees. Contributions are recognized as an expense when employees have rendered services entitling them to the contributions.
2.11.  Related Party Transactions
The company discloses transactions with related parties in accordance with FRS 102 Section 1A. Related party transactions are disclosed only when they are material to the understanding of the financial statements. Transactions with directors, such as loans or other benefits, are disclosed regardless of materiality.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 13 (2023: 6)
13 6
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4. Intangible Assets
Other
£
Cost
As at 1 July 2023 235,935
Additions 51,090
As at 30 June 2024 287,025
Amortisation
As at 1 July 2023 114,114
Provided during the period 28,702
As at 30 June 2024 142,816
Net Book Value
As at 30 June 2024 144,209
As at 1 July 2023 121,821
5. Tangible Assets
Fixtures & Fittings Computer Equipment Total
£ £ £
Cost
As at 1 July 2023 63,431 13,773 77,204
As at 30 June 2024 63,431 13,773 77,204
Depreciation
As at 1 July 2023 60,972 12,511 73,483
Provided during the period 2,459 1,262 3,721
As at 30 June 2024 63,431 13,773 77,204
Net Book Value
As at 30 June 2024 - - -
As at 1 July 2023 2,459 1,262 3,721
6. Debtors
2024 2023
£ £
Due within one year
Trade debtors 102,912 113,635
Other debtors - 24,875
102,912 138,510
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7. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 29,899 -
Bank loans and overdrafts - 23,139
Other creditors 193,001 50,582
Taxation and social security 34,559 -
257,459 73,721
8. Provisions for Liabilities
Deferred Tax Total
£ £
Deferred taxation 3,610 3,610
Balance at 30 June 2024 3,610 3,610
9. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 150,001 150,001
10. Related Party Transactions
During the year the company entered following transactions with director (Mr Abdullah Qureshi) 
                                                                                                                      2024                2023
                                                                                                                         £                     £
Salaries and benefits                                                                                       57,083              2,667
Expenses paid on behalf of company                                                                16,507                  -
11. Subsequent events
There were no subsequent events requiring disclosure in the financial statements.
12. Audit Information
The auditors report on the account of UNIVERSAL SECURITIES & INVESTMENTS LIMITED for the year ended 30 June 2024 was unqualified
The auditor's report was signed by Muhammad Kashif (Senior Statutory Auditor) for and on behalf of ARK Accountants & Auditors Ltd , Statutory Auditor
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