Acorah Software Products - Accounts Production 15.0.600 false true 31 January 2023 1 February 2022 false 1 February 2023 31 January 2024 31 January 2024 05326972 A L Austin-Crowe C Austin-Crowe A L Austin-Crowe iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 05326972 2023-01-31 05326972 2024-01-31 05326972 2023-02-01 2024-01-31 05326972 frs-core:CurrentFinancialInstruments 2024-01-31 05326972 frs-core:ComputerEquipment 2024-01-31 05326972 frs-core:ComputerEquipment 2023-02-01 2024-01-31 05326972 frs-core:ComputerEquipment 2023-01-31 05326972 frs-core:RevaluationReserve 2023-01-31 05326972 frs-core:RevaluationReserve 2024-01-31 05326972 frs-core:ShareCapital 2024-01-31 05326972 frs-core:RetainedEarningsAccumulatedLosses 2024-01-31 05326972 frs-bus:PrivateLimitedCompanyLtd 2023-02-01 2024-01-31 05326972 frs-bus:FilletedAccounts 2023-02-01 2024-01-31 05326972 frs-bus:SmallEntities 2023-02-01 2024-01-31 05326972 frs-bus:AuditExempt-NoAccountantsReport 2023-02-01 2024-01-31 05326972 frs-bus:SmallCompaniesRegimeForAccounts 2023-02-01 2024-01-31 05326972 frs-bus:OrdinaryShareClass2 2023-02-01 2024-01-31 05326972 frs-bus:OrdinaryShareClass2 2024-01-31 05326972 frs-bus:OrdinaryShareClass3 2023-02-01 2024-01-31 05326972 frs-bus:OrdinaryShareClass3 2024-01-31 05326972 frs-bus:Director1 2023-02-01 2024-01-31 05326972 frs-bus:Director2 2023-02-01 2024-01-31 05326972 frs-bus:CompanySecretary1 2023-02-01 2024-01-31 05326972 frs-countries:EnglandWales 2023-02-01 2024-01-31 05326972 2022-01-31 05326972 2023-01-31 05326972 2022-02-01 2023-01-31 05326972 frs-core:CurrentFinancialInstruments 2023-01-31 05326972 frs-core:RevaluationReserve 2023-01-31 05326972 frs-core:ShareCapital 2023-01-31 05326972 frs-core:RetainedEarningsAccumulatedLosses 2023-01-31 05326972 frs-bus:OrdinaryShareClass2 2022-02-01 2023-01-31 05326972 frs-bus:OrdinaryShareClass3 2022-02-01 2023-01-31
Registered number: 05326972
Chad 38 Limited
Financial Statements
For The Year Ended 31 January 2024
Contents
Page
Statement of Financial Position 1—2
Notes to the Financial Statements 3—5
Page 1
Statement of Financial Position
Registered number: 05326972
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 450 -
Investment Properties 5 1,200,000 1,200,000
1,200,450 1,200,000
CURRENT ASSETS
Debtors 6 2,000 2,000
Cash at bank and in hand 21,992 10,318
23,992 12,318
Creditors: Amounts Falling Due Within One Year 7 (736,373 ) (740,209 )
NET CURRENT ASSETS (LIABILITIES) (712,381 ) (727,891 )
TOTAL ASSETS LESS CURRENT LIABILITIES 488,069 472,109
PROVISIONS FOR LIABILITIES
Deferred Taxation (90,375 ) (90,375 )
NET ASSETS 397,694 381,734
CAPITAL AND RESERVES
Called up share capital 8 2 2
Revaluation reserve 9 361,500 361,500
Income Statement 36,192 20,232
SHAREHOLDERS' FUNDS 397,694 381,734
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For the year ending 31 January 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 Income Statement.
On behalf of the board
A L Austin-Crowe
Director
11th 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
Chad 38 Limited is a private company, limited by shares, incorporated in England & Wales, registered number 05326972 . The registered office is Meadow House Lower Kingsbury, Milborne Port, Sherborne, DT9 5ED.
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:
Computer Equipment 25% straight line
2.4. Investment Properties
All investment properties are carried at fair value determined annually and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided for. Changes in fair value are recognised in the income statement.
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 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.
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3. Average Number of Employees
Average number of employees, including directors, during the year was: 2 (2023: 2)
2 2
4. Tangible Assets
Computer Equipment
£
Cost
As at 1 February 2023 -
Additions 600
As at 31 January 2024 600
Depreciation
As at 1 February 2023 -
Provided during the period 150
As at 31 January 2024 150
Net Book Value
As at 31 January 2024 450
As at 1 February 2023 -
5. Investment Property
2024
£
Fair Value
As at 1 February 2023 and 31 January 2024 1,200,000
6. Debtors
2024 2023
£ £
Due within one year
Trade debtors 2,000 2,000
7. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Other creditors 717,507 720,380
Taxation and social security 18,866 19,829
736,373 740,209
8. Share Capital
2024 2023
Allotted, called up and fully paid £ £
1 Ordinary A shares of £ 1.00 each 1 1
1 Ordinary B shares of £ 1.00 each 1 1
2 2
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9. Reserves
Revaluation Reserve
£
As at 1 February 2023 361,500
As at 31 January 2024 361,500
Page 5