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 10552903 Mr O Nagy Mrs N Nad iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 10552903 2023-01-31 10552903 2024-01-31 10552903 2023-02-01 2024-01-31 10552903 frs-core:CurrentFinancialInstruments 2024-01-31 10552903 frs-core:ComputerEquipment 2024-01-31 10552903 frs-core:ComputerEquipment 2023-02-01 2024-01-31 10552903 frs-core:ComputerEquipment 2023-01-31 10552903 frs-core:DevelopmentCostsCapitalisedDevelopmentExpenditure 2023-02-01 2024-01-31 10552903 frs-core:OtherResidualIntangibleAssets 2024-01-31 10552903 frs-core:OtherResidualIntangibleAssets 2023-02-01 2024-01-31 10552903 frs-core:OtherResidualIntangibleAssets 2023-01-31 10552903 frs-core:PlantMachinery 2024-01-31 10552903 frs-core:PlantMachinery 2023-02-01 2024-01-31 10552903 frs-core:PlantMachinery 2023-01-31 10552903 frs-core:ShareCapital 2024-01-31 10552903 frs-core:RetainedEarningsAccumulatedLosses 2024-01-31 10552903 frs-bus:PrivateLimitedCompanyLtd 2023-02-01 2024-01-31 10552903 frs-bus:FilletedAccounts 2023-02-01 2024-01-31 10552903 frs-bus:SmallEntities 2023-02-01 2024-01-31 10552903 frs-bus:AuditExemptWithAccountantsReport 2023-02-01 2024-01-31 10552903 frs-bus:SmallCompaniesRegimeForAccounts 2023-02-01 2024-01-31 10552903 frs-bus:Director1 2023-02-01 2024-01-31 10552903 frs-bus:Director2 2023-02-01 2024-01-31 10552903 frs-countries:EnglandWales 2023-02-01 2024-01-31 10552903 2022-01-31 10552903 2023-01-31 10552903 2022-02-01 2023-01-31 10552903 frs-core:CurrentFinancialInstruments 2023-01-31 10552903 frs-core:ShareCapital 2023-01-31 10552903 frs-core:RetainedEarningsAccumulatedLosses 2023-01-31 10552903 frs-core:CurrentFinancialInstruments 1 2023-01-31
Registered number: 10552903
Nagy Solutions Ltd
Unaudited Financial Statements
For The Year Ended 31 January 2024
Sherwin Currid Accountancy Limited
Chartered Certified Accountants
32 London Road
Guildford
Surrey
GU1 2AB
Unaudited Financial Statements
Contents
Page
Accountant's Report 1
Balance Sheet 2—3
Notes to the Financial Statements 4—6
Page 1
Accountant's Report
Report to the directors on the preparation of the unaudited statutory accounts of Nagy Solutions Ltd For The Year Ended 31 January 2024
To assist you to fulfil your duties under the Companies Act 2006, I have prepared for your approval the accounts of Nagy Solutions Ltd which comprise the Profit and Loss Account, the Balance Sheet and the related notes, from the company’s accounting records and from information and explanations you have given us.
As a practising member of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at http://www.accaglobal.com/en/member/professional-standards/rules-standards/acca-rulebook.html.
This report is made to the directors of Nagy Solutions Ltd , as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the accounts of Nagy Solutions Ltd and state those matters that we have agreed to state to the directors of Nagy Solutions Ltd , as a body, in this report in accordance with the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/content/dam/ACCA_Global/Technical/fact/technical-factsheet-163.pdf. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Nagy Solutions Ltd and its directors as a body for our work or for this report.
It is your duty to ensure that Nagy Solutions Ltd has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit or loss of Nagy Solutions Ltd . You consider that Nagy Solutions Ltd is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit or a review of the accounts of Nagy Solutions Ltd . For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the financial statements.
Signed
18 October 2024
Sherwin Currid Accountancy Limited
Chartered Certified Accountants
32 London Road
Guildford
Surrey
GU1 2AB
Page 1
Page 2
Balance Sheet
Registered number: 10552903
2024 2023
Notes £ £ £ £
FIXED ASSETS
Intangible Assets 3 100,279 106,526
Tangible Assets 4 5,522 422
105,801 106,948
CURRENT ASSETS
Debtors 5 20,724 39,568
Cash at bank and in hand 154,630 255,643
175,354 295,211
Creditors: Amounts Falling Due Within One Year 6 (73,867 ) (75,193 )
NET CURRENT ASSETS (LIABILITIES) 101,487 220,018
TOTAL ASSETS LESS CURRENT LIABILITIES 207,288 326,966
PROVISIONS FOR LIABILITIES
Deferred Taxation (1,381 ) (85 )
NET ASSETS 205,907 326,881
CAPITAL AND RESERVES
Called up share capital 7 100 100
Profit and Loss Account 205,807 326,781
SHAREHOLDERS' FUNDS 205,907 326,881
Page 2
Page 3
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 Profit and Loss Account.
On behalf of the board
Mr O Nagy
Director
18 October 2024
The notes on pages 4 to 6 form part of these financial statements.
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Page 4
Notes to the Financial Statements
1. Accounting Policies
1.1. 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.
1.2. 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.
1.3. Intangible Fixed Assets and Amortisation - Other Intangible
Other intangible assets are a portfolio of Cryptocurrency. These assets are held as an investment for capital
appreciation and are not amortised.They are revalued at the end of each accounting period under IAS38.
1.4. 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:
Plant & Machinery 20% straight line
Computer Equipment 33.33% straight line
1.5. 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.
...CONTINUED
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1.5. Taxation - continued
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. Average Number of Employees
Average number of employees, including directors, during the year was as follows: 2 (2023: 2)
2 2
3. Intangible Assets
Other
£
Cost or Valuation
As at 1 February 2023 106,526
Revaluations 83,217
Disposals (89,464 )
As at 31 January 2024 100,279
Net Book Value
As at 31 January 2024 100,279
As at 1 February 2023 106,526
At 31 January 2024 the intangible assets were revalued and the above value is £19,348 below the aquired cost.
4. Tangible Assets
Plant & Machinery Computer Equipment Total
£ £ £
Cost
As at 1 February 2023 1,548 9,803 11,351
Additions - 8,152 8,152
Disposals - (4,184 ) (4,184 )
As at 31 January 2024 1,548 13,771 15,319
Depreciation
As at 1 February 2023 1,548 9,381 10,929
Provided during the period - 3,052 3,052
Disposals - (4,184 ) (4,184 )
As at 31 January 2024 1,548 8,249 9,797
...CONTINUED
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Net Book Value
As at 31 January 2024 - 5,522 5,522
As at 1 February 2023 - 422 422
5. Debtors
2024 2023
£ £
Due within one year
Trade debtors 20,724 32,568
Amounts recoverable on contracts - 7,000
20,724 39,568
6. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Corporation tax 58,192 54,138
VAT 15,249 20,715
Other creditors 206 325
Credit card account - 15
Accruals and deferred income 220 -
73,867 75,193
7. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 100 100
8. General Information
Nagy Solutions Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 10552903 . The registered office is 289 Molesey Road, Hersham, Walton-On-Thames, Surrey, KT12 4QU.
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