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 09388119 Mr Zhong Zhuang iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 09388119 2023-01-31 09388119 2024-01-31 09388119 2023-02-01 2024-01-31 09388119 frs-core:CurrentFinancialInstruments 2024-01-31 09388119 frs-core:Non-currentFinancialInstruments 2024-01-31 09388119 frs-core:MotorVehicles 2024-01-31 09388119 frs-core:MotorVehicles 2023-02-01 2024-01-31 09388119 frs-core:MotorVehicles 2023-01-31 09388119 frs-core:PlantMachinery 2024-01-31 09388119 frs-core:PlantMachinery 2023-02-01 2024-01-31 09388119 frs-core:PlantMachinery 2023-01-31 09388119 frs-core:ShareCapital 2024-01-31 09388119 frs-core:RetainedEarningsAccumulatedLosses 2024-01-31 09388119 frs-bus:PrivateLimitedCompanyLtd 2023-02-01 2024-01-31 09388119 frs-bus:FilletedAccounts 2023-02-01 2024-01-31 09388119 frs-bus:SmallEntities 2023-02-01 2024-01-31 09388119 frs-bus:AuditExempt-NoAccountantsReport 2023-02-01 2024-01-31 09388119 frs-bus:SmallCompaniesRegimeForAccounts 2023-02-01 2024-01-31 09388119 frs-bus:Director1 2023-02-01 2024-01-31 09388119 frs-countries:EnglandWales 2023-02-01 2024-01-31 09388119 2022-01-31 09388119 2023-01-31 09388119 2022-02-01 2023-01-31 09388119 frs-core:CurrentFinancialInstruments 2023-01-31 09388119 frs-core:Non-currentFinancialInstruments 2023-01-31 09388119 frs-core:ShareCapital 2023-01-31 09388119 frs-core:RetainedEarningsAccumulatedLosses 2023-01-31
Registered number: 09388119
MAIYEAR LIMITED
Unaudited Financial Statements
For The Year Ended 31 January 2024
LABAIT PROFESSIONALS LIMITED
Institute of Financial Accountants
Unit 1
17 Castle Street
Chester
England
CH1 2DS
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 09388119
2024 2023
Notes £ £ £ £
FIXED ASSETS
CURRENT ASSETS
Debtors 5 125,700 137,388
Cash at bank and in hand 9,134 9,720
134,834 147,108
Creditors: Amounts Falling Due Within One Year 6 (61,642 ) (19,196 )
NET CURRENT ASSETS (LIABILITIES) 73,192 127,912
TOTAL ASSETS LESS CURRENT LIABILITIES 73,192 127,912
Creditors: Amounts Falling Due After More Than One Year 7 (14,859 ) (16,967 )
NET ASSETS 58,333 110,945
CAPITAL AND RESERVES
Called up share capital 8 240,000 240,000
Profit and Loss Account (181,667 ) (129,055 )
SHAREHOLDERS' FUNDS 58,333 110,945
Page 1
Page 2
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 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 Zhong Zhuang
Director
23/10/2024
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
MAIYEAR LIMITED is a private company, limited by shares, incorporated in England & Wales, registered number 09388119 . The registered office is 22 Tewkesbury Road, Carshalton, SM5 1QH.
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 rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
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:
Plant & Machinery Straight Line 25%
Motor Vehicles Straight Line 25%
2.4. Financial Instruments
The company has elected to apply the provisions of Section 11 'Basic Financial Instruments FRS 102' to all of its financial instrument.

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

Financial assets and liability are offset, with the net amounts present in the financial statements, when there is a legal enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets, which include debtors and cash and bank balance, and initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidence a residual interest in the assets of the company after deducting all of its liabilities.

Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitute a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instrument are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 2 (2023: 2)
2 2
Page 3
Page 4
4. Tangible Assets
Plant & Machinery Motor Vehicles Total
£ £ £
Cost
As at 1 February 2023 574 66,000 66,574
As at 31 January 2024 574 66,000 66,574
Depreciation
As at 1 February 2023 574 66,000 66,574
As at 31 January 2024 574 66,000 66,574
Net Book Value
As at 31 January 2024 - - -
As at 1 February 2023 - - -
5. Debtors
2024 2023
£ £
Due within one year
Prepayments and accrued income - 11,688
Other debtors 125,700 125,700
125,700 137,388
6. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors (1 ) (1 )
Other loans - 2,055
Net wages 2,492 2,322
Other creditors 16,688 198
Accruals and deferred income 1,512 1,841
Director's loan account 40,951 12,781
61,642 19,196
7. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Bank loans 14,859 16,967
8. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 240,000 240,000
Page 4
Page 5
9. Related Party Transactions
At the start of the accounting year, the opening balance of the directors' loans owned by the company was £12,780.73
During the year,  the director of Mr Zhong Zhuang withdrew £14,754.25 and company also borrowed £42,924.48 from the director Mr Zhong Zhuang.
The closing balance of directors' loans owned by the company at the end of the accounting year is £40,950.96
Page 5