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Registered number: 11415664
Lsa Services Limited
Unaudited Financial Statements
For The Year Ended 31 March 2024
Charts Accountants LLP
Chartered Certified Accountants
17-19 Church Road
Northfield
Birmingham
B31 2JZ
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—7
Page 1
Balance Sheet
Registered number: 11415664
31 March 2024 31 March 2023
Notes £ £ £ £
FIXED ASSETS
Intangible Assets 4 226,998 226,998
Tangible Assets 5 67 3,800
227,065 230,798
CURRENT ASSETS
Stocks 6 2,500 -
Debtors 7 35,404 29,952
Cash at bank and in hand 30,071 8,693
67,975 38,645
Creditors: Amounts Falling Due Within One Year 8 (83,053 ) (61,759 )
NET CURRENT ASSETS (LIABILITIES) (15,078 ) (23,114 )
TOTAL ASSETS LESS CURRENT LIABILITIES 211,987 207,684
Creditors: Amounts Falling Due After More Than One Year 9 (126,710 ) (154,472 )
NET ASSETS 85,277 53,212
CAPITAL AND RESERVES
Called up share capital 11 100 100
Profit and Loss Account 85,177 53,112
SHAREHOLDERS' FUNDS 85,277 53,212
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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 Amin Peerani
Director
2nd September 2024
The notes on pages 3 to 7 form part of these financial statements.
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Notes to the Financial Statements
1. General Information
Lsa Services Limited is a private company, limited by shares, incorporated in England & Wales, registered number 11415664 . The registered office is 87 Pineapple Road, Birmingham, B30 2TB.
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. Intangible Fixed Assets and Amortisation - Goodwill
Goodwill is the difference between amounts paid on the acquisition of a business and the fair value of the separable net assets. It is usually amortised to profit and loss account over its estimated economic life, but the directors have decided that the goodwill has not reduced in value and so have not made any provision for amortisation.  This is a departure from the requirements of FRS102 section 1A small entities.
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:
Plant & Machinery 20% Straight Line basis
Motor Vehicles 25% Straight Line basis
Fixtures & Fittings 25% Straight Line basis
Computer Equipment 25% Straight Line basis
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2.5. Leasing and Hire Purchase Contracts
Assets obtained under finance leases are capitalised as tangible fixed assets. Assets acquired under finance leases are depreciated over the shorter of the lease term and their useful lives. Assets acquired under hire purchase contracts are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in the creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.

Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to profit and loss account as incurred.
2.6. 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.
2.7. Taxation
Corporation 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. Pensions
The company operates a defined pension contribution scheme. Contributions are charged to the profit and loss account as they become payable in accordance with the rules of the scheme.
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2.9. Government Grant
Government grants are recognised in the profit and loss account in an appropriate manner that matches them with the expenditure towards which they are intended to contribute.
Grants for immediate financial support or to cover costs already incurred are recognised immediately in the profit and loss account. Grants towards general activities of the entity over a specific period are recognised in the profit and loss account over that period.
Grants towards fixed assets are recognised over the expected useful lives of the related assets and are treated as deferred income and released to the profit and loss account over the useful life of the asset concerned.
All grants in the profit and loss account are recognised when all conditions for receipt have been complied with.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 5 (2023: 8)
5 8
4. Intangible Assets
Goodwill
£
Cost
As at 1 April 2023 226,998
As at 31 March 2024 226,998
Net Book Value
As at 31 March 2024 226,998
As at 1 April 2023 226,998
5. Tangible Assets
Plant & Machinery Fixtures & Fittings Total
£ £ £
Cost
As at 1 April 2023 57,000 1,000 58,000
Additions - 90 90
As at 31 March 2024 57,000 1,090 58,090
Depreciation
As at 1 April 2023 53,200 1,000 54,200
Provided during the period 3,800 23 3,823
As at 31 March 2024 57,000 1,023 58,023
Net Book Value
As at 31 March 2024 - 67 67
As at 1 April 2023 3,800 - 3,800
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6. Stocks
31 March 2024 31 March 2023
£ £
Stock 2,500 -
7. Debtors
31 March 2024 31 March 2023
£ £
Due within one year
Trade debtors 33,703 29,952
Prepayments and accrued income 1,701 -
35,404 29,952
8. Creditors: Amounts Falling Due Within One Year
31 March 2024 31 March 2023
£ £
Net obligations under finance lease and hire purchase contracts - 6,696
Trade creditors 4,349 822
Bank loans and overdrafts 24,571 24,634
Bounce back loans due in less than 1 year 4,800 4,800
Other creditors 12,189 14,136
Taxation and social security 37,144 10,671
83,053 61,759
9. Creditors: Amounts Falling Due After More Than One Year
31 March 2024 31 March 2023
£ £
Bank loans due after 1 year 93,857 116,819
Bounce back loans due after 1 year 32,853 37,653
126,710 154,472
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10. Obligations Under Finance Leases and Hire Purchase
31 March 2024 31 March 2023
£ £
The future minimum finance lease payments are as follows:
Not later than one year - 6,696
Later than one year and not later than five years - -
- 6,696
- 6,696
11. Share Capital
31 March 2024 31 March 2023
£ £
Allotted, Called up and fully paid 100 100
12. Pension Commitments
The company operates a defined contribution pension scheme for all staff. The assets of the scheme are held separately from those of the company in an independently administered fund. At the balance sheet date unpaid contributions of £693 (previous year £91) were due to the fund. They are included in Other Creditors.
13. Ultimate Controlling Party
The company's ultimate controlling party is Mr Amin Peerani and Mrs Farzana Peerani by virtue of their ownership of 100% of the issued share capital in the company.
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