Acorah Software Products - Accounts Production 16.0.110 false true true 31 May 2024 1 June 2023 false 1 June 2024 7 October 2024 7 October 2024 05814351 Mr Nilesh Parikh Usha Patel iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 05814351 2024-05-31 05814351 2024-10-07 05814351 2024-06-01 2024-10-07 05814351 frs-core:ComputerEquipment 2024-06-01 2024-10-07 05814351 frs-core:FurnitureFittings 2024-06-01 2024-10-07 05814351 frs-core:ShareCapital 2024-10-07 05814351 frs-core:RetainedEarningsAccumulatedLosses 2024-10-07 05814351 frs-bus:PrivateLimitedCompanyLtd 2024-06-01 2024-10-07 05814351 frs-bus:AbridgedAccounts 2024-06-01 2024-10-07 05814351 frs-bus:SmallEntities 2024-06-01 2024-10-07 05814351 frs-bus:AuditExempt-NoAccountantsReport 2024-06-01 2024-10-07 05814351 frs-bus:SmallCompaniesRegimeForAccounts 2024-06-01 2024-10-07 05814351 frs-bus:OrdinaryShareClass1 2024-06-01 2024-10-07 05814351 frs-bus:OrdinaryShareClass1 2024-10-07 05814351 frs-bus:Director1 2024-06-01 2024-10-07 05814351 frs-bus:CompanySecretary1 2024-06-01 2024-10-07 05814351 frs-countries:EnglandWales 2024-06-01 2024-10-07 05814351 2023-05-31 05814351 2024-05-31 05814351 2023-06-01 2024-05-31 05814351 frs-core:ShareCapital 2024-05-31 05814351 frs-core:RetainedEarningsAccumulatedLosses 2024-05-31 05814351 frs-bus:OrdinaryShareClass1 2023-06-01 2024-05-31
Registered number: 05814351
Larkvale Software Limited
Unaudited ABRIDGED Financial Statements
For the Period 1 June 2024 to 7 October 2024
Contents
Page
Abridged Balance Sheet 1—2
Notes to the Abridged Financial Statements 3—5
Page 1
Abridged Balance Sheet
Registered number: 05814351
7 October 2024 31 May 2024
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 - 1,440
- 1,440
CURRENT ASSETS
Cash at bank and in hand 166,897 164,976
166,897 164,976
Creditors: Amounts Falling Due Within One Year (6,513 ) (16,071 )
NET CURRENT ASSETS (LIABILITIES) 160,384 148,905
TOTAL ASSETS LESS CURRENT LIABILITIES 160,384 150,345
NET ASSETS 160,384 150,345
CAPITAL AND RESERVES
Called up share capital 5 2 2
Profit and Loss Account 160,382 150,343
SHAREHOLDERS' FUNDS 160,384 150,345
Page 1
Page 2
For the period ending 7 October 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.
All of the company's members have consented to the preparation of an Abridged Balance Sheet for the year end 7 October 2024 in accordance with section 444(2A) of the Companies Act 2006.
The financial statements were approved by the board of directors on 23 October 2024 and were signed on its behalf by:
Mr Nilesh Parikh
Director
23 October 2024
The notes on pages 3 to 5 form part of these financial statements.
Page 2
Page 3
Notes to the Abridged Financial Statements
1. General Information
Larkvale Software Limited is a private company, limited by shares, incorporated in England & Wales, registered number 05814351 . The registered office is 11/12 Hallmark Trading Centre, Fourth Way, Wembley, Middlesex, HA9 0LB.
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. Going Concern Disclosure
"These accounts are prepared on cessation basis following the members opting for voluntary liquidation of the business.”
2.3. 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.
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:
Fixtures & Fittings 15% Wdv
Computer Equipment 33.33% Cost
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the
carrying value of the asset, and is credited or charged to profit or loss.
2.5. Financial Instruments
The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other
Financial Instruments Issues’ of FRS 102 to all of its financial instruments.
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 liabilities are offset, with the net amounts presented in the financial statements, when there is a
legally 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
Basic financial assets, which include debtors and cash and bank balances, are 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.
Classification of financial liabilities
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements
entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after
deducting all of its liabilities.
Basic financial 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 constitutes 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.
...CONTINUED
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2.5. Financial Instruments - continued
Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.
Trade creditors are obligations to pay for goods or 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.
2.6. 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.
2.7. Equity instruments
Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends
payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.
2.8. Impairment of fixed assets
At each reporting period end date, the company reviews the carrying amounts of its tangible assets to determine whether there is any indication that those asset have suffered an impairement loss. if any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss(if any). Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.
3. Average Number of Employees
Average number of employees, including directors, during the period was: 2 (2024: 2)
2 2
4. Tangible Assets
Total
£
Cost
As at 1 June 2024 2,666
Disposals (2,666 )
As at 7 October 2024 -
Depreciation
As at 1 June 2024 1,226
Provided during the period 155
Disposals (1,381 )
As at 7 October 2024 -
...CONTINUED
Page 4
Page 5
Net Book Value
As at 7 October 2024 -
As at 1 June 2024 1,440
5. Share Capital
7 October 2024 31 May 2024
Allotted, called up and fully paid £ £
2 Ordinary Shares of £ 1.00 each 2 2
Page 5