Acorah Software Products - Accounts Production 15.0.600 false true 31 March 2023 1 April 2022 false 1 April 2023 31 March 2024 31 March 2024 12367538 S L Bartel P J Kim iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 12367538 2023-03-31 12367538 2024-03-31 12367538 2023-04-01 2024-03-31 12367538 frs-core:CurrentFinancialInstruments 2024-03-31 12367538 frs-core:ShareCapital 2024-03-31 12367538 frs-core:RetainedEarningsAccumulatedLosses 2024-03-31 12367538 frs-bus:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 12367538 frs-bus:FilletedAccounts 2023-04-01 2024-03-31 12367538 frs-bus:SmallEntities 2023-04-01 2024-03-31 12367538 frs-bus:AuditExempt-NoAccountantsReport 2023-04-01 2024-03-31 12367538 frs-bus:SmallCompaniesRegimeForAccounts 2023-04-01 2024-03-31 12367538 frs-bus:Director1 2023-04-01 2024-03-31 12367538 frs-bus:Director2 2023-04-01 2024-03-31 12367538 frs-countries:EnglandWales 2023-04-01 2024-03-31 12367538 2022-03-31 12367538 2023-03-31 12367538 2022-04-01 2023-03-31 12367538 frs-core:CurrentFinancialInstruments 2023-03-31 12367538 frs-core:ShareCapital 2023-03-31 12367538 frs-core:RetainedEarningsAccumulatedLosses 2023-03-31
Registered number: 12367538
Absolutegray Capital Limited
Financial Statements
For The Year Ended 31 March 2024
Contents
Page
Statement of Financial Position 1—2
Notes to the Financial Statements 3—4
Page 1
Statement of Financial Position
Registered number: 12367538
2024 2023
Notes £ £ £ £
CURRENT ASSETS
Debtors 4 (4,107 ) 70,800
(4,107 ) 70,800
Creditors: Amounts Falling Due Within One Year 5 4,307 (42,836 )
NET CURRENT ASSETS (LIABILITIES) 200 27,964
TOTAL ASSETS LESS CURRENT LIABILITIES 200 27,964
NET ASSETS 200 27,964
CAPITAL AND RESERVES
Called up share capital 6 200 200
Income Statement - 27,764
SHAREHOLDERS' FUNDS 200 27,964
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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 Income Statement.
On behalf of the board
S L Bartel
Director
15 October 2024
The notes on pages 3 to 4 form part of these financial statements.
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Page 3
Notes to the Financial Statements
1. General Information
Absolutegray Capital Limited is a private company, limited by shares, incorporated in England & Wales, registered number 12367538 . The registered office is Audley House, 13 Palace Street, London, SW1E 5HX.
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.
As at the balance sheet date, the company was a Joint Venture owned in equal parts by Absolute Return Partners LLP and Gray Swan Financial Services (Pte) Ltd, incorporated in South Africa. These financial statements are not consolidated and represent the financial statements of AbsoluteGray Capital Limited alone.
On 1 April 2024 shares were transferred from Gray Swan Financial Services (Pte) Ltd to Absolute Return Partners LLP such that, as from that date, the company became a 100% subisidiary of Absolute Return Partners LLP.
2.2. Turnover
Revenue is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.
2.3. 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.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 2 (2023: 2)
2 2
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4. Debtors
2024 2023
£ £
Due within one year
Trade debtors - 63,680
Amounts owed by group undertakings (4,307) 6,920
Other debtors 200 200
(4,107 ) 70,800
5. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Amounts owed to group undertakings (4,307 ) 38,023
Other creditors - 2,250
Taxation and social security - 2,563
(4,307 ) 42,836
6. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 200 200
7. Dividends
2024 2023
£ £
On equity shares:
Interim dividend paid 27,389 -
8. Related Party Transactions
As at the balance sheet date, Absolute Return Partners LLP held a 50% interest in Absolutegray Capital Limited.  During the period, this LLP incurred expenditure on behalf of Absolutegray Capital Limited totalling £3,838 (2023: £13,656), and the LLP received amounts totalling £63,680 (2023 nil) on behalf of the company.  In addition, during the period dividends were payable to the LLP amounting to £16,160 (2023 nil).  As at the balance sheet date, £4,307 was due from the LLP (2023: £38,023 due to the LLP).
As at the balance sheet date, Gray Swan Financial Services (Pty) Ltd (incorporated in South Africa) held a 50% interest in Absolutegray Capital Limited.  During the period dividends were payable to the Pty amounting to £11,229.  As at the period end, £4,307 was due to the Pty (2023 £6,920 from the Pty).
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