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 11128698 Mr Baldeep Matharu Mr Hartej Matharu Mr Resham Matharu Baldeep Matharu, Hartej Matharu, Resham Matharu true iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 11128698 2023-01-31 11128698 2024-01-31 11128698 2023-02-01 2024-01-31 11128698 frs-core:CurrentFinancialInstruments 2024-01-31 11128698 frs-core:Non-currentFinancialInstruments 2024-01-31 11128698 frs-core:ComputerEquipment 2024-01-31 11128698 frs-core:ComputerEquipment 2023-02-01 2024-01-31 11128698 frs-core:ComputerEquipment 2023-01-31 11128698 frs-core:FurnitureFittings 2024-01-31 11128698 frs-core:FurnitureFittings 2023-02-01 2024-01-31 11128698 frs-core:FurnitureFittings 2023-01-31 11128698 frs-core:InvestmentPropertyIncludedWithinPPE 2024-01-31 11128698 frs-core:InvestmentPropertyIncludedWithinPPE 2023-02-01 2024-01-31 11128698 frs-core:InvestmentPropertyIncludedWithinPPE 2023-01-31 11128698 frs-core:ShareCapital 2024-01-31 11128698 frs-core:RetainedEarningsAccumulatedLosses 2024-01-31 11128698 frs-bus:PrivateLimitedCompanyLtd 2023-02-01 2024-01-31 11128698 frs-bus:FilletedAccounts 2023-02-01 2024-01-31 11128698 frs-bus:SmallEntities 2023-02-01 2024-01-31 11128698 frs-bus:AuditExempt-NoAccountantsReport 2023-02-01 2024-01-31 11128698 frs-bus:SmallCompaniesRegimeForAccounts 2023-02-01 2024-01-31 11128698 1 2023-02-01 2024-01-31 11128698 frs-bus:Director1 2023-02-01 2024-01-31 11128698 frs-bus:Director2 2023-02-01 2024-01-31 11128698 frs-bus:Director3 2023-02-01 2024-01-31 11128698 frs-countries:EnglandWales 2023-02-01 2024-01-31 11128698 2022-01-31 11128698 2023-01-31 11128698 2022-02-01 2023-01-31 11128698 frs-core:CurrentFinancialInstruments 2023-01-31 11128698 frs-core:Non-currentFinancialInstruments 2023-01-31 11128698 frs-core:ShareCapital 2023-01-31 11128698 frs-core:RetainedEarningsAccumulatedLosses 2023-01-31
Registered number: 11128698
Akaal Holdings Limited
Unaudited Financial Statements
For The Year Ended 31 January 2024
Calculated Ltd
Unaudited Financial Statements
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 11128698
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 300 173,281
300 173,281
CURRENT ASSETS
Debtors 5 189,088 126,193
Cash at bank and in hand 819 149,767
189,907 275,960
Creditors: Amounts Falling Due Within One Year 6 (870 ) (4,001 )
NET CURRENT ASSETS (LIABILITIES) 189,037 271,959
TOTAL ASSETS LESS CURRENT LIABILITIES 189,337 445,240
Creditors: Amounts Falling Due After More Than One Year 7 (261,372 ) (439,528 )
NET (LIABILITIES)/ASSETS (72,035 ) 5,712
CAPITAL AND RESERVES
Called up share capital 8 3 3
Profit and Loss Account (72,038 ) 5,709
SHAREHOLDERS' FUNDS (72,035) 5,712
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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 Baldeep Matharu
Director
30/10/2024
The notes on pages 3 to 5 form part of these financial statements.
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Notes to the Financial Statements
1. General Information
Akaal Holdings Limited is a private company, limited by shares, incorporated in England & Wales, registered number 11128698 . The registered office is 66 Ernest Road, Hornchurch, England, RM11 3JW.
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. 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 bases below. Computer equipment has been changed to 33% from 15% in prior years.
Fixtures & Fittings 25% SL
Computer Equipment 33% RB
2.4. Investment Properties
All investment properties are carried at fair value determined annually and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided for. Changes in fair value are recognised in the profit and loss account.
2.5. 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 year 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 asset reflects 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: 3 (2023: 3)
3 3
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4. Tangible Assets
Investment Properties Fixtures & Fittings Computer Equipment Total
£ £ £ £
Cost
As at 1 February 2023 170,149 4,939 3,774 178,862
Disposals (170,149 ) (4,499 ) (3,184 ) (177,832 )
As at 31 January 2024 - 440 590 1,030
Depreciation
As at 1 February 2023 - 2,820 2,761 5,581
Provided during the period - 45 59 104
Disposals - (2,606 ) (2,349 ) (4,955 )
As at 31 January 2024 - 259 471 730
Net Book Value
As at 31 January 2024 - 181 119 300
As at 1 February 2023 170,149 2,119 1,013 173,281
5. Debtors
2024 2023
£ £
Due within one year
Prepayments and accrued income - 1,677
Other debtors 15,000 93,095
15,000 94,772
Due after more than one year
Amounts owed by associates 174,088 31,421
174,088 31,421
189,088 126,193
6. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Corporation tax - 3,571
Accruals and deferred income 870 430
870 4,001
7. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Bank loans - 102,765
Directors loan account 261,372 336,763
261,372 439,528
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8. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 3 3
9. Related Party Transactions
Baldeep Matharu, Hartej Matharu, Resham MatharuDirectorsIn the year the directors provided the company with unsecured loans of £261,372 (2023 : £336,763). There is no interest charged on the loan and there are no fixed repayment terms.

Baldeep Matharu, Hartej Matharu, Resham Matharu

Directors

In the year the directors provided the company with unsecured loans of £261,372 (2023 : £336,763). There is no interest charged on the loan and there are no fixed repayment terms.

Akaal Fitness LimitedAssociated companyIn the year the Akaal Holdings Limited provided an associated company with an unsecured loan. The balance at the year end was £174,088 (2023 : £31,421). There is no interest charged on the loan and there are no fixed repayment terms.

Akaal Fitness Limited

Associated company

In the year the Akaal Holdings Limited provided an associated company with an unsecured loan. The balance at the year end was £174,088 (2023 : £31,421). There is no interest charged on the loan and there are no fixed repayment terms.

10. Ultimate Controlling Party
The company's ultimate controlling party is Baldeep Matharu, Hartej Matharu, Resham Matharu by virtue of their ownership of 100% of the issued share capital in the company.
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