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 08728596 Mr Christopher Evans Mr Michal Magdziarz Mr Tony King Mr Tosin Reynolds iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 08728596 2023-03-31 08728596 2024-03-31 08728596 2023-04-01 2024-03-31 08728596 frs-core:CurrentFinancialInstruments 2024-03-31 08728596 frs-core:Non-currentFinancialInstruments 2024-03-31 08728596 frs-core:ComputerEquipment 2024-03-31 08728596 frs-core:ComputerEquipment 2023-04-01 2024-03-31 08728596 frs-core:ComputerEquipment 2023-03-31 08728596 frs-core:FurnitureFittings 2024-03-31 08728596 frs-core:FurnitureFittings 2023-04-01 2024-03-31 08728596 frs-core:FurnitureFittings 2023-03-31 08728596 frs-core:ShareCapital 2024-03-31 08728596 frs-core:RetainedEarningsAccumulatedLosses 2024-03-31 08728596 frs-bus:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 08728596 frs-bus:FilletedAccounts 2023-04-01 2024-03-31 08728596 frs-bus:SmallEntities 2023-04-01 2024-03-31 08728596 frs-bus:AuditExempt-NoAccountantsReport 2023-04-01 2024-03-31 08728596 frs-bus:SmallCompaniesRegimeForAccounts 2023-04-01 2024-03-31 08728596 frs-bus:Director1 2023-04-01 2024-03-31 08728596 frs-bus:Director2 2023-04-01 2024-03-31 08728596 frs-bus:Director3 2023-04-01 2024-03-31 08728596 frs-bus:Director4 2023-04-01 2024-03-31 08728596 frs-countries:EnglandWales 2023-04-01 2024-03-31 08728596 2022-03-31 08728596 2023-03-31 08728596 2022-04-01 2023-03-31 08728596 frs-core:CurrentFinancialInstruments 2023-03-31 08728596 frs-core:Non-currentFinancialInstruments 2023-03-31 08728596 frs-core:ShareCapital 2023-03-31 08728596 frs-core:RetainedEarningsAccumulatedLosses 2023-03-31 08728596 frs-core:CurrentFinancialInstruments 1 2023-03-31
Registered number: 08728596
Semetrical Ltd
Unaudited Financial Statements
For The Year Ended 31 March 2024
TaxAssist Accountants
64 Southwark Bridge Road
London
SE1 0AS
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 08728596
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 10,147 12,113
10,147 12,113
CURRENT ASSETS
Debtors 5 493,775 570,771
Cash at bank and in hand 264,177 431,693
757,952 1,002,464
Creditors: Amounts Falling Due Within One Year 6 (331,851 ) (426,878 )
NET CURRENT ASSETS (LIABILITIES) 426,101 575,586
TOTAL ASSETS LESS CURRENT LIABILITIES 436,248 587,699
Creditors: Amounts Falling Due After More Than One Year 7 (149,880 ) (258,260 )
NET ASSETS 286,368 329,439
CAPITAL AND RESERVES
Called up share capital 8 100 100
Profit and Loss Account 286,268 329,339
SHAREHOLDERS' FUNDS 286,368 329,439
Page 1
Page 2
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 Tony King
Director
24 October 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
Semetrical Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 08728596 . The registered office is 64 Southwark Bridge Road, London, SE1 0AS.
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 following bases:
Fixtures & Fittings 25% RDV
Computer Equipment 25% RDV
2.4. Foreign Currencies
Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate ruling on the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
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 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.
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3. Average Number of Employees
Average number of employees, including directors, during the year was: 36 (2023: 52)
36 52
4. Tangible Assets
Fixtures & Fittings Computer Equipment Total
£ £ £
Cost
As at 1 April 2023 41,917 14,162 56,079
Additions - 1,416 1,416
As at 31 March 2024 41,917 15,578 57,495
Depreciation
As at 1 April 2023 35,792 8,174 43,966
Provided during the period 1,531 1,851 3,382
As at 31 March 2024 37,323 10,025 47,348
Net Book Value
As at 31 March 2024 4,594 5,553 10,147
As at 1 April 2023 6,125 5,988 12,113
5. Debtors
2024 2023
£ £
Due within one year
Trade debtors 281,951 431,401
Prepayments and accrued income 203,942 139,370
Corporation tax recoverable assets 7,882 -
493,775 570,771
6. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Bank loans and overdrafts 51,440 72,092
Corporation tax - 9,111
P.A.Y.E. control account 31,246 51,973
VAT 155,252 180,166
Net wages - 11,943
Other creditors - Pension payable 5,500 7,141
Other creditors - Cloudfare Inc - 9,738
Accruals and deferred income 413 1,714
Directors' loan accounts 88,000 83,000
331,851 426,878
7. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Bank loans 149,880 258,260
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Page 5
8. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 100 100
Page 5