Acorah Software Products - Accounts Production 15.0.600 false true 31 August 2023 2 August 2022 false 1 September 2023 31 August 2024 31 August 2024 14271436 Mr Yigit Akar Mr Alexander Allen Mr Malcom Brinded iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 14271436 2023-08-31 14271436 2024-08-31 14271436 2023-09-01 2024-08-31 14271436 frs-core:CurrentFinancialInstruments 2024-08-31 14271436 frs-core:Non-currentFinancialInstruments 2024-08-31 14271436 frs-core:ComputerEquipment 2024-08-31 14271436 frs-core:ComputerEquipment 2023-09-01 2024-08-31 14271436 frs-core:ComputerEquipment 2023-08-31 14271436 frs-core:SharePremium 2024-08-31 14271436 frs-core:ShareCapital 2024-08-31 14271436 frs-core:RetainedEarningsAccumulatedLosses 2024-08-31 14271436 frs-bus:PrivateLimitedCompanyLtd 2023-09-01 2024-08-31 14271436 frs-bus:FilletedAccounts 2023-09-01 2024-08-31 14271436 frs-bus:SmallEntities 2023-09-01 2024-08-31 14271436 frs-bus:AuditExempt-NoAccountantsReport 2023-09-01 2024-08-31 14271436 frs-bus:SmallCompaniesRegimeForAccounts 2023-09-01 2024-08-31 14271436 frs-bus:Director1 2023-09-01 2024-08-31 14271436 frs-bus:Director2 2023-09-01 2024-08-31 14271436 frs-bus:Director3 2023-09-01 2024-08-31 14271436 frs-countries:EnglandWales 2023-09-01 2024-08-31 14271436 2022-08-01 14271436 2023-08-31 14271436 2022-08-02 2023-08-31 14271436 frs-core:CurrentFinancialInstruments 2023-08-31 14271436 frs-core:Non-currentFinancialInstruments 2023-08-31 14271436 frs-core:SharePremium 2023-08-31 14271436 frs-core:ShareCapital 2023-08-31 14271436 frs-core:RetainedEarningsAccumulatedLosses 2023-08-31
Registered number: 14271436
Xwatts Ltd
Unaudited Financial Statements
For The Year Ended 31 August 2024
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—4
Page 1
Balance Sheet
Registered number: 14271436
31 August 2024 31 August 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 10,669 3,646
10,669 3,646
CURRENT ASSETS
Debtors 5 4,702 7,025
Cash at bank and in hand 802,870 345,866
807,572 352,891
Creditors: Amounts Falling Due Within One Year 6 (31,049 ) (13,943 )
NET CURRENT ASSETS (LIABILITIES) 776,523 338,948
TOTAL ASSETS LESS CURRENT LIABILITIES 787,192 342,594
Creditors: Amounts Falling Due After More Than One Year 7 - (451,000 )
NET ASSETS/(LIABILITIES) 787,192 (108,406 )
CAPITAL AND RESERVES
Called up share capital 8 1 1
Share premium account 1,505,919 120,000
Profit and Loss Account (718,728 ) (228,407 )
SHAREHOLDERS' FUNDS 787,192 (108,406)
Page 1
Page 2
For the year ending 31 August 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 Yigit Akar
Director
4 November 2024
The notes on pages 3 to 4 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Xwatts Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 14271436 . The registered office is The Bradfield Centre, 184 Cambridge Science Park, Milton Road, Cambridge, CB4 0GA.
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:
Computer Equipment 25% straight line
3. Average Number of Employees
Average number of employees, including directors, during the year was: 4 (2023: 2)
4 2
4. Tangible Assets
Computer Equipment
£
Cost
As at 1 September 2023 4,138
Additions 10,743
As at 31 August 2024 14,881
Depreciation
As at 1 September 2023 492
Provided during the period 3,720
As at 31 August 2024 4,212
Net Book Value
As at 31 August 2024 10,669
As at 1 September 2023 3,646
Page 3
Page 4
5. Debtors
31 August 2024 31 August 2023
£ £
Due within one year
VAT 4,702 7,025
6. Creditors: Amounts Falling Due Within One Year
31 August 2024 31 August 2023
£ £
Other taxes and social security 27,973 11,488
Net wages 622 774
Directors' loan accounts 2,454 1,681
31,049 13,943
7. Creditors: Amounts Falling Due After More Than One Year
31 August 2024 31 August 2023
£ £
Other creditors - 451,000
8. Share Capital
31 August 2024 31 August 2023
£ £
Allotted, Called up and fully paid 1 1
Page 4