Acorah Software Products - Accounts Production 15.0.600 false true false 6 February 2023 29 February 2024 29 February 2024 14643670 Rajah Abdul-Ghafar Akthar the director true iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 14643670 2023-02-05 14643670 2024-02-29 14643670 2023-02-06 2024-02-29 14643670 frs-core:CurrentFinancialInstruments 2024-02-29 14643670 frs-core:ShareCapital 2024-02-29 14643670 frs-core:RetainedEarningsAccumulatedLosses 2024-02-29 14643670 frs-bus:PrivateLimitedCompanyLtd 2023-02-06 2024-02-29 14643670 frs-bus:FilletedAccounts 2023-02-06 2024-02-29 14643670 frs-bus:SmallEntities 2023-02-06 2024-02-29 14643670 frs-bus:AuditExempt-NoAccountantsReport 2023-02-06 2024-02-29 14643670 frs-bus:SmallCompaniesRegimeForAccounts 2023-02-06 2024-02-29 14643670 1 2023-02-06 2024-02-29 14643670 frs-core:UnlistedNon-exchangeTraded 2024-02-29 14643670 frs-core:UnlistedNon-exchangeTraded 2023-02-05 14643670 frs-core:CostValuation frs-core:UnlistedNon-exchangeTraded 2023-02-05 14643670 frs-core:AdditionsToInvestments frs-core:UnlistedNon-exchangeTraded 2024-02-29 14643670 frs-core:CostValuation frs-core:UnlistedNon-exchangeTraded 2024-02-29 14643670 frs-core:ProvisionsForImpairmentInvestments frs-core:UnlistedNon-exchangeTraded 2023-02-05 14643670 frs-core:ProvisionsForImpairmentInvestments frs-core:UnlistedNon-exchangeTraded 2024-02-29 14643670 frs-bus:Director1 2023-02-06 2024-02-29 14643670 frs-countries:EnglandWales 2023-02-06 2024-02-29
Registered number: 14643670
Developise Holdings Ltd
Unaudited Financial Statements
For the Period 6 February 2023 to 29 February 2024
Unaudited Financial Statements
Contents
Page
Balance Sheet 1
Notes to the Financial Statements 2—3
Page 1
Balance Sheet
Registered number: 14643670
29 February 2024
Notes £ £
FIXED ASSETS
Investments 3 2
2
CURRENT ASSETS
Debtors 4 84,500
Cash at bank and in hand 7,000
91,500
Creditors: Amounts Falling Due Within One Year 5 (37,433 )
NET CURRENT ASSETS (LIABILITIES) 54,067
TOTAL ASSETS LESS CURRENT LIABILITIES 54,069
NET ASSETS 54,069
CAPITAL AND RESERVES
Called up share capital 6 1
Profit and Loss Account 54,068
SHAREHOLDERS' FUNDS 54,069
For the period ending 29 February 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.
On behalf of the board
Rajah Abdul-Ghafar Akthar
Director
18 July 2024
The notes on pages 2 to 3 form part of these financial statements.
Page 1
Page 2
Notes to the Financial Statements
1. Accounting Policies
1.1. 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.
1.2. Turnover
Revenue is recognised to the extent that the company obtains the right to consideration in exchange for its performance. Revenue is measured at the fair value of the consideration received, excluding discounts, rebates, VAT and other sales taxes or duty. The following criteria must also be met before revenue is recognised:
Dividends income
Revenue is recognised when the right to receive payment is established.
1.3. 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.
2. Average Number of Employees
Average number of employees, including directors, during the year was as follows: 1
1
3. Investments
Unlisted
£
Cost
As at 6 February 2023 -
Additions 2
As at 29 February 2024 2
Provision
As at 6 February 2023 -
As at 29 February 2024 -
Net Book Value
As at 29 February 2024 2
As at 6 February 2023 -
Investment includes investment in the shares of unlisted subsidiary companies which are recognized at cost less impairment as the fair value cannot be measured reliably. Any impairment loss in relation to the investment is recognized in the income statement.
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4. Debtors
29 February 2024
£
Due within one year
Amounts owed by subsidiaries 84,500
84,500
5. Creditors: Amounts Falling Due Within One Year
29 February 2024
£
Accruals and deferred income 432
Director's loan account 9,001
Amounts owed to subsidiaries 28,000
37,433
6. Share Capital
29 February 2024
£
Allotted, Called up and fully paid 1
7. Related Party Transactions
Included in creditors due within one year is an amount of £9,001 owed to its directors and an amount of £28,000 owed to its subsidiary company. The amount is interest free and repayable on demand.
Included in debtors due within one year is an amount of £84,500 owed by its subsidiary company. The amount is interest free and repayable on demand.
8. Ultimate Controlling Party
The company's ultimate controlling party is the director by virtue of the ownership of 100% of the issued share capital in the company.
9. General Information
Developise Holdings Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 14643670 . The registered office is 20-22 Wenlock Road, London, N1 7GU.
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