Acorah Software Products - Accounts Production 16.0.110 false true true 31 January 2023 1 February 2022 false 1 February 2023 31 January 2024 31 January 2024 05971888 Mr Dilipkumar Darjee Dilipkumar Darjee true iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 05971888 2023-01-31 05971888 2024-01-31 05971888 2023-02-01 2024-01-31 05971888 frs-core:CurrentFinancialInstruments 2024-01-31 05971888 frs-core:PlantMachinery 2024-01-31 05971888 frs-core:PlantMachinery 2023-02-01 2024-01-31 05971888 frs-core:PlantMachinery 2023-01-31 05971888 frs-core:ShareCapital 2024-01-31 05971888 frs-core:RetainedEarningsAccumulatedLosses 2024-01-31 05971888 frs-bus:PrivateLimitedCompanyLtd 2023-02-01 2024-01-31 05971888 frs-bus:FilletedAccounts 2023-02-01 2024-01-31 05971888 frs-bus:SmallEntities 2023-02-01 2024-01-31 05971888 frs-bus:AuditExemptWithAccountantsReport 2023-02-01 2024-01-31 05971888 frs-bus:SmallCompaniesRegimeForAccounts 2023-02-01 2024-01-31 05971888 1 2023-02-01 2024-01-31 05971888 frs-bus:Director1 2023-02-01 2024-01-31 05971888 frs-countries:EnglandWales 2023-02-01 2024-01-31 05971888 2022-01-31 05971888 2023-01-31 05971888 2022-02-01 2023-01-31 05971888 frs-core:CurrentFinancialInstruments 2023-01-31 05971888 frs-core:ShareCapital 2023-01-31 05971888 frs-core:RetainedEarningsAccumulatedLosses 2023-01-31
Registered number: 05971888
Specsmania Limited
Financial Statements
For The Year Ended 31 January 2024
DJ Coulter & Associates Limited
Chartered Certified Accountants
Wellesley House
7 Clarence Parade
Cheltenham
GL50 3NY
Contents
Page
Accountants' Report 1
Balance Sheet 2—3
Notes to the Financial Statements 4—6
Page 1
Accountants' Report
Report to the director on the preparation of the unaudited statutory accounts of Specsmania Limited for the year ended 31 January 2024
To assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Specsmania Limited which comprise the Profit and Loss Account, the Balance Sheet and the related notes, from the company’s accounting records and from information and explanations you have given us.
As a practising member firm of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at http://www.accaglobal.com/en/member/professional-standards/rules-standards/acca-rulebook.html.
This report is made to the director of Specsmania Limited , as a body, in accordance with the terms of our engagement letter dated 25 October 2019. Our work has been undertaken solely to prepare for your approval the accounts of Specsmania Limited and state those matters that we have agreed to state to the director of Specsmania Limited , as a body, in this report in accordance with the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/content/dam/ACCA_Global/Technical/fact/technical-factsheet-163.pdf. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Specsmania Limited and its director as a body for our work or for this report.
It is your duty to ensure that Specsmania Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit or loss of Specsmania Limited . You consider that Specsmania Limited is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit or a review of the accounts of Specsmania Limited . For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the financial statements.
Signed
7th November 2024
DJ Coulter & Associates Limited
Chartered Certified Accountants
Wellesley House
7 Clarence Parade
Cheltenham
GL50 3NY
Page 1
Page 2
Balance Sheet
Registered number: 05971888
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 329 522
329 522
CURRENT ASSETS
Debtors 5 - 434
Cash at bank and in hand 115 321
115 755
Creditors: Amounts Falling Due Within One Year 6 (190,350 ) (189,601 )
NET CURRENT ASSETS (LIABILITIES) (190,235 ) (188,846 )
TOTAL ASSETS LESS CURRENT LIABILITIES (189,906 ) (188,324 )
NET LIABILITIES (189,906 ) (188,324 )
CAPITAL AND RESERVES
Called up share capital 7 100 100
Profit and Loss Account (190,006 ) (188,424 )
SHAREHOLDERS' FUNDS (189,906) (188,324)
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Page 3
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 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
Mr Dilipkumar Darjee
Director
7th November 2024
The notes on pages 4 to 6 form part of these financial statements.
Page 3
Page 4
Notes to the Financial Statements
1. General Information
Specsmania Limited Registered number 05971888 is a limited by shares company incorporated in England & Wales. The Registered Office is 5 Nicola Close, Harrow, Middlesex, HA3 5HP.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements are prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008).
2.2. Going Concern Disclosure
The director has not identified any material uncertainties related to events or conditions that may cast significant doubt about the company's ability to continue as a going concern.
2.3. 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.
2.4. Tangible Fixed Assets and Depreciation
Tangible fixed assets are stated at cost less depreciation. 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:
Plant & Machinery 25% reducing balance
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.
...CONTINUED
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2.5. Taxation - continued
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.
2.6. Registrar Filing Requirements
The company has taken advantage of Companies Act 2006 section 444(1) and opted not to file the profit and loss account, directors report, and notes to the financial statements relating to the profit and loss account.
3. Average Number of Employees
Average number of employees, including directors, during the year was: NIL (2023: NIL)
- -
4. Tangible Assets
Plant & Machinery
£
Cost
As at 1 February 2023 1,943
Disposals (314 )
As at 31 January 2024 1,629
Depreciation
As at 1 February 2023 1,421
Provided during the period 110
Disposals (231 )
As at 31 January 2024 1,300
Net Book Value
As at 31 January 2024 329
As at 1 February 2023 522
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5. Debtors
2024 2023
£ £
Due within one year
VAT - 434
6. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors - 237
Bank loans and overdrafts 1,200 1,582
Accruals and deferred income 328 312
Director's loan account 188,822 187,470
190,350 189,601
7. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 100 100
8. Ultimate Controlling Party
The company's ultimate controlling party is Dilipkumar Darjee by virtue of his ownership of 100% of the issued share capital in the company.
Page 6