Acorah Software Products - Accounts Production 16.0.110 false true true 31 March 2023 1 April 2022 false 1 April 2023 31 March 2024 31 March 2024 6303601 Mrs Gurdeep Kaur Sanghera Dr Gurbakhash Singh Sanghera Mrs Gurdeep Kaur Sanghera iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 6303601 2023-03-31 6303601 2024-03-31 6303601 2023-04-01 2024-03-31 6303601 frs-core:CurrentFinancialInstruments 2024-03-31 6303601 frs-core:Non-currentFinancialInstruments 2024-03-31 6303601 frs-core:ComputerEquipment 2024-03-31 6303601 frs-core:ComputerEquipment 2023-04-01 2024-03-31 6303601 frs-core:ComputerEquipment 2023-03-31 6303601 frs-core:NetGoodwill 2024-03-31 6303601 frs-core:NetGoodwill 2023-04-01 2024-03-31 6303601 frs-core:NetGoodwill 2023-03-31 6303601 frs-core:PlantMachinery 2024-03-31 6303601 frs-core:PlantMachinery 2023-04-01 2024-03-31 6303601 frs-core:PlantMachinery 2023-03-31 6303601 frs-core:ShareCapital 2024-03-31 6303601 frs-core:RetainedEarningsAccumulatedLosses 2024-03-31 6303601 frs-bus:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 6303601 frs-bus:FilletedAccounts 2023-04-01 2024-03-31 6303601 frs-bus:SmallEntities 2023-04-01 2024-03-31 6303601 frs-bus:AuditExempt-NoAccountantsReport 2023-04-01 2024-03-31 6303601 frs-bus:SmallCompaniesRegimeForAccounts 2023-04-01 2024-03-31 6303601 frs-bus:Director1 2023-04-01 2024-03-31 6303601 frs-bus:Director2 2023-04-01 2024-03-31 6303601 frs-bus:CompanySecretary1 2023-04-01 2024-03-31 6303601 frs-countries:EnglandWales 2023-04-01 2024-03-31 6303601 2022-03-31 6303601 2023-03-31 6303601 2022-04-01 2023-03-31 6303601 frs-core:CurrentFinancialInstruments 2023-03-31 6303601 frs-core:Non-currentFinancialInstruments 2023-03-31 6303601 frs-core:ShareCapital 2023-03-31 6303601 frs-core:RetainedEarningsAccumulatedLosses 2023-03-31
Registered number: 6303601
Leicester Circuits Limited
Unaudited Financial Statements
For The Year Ended 31 March 2024
Smith Hannah Limited
Chartered Certified Accountants
50 Woodgate
Leicester
LE3 5GF
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 6303601
2024 2023
Notes £ £ £ £
FIXED ASSETS
Intangible Assets 4 3 3
3 3
CURRENT ASSETS
Stocks 197,800 159,300
Debtors 6 293,072 365,202
Cash at bank and in hand 64 18
490,936 524,520
Creditors: Amounts Falling Due Within One Year 7 (550,163 ) (551,820 )
NET CURRENT ASSETS (LIABILITIES) (59,227 ) (27,300 )
TOTAL ASSETS LESS CURRENT LIABILITIES (59,224 ) (27,297 )
Creditors: Amounts Falling Due After More Than One Year 8 (102,165 ) (165,162 )
NET LIABILITIES (161,389 ) (192,459 )
CAPITAL AND RESERVES
Called up share capital 100 100
Profit and Loss Account (161,489 ) (192,559 )
SHAREHOLDERS' FUNDS (161,389) (192,459)
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
Dr Gurbakhash Singh Sanghera
Director
15th November 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
Leicester Circuits Limited is a private company, limited by shares, incorporated in England & Wales, registered number 6303601 . The registered office is Omni House , Sheene Road, Leicester, LE4 1BF.
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. Going Concern Disclosure
The directors have 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.
2.4. Intangible Fixed Assets and Amortisation - Goodwill
Goodwill is not amortised.
2.5. 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:
Plant & Machinery 15 - 25% straight line
Computer Equipment 15 - 25% straight line
2.6. 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.
...CONTINUED
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2.6. Taxation - continued
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: 7 (2023: 7)
7 7
4. Intangible Assets
Goodwill
£
Cost
As at 1 April 2023 3
As at 31 March 2024 3
Net Book Value
As at 31 March 2024 3
As at 1 April 2023 3
5. Tangible Assets
Plant & Machinery Computer Equipment Total
£ £ £
Cost
As at 1 April 2023 175,225 15,670 190,895
As at 31 March 2024 175,225 15,670 190,895
Depreciation
As at 1 April 2023 175,225 15,670 190,895
As at 31 March 2024 175,225 15,670 190,895
Net Book Value
As at 31 March 2024 - - -
As at 1 April 2023 - - -
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6. Debtors
2024 2023
£ £
Due within one year
Trade debtors 259,079 281,945
Other debtors 33,993 83,257
293,072 365,202
7. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 378,871 427,134
Bank loans and overdrafts 64,052 64,199
Other taxes and social security 103,834 57,131
Other creditors 3,406 3,356
550,163 551,820
8. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Bank loans 102,165 165,162
9. Secured Creditors
Of the creditors the following amounts are secured.
2024 2023
£ £
Trade Creditors 218,864 240,516
Bank loans and overdrafts 165,162 228,161
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