Acorah Software Products - Accounts Production 16.0.110 false true 28 February 2023 1 March 2022 false 1 March 2023 29 February 2024 29 February 2024 06130474 Mr John Abram iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 06130474 2023-02-28 06130474 2024-02-29 06130474 2023-03-01 2024-02-29 06130474 frs-core:CurrentFinancialInstruments 2024-02-29 06130474 frs-core:ComputerEquipment 2024-02-29 06130474 frs-core:ComputerEquipment 2023-03-01 2024-02-29 06130474 frs-core:ComputerEquipment 2023-02-28 06130474 frs-core:DevelopmentCostsCapitalisedDevelopmentExpenditure 2023-03-01 2024-02-29 06130474 frs-core:FurnitureFittings 2024-02-29 06130474 frs-core:FurnitureFittings 2023-03-01 2024-02-29 06130474 frs-core:FurnitureFittings 2023-02-28 06130474 frs-core:OtherResidualIntangibleAssets 2024-02-29 06130474 frs-core:OtherResidualIntangibleAssets 2023-03-01 2024-02-29 06130474 frs-core:OtherResidualIntangibleAssets 2023-02-28 06130474 frs-core:ShareCapital 2024-02-29 06130474 frs-core:RetainedEarningsAccumulatedLosses 2024-02-29 06130474 frs-bus:PrivateLimitedCompanyLtd 2023-03-01 2024-02-29 06130474 frs-bus:FilletedAccounts 2023-03-01 2024-02-29 06130474 frs-bus:SmallEntities 2023-03-01 2024-02-29 06130474 frs-bus:AuditExempt-NoAccountantsReport 2023-03-01 2024-02-29 06130474 frs-bus:SmallCompaniesRegimeForAccounts 2023-03-01 2024-02-29 06130474 frs-bus:Director1 2023-03-01 2024-02-29 06130474 frs-bus:Director1 2023-02-28 06130474 frs-bus:Director1 2024-02-29 06130474 frs-countries:EnglandWales 2023-03-01 2024-02-29 06130474 2022-02-28 06130474 2023-02-28 06130474 2022-03-01 2023-02-28 06130474 frs-core:CurrentFinancialInstruments 2023-02-28 06130474 frs-core:Non-currentFinancialInstruments 2023-02-28 06130474 frs-core:ShareCapital 2023-02-28 06130474 frs-core:RetainedEarningsAccumulatedLosses 2023-02-28
Registered number: 06130474
Monetical Limited
Unaudited Financial Statements
For The Year Ended 29 February 2024
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 06130474
2024 2023
Notes £ £ £ £
FIXED ASSETS
Intangible Assets 4 3,578 5,956
Tangible Assets 5 172 344
3,750 6,300
CURRENT ASSETS
Debtors 6 88,918 129,636
Cash at bank and in hand 110 110
89,028 129,746
Creditors: Amounts Falling Due Within One Year 7 (93,101 ) (156,485 )
NET CURRENT ASSETS (LIABILITIES) (4,073 ) (26,739 )
TOTAL ASSETS LESS CURRENT LIABILITIES (323 ) (20,439 )
NET LIABILITIES (323 ) (20,439 )
CAPITAL AND RESERVES
Called up share capital 8 1,000 1,000
Profit and Loss Account (1,323 ) (21,439 )
SHAREHOLDERS' FUNDS (323) (20,439)
Page 1
Page 2
For the year 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
Mr John Abram
Director
25/11/2024
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
Monetical Limited is a private company, limited by shares, incorporated in England & Wales, registered number 06130474 . The registered office is 4 Quern House, Mill Court, Great Shelford, Cambridge, CB22 5LD.
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. Intangible Fixed Assets and Amortisation - Other Intangible
Other intangible assets are .... It is amortised to profit and loss account over its estimated economic life of 10 years.
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 4 years straigh-line on cost
Computer Equipment 3 years straigh-line on cost
2.4. 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.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 1 (2023: 1)
1 1
Page 3
Page 4
4. Intangible Assets
Other
£
Cost
As at 1 March 2023 174,593
As at 29 February 2024 174,593
Amortisation
As at 1 March 2023 168,637
Provided during the period 2,378
As at 29 February 2024 171,015
Net Book Value
As at 29 February 2024 3,578
As at 1 March 2023 5,956
5. Tangible Assets
Fixtures & Fittings Computer Equipment Total
£ £ £
Cost
As at 1 March 2023 2,289 5,825 8,114
As at 29 February 2024 2,289 5,825 8,114
Depreciation
As at 1 March 2023 2,289 5,481 7,770
Provided during the period - 172 172
As at 29 February 2024 2,289 5,653 7,942
Net Book Value
As at 29 February 2024 - 172 172
As at 1 March 2023 - 344 344
6. Debtors
2024 2023
£ £
Due within one year
Trade debtors - 22,558
Other debtors 2,703 2,703
Corporation tax recoverable assets 3,933 -
Director's loan account 82,282 100,442
88,918 125,703
Due after more than one year
Corporation tax recoverable assets - 3,933
88,918 129,636
Page 4
Page 5
7. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 10,150 66,559
Bank loans and overdrafts 35,247 37,066
Corporation tax 31,480 30,395
VAT 11,424 17,665
Other creditors 4,800 4,800
93,101 156,485
8. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 1,000 1,000
9. Directors Advances, Credits and Guarantees
Included within Debtors are the following loans to directors:
As at 1 March 2023 Amounts advanced Amounts repaid Amounts written off As at 29 February 2024
£ £ £ £ £
Mr John Abram 100,442 - 18,160 - 82,282
The above loan is unsecured, interest chargeable at the HMRC beneficial rate and repayable on demand.
Page 5