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 05633828 Mr Dippin Somaiya Mrs Shila Somaiya Mr Dippin Somaiya iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 05633828 2023-02-28 05633828 2024-02-29 05633828 2023-03-01 2024-02-29 05633828 frs-core:CurrentFinancialInstruments 2024-02-29 05633828 frs-core:Non-currentFinancialInstruments 2024-02-29 05633828 frs-core:FurnitureFittings 2024-02-29 05633828 frs-core:FurnitureFittings 2023-03-01 2024-02-29 05633828 frs-core:FurnitureFittings 2023-02-28 05633828 frs-core:MotorVehicles 2024-02-29 05633828 frs-core:MotorVehicles 2023-03-01 2024-02-29 05633828 frs-core:MotorVehicles 2023-02-28 05633828 frs-core:ShareCapital 2024-02-29 05633828 frs-core:RetainedEarningsAccumulatedLosses 2024-02-29 05633828 frs-bus:PrivateLimitedCompanyLtd 2023-03-01 2024-02-29 05633828 frs-bus:FilletedAccounts 2023-03-01 2024-02-29 05633828 frs-bus:SmallEntities 2023-03-01 2024-02-29 05633828 frs-bus:AuditExempt-NoAccountantsReport 2023-03-01 2024-02-29 05633828 frs-bus:SmallCompaniesRegimeForAccounts 2023-03-01 2024-02-29 05633828 frs-bus:Director1 2023-03-01 2024-02-29 05633828 frs-bus:Director2 2023-03-01 2024-02-29 05633828 frs-bus:CompanySecretary1 2023-03-01 2024-02-29 05633828 frs-countries:EnglandWales 2023-03-01 2024-02-29 05633828 2022-02-28 05633828 2023-02-28 05633828 2022-03-01 2023-02-28 05633828 frs-core:CurrentFinancialInstruments 2023-02-28 05633828 frs-core:Non-currentFinancialInstruments 2023-02-28 05633828 frs-core:ShareCapital 2023-02-28 05633828 frs-core:RetainedEarningsAccumulatedLosses 2023-02-28
Registered number: 05633828
Surepride Limited
Unaudited Financial Statements
For The Year Ended 29 February 2024
Price Mann Limited
Chartered Certified Accountants
Magnolia House, Spring Villa
11 Spring Villa Road
Edgware
HA8 7EB
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 05633828
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 26,713 31,427
26,713 31,427
CURRENT ASSETS
Stocks 5 50,895 38,795
Debtors 6 - 41,091
Cash at bank and in hand 13,393 8,556
64,288 88,442
Creditors: Amounts Falling Due Within One Year 7 (16,794 ) (12,790 )
NET CURRENT ASSETS (LIABILITIES) 47,494 75,652
TOTAL ASSETS LESS CURRENT LIABILITIES 74,207 107,079
Creditors: Amounts Falling Due After More Than One Year 8 (25,617 ) (34,027 )
NET ASSETS 48,590 73,052
CAPITAL AND RESERVES
Called up share capital 9 1,000 1,000
Profit and Loss Account 47,590 72,052
SHAREHOLDERS' FUNDS 48,590 73,052
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 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 Dippin Somaiya
Director
22 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
Surepride Limited is a private company, limited by shares, incorporated in England & Wales, registered number 05633828 . The registered office is Magnolia House, Spring Villa Park, 11 Spring Villa Road, Edgware, HA8 7EB.
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:
Motor Vehicles 15% Reducing balance method
Fixtures & Fittings 15% Reducing balance method
2.4. Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
Page 3
Page 4
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.
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.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 3 (2023: 3)
3 3
4. Tangible Assets
Motor Vehicles Fixtures & Fittings Total
£ £ £
Cost
As at 1 March 2023 8,750 84,764 93,514
As at 29 February 2024 8,750 84,764 93,514
Depreciation
As at 1 March 2023 5,449 56,638 62,087
Provided during the period 495 4,219 4,714
As at 29 February 2024 5,944 60,857 66,801
Net Book Value
As at 29 February 2024 2,806 23,907 26,713
As at 1 March 2023 3,301 28,126 31,427
Page 4
Page 5
5. Stocks
2024 2023
£ £
Work in progress 50,895 38,795
6. Debtors
2024 2023
£ £
Due within one year
Other debtors - 41,091
7. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors - 2
Corporation tax 436 7,884
Other taxes and social security 193 2,595
VAT 2,144 1,424
Directors' loan accounts 14,021 885
16,794 12,790
8. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Bank loans 25,617 34,027
9. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 1,000 1,000
Page 5