Acorah Software Products - Accounts Production 16.0.110 false true 28 February 2023 1 March 2022 true No description of principal activity 1 March 2023 29 February 2024 29 February 2024 12487133 Mr T Sebatigita Miss N Yombo iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 12487133 2023-02-28 12487133 2024-02-29 12487133 2023-03-01 2024-02-29 12487133 frs-core:CurrentFinancialInstruments 2024-02-29 12487133 frs-core:Non-currentFinancialInstruments 2024-02-29 12487133 frs-core:PlantMachinery 2024-02-29 12487133 frs-core:PlantMachinery 2023-03-01 2024-02-29 12487133 frs-core:PlantMachinery 2023-02-28 12487133 frs-core:ShareCapital 2024-02-29 12487133 frs-core:RetainedEarningsAccumulatedLosses 2024-02-29 12487133 frs-bus:PrivateLimitedCompanyLtd 2023-03-01 2024-02-29 12487133 frs-bus:FullAccounts 2023-03-01 2024-02-29 12487133 frs-bus:SmallEntities 2023-03-01 2024-02-29 12487133 frs-bus:AuditExempt-NoAccountantsReport 2023-03-01 2024-02-29 12487133 frs-bus:SmallCompaniesRegimeForAccounts 2023-03-01 2024-02-29 12487133 frs-bus:SmallCompaniesRegimeForDirectorsReport 2023-03-01 2024-02-29 12487133 frs-bus:Director1 2023-03-01 2024-02-29 12487133 frs-bus:Director1 2024-02-29 12487133 frs-bus:Director2 2023-03-01 2024-02-29 12487133 frs-bus:Director2 2024-02-29 12487133 frs-countries:EnglandWales 2023-03-01 2024-02-29 12487133 2022-02-28 12487133 2023-02-28 12487133 2022-03-01 2023-02-28 12487133 frs-core:CurrentFinancialInstruments 2023-02-28 12487133 frs-core:Non-currentFinancialInstruments 2023-02-28 12487133 frs-core:ShareCapital 2023-02-28 12487133 frs-core:RetainedEarningsAccumulatedLosses 2023-02-28
Registered number: 12487133
Ranees Group UK Limited
Directors' Report and
Unaudited Financial Statements
For The Year Ended 29 February 2024
Contents
Page
Company Information 1
Directors' Report 2
Profit and Loss Account 3
Balance Sheet 4—5
Notes to the Financial Statements 6—7
Page 1
Company Information
Directors Mr T Sebatigita
Miss N Yombo
Company Number 12487133
Registered Office 21 Stockwell Lane
London
SW9 0SS
Page 1
Page 2
Directors' Report
The directors present their report and the financial statements for the year ended 29 February 2024.
Directors
The directors who held office during the year were as follows:
Mr T Sebatigita Appointed 23/03/2023
Miss N Yombo Appointed 01/08/2023
Statement of Directors' Responsibilities
The directors are responsible for preparing the Directors' Report and the financial statements in accordance with applicable law and regulations.
Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing the financial statements the directors are required to:
  • select suitable accounting policies and then apply them consistently;
  • make judgments and accounting estimates that are reasonable and prudent;
  • prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.
The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
The directors are responsible for the maintenance and integrity of the corporate and financial information included on the company's website. Legislation in the United Kingdom governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.
Small Company Rules
This report has been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.
On behalf of the board
Mr T Sebatigita
Director
28/11/2024
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Profit and Loss Account
2024 2023
Notes £ £
TURNOVER 6,579,482 6,357,189
Cost of sales (5,471,715 ) (5,296,344 )
GROSS PROFIT 1,107,767 1,060,845
Administrative expenses (864,790 ) (909,280 )
OPERATING PROFIT 242,977 151,565
Interest payable and similar charges (296 ) (205 )
PROFIT BEFORE TAXATION 242,681 151,360
Tax on Profit (103 ) (754 )
PROFIT AFTER TAXATION BEING PROFIT FOR THE FINANCIAL YEAR 242,578 150,606
The notes on pages 6 to 7 form part of these financial statements.
Page 3
Page 4
Balance Sheet
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 491,449 249,178
491,449 249,178
CURRENT ASSETS
Debtors 5 326,782 310,342
Cash at bank and in hand 103,144 81,605
429,926 391,947
Creditors: Amounts Falling Due Within One Year 6 (206,601 ) (187,252 )
NET CURRENT ASSETS (LIABILITIES) 223,325 204,695
TOTAL ASSETS LESS CURRENT LIABILITIES 714,774 453,873
Creditors: Amounts Falling Due After More Than One Year 7 (202,559 ) (184,236 )
NET ASSETS 512,215 269,637
CAPITAL AND RESERVES
Called up share capital 8 1 1
Profit and Loss Account 512,214 269,636
SHAREHOLDERS' FUNDS 512,215 269,637
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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 in accordance with the provisions applicable to companies subject to the small companies regime.
On behalf of the board
Mr T Sebatigita
Director
28/11/2024
The notes on pages 6 to 7 form part of these financial statements.
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Page 6
Notes to the Financial Statements
1. General Information
Ranees Group UK Limited is a private company, limited by shares, incorporated in England & Wales, registered number 12487133 . The registered office is 21 Stockwell Lane, London, SW9 0SS.
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:
Plant & Machinery 15% reducing balance basis
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 and deferred tax are recognised in profit or loss for the year, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case current and deferred tax are 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: 9 (2023: 9)
9 9
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4. Tangible Assets
Plant & Machinery
£
Cost
As at 1 March 2023 312,857
Additions 328,998
As at 29 February 2024 641,855
Depreciation
As at 1 March 2023 63,679
Provided during the period 86,727
As at 29 February 2024 150,406
Net Book Value
As at 29 February 2024 491,449
As at 1 March 2023 249,178
5. Debtors
2024 2023
£ £
Due within one year
Trade debtors 321,740 307,165
Other debtors 5,042 3,177
326,782 310,342
6. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 182,014 165,486
Corporation tax 103 754
Other taxes and social security 15,706 13,292
Other creditors 8,778 7,720
206,601 187,252
7. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Other creditors 202,559 184,236
8. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 1 1
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