Acorah Software Products - Accounts Production 16.0.110 false true 28 February 2023 1 March 2022 false 1 March 2023 28 February 2024 28 February 2024 NI650762 Catherine Rainey Mr Vincent Rainey iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure NI650762 2023-02-28 NI650762 2024-02-28 NI650762 2023-03-01 2024-02-28 NI650762 frs-core:CurrentFinancialInstruments 2024-02-28 NI650762 frs-core:Non-currentFinancialInstruments 2024-02-28 NI650762 frs-core:FurnitureFittings 2024-02-28 NI650762 frs-core:FurnitureFittings 2023-03-01 2024-02-28 NI650762 frs-core:FurnitureFittings 2023-02-28 NI650762 frs-core:ShareCapital 2024-02-28 NI650762 frs-core:RetainedEarningsAccumulatedLosses 2024-02-28 NI650762 frs-bus:PrivateLimitedCompanyLtd 2023-03-01 2024-02-28 NI650762 frs-bus:FilletedAccounts 2023-03-01 2024-02-28 NI650762 frs-bus:SmallEntities 2023-03-01 2024-02-28 NI650762 frs-bus:AuditExempt-NoAccountantsReport 2023-03-01 2024-02-28 NI650762 frs-bus:SmallCompaniesRegimeForAccounts 2023-03-01 2024-02-28 NI650762 frs-bus:Director1 2023-03-01 2024-02-28 NI650762 frs-bus:Director2 2023-03-01 2024-02-28 NI650762 frs-countries:NorthernIreland 2023-03-01 2024-02-28 NI650762 2022-02-28 NI650762 2023-02-28 NI650762 2022-03-01 2023-02-28 NI650762 frs-core:CurrentFinancialInstruments 2023-02-28 NI650762 frs-core:Non-currentFinancialInstruments 2023-02-28 NI650762 frs-core:ShareCapital 2023-02-28 NI650762 frs-core:RetainedEarningsAccumulatedLosses 2023-02-28
Registered number: NI650762
Vincent Rainey Finance Limited
Unaudited Financial Statements
For The Year Ended 28 February 2024
Gray + Press Accountants
21 Old Channel Road
Unit 4A Channel Wharf
Belfast
Antrim
BT3 9DE
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—4
Page 1
Balance Sheet
Registered number: NI650762
2024 2023
Notes £ £ £ £
FIXED ASSETS
CURRENT ASSETS
Debtors 5 154,772 251,401
Cash at bank and in hand 8,679 1,811
163,451 253,212
Creditors: Amounts Falling Due Within One Year 6 (83,649 ) (97,505 )
NET CURRENT ASSETS (LIABILITIES) 79,802 155,707
TOTAL ASSETS LESS CURRENT LIABILITIES 79,802 155,707
Creditors: Amounts Falling Due After More Than One Year 7 (55,881 ) (18,697 )
NET ASSETS 23,921 137,010
CAPITAL AND RESERVES
Called up share capital 8 100 100
Profit and Loss Account 23,821 136,910
SHAREHOLDERS' FUNDS 23,921 137,010
Page 1
Page 2
For the year ending 28 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 Vincent Rainey
Director
30/11/2024
The notes on pages 3 to 4 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Vincent Rainey Finance Limited is a private company, limited by shares, incorporated in Northern Ireland, registered number NI650762 . The registered office is 46 Glenbuck Road, Ballymena, County Antrim, BT44 9EL.
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, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. 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.
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 20% Straight Line
2.4. Foreign Currencies
Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rates of exchange ruling at the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
2.5. Pensions
The company operates a defined pension contribution scheme. Contributions are charged to the profit and loss account as they become payable in accordance with the rules of the scheme.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 2 (2023: 2)
2 2
4. Tangible Assets
Fixtures & Fittings
£
Cost
As at 1 March 2023 2,046
As at 28 February 2024 2,046
Depreciation
As at 1 March 2023 2,046
As at 28 February 2024 2,046
Net Book Value
As at 28 February 2024 -
As at 1 March 2023 -
Page 3
Page 4
5. Debtors
2024 2023
£ £
Due within one year
Other debtors 154,772 251,401
6. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 233 100
Bank loans and overdrafts 22,998 7,709
Other creditors 20,988 36,493
Taxation and social security 39,430 53,203
83,649 97,505
7. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Bank loans 55,881 18,697
8. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 100 100
9. Related Party Transactions
Included in other creditors is an amount owing to a related party totaling £17,157 (2023: £17,710)
Included in other debtors is an amount owing from a related party totaling £3.960 (2023: -£16,574)
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