Acorah Software Products - Accounts Production 14.6.300 false true 28 February 2023 1 March 2022 false 1 March 2023 29 February 2024 29 February 2024 11801076 Mr Peter Panayi iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 11801076 2023-02-28 11801076 2024-02-29 11801076 2023-03-01 2024-02-29 11801076 frs-core:CurrentFinancialInstruments 2024-02-29 11801076 frs-core:Non-currentFinancialInstruments 2024-02-29 11801076 frs-core:BetweenOneFiveYears 2024-02-29 11801076 frs-core:DevelopmentCostsCapitalisedDevelopmentExpenditure 2023-03-01 2024-02-29 11801076 frs-core:MotorVehicles 2024-02-29 11801076 frs-core:MotorVehicles 2023-03-01 2024-02-29 11801076 frs-core:MotorVehicles 2023-02-28 11801076 frs-core:OtherResidualIntangibleAssets 2024-02-29 11801076 frs-core:OtherResidualIntangibleAssets 2023-03-01 2024-02-29 11801076 frs-core:OtherResidualIntangibleAssets 2023-02-28 11801076 frs-core:PlantMachinery 2024-02-29 11801076 frs-core:PlantMachinery 2023-03-01 2024-02-29 11801076 frs-core:PlantMachinery 2023-02-28 11801076 frs-core:WithinOneYear 2024-02-29 11801076 frs-core:ShareCapital 2024-02-29 11801076 frs-core:RetainedEarningsAccumulatedLosses 2024-02-29 11801076 frs-bus:PrivateLimitedCompanyLtd 2023-03-01 2024-02-29 11801076 frs-bus:FilletedAccounts 2023-03-01 2024-02-29 11801076 frs-bus:SmallEntities 2023-03-01 2024-02-29 11801076 frs-bus:AuditExempt-NoAccountantsReport 2023-03-01 2024-02-29 11801076 frs-bus:SmallCompaniesRegimeForAccounts 2023-03-01 2024-02-29 11801076 frs-bus:Director1 2023-03-01 2024-02-29 11801076 frs-bus:Director1 2023-02-28 11801076 frs-bus:Director1 2024-02-29 11801076 frs-countries:EnglandWales 2023-03-01 2024-02-29 11801076 2022-02-28 11801076 2023-02-28 11801076 2022-03-01 2023-02-28 11801076 frs-core:CurrentFinancialInstruments 2023-02-28 11801076 frs-core:Non-currentFinancialInstruments 2023-02-28 11801076 frs-core:BetweenOneFiveYears 2023-02-28 11801076 frs-core:WithinOneYear 2023-02-28 11801076 frs-core:ShareCapital 2023-02-28 11801076 frs-core:RetainedEarningsAccumulatedLosses 2023-02-28
Registered number: 11801076
JIGSAW PROJECTS LTD
Unaudited Financial Statements
For The Year Ended 29 February 2024
ELM Partners
Chartered Certified Accountants & Registered Auditors
Southgate Offie Village
286a Chase Road
Soutghate
London
N14 6HF
Unaudited Financial Statements
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—6
Page 1
Balance Sheet
Registered number: 11801076
2024 2023
Notes £ £ £ £
FIXED ASSETS
Intangible Assets 3 2,667 -
Tangible Assets 4 71,185 52,875
73,852 52,875
CURRENT ASSETS
Stocks 5 3,909 2,789
Debtors 6 504,276 205,928
Cash at bank and in hand 337,313 208,975
845,498 417,692
Creditors: Amounts Falling Due Within One Year 7 (383,310 ) (193,508 )
NET CURRENT ASSETS (LIABILITIES) 462,188 224,184
TOTAL ASSETS LESS CURRENT LIABILITIES 536,040 277,059
Creditors: Amounts Falling Due After More Than One Year 8 (53,448 ) (45,585 )
NET ASSETS 482,592 231,474
CAPITAL AND RESERVES
Called up share capital 10 100 100
Profit and Loss Account 482,492 231,374
SHAREHOLDERS' FUNDS 482,592 231,474
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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 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 Peter Panayi
Director
26/11/2024
The notes on pages 3 to 6 form part of these financial statements.
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Notes to the Financial Statements
1. Accounting Policies
1.1. 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.
1.2. 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.
1.3. Intangible Fixed Assets and Amortisation - Other Intangible
Other intangible assets are Website. It is amortised to profit and loss account over its estimated economic life of 3 years.
1.4. 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 20% reducing balance
Motor Vehicles 20% reducing balance
1.5. Leasing and Hire Purchase Contracts
Assets obtained under finance leases are capitalised as tangible fixed assets. Assets acquired under finance leases are depreciated over the shorter of the lease term and their useful lives. Assets acquired under hire purchase contracts are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in the creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.

Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to profit and loss account as incurred.
1.6. 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.
1.7. Taxation
Corporation 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.
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1.8. 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.
2. Average Number of Employees
Average number of employees, including directors, during the year was as follows: 2 (2023: 2)
2 2
3. Intangible Assets
Other
£
Cost
As at 1 March 2023 -
Additions 4,000
As at 29 February 2024 4,000
Amortisation
As at 1 March 2023 -
Provided during the period 1,333
As at 29 February 2024 1,333
Net Book Value
As at 29 February 2024 2,667
As at 1 March 2023 -
4. Tangible Assets
Plant & Machinery Motor Vehicles Total
£ £ £
Cost
As at 1 March 2023 4,101 65,165 69,266
Additions 1,845 53,562 55,407
Disposals - (24,125 ) (24,125 )
As at 29 February 2024 5,946 94,602 100,548
Depreciation
As at 1 March 2023 1,278 15,113 16,391
Provided during the period 934 16,863 17,797
Disposals - (4,825 ) (4,825 )
As at 29 February 2024 2,212 27,151 29,363
Net Book Value
As at 29 February 2024 3,734 67,451 71,185
As at 1 March 2023 2,823 50,052 52,875
5. Stocks
2024 2023
£ £
Materials 3,909 2,789
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6. Debtors
2024 2023
£ £
Due within one year
Trade debtors 356,305 184,276
Prepayments and accrued income 19,331 5,918
Other debtors 19,978 2,779
Corporation tax recoverable assets 16,781 -
VAT 42,161 12,955
Directors' loan accounts 49,720 -
504,276 205,928
7. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Net obligations under finance lease and hire purchase contracts 19,154 6,089
Trade creditors 79,272 51,575
Bank loans and overdrafts 10,000 10,000
Corporation tax 137,506 47,772
Other taxes and social security 7,602 8,018
Other creditors 6,194 54,756
Accruals and deferred income 123,582 14,768
Directors' loan accounts - 530
383,310 193,508
8. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Net obligations under finance lease and hire purchase contracts 35,115 17,252
Bank loans 18,333 28,333
53,448 45,585
Included in creditors is a bounce bank loan of £28,333. The government guarantees 100% of the bounce loan and there are no fees or interest for the first 12 months. After 12 months , the interest is capped at 2.5% per year and the total amount payable must be repaid by way of 60 consecutive monthly payments (consisting of capital and interest).
9. Obligations Under Finance Leases and Hire Purchase
2024 2023
£ £
The maturity of these amounts is as follows:
Within one year 19,154 6,089
Between one and five years 35,115 17,252
54,269 23,341
54,269 23,341
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10. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 100 100
11. Pension Commitments
The company operates a defined contribution pension scheme for the directors and employess. The assets of the scheme are held separately from those of the company in an independently administered fund. During the year the company contributed £173.
12. 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 Peter Panayi (739 ) 50,459 - - 49,720
The above loan is unsecured and repayable on demand.
Interest is charged on overdrawn loan account at official interest rate.
13. Related Party Transactions
Included in debtors amount falling due within one year is an amount of £49,720 (2023: £739 due to) due from Mr Peter Panayi, director of the company.
14. General Information
JIGSAW PROJECTS LTD is a private company, limited by shares, incorporated in England & Wales, registered number 11801076 . The registered office is Southgate Offie Village, 286a Chase Road, Soutghate , London, N14 6HF.
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