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 08907400 Mr Muhammad Raza iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 08907400 2023-02-28 08907400 2024-02-29 08907400 2023-03-01 2024-02-29 08907400 frs-core:CurrentFinancialInstruments 2024-02-29 08907400 frs-core:Non-currentFinancialInstruments 2024-02-29 08907400 frs-core:ComputerEquipment 2024-02-29 08907400 frs-core:ComputerEquipment 2023-03-01 2024-02-29 08907400 frs-core:ComputerEquipment 2023-02-28 08907400 frs-core:ShareCapital 2024-02-29 08907400 frs-core:RetainedEarningsAccumulatedLosses 2024-02-29 08907400 frs-bus:PrivateLimitedCompanyLtd 2023-03-01 2024-02-29 08907400 frs-bus:FilletedAccounts 2023-03-01 2024-02-29 08907400 frs-bus:SmallEntities 2023-03-01 2024-02-29 08907400 frs-bus:AuditExempt-NoAccountantsReport 2023-03-01 2024-02-29 08907400 frs-bus:SmallCompaniesRegimeForAccounts 2023-03-01 2024-02-29 08907400 frs-core:ListedExchangeTraded 2024-02-29 08907400 frs-core:ListedExchangeTraded 2023-02-28 08907400 frs-core:CostValuation frs-core:ListedExchangeTraded 2023-02-28 08907400 frs-core:AdditionsToInvestments frs-core:ListedExchangeTraded 2024-02-29 08907400 frs-core:CostValuation frs-core:ListedExchangeTraded 2024-02-29 08907400 frs-core:ProvisionsForImpairmentInvestments frs-core:ListedExchangeTraded 2023-02-28 08907400 frs-core:ProvisionsForImpairmentInvestments frs-core:ListedExchangeTraded 2024-02-29 08907400 frs-bus:Director1 2023-03-01 2024-02-29 08907400 frs-core:CurrentFinancialInstruments 1 2024-02-29 08907400 frs-core:Non-currentFinancialInstruments 1 2024-02-29 08907400 frs-countries:EnglandWales 2023-03-01 2024-02-29 08907400 2022-02-28 08907400 2023-02-28 08907400 2022-03-01 2023-02-28 08907400 frs-core:CurrentFinancialInstruments 2023-02-28 08907400 frs-core:Non-currentFinancialInstruments 2023-02-28 08907400 frs-core:ShareCapital 2023-02-28 08907400 frs-core:RetainedEarningsAccumulatedLosses 2023-02-28 08907400 frs-core:CurrentFinancialInstruments 1 2023-02-28 08907400 frs-core:Non-currentFinancialInstruments 1 2023-02-28
Registered number: 08907400
Sharp Brains Limited
Unaudited Financial Statements
For The Year Ended 29 February 2024
Adroit Accountax Limited
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 08907400
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 - 438
Investments 5 395 -
395 438
CURRENT ASSETS
Debtors 6 1,030,710 630,273
Cash at bank and in hand 26,543 54,083
1,057,253 684,356
Creditors: Amounts Falling Due Within One Year 7 (530,845 ) (294,827 )
NET CURRENT ASSETS (LIABILITIES) 526,408 389,529
TOTAL ASSETS LESS CURRENT LIABILITIES 526,803 389,967
Creditors: Amounts Falling Due After More Than One Year 8 (255,589 ) (108,416 )
PROVISIONS FOR LIABILITIES
Deferred Taxation 9 - (461 )
NET ASSETS 271,214 281,090
CAPITAL AND RESERVES
Called up share capital 10 2 2
Profit and Loss Account 271,212 281,088
SHAREHOLDERS' FUNDS 271,214 281,090
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 Muhammad Raza
Director
28/11/2024
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
Sharp Brains Limited is a private company, limited by shares, incorporated in England & Wales, registered number 08907400 . The registered office is Unit 8, Dock Offices, Surrey Quays Road, London, SE16 2XU.
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:
Computer Equipment 50% Straight Line Method
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 rate ruling on the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 26 (2023: 8)
26 8
4. Tangible Assets
Computer Equipment
£
Cost
As at 1 March 2023 6,036
As at 29 February 2024 6,036
Depreciation
As at 1 March 2023 5,598
Provided during the period 438
As at 29 February 2024 6,036
Net Book Value
As at 29 February 2024 -
As at 1 March 2023 438
Page 3
Page 4
5. Investments
Listed
£
Cost
As at 1 March 2023 -
Additions 395
As at 29 February 2024 395
Provision
As at 1 March 2023 -
As at 29 February 2024 -
Net Book Value
As at 29 February 2024 395
As at 1 March 2023 -
6. Debtors
2024 2023
£ £
Due within one year
Trade debtors 1,030,710 595,660
Intercompany loan - 34,613
1,030,710 630,273
7. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 392,617 83,717
Bank loans and overdrafts 10,484 10,484
Corporation tax - 2,664
Other taxes and social security 7,887 8,234
VAT 100,194 162,813
Net wages 12,915 -
Other creditors 1,853 26,169
Pension creditors 1,099 539
Director's loan account 3,796 207
530,845 294,827
8. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
BBL Loans 22,554 22,056
Loans payable 233,035 86,360
255,589 108,416
Page 4
Page 5
9. Deferred Taxation
The provision for deferred tax is made up as follows:
2024 2023
£ £
Other timing differences - 461
10. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 2 2
11. Dividends
2024 2023
£ £
On equity shares:
Final dividend paid 4,000 -
Page 5