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 SC094276 Dr Rashid Ahmed Dr Ashfaq Ali Dr Rashid Ahmed iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure SC094276 2023-02-28 SC094276 2024-02-28 SC094276 2023-03-01 2024-02-28 SC094276 frs-core:Non-currentFinancialInstruments 2024-02-28 SC094276 frs-core:ComputerEquipment 2023-03-01 2024-02-28 SC094276 frs-core:FurnitureFittings 2023-03-01 2024-02-28 SC094276 frs-core:NetGoodwill 2023-03-01 2024-02-28 SC094276 frs-core:LandBuildings frs-core:OwnedOrFreeholdAssets 2023-03-01 2024-02-28 SC094276 frs-core:MotorVehicles 2023-03-01 2024-02-28 SC094276 frs-core:SharePremium 2024-02-28 SC094276 frs-core:ShareCapital 2024-02-28 SC094276 frs-core:RetainedEarningsAccumulatedLosses 2024-02-28 SC094276 frs-bus:PrivateLimitedCompanyLtd 2023-03-01 2024-02-28 SC094276 frs-bus:AbridgedAccounts 2023-03-01 2024-02-28 SC094276 frs-bus:SmallEntities 2023-03-01 2024-02-28 SC094276 frs-bus:AuditExempt-NoAccountantsReport 2023-03-01 2024-02-28 SC094276 frs-bus:SmallCompaniesRegimeForAccounts 2023-03-01 2024-02-28 SC094276 frs-core:CostValuation 2023-02-28 SC094276 frs-core:CostValuation 2024-02-28 SC094276 frs-bus:Director1 2023-03-01 2024-02-28 SC094276 frs-bus:Director2 2023-03-01 2024-02-28 SC094276 frs-bus:CompanySecretary1 2023-03-01 2024-02-28 SC094276 frs-countries:Scotland 2023-03-01 2024-02-28 SC094276 2022-02-28 SC094276 2023-02-28 SC094276 2022-03-01 2023-02-28 SC094276 frs-core:Non-currentFinancialInstruments 2023-02-28 SC094276 frs-core:SharePremium 2023-02-28 SC094276 frs-core:ShareCapital 2023-02-28 SC094276 frs-core:RetainedEarningsAccumulatedLosses 2023-02-28
Registered number: SC094276
Ernarxo Limited
Unaudited ABRIDGED Financial Statements
For The Year Ended 28 February 2024
Ballantyne & Co
Chartered Accountants & Registered Auditors
60 St. Enoch Square
Glasgow
G1 4AG
Contents
Page
Abridged Balance Sheet 1—2
Notes to the Abridged Financial Statements 3—5
Page 1
Abridged Balance Sheet
Registered number: SC094276
2024 2023
Notes £ £ £ £
FIXED ASSETS
Intangible Assets 4 368,264 412,455
Tangible Assets 5 33,738 40,056
Investments 6 13,334 13,334
415,336 465,845
CURRENT ASSETS
Stocks 32,667 30,412
Debtors 7 558,364 541,085
Cash at bank and in hand 797,694 685,272
1,388,725 1,256,769
Creditors: Amounts Falling Due Within One Year (290,558 ) (251,177 )
NET CURRENT ASSETS (LIABILITIES) 1,098,167 1,005,592
TOTAL ASSETS LESS CURRENT LIABILITIES 1,513,503 1,471,437
NET ASSETS 1,513,503 1,471,437
CAPITAL AND RESERVES
Called up share capital 8 6,667 6,667
Share premium account 10,232 10,232
Profit and Loss Account 1,496,604 1,454,538
SHAREHOLDERS' FUNDS 1,513,503 1,471,437
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.
All of the company's members have consented to the preparation of an Abridged Balance Sheet for the year end 28 February 2024 in accordance with section 444(2A) of the Companies Act 2006.
On behalf of the board
Dr Rashid Ahmed
Director
31 October 2024
The notes on pages 3 to 5 form part of these financial statements.
Page 2
Page 3
Notes to the Abridged Financial Statements
1. General Information
Ernarxo Limited is a private company, limited by shares, incorporated in Scotland, registered number SC094276 . The registered office is C/O Ballantyne & Co, 60 St Enoch Square, Glasgow, G1 4AG.
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. Intangible Fixed Assets and Amortisation - Goodwill
Goodwill is the difference between amounts paid on the acquisition of a business and the fair value of the separable net assets. It is amortised to profit and loss account over its estimated economic life of 20 years.
2.4. 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:
Freehold 5% straight line
Motor Vehicles 25% reducing balance
Fixtures & Fittings 15% reducing balance
Computer Equipment 33.33% Straight line
2.5. 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.
2.6. 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.
Page 3
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3. Average Number of Employees
Average number of employees, including directors, during the year was: 9 (2023: 9)
9 9
4. Intangible Assets
Total
£
Cost
As at 1 March 2023 883,833
As at 28 February 2024 883,833
Amortisation
As at 1 March 2023 471,378
Provided during the period 44,191
As at 28 February 2024 515,569
Net Book Value
As at 28 February 2024 368,264
As at 1 March 2023 412,455
5. Tangible Assets
Total
£
Cost
As at 1 March 2023 132,352
As at 28 February 2024 132,352
Depreciation
As at 1 March 2023 92,296
Provided during the period 6,318
As at 28 February 2024 98,614
Net Book Value
As at 28 February 2024 33,738
As at 1 March 2023 40,056
6. Investments
Total
£
Cost
As at 1 March 2023 13,334
As at 28 February 2024 13,334
Provision
As at 1 March 2023 -
As at 28 February 2024 -
Net Book Value
As at 28 February 2024 13,334
As at 1 March 2023 13,334
Page 4
Page 5
7. Debtors
2024 2023
£ £
Due after more than one year
Amounts owed by subsidiaries 65,853 65,853
8. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 6,667 6,667
Page 5