Acorah Software Products - Accounts Production 16.0.110 false true true 30 November 2022 1 December 2021 false 1 December 2022 30 November 2023 30 November 2023 08757638 Mr Amit Shah Mrs Riddhi Shah Mr Mital Shah Mrs Mansi Shah iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 08757638 2022-11-30 08757638 2023-11-30 08757638 2022-12-01 2023-11-30 08757638 frs-core:CurrentFinancialInstruments 2023-11-30 08757638 frs-core:Non-currentFinancialInstruments 2023-11-30 08757638 frs-core:ComputerEquipment 2023-11-30 08757638 frs-core:ComputerEquipment 2022-12-01 2023-11-30 08757638 frs-core:ComputerEquipment 2022-11-30 08757638 frs-core:MotorVehicles 2023-11-30 08757638 frs-core:MotorVehicles 2022-12-01 2023-11-30 08757638 frs-core:MotorVehicles 2022-11-30 08757638 frs-core:PlantMachinery 2023-11-30 08757638 frs-core:PlantMachinery 2022-12-01 2023-11-30 08757638 frs-core:PlantMachinery 2022-11-30 08757638 frs-core:ShareCapital 2023-11-30 08757638 frs-core:RetainedEarningsAccumulatedLosses 2023-11-30 08757638 frs-bus:PrivateLimitedCompanyLtd 2022-12-01 2023-11-30 08757638 frs-bus:FilletedAccounts 2022-12-01 2023-11-30 08757638 frs-bus:SmallEntities 2022-12-01 2023-11-30 08757638 frs-bus:AuditExempt-NoAccountantsReport 2022-12-01 2023-11-30 08757638 frs-bus:SmallCompaniesRegimeForAccounts 2022-12-01 2023-11-30 08757638 frs-bus:OrdinaryShareClass1 2022-12-01 2023-11-30 08757638 frs-bus:OrdinaryShareClass1 2023-11-30 08757638 frs-bus:Director1 2022-12-01 2023-11-30 08757638 frs-bus:Director2 2022-12-01 2023-11-30 08757638 frs-bus:Director3 2022-12-01 2023-11-30 08757638 frs-bus:Director4 2022-12-01 2023-11-30 08757638 frs-countries:EnglandWales 2022-12-01 2023-11-30 08757638 2021-11-30 08757638 2022-11-30 08757638 2021-12-01 2022-11-30 08757638 frs-core:CurrentFinancialInstruments 2022-11-30 08757638 frs-core:Non-currentFinancialInstruments 2022-11-30 08757638 frs-core:ShareCapital 2022-11-30 08757638 frs-core:RetainedEarningsAccumulatedLosses 2022-11-30 08757638 frs-bus:OrdinaryShareClass1 2021-12-01 2022-11-30
Registered number: 08757638
Maharaj Foods Limited
Unaudited Financial Statements
For The Year Ended 30 November 2023
Unaudited Financial Statements
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—6
Page 1
Balance Sheet
Registered number: 08757638
2023 2022
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 3 152,104 160,182
152,104 160,182
CURRENT ASSETS
Stocks 4 263,046 203,685
Debtors 5 697,117 441,657
Cash at bank and in hand 359,358 4,462
1,319,521 649,804
Creditors: Amounts Falling Due Within One Year 6 (762,220 ) (353,415 )
NET CURRENT ASSETS (LIABILITIES) 557,301 296,389
TOTAL ASSETS LESS CURRENT LIABILITIES 709,405 456,571
Creditors: Amounts Falling Due After More Than One Year 7 (25,000 ) (34,438 )
PROVISIONS FOR LIABILITIES
Deferred Taxation (16,889 ) (12,144 )
NET ASSETS 667,516 409,989
CAPITAL AND RESERVES
Called up share capital 8 100 100
Profit and Loss Account 667,416 409,889
SHAREHOLDERS' FUNDS 667,516 409,989
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For the year ending 30 November 2023 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.
The financial statements were approved by the board of directors on 30 November 2024 and were signed on its behalf by:
Mr Amit Shah
Director
30 November 2024
The notes on pages 3 to 6 form part of these financial statements.
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Page 3
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. Going Concern Disclosure
The directors have identified any material uncertainties related to events or conditions that may cast significant doubt about the company's ability to continue as a going concern, however, the going concern basis remains appropriate.
1.3. Significant judgements and estimations
In the application of the company’s accounting policies, the director is required to make judgements, estimates and
assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The
estimates and associated assumptions are based on historical experience and other factors that are considered to be
relevant. Actual results may differ from these estimates.
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are
recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of
the revision and future periods where the revision affects both current and future periods.
1.4. 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.
1.5. 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 25% on reducing balance
Motor Vehicles 25% on reducing balance
Computer Equipment 33.33% on cost
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the
carrying value of the asset, and is credited or charged to profit or loss.
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.
At each reporting date, an assessment is made for impairment. Any exess of the carrying amount of stocks over its
estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of
impairment losses are also recognised in profit or loss.
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1.7. Financial Instruments
The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.  
Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.
Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.  
Basic financial assets 
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised. 
Classification of financial liabilities 
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.
Basic financial liabilities 
Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised. 
Debt instruments are subsequently carried at amortised cost, using the effective interest rate method. 
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.
1.8. 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 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.
1.9. Cash and Cash Equivalents
Cash and cash equivalents are basic financial assets and include cash in hand and deposits held at call with banks,
other short-term highly liquid investments that mature in no more than three months from the date of acquisition and
are readily convertible to a known amount of cash with insignificant risk of change in value, and bank overdrafts.
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1.10. Employee Benefits
The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required
to be recognised as part of the cost of stock of fixed assets.
1.11. Equity instruments
Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends
payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.
2. Average Number of Employees
Average number of employees, including directors, during the year was as follows: 15 (2022: 12)
15 12
3. Tangible Assets
Plant & Machinery Motor Vehicles Computer Equipment Total
£ £ £ £
Cost
As at 1 December 2022 151,885 129,703 1,275 282,863
Additions 60,579 - 689 61,268
Disposals (35,389 ) - - (35,389 )
As at 30 November 2023 177,075 129,703 1,964 308,742
Depreciation
As at 1 December 2022 69,026 52,380 1,275 122,681
Provided during the period 22,028 20,566 210 42,804
Disposals (8,847 ) - - (8,847 )
As at 30 November 2023 82,207 72,946 1,485 156,638
Net Book Value
As at 30 November 2023 94,868 56,757 479 152,104
As at 1 December 2022 82,859 77,323 - 160,182
4. Stocks
2023 2022
£ £
Finished goods 263,046 203,685
5. Debtors
2023 2022
£ £
Due within one year
Trade debtors 541,295 349,436
Other debtors 155,822 92,221
697,117 441,657
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6. Creditors: Amounts Falling Due Within One Year
2023 2022
£ £
Trade creditors 530,767 89,122
Bank loans and overdrafts - 20,080
HP - Merceded finance & VWFS 117,194 153,646
HP - Investec finance 19,754 26,725
Other creditors 26,356 30,770
Taxation and social security 68,149 33,072
762,220 353,415
7. Creditors: Amounts Falling Due After More Than One Year
2023 2022
£ £
Bank loans 25,000 34,438
25,000 34,438
8. Share Capital
2023 2022
£ £
Allotted, Called up and fully paid 100 100
Value Number 2023 2022
Allotted, called up and fully paid £ £ £
Ordinary Shares 1.00 100 100 100
9. General Information
Maharaj Foods Limited is a private company, limited by shares, incorporated in England & Wales, registered number 08757638 . The registered office is 2 Weall Green, Watford, Hertfordshire, WD25 7EN.
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