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Registered number: 13105986
Real Optical Limited
Unaudited Financial Statements
For The Year Ended 30 April 2024
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—6
Page 1
Balance Sheet
Registered number: 13105986
2024 2023
Notes £ £ £ £
FIXED ASSETS
Intangible Assets 4 123,770 141,451
Tangible Assets 5 117,494 87,068
241,264 228,519
CURRENT ASSETS
Stocks 6 15,532 18,306
Debtors 7 105,700 2,460
Cash at bank and in hand 132,742 150,179
253,974 170,945
Creditors: Amounts Falling Due Within One Year 8 (170,456 ) (123,876 )
NET CURRENT ASSETS (LIABILITIES) 83,518 47,069
TOTAL ASSETS LESS CURRENT LIABILITIES 324,782 275,588
Creditors: Amounts Falling Due After More Than One Year 9 (85,000 ) (115,000 )
PROVISIONS FOR LIABILITIES
Deferred Taxation (29,374 ) -
NET ASSETS 210,408 160,588
CAPITAL AND RESERVES
Called up share capital 10 100 100
Profit and Loss Account 210,308 160,488
SHAREHOLDERS' FUNDS 210,408 160,588
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For the year ending 30 April 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 Alkesh Kukadia
Director
7 January 2025
The notes on pages 3 to 6 form part of these financial statements.
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Notes to the Financial Statements
1. General Information
Real Optical Limited is a private company, limited by shares, incorporated in England & Wales, registered number 13105986 . The registered office is 21 High View Close, Hamilton Office Park, Hamilton, Leicester, LE4 9LJ.
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 10 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:
Fixtures & Fittings 20% straight line
2.5. 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.
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2.6. 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.
2.7. 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 and deferred tax are recognised in profit or loss for the year, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case current and deferred tax are recognised in other comprehensive income or directly in equity respectively.
2.8. 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.
2.9. Debtors & Creditors
Short term debtors are measured at transaction price (which is usually the invoice price), less any
impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at
transaction price including any transaction costs and subsequently measured at amortised cost determined
using the effective interest method, less any impairment losses for bad and doubtful debts.
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other
financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently
measured at amortised cost determined using the effective interest method.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 13 (2023: 11)
13 11
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4. Intangible Assets
Goodwill
£
Cost
As at 1 May 2023 176,814
As at 30 April 2024 176,814
Amortisation
As at 1 May 2023 35,363
Provided during the period 17,681
As at 30 April 2024 53,044
Net Book Value
As at 30 April 2024 123,770
As at 1 May 2023 141,451
5. Tangible Assets
Fixtures & Fittings
£
Cost
As at 1 May 2023 114,231
Additions 66,590
As at 30 April 2024 180,821
Depreciation
As at 1 May 2023 27,163
Provided during the period 36,164
As at 30 April 2024 63,327
Net Book Value
As at 30 April 2024 117,494
As at 1 May 2023 87,068
6. Stocks
2024 2023
£ £
Finished goods 15,532 18,306
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7. Debtors
2024 2023
£ £
Due within one year
Other debtors 105,700 2,460
8. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 73,785 75,945
Other taxes and social security 34,594 6,076
Other creditors 62,077 41,855
170,456 123,876
9. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Other creditors 85,000 115,000
10. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 100 100
11. Related Party Transactions
Directors Loan Account: These loans are free of interest and repayable on demand. The amount is included
within other creditors.
Amount due to the related party: 2024: £32,076 (2023: £11,856).
Yewtree Properties Ltd: A Company in which the director is a shareholder. These loans are free of interest and repayable on demand. The amount is included within other debtors.
Amount due from the related party: 2024: £103,000 (2023: £0).
12. Ultimate Controlling Party
The company's ultimate controlling party is Mr Alkesh Kukadia by virtue of his ownership of 100% of the issued share capital in the company.
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