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Registered number: 10308529
Rogue Sun Ltd
Unaudited Financial Statements
For The Year Ended 31 August 2024
ChadSan Limited
Castle House
Castle Street
Guildford
GU1 3UW
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—6
Page 1
Balance Sheet
Registered number: 10308529
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 7,972 8,233
7,972 8,233
CURRENT ASSETS
Debtors 5 34,367 79,688
Cash at bank and in hand 50,800 13,602
85,167 93,290
Creditors: Amounts Falling Due Within One Year 6 (296,876 ) (165,038 )
NET CURRENT ASSETS (LIABILITIES) (211,709 ) (71,748 )
TOTAL ASSETS LESS CURRENT LIABILITIES (203,737 ) (63,515 )
NET LIABILITIES (203,737 ) (63,515 )
CAPITAL AND RESERVES
Called up share capital 7 100 100
Profit and Loss Account (203,837 ) (63,615 )
SHAREHOLDERS' FUNDS (203,737) (63,515)
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For the year ending 31 August 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 Konstantinos Zarifis
Director
16th 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
Rogue Sun Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 10308529 . The registered office is 45 Elmside, Guildford, GU2 7SJ.
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:
Fixtures & Fittings 33.33% Straight Line
Computer Equipment 33.33% Straight Line
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.
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2.5. 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.
2.6. 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.
2.7. Government Grant
Government grants are recognised in the profit and loss account in an appropriate manner that matches them with the expenditure towards which they are intended to contribute.
Grants for immediate financial support or to cover costs already incurred are recognised immediately in the profit and loss account. Grants towards general activities of the entity over a specific period are recognised in the profit and loss account over that period.
Grants towards fixed assets are recognised over the expected useful lives of the related assets and are treated as deferred income and released to the profit and loss account over the useful life of the asset concerned.
All grants in the profit and loss account are recognised when all conditions for receipt have been complied with.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 11 (2023: 12)
11 12
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4. Tangible Assets
Fixtures & Fittings Computer Equipment Total
£ £ £
Cost
As at 1 September 2023 745 56,913 57,658
Additions 133 4,730 4,863
As at 31 August 2024 878 61,643 62,521
Depreciation
As at 1 September 2023 670 48,755 49,425
Provided during the period 112 5,012 5,124
As at 31 August 2024 782 53,767 54,549
Net Book Value
As at 31 August 2024 96 7,876 7,972
As at 1 September 2023 75 8,158 8,233
5. Debtors
2024 2023
£ £
Due within one year
Trade debtors - 29,550
Other debtors 34,367 50,138
34,367 79,688
6. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 5,333 10,289
Other creditors 32,661 7,913
Taxation and social security 258,882 146,836
296,876 165,038
7. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 100 100
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8. Related Party Transactions
During the period the company received income totalling £191,700 (YE 31/08/2023: £nil) from a company connected to one of the directors.
9. Ultimate Controlling Party
The company's ultimate controlling party is Mr Konstantinos Zarifis by virtue of his ownership of 100% of the issued share capital in the company.
10. Going Concern Disclosure
As at the balance sheet date the company has net liabilities. These financial statements have been prepared on the going concern basis, on the understanding that the directors and shareholders will continue to support the company for the foreseeable future.
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