Acorah Software Products - Accounts Production 16.0.110 false true true 31 March 2023 1 April 2022 false 1 April 2023 31 March 2024 31 March 2024 11236071 Mr QINQI HE iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 11236071 2023-03-31 11236071 2024-03-31 11236071 2023-04-01 2024-03-31 11236071 frs-core:CurrentFinancialInstruments 2024-03-31 11236071 frs-core:FurnitureFittings 2024-03-31 11236071 frs-core:FurnitureFittings 2023-04-01 2024-03-31 11236071 frs-core:FurnitureFittings 2023-03-31 11236071 frs-core:ShareCapital 2024-03-31 11236071 frs-core:RetainedEarningsAccumulatedLosses 2024-03-31 11236071 frs-bus:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 11236071 frs-bus:FilletedAccounts 2023-04-01 2024-03-31 11236071 frs-bus:SmallEntities 2023-04-01 2024-03-31 11236071 frs-bus:AuditExempt-NoAccountantsReport 2023-04-01 2024-03-31 11236071 frs-bus:SmallCompaniesRegimeForAccounts 2023-04-01 2024-03-31 11236071 frs-bus:Director1 2023-04-01 2024-03-31 11236071 frs-countries:EnglandWales 2023-04-01 2024-03-31 11236071 2022-03-31 11236071 2023-03-31 11236071 2022-04-01 2023-03-31 11236071 frs-core:CurrentFinancialInstruments 2023-03-31 11236071 frs-core:ShareCapital 2023-03-31 11236071 frs-core:RetainedEarningsAccumulatedLosses 2023-03-31
Registered number: 11236071
1968 He Limited
Unaudited Financial Statements
For The Year Ended 31 March 2024
Silverstone Business Consulting Ltd
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 11236071
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 28,263 37,684
28,263 37,684
CURRENT ASSETS
Debtors 5 33,043 38,813
Cash at bank and in hand 30,898 45,027
63,941 83,840
Creditors: Amounts Falling Due Within One Year 6 (91,921 ) (100,790 )
NET CURRENT ASSETS (LIABILITIES) (27,980 ) (16,950 )
TOTAL ASSETS LESS CURRENT LIABILITIES 283 20,734
NET ASSETS 283 20,734
CAPITAL AND RESERVES
Called up share capital 7 100 100
Profit and Loss Account 183 20,634
SHAREHOLDERS' FUNDS 283 20,734
Page 1
Page 2
For the year ending 31 March 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 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 QINQI HE
Director
30/12/2024
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
1968 He Limited is a private company, limited by shares, incorporated in England & Wales, registered number 11236071 . The registered office is Unit 1, Gerry Raffles Square, London, E15 1BG.
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. Going Concern Disclosure
The directors have identified 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.
2.3. 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.
2.4. 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% SLM
2.5. Financial Instruments
Financial instruments
The company has elected to apply the provisions of Section 11 'Basic Financial Instruments' of FRS 102 to all of its financial instruments.
Financial instruments are recognised 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 trade and other receivables 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 financial asset is measured at the present value of the future receipts discounted at a market rate of interest.
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 trade and other payables, and loans from group undertakings, 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.
Debt instruments are subsequently carried at amortised cost, using the effective interest method.
...CONTINUED
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2.5. Financial Instruments - continued
Share capital
Financial instruments issued by the company are classified as equity only to the extent that they do not meet the
definition of a financial liability or financial asset.
The company's ordinary shares are classified as equity instruments
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 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.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 12 (2023: 15)
12 15
4. Tangible Assets
Fixtures & Fittings
£
Cost
As at 1 April 2023 47,105
As at 31 March 2024 47,105
Depreciation
As at 1 April 2023 9,421
Provided during the period 9,421
As at 31 March 2024 18,842
Net Book Value
As at 31 March 2024 28,263
As at 1 April 2023 37,684
5. Debtors
2024 2023
£ £
Due within one year
Other debtors 33,043 38,813
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6. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Corporation tax 4,684 4,139
Other taxes and social security 1,469 918
VAT 34,393 49,015
Net wages 16,672 16,849
Other creditors - (173 )
Accruals and deferred income 2,400 4,000
Director's loan account 32,303 26,042
91,921 100,790
7. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 100 100
8. Related Party Transactions
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.
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