Acorah Software Products - Accounts Production 16.0.110 false true 29 April 2023 30 April 2022 false 30 April 2023 29 April 2024 29 April 2024 05800306 Mr Shing Tung Chau Ms Li Li iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 05800306 2023-04-29 05800306 2024-04-29 05800306 2023-04-30 2024-04-29 05800306 frs-core:CurrentFinancialInstruments 2024-04-29 05800306 frs-core:ComputerEquipment 2023-04-30 2024-04-29 05800306 frs-core:LandBuildings frs-core:OwnedOrFreeholdAssets 2023-04-30 2024-04-29 05800306 frs-core:ShareCapital 2024-04-29 05800306 frs-core:RetainedEarningsAccumulatedLosses 2024-04-29 05800306 frs-bus:PrivateLimitedCompanyLtd 2023-04-30 2024-04-29 05800306 frs-bus:FilletedAccounts 2023-04-30 2024-04-29 05800306 frs-bus:SmallEntities 2023-04-30 2024-04-29 05800306 frs-bus:AuditExempt-NoAccountantsReport 2023-04-30 2024-04-29 05800306 frs-bus:SmallCompaniesRegimeForAccounts 2023-04-30 2024-04-29 05800306 frs-bus:OrdinaryShareClass1 2023-04-30 2024-04-29 05800306 frs-bus:OrdinaryShareClass1 2024-04-29 05800306 frs-bus:Director1 2023-04-30 2024-04-29 05800306 frs-bus:Director2 2023-04-30 2024-04-29 05800306 frs-countries:EnglandWales 2023-04-30 2024-04-29 05800306 2022-04-29 05800306 2023-04-29 05800306 2022-04-30 2023-04-29 05800306 frs-core:CurrentFinancialInstruments 2023-04-29 05800306 frs-core:ShareCapital 2023-04-29 05800306 frs-core:RetainedEarningsAccumulatedLosses 2023-04-29 05800306 frs-bus:OrdinaryShareClass1 2022-04-30 2023-04-29
Registered number: 05800306
Underbank Ltd
Unaudited Financial Statements
For The Year Ended 29 April 2024
Ten Forward Accounting Ltd
Chartered Certified Accountants
1 Mountview Court
310 Friern Barnet Lane
London
N20 0LD
Contents
Page
Statement of Financial Position 1
Notes to the Financial Statements 2—3
Page 1
Statement of Financial Position
Registered number: 05800306
2024 2023
Notes £ £ £ £
FIXED ASSETS
CURRENT ASSETS
Debtors 4 402,895 353,195
Cash at bank and in hand 57,249 329,016
460,144 682,211
Creditors: Amounts Falling Due Within One Year 5 (168,629 ) (323,446 )
NET CURRENT ASSETS (LIABILITIES) 291,515 358,765
TOTAL ASSETS LESS CURRENT LIABILITIES 291,515 358,765
NET ASSETS 291,515 358,765
CAPITAL AND RESERVES
Called up share capital 6 100 100
Income Statement 291,415 358,665
SHAREHOLDERS' FUNDS 291,515 358,765
For the year ending 29 April 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 Income Statement.
On behalf of the board
Mr Shing Tung Chau
Director
22 January 2025
The notes on pages 2 to 3 form part of these financial statements.
Page 1
Page 2
Notes to the Financial Statements
1. General Information
Underbank Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 05800306 . The registered office is 1 Mountview Court , 310 Friern Barnet Lane , London , N20 0LD.
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. 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 No depreciation
Computer Equipment 20% Straight Line Basis
2.3. 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.
2.4. Registrar Filing Requirements
The company has taken advantage of Companies Act 2006 section 444(1) and opted not to file the income statement, directors report, and notes to the financial statements relating to the income statement.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 2 (2023: 3)
2 3
4. Debtors
2024 2023
£ £
Due within one year
Amounts owed by group undertakings 402,895 353,195
5. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Corporation tax - 90,949
Other creditors - 6,047
Accruals and deferred income 1,675 1,854
Directors' loan accounts 166,954 224,596
168,629 323,446
6. Share Capital
2024 2023
Allotted, called up and fully paid £ £
100 Ordinary Shares of £ 1.00 each 100 100
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7. Related Party Transactions
Pieman LtdThe shareholders/directors of the company own Pieman Ltd and are also the shareholders/directors of Pieman Ltd.During the year the company provided financial support of £50,000 to Pieman Ltd (2023: £410,000). At year end the company was owed by Pieman Ltd £402,895 (2023: £353,195).

Pieman Ltd

The shareholders/directors of the company own Pieman Ltd and are also the shareholders/directors of Pieman Ltd.

During the year the company provided financial support of £50,000 to Pieman Ltd (2023: £410,000). At year end the company was owed by Pieman Ltd £402,895 (2023: £353,195).

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