Acorah Software Products - Accounts Production 16.1.300 false true 30 April 2023 1 May 2022 false 1 May 2023 29 April 2024 29 April 2024 09287827 Mr P K Sharma Mrs S R Sharma iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 09287827 frs-core:Non-currentFinancialInstruments frs-core:MoreThanFiveYears 2024-04-29 09287827 2023-04-30 09287827 2024-04-29 09287827 2023-05-01 2024-04-29 09287827 frs-core:CurrentFinancialInstruments 2024-04-29 09287827 frs-core:Non-currentFinancialInstruments 2024-04-29 09287827 frs-core:ComputerEquipment 2024-04-29 09287827 frs-core:ComputerEquipment 2023-05-01 2024-04-29 09287827 frs-core:ComputerEquipment 2023-04-30 09287827 frs-core:FurnitureFittings 2024-04-29 09287827 frs-core:FurnitureFittings 2023-05-01 2024-04-29 09287827 frs-core:FurnitureFittings 2023-04-30 09287827 frs-core:ShareCapital 2024-04-29 09287827 frs-core:RetainedEarningsAccumulatedLosses 2024-04-29 09287827 frs-bus:PrivateLimitedCompanyLtd 2023-05-01 2024-04-29 09287827 frs-bus:FilletedAccounts 2023-05-01 2024-04-29 09287827 frs-bus:SmallEntities 2023-05-01 2024-04-29 09287827 frs-bus:AuditExempt-NoAccountantsReport 2023-05-01 2024-04-29 09287827 frs-bus:SmallCompaniesRegimeForAccounts 2023-05-01 2024-04-29 09287827 frs-bus:Director1 2023-05-01 2024-04-29 09287827 frs-bus:Director2 2023-05-01 2024-04-29 09287827 frs-countries:EnglandWales 2023-05-01 2024-04-29 09287827 frs-core:Non-currentFinancialInstruments frs-core:MoreThanFiveYears 2023-04-30 09287827 2022-04-30 09287827 2023-04-30 09287827 2022-05-01 2023-04-30 09287827 frs-core:CurrentFinancialInstruments 2023-04-30 09287827 frs-core:Non-currentFinancialInstruments 2023-04-30 09287827 frs-core:ShareCapital 2023-04-30 09287827 frs-core:RetainedEarningsAccumulatedLosses 2023-04-30
Registered number: 09287827
Reuben Law Ltd
Unaudited Financial Statements
For The Year Ended 29 April 2024
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 09287827
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 1,500 2,250
1,500 2,250
CURRENT ASSETS
Stocks 5 - 53,280
Debtors 6 11,022 -
Cash at bank and in hand 50 476
11,072 53,756
Creditors: Amounts Falling Due Within One Year 7 (12,681 ) (22,733 )
NET CURRENT ASSETS (LIABILITIES) (1,609 ) 31,023
TOTAL ASSETS LESS CURRENT LIABILITIES (109 ) 33,273
Creditors: Amounts Falling Due After More Than One Year 8 (33,750 ) (32,228 )
PROVISIONS FOR LIABILITIES
Deferred Taxation (285 ) (428 )
NET (LIABILITIES)/ASSETS (34,144 ) 617
CAPITAL AND RESERVES
Called up share capital 10 100 100
Profit and Loss Account (34,244 ) 517
SHAREHOLDERS' FUNDS (34,144) 617
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Page 2
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 Profit and Loss Account.
On behalf of the board
Mrs S R Sharma
Director
29 January 2025
The notes on pages 3 to 5 form part of these financial statements.
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Notes to the Financial Statements
1. General Information
Reuben Law Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 09287827 . The registered office is Hanover Buildings, 11-13 Hanover Street, Liverpool, Merseyside, L1 3DN.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
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.
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 assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent 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 and fittings 33% Straight Line
Computer equipment 25% Straight Line
2.4. 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.
2.5. Financial Instruments
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 entity after deducting all of its financial liabilities.
Where the contractual obligations of financial instruments (including share capital) are equivalent to a similar debt instrument, those financial instruments are classed as financial liabilities. Financial liabilities are presented as such in the balance sheet. Finance costs and gains or losses relating to financial liabilities are included in the profit and loss account. Finance costs are calculated so as to produce a constant rate of return on the outstanding liability.
Where the contractual terms of share capital do not have any terms meeting the definition of a financial liability then this is classed as an equity instrument. Dividends and distributions relating to equity instruments are debited direct to equity.
2.6. Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
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3. Average Number of Employees
Average number of employees, including directors, during the year was: NIL (2023: NIL)
- -
4. Tangible Assets
Fixtures and fittings Computer equipment Total
£ £ £
Cost
As at 1 May 2023 1,905 3,000 4,905
As at 29 April 2024 1,905 3,000 4,905
Depreciation
As at 1 May 2023 1,905 750 2,655
Provided during the period - 750 750
As at 29 April 2024 1,905 1,500 3,405
Net Book Value
As at 29 April 2024 - 1,500 1,500
As at 1 May 2023 - 2,250 2,250
5. Stocks
2024 2023
£ £
Work in progress - 53,280
6. Debtors
2024 2023
£ £
Due within one year
Other debtors 2,246 -
VAT 248 -
Directors' loan accounts 8,528 -
11,022 -
7. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 1,488 -
Bank loans and overdrafts 5,000 9,180
Corporation tax 3,948 11,402
Accruals and deferred income 2,245 1,950
Directors' loan accounts - 201
12,681 22,733
8. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Bank loans 33,750 32,228
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Of the creditors falling due after more than one year the following amounts are due after more than five years.
2024 2023
£ £
Bank loans 13,750 -
9. Secured Creditors
Of the creditors the following amounts are secured.
The loans held are 100% secured via the government-backed bounce back loan scheme.
2024 2023
£ £
Bank loans and overdrafts 38,750 41,407
10. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 100 100
11. Directors Advances, Credits and Guarantees
A Director has a brought forward advance from the company of £Nil. A Director received advances during the year totalling £6,350 and repaid amounts totalling £390 (2023: received advances during the year totalling £5,899 and repaid amounts totalling £54,147). The advance carried forward is £5,960.
A Director had a brought forward balance owed from the company of £201. A Director received advances during the year totalling £3,081 and repaid amounts totalling £312 (2023: received advances during the year totalling £10,961 and repaid amounts totalling £10,322). The advance carried forward is £2,568.
12. Related Party Transactions
The following related party transactions were undertaken during the year:
A company under common control received advances totalling £1,926 (2023 £Nil). The amount owed from the company under common control at the balance sheet date is £1,926 (2023: £Nil).
No dividends were paid to the directors in respect of their shareholdings in the current period (2023: dividends were paid totalling £49,605).
No further transactions with related parties were undertaken such as are required to be disclosed in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
13. Going Concern
The company is able to meet its day to day working capital requirements through the support of its directors. Therefore the directors consider it appropriate to prepare the financial statements on the going concern basis.
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