Acorah Software Products - Accounts Production 16.1.300 false true 30 April 2023 1 May 2022 false 1 May 2023 30 April 2024 30 April 2024 13330684 A Bin Madhi Rovayo iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 13330684 2023-04-30 13330684 2024-04-30 13330684 2023-05-01 2024-04-30 13330684 frs-core:CurrentFinancialInstruments 2024-04-30 13330684 frs-core:Non-currentFinancialInstruments 2024-04-30 13330684 frs-core:ComputerEquipment 2024-04-30 13330684 frs-core:ComputerEquipment 2023-05-01 2024-04-30 13330684 frs-core:ComputerEquipment 2023-04-30 13330684 frs-core:ShareCapital 2024-04-30 13330684 frs-core:RetainedEarningsAccumulatedLosses 2024-04-30 13330684 frs-bus:PrivateLimitedCompanyLtd 2023-05-01 2024-04-30 13330684 frs-bus:FilletedAccounts 2023-05-01 2024-04-30 13330684 frs-bus:SmallEntities 2023-05-01 2024-04-30 13330684 frs-bus:AuditExempt-NoAccountantsReport 2023-05-01 2024-04-30 13330684 frs-bus:SmallCompaniesRegimeForAccounts 2023-05-01 2024-04-30 13330684 frs-bus:OrdinaryShareClass1 2023-05-01 2024-04-30 13330684 frs-bus:OrdinaryShareClass1 2024-04-30 13330684 frs-bus:Director1 2023-05-01 2024-04-30 13330684 frs-bus:Director1 2023-04-30 13330684 frs-bus:Director1 2024-04-30 13330684 frs-countries:EnglandWales 2023-05-01 2024-04-30 13330684 2022-04-30 13330684 2023-04-30 13330684 2022-05-01 2023-04-30 13330684 frs-core:CurrentFinancialInstruments 2023-04-30 13330684 frs-core:Non-currentFinancialInstruments 2023-04-30 13330684 frs-core:ShareCapital 2023-04-30 13330684 frs-core:RetainedEarningsAccumulatedLosses 2023-04-30 13330684 frs-bus:OrdinaryShareClass1 2022-05-01 2023-04-30
Registered number: 13330684
Ringfinite Limited
Unaudited Financial Statements
For The Year Ended 30 April 2024
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 13330684
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 2,259 3,718
2,259 3,718
CURRENT ASSETS
Debtors 5 118,066 77,999
Cash at bank and in hand 2,000 9
120,066 78,008
Creditors: Amounts Falling Due Within One Year 6 (97,610 ) (63,442 )
NET CURRENT ASSETS (LIABILITIES) 22,456 14,566
TOTAL ASSETS LESS CURRENT LIABILITIES 24,715 18,284
Creditors: Amounts Falling Due After More Than One Year 7 (1,035 ) (3,106 )
NET ASSETS 23,680 15,178
CAPITAL AND RESERVES
Called up share capital 8 100 100
Profit and Loss Account 23,580 15,078
SHAREHOLDERS' FUNDS 23,680 15,178
Page 1
Page 2
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
A Bin Madhi Rovayo
Director
24/01/2025
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
Ringfinite Limited is a private company, limited by shares, incorporated in England & Wales, registered number 13330684 . The registered office is Office 8, No.11 Riverside, Riverside Park, Farnham, Surrey, GU9 7UG.
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 from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. 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.
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:
Computer Equipment 20% 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.
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 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.
Current 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.
2.6. Trade and other debtors
Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method, less impairment losses for bad and doubtful debts.
2.7. Cash and cash equivalents
Cash is represented by cash in hand and deposits with financial institutions repayable without penalty or notice of not more than 24 hours.
2.8. Trade and other creditors
Short term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 1 (2023: 1)
1 1
Page 3
Page 4
4. Tangible Assets
Computer Equipment
£
Cost
As at 1 May 2023 6,307
As at 30 April 2024 6,307
Depreciation
As at 1 May 2023 2,589
Provided during the period 1,459
As at 30 April 2024 4,048
Net Book Value
As at 30 April 2024 2,259
As at 1 May 2023 3,718
5. Debtors
2024 2023
£ £
Due within one year
Trade debtors 28,200 23,400
Prepayments and accrued income 605 1,009
Corporation tax recoverable assets 22,524 13,523
Director's loan account 66,737 40,067
118,066 77,999
6. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 32,641 22,499
Bank loans and overdrafts 11,933 8,576
Corporation tax 38,114 24,108
VAT 9,086 2,696
Other creditors 3,966 3,963
Accruals and deferred income 1,870 1,600
97,610 63,442
7. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Bank loans 1,035 3,106
8. Share Capital
2024 2023
Allotted, called up and fully paid £ £
100 Ordinary Shares of £ 1.00 each 100 100
Page 4
Page 5
9. Directors Advances, Credits and Guarantees
Included within Debtors are the following loans to directors:
As at 1 May 2023 Amounts advanced Amounts repaid Amounts written off As at 30 April 2024
£ £ £ £ £
Mr Abdallah Bin Madhi Rovayo 40,067 66,492 39,822 - 66,737
Interest is being charged on the above loan and it is unsecured and repayable on demand.
10. Reserves
Profit and loss account - includes all current and prior period retained profits and losses.
Page 5