Acorah Software Products - Accounts Production 15.0.600 false true true 30 April 2023 1 May 2022 false 1 May 2023 30 April 2024 30 April 2024 11947225 Mr V Gandhi Mr R Kumar iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 11947225 2023-04-30 11947225 2024-04-30 11947225 2023-05-01 2024-04-30 11947225 frs-core:CurrentFinancialInstruments 2024-04-30 11947225 frs-core:Non-currentFinancialInstruments 2024-04-30 11947225 frs-core:ComputerEquipment 2024-04-30 11947225 frs-core:ComputerEquipment 2023-05-01 2024-04-30 11947225 frs-core:ComputerEquipment 2023-04-30 11947225 frs-core:FurnitureFittings 2024-04-30 11947225 frs-core:FurnitureFittings 2023-05-01 2024-04-30 11947225 frs-core:FurnitureFittings 2023-04-30 11947225 frs-core:ShareCapital 2024-04-30 11947225 frs-core:RetainedEarningsAccumulatedLosses 2024-04-30 11947225 frs-bus:PrivateLimitedCompanyLtd 2023-05-01 2024-04-30 11947225 frs-bus:FilletedAccounts 2023-05-01 2024-04-30 11947225 frs-bus:SmallEntities 2023-05-01 2024-04-30 11947225 frs-bus:AuditExempt-NoAccountantsReport 2023-05-01 2024-04-30 11947225 frs-bus:SmallCompaniesRegimeForAccounts 2023-05-01 2024-04-30 11947225 frs-bus:Director1 2023-05-01 2024-04-30 11947225 frs-bus:Director2 2023-05-01 2024-04-30 11947225 frs-countries:EnglandWales 2023-05-01 2024-04-30 11947225 2022-04-30 11947225 2023-04-30 11947225 2022-05-01 2023-04-30 11947225 frs-core:CurrentFinancialInstruments 2023-04-30 11947225 frs-core:Non-currentFinancialInstruments 2023-04-30 11947225 frs-core:ShareCapital 2023-04-30 11947225 frs-core:RetainedEarningsAccumulatedLosses 2023-04-30
Registered number: 11947225
Vestrow Limited
Unaudited Financial Statements
For The Year Ended 30 April 2024
Goldwyns London LLP
Contents
Page
Statement of Financial Position 1—2
Notes to the Financial Statements 3—6
Page 1
Statement of Financial Position
Registered number: 11947225
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 257 359
257 359
CURRENT ASSETS
Debtors 5 62,019 67,438
Cash at bank and in hand 1,202 9,899
63,221 77,337
Creditors: Amounts Falling Due Within One Year 6 (160,857 ) (157,720 )
NET CURRENT ASSETS (LIABILITIES) (97,636 ) (80,383 )
TOTAL ASSETS LESS CURRENT LIABILITIES (97,379 ) (80,024 )
Creditors: Amounts Falling Due After More Than One Year 7 (11,667 ) (23,405 )
PROVISIONS FOR LIABILITIES
Deferred Taxation - (68 )
NET LIABILITIES (109,046 ) (103,497 )
CAPITAL AND RESERVES
Called up share capital 8 100 100
Income Statement (109,146 ) (103,597 )
SHAREHOLDERS' FUNDS (109,046) (103,497)
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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 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 R Kumar
Director
14/01/2025
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
Vestrow Limited is a private company, limited by shares, incorporated in England & Wales, registered number 11947225 . The registered office is 33 Cavendish Square, Room 408, London, W1G 0PW.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
These financial statements have been prepared in accordance with the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland"and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.
The financial statements are prepared in UK sterling, which is the functional currency of the entity. Monetary amounts in these financial statements are rounded to the nearest UK pound.
The principle accounting polices adopted are set below.
2.2. Going Concern Disclosure
The directors have considered the prospect of the business for the next twelve months and beyond and have arrived at a reasonable expectation the company will continue to meet its obligations as they fall due. The Directors have also pledged their financial support to assist with this if required. On this basis, the directors will continue to adopt the going concern basis of accounting in preparing the financial statements.
2.3. Tangible Fixed Assets and Depreciation
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures & Fittings 25% on a Reducing Balance Method
Computer Equipment 33.33% on a Reducing Balance Method
Tangible assets are initially recorded at cost and subsequently stated at cost less accumulated depreciation and impairment losses.
2.4. Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.
Current or deferred taxation assets and liabilities are not discounted.
Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the statement of financial position date.
Deferred Tax
Deferred tax liabilities are generally recognised for all timing differences and 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. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit. 
The carrying amount of deferred tax assets is reviewed at each reporting end date 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 is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.
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2.5. Government Grant
Government grants are recognised in the income statement 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 income statement. Grants towards general activities of the entity over a specific period are recognised in the income statement 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 income statement over the useful life of the asset concerned.
All grants in the income statement are recognised when all conditions for receipt have been complied with.
Government Assistance
The company received assistance in the form of a government backed loan (including Coronavirus Business Interruption Loan Scheme (CBILS), Coronavirus Large Business Interruption Loan Scheme (CLBILS), Bounce Back Loan Scheme (BBLS) and Future Fund Scheme of £21,667 during the year ended 30 April 2024. This is reported the current and long term liabilities of the balance sheet based on the allocation of payments due within 12 months (£10,000) and greater than 12 months (£11,667).
2.6. Financial instruments
The company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other debtors, creditors, loans from banks and other third parties, loans to related parties and investments in non-puttable ordinary shares.
2.7. Cash and cash equivalents
Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.
2.8. Critical Accounting Judgements and Key Sources of Estimation Uncertainty
In the application of the company's accounting policies management is required to make judgements, estimates and assumptions about the carrying value of assets and liabilities that are not readily ascertainable from other sources. The estimates and underlying assumptions are based on historical experience and other factors that are considered to be relevant. Actual outcomes may differ from these estimates.
The estimates and underlying assumptions are reviewed on a continuing basis. Revisions to accounting estimates are recognised in the period in which the estimates are revised.
The key areas of estimation uncertainty that have a significant effect on the amounts recognised in the financial statements are described below:
Accrued Expenditure
The company includes a provision for invoices which are yet to be received from and amounts paid in advance to suppliers.These provisions are estimated based upon the expected values of the invoices which are issued and services received following the period end.
3. Average Number of Employees
Average number of employees, including directors, during the year was:
2024 2023
Office and administration 2 2
2 2
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4. Tangible Assets
Fixtures & Fittings Computer Equipment Total
£ £ £
Cost
As at 1 May 2023 500 501 1,001
As at 30 April 2024 500 501 1,001
Depreciation
As at 1 May 2023 289 353 642
Provided during the period 53 49 102
As at 30 April 2024 342 402 744
Net Book Value
As at 30 April 2024 158 99 257
As at 1 May 2023 211 148 359
5. Debtors
2024 2023
£ £
Due within one year
VAT recoverable 19 6
Amounts owed by group undertakings 62,000 67,432
62,019 67,438
6. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 91 60,792
Bank loans and overdrafts 10,000 10,000
Other creditors 15,000 38,457
Directors' loan accounts 107,780 38,471
Amounts owed to group undertakings 17,986 -
Amounts owed to parent undertakings 10,000 10,000
160,857 157,720
7. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Bank loans 11,667 23,405
8. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 100 100
The nominal value per share is £1 and as at the year-end there are 100 Ordinary shares in issue.
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9. Related Party Transactions
As at the year-end, the directors' loan account balance of Mr. R Kumar is £68,571. This amount is a current liability, interest free and repayable on demand.
As at the year-end, the directors' loan account balance of Mr. V Gandhi is £39,209. This amount is a current liability, interest free and repayable on demand.
As at the year-end, Vestrow Business Limited, a fully owned subsidiary of the company with common directorship, owed the company £52,400. This amount is a current asset, interest free and repayable on demand.
As at the year-end, Vestrow Events Limited, an indirect fully owned subsidiary of the company with common directorship, owed the company £9,600. This amount is a current asset, interest free and repayable on demand.
As at the year-end, the company owed Vestrow Property Limited, a fully owned subsidiary of the company with common directorship, £17,986. This amount is a current liability, interest free and repayable on demand.
As at the year-end, the company owed Key2Investing Limited, a part owner of the company with common directorship, £10.000. This amount is a current liability, interest free and repayable on demand.
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