Acorah Software Products - Accounts Production 16.1.300 false true 31 May 2023 1 June 2022 false 1 June 2023 31 May 2024 31 May 2024 10765071 Mr Kyriacos Menikou Mrs Chrysoulla Menikou iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 10765071 2023-05-31 10765071 2024-05-31 10765071 2023-06-01 2024-05-31 10765071 frs-core:CurrentFinancialInstruments 2024-05-31 10765071 frs-core:ComputerEquipment 2024-05-31 10765071 frs-core:ComputerEquipment 2023-06-01 2024-05-31 10765071 frs-core:ComputerEquipment 2023-05-31 10765071 frs-core:ShareCapital 2024-05-31 10765071 frs-core:RetainedEarningsAccumulatedLosses 2024-05-31 10765071 frs-bus:PrivateLimitedCompanyLtd 2023-06-01 2024-05-31 10765071 frs-bus:FilletedAccounts 2023-06-01 2024-05-31 10765071 frs-bus:SmallEntities 2023-06-01 2024-05-31 10765071 frs-bus:AuditExempt-NoAccountantsReport 2023-06-01 2024-05-31 10765071 frs-bus:SmallCompaniesRegimeForAccounts 2023-06-01 2024-05-31 10765071 frs-bus:Director1 2023-06-01 2024-05-31 10765071 frs-bus:CompanySecretary1 2023-06-01 2024-05-31 10765071 frs-core:CurrentFinancialInstruments 1 2024-05-31 10765071 frs-countries:EnglandWales 2023-06-01 2024-05-31 10765071 2022-05-31 10765071 2023-05-31 10765071 2022-06-01 2023-05-31 10765071 frs-core:CurrentFinancialInstruments 2023-05-31 10765071 frs-core:ShareCapital 2023-05-31 10765071 frs-core:RetainedEarningsAccumulatedLosses 2023-05-31 10765071 frs-core:CurrentFinancialInstruments 1 2023-05-31
Registered number: 10765071
Lotus Unlimited Solutions Ltd
Unaudited Financial Statements
For The Year Ended 31 May 2024
Mouktaris & Co Ltd
Chartered Accountants & Registered Auditors
156a Burnt Oak Broadway
Edgware
Middlesex
HA8 0AX
Contents
Page
Statement of Financial Position 1—2
Notes to the Financial Statements 3—4
Page 1
Statement of Financial Position
Registered number: 10765071
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 687 916
687 916
CURRENT ASSETS
Debtors 5 378 360
Cash at bank and in hand 374,622 400,964
375,000 401,324
Creditors: Amounts Falling Due Within One Year 6 (180,337 ) (174,431 )
NET CURRENT ASSETS (LIABILITIES) 194,663 226,893
TOTAL ASSETS LESS CURRENT LIABILITIES 195,350 227,809
PROVISIONS FOR LIABILITIES
Provisions For Charges (2,100 ) (2,100 )
NET ASSETS 193,250 225,709
CAPITAL AND RESERVES
Called up share capital 7 100 100
Income Statement 193,150 225,609
SHAREHOLDERS' FUNDS 193,250 225,709
Page 1
Page 2
For the year ending 31 May 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 Kyriacos Menikou
Director
30 January 2025
The notes on pages 3 to 4 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Lotus Unlimited Solutions Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 10765071 . The registered office is 156a Burnt Oak Broadway, Edgware, Middlesex, HA8 0AX.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements are prepared under the historical cost convention and in accordance with the FRS 102 Section 1A Small Entities - The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006. The financial statements are prepared in sterling, which is the functional currency of the entity.
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:
Computer Equipment 25% reducing balance
2.3. Foreign Currencies
Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the statement of financial position 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.
2.4. Basic financial assets
Basic financial assets, which include trade and other debtors and cash and bank balances, are initially measured at transaction price including transaction costs and where material are subsequently measured at amortised cost using the effective interest method, less any impairment.
2.5. Basic financial liabilities
Basic financial liabilities, including trade and other payables and loans from company undertakings that are classified as debt are initially measured 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 the market rate of interest.
2.6. Cash and cash equivalents
Cash and cash equivalents include cash in hand, deposits held at call with banks, other short term liquid investmens with original maturities of three months or less.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 2 (2023: 2)
2 2
4. Tangible Assets
Computer Equipment
£
Cost
As at 1 June 2023 3,411
As at 31 May 2024 3,411
Depreciation
As at 1 June 2023 2,495
Provided during the period 229
As at 31 May 2024 2,724
Net Book Value
As at 31 May 2024 687
As at 1 June 2023 916
Page 3
Page 4
5. Debtors
2024 2023
£ £
Due within one year
Corporation tax recoverable (Debtors < 1 year) 378 360
6. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 104,838 113,420
Foreign exchange control (4,242 ) (2,983 )
Directors' loan accounts 79,741 63,994
180,337 174,431
7. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 100 100
Page 4