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 07859314 Mr Syed Abedi Mrs Megan Jean Gallen Dr Mahmud Abdalraheem Shukri Alam Dr Aeman Yaakob Kezar AlMasodi iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 07859314 2023-04-30 07859314 2024-04-30 07859314 2023-05-01 2024-04-30 07859314 frs-core:CurrentFinancialInstruments 2024-04-30 07859314 frs-core:Non-currentFinancialInstruments 2024-04-30 07859314 frs-core:ComputerEquipment 2024-04-30 07859314 frs-core:ComputerEquipment 2023-05-01 2024-04-30 07859314 frs-core:ComputerEquipment 2023-04-30 07859314 frs-core:FurnitureFittings 2024-04-30 07859314 frs-core:FurnitureFittings 2023-05-01 2024-04-30 07859314 frs-core:FurnitureFittings 2023-04-30 07859314 frs-core:NetGoodwill 2023-05-01 2024-04-30 07859314 frs-core:MotorVehicles 2024-04-30 07859314 frs-core:MotorVehicles 2023-05-01 2024-04-30 07859314 frs-core:MotorVehicles 2023-04-30 07859314 frs-core:ShareCapital 2024-04-30 07859314 frs-core:RetainedEarningsAccumulatedLosses 2024-04-30 07859314 frs-bus:PrivateLimitedCompanyLtd 2023-05-01 2024-04-30 07859314 frs-bus:FilletedAccounts 2023-05-01 2024-04-30 07859314 frs-bus:SmallEntities 2023-05-01 2024-04-30 07859314 frs-bus:AuditExempt-NoAccountantsReport 2023-05-01 2024-04-30 07859314 frs-bus:SmallCompaniesRegimeForAccounts 2023-05-01 2024-04-30 07859314 frs-bus:Director1 2023-05-01 2024-04-30 07859314 frs-bus:Director1 2023-04-30 07859314 frs-bus:Director1 2024-04-30 07859314 frs-bus:Director2 2023-05-01 2024-04-30 07859314 frs-bus:Director3 2023-05-01 2024-04-30 07859314 frs-bus:Director4 2023-05-01 2024-04-30 07859314 frs-core:Non-currentFinancialInstruments 1 2024-04-30 07859314 frs-core:CurrentFinancialInstruments 2 2024-04-30 07859314 frs-countries:EnglandWales 2023-05-01 2024-04-30 07859314 2022-04-30 07859314 2023-04-30 07859314 2022-05-01 2023-04-30 07859314 frs-core:CurrentFinancialInstruments 2023-04-30 07859314 frs-core:Non-currentFinancialInstruments 2023-04-30 07859314 frs-core:ShareCapital 2023-04-30 07859314 frs-core:RetainedEarningsAccumulatedLosses 2023-04-30 07859314 frs-core:Non-currentFinancialInstruments 1 2023-04-30 07859314 frs-core:CurrentFinancialInstruments 2 2023-04-30
Registered number: 07859314
Pier Technology Ltd
Unaudited Financial Statements
For The Year Ended 30 April 2024
AGAssociates
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 07859314
2024 2023
Notes £ £ £ £
FIXED ASSETS
Intangible Assets 20,000 20,000
Tangible Assets 4 13,573 17,114
33,573 37,114
CURRENT ASSETS
Debtors 5 288,020 360,890
Cash at bank and in hand 66 528
288,086 361,418
Creditors: Amounts Falling Due Within One Year 6 (132,700 ) (66,024 )
NET CURRENT ASSETS (LIABILITIES) 155,386 295,394
TOTAL ASSETS LESS CURRENT LIABILITIES 188,959 332,508
Creditors: Amounts Falling Due After More Than One Year 7 (131,411 ) (246,860 )
NET ASSETS 57,548 85,648
CAPITAL AND RESERVES
Called up share capital 8 10,000 10,000
Profit and Loss Account 47,548 75,648
SHAREHOLDERS' FUNDS 57,548 85,648
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 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
Mr Syed Abedi
Director
30/01/2025
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
Pier Technology Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 07859314 . The registered office is 43 Calthorpe Road, Edgbaston, Birmingham, B15 1TS.
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 is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
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. Intangible Fixed Assets and Amortisation - Goodwill
Goodwill is the difference between amounts paid on the acquisition of a business and the fair value of the separable net assets. It is not being amortised.
2.4. 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:
Motor Vehicles 20% reducing balance
Fixtures & Fittings 15 % straight line
Computer Equipment 33% reducing balance
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 year 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.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period 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 assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and asset reflects the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current or deferred tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.
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3. Average Number of Employees
Average number of employees, including directors, during the year was: 13 (2023: 14)
13 14
4. Tangible Assets
Motor Vehicles Fixtures & Fittings Computer Equipment Total
£ £ £ £
Cost
As at 1 May 2023 35,000 4,667 18,547 58,214
Additions - - 760 760
As at 30 April 2024 35,000 4,667 19,307 58,974
Depreciation
As at 1 May 2023 23,531 4,076 13,493 41,100
Provided during the period 2,294 88 1,919 4,301
As at 30 April 2024 25,825 4,164 15,412 45,401
Net Book Value
As at 30 April 2024 9,175 503 3,895 13,573
As at 1 May 2023 11,469 591 5,054 17,114
5. Debtors
2024 2023
£ £
Due within one year
Trade debtors 500 500
Prepayments and accrued income 62,731 61,097
Other debtors 5,300 37,494
Directors' loan accounts 62,436 53,609
130,967 152,700
Due after more than one year
Other debtors (Debtors > 1 year) 157,053 208,190
288,020 360,890
6. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 6,258 6,259
Bank loans and overdrafts 28,942 -
Corporation tax 41,676 25,510
Other taxes and social security 30,107 16,274
VAT 14,775 6,980
Pension control account (Current liabilities - creditors < 1 year) 2,192 2,251
Accruals and deferred income 8,750 8,750
132,700 66,024
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7. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Bank loans 21,221 31,114
Other creditors (Loan Funding Circle) 23,364 45,420
Directors loan account 86,826 170,326
131,411 246,860
8. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 10,000 10,000
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 Syed Abedi 53,609 120,180 111,353 - 62,436
The above loan is unsecured, interest free and repayable on demand.
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