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Registered number: OC367014
Boroumand & Associates LLP
Unaudited Financial Statements
For The Year Ended 31 May 2024
Boroumand & Associates LLP
Chartered Accountants
Suite 105, Viglen House
Alperton Lane
London
HA0 1HD
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: OC367014
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 - 626
- 626
CURRENT ASSETS
Stocks 5 16,200 19,000
Debtors 6 12,150 6,540
Cash at bank and in hand 3,754 28,682
32,104 54,222
Creditors: Amounts Falling Due Within One Year 7 (8,895 ) (9,150 )
NET CURRENT ASSETS (LIABILITIES) 23,209 45,072
TOTAL ASSETS LESS CURRENT LIABILITIES 23,209 45,698
NET ASSETS ATTRIBUTABLE TO MEMBERS 23,209 45,698
REPRESENTED BY:
Equity
Members' other interests
Members' capital (23,405) (7,385)
Other reserves 46,614 53,083
23,209 45,698
TOTAL MEMBERS' INTEREST
Members' other interests 23,209 45,698
23,209 45,698
Page 1
Page 2
For the year ending 31 May 2024 the LLP was entitled to exemption from audit under section 477 of the Companies Act 2006 (as applied by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008 applicable to LLPs subject to the small LLPs regime.)
The members acknowledge their responsibilities for complying with the requirements of the Act (as applied to LLPs) with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to LLPs subject to the small LLPs regime.
The LLP has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the LLP's Profit and Loss Account.
The financial statements were approved by the members on 6 February 2025 and were signed on their behalf by:
Mr Ahmad Reza Salar-Boroumand
Partner
06/02/2025
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
Boroumand & Associates LLP is a limited liability partnership, incorporated in England & Wales, registered number OC367014 . The Registered Office is Suite 105, Viglen House, Alperton Lane, London, HA0 1HD.
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 applicable United Kingdom accounting standards, including Financial Reporting Standard 102 for small limited liability partnerships regime - The Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102), The Statement of Recommended Practice 'Accounting by Limited Liability Partnerships' issued in December 2021 (SORP) and the Companies Act 2006 (as applied to LLPs).
The financial statements are prepared in sterling which is the functional currency of the LLP.
2.2. Going Concern Disclosure
The members have not identified any material uncertainties related to events or conditions that may cast significant doubt about the LLP's ability to continue as a going concern.
2.3. Turnover
Turnover comprises the invoiced value of goods and services supplied by the LLP, net of Value Added Tax and trade discounts.
2.4. Tangible Fixed Assets and Depreciation
Tangible fixed assets are stated at cost less depreciation. 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%
2.5. 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.
2.6. Financial Instruments
The company has elected to apply the provisions of Section 11 'Basic Financial Instruments' and Section 12 'Other Financial Instruments Issues' of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to release the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Classification of financial liabilities
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 company after deducting all of its liabilities.

Basic financial liabilities

Basic financial liabilities, including creditors, bank loans, other loans and preference shares that are classified as debt, are initially recognised 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 a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

...CONTINUED
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2.6. Financial Instruments - continued
Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest rate method.

2.7.
Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of direct issue costs. Dividends payable on equity instruments are recognised as laibilities once they are no longer at the discretion of the company.
2.8.
Cash at bank and in hand

Cash at bank and in hand are basic financial assets and include cash in hand, deposits held at call with banks, other short tem liquid investments with original maturity of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.
2.9. Registrar Filing Requirements
The company has taken advantage of Companies Act 2006 section 444(1) and opted not to file the profit and loss account, directors report, and notes to the financial statements relating to the profit and loss account. The notes which are not included have been hidden but original note numbering has remained the same for those that are present.
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 2,778
As at 31 May 2024 2,778
Depreciation
As at 1 June 2023 2,152
Provided during the period 626
As at 31 May 2024 2,778
Net Book Value
As at 31 May 2024 -
As at 1 June 2023 626
5. Stocks
2024 2023
£ £
Work in progress 16,200 19,000
Page 4
Page 5
6. Debtors
2024 2023
£ £
Due within one year
Trade debtors 9,500 4,340
Prepayments and accrued income 2,650 2,200
12,150 6,540
7. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
VAT 6,061 6,150
Other creditors 2,834 3,000
8,895 9,150
8. Ultimate Controlling Party
The LLP's ultimate controlling party are Mr Bijan Kazemi and Mr Ahmad Reza Salar Boroumand.
Page 5