Acorah Software Products - Accounts Production 15.0.600 false true true 31 May 2023 1 October 2022 false 1 June 2023 31 May 2024 31 May 2024 10948544 Mr K Singh Mrs H K Mali iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 10948544 2023-05-31 10948544 2024-05-31 10948544 2023-06-01 2024-05-31 10948544 frs-core:CurrentFinancialInstruments 2024-05-31 10948544 frs-core:Non-currentFinancialInstruments 2024-05-31 10948544 frs-core:FurnitureFittings 2024-05-31 10948544 frs-core:FurnitureFittings 2023-06-01 2024-05-31 10948544 frs-core:FurnitureFittings 2023-05-31 10948544 frs-core:ShareCapital 2024-05-31 10948544 frs-core:RetainedEarningsAccumulatedLosses 2024-05-31 10948544 frs-bus:PrivateLimitedCompanyLtd 2023-06-01 2024-05-31 10948544 frs-bus:FilletedAccounts 2023-06-01 2024-05-31 10948544 frs-bus:SmallEntities 2023-06-01 2024-05-31 10948544 frs-bus:AuditExempt-NoAccountantsReport 2023-06-01 2024-05-31 10948544 frs-bus:SmallCompaniesRegimeForAccounts 2023-06-01 2024-05-31 10948544 frs-bus:Director1 2023-06-01 2024-05-31 10948544 frs-bus:Director2 2023-06-01 2024-05-31 10948544 frs-core:CurrentFinancialInstruments 1 2024-05-31 10948544 frs-core:CurrentFinancialInstruments 2 2024-05-31 10948544 frs-countries:EnglandWales 2023-06-01 2024-05-31 10948544 2022-09-30 10948544 2023-05-31 10948544 2022-10-01 2023-05-31 10948544 frs-core:CurrentFinancialInstruments 2023-05-31 10948544 frs-core:Non-currentFinancialInstruments 2023-05-31 10948544 frs-core:ShareCapital 2023-05-31 10948544 frs-core:RetainedEarningsAccumulatedLosses 2023-05-31 10948544 frs-core:CurrentFinancialInstruments 1 2023-05-31 10948544 frs-core:CurrentFinancialInstruments 2 2023-05-31
Registered number: 10948544
Phonetrendz Limited
Unaudited Financial Statements
For The Year Ended 31 May 2024
Goldwyns London LLP
Contents
Page
Statement of Financial Position 1—2
Notes to the Financial Statements 3—5
Page 1
Statement of Financial Position
Registered number: 10948544
31 May 2024 31 May 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 666 889
666 889
CURRENT ASSETS
Debtors 5 - 5,571
Cash at bank and in hand 11,156 19,949
11,156 25,520
Creditors: Amounts Falling Due Within One Year 6 (44,569 ) (25,957 )
NET CURRENT ASSETS (LIABILITIES) (33,413 ) (437 )
TOTAL ASSETS LESS CURRENT LIABILITIES (32,747 ) 452
Creditors: Amounts Falling Due After More Than One Year 7 (5,952 ) (10,853 )
PROVISIONS FOR LIABILITIES
Deferred Taxation (127 ) (222 )
NET LIABILITIES (38,826 ) (10,623 )
CAPITAL AND RESERVES
Called up share capital 8 100 100
Income Statement (38,926 ) (10,723 )
SHAREHOLDERS' FUNDS (38,826) (10,623)
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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
Mrs H K Mali
Director
13/08/2024
The notes on pages 3 to 5 form part of these financial statements.
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Notes to the Financial Statements
1. General Information
Phonetrendz Limited is a private company, limited by shares, incorporated in England & Wales, registered number 10948544 . The registered office is C/O Goldwyns London LLP, No.1 Royal Exchange, London, EC3V 3DG.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
These financial statements are prepared 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 have been prepared under the historical cost convention.

The financial statements are prepared in UK sterling, which is the financial currency of the entity. Monetary amounts in these financial statements are rounded to the nearest UK pound.

The principle accounting policies 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. Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.
2.4. Tangible Fixed Assets and 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:
Fixtures & Fittings 25% Reducing balance
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses.
2.5. Taxation
Taxation for the period 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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2.6. 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 has 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 which the outstanding balance as at the year end was £10,771. This is reported the current and long term liabilities of the balance sheet based on the allocation of payments due within 12 months and greater than 12 months.
2.7. Financial Instrument
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.
2.8. Cash and Cash Equivelent
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.
2.9. 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:
31 May 2024 31 May 2023
Office and administration 3 3
3 3
4. Tangible Assets
Fixtures & Fittings
£
Cost
As at 1 June 2023 5,000
As at 31 May 2024 5,000
...CONTINUED
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Depreciation
As at 1 June 2023 4,111
Provided during the period 223
As at 31 May 2024 4,334
Net Book Value
As at 31 May 2024 666
As at 1 June 2023 889
5. Debtors
31 May 2024 31 May 2023
£ £
Due within one year
Amount owed by connected parties - 5,571
6. Creditors: Amounts Falling Due Within One Year
31 May 2024 31 May 2023
£ £
Bank loans and overdrafts 4,819 4,737
Corporation tax (32 ) (32 )
Other taxes and social security 4,682 4,012
Net wages account 2,454 900
Amount owed to connected parties 21,392 -
Accruals and deferred income 3,600 3,600
Directors' loan accounts 7,654 12,740
44,569 25,957
7. Creditors: Amounts Falling Due After More Than One Year
31 May 2024 31 May 2023
£ £
Bank loan 5,952 10,853
8. Share Capital
31 May 2024 31 May 2023
£ £
Allotted, Called up and fully paid 100 100
The nominal value per Share is £1 and there are 100 Ordinary Shares are in issue.
9. Related Party Transactions
The Directors loan account balance of Mr K Singh and Mrs H K Mali, a director and shareholder of the company, totalled £7,654 as at the year-end, which is a current liability, interest free and repayable on demand.
The amount owed to Trendzfone Ltd, a company related via common control and directorship, totalled £21,392 as at the year-end, which is a current liability, interest free and repayable on demand.
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