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 6242330 Mr Shak Inayat iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 6242330 2023-05-31 6242330 2024-05-31 6242330 2023-06-01 2024-05-31 6242330 frs-core:CurrentFinancialInstruments 2024-05-31 6242330 frs-core:Non-currentFinancialInstruments 2024-05-31 6242330 frs-core:OtherReservesSubtotal 2024-05-31 6242330 frs-core:ShareCapital 2024-05-31 6242330 frs-core:RetainedEarningsAccumulatedLosses 2024-05-31 6242330 frs-bus:PrivateLimitedCompanyLtd 2023-06-01 2024-05-31 6242330 frs-bus:AbridgedAccounts 2023-06-01 2024-05-31 6242330 frs-bus:SmallEntities 2023-06-01 2024-05-31 6242330 frs-bus:AuditExempt-NoAccountantsReport 2023-06-01 2024-05-31 6242330 frs-bus:SmallCompaniesRegimeForAccounts 2023-06-01 2024-05-31 6242330 frs-bus:Director1 2023-06-01 2024-05-31 6242330 frs-core:Non-currentFinancialInstruments 1 2024-05-31 6242330 frs-countries:EnglandWales 2023-06-01 2024-05-31 6242330 2022-05-31 6242330 2023-05-31 6242330 2022-06-01 2023-05-31 6242330 frs-core:CurrentFinancialInstruments 2023-05-31 6242330 frs-core:Non-currentFinancialInstruments 2023-05-31 6242330 frs-core:OtherReservesSubtotal 2023-05-31 6242330 frs-core:ShareCapital 2023-05-31 6242330 frs-core:RetainedEarningsAccumulatedLosses 2023-05-31 6242330 frs-core:Non-currentFinancialInstruments 1 2023-05-31
Registered number: 6242330
Penn Financial Limited
Unaudited ABRIDGED Financial Statements
For The Year Ended 31 May 2024
Penn Accounts Ltd
Contents
Page
Balance Sheet 1—2
Notes to the Abridged Financial Statements 3—4
Page 1
Balance Sheet
Registered number: 6242330
2024 2023
Notes £ £ £ £
CURRENT ASSETS
Debtors 4 2,513 487
Cash at bank and in hand 85,135 72,900
87,648 73,387
Creditors: Amounts Falling Due Within One Year 5 (2,048 ) (1,309 )
NET CURRENT ASSETS (LIABILITIES) 85,600 72,078
TOTAL ASSETS LESS CURRENT LIABILITIES 85,600 72,078
Creditors: Amounts Falling Due After More Than One Year 6 (79,500 ) (67,000 )
NET ASSETS 6,100 5,078
CAPITAL AND RESERVES
Called up share capital 7 2 2
Other reserves 79,280 66,900
Profit and Loss Account (73,182 ) (61,824 )
SHAREHOLDERS' FUNDS 6,100 5,078
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 member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his 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.
All of the company's members have consented to the preparation of an Abridged Profit and Loss Account for the year end 31 May 2024 in accordance with section 444(2A) of the Companies Act 2006.
On behalf of the board
Mr Shak Inayat
Director
24 February 2025
The notes on pages 3 to 4 form part of these financial statements.
Page 2
Page 3
Notes to the Abridged Financial Statements
1. General Information
Penn Financial Limited is a private company, limited by shares, incorporated in England & Wales, registered number 6242330 . The registered office is 13 Austin Friars, London, EC2N 2HE.
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.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 2 (2023: 2)
2 2
4. Debtors
2024 2023
£ £
Due within one year
Trade debtors 627 -
Prepayments and accrued income 1,886 487
2,513 487
5. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Other taxes and social security 751 316
Net wages 93 80
Other creditors 245 -
Accruals and deferred income 343 297
Director's loan account 616 616
2,048 1,309
6. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Other creditors (1) 79,500 67,000
Page 3
Page 4
7. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 2 2
Page 4