Acorah Software Products - Accounts Production 16.1.300 false true true 31 May 2023 1 June 2022 false 1 June 2023 31 May 2024 31 May 2024 13397138 Mr S Shanmugalingam Mr D Sanchayan iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 13397138 2023-05-31 13397138 2024-05-31 13397138 2023-06-01 2024-05-31 13397138 frs-core:CurrentFinancialInstruments 2024-05-31 13397138 frs-core:Non-currentFinancialInstruments 2024-05-31 13397138 frs-core:FurnitureFittings 2024-05-31 13397138 frs-core:FurnitureFittings 2023-06-01 2024-05-31 13397138 frs-core:FurnitureFittings 2023-05-31 13397138 frs-core:NetGoodwill 2024-05-31 13397138 frs-core:NetGoodwill 2023-06-01 2024-05-31 13397138 frs-core:NetGoodwill 2023-05-31 13397138 frs-core:ShareCapital 2024-05-31 13397138 frs-core:RetainedEarningsAccumulatedLosses 2024-05-31 13397138 frs-bus:PrivateLimitedCompanyLtd 2023-06-01 2024-05-31 13397138 frs-bus:FilletedAccounts 2023-06-01 2024-05-31 13397138 frs-bus:SmallEntities 2023-06-01 2024-05-31 13397138 frs-bus:AuditExempt-NoAccountantsReport 2023-06-01 2024-05-31 13397138 frs-bus:SmallCompaniesRegimeForAccounts 2023-06-01 2024-05-31 13397138 frs-bus:Director1 2023-06-01 2024-05-31 13397138 frs-bus:Director2 2023-06-01 2024-05-31 13397138 frs-countries:EnglandWales 2023-06-01 2024-05-31 13397138 2022-05-31 13397138 2023-05-31 13397138 2022-06-01 2023-05-31 13397138 frs-core:CurrentFinancialInstruments 2023-05-31 13397138 frs-core:Non-currentFinancialInstruments 2023-05-31 13397138 frs-core:ShareCapital 2023-05-31 13397138 frs-core:RetainedEarningsAccumulatedLosses 2023-05-31
Registered number: 13397138
Ejan Ltd
Unaudited Financial Statements
For The Year Ended 31 May 2024
Strategic Partnership
Contents
Page
Statement of Financial Position 1—2
Notes to the Financial Statements 3—5
Page 1
Statement of Financial Position
Registered number: 13397138
2024 2023
Notes £ £ £ £
FIXED ASSETS
Intangible Assets 4 9,600 14,400
Tangible Assets 5 30,134 44,368
39,734 58,768
CURRENT ASSETS
Stocks 6 25,000 25,000
Debtors 7 41,654 1,664
Cash at bank and in hand 24,888 16,617
91,542 43,281
Creditors: Amounts Falling Due Within One Year 8 (125,585 ) (101,052 )
NET CURRENT ASSETS (LIABILITIES) (34,043 ) (57,771 )
TOTAL ASSETS LESS CURRENT LIABILITIES 5,691 997
Creditors: Amounts Falling Due After More Than One Year 9 (14,001 ) (19,001 )
PROVISIONS FOR LIABILITIES
Deferred Taxation 10 (7,534 ) (8,430 )
NET LIABILITIES (15,844 ) (26,434 )
CAPITAL AND RESERVES
Called up share capital 11 100 100
Income Statement (15,944 ) (26,534 )
SHAREHOLDERS' FUNDS (15,844) (26,434)
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 S Shanmugalingam
Director
25 February 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
Ejan Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 13397138 . The registered office is 4 Abercorn House Butterfield Road, Boreham, Chelmsford, CM3 3BT.
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 director has considered the prospect of the business for the next twelve months and beyond and has arrived at a reasonable expectation the company will continue to meet its obligations as they fall due. The director has also pledged their financial support to assist with this if required. On this basis, the director 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. 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 amortised to income statement over its estimated economic life of 5 years.
2.5. Tangible Fixed Assets and Depreciation
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures & Fittings 20% Straight Line
Tangible assets are initially recorded at cost and subsequently stated at cost less accumulated depreciation and impairment losses.
2.6. 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.
2.7. Financial Instruments
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. Taxation
Taxation for the year 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.
Page 3
Page 4
2.9. Cash and Cash Equivalents
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.
2.10. Critical Accounting Judgements and Key Sources of Estimation Uncertainity
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 year end.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 1 (2023: 1)
1 1
4. Intangible Assets
Goodwill
£
Cost
As at 1 June 2023 24,000
As at 31 May 2024 24,000
Amortisation
As at 1 June 2023 9,600
Provided during the period 4,800
As at 31 May 2024 14,400
Net Book Value
As at 31 May 2024 9,600
As at 1 June 2023 14,400
5. Tangible Assets
Fixtures & Fittings
£
Cost
As at 1 June 2023 71,169
As at 31 May 2024 71,169
Depreciation
As at 1 June 2023 26,801
Provided during the period 14,234
As at 31 May 2024 41,035
Net Book Value
As at 31 May 2024 30,134
As at 1 June 2023 44,368
Page 4
Page 5
6. Stocks
2024 2023
£ £
Finished goods 25,000 25,000
7. Debtors
2024 2023
£ £
Due within one year
Prepayments and accrued income 40,000 -
Other debtors - 1,260
VAT 1,654 404
41,654 1,664
8. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 85,108 48,205
Other taxes and social security 2,715 928
Net wages 9,378 1,982
Pension payable 234 -
Accruals and deferred income 1,500 6,250
Directors' loan accounts 26,650 43,687
125,585 101,052
9. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Bank loans 14,001 19,001
10. Deferred Taxation
The provision for deferred tax is made up as follows:
2024 2023
£ £
Other timing differences 7,534 8,430
11. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 100 100
The nominal value of each share is £1 and there are 70 Ordinary Shares, 10 Ordinary A Shares, 10 Ordinary B shares and 10 Ordinary Shares in issue.
12. Related Party Transactions
The Director's loan account balance of Mr S Shanmugalingam of £26,650 as at the year- end, is a current liability, interest free and repayable on demand.
Page 5