Acorah Software Products - Accounts Production 15.0.600 false true true 28 February 2023 1 March 2022 false 1 March 2023 29 February 2024 29 February 2024 13192466 Mrs A Taub Mr R Kumar iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 13192466 2023-02-28 13192466 2024-02-29 13192466 2023-03-01 2024-02-29 13192466 frs-core:CurrentFinancialInstruments 2024-02-29 13192466 frs-core:Non-currentFinancialInstruments 2024-02-29 13192466 frs-core:BetweenOneFiveYears 2024-02-29 13192466 frs-core:ComputerEquipment 2024-02-29 13192466 frs-core:ComputerEquipment 2023-03-01 2024-02-29 13192466 frs-core:ComputerEquipment 2023-02-28 13192466 frs-core:MotorVehicles 2024-02-29 13192466 frs-core:MotorVehicles 2023-03-01 2024-02-29 13192466 frs-core:MotorVehicles 2023-02-28 13192466 frs-core:WithinOneYear 2024-02-29 13192466 frs-core:ShareCapital 2024-02-29 13192466 frs-core:RetainedEarningsAccumulatedLosses 2024-02-29 13192466 frs-bus:PrivateLimitedCompanyLtd 2023-03-01 2024-02-29 13192466 frs-bus:FilletedAccounts 2023-03-01 2024-02-29 13192466 frs-bus:SmallEntities 2023-03-01 2024-02-29 13192466 frs-bus:AuditExempt-NoAccountantsReport 2023-03-01 2024-02-29 13192466 frs-bus:SmallCompaniesRegimeForAccounts 2023-03-01 2024-02-29 13192466 frs-core:DeferredTaxation 2023-03-01 2024-02-29 13192466 frs-core:DeferredTaxation 2023-02-28 13192466 frs-bus:Director1 2023-03-01 2024-02-29 13192466 frs-bus:Director2 2023-03-01 2024-02-29 13192466 frs-bus:Director2 2023-02-28 13192466 frs-bus:Director2 2024-02-29 13192466 frs-countries:EnglandWales 2023-03-01 2024-02-29 13192466 2022-02-28 13192466 2023-02-28 13192466 2022-03-01 2023-02-28 13192466 frs-core:CurrentFinancialInstruments 2023-02-28 13192466 frs-core:Non-currentFinancialInstruments 2023-02-28 13192466 frs-core:BetweenOneFiveYears 2023-02-28 13192466 frs-core:MotorVehicles 2022-03-01 2023-02-28 13192466 frs-core:WithinOneYear 2023-02-28 13192466 frs-core:ShareCapital 2023-02-28 13192466 frs-core:RetainedEarningsAccumulatedLosses 2023-02-28 13192466 frs-core:CurrentFinancialInstruments 7 2023-02-28
Cato Services Limited
Unaudited Financial Statements
For The Year Ended 29 February 2024
Goldwyns London LLP
Contents
Page
Statement of Financial Position 1—2
Notes to the Financial Statements 3—6
Page 1
Statement of Financial Position
Registered number: 13192466
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 31,908 14,563
31,908 14,563
CURRENT ASSETS
Debtors 5 114,706 184,713
Cash at bank and in hand 103,681 10,657
218,387 195,370
Creditors: Amounts Falling Due Within One Year 6 (1,138,287 ) (633,064 )
NET CURRENT ASSETS (LIABILITIES) (919,900 ) (437,694 )
TOTAL ASSETS LESS CURRENT LIABILITIES (887,992 ) (423,131 )
Creditors: Amounts Falling Due After More Than One Year 7 (14,040 ) (16,409 )
PROVISIONS FOR LIABILITIES
Deferred Taxation - (3,641 )
NET LIABILITIES (902,032 ) (443,181 )
CAPITAL AND RESERVES
Called up share capital 10 100 100
Income Statement (902,132 ) (443,281 )
SHAREHOLDERS' FUNDS (902,032) (443,181)
Page 1
Page 2
For the year ending 29 February 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 R Kumar
Director
20/02/2025
The notes on pages 3 to 6 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Cato Services Limited is a private company, limited by shares, incorporated in England & Wales, registered number 13192466 . The registered office is 33 Cavendish Square, Office 408, London, W1G 0PW.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
These financial statements have been prepared in accordance with the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "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 functional 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 has 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 the following annual rates in order to write off each asset over its estimated useful life.
Motor Vehicles 25% Reducing Balance
Computer Equipment 25% Reducing Balance
Tangible assets are initially recorded at cost and subsequently stated at cost less accumulated depreciation and impairment losses.
2.5. Leasing and Hire Purchase Contracts
Assets obtained under finance leases are capitalised as tangible fixed assets. Assets acquired under finance leases are depreciated over the shorter of the lease term and their useful lives. Assets acquired under hire purchase contracts are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in the creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the income statement so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.

Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to income statement as incurred.
2.6. 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
2.7. 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. 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.
2.9. 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:
2024 2023
Office and administration 7 19
7 19
4. Tangible Assets
Motor Vehicles Computer Equipment Total
£ £ £
Cost
As at 1 March 2023 25,508 383 25,891
Additions 27,982 - 27,982
As at 29 February 2024 53,490 383 53,873
Depreciation
As at 1 March 2023 11,160 168 11,328
Provided during the period 10,583 54 10,637
As at 29 February 2024 21,743 222 21,965
Net Book Value
As at 29 February 2024 31,747 161 31,908
As at 1 March 2023 14,348 215 14,563
Included above are assets held under finance leases or hire purchase contracts with a net book value as follows:
2024 2023
£ £
Motor Vehicles 10,761 14,348
Page 4
Page 5
5. Debtors
2024 2023
£ £
Due within one year
Trade debtors 64,073 73,618
Other debtors 31,598 24,416
VAT recoverable - 28,158
Other taxes and social security - 30,506
Directors' loan accounts 19,035 13,015
Amounts owed by connected undertakings - 15,000
114,706 184,713
6. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Net obligations under finance lease and hire purchase contracts 2,368 2,368
Trade creditors 107,276 96,775
Other taxes and social security 85,478 -
VAT payable 23,161 -
Accruals and deferred income 6,394 -
Directors' loan accounts 23,347 413,921
Amounts owed to connected undertakings 890,263 120,000
1,138,287 633,064
7. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Net obligations under finance lease and hire purchase contracts 14,040 16,409
8. Obligations Under Finance Leases and Hire Purchase
2024 2023
£ £
The future minimum finance lease payments are as follows:
Not later than one year 2,368 2,368
Later than one year and not later than five years 14,040 16,409
16,408 18,777
16,408 18,777
9. Provisions for Liabilities
Deferred Tax Total
£ £
As at 1 March 2023 3,641 3,641
Reversals (3,641 ) (3,641)
Page 5
Page 6
10. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 100 100
The nominal value per share is £1. As at the year-end, there are 100 Ordinary shares in issue.
11. Other Commitments
The total of future minimum lease payments under non-cancellable operating leases are as following:
2024 2023
£ £
Not later than one year 2,320 3,480
Later than one year and not later than five years - 2,320
2,320 5,800
12. Directors Advances, Credits and Guarantees
Included within Debtors are the following loans to directors:
As at 1 March 2023 Amounts advanced Amounts repaid Amounts written off As at 29 February 2024
£ £ £ £ £
Mrs A Taub 13,015 6,019 - - 19,035
The above outstanding amounts are to be repaid within nine months of the the year-end.
13. Related Party Transactions
As at the year-end, the directors' loan account balance of Mr R Kumar, a director and shareholder of the company, is £23,347. This amount is a current liability, interest free and repayable on demand.
As at the year-end, the directors' loan account balance of Mrs A Taub, a director and shareholder of the company, is £19,035. This amount is a current asset, of which interest is charged at a rate of 2.25% per annum on any overdrawn balance in the year that is above £10,000. This outstanding amount will be repaid to the company within nine months of the year-end.
As at the year-end, the company owed Alford Developments Limited, a company related via common ownership and directorship, £730,263. This amount is a current liability, interest free and repayable on demand.
As at the year-end, the company owed Chiltern Estates Limited, a company related via common ownership and directorship, £60,000. This amount is a current liability, interest free and repayable on demand.
As at the year-end, the company owed Thinc Digital Limited, a company related via common ownership and directorship, £100,000. This amount is a current liability, interest free and repayable on demand.
Page 6