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 07489891 Mr Imtiaz Ismail Sange Mr Irfan Ismail Sange Mr Akbarali Ismail Sange directors false iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 07489891 2023-05-31 07489891 2024-05-31 07489891 2023-06-01 2024-05-31 07489891 frs-core:ComputerEquipment 2023-06-01 2024-05-31 07489891 frs-core:FurnitureFittings 2023-06-01 2024-05-31 07489891 frs-core:NetGoodwill 2023-06-01 2024-05-31 07489891 frs-core:MotorVehicles 2023-06-01 2024-05-31 07489891 frs-core:ShareCapital 2024-05-31 07489891 frs-core:RetainedEarningsAccumulatedLosses 2024-05-31 07489891 frs-bus:PrivateLimitedCompanyLtd 2023-06-01 2024-05-31 07489891 frs-bus:AbridgedAccounts 2023-06-01 2024-05-31 07489891 frs-bus:SmallEntities 2023-06-01 2024-05-31 07489891 frs-bus:AuditExempt-NoAccountantsReport 2023-06-01 2024-05-31 07489891 frs-bus:SmallCompaniesRegimeForAccounts 2023-06-01 2024-05-31 07489891 1 2023-06-01 2024-05-31 07489891 frs-bus:Director1 2023-06-01 2024-05-31 07489891 frs-bus:Director2 2023-06-01 2024-05-31 07489891 frs-bus:Director3 2023-06-01 2024-05-31 07489891 frs-countries:EnglandWales 2023-06-01 2024-05-31 07489891 2022-05-31 07489891 2023-05-31 07489891 2022-06-01 2023-05-31 07489891 frs-core:ShareCapital 2023-05-31 07489891 frs-core:RetainedEarningsAccumulatedLosses 2023-05-31
Registered number: 07489891
Majrona Karparts Limited
Unaudited ABRIDGED Financial Statements
For The Year Ended 31 May 2024
Contents
Page
Abridged Balance Sheet 1—2
Notes to the Abridged Financial Statements 3—5
Page 1
Abridged Balance Sheet
Registered number: 07489891
2024 2023
Notes £ £ £ £
FIXED ASSETS
Intangible Assets 4 23,500 25,500
Tangible Assets 5 63,158 51,322
86,658 76,822
CURRENT ASSETS
Stocks 217,893 212,538
Debtors 533,143 391,854
Cash at bank and in hand 1,089,816 906,890
1,840,852 1,511,282
Creditors: Amounts Falling Due Within One Year (537,940 ) (437,848 )
NET CURRENT ASSETS (LIABILITIES) 1,302,912 1,073,434
TOTAL ASSETS LESS CURRENT LIABILITIES 1,389,570 1,150,256
PROVISIONS FOR LIABILITIES
Deferred Taxation 6 (6,290 ) (3,703 )
NET ASSETS 1,383,280 1,146,553
CAPITAL AND RESERVES
Called up share capital 7 3 3
Profit and Loss Account 1,383,277 1,146,550
SHAREHOLDERS' FUNDS 1,383,280 1,146,553
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 Profit and Loss Account.
All of the company's members have consented to the preparation of an Abridged Profit and Loss Account and an Abridged Balance Sheet for the year end 31 May 2024 in accordance with section 444(2A) of the Companies Act 2006.
On behalf of the board
Mr Akbarali Ismail Sange
Director
27 February 2025
The notes on pages 3 to 5 form part of these financial statements.
Page 2
Page 3
Notes to the Abridged Financial Statements
1. General Information
Majrona Karparts Limited is a private company, limited by shares, incorporated in England & Wales, registered number 07489891 . The registered office is 157-159 Bolton Road, Blackburn, Lancs, BB2 3QJ.
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 form the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover form 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.
2.3. 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 profit and loss account over its estimated economic life of .... years.
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:
Motor Vehicles 25% reducing balance
Fixtures & Fittings 20% reducing balance
Computer Equipment 20% straight line
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.
Page 3
Page 4
2.6. Taxation
The charge for taxation takes into account taxation deferred as a result of timing differences between the treatment of certain items for taxation and accounting purposes. In general, deferred taxation is recognised in respect of timing differences that have originated but not reversed at the balance sheet date. However, deferred tax assets are recognised only to the extent that the directors consider that it is more likely than not that there will be suitable taxable profits from which the future reversal of the underlying timing differences can be deducted. Deferred taxation is measured on a non-discounted basis at the tax rates that are expected to apply in periods in which the timing differences reverse, based on tax rates and the law enacted or substantively enacted at the balance sheet date.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 17 (2023: 16)
17 16
4. Intangible Assets
Total
£
Cost
As at 1 June 2023 50,000
As at 31 May 2024 50,000
Amortisation
As at 1 June 2023 24,500
Provided during the period 2,000
As at 31 May 2024 26,500
Net Book Value
As at 31 May 2024 23,500
As at 1 June 2023 25,500
5. Tangible Assets
Total
£
Cost
As at 1 June 2023 189,353
Additions 32,314
As at 31 May 2024 221,667
Depreciation
As at 1 June 2023 138,031
Provided during the period 20,478
As at 31 May 2024 158,509
...CONTINUED
Page 4
Page 5
Net Book Value
As at 31 May 2024 63,158
As at 1 June 2023 51,322
6. Deferred Taxation
The provision for deferred tax is made up as follows:
2024 2023
£ £
Other timing differences 6,290 3,703
7. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 3 3
8. Dividends
2024 2023
£ £
On equity shares:
Final dividend paid 300,000 172,500
9. Related Party Transactions
The company operates from a rented property owned by Majrona Properties Limited which is under comman control.
Rent paid during the year £ 60,000.00
10. Controlling Party
The company's controlling party is directors by virtue of the ownership of 60% of the issued share capital in the company.
Page 5