Acorah Software Products - Accounts Production 16.1.300 false true true 31 July 2023 1 August 2022 false 1 August 2023 31 July 2024 31 July 2024 12748023 Mr Syed Ali Mrs Madiha Tauseen iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 12748023 2023-07-31 12748023 2024-07-31 12748023 2023-08-01 2024-07-31 12748023 frs-core:CurrentFinancialInstruments 2024-07-31 12748023 frs-core:ComputerEquipment 2024-07-31 12748023 frs-core:ComputerEquipment 2023-08-01 2024-07-31 12748023 frs-core:ComputerEquipment 2023-07-31 12748023 frs-core:FurnitureFittings 2024-07-31 12748023 frs-core:FurnitureFittings 2023-08-01 2024-07-31 12748023 frs-core:FurnitureFittings 2023-07-31 12748023 frs-core:LandBuildings frs-core:OwnedOrFreeholdAssets 2024-07-31 12748023 frs-core:LandBuildings frs-core:OwnedOrFreeholdAssets 2023-08-01 2024-07-31 12748023 frs-core:LandBuildings frs-core:OwnedOrFreeholdAssets 2023-07-31 12748023 frs-core:PlantMachinery 2024-07-31 12748023 frs-core:PlantMachinery 2023-08-01 2024-07-31 12748023 frs-core:PlantMachinery 2023-07-31 12748023 frs-core:ShareCapital 2024-07-31 12748023 frs-core:RetainedEarningsAccumulatedLosses 2024-07-31 12748023 frs-bus:PrivateLimitedCompanyLtd 2023-08-01 2024-07-31 12748023 frs-bus:FilletedAccounts 2023-08-01 2024-07-31 12748023 frs-bus:SmallEntities 2023-08-01 2024-07-31 12748023 frs-bus:AuditExempt-NoAccountantsReport 2023-08-01 2024-07-31 12748023 frs-bus:SmallCompaniesRegimeForAccounts 2023-08-01 2024-07-31 12748023 frs-bus:OrdinaryShareClass1 2023-08-01 2024-07-31 12748023 frs-bus:OrdinaryShareClass1 2024-07-31 12748023 frs-bus:Director1 2023-08-01 2024-07-31 12748023 frs-bus:Director1 2023-07-31 12748023 frs-bus:Director1 2024-07-31 12748023 frs-bus:CompanySecretary1 2023-08-01 2024-07-31 12748023 frs-countries:EnglandWales 2023-08-01 2024-07-31 12748023 2022-07-31 12748023 2023-07-31 12748023 2022-08-01 2023-07-31 12748023 frs-core:CurrentFinancialInstruments 2023-07-31 12748023 frs-core:ShareCapital 2023-07-31 12748023 frs-core:RetainedEarningsAccumulatedLosses 2023-07-31 12748023 frs-bus:OrdinaryShareClass1 2022-08-01 2023-07-31 12748023 frs-core:CurrentFinancialInstruments 1 2023-07-31
Registered number: 12748023
MAD CAD LTD
Unaudited Financial Statements
For The Year Ended 31 July 2024
Contents
Page
Statement of Financial Position 1
Notes to the Financial Statements 2—5
Page 1
Statement of Financial Position
Registered number: 12748023
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible assets 4 14,371 15,447
14,371 15,447
CURRENT ASSETS
Debtors 5 12,927 6,930
Cash at bank and in hand 13,450 12,693
26,377 19,623
Creditors: Amounts falling due within one year 6 (19,839 ) (14,562 )
NET CURRENT ASSETS (LIABILITIES) 6,538 5,061
TOTAL ASSETS LESS CURRENT LIABILITIES 20,909 20,508
NET ASSETS 20,909 20,508
CAPITAL AND RESERVES
Called up share capital 7 2 2
Income Statement 20,907 20,506
SHAREHOLDERS' FUNDS 20,909 20,508
For the year ending 31 July 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 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 Income Statement.
The financial statements were approved by the board of directors on 15 March 2025 and were signed on its behalf by:
Mr Syed Ali
Director
15 March 2025
The notes on pages 2 to 5 form part of these financial statements.
Page 1
Page 2
Notes to the Financial Statements
1. General Information
MAD CAD LTD is a private company, limited by shares, incorporated in England & Wales, registered number 12748023 . The registered office is 8 Potsford Road, Cawston, Rugby, CV22 7YY.
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 FRS 102 Section 1A, The Financial Reporting Standard applicable in the UK and Republic of Ireland - Small Entities and the Companies Act 2006.
2.2. Going Concern Disclosure
The director has not identified any material uncertainties related to events or conditions that may cast significant doubt about the company's ability to continue as a going concern.
2.3. Turnover
Turnover is measured at the fair value of the consideration received or receivable for services rendered in the normal course of business, net of discounts, value added taxes and other applicable sales taxes.
Rendering of services
Turnover from the rendering of engineering design services is recognised in the period in which the services are rendered.
2.4. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is charged to the income statement at the following rates in order to write off the cost of the assets, less their estimated residual value, over their estimated useful lives:
Freehold 20% straight line
Plant & Machinery Mixture of 25%, 33% and 50% straight line
Fixtures & Fittings 33% straight line
Computer Equipment Mixture of 33% and 50% straight line
2.5. Financial Instruments
Basic financial instruments
Cash and cash equivalents, and trade and other debtors and creditors, are classified as basic financial instruments.
Basic financial instruments not constituting financing transactions are initially recognised at transaction price. For arrangements constituting financing transactions, different recognition criteria apply:
  • Loans to the company from a person who is within a director's group of close family members that contains at least one shareholder are also initially recognised at transaction price.
  • All other arrangements constituting financing transactions are initially recognised at the present value of the future payments or receipts discounted at a market rate of interest.
Subsequent to initial recognition:
  • Basic financial instruments classified as payable or receivable after more than one year are measured at amortised cost using the effective interest method.
  • Basic financial instruments classified as payable or receivable within one year are only amortised if the effect is material.
Cash and cash equivalents
Cash in hand, bank balances, and short-term deposits with an original maturity of three months or less, which are readily convertible to known amounts of cash and subject to an insignificant risk of changes in value, are classified as cash and cash equivalents. These amounts are included in 'Cash at bank and in hand' on the statement of financial position.
Bank overdrafts are generally classified separately as creditors under current liabilities. However, if overdrafts are repayable on demand and the company has a legally enforceable right to set them off against cash and cash equivalents, they may be offset in certain circumstances.
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2.6. Foreign Currencies
Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the statement of financial position date. Transactions in foreign currencies are translated into sterling at the rate ruling on the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
2.7. Taxation
Income tax expense represents the sum of the tax currently payable.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Current tax for the year is recognised in profit or loss, except when it relates to items that are recognised in other comprehensive income or directly in equity, in which case the current tax is also recognised in other comprehensive income or directly in equity respectively.
2.8. Government Grant
Government grants are recognised in the statement of financial position at the fair value of the assets received or receivable when there is reasonable assurance that the grant conditions will be met and the grants will be received.
Grants that impose specified future performance-related conditions are recognised in the income statement when the performance-related conditions are met. Grants that do not impose specified future performance-related conditions are recognised in income when the grant proceeds are received or receivable.
Grants received or receivable before the revenue recognition criteria are satisfied are recognised as a deferred income liability.
2.9. Presentation Currency
The financial statements are presented in £ sterling, which is the functional currency of the company.
2.10. Registrar Filing Requirements
The company has taken advantage of Companies Act 2006 section 444(1) and opted not to file the income statement, director's report, and notes to the financial statements relating to the income statement.
3. Average Number of Employees
The average number of employees, including directors and other officers, during the year was: 2 (2023: 2)
2 2
4. Tangible assets
Land & Property
Freehold Plant & Machinery Fixtures & Fittings Computer Equipment Total
£ £ £ £ £
Cost
As at 1 August 2023 - 22,127 905 2,412 25,444
Additions 1,459 721 361 3,434 5,975
Disposals - (379 ) - - (379 )
As at 31 July 2024 1,459 22,469 1,266 5,846 31,040
Depreciation
As at 1 August 2023 - 7,521 523 1,953 9,997
Provided during the period 97 5,635 306 1,013 7,051
Disposals - (379 ) - - (379 )
As at 31 July 2024 97 12,777 829 2,966 16,669
Net Book Value
As at 31 July 2024 1,362 9,692 437 2,880 14,371
As at 1 August 2023 - 14,606 382 459 15,447
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5. Debtors
2024 2023
£ £
Due within one year
Trade debtors 12,507 6,930
Other taxes and social security 420 -
12,927 6,930
6. Creditors: Amounts falling due within one year
2024 2023
£ £
Corporation tax 13,083 8,259
Other taxes and social security - 210
VAT 6,217 5,562
Staff expense reimbursements payable - 531
Director's loan account 227 -
Amounts owed to other participating interests 312 -
19,839 14,562
7. Share Capital
2024 2023
Allotted, called up and fully paid £ £
2 Ordinary shares of £ 1.00 each 2 2
8. Directors Advances, Credits and Guarantees
Loans to directors
Included within Debtors are the following loans to directors:
As at 1 August 2023 Amounts advanced Amounts repaid Amounts written off As at 31 July 2024
£ £ £ £ £
Mr Syed Ali - 85 85 - -
The above loan is interest-free, unsecured and repayable on demand.
9. Dividends
2024 2023
£ £
On equity shares:
Interim dividend paid 47,500 36,000
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10. Related Party Transactions
During the year, the company entered into the following transactions with related parties:
Owners holding a participating interest
During the year, the company received loans from Mr S Ali, the sole director and a shareholder with a participating interest, totalling £227 (2023: £5,000). At the reporting date, the outstanding loan balance was £227 (2023: £0). The maximum balance outstanding during the year was £227 (2023: £5,000).
This amount is interest-free, unsecured and repayable on demand.
During the year, the company received loans from Mrs M Tauseen, a shareholder with a participating interest, totalling £312 (2023: £0). At the reporting date, the outstanding loan balance was £312 (2023: £0). The maximum balance outstanding during the year was £312 (2023: £0).
This amount is interest-free, unsecured and repayable on demand.
For details of loans to directors, see the Directors' Advances, Credits and Guarantees note.
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