Acorah Software Products - Accounts Production 16.1.300 false true true 30 September 2024 1 April 2023 false 1 October 2024 15 February 2025 15 February 2025 09501062 Sujata Guha Ravi Prasad Varana Global Holdings Limited true iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 09501062 2024-09-30 09501062 2025-02-15 09501062 2024-10-01 2025-02-15 09501062 frs-core:CurrentFinancialInstruments 2025-02-15 09501062 frs-core:LandBuildings frs-core:LeasedAssetsHeldAsLessee 2024-10-01 2025-02-15 09501062 frs-core:PlantMachinery 2024-10-01 2025-02-15 09501062 frs-core:ShareCapital 2025-02-15 09501062 frs-core:RetainedEarningsAccumulatedLosses 2025-02-15 09501062 frs-bus:PrivateLimitedCompanyLtd 2024-10-01 2025-02-15 09501062 frs-bus:FilletedAccounts 2024-10-01 2025-02-15 09501062 frs-bus:SmallEntities 2024-10-01 2025-02-15 09501062 frs-bus:AuditExempt-NoAccountantsReport 2024-10-01 2025-02-15 09501062 frs-bus:SmallCompaniesRegimeForAccounts 2024-10-01 2025-02-15 09501062 1 2024-10-01 2025-02-15 09501062 frs-bus:Director1 2024-10-01 2025-02-15 09501062 frs-bus:Director2 2024-10-01 2025-02-15 09501062 frs-countries:EnglandWales 2024-10-01 2025-02-15 09501062 2023-03-31 09501062 2024-09-30 09501062 2023-04-01 2024-09-30 09501062 frs-core:CurrentFinancialInstruments 2024-09-30 09501062 frs-core:ShareCapital 2024-09-30 09501062 frs-core:RetainedEarningsAccumulatedLosses 2024-09-30
Registered number: 09501062
Varana UK Limited
Unaudited Financial Statements
For the Period 1 October 2024 to 15 February 2025
Finerva
Contents
Page
Balance Sheet 1
Notes to the Financial Statements 2—4
Page 1
Balance Sheet
Registered number: 09501062
15 February 2025 30 September 2024
Notes £ £ £ £
FIXED ASSETS
CURRENT ASSETS
Stocks 4 - 8,558
Debtors 5 766 16,292
Cash at bank and in hand 5,029 22,059
5,795 46,909
Creditors: Amounts Falling Due Within One Year 6 (2,025 ) (12,022 )
NET CURRENT ASSETS (LIABILITIES) 3,770 34,887
TOTAL ASSETS LESS CURRENT LIABILITIES 3,770 34,887
NET ASSETS 3,770 34,887
CAPITAL AND RESERVES
Called up share capital 7 1,000 1,000
Profit and Loss Account 2,770 33,887
SHAREHOLDERS' FUNDS 3,770 34,887
For the period ending 15 February 2025 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.
On behalf of the board
Ravi Prasad
Director
5 March 2025
The notes on pages 2 to 4 form part of these financial statements.
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Page 2
Notes to the Financial Statements
1. General Information
Varana UK Limited is a private company,  limited by shares, incorporated in England & Wales, registered number 09501062 . The registered office is C/O Browne Jacobson Llp, 15th Floor, 6 Bevis Marks , London, EC3A 7BA.
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. Going Concern Disclosure
As explained in note 9 to the financial statements, the directors believe that the going concern basis is not appropriate, as the company stopped trading on 28 October 2024 and the directors intend to close the company within the next 12 months. The financial statements have therefore been prepared under the "break-up" basis. Assets have been restated to recoverable amounts and creditors falling due after more than one year have been reclassified as current liabilities.
2.3. 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.
2.4. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses.  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:
Leasehold over the period of lease or 10 years straight line
Plant & Machinery 5 years 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.
2.6. Financial Instruments
Trade and other debtors / creditors
Trade and other debtors are recognised initially at transaction prices less attributable transaction costs. Trade and other creditors are recognised initially at transaction price plus attributable transaction costs. Subsequent to initial recognition they are measured at amortised cost using the effective interest method, less any impairment losses in the case of trade debtors. If the arrangement constitutes a financing transaction, for example if payment is deferred beyond normal business terms, then it is measured at the present value of future payments discounted at a market rate of interest for a similar debt instrument.
Impairment of financial assets
Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found an impairment loss is recognised within profit or loss.
For financial assets that are measured at amortised cost, the impairment loss is measured as the difference between the asset’s carrying amount and the present value of estimated cash flows discounted at the asset’s original effective interest rate.
For financial assets measured at cost less impairment, the impairment loss is measured as the difference between the asset’s carrying amount and the best estimate of the amount that the company would receive for the asset if it were to be sold at the balance sheet date.
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2.7. Foreign Currencies
Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet 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.
2.8. Taxation
Income tax expense represents the sum of the tax currently payable tax.
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 for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.
2.9. Pensions
The company operates a defined pension contribution scheme. Contributions are charged to the profit and loss account as they become payable  in accordance with the rules of the scheme.
3. Average Number of Employees
Average number of employees, including directors, during the year was as follows: NIL (2024: 8)
- 8
4. Stocks
15 February 2025 30 September 2024
£ £
Stock - 8,558
During the period, the value of stock was impaired by £Nil (2024: £69,275).
5. Debtors
15 February 2025 30 September 2024
£ £
Due within one year
Other debtors 766 16,292
6. Creditors: Amounts Falling Due Within One Year
15 February 2025 30 September 2024
£ £
Trade creditors 2,025 2,577
Other creditors - 9,445
2,025 12,022
7. Share Capital
15 February 2025 30 September 2024
£ £
Allotted, Called up and fully paid 1,000 1,000
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8. Pension Commitments
The company operates a defined contribution pension scheme for its employees. The assets of the scheme are held separately from those of the company in an independently administered fund. At the balance sheet date unpaid contributions of £0 (2024: £525) were due to the fund.  They are included in other creditors.
9. Post Balance Sheet Events
As disclosed in the accounting policies note at Note 2, the company ceased to trade on 28 October 2024 and the directors have taken the decision to close the company after the balance sheet date. 
The going concern basis is therefore not appropriate and the directors have therefore not prepared the financial statements on this basis.
10. Related Party Transactions
During the period, the loan balance of £Nil (2024: £12,584,140) due to Varana Global Holdings Limited (VGHL) was written off. 
Also, the loan balance of £Nil (2024: £64,496) due from Varana Middle East (VME) was written off during the period.
11. Ultimate Controlling Party
The company's immediate and ultimate controlling party is Varana Global Holdings Limited by virtue of its ownership of 100% of the issued share capital in the company. Varana Global Holdings Limited was incorporated in the Isle of Man. No consolidated accounts have been prepared.
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