Acorah Software Products - Accounts Production 16.1.300 false true 31 July 2023 1 August 2022 false 1 August 2023 31 July 2024 31 July 2024 08605984 Mr Dr Liaqat Malik Mr Irfan Malik iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 08605984 2023-07-31 08605984 2024-07-31 08605984 2023-08-01 2024-07-31 08605984 frs-core:CurrentFinancialInstruments 2024-07-31 08605984 frs-core:Non-currentFinancialInstruments 2024-07-31 08605984 frs-core:LandBuildings frs-core:OwnedOrFreeholdAssets 2024-07-31 08605984 frs-core:LandBuildings frs-core:OwnedOrFreeholdAssets 2023-08-01 2024-07-31 08605984 frs-core:LandBuildings frs-core:OwnedOrFreeholdAssets 2023-07-31 08605984 frs-core:PlantMachinery 2024-07-31 08605984 frs-core:PlantMachinery 2023-08-01 2024-07-31 08605984 frs-core:PlantMachinery 2023-07-31 08605984 frs-core:RevaluationReserve 2024-07-31 08605984 frs-core:ShareCapital 2024-07-31 08605984 frs-core:RetainedEarningsAccumulatedLosses 2024-07-31 08605984 frs-bus:PrivateLimitedCompanyLtd 2023-08-01 2024-07-31 08605984 frs-bus:FilletedAccounts 2023-08-01 2024-07-31 08605984 frs-bus:SmallEntities 2023-08-01 2024-07-31 08605984 frs-bus:AuditExempt-NoAccountantsReport 2023-08-01 2024-07-31 08605984 frs-bus:SmallCompaniesRegimeForAccounts 2023-08-01 2024-07-31 08605984 frs-bus:Director1 2023-08-01 2024-07-31 08605984 frs-bus:Director2 2023-08-01 2024-07-31 08605984 frs-countries:EnglandWales 2023-08-01 2024-07-31 08605984 2022-07-31 08605984 2023-07-31 08605984 2022-08-01 2023-07-31 08605984 frs-core:CurrentFinancialInstruments 2023-07-31 08605984 frs-core:Non-currentFinancialInstruments 2023-07-31 08605984 frs-core:RevaluationReserve 2023-07-31 08605984 frs-core:ShareCapital 2023-07-31 08605984 frs-core:RetainedEarningsAccumulatedLosses 2023-07-31
Registered number: 08605984
Malik Assets Limited
Financial Statements
For The Year Ended 31 July 2024
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—4
Page 1
Balance Sheet
Registered number: 08605984
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 3 1,343,489 1,305,992
1,343,489 1,305,992
CURRENT ASSETS
Cash at bank and in hand 4,254 7,083
4,254 7,083
Creditors: Amounts Falling Due Within One Year 4 (673,658 ) (674,687 )
NET CURRENT ASSETS (LIABILITIES) (669,404 ) (667,604 )
TOTAL ASSETS LESS CURRENT LIABILITIES 674,085 638,388
Creditors: Amounts Falling Due After More Than One Year 5 (580,000 ) (580,000 )
NET ASSETS 94,085 58,388
CAPITAL AND RESERVES
Called up share capital 6 2 2
Revaluation reserve 307,800 307,800
Profit and Loss Account (213,717 ) (249,414 )
SHAREHOLDERS' FUNDS 94,085 58,388
Page 1
Page 2
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 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
12/02/2025
The notes on pages 3 to 4 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. Accounting Policies
1.1. 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.
1.2. 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 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.
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.
1.3. 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:
Freehold NIL
Plant & Machinery 10%
2. Average Number of Employees
Average number of employees, including directors, during the year was: 1 (2023: 2)
1 2
3. Tangible Assets
Land & Property
Freehold Plant & Machinery Total
£ £ £
Cost
As at 1 August 2023 1,381,150 251,275 1,632,425
Additions - 48,252 48,252
As at 31 July 2024 1,381,150 299,527 1,680,677
Depreciation
As at 1 August 2023 185,158 141,275 326,433
Provided during the period - 10,755 10,755
As at 31 July 2024 185,158 152,030 337,188
Net Book Value
As at 31 July 2024 1,195,992 147,497 1,343,489
As at 1 August 2023 1,195,992 110,000 1,305,992
Page 3
Page 4
4. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Directors' loan accounts 673,658 674,687
5. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Bank loans 580,000 580,000
6. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 2 2
Page 4