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 05677096 Mr Brian Impleton iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 05677096 2023-07-31 05677096 2024-07-31 05677096 2023-08-01 2024-07-31 05677096 frs-core:ComputerEquipment 2024-07-31 05677096 frs-core:ComputerEquipment 2023-08-01 2024-07-31 05677096 frs-core:ComputerEquipment 2023-07-31 05677096 frs-core:FurnitureFittings 2024-07-31 05677096 frs-core:FurnitureFittings 2023-08-01 2024-07-31 05677096 frs-core:FurnitureFittings 2023-07-31 05677096 frs-core:ShareCapital 2024-07-31 05677096 frs-core:RetainedEarningsAccumulatedLosses 2024-07-31 05677096 frs-bus:PrivateLimitedCompanyLtd 2023-08-01 2024-07-31 05677096 frs-bus:FilletedAccounts 2023-08-01 2024-07-31 05677096 frs-bus:SmallEntities 2023-08-01 2024-07-31 05677096 frs-bus:AuditExempt-NoAccountantsReport 2023-08-01 2024-07-31 05677096 frs-bus:SmallCompaniesRegimeForAccounts 2023-08-01 2024-07-31 05677096 frs-bus:Director1 2023-08-01 2024-07-31 05677096 frs-countries:EnglandWales 2023-08-01 2024-07-31 05677096 2022-07-31 05677096 2023-07-31 05677096 2022-08-01 2023-07-31 05677096 frs-core:CurrentFinancialInstruments 2023-07-31 05677096 frs-core:ShareCapital 2023-07-31 05677096 frs-core:RetainedEarningsAccumulatedLosses 2023-07-31
Registered number: 05677096
Soarin Limited
Unaudited Financial Statements
For The Year Ended 31 July 2024
Steve Pye & Co.
Chartered Certified Accountants
Unit 10 Aylsham Business Park
Richard Oakes Road
Aylsham
Norfolk
NR11 6FD
Contents
Page
Statement of Financial Position 1—2
Notes to the Financial Statements 3—4
Page 1
Statement of Financial Position
Registered number: 05677096
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 224 299
224 299
CURRENT ASSETS
Debtors 5 467,001 467,001
Cash at bank and in hand 46,051 49,098
513,052 516,099
Creditors: Amounts Falling Due Within One Year 6 (38,823 ) (39,845 )
NET CURRENT ASSETS (LIABILITIES) 474,229 476,254
TOTAL ASSETS LESS CURRENT LIABILITIES 474,453 476,553
PROVISIONS FOR LIABILITIES
Deferred Taxation (76 ) (76 )
NET ASSETS 474,377 476,477
CAPITAL AND RESERVES
Called up share capital 7 1 1
Income Statement 474,376 476,476
SHAREHOLDERS' FUNDS 474,377 476,477
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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 member has 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.
On behalf of the board
Mr Brian Impleton
Director
20 January 2025
The notes on pages 3 to 4 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Soarin Limited is a private company, limited by shares, incorporated in England & Wales, registered number 05677096 . The registered office is Valley Lodge Taverham Lane, Costessey, Norwich, NR8 5BE.  The presentation currency of the financial statements is the Pound Sterling (£).
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. 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:
Fixtures & Fittings 25% reducing balance
Computer Equipment 25% reducing balance
2.3. Financial Instruments
The company enters into basic financial instruments that result in the recognition of financial assets and liabilities like trade and other accounts receivable and payable, loans from banks and other third parties and loans to related parties.
a) Trade and other debtors
Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method, less impairment losses for bad and doubtful debts except where the effect of discounting would be immaterial. In such cases, the receivables are stated at cost less impairment losses for bad and doubtful debts.
b) Cash and cash equivalents
Cash and cash equivalents comprise cash at bank and in hand.
c) 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 in profit or loss.
For financial assets measured at amortised cost, the impairment loss is measured as the difference between an asset's carrying amount and the present value of estimated cash flows discounted at the asset's original effective interest rate. If a financial asset has a variable interest rate, the discount rate for measuring any impairment loss is the current effective interest rate determined under the contract.
For financial assets measured at cost less impairment, the impairment loss is measured as the difference between an asset's carrying amount and the best estimate, which is an approximation, of the amount that the company would receive for the asset if it were to be sold at the reporting date.
d) Trade and other creditors
Debt instruments like loans and other accounts payable are initially measured at present value of the future payments and subsequently at amortised cost using the effective interest method. Debt instruments that are payable within one year, typically trade payables, are measured, initially and subsequently, at the undiscounted amount of the cash or other consideration expected to be paid. However, if the arrangements of a short-term instrument constitute a financing transaction, like the payment of a trade debt deferred beyond normal business terms or financed at a rate of interest that is not a market rate or in case of an outright short-term loan not at market rate, the financial asset is measured, initially and subsequently, at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.
Financial assets and liabilities are offset and the net amount reported in the statement of financial position when there is an enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 1 (2023: 1)
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4. Tangible Assets
Fixtures & Fittings Computer Equipment Total
£ £ £
Cost
As at 1 August 2023 4,957 1,053 6,010
As at 31 July 2024 4,957 1,053 6,010
Depreciation
As at 1 August 2023 4,821 890 5,711
Provided during the period 34 41 75
As at 31 July 2024 4,855 931 5,786
Net Book Value
As at 31 July 2024 102 122 224
As at 1 August 2023 136 163 299
5. Debtors
2024 2023
£ £
Due within one year
Amounts owed by participating interests 429,501 429,501
Other debtors 37,500 37,500
467,001 467,001
6. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Other creditors 38,823 39,605
Taxation and social security - 240
38,823 39,845
7. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 1 1
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