Acorah Software Products - Accounts Production 16.1.300 false true true 31 October 2023 1 November 2022 false 1 November 2023 31 October 2024 31 October 2024 12928581 Mr Ciprian Cruciuc iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 12928581 2023-10-31 12928581 2024-10-31 12928581 2023-11-01 2024-10-31 12928581 frs-core:DevelopmentCostsCapitalisedDevelopmentExpenditure 2023-11-01 2024-10-31 12928581 frs-core:FurnitureFittings 2023-11-01 2024-10-31 12928581 frs-core:MotorVehicles 2023-11-01 2024-10-31 12928581 frs-core:PlantMachinery 2023-11-01 2024-10-31 12928581 frs-core:ShareCapital 2024-10-31 12928581 frs-core:RetainedEarningsAccumulatedLosses 2024-10-31 12928581 frs-bus:PrivateLimitedCompanyLtd 2023-11-01 2024-10-31 12928581 frs-bus:AbridgedAccounts 2023-11-01 2024-10-31 12928581 frs-bus:SmallEntities 2023-11-01 2024-10-31 12928581 frs-bus:AuditExempt-NoAccountantsReport 2023-11-01 2024-10-31 12928581 frs-bus:SmallCompaniesRegimeForAccounts 2023-11-01 2024-10-31 12928581 frs-core:CostValuation 2023-10-31 12928581 frs-core:CostValuation 2024-10-31 12928581 frs-bus:Director1 2023-11-01 2024-10-31 12928581 frs-bus:Director1 2023-10-31 12928581 frs-bus:Director1 2024-10-31 12928581 1 2023-11-01 2024-10-31 12928581 frs-countries:EnglandWales 2023-11-01 2024-10-31 12928581 2022-10-31 12928581 2023-10-31 12928581 2022-11-01 2023-10-31 12928581 frs-core:ShareCapital 2023-10-31 12928581 frs-core:RetainedEarningsAccumulatedLosses 2023-10-31 12928581 1 2022-11-01 2023-10-31
Registered number: 12928581
BARAO LIMITED
Unaudited ABRIDGED Financial Statements
For The Year Ended 31 October 2024
Contents
Page
Abridged Balance Sheet 1—2
Notes to the Abridged Financial Statements 3—6
Page 1
Abridged Balance Sheet
Registered number: 12928581
2024 2023
Notes £ £ £ £
FIXED ASSETS
Intangible Assets 4 35,046 25,270
Tangible Assets 5 142,598 120,669
Investments 6 5,050 5,050
182,694 150,989
CURRENT ASSETS
Debtors 1,094,373 841,815
Cash at bank and in hand 135,936 50,673
1,230,309 892,488
Creditors: Amounts Falling Due Within One Year (323,541 ) (231,987 )
NET CURRENT ASSETS (LIABILITIES) 906,768 660,501
TOTAL ASSETS LESS CURRENT LIABILITIES 1,089,462 811,490
PROVISIONS FOR LIABILITIES
Deferred Taxation 7 (7,068 ) (9,582 )
NET ASSETS 1,082,394 801,908
CAPITAL AND RESERVES
Called up share capital 8 100 100
Profit and Loss Account 1,082,294 801,808
SHAREHOLDERS' FUNDS 1,082,394 801,908
Page 1
Page 2
For the year ending 31 October 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 Profit and Loss Account.
All of the company's members have consented to the preparation of an Abridged Balance Sheet for the year end 31 October 2024 in accordance with section 444(2A) of the Companies Act 2006.
On behalf of the board
Mr Ciprian Cruciuc
Director
27/11/2024
The notes on pages 3 to 6 form part of these financial statements.
Page 2
Page 3
Notes to the Abridged Financial Statements
1. General Information
  BARAO LIMITED is a private company, limited by shares, incorporated in England & Wales, registered number
  12928581. The registered office is 107 Stanmore Business Center, Stanmore, London, United Kingdom, HA7 1BT.
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.
The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nesrest £. the principal accounting policies adopted are set out below.
2.2. Going Concern Disclosure
At the time of approving the financial statements, the director has a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus the director continues to adopt the going concern basis of accounting in preparing the financial statements.
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 rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
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.
2.4. Intangible Fixed Assets and Amortisation - Other Intangible
Crypto Currencies acquired seperately from a business are recognised at fair value. During the year no amortisation has been charged in the accounts.
2.5. 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:
Plant & Machinery 20% p.a. on a reducing Balance
Motor Vehicles 20% p.a. on a Straight Line Basis
Fixtures & Fittings 20% p.a. on a Straight Line Basis
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset and is credited or charged to profit or loss. 
2.6. Leasing and Hire Purchase Contracts
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profits on  a straight - line basis over the period of the lease.
Rental income from operating leases is recognised on a straight line basis over the term of the relevant lease. Initial direct costs incurred in negotiating and arranging an operating lease are added to the carrying amount of the leased asset and recognised on a straight line basis over the lease term.
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2.7. Taxation
Income tax expense represents the sum of the tax currently payable and deferred 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.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current and deferred tax are recognised in profit or loss for the year, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case current and deferred tax are recognised in other comprehensive income or directly in equity respectively.
3. Average Number of Employees
Average number of employees, including directors, during the year was:
2024 2023
Directors 1 1
1 1
4. Intangible Assets
Total
£
Cost
As at 1 November 2023 33,657
As at 31 October 2024 33,657
Amortisation
As at 1 November 2023 8,387
Reversal of past impairments (9,776 )
As at 31 October 2024 (1,389 )
Net Book Value
As at 31 October 2024 35,046
As at 1 November 2023 25,270
The fair value of cryptocurrencies (intangible assets) is determined based on active market prices from reputable exchanges. Significant assumptions include the selection of exchanges and the assessment of market activity.
Page 4
Page 5
5. Tangible Assets
Total
£
Cost
As at 1 November 2023 154,667
Additions 60,350
Disposals (18,000 )
As at 31 October 2024 197,017
Depreciation
As at 1 November 2023 33,998
Provided during the period 28,221
Disposals (7,800 )
As at 31 October 2024 54,419
Net Book Value
As at 31 October 2024 142,598
As at 1 November 2023 120,669
6. Investments
Total
£
Cost
As at 1 November 2023 5,050
As at 31 October 2024 5,050
Provision
As at 1 November 2023 -
As at 31 October 2024 -
Net Book Value
As at 31 October 2024 5,050
As at 1 November 2023 5,050
Fixed assets Investments are stated at cost.
7. Deferred Taxation
The provision for deferred taxation is made up of accelerated capital allowances.
2024 2023
£ £
Other timing differences 7,068 9,582
8. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 100 100
9. Contingent Liabilities
Operating lease commitments not included in the balance sheet amount to £64,966(2023 - £75,887).
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10. Directors Advances, Credits and Guarantees
Included within Debtors are the following loans to directors:
As at 1 November 2023 Amounts advanced Amounts repaid Amounts written off As at 31 October 2024
£ £ £ £ £
Mr Ciprian Cruciuc 68,854 57,394 65,749 - 60,438
The above loan is unsecured and interest charged at official rate of interest.
Page 6