Acorah Software Products - Accounts Production 16.2.800 false true true 31 October 2023 1 December 2022 false 1 November 2023 31 October 2024 31 October 2024 12338333 Mr Constantine Coccolatos Mr Yousef Al-Amad iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 12338333 2023-10-31 12338333 2024-10-31 12338333 2023-11-01 2024-10-31 12338333 frs-core:CurrentFinancialInstruments 2024-10-31 12338333 frs-core:Non-currentFinancialInstruments 2024-10-31 12338333 frs-core:DevelopmentCostsCapitalisedDevelopmentExpenditure 2023-11-01 2024-10-31 12338333 frs-core:OtherResidualIntangibleAssets 2024-10-31 12338333 frs-core:OtherResidualIntangibleAssets 2023-11-01 2024-10-31 12338333 frs-core:OtherResidualIntangibleAssets 2023-10-31 12338333 frs-core:PlantMachinery 2024-10-31 12338333 frs-core:PlantMachinery 2023-11-01 2024-10-31 12338333 frs-core:PlantMachinery 2023-10-31 12338333 frs-core:ShareCapital 2024-10-31 12338333 frs-core:RetainedEarningsAccumulatedLosses 2023-11-01 2024-10-31 12338333 frs-core:RetainedEarningsAccumulatedLosses 2024-10-31 12338333 frs-bus:PrivateLimitedCompanyLtd 2023-11-01 2024-10-31 12338333 frs-bus:FilletedAccounts 2023-11-01 2024-10-31 12338333 frs-bus:SmallEntities 2023-11-01 2024-10-31 12338333 frs-bus:AuditExempt-NoAccountantsReport 2023-11-01 2024-10-31 12338333 frs-bus:SmallCompaniesRegimeForAccounts 2023-11-01 2024-10-31 12338333 frs-bus:Director1 2023-11-01 2024-10-31 12338333 frs-bus:Director2 2023-11-01 2024-10-31 12338333 frs-countries:EnglandWales 2023-11-01 2024-10-31 12338333 2022-11-30 12338333 2023-10-31 12338333 2022-12-01 2023-10-31 12338333 frs-core:CurrentFinancialInstruments 2023-10-31 12338333 frs-core:Non-currentFinancialInstruments 2023-10-31 12338333 frs-core:ShareCapital 2022-11-30 12338333 frs-core:ShareCapital 2023-10-31 12338333 frs-core:RetainedEarningsAccumulatedLosses 2022-12-01 2023-10-31 12338333 frs-core:RetainedEarningsAccumulatedLosses frs-core:PreviouslyStatedAmount 2022-11-30 12338333 frs-core:RetainedEarningsAccumulatedLosses 2023-10-31
Registered number: 12338333
Parhela Ltd
Unaudited Financial Statements
For The Year Ended 31 October 2024
Mouktaris & Co Ltd
Chartered Accountants & Registered Auditors
156a Burnt Oak Broadway
Edgware
Middlesex
HA8 0AX
Contents
Page
Statement of Financial Position 1—2
Statement of Changes in Equity 3
Notes to the Financial Statements 4—6
Page 1
Statement of Financial Position
Registered number: 12338333
31 October 2024 31 October 2023
Notes £ £ £ £
FIXED ASSETS
Intangible Assets 4 6,671 7,928
Tangible Assets 5 76 102
6,747 8,030
CURRENT ASSETS
Stocks 6 98,000 70,000
Debtors 7 11,780 8,046
Cash at bank and in hand 8,564 6,544
118,344 84,590
Creditors: Amounts Falling Due Within One Year 8 (13,763 ) (17,058 )
NET CURRENT ASSETS (LIABILITIES) 104,581 67,532
TOTAL ASSETS LESS CURRENT LIABILITIES 111,328 75,562
Creditors: Amounts Falling Due After More Than One Year 9 (450,000 ) (340,000 )
NET LIABILITIES (338,672 ) (264,438 )
CAPITAL AND RESERVES
Called up share capital 10 5,000 5,000
Income Statement (343,672 ) (269,438 )
SHAREHOLDERS' FUNDS (338,672) (264,438)
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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 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 Income Statement.
On behalf of the board
Mr Constantine Coccolatos
Director
Mr Yousef Al-Amad
Director
1 April 2025
The notes on pages 4 to 6 form part of these financial statements.
Page 2
Page 3
Statement of Changes in Equity
Share Capital Income Statement Total
£ £ £
As at 1 December 2022 5,000 (192,409 ) (187,409)
Loss for the period and total comprehensive income - (77,029 ) (77,029)
As at 31 October 2023 and 1 November 2023 5,000 (269,438 ) (264,438)
Loss for the year and total comprehensive income - (74,234 ) (74,234)
As at 31 October 2024 5,000 (343,672 ) (338,672)
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Page 4
Notes to the Financial Statements
1. General Information
Parhela Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 12338333 . The registered office is Unit 22 Westbourne Studios, 242 Acklam Road, London, W10 5JJ.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements are prepared under the historical cost convention and in accordance with the FRS 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 entity.
2.2. Going Concern Disclosure
The financial statements have been prepared on a going concern basis on the grounds that the company's shareholders will continue to support the company over the following twelve months at least.
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; the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably. 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.
2.4. Intangible Fixed Assets and Amortisation - Other Intangible
Intangible assets comprise a Trademark. It is amortised to the income statement over its estimated economic life of 10 years.
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 25% reducing balance
2.6. 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.
2.7. Basic financial assets
Basic financial assets, which include trade and other debtors and cash and bank balances, are initially measured at transaction price including transaction costs and where material are subsequently measured at amortised cost using the effective interest method, less any impairment.
2.8. Basic financial liabilities
Basic financial liabilities, including trade and other payables and loans from company undertakings that are classified as debt are initially measured at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at the market rate of interest.
2.9. Cash and cash equivalents
Cash and cash equivalents include cash in hand, deposits held at call with banks, other short term liquid investmens with original maturities of three months or less.
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3. Average Number of Employees
Average number of employees, including directors, during the year was: NIL (2023: NIL)
- -
4. Intangible Assets
Trademark
£
Cost
As at 1 November 2023 12,567
As at 31 October 2024 12,567
Amortisation
As at 1 November 2023 4,639
Provided during the period 1,257
As at 31 October 2024 5,896
Net Book Value
As at 31 October 2024 6,671
As at 1 November 2023 7,928
5. Tangible Assets
Plant & Machinery
£
Cost
As at 1 November 2023 182
As at 31 October 2024 182
Depreciation
As at 1 November 2023 80
Provided during the period 26
As at 31 October 2024 106
Net Book Value
As at 31 October 2024 76
As at 1 November 2023 102
6. Stocks
31 October 2024 31 October 2023
£ £
Stock 98,000 70,000
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Page 6
7. Debtors
31 October 2024 31 October 2023
£ £
Due within one year
Trade debtors 2,899 -
Prepayments and accrued income 673 -
Other debtors 5,293 5,293
VAT 2,915 2,753
11,780 8,046
8. Creditors: Amounts Falling Due Within One Year
31 October 2024 31 October 2023
£ £
Trade creditors 10,870 14,680
Bank loans and overdrafts - 578
Other creditors 993 -
Accruals and deferred income 1,900 1,800
13,763 17,058
9. Creditors: Amounts Falling Due After More Than One Year
31 October 2024 31 October 2023
£ £
Amounts owed to other participating interests 450,000 340,000
10. Share Capital
31 October 2024 31 October 2023
£ £
Allotted, Called up and fully paid 5,000 5,000
11. Related Party Transactions
Included in Amounts owed to other participating interests are two loans from the company's shareholders totalling £450,000 (2023: £340,000). The loans are provided interest-free, are unsecured and have no fixed terms of repayment.
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