Acorah Software Products - Accounts Production 16.3.350 false true true 31 December 2023 1 January 2023 false 1 January 2024 31 December 2024 31 December 2024 11115563 Mr O Chulkov Mr R Singh iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 11115563 2023-12-31 11115563 2024-12-31 11115563 2024-01-01 2024-12-31 11115563 frs-core:CurrentFinancialInstruments 2024-12-31 11115563 frs-core:ShareCapital 2024-12-31 11115563 frs-core:RetainedEarningsAccumulatedLosses 2024-12-31 11115563 frs-bus:PrivateLimitedCompanyLtd 2024-01-01 2024-12-31 11115563 frs-bus:FilletedAccounts 2024-01-01 2024-12-31 11115563 frs-bus:SmallEntities 2024-01-01 2024-12-31 11115563 frs-bus:AuditExempt-NoAccountantsReport 2024-01-01 2024-12-31 11115563 frs-bus:SmallCompaniesRegimeForAccounts 2024-01-01 2024-12-31 11115563 frs-bus:Director1 2024-01-01 2024-12-31 11115563 frs-bus:Director2 2024-01-01 2024-12-31 11115563 frs-countries:EnglandWales 2024-01-01 2024-12-31 11115563 2022-12-31 11115563 2023-12-31 11115563 2023-01-01 2023-12-31 11115563 frs-core:CurrentFinancialInstruments 2023-12-31 11115563 frs-core:ShareCapital 2023-12-31 11115563 frs-core:RetainedEarningsAccumulatedLosses 2023-12-31
Registered number: 11115563
Regan Lofts Ltd
Unaudited Financial Statements
For The Year Ended 31 December 2024
Goldwyns London LLP
Contents
Page
Statement of Financial Position 1
Notes to the Financial Statements 2—3
Page 1
Statement of Financial Position
Registered number: 11115563
2024 2023
Notes £ £ £ £
CURRENT ASSETS
Stocks 4 4,516,134 4,311,593
Debtors 5 46,673 -
Cash at bank and in hand 16,087 47
4,578,894 4,311,640
Creditors: Amounts Falling Due Within One Year 6 (4,578,271 ) (4,329,162 )
NET CURRENT ASSETS (LIABILITIES) 623 (17,522 )
TOTAL ASSETS LESS CURRENT LIABILITIES 623 (17,522 )
NET ASSETS/(LIABILITIES) 623 (17,522 )
CAPITAL AND RESERVES
Called up share capital 7 100 100
Income Statement 523 (17,622 )
SHAREHOLDERS' FUNDS 623 (17,522)
For the year ending 31 December 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 O Chulkov
Director
11/02/2025
The notes on pages 2 to 3 form part of these financial statements.
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Page 2
Notes to the Financial Statements
1. General Information
Regan Lofts Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 11115563 . The registered office is C/O Goldwyns London Llp, No.1 Royal Exchange, London, EC3V 3DG.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.
The financial statements are prepared in UK sterling, which is the functional currency of the entity. Monetary amounts in these financial statements are rounded to the nearest UK pound.
The principle accounting policies adopted are set below.
2.2. Going Concern Disclosure
The directors have considered the prospect of the business for the next twelve months and beyond and has arrived at a reasonable expectation the company will  continue to meet its obligations as they fall due. The directors have also pledged their financial support to assist with this if required. On this basis, the directors will continue 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 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.
2.4. 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.
2.5. Financial Instruments
The company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other debtors, creditors, loans from banks and other third parties, loans to related parties and investments in non-puttable ordinary shares.
2.6. Taxation
Taxation for the period comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it related to items recognised in other comprehensive income or directly in equity.
Current or deferred taxation assets and liabilities are not discounted.
Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the statement of financial position date.
2.7. Cash and cash equivalents
Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.
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2.8. CRITICAL ACCOUNTING JUDGEMENTS AND KEY SOURCES OF ESTIMATION UNCERTAINTY
In the application of the company's accounting policies management is required to make judgements, estimates and assumptions about the carrying value of assets and liabilities that are not readily ascertainable from other sources. The estimates and underlying assumptions are based on historical experience and other factors that are considered to be relevant. Actual outcomes may differ from these estimates.
The estimates and underlying assumptions are reviewed on a continuing basis. Revisions to accounting estimates are recognised in the period in which the estimates are revised.
The key areas of estimation uncertainty that have a significant effect on the amounts recognised in the financial statements are described below:
Accrued Expenditure
The company includes a provision for invoices which are yet to be received from and amounts paid in advance to suppliers. These provisions are estimated based upon the expected values of the invoices which are issued and services received following the period end.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 2 (2023: 2)
2 2
4. Stocks
2024 2023
£ £
Work in progress 4,516,134 4,311,593
5. Debtors
2024 2023
£ £
Due within one year
Trade debtors 20,094 -
Other debtors 26,579 -
46,673 -
6. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 6,396 -
Other loans 4,565,633 4,326,154
Corporation tax 1,234 -
Accruals and deferred income 5,008 3,008
4,578,271 4,329,162
7. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 100 100
The nominal value per share is £1 and there are 100 Ordinary shares in issue.
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