Acorah Software Products - Accounts Production 16.2.850 false true 31 August 2023 1 September 2022 false 1 September 2023 31 August 2024 31 August 2024 09189374 Mr Lee Kurek Ms Lin Tai Chan iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 09189374 2023-08-31 09189374 2024-08-31 09189374 2023-09-01 2024-08-31 09189374 frs-core:CurrentFinancialInstruments 2024-08-31 09189374 frs-core:ComputerEquipment 2024-08-31 09189374 frs-core:ComputerEquipment 2023-09-01 2024-08-31 09189374 frs-core:ComputerEquipment 2023-08-31 09189374 frs-core:FurnitureFittings 2024-08-31 09189374 frs-core:FurnitureFittings 2023-09-01 2024-08-31 09189374 frs-core:FurnitureFittings 2023-08-31 09189374 frs-core:ShareCapital 2024-08-31 09189374 frs-core:RetainedEarningsAccumulatedLosses 2024-08-31 09189374 frs-bus:PrivateLimitedCompanyLtd 2023-09-01 2024-08-31 09189374 frs-bus:FilletedAccounts 2023-09-01 2024-08-31 09189374 frs-bus:SmallEntities 2023-09-01 2024-08-31 09189374 frs-bus:AuditExempt-NoAccountantsReport 2023-09-01 2024-08-31 09189374 frs-bus:SmallCompaniesRegimeForAccounts 2023-09-01 2024-08-31 09189374 frs-bus:Director1 2023-09-01 2024-08-31 09189374 frs-bus:Director2 2023-09-01 2024-08-31 09189374 frs-core:CurrentFinancialInstruments 4 2024-08-31 09189374 frs-countries:EnglandWales 2023-09-01 2024-08-31 09189374 2022-08-31 09189374 2023-08-31 09189374 2022-09-01 2023-08-31 09189374 frs-core:CurrentFinancialInstruments 2023-08-31 09189374 frs-core:ShareCapital 2023-08-31 09189374 frs-core:RetainedEarningsAccumulatedLosses 2023-08-31 09189374 frs-core:CurrentFinancialInstruments 3 2023-08-31 09189374 frs-core:CurrentFinancialInstruments 4 2023-08-31
Registered number: 09189374
API Compliance Limited
Financial Statements
For The Year Ended 31 August 2024
Sloane & Co. LLP
Chartered Certified Accountants & Business Advisors
Office 015
30 Great Guildford Street
Borough, London
SE1 0HS
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 09189374
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 9,037 6,368
9,037 6,368
CURRENT ASSETS
Debtors 5 120,253 74,117
Cash at bank and in hand 273,245 145,730
393,498 219,847
Creditors: Amounts Falling Due Within One Year 6 (139,213 ) (109,025 )
NET CURRENT ASSETS (LIABILITIES) 254,285 110,822
TOTAL ASSETS LESS CURRENT LIABILITIES 263,322 117,190
NET ASSETS 263,322 117,190
CAPITAL AND RESERVES
Called up share capital 7 100 100
Profit and Loss Account 263,222 117,090
SHAREHOLDERS' FUNDS 263,322 117,190
Page 1
Page 2
For the year ending 31 August 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
Mr Lee Kurek
Director
22 May 2025
The notes on pages 3 to 5 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
API Compliance Limited is a private company, limited by shares, incorporated in England & Wales, registered number 09189374 . The registered office is Office 015, 30 Great Guildford Street, Borough, London, SE1 0HS.
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. 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.
2.3. 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:
Fixtures & Fittings 25% Reducing balance method
Computer Equipment 25% Reducing balance method
2.4. Foreign Currencies
Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate ruling on the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
Page 3
Page 4
2.5. 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: 9 (2023: 9)
9 9
4. Tangible Assets
Fixtures & Fittings Computer Equipment Total
£ £ £
Cost
As at 1 September 2023 355 14,289 14,644
Additions 853 4,828 5,681
As at 31 August 2024 1,208 19,117 20,325
Depreciation
As at 1 September 2023 155 8,121 8,276
Provided during the period 263 2,749 3,012
As at 31 August 2024 418 10,870 11,288
Net Book Value
As at 31 August 2024 790 8,247 9,037
As at 1 September 2023 200 6,168 6,368
Page 4
Page 5
5. Debtors
2024 2023
£ £
Due within one year
Trade debtors 107,432 60,813
Prepayments and accrued income 7,770 -
Other debtors (4) 1,192 4,252
VAT - 9,052
Directors' loan accounts 3,846 -
Amounts owed by group undertakings 13 -
120,253 74,117
6. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 2,545 42,459
Bank loans and overdrafts 236 10
Corporation tax 64,874 26,924
VAT 29,988 -
Other creditors 1,000 600
Credit card - 32
Accruals and deferred income 40,570 39,000
139,213 109,025
7. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 100 100
Page 5