Acorah Software Products - Accounts Production 16.3.350 false true 31 August 2023 1 September 2022 false 1 September 2023 31 August 2024 31 August 2024 12155403 Mr Azam Mamujee Mr Ade-Wale Adepoju Mr Hamid Samnani iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 12155403 2023-08-31 12155403 2024-08-31 12155403 2023-09-01 2024-08-31 12155403 frs-core:CurrentFinancialInstruments 2024-08-31 12155403 frs-core:ComputerEquipment 2024-08-31 12155403 frs-core:ComputerEquipment 2023-09-01 2024-08-31 12155403 frs-core:ComputerEquipment 2023-08-31 12155403 frs-core:ShareCapital 2024-08-31 12155403 frs-core:RetainedEarningsAccumulatedLosses 2024-08-31 12155403 frs-bus:PrivateLimitedCompanyLtd 2023-09-01 2024-08-31 12155403 frs-bus:FilletedAccounts 2023-09-01 2024-08-31 12155403 frs-bus:SmallEntities 2023-09-01 2024-08-31 12155403 frs-bus:AuditExemptWithAccountantsReport 2023-09-01 2024-08-31 12155403 frs-bus:SmallCompaniesRegimeForAccounts 2023-09-01 2024-08-31 12155403 frs-core:UnlistedNon-exchangeTraded 2024-08-31 12155403 frs-core:UnlistedNon-exchangeTraded 2023-08-31 12155403 frs-core:CostValuation frs-core:UnlistedNon-exchangeTraded 2023-08-31 12155403 frs-core:DisposalsRepaymentsInvestments frs-core:UnlistedNon-exchangeTraded 2024-08-31 12155403 frs-core:CostValuation frs-core:UnlistedNon-exchangeTraded 2024-08-31 12155403 frs-core:ProvisionsForImpairmentInvestments frs-core:UnlistedNon-exchangeTraded 2023-08-31 12155403 frs-core:ProvisionsForImpairmentInvestments frs-core:UnlistedNon-exchangeTraded 2024-08-31 12155403 frs-bus:Director1 2023-09-01 2024-08-31 12155403 frs-bus:Director2 2023-09-01 2024-08-31 12155403 frs-bus:Director3 2023-09-01 2024-08-31 12155403 frs-bus:Director3 2023-08-31 12155403 frs-bus:Director3 2024-08-31 12155403 frs-countries:EnglandWales 2023-09-01 2024-08-31 12155403 2022-08-31 12155403 2023-08-31 12155403 2022-09-01 2023-08-31 12155403 frs-core:CurrentFinancialInstruments 2023-08-31 12155403 frs-core:ShareCapital 2023-08-31 12155403 frs-core:RetainedEarningsAccumulatedLosses 2023-08-31
Registered number: 12155403
Chakrabond Limited
Unaudited Financial Statements
For The Year Ended 31 August 2024
M Cubed Limited
Contents
Page
Accountant's Report 1
Balance Sheet 2—3
Notes to the Financial Statements 4—6
Page 1
Accountant's Report
Chartered Accountant's report to the directors on the preparation of the unaudited statutory accounts of Chakrabond Limited for the year ended 31 August 2024
In order to assist you to fulfil your duties under the Companies Act 2006, I have prepared for your approval the accounts of Chakrabond Limited for the year ended 31 August 2024 which comprise the Profit and Loss Account, the Balance Sheet and the related notes from the company's accounting records and from information and explanations you have given to us.
As a practising member of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at http://www.icaew.com/en/membership/regulations-standards-and-guidance.
This report is made solely to the directors of Chakrabond Limited , as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the accounts of Chakrabond Limited and state those matters that we have agreed to state to the directors of Chakrabond Limited , as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Chakrabond Limited and its directors, as a body, for our work or for this report.
It is your duty to ensure that Chakrabond Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit or loss of Chakrabond Limited . You consider that Chakrabond Limited is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit of the accounts of Chakrabond Limited . For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the financial statements.
Signed
M Cubed
28/05/2025
M Cubed Limited
Unit 8 The Courtyard
Gaulby Lane
Stoughton
Leicester
LE2 2FL
Page 1
Page 2
Balance Sheet
Registered number: 12155403
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 - 362
Investments 5 33,102 193,904
33,102 194,266
CURRENT ASSETS
Debtors 6 415,666 407,383
Cash at bank and in hand 1,022,673 4,769
1,438,339 412,152
Creditors: Amounts Falling Due Within One Year 7 (651,417 ) (740,023 )
NET CURRENT ASSETS (LIABILITIES) 786,922 (327,871 )
TOTAL ASSETS LESS CURRENT LIABILITIES 820,024 (133,605 )
NET ASSETS/(LIABILITIES) 820,024 (133,605 )
CAPITAL AND RESERVES
Called up share capital 8 200 200
Profit and Loss Account 819,824 (133,805 )
SHAREHOLDERS' FUNDS 820,024 (133,605)
Page 2
Page 3
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 Hamid Samnani
Director
28/05/2025
The notes on pages 4 to 6 form part of these financial statements.
Page 3
Page 4
Notes to the Financial Statements
1. General Information
Chakrabond Limited is a private company, limited by shares, incorporated in England & Wales, registered number 12155403 . The registered office is Unit 8 The Courtyard, Gaulby Lane, Stoughton, Leicestershire, LE22FL.
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:
Computer Equipment 20% on Cost
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.
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.
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Page 5
3. Average Number of Employees
Average number of employees, including directors, during the year was: 3 (2023: 3)
3 3
4. Tangible Assets
Computer Equipment
£
Cost
As at 1 September 2023 1,810
Disposals (1,810 )
As at 31 August 2024 -
Depreciation
As at 1 September 2023 1,448
Provided during the period 362
Disposals (1,810 )
As at 31 August 2024 -
Net Book Value
As at 31 August 2024 -
As at 1 September 2023 362
5. Investments
Unlisted
£
Cost
As at 1 September 2023 193,904
Disposals (160,802 )
As at 31 August 2024 33,102
Provision
As at 1 September 2023 -
As at 31 August 2024 -
Net Book Value
As at 31 August 2024 33,102
As at 1 September 2023 193,904
6. Debtors
2024 2023
£ £
Due within one year
Trade debtors 1,456 4,321
Other debtors 89,211 78,063
90,667 82,384
Due after more than one year
Other debtors 324,999 324,999
415,666 407,383
Page 5
Page 6
7. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 150,100 -
Other creditors 212,722 740,023
Taxation and social security 288,595 -
651,417 740,023
8. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 200 200
9. Directors Advances, Credits and Guarantees
Included within Debtors are the following loans to directors:
As at 1 September 2023 Amounts advanced Amounts repaid Amounts written off As at 31 August 2024
£ £ £ £ £
Mr Ade-Wale Adepoju (298,735 ) 328,681 18,798 - 11,148
The above loan is repaid back within 9 months from the year-end
Page 6