Acorah Software Products - Accounts Production 16.3.350 false true true 31 May 2023 1 June 2022 false 1 June 2023 31 May 2024 31 May 2024 03054863 Mr Parminder Singh Mrs Davinderpal Singh iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 03054863 2023-05-31 03054863 2024-05-31 03054863 2023-06-01 2024-05-31 03054863 frs-core:CurrentFinancialInstruments 2024-05-31 03054863 frs-core:Non-currentFinancialInstruments 2024-05-31 03054863 frs-core:ComputerEquipment 2024-05-31 03054863 frs-core:ComputerEquipment 2023-06-01 2024-05-31 03054863 frs-core:ComputerEquipment 2023-05-31 03054863 frs-core:ShareCapital 2024-05-31 03054863 frs-core:RetainedEarningsAccumulatedLosses 2024-05-31 03054863 frs-bus:PrivateLimitedCompanyLtd 2023-06-01 2024-05-31 03054863 frs-bus:FilletedAccounts 2023-06-01 2024-05-31 03054863 frs-bus:SmallEntities 2023-06-01 2024-05-31 03054863 frs-bus:AuditExempt-NoAccountantsReport 2023-06-01 2024-05-31 03054863 frs-bus:SmallCompaniesRegimeForAccounts 2023-06-01 2024-05-31 03054863 frs-bus:Director1 2023-06-01 2024-05-31 03054863 frs-bus:CompanySecretary1 2023-06-01 2024-05-31 03054863 frs-countries:EnglandWales 2023-06-01 2024-05-31 03054863 2022-05-31 03054863 2023-05-31 03054863 2022-06-01 2023-05-31 03054863 frs-core:CurrentFinancialInstruments 2023-05-31 03054863 frs-core:Non-currentFinancialInstruments 2023-05-31 03054863 frs-core:ShareCapital 2023-05-31 03054863 frs-core:RetainedEarningsAccumulatedLosses 2023-05-31
Registered number: 03054863
Silver Penny Pvt Limited
Financial Statements
For The Year Ended 31 May 2024
SAWHNEY CONSULTING
C/O Sawhney Consulting Limited
429 - 433 Pinner Road
Harrow
HA1 4HN
Contents
Page
Balance Sheet 1
Notes to the Financial Statements 2—3
Page 1
Balance Sheet
Registered number: 03054863
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 2,087 1,091
2,087 1,091
CURRENT ASSETS
Debtors 5 123,757 337,726
Cash at bank and in hand 3,185 2,112
126,942 339,838
Creditors: Amounts Falling Due Within One Year 6 (216,472 ) (369,667 )
NET CURRENT ASSETS (LIABILITIES) (89,530 ) (29,829 )
TOTAL ASSETS LESS CURRENT LIABILITIES (87,443 ) (28,738 )
Creditors: Amounts Falling Due After More Than One Year 7 - (64,850 )
NET LIABILITIES (87,443 ) (93,588 )
CAPITAL AND RESERVES
Called up share capital 8 2 2
Profit and Loss Account (87,445 ) (93,590 )
SHAREHOLDERS' FUNDS (87,443) (93,588)
For the year ending 31 May 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.
On behalf of the board
Mr Parminder Singh
Director
9 June 2025
The notes on pages 2 to 3 form part of these financial statements.
Page 1
Page 2
Notes to the Financial Statements
1. General Information
Silver Penny Pvt Limited is a private company, limited by shares, incorporated in England & Wales, registered number 03054863 . The registered office is The Mill House, 108-110 Coppermill Road, Wraysbury, Staines-Upon-Thames, TW19 5NS.
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. Going Concern Disclosure
The accounts have been prepared on a going concern basis notwithstanding the deficit shown on the balance sheet because the director shareholder, has confirmed that the creditors will not seek repayment of the loan due to the company until the company returns to profitability and able to financially sustain the repayments. Also, the director will provide financial support to the company to enable the company to continue its trading activities and pay its debt as it falls due.
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.
2.4. 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:
Office Equipment 25% straight line
2.5. Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
2.6. Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 3 (2023: 2)
3 2
4. Tangible Assets
Office Equipment
£
Cost
As at 1 June 2023 84,141
Additions 1,814
As at 31 May 2024 85,955
Depreciation
As at 1 June 2023 83,050
Provided during the period 818
As at 31 May 2024 83,868
Net Book Value
As at 31 May 2024 2,087
As at 1 June 2023 1,091
Page 2
Page 3
5. Debtors
2024 2023
£ £
Due within one year
Trade debtors 24,000 220,877
Other debtors 99,757 116,849
123,757 337,726
6. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Other creditors 197,796 356,740
Taxation and social security 18,676 12,927
216,472 369,667
7. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Other creditors - 64,850
8. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 2 2
9. Comparable Figures
Previous year figures have been regrouped or rearranged to make them comparable with current year figures.
Page 3