Acorah Software Products - Accounts Production 16.3.350 false true true 30 June 2023 1 July 2022 false 1 July 2023 30 June 2024 30 June 2024 07297226 Mr Khayyam Ezzat Mr Khayam Ezzat iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 07297226 2023-06-30 07297226 2024-06-30 07297226 2023-07-01 2024-06-30 07297226 frs-core:CurrentFinancialInstruments 2024-06-30 07297226 frs-core:Non-currentFinancialInstruments 2024-06-30 07297226 frs-core:ComputerEquipment 2024-06-30 07297226 frs-core:ComputerEquipment 2023-07-01 2024-06-30 07297226 frs-core:ComputerEquipment 2023-06-30 07297226 frs-core:FurnitureFittings 2024-06-30 07297226 frs-core:FurnitureFittings 2023-07-01 2024-06-30 07297226 frs-core:FurnitureFittings 2023-06-30 07297226 frs-core:LandBuildings frs-core:LeasedAssetsHeldAsLessee 2023-07-01 2024-06-30 07297226 frs-core:LandBuildings frs-core:OwnedOrFreeholdAssets 2024-06-30 07297226 frs-core:LandBuildings frs-core:OwnedOrFreeholdAssets 2023-07-01 2024-06-30 07297226 frs-core:LandBuildings frs-core:OwnedOrFreeholdAssets 2023-06-30 07297226 frs-core:OtherResidualIntangibleAssets 2024-06-30 07297226 frs-core:OtherResidualIntangibleAssets 2023-06-30 07297226 frs-core:SharePremium 2024-06-30 07297226 frs-core:ShareCapital 2024-06-30 07297226 frs-core:RetainedEarningsAccumulatedLosses 2024-06-30 07297226 frs-bus:PrivateLimitedCompanyLtd 2023-07-01 2024-06-30 07297226 frs-bus:FilletedAccounts 2023-07-01 2024-06-30 07297226 frs-bus:SmallEntities 2023-07-01 2024-06-30 07297226 frs-bus:AuditExempt-NoAccountantsReport 2023-07-01 2024-06-30 07297226 frs-bus:SmallCompaniesRegimeForAccounts 2023-07-01 2024-06-30 07297226 frs-bus:Director1 2023-07-01 2024-06-30 07297226 frs-bus:CompanySecretary1 2023-07-01 2024-06-30 07297226 frs-core:CurrentFinancialInstruments 1 2024-06-30 07297226 frs-core:Non-currentFinancialInstruments 2 2024-06-30 07297226 frs-core:CurrentFinancialInstruments 8 2024-06-30 07297226 frs-countries:EnglandWales 2023-07-01 2024-06-30 07297226 2022-06-30 07297226 2023-06-30 07297226 2022-07-01 2023-06-30 07297226 frs-core:CurrentFinancialInstruments 2023-06-30 07297226 frs-core:Non-currentFinancialInstruments 2023-06-30 07297226 frs-core:SharePremium 2023-06-30 07297226 frs-core:ShareCapital 2023-06-30 07297226 frs-core:RetainedEarningsAccumulatedLosses 2023-06-30 07297226 frs-core:CurrentFinancialInstruments 1 2023-06-30 07297226 frs-core:Non-currentFinancialInstruments 2 2023-06-30 07297226 frs-core:CurrentFinancialInstruments 8 2023-06-30
Registered number: 07297226
Abeona Limited
Unaudited Financial Statements
For The Year Ended 30 June 2024
Maurice J Bushell & Co Ltd.
Chartered Certified Accountants
Office 12
Epsilon House
Ipswich
Suffolk
IP3 9FJ
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 07297226
2024 2023
as restated
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 5 649,148 643,417
649,148 643,417
CURRENT ASSETS
Debtors 6 147,464 86,934
Cash at bank and in hand 564,471 443,803
711,935 530,737
Creditors: Amounts Falling Due Within One Year 7 (70,544 ) (57,198 )
NET CURRENT ASSETS (LIABILITIES) 641,391 473,539
TOTAL ASSETS LESS CURRENT LIABILITIES 1,290,539 1,116,956
Creditors: Amounts Falling Due After More Than One Year 8 (308,200 ) (271,105 )
PROVISIONS FOR LIABILITIES
Deferred Taxation (155,840 ) (123,310 )
NET ASSETS 826,499 722,541
CAPITAL AND RESERVES
Called up share capital 9 2,666 2,666
Share premium account 515,000 515,000
Profit and Loss Account 308,833 204,875
SHAREHOLDERS' FUNDS 826,499 722,541
Page 1
Page 2
For the year ending 30 June 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 Khayyam Ezzat
Director
24 June 2025
The notes on pages 3 to 5 form part of these financial statements.
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Page 3
Notes to the Financial Statements
1. General Information
Abeona Limited is a private company, limited by shares, incorporated in England & Wales, registered number 07297226 . The registered office is c/o MJB Avanti, Office 12, Epsilon House, West Road, Ipswich, Suffolk, IP3 9FJ.
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 directors have not identified any material uncertainties related to events or conditions that may cast significant doubt about the company's ability to continue as a going concern.
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. 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:
Freehold 2%
Leasehold 20%
Fixtures & Fittings 25%
Computer Equipment 25%
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 year 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 asset reflects 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 or deferred tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.
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2.6. Government Grant
Government grants are recognised in the profit and loss account in an appropriate manner that matches them with the expenditure towards which they are intended to contribute.
Grants for immediate financial support or to cover costs already incurred are recognised immediately in the profit and loss account. Grants towards general activities of the entity over a specific period are recognised in the profit and loss account over that period.
Grants towards fixed assets are recognised over the expected useful lives of the related assets and are treated as deferred income and released to the profit and loss account over the useful life of the asset concerned.
All grants in the profit and loss account are recognised when all conditions for receipt have been complied with.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 46 (2023: 45)
46 45
4. Intangible Assets
Other
£
Cost
As at 1 July 2023 92,909
As at 30 June 2024 92,909
Amortisation
As at 1 July 2023 92,909
As at 30 June 2024 92,909
Net Book Value
As at 30 June 2024 -
As at 1 July 2023 -
5. Tangible Assets
Land & Property
Freehold Fixtures & Fittings Computer Equipment Total
£ £ £ £
Cost
As at 1 July 2023 847,251 83,759 22,632 953,642
Additions 11,097 23,782 1,588 36,467
As at 30 June 2024 858,348 107,541 24,220 990,109
Depreciation
As at 1 July 2023 233,931 65,187 11,107 310,225
Provided during the period 14,745 11,888 4,103 30,736
As at 30 June 2024 248,676 77,075 15,210 340,961
Net Book Value
As at 30 June 2024 609,672 30,466 9,010 649,148
As at 1 July 2023 613,320 18,572 11,525 643,417
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6. Debtors
2024 2023
as restated
£ £
Due within one year
Trade debtors 84,647 82,608
Other debtors 4,387 4,313
Back valued debtor adjustment 58,430 -
Net wages - 13
147,464 86,934
7. Creditors: Amounts Falling Due Within One Year
2024 2023
as restated
£ £
Trade creditors 2,841 2,926
Bank loans and overdrafts 14,180 19,621
Corporation tax 32,246 10,699
Social security and other taxes 13,963 13,627
VAT - 70
Other creditors 1,175 1,703
Accrued expenses 3,480 3,190
Pension Creditor 2,659 5,362
70,544 57,198
8. Creditors: Amounts Falling Due After More Than One Year
2024 2023
as restated
£ £
Bank loans 256,938 260,396
Parent Deposits 51,262 10,709
308,200 271,105
9. Share Capital
2024 2023
as restated
£ £
Allotted, Called up and fully paid 2,666 2,666
10.
Registered charges
  • Barclays Security Trustee Ltd holds a fixed charge over 30 Warkton Lane, Barton Seagrave, Kettering NN15 5AA.
  • Barclays Security Trustee Ltd holds a floating charge over all the property or undertaking of the company. 
  • The assets that were previously misclassified as freehold property have now been correctly reclassified. The necessary adjustments have been made, and the financial statements have been restated accordingly to reflect the accurate classification.
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