Acorah Software Products - Accounts Production 16.3.350 false true 31 March 2024 1 April 2023 false 1 April 2024 30 November 2024 30 November 2024 11702512 Mr Asif Ali iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 11702512 2024-03-31 11702512 2024-11-30 11702512 2024-04-01 2024-11-30 11702512 frs-core:CurrentFinancialInstruments 2024-11-30 11702512 frs-core:Non-currentFinancialInstruments 2024-11-30 11702512 frs-core:FurnitureFittings 2024-04-01 2024-11-30 11702512 frs-core:ShareCapital 2024-11-30 11702512 frs-core:RetainedEarningsAccumulatedLosses 2024-11-30 11702512 frs-bus:PrivateLimitedCompanyLtd 2024-04-01 2024-11-30 11702512 frs-bus:FilletedAccounts 2024-04-01 2024-11-30 11702512 frs-bus:SmallEntities 2024-04-01 2024-11-30 11702512 frs-bus:AuditExempt-NoAccountantsReport 2024-04-01 2024-11-30 11702512 frs-bus:SmallCompaniesRegimeForAccounts 2024-04-01 2024-11-30 11702512 frs-bus:Director1 2024-04-01 2024-11-30 11702512 frs-countries:EnglandWales 2024-04-01 2024-11-30 11702512 2023-03-31 11702512 2024-03-31 11702512 2023-04-01 2024-03-31 11702512 frs-core:CurrentFinancialInstruments 2024-03-31 11702512 frs-core:Non-currentFinancialInstruments 2024-03-31 11702512 frs-core:ShareCapital 2024-03-31 11702512 frs-core:RetainedEarningsAccumulatedLosses 2024-03-31
Registered number: 11702512
Ak Fashion Ltd
Unaudited Financial Statements
For the Period 1 April 2024 to 30 November 2024
Alderton Accountancy Limited
Contents
Page
Balance Sheet 1
Notes to the Financial Statements 2—4
Page 1
Balance Sheet
Registered number: 11702512
30 November 2024 31 March 2024
Notes £ £ £ £
CURRENT ASSETS
Debtors 4 41,476 42,453
Cash at bank and in hand 405 773
41,881 43,226
Creditors: Amounts Falling Due Within One Year 5 (24,563 ) (21,218 )
NET CURRENT ASSETS (LIABILITIES) 17,318 22,008
TOTAL ASSETS LESS CURRENT LIABILITIES 17,318 22,008
Creditors: Amounts Falling Due After More Than One Year 6 (14,490 ) (20,154 )
NET ASSETS 2,828 1,854
CAPITAL AND RESERVES
Called up share capital 7 100 100
Profit and Loss Account 2,728 1,754
SHAREHOLDERS' FUNDS 2,828 1,854
For the period ending 30 November 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 Asif Ali
Director
01/07/2025
The notes on pages 2 to 4 form part of these financial statements.
Page 1
Page 2
Notes to the Financial Statements
1. General Information
Ak Fashion Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 11702512 . The registered office is 193 Ilford Lane, Ilford, London, IG1 2RU.
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 for goods supplied, net of discounts and Value Added Tax.
Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer, usually on despatch of the goods; the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured 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 15% Reducing balance method
2.4. Financial Instruments
A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument.
Basic financial instruments are initially recognised at the transaction price and are subsequently measured as follows: Debt instruments are subsequently measured at amortised cost and commitments to receive a loan and to make a loan to another entity are subsequently measured at amortised cost.
Where investments in non-convertible preference shares and non-puttable ordinary shares or preference shares are publicly traded or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value with changes in fair value recognised in profit or loss. All other
such investments are subsequently measured at cost less impairment.
All other financial instruments, including derivatives, are initially recognised at fair value, which is normally the transaction price and are subsequently measured at fair value, with any changes recognised in profit or loss.
Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately.
All equity instruments regardless of significance, and other financial assets that are individually significant, are assessed individually for impairment. Other financial assets or either assessed individually or grouped on the basis of similar credit risk characteristics.
Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.
Page 2
Page 3
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 period, 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.
2.6. Trade 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.
2.7. Trade 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 period was: NIL (2024: NIL)
- -
4. Debtors
30 November 2024 31 March 2024
£ £
Due within one year
Trade debtors - 3,977
Other debtors 41,476 38,476
41,476 42,453
Page 3
Page 4
5. Creditors: Amounts Falling Due Within One Year
30 November 2024 31 March 2024
£ £
Trade creditors 7,244 708
Bank loans and overdrafts 3,546 -
Other creditors 13,544 20,151
Taxation and social security 229 359
24,563 21,218
6. Creditors: Amounts Falling Due After More Than One Year
30 November 2024 31 March 2024
£ £
Bank loans 14,490 20,154
7. Share Capital
30 November 2024 31 March 2024
£ £
Allotted, Called up and fully paid 100 100
Page 4