Acorah Software Products - Accounts Production 16.4.675 false true 29 February 2024 1 March 2023 false 1 March 2024 28 February 2025 28 February 2025 12489149 Mr Karl Anthony Nii Klotey Quaye iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 12489149 2024-02-29 12489149 2025-02-28 12489149 2024-03-01 2025-02-28 12489149 frs-core:CurrentFinancialInstruments 2025-02-28 12489149 frs-core:Non-currentFinancialInstruments 2025-02-28 12489149 frs-core:ComputerEquipment 2025-02-28 12489149 frs-core:ComputerEquipment 2024-03-01 2025-02-28 12489149 frs-core:ComputerEquipment 2024-02-29 12489149 frs-core:FurnitureFittings 2025-02-28 12489149 frs-core:FurnitureFittings 2024-03-01 2025-02-28 12489149 frs-core:FurnitureFittings 2024-02-29 12489149 frs-core:ShareCapital 2025-02-28 12489149 frs-core:RetainedEarningsAccumulatedLosses 2025-02-28 12489149 frs-bus:PrivateLimitedCompanyLtd 2024-03-01 2025-02-28 12489149 frs-bus:FilletedAccounts 2024-03-01 2025-02-28 12489149 frs-bus:SmallEntities 2024-03-01 2025-02-28 12489149 frs-bus:AuditExempt-NoAccountantsReport 2024-03-01 2025-02-28 12489149 frs-bus:SmallCompaniesRegimeForAccounts 2024-03-01 2025-02-28 12489149 frs-bus:Director1 2024-03-01 2025-02-28 12489149 frs-core:CurrentFinancialInstruments 1 2025-02-28 12489149 frs-countries:EnglandWales 2024-03-01 2025-02-28 12489149 2023-02-28 12489149 2024-02-29 12489149 2023-03-01 2024-02-29 12489149 frs-core:CurrentFinancialInstruments 2024-02-29 12489149 frs-core:Non-currentFinancialInstruments 2024-02-29 12489149 frs-core:ShareCapital 2024-02-29 12489149 frs-core:RetainedEarningsAccumulatedLosses 2024-02-29 12489149 frs-core:CurrentFinancialInstruments 1 2024-02-29 12489149 frs-core:CurrentFinancialInstruments 3 2024-02-29
Registered number: 12489149
Quaye Services Limited
Financial Statements
For The Year Ended 28 February 2025
Adams & Moore Ltd
Adams & Moore House
Instone Road
Dartford
DA1 2AG
Financial Statements
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 12489149
2025 2024
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 3 7,587 4,202
7,587 4,202
CURRENT ASSETS
Stocks 4 22,000 -
Debtors 5 18,519 26,894
Cash at bank and in hand 89,637 80,232
130,156 107,126
Creditors: Amounts Falling Due Within One Year 6 (52,142 ) (48,319 )
NET CURRENT ASSETS (LIABILITIES) 78,014 58,807
TOTAL ASSETS LESS CURRENT LIABILITIES 85,601 63,009
Creditors: Amounts Falling Due After More Than One Year 7 (25,000 ) (30,556 )
NET ASSETS 60,601 32,453
CAPITAL AND RESERVES
Called up share capital 8 1 1
Profit and Loss Account 60,600 32,452
SHAREHOLDERS' FUNDS 60,601 32,453
Page 1
Page 2
For the year ending 28 February 2025 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 Karl Anthony Nii Klotey Quaye
Director
18/07/2025
The notes on pages 3 to 5 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. Accounting Policies
1.1. 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.
1.2. 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.
1.3. 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% on reducing balance
Computer Equipment 25% on reducing balance
1.4. Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
1.5. 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.
Page 3
Page 4
1.6. Pensions
The company operates a defined pension contribution scheme. Contributions are charged to the profit and loss account as they become payable in accordance with the rules of the scheme.
2. Average Number of Employees
Average number of employees, including directors, during the year was as follows: 2 (2024: 2)
2 2
3. Tangible Assets
Fixtures & Fittings Computer Equipment Total
£ £ £
Cost
As at 1 March 2024 666 6,230 6,896
Additions - 4,745 4,745
As at 28 February 2025 666 10,975 11,641
Depreciation
As at 1 March 2024 182 2,512 2,694
Provided during the period 121 1,239 1,360
As at 28 February 2025 303 3,751 4,054
Net Book Value
As at 28 February 2025 363 7,224 7,587
As at 1 March 2024 484 3,718 4,202
4. Stocks
2025 2024
£ £
Work in progress 22,000 -
5. Debtors
2025 2024
£ £
Due within one year
Trade debtors 14,919 24,494
Other debtors 3,600 2,400
18,519 26,894
6. Creditors: Amounts Falling Due Within One Year
2025 2024
£ £
Trade creditors 8,262 5,553
Bank loans and overdrafts 5,556 5,556
Corporation tax 22,639 11,818
Other taxes and social security 1,019 1,042
VAT 1,228 5,757
Net wages 5,752 5,752
...CONTINUED
Page 4
Page 5
Credit Card 6,586 11,774
Pension account - (183 )
Accruals and deferred income 1,100 1,250
52,142 48,319
7. Creditors: Amounts Falling Due After More Than One Year
2025 2024
£ £
Bank loans 25,000 30,556
25,000 30,556
8. Share Capital
2025 2024
£ £
Allotted, Called up and fully paid 1 1
9. General Information
Quaye Services Limited is a private company, limited by shares, incorporated in England & Wales, registered number 12489149 . The registered office is Adams & Moore House, Instone Road, Dartford, Kent, DA1 2AG.
Page 5