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Registered number: 12454310
Bait London Limited
Unaudited Financial Statements
For The Year Ended 28 February 2025
Brindley Goldstein Limited
103 High Street
Waltham Cross
EN8 7AN
Contents
Page
Accountants' Report 1
Balance Sheet 2
Notes to the Financial Statements 3—4
Page 1
Accountants' Report
Chartered Accountants' report to the director on the preparation of the unaudited statutory accounts of Bait London Limited for the year ended 28 February 2025
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Bait London Limited for the year ended 28 February 2025 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 firm 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 director of Bait London Limited , as a body, in accordance with the terms of our engagement letter dated . Our work has been undertaken solely to prepare for your approval the accounts of Bait London Limited and state those matters that we have agreed to state to the director of Bait London 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 Bait London Limited and its director, as a body, for our work or for this report.
It is your duty to ensure that Bait London 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 Bait London Limited . You consider that Bait London 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 Bait London 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.
18th July 2025
Brindley Goldstein Limited
103 High Street
Waltham Cross
EN8 7AN
Page 1
Page 2
Balance Sheet
Registered number: 12454310
2025 2024
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 524 892
524 892
CURRENT ASSETS
Debtors 5 169,500 161,500
Cash at bank and in hand - 41,139
169,500 202,639
Creditors: Amounts Falling Due Within One Year 6 (44,522 ) (38,849 )
NET CURRENT ASSETS (LIABILITIES) 124,978 163,790
TOTAL ASSETS LESS CURRENT LIABILITIES 125,502 164,682
NET ASSETS 125,502 164,682
CAPITAL AND RESERVES
Called up share capital 7 100 100
Profit and Loss Account 125,402 164,582
SHAREHOLDERS' FUNDS 125,502 164,682
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 Guy Finkelstein
Director
18th July 2025
The notes on pages 3 to 4 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Bait London Limited is a private company, limited by shares, incorporated in England & Wales, registered number 12454310 . The registered office is 103 High Street, Waltham Cross, Hertfordshire, EN8 7AN.
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:
Fixtures & Fittings 20% straight line
Computer Equipment 33.33% straight line
2.4. 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.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 1 (2024: 1)
1 1
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4. Tangible Assets
Fixtures & Fittings Computer Equipment Total
£ £ £
Cost
As at 1 March 2024 1,040 642 1,682
As at 28 February 2025 1,040 642 1,682
Depreciation
As at 1 March 2024 308 482 790
Provided during the period 208 160 368
As at 28 February 2025 516 642 1,158
Net Book Value
As at 28 February 2025 524 - 524
As at 1 March 2024 732 160 892
5. Debtors
2025 2024
£ £
Due within one year
Other debtors 169,500 161,500
6. Creditors: Amounts Falling Due Within One Year
2025 2024
£ £
Bank loans and overdrafts 7,322 -
Corporation tax 24,542 24,298
Other taxes and social security - 289
VAT 12,033 13,295
Director's loan account 625 967
44,522 38,849
7. Share Capital
2025 2024
£ £
Allotted, Called up and fully paid 100 100
8. Related Party Transactions
The company was under the control of Mr G. Finkelstein throughout the current period. Mr G. Finkelstein is personally
interested in 70% of the company's share capital. Mrs M. Finkelstein is personally interested in 30% of the company's share
capital.
Mr G. Finkelstein received a dividend from the company during the year of £78,000 (2024: £37,800), Mrs M. Finkelstein
received a dividend from the company during the year of £42,000 (2024: £16,200).
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