Acorah Software Products - Accounts Production 16.3.350 false true 31 October 2023 1 November 2022 false 1 November 2023 31 October 2024 31 October 2024 08254782 Mr Mohammed Afaque Chaudry Mr Mohammed Shameel Chaudry Mr Mohammed Fahad Chaudry iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 08254782 2023-10-31 08254782 2024-10-31 08254782 2023-11-01 2024-10-31 08254782 frs-core:CurrentFinancialInstruments 2024-10-31 08254782 frs-core:Non-currentFinancialInstruments 2024-10-31 08254782 frs-core:PlantMachinery 2024-10-31 08254782 frs-core:PlantMachinery 2023-11-01 2024-10-31 08254782 frs-core:PlantMachinery 2023-10-31 08254782 frs-core:ShareCapital 2024-10-31 08254782 frs-core:RetainedEarningsAccumulatedLosses 2024-10-31 08254782 frs-bus:PrivateLimitedCompanyLtd 2023-11-01 2024-10-31 08254782 frs-bus:FilletedAccounts 2023-11-01 2024-10-31 08254782 frs-bus:SmallEntities 2023-11-01 2024-10-31 08254782 frs-bus:AuditExempt-NoAccountantsReport 2023-11-01 2024-10-31 08254782 frs-bus:SmallCompaniesRegimeForAccounts 2023-11-01 2024-10-31 08254782 frs-core:FurtherSpecificReserve1ComponentTotalEquity 2023-10-31 08254782 frs-core:FurtherSpecificReserve1ComponentTotalEquity 2024-10-31 08254782 frs-bus:Director1 2023-11-01 2024-10-31 08254782 frs-bus:Director2 2023-11-01 2024-10-31 08254782 frs-bus:Director3 2023-11-01 2024-10-31 08254782 frs-countries:EnglandWales 2023-11-01 2024-10-31 08254782 2022-10-31 08254782 2023-10-31 08254782 2022-11-01 2023-10-31 08254782 frs-core:CurrentFinancialInstruments 2023-10-31 08254782 frs-core:Non-currentFinancialInstruments 2023-10-31 08254782 frs-core:ShareCapital 2023-10-31 08254782 frs-core:RetainedEarningsAccumulatedLosses 2023-10-31 08254782 frs-core:FurtherSpecificReserve1ComponentTotalEquity 2023-10-31
Registered number: 08254782
Kalma Developments Limited
Unaudited Financial Statements
For The Year Ended 31 October 2024
Accounts and Tax Management Limited
Chartered Certified Accountants
A T M Accountants
159 Railway Terrace
Rugby
Warwickshire
CV21 3HQ
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 08254782
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 4,731 2,779
Investment Properties 5 4,386,788 4,386,788
4,391,519 4,389,567
CURRENT ASSETS
Stocks 6 368,759 361,303
Debtors 7 458,745 368,398
Cash at bank and in hand 23,252 108,343
850,756 838,044
Creditors: Amounts Falling Due Within One Year 8 (438,517 ) (345,065 )
NET CURRENT ASSETS (LIABILITIES) 412,239 492,979
TOTAL ASSETS LESS CURRENT LIABILITIES 4,803,758 4,882,546
Creditors: Amounts Falling Due After More Than One Year 9 (1,651,856 ) (1,878,354 )
PROVISIONS FOR LIABILITIES
Deferred Taxation 10 (436,560 ) (435,905 )
NET ASSETS 2,715,342 2,568,287
CAPITAL AND RESERVES
Called up share capital 11 300 300
Fair value reserve 12 1,411,793 1,411,793
Profit and Loss Account 1,303,249 1,156,194
SHAREHOLDERS' FUNDS 2,715,342 2,568,287
Page 1
Page 2
For the year ending 31 October 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 Mohammed Afaque Chaudry
Director
05/06/2025
The notes on pages 3 to 5 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Kalma Developments Limited is a private company, limited by shares, incorporated in England & Wales, registered number 08254782 . The registered office is Haunchwood Road Service Station, Haunchwood Road, Nuneaton, CV10 8DE.
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:
Plant & Machinery 25% on WDV
2.4. Investment Properties
All investment properties are carried at fair value determined annually and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided for. Changes in fair value are recognised in the profit and loss account.
2.5. 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.
2.6. 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.
...CONTINUED
Page 3
Page 4
2.6. Taxation - continued
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.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 3 (2023: 3)
3 3
4. Tangible Assets
Plant & Machinery
£
Cost
As at 1 November 2023 11,580
Additions 3,529
As at 31 October 2024 15,109
Depreciation
As at 1 November 2023 8,801
Provided during the period 1,577
As at 31 October 2024 10,378
Net Book Value
As at 31 October 2024 4,731
As at 1 November 2023 2,779
Cost or valuation as at 31 October 2024 represented by:
Plant & Machinery
£
At cost 15,109
15,109
It is the opinion of the director that the investment property is stated at its fair value. A review of market valuations and rental yields has been undertaken to confirm the valuation represents a fair value.
5. Investment Property
2024
£
Fair Value
As at 1 November 2023 and 31 October 2024 4,386,788
6. Stocks
2024 2023
£ £
Finished goods 368,759 361,303
Page 4
Page 5
7. Debtors
2024 2023
£ £
Due within one year
Other debtors 458,745 368,398
8. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Corporation tax 51,030 54,964
Other taxes and social security 3 -
Other creditors 214,780 187,206
Accruals and deferred income 3,354 2,895
Directors' loan accounts 169,350 100,000
438,517 345,065
9. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Other creditors 748,510 875,008
Directors loan account 903,346 1,003,346
1,651,856 1,878,354
10. Deferred Taxation
The provision for deferred tax is made up as follows:
2024 2023
£ £
Other timing differences 436,560 435,905
11. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 300 300
12. Reserves
Fair Value Reserve
£
As at 1 November 2023 1,411,793
As at 31 October 2024 1,411,793
Page 5