Acorah Software Products - Accounts Production 16.4.675 false true true 31 August 2023 1 September 2022 false 1 September 2023 31 August 2024 31 August 2024 03028676 Dr Wook Choi Mr Seung Kim Mrs Eunsun Ko Mr Seung Kim iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 03028676 2023-08-31 03028676 2024-08-31 03028676 2023-09-01 2024-08-31 03028676 frs-core:CurrentFinancialInstruments 2024-08-31 03028676 frs-core:Non-currentFinancialInstruments 2024-08-31 03028676 frs-core:FurnitureFittings 2024-08-31 03028676 frs-core:FurnitureFittings 2023-09-01 2024-08-31 03028676 frs-core:FurnitureFittings 2023-08-31 03028676 frs-core:LandBuildings frs-core:OwnedOrFreeholdAssets 2024-08-31 03028676 frs-core:LandBuildings frs-core:OwnedOrFreeholdAssets 2023-09-01 2024-08-31 03028676 frs-core:LandBuildings frs-core:OwnedOrFreeholdAssets 2023-08-31 03028676 frs-core:WithinOneYear 2024-08-31 03028676 frs-core:ShareCapital 2024-08-31 03028676 frs-core:RetainedEarningsAccumulatedLosses 2024-08-31 03028676 frs-bus:PrivateLimitedCompanyLtd 2023-09-01 2024-08-31 03028676 frs-bus:FilletedAccounts 2023-09-01 2024-08-31 03028676 frs-bus:SmallEntities 2023-09-01 2024-08-31 03028676 frs-bus:AuditExempt-NoAccountantsReport 2023-09-01 2024-08-31 03028676 frs-bus:SmallCompaniesRegimeForAccounts 2023-09-01 2024-08-31 03028676 frs-bus:Director1 2023-09-01 2024-08-31 03028676 frs-bus:Director2 2023-09-01 2024-08-31 03028676 frs-bus:Director3 2023-09-01 2024-08-31 03028676 frs-bus:CompanySecretary1 2023-09-01 2024-08-31 03028676 frs-countries:EnglandWales 2023-09-01 2024-08-31 03028676 2022-08-31 03028676 2023-08-31 03028676 2022-09-01 2023-08-31 03028676 frs-core:CurrentFinancialInstruments 2023-08-31 03028676 frs-core:Non-currentFinancialInstruments 2023-08-31 03028676 frs-core:WithinOneYear 2023-08-31 03028676 frs-core:ShareCapital 2023-08-31 03028676 frs-core:RetainedEarningsAccumulatedLosses 2023-08-31
Registered number: 03028676
Felixstowe International E-Wha Limited
Unaudited Financial Statements
For The Year Ended 31 August 2024
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 03028676
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 553,184 553,194
553,184 553,194
CURRENT ASSETS
Cash at bank and in hand 13,384 4,255
13,384 4,255
Creditors: Amounts Falling Due Within One Year 5 (673,261 ) (2,465,979 )
NET CURRENT ASSETS (LIABILITIES) (659,877 ) (2,461,724 )
TOTAL ASSETS LESS CURRENT LIABILITIES (106,693 ) (1,908,530 )
Creditors: Amounts Falling Due After More Than One Year 6 (1,494,411 ) -
NET LIABILITIES (1,601,104 ) (1,908,530 )
CAPITAL AND RESERVES
Called up share capital 8 10,000 10,000
Profit and Loss Account (1,611,104 ) (1,918,530 )
SHAREHOLDERS' FUNDS (1,601,104) (1,908,530)
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For the year ending 31 August 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 Seung Kim
Director
5th August 2025
The notes on pages 3 to 5 form part of these financial statements.
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Notes to the Financial Statements
1. General Information
Felixstowe International E-Wha Limited is a private company, limited by shares, incorporated in England & Wales, registered number 03028676 . The registered office is Maybush House Felixstowe International College, Maybush House, Maybush Lane, Felixstowe, Suffolk, IP11 7NA.
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.
The other loan amounts of £1,494,411 (2023: £2,052,776) do not have a formal repayment date and there is no obligation to pay unless profits are made from the school. 
Factoring in the above, and the continued financial support of the directors, it is reasonable to use the going concern basis for the company. 
2.3. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes.  Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Rendering of services
Turnover from tuition fees and accommodation are recognised over the period of instruction to which it relates. Fees received in advance of the academic period are deferred and recognised as income in the period to which they relate.
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 Not depreciated
Fixtures & Fittings 25% Sraight Line
2.5. Leasing and Hire Purchase Contracts
Assets obtained under finance leases are capitalised as tangible fixed assets. Assets acquired under finance leases are depreciated over the shorter of the lease term and their useful lives. Assets acquired under hire purchase contracts are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in the creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to the profit and loss account as incurred.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 24 (2023: 24)
24 24
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4. Tangible Assets
Land & Property
Freehold Fixtures & Fittings Total
£ £ £
Cost
As at 1 September 2023 553,184 70,640 623,824
As at 31 August 2024 553,184 70,640 623,824
Depreciation
As at 1 September 2023 - 70,630 70,630
Provided during the period - 10 10
As at 31 August 2024 - 70,640 70,640
Net Book Value
As at 31 August 2024 553,184 - 553,184
As at 1 September 2023 553,184 10 553,194
5. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Net obligations under finance lease and hire purchase contracts - (485 )
Trade creditors 31,376 -
Other loans - 2,556,381
Other creditors 535,689 (89,917)
Taxation and social security 106,196 -
673,261 2,465,979
6. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Other loans 494,411 -
Other creditors 1,000,000 -
1,494,411 -
At the year end, the company owed £1,000,000 to a former director. The loan is interest-free, unsecured and not repayable on demand. The maximum amount oustanding during the year was £1,000,000.
7. Obligations Under Finance Leases and Hire Purchase
2024 2023
£ £
The future minimum finance lease payments are as follows:
Not later than one year - (485 )
8. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 10,000 10,000
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9. Post Balance Sheet Events
After the balance sheet date, a charge has been raised on Companies House for a negative pledge in the lease renewal in October 2024. 
There are currently no further details on the amount or severity of the charge at the date of signing. 
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