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 07826748 Alvin Osei-Tutu iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 07826748 2024-02-29 07826748 2025-02-28 07826748 2024-03-01 2025-02-28 07826748 frs-core:CurrentFinancialInstruments 2025-02-28 07826748 frs-core:Non-currentFinancialInstruments 2025-02-28 07826748 frs-core:BetweenOneFiveYears 2025-02-28 07826748 frs-core:ComputerEquipment 2025-02-28 07826748 frs-core:ComputerEquipment 2024-03-01 2025-02-28 07826748 frs-core:ComputerEquipment 2024-02-29 07826748 frs-core:DevelopmentCostsCapitalisedDevelopmentExpenditure 2024-03-01 2025-02-28 07826748 frs-core:FurnitureFittings 2025-02-28 07826748 frs-core:FurnitureFittings 2024-03-01 2025-02-28 07826748 frs-core:FurnitureFittings 2024-02-29 07826748 frs-core:MotorVehicles 2025-02-28 07826748 frs-core:MotorVehicles 2024-03-01 2025-02-28 07826748 frs-core:MotorVehicles 2024-02-29 07826748 frs-core:OtherResidualIntangibleAssets 2025-02-28 07826748 frs-core:OtherResidualIntangibleAssets 2024-03-01 2025-02-28 07826748 frs-core:OtherResidualIntangibleAssets 2024-02-29 07826748 frs-core:WithinOneYear 2025-02-28 07826748 frs-core:ShareCapital 2025-02-28 07826748 frs-core:RetainedEarningsAccumulatedLosses 2025-02-28 07826748 frs-bus:PrivateLimitedCompanyLtd 2024-03-01 2025-02-28 07826748 frs-bus:FilletedAccounts 2024-03-01 2025-02-28 07826748 frs-bus:SmallEntities 2024-03-01 2025-02-28 07826748 frs-bus:AuditExempt-NoAccountantsReport 2024-03-01 2025-02-28 07826748 frs-bus:SmallCompaniesRegimeForAccounts 2024-03-01 2025-02-28 07826748 frs-bus:Director1 2024-03-01 2025-02-28 07826748 frs-bus:Director1 2024-02-29 07826748 frs-bus:Director1 2025-02-28 07826748 frs-core:CurrentFinancialInstruments 1 2025-02-28 07826748 frs-core:CurrentFinancialInstruments 2 2025-02-28 07826748 frs-core:CurrentFinancialInstruments 6 2025-02-28 07826748 frs-core:CurrentFinancialInstruments 7 2025-02-28 07826748 frs-countries:EnglandWales 2024-03-01 2025-02-28 07826748 2023-02-28 07826748 2024-02-29 07826748 2023-03-01 2024-02-29 07826748 frs-core:CurrentFinancialInstruments 2024-02-29 07826748 frs-core:Non-currentFinancialInstruments 2024-02-29 07826748 frs-core:BetweenOneFiveYears 2024-02-29 07826748 frs-core:WithinOneYear 2024-02-29 07826748 frs-core:ShareCapital 2024-02-29 07826748 frs-core:RetainedEarningsAccumulatedLosses 2024-02-29 07826748 frs-core:CurrentFinancialInstruments 1 2024-02-29 07826748 frs-core:CurrentFinancialInstruments 2 2024-02-29 07826748 frs-core:CurrentFinancialInstruments 6 2024-02-29 07826748 frs-core:CurrentFinancialInstruments 7 2024-02-29
Registered number: 07826748
Buadu Limited
Unaudited Financial Statements
For The Year Ended 28 February 2025
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—6
Page 1
Balance Sheet
Registered number: 07826748
2025 2024
Notes £ £ £ £
FIXED ASSETS
Intangible Assets 4 1,800 2,520
Tangible Assets 5 107,070 103,777
108,870 106,297
CURRENT ASSETS
Debtors 6 976,277 933,749
Cash at bank and in hand 6 5
976,283 933,754
Creditors: Amounts Falling Due Within One Year 7 (679,135 ) (629,675 )
NET CURRENT ASSETS (LIABILITIES) 297,148 304,079
TOTAL ASSETS LESS CURRENT LIABILITIES 406,018 410,376
Creditors: Amounts Falling Due After More Than One Year 8 (319,330 ) (336,505 )
PROVISIONS FOR LIABILITIES
Deferred Taxation (26,768 ) (25,944 )
NET ASSETS 59,920 47,927
CAPITAL AND RESERVES
Called up share capital 10 100 100
Profit and Loss Account 59,820 47,827
SHAREHOLDERS' FUNDS 59,920 47,927
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
Alvin Osei-Tutu
Director
04/08/2025
The notes on pages 3 to 6 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Buadu Limited is a private company, limited by shares, incorporated in England & Wales, registered number 07826748 . The registered office is 259 London Road, Hadleigh, Benfleet, SS7 2BN.
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.
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. Intangible Fixed Assets and Amortisation - Other Intangible
Other intangible assets are franchise license fee. It is amortised to profit and loss account over its estimated economic life of 5 years.
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:
Motor Vehicles - 20% reducing balance
Fixtures & Fittings - 25% reducing balance
Computer Equipment - 33% straight 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.
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 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.
...CONTINUED
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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 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.
2.7. 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.
2.8. Employee benefits
The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required
to be recognised as part of the cost of stock or fixed assets.
The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.
Termination benefits are recognised immediately as an expense when the company is demonstrably committed to
terminate the employment of an employee or to provide termination benefits.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 75 (2024: 102)
75 102
4. Intangible Assets
Other
£
Cost
As at 1 March 2024 89,314
As at 28 February 2025 89,314
Amortisation
As at 1 March 2024 86,794
Provided during the period 720
As at 28 February 2025 87,514
Net Book Value
As at 28 February 2025 1,800
As at 1 March 2024 2,520
5. Tangible Assets
Motor Vehicles Fixtures & Fittings Computer Equipment Total
£ £ £ £
Cost
As at 1 March 2024 220,648 17,508 30,477 268,633
Additions 28,508 2,836 2,037 33,381
As at 28 February 2025 249,156 20,344 32,514 302,014
...CONTINUED
Page 4
Page 5
Depreciation
As at 1 March 2024 125,697 12,200 26,959 164,856
Provided during the period 24,692 2,036 3,360 30,088
As at 28 February 2025 150,389 14,236 30,319 194,944
Net Book Value
As at 28 February 2025 98,767 6,108 2,195 107,070
As at 1 March 2024 94,951 5,308 3,518 103,777
6. Debtors
2025 2024
£ £
Due within one year
Trade debtors 173,424 134,928
Prepayments and accrued income 2,267 2,644
Rental deposit 4,050 7,550
Director's loan account 55,484 357,788
235,225 502,910
Due after more than one year
Amounts owed by associates 741,052 430,839
976,277 933,749
7. Creditors: Amounts Falling Due Within One Year
2025 2024
£ £
Net obligations under finance lease and hire purchase contracts 27,452 16,297
Trade creditors 2,639 5,757
Bank loans and overdrafts 71,418 99,130
Other loans 10,944 22,195
Corporation tax 253,298 224,040
Other taxes and social security 48,097 34,155
Net wages 127,620 108,753
Pension control 11,825 9,795
Commercial cards 14,340 12,469
Holidays accrual 104,945 95,163
Accruals and deferred income 6,557 1,921
679,135 629,675
8. Creditors: Amounts Falling Due After More Than One Year
2025 2024
£ £
Net obligations under finance lease and hire purchase contracts 62,737 69,422
Bank loans 8,217 18,707
Amounts owed to associates 248,376 248,376
319,330 336,505
Page 5
Page 6
9. Obligations Under Finance Leases and Hire Purchase
2025 2024
£ £
The future minimum finance lease payments are as follows:
Not later than one year 27,452 16,297
Later than one year and not later than five years 62,737 69,422
90,189 85,719
90,189 85,719
10. Share Capital
2025 2024
£ £
Allotted, Called up and fully paid 100 100
11. Directors Advances, Credits and Guarantees
Included within Debtors are the following loans to directors:
As at 1 March 2024 Amounts advanced Amounts repaid Amounts written off As at 28 February 2025
£ £ £ £ £
Mr Alvin Osei-Tutu 357,788 55,484 357,788 - 55,484
The above loan is unsecured, interest free and repayable on demand.
12. Related Party Transactions
The director Alvin-Osei Tutu, is a majority shareholder of A.C Sika and Buadu Corp Limited, and a 50% shareholder in MAAJR Limited and MAAJR Partners Ltd.
Buadu Limited owed A.C Sika £248,376 (£248,376 - 2024).
Buadu Limited is owed £405,506 (£349,798 - 2024) by Buadu Corp Limited, £311,041 (£81,041 - 2024), by MAARJ Limited, £24,505 (£0 - 2024), by MAAJR Partners Ltd.
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