Acorah Software Products - Accounts Production 16.4.680 false true 30 November 2023 1 December 2022 false 1 December 2023 30 November 2024 30 November 2024 11659188 Mr Muhammad Khaliq iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 11659188 2023-11-30 11659188 2024-11-30 11659188 2023-12-01 2024-11-30 11659188 frs-core:CurrentFinancialInstruments 2024-11-30 11659188 frs-core:Non-currentFinancialInstruments 2024-11-30 11659188 frs-core:FurnitureFittings 2024-11-30 11659188 frs-core:FurnitureFittings 2023-12-01 2024-11-30 11659188 frs-core:FurnitureFittings 2023-11-30 11659188 frs-core:NetGoodwill 2024-11-30 11659188 frs-core:NetGoodwill 2023-12-01 2024-11-30 11659188 frs-core:NetGoodwill 2023-11-30 11659188 frs-core:LandBuildings frs-core:LeasedAssetsHeldAsLessee 2024-11-30 11659188 frs-core:LandBuildings frs-core:LeasedAssetsHeldAsLessee 2023-12-01 2024-11-30 11659188 frs-core:LandBuildings frs-core:LeasedAssetsHeldAsLessee 2023-11-30 11659188 frs-core:MotorVehicles 2024-11-30 11659188 frs-core:MotorVehicles 2023-12-01 2024-11-30 11659188 frs-core:MotorVehicles 2023-11-30 11659188 frs-core:PlantMachinery 2024-11-30 11659188 frs-core:PlantMachinery 2023-12-01 2024-11-30 11659188 frs-core:PlantMachinery 2023-11-30 11659188 frs-core:ShareCapital 2024-11-30 11659188 frs-core:RetainedEarningsAccumulatedLosses 2024-11-30 11659188 frs-bus:PrivateLimitedCompanyLtd 2023-12-01 2024-11-30 11659188 frs-bus:FilletedAccounts 2023-12-01 2024-11-30 11659188 frs-bus:SmallEntities 2023-12-01 2024-11-30 11659188 frs-bus:AuditExempt-NoAccountantsReport 2023-12-01 2024-11-30 11659188 frs-bus:SmallCompaniesRegimeForAccounts 2023-12-01 2024-11-30 11659188 frs-bus:Director1 2023-12-01 2024-11-30 11659188 frs-countries:EnglandWales 2023-12-01 2024-11-30 11659188 2022-11-30 11659188 2023-11-30 11659188 2022-12-01 2023-11-30 11659188 frs-core:CurrentFinancialInstruments 2023-11-30 11659188 frs-core:Non-currentFinancialInstruments 2023-11-30 11659188 frs-core:ShareCapital 2023-11-30 11659188 frs-core:RetainedEarningsAccumulatedLosses 2023-11-30
Registered number: 11659188
Megasave (Wales) Ltd
Unaudited Financial Statements
For The Year Ended 30 November 2024
Agnitio Accountants Limited
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 11659188
2024 2023
Notes £ £ £ £
FIXED ASSETS
Intangible Assets 4 10,000 25,000
Tangible Assets 5 61,030 69,279
71,030 94,279
CURRENT ASSETS
Stocks 6 138,545 145,350
Debtors 7 - 5,923
Cash at bank and in hand 35,911 30,403
174,456 181,676
Creditors: Amounts Falling Due Within One Year 8 (73,423 ) (104,736 )
NET CURRENT ASSETS (LIABILITIES) 101,033 76,940
TOTAL ASSETS LESS CURRENT LIABILITIES 172,063 171,219
Creditors: Amounts Falling Due After More Than One Year 9 (45,460 ) (17,953 )
NET ASSETS 126,603 153,266
CAPITAL AND RESERVES
Called up share capital 10 1 1
Profit and Loss Account 126,602 153,265
SHAREHOLDERS' FUNDS 126,603 153,266
Page 1
Page 2
For the year ending 30 November 2024 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 Muhammad Khaliq
Director
07/08/2025
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
Megasave (Wales) Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 11659188 . The registered office is Maple House, Greenwood Close, Cardiff Gate Business Park, Cardiff, CF23 8RD.
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.
2.3. Intangible Fixed Assets and Amortisation - Goodwill
Goodwill is amortised to profit and loss account over its estimated economic life of 6.67 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:
Leasehold 2% on cost
Plant & Machinery 15% on cost
Motor Vehicles 15% on cost
Fixtures & Fittings 15% on cost
2.5. Stocks and Work in Progress
Stocks 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.
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.
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.
Page 3
Page 4
3. Average Number of Employees
Average number of employees, including directors, during the year was: 11 (2023: 13)
11 13
4. Intangible Assets
Goodwill
£
Cost
As at 1 December 2023 100,000
As at 30 November 2024 100,000
Amortisation
As at 1 December 2023 75,000
Provided during the period 15,000
As at 30 November 2024 90,000
Net Book Value
As at 30 November 2024 10,000
As at 1 December 2023 25,000
5. Tangible Assets
Land & Property
Leasehold Plant & Machinery Motor Vehicles Fixtures & Fittings Total
£ £ £ £ £
Cost
As at 1 December 2023 40,500 53,066 6,700 540 100,806
Additions - 1,890 - - 1,890
As at 30 November 2024 40,500 54,956 6,700 540 102,696
Depreciation
As at 1 December 2023 3,240 23,862 4,020 405 31,527
Provided during the period 810 8,243 1,005 81 10,139
As at 30 November 2024 4,050 32,105 5,025 486 41,666
Net Book Value
As at 30 November 2024 36,450 22,851 1,675 54 61,030
As at 1 December 2023 37,260 29,204 2,680 135 69,279
6. Stocks
2024 2023
£ £
Finished goods 138,545 145,350
7. Debtors
2024 2023
£ £
Due within one year
Other debtors - 5,923
Page 4
Page 5
8. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors - 66,529
Bank loans and overdrafts 44,046 9,868
Other creditors 9,315 1,354
Taxation and social security 20,062 26,985
73,423 104,736
9. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Bounceback loan 7,127 17,953
Barclays loan 38,333 -
45,460 17,953
10. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 1 1
Page 5