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Munco International Limited
Unaudited Financial Statements
For The Year Ended 31 July 2025
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—6
Page 1
Balance Sheet
Registered number: 02828602
2025 2024
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 10,483 10,159
Investments 5 548,171 520,100
558,654 530,259
CURRENT ASSETS
Debtors 6 456,166 449,425
Cash at bank and in hand 110,217 125,538
566,383 574,963
Creditors: Amounts Falling Due Within One Year 7 (118,169 ) (177,112 )
NET CURRENT ASSETS (LIABILITIES) 448,214 397,851
TOTAL ASSETS LESS CURRENT LIABILITIES 1,006,868 928,110
NET ASSETS 1,006,868 928,110
CAPITAL AND RESERVES
Called up share capital 8 100 100
Profit and Loss Account 1,006,768 928,010
SHAREHOLDERS' FUNDS 1,006,868 928,110
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For the year ending 31 July 2025 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
Taranjit Mundra
Director
19/08/2026
The notes on pages 3 to 6 form part of these financial statements.
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Notes to the Financial Statements
1. General Information
Munco International Limited is a private company, limited by shares, incorporated in England & Wales, registered number 02828602 . The registered office is 9 Fulmar Close, Mickleover, Derby, Derbyshire, DE3 9XH.
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.
2.3. 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.
2.4. 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:
Fixtures & Fittings 15% on a reducing balance basis
Computer Equipment 5 years on a straight-line basis
2.5. 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.
2.6. Financial Instruments
Trade and other debtors / creditors
Trade and other debtors are recognised initially at transaction price less attributable transaction costs. Trade and other creditors are recognised initially at transaction price plus attributable transaction costs. Subsequent to initial recognition they are measured at amortised cost using the effective interest method, less any impairment losses in the case of trade debtors.  If the arrangement constitutes a financing transaction, for example if payment is deferred beyond normal business terms, then it is measured at the present value of future payments discounted at a market rate of instrument for a similar debt instrument.
Cash and cash equivalents
Cash and cash equivalents comprise cash balances and call deposits.
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2.7. 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.
2.8. Dividends
Equity dividends are recognised when they become legally payable. Final equity dividends are recognised when approved by shareholders at an annual general meeting.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 2 (2024: 2)
2 2
4. Tangible Assets
Fixtures & Fittings Computer Equipment Total
£ £ £
Cost
As at 1 August 2024 15,544 27,776 43,320
Additions 367 1,766 2,133
As at 31 July 2025 15,911 29,542 45,453
Depreciation
As at 1 August 2024 12,446 20,715 33,161
Provided during the period 506 1,303 1,809
As at 31 July 2025 12,952 22,018 34,970
Net Book Value
As at 31 July 2025 2,959 7,524 10,483
As at 1 August 2024 3,098 7,061 10,159
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5. Investments
Subsidiaries Other Total
£ £ £
Cost or Valuation
As at 1 August 2024 100 520,000 520,100
Additions - 28,071 28,071
As at 31 July 2025 100 548,071 548,171
Provision
As at 1 August 2024 - - -
As at 31 July 2025 - - -
Net Book Value
As at 31 July 2025 100 548,071 548,171
As at 1 August 2024 100 520,000 520,100
At 31 July 2025 the company held 100% of the ordinary share capital in the wholly owned subsidiary, Progressly Limited (Company # 13800736), incorporated in the United Kingdom with a principal activity of buying, selling and management of own real estate.
Other investments relate to investment property. The 2025 valuation of investment properties was made by the directors, on an open market value for existing use basis.
6. Debtors
2025 2024
£ £
Due within one year
Trade debtors 33,900 58,707
Prepayments and accrued income - 800
Amounts owed by group undertakings 422,266 389,918
456,166 449,425
7. Creditors: Amounts Falling Due Within One Year
2025 2024
£ £
Trade creditors 857 4,429
Other loans 43,021 36,368
Corporation tax 52,976 116,422
VAT 8,234 15,572
Other creditors 13,081 4,321
118,169 177,112
8. Share Capital
2025 2024
£ £
Allotted, Called up and fully paid 100 100
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9. Dividends
2025 2024
£ £
On equity shares:
Final dividend paid 74,561 41,212
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