Ideadrop Limited Filleted Accounts Cover
Ideadrop Limited
Company No. 08928621
Information for Filing with The Registrar
30 September 2023
Ideadrop Limited Directors Report Registrar
The Directors present their report and the accounts for the period ended 30 September 2023.
Principal activities
The principal activity of the company during the period under review was software development and sales.
Directors
The Directors who served at any time during the period were as follows:
A.J. Honess
O. Hunnam
C.M.L. Voo
The above report has been prepared in accordance with the provisions applicable to companies subject to the small companies regime as set out in Part 15 of the Companies Act 2006.
Signed on behalf of the board
O. Hunnam
Director
24 October 2023
Ideadrop Limited Balance Sheet Registrar
at
30 September 2023
Company No.
08928621
Notes
2023
2022
£
£
Fixed assets
Intangible assets
5
1119,941
Tangible assets
6
-349
1120,290
Current assets
Debtors
7
-43,553
Cash at bank and in hand
56,756114,852
56,756158,405
Creditors: Amount falling due within one year
8
(3,330)
(247,047)
Net current assets/(liabilities)
53,426
(88,642)
Total assets less current liabilities
53,42731,648
Creditors: Amounts falling due after more than one year
9
-
(40,000)
Net assets/(liabilities)
53,427
(8,352)
Capital and reserves
Called up share capital
56,82156,821
Share premium account
11
1,282,4751,282,475
Profit and loss account
11
(1,285,869)
(1,347,648)
Total equity
53,427
(8,352)
These accounts have been prepared in accordance with the special provisions applicable to companies subject to the small companies regime of the Companies Act 2006.
For the period ended 30 September 2023 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 Companies Act 2006 with respect to accounting records and the preparation of accounts.
As permitted by section 444 (5A)of the Companies Act 2006 the directors have not delivered to the Registrar a copy of the company's profit and loss account.
Approved by the board on 24 October 2023
And signed on its behalf by:
O. Hunnam
Director
24 October 2023
Ideadrop Limited Notes to the Accounts Registrar
for the period ended 30 September 2023
1
General information
Its registered number is: 08928621
Its registered office is:
7 Blighs Walk
Sevenoaks
Kent
TN13 1DB
The accounts have been prepared in accordance with FRS 102 Section 1A - The Financial Reporting Standard applicable in the UK and Republic of Ireland (March 2018) and the Companies Act 2006.
2
Accounting policies
Turnover
Turnover is measured at the fair value of the consideration received or receivable. Turnover is reduced for estimated customer returns, rebates and other similar allowances.

Revenue from the sale of goods is recognised when all the following conditions are satisfied:
• the Company has transferred to the buyer the significant risks and rewards of ownership of the
goods;
• the Company retains neither continuing managerial involvement to the degree usually associated
with ownership nor effective control over the goods sold;
• the amount of revenue can be measured reliably;
• it is probable that the economic benefits associated with the transaction will flow to the Company;
and
• the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Specifically, revenue from the sale of goods is recognised when goods are delivered and legal title is passed.
Tangible fixed assets and depreciation
Tangible fixed assets held for the company's own use are stated at cost less accumulated depreciation and accumulated impairment losses.

At each balance sheet date, the company reviews the carrying amount of its tangible fixed assets to determine whether there is any indication that any items have suffered an impairment loss. If any such indication exists, the recoverable amount of an asset is estimated in order to determine the extent of the impairment loss.
Depreciation is provided at the following annual rates in order to write off the cost or valuation less the estimated residual value of each asset over its estimated useful life:
Furniture, fittings and equipment
20% Straight line
Trade and other debtors
Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method, less impairment losses for bad and doubtful debts.
Trade and other creditors
Short term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.
Foreign currencies
The functional and presentational currency of the company is Sterling. The accounts are rounded to the nearest pound.
Transactions in currencies, other than the functional currency of the Company, are recorded at the rate of exchange on the date the transaction occurred. Monetary items denominated in other currencies are translated at the rate prevailing at the end of the reporting period. all differences are taken to the profit and loss account. Non-monetary items that are measured at historic cost in a foreign currency are not retranslated.
3
Change in length of the reporting period
The length of the reporting period has changed from 12 months to 9 months due to the business being wound up.
4
Employees
2023
2022
Number
Number
The average monthly number of employees (including directors) during the period:
111
5
Intangible fixed assets
Develop-ment costs
Total
£
£
Cost
At 1 January 2023
464,230464,230
Disposals
(464,230)
(464,230)
At 30 September 2023
--
Amortisation and impairment
At 1 January 2023
344,289344,289
Disposals
(344,290)
(344,290)
At 30 September 2023
(1)
(1)
Net book values
At 30 September 2023
11
At 31 December 2022
119,941119,941
6
Tangible fixed assets
Fixtures, fittings and equipment
Total
£
£
Cost or revaluation
At 1 January 2023
2,7002,700
Disposals
(2,700)
(2,700)
At 30 September 2023
--
Depreciation
At 1 January 2023
2,3512,351
Disposals
(2,351)
(2,351)
At 30 September 2023
--
Net book values
At 30 September 2023
--
At 31 December 2022
349
349
7
Debtors
2023
2022
£
£
Trade debtors
-16,226
Corporation tax recoverable
-23,695
Other debtors
-1,829
Prepayments and accrued income
-1,803
-43,553
8
Creditors:
amounts falling due within one year
2023
2022
£
£
Trade creditors
7322,080
Taxes and social security
(903)
136,027
Other creditors
-47,440
Accruals and deferred income
3,50161,500
3,330247,047
9
Creditors:
amounts falling due after more than one year
2023
2022
£
£
Bank loans and overdrafts
-40,000
-40,000
10
Share Capital
Ordinary £0.001
11
Reserves
Share premium account - includes any premiums received on issue of share capital. Any transaction costs associated with the issuing of shares are deducted from share premium.
Profit and loss account - includes all current and prior period retained profits and losses.
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