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COMPANY REGISTRATION NUMBER: 08857753
Acadameus Limited
Filleted Unaudited Accounts
31 January 2024
Acadameus Limited
Statement of Financial Position
31 January 2024
2024
2023
Note
£
£
£
Fixed assets
Tangible assets
5
142
Current assets
Debtors
6
247
Cash at bank and in hand
52,654
70,614
--------
--------
52,654
70,861
Creditors: amounts falling due within one year
7
( 24,162)
( 34,741)
--------
--------
Net current assets
28,492
36,120
--------
--------
Total assets less current liabilities
28,492
36,262
Creditors: amounts falling due after more than one year
8
( 445)
Provisions
Taxation including deferred tax
379
( 27)
--------
--------
Net assets
28,871
35,790
--------
--------
Capital and reserves
Called up share capital
100
100
Profit and loss account
28,771
35,690
--------
--------
Shareholders funds
28,871
35,790
--------
--------
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the year ending 31 January 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
- The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts .
Acadameus Limited
Statement of Financial Position (continued)
31 January 2024
These accounts were approved by the board of directors and authorised for issue on 7 March 2024 , and are signed on behalf of the board by:
Mr R W Payne
Director
Company registration number: 08857753
Acadameus Limited
Notes to the Accounts
Year ended 31 January 2024
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 5 Godalming Business Centre, Woolsack Way, Godalming, Surrey, GU7 1XW.
2. Statement of compliance
These accounts have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The accounts have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The accounts are prepared in sterling, which is the functional currency of the entity.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for services rendered, stated net of discounts and of Value Added Tax. When the outcome of a transaction involving the rendering of services can be reliably estimated, revenue from the rendering of services is measured by reference to the stage of completion of the service transaction at the end of the reporting period. When the outcome of a transaction involving the rendering of services cannot be reliably estimated, revenue is recognised only to the extent that expenses recognised are recoverable.
Income tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Computer Equipment
-
25% straight line
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets.
Provisions
Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense.
Financial instruments
A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Debt instruments are subsequently measured at amortised cost. Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 2 (2023: 2 ).
5. Tangible assets
Equipment
Total
£
£
Cost
At 1 February 2023 and 31 January 2024
1,960
1,960
-------
-------
Depreciation
At 1 February 2023
1,818
1,818
Charge for the year
142
142
-------
-------
At 31 January 2024
1,960
1,960
-------
-------
Carrying amount
At 31 January 2024
-------
-------
At 31 January 2023
142
142
-------
-------
6. Debtors
2024
2023
£
£
Trade debtors
247
----
----
7. Creditors: amounts falling due within one year
2024
2023
£
£
Corporation tax
1,455
Social security and other taxes
55
75
Other creditors
24,107
33,211
--------
--------
24,162
34,741
--------
--------
8. Creditors: amounts falling due after more than one year
2024
2023
£
£
Other creditors
445
----
----
9. Directors' advances, credits and guarantees
During the year, the directors paid expenses on behalf of the company of £31,679 (2023 £30,725). At the year end, the amount outstanding to the directors was £ 22,847 (2023 £31,951).