Acorah Software Products - Accounts Production 14.5.501 false true 31 July 2022 1 August 2021 false 1 August 2022 31 July 2023 31 July 2023 12123234 Mr Mehmet Bayram Mr Hasan Aydin iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 12123234 2022-07-31 12123234 2023-07-31 12123234 2022-08-01 2023-07-31 12123234 frs-core:CurrentFinancialInstruments 2023-07-31 12123234 frs-core:Non-currentFinancialInstruments 2023-07-31 12123234 frs-core:ShareCapital 2023-07-31 12123234 frs-core:RetainedEarningsAccumulatedLosses 2023-07-31 12123234 frs-bus:PrivateLimitedCompanyLtd 2022-08-01 2023-07-31 12123234 frs-bus:FilletedAccounts 2022-08-01 2023-07-31 12123234 frs-bus:SmallEntities 2022-08-01 2023-07-31 12123234 frs-bus:AuditExempt-NoAccountantsReport 2022-08-01 2023-07-31 12123234 frs-bus:SmallCompaniesRegimeForAccounts 2022-08-01 2023-07-31 12123234 frs-bus:Director1 2022-08-01 2023-07-31 12123234 frs-bus:Director2 2022-08-01 2023-07-31 12123234 frs-countries:EnglandWales 2022-08-01 2023-07-31 12123234 2021-07-31 12123234 2022-07-31 12123234 2021-08-01 2022-07-31 12123234 frs-core:CurrentFinancialInstruments 2022-07-31 12123234 frs-core:Non-currentFinancialInstruments 2022-07-31 12123234 frs-core:ShareCapital 2022-07-31 12123234 frs-core:RetainedEarningsAccumulatedLosses 2022-07-31
Registered number: 12123234
Impex Pro Limited
Unaudited Financial Statements
For The Year Ended 31 July 2023
Solid Rock Accountancy Ltd
Unaudited Financial Statements
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—4
Page 1
Balance Sheet
Registered number: 12123234
2023 2022
Notes £ £ £ £
CURRENT ASSETS
Stocks 4 350,949 -
Debtors 5 1,174,947 1,009,530
Cash at bank and in hand 1,988 10,464
1,527,884 1,019,994
Creditors: Amounts Falling Due Within One Year 6 (1,153,199 ) (786,805 )
NET CURRENT ASSETS (LIABILITIES) 374,685 233,189
TOTAL ASSETS LESS CURRENT LIABILITIES 374,685 233,189
Creditors: Amounts Falling Due After More Than One Year 7 (29,400 ) (38,524 )
NET ASSETS 345,285 194,665
CAPITAL AND RESERVES
Called up share capital 8 100 100
Profit and Loss Account 345,185 194,565
SHAREHOLDERS' FUNDS 345,285 194,665
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Page 2
For the year ending 31 July 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 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 Mehmet Bayram
Director
03/04/2024
The notes on pages 3 to 4 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Impex Pro Limited is a private company, limited by shares, incorporated in England & Wales, registered number 12123234 . The registered office is Clarence House, 35 Clarence Street, Market Harborough, Leicestershire, LE16 7NE.
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.
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. Stocks and Work in Progress
Stocks and work in progress 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. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
2.4. 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 year 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 asset reflects 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 or deferred tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 2 (2022: 2)
2 2
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Page 4
4. Stocks
2023 2022
£ £
Stock 31,456 -
Stock in transit 319,493 -
350,949 -
5. Debtors
2023 2022
£ £
Due within one year
Trade debtors 1,174,947 1,009,530
1,174,947 1,009,530
6. Creditors: Amounts Falling Due Within One Year
2023 2022
£ £
Trade creditors 1,095,177 745,736
Corporation tax 40,005 28,503
VAT 18,017 12,566
1,153,199 786,805
7. Creditors: Amounts Falling Due After More Than One Year
2023 2022
£ £
Bank loans 29,100 38,225
Directors loan account 300 299
29,400 38,524
8. Share Capital
2023 2022
£ £
Allotted, Called up and fully paid 100 100
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