Acorah Software Products - Accounts Production 14.5.601 false true true 31 October 2022 1 November 2021 false 1 November 2022 31 October 2023 31 October 2023 12965646 Mr Ricardo Forn Palacin Mr Ian Forn Palacin Mr Ricardo Forn Mr Ian Forn iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 12965646 2022-10-31 12965646 2023-10-31 12965646 2022-11-01 2023-10-31 12965646 frs-core:CurrentFinancialInstruments 2023-10-31 12965646 frs-core:ShareCapital 2023-10-31 12965646 frs-core:RetainedEarningsAccumulatedLosses 2023-10-31 12965646 frs-bus:PrivateLimitedCompanyLtd 2022-11-01 2023-10-31 12965646 frs-bus:FilletedAccounts 2022-11-01 2023-10-31 12965646 frs-bus:SmallEntities 2022-11-01 2023-10-31 12965646 frs-bus:AuditExempt-NoAccountantsReport 2022-11-01 2023-10-31 12965646 frs-bus:SmallCompaniesRegimeForAccounts 2022-11-01 2023-10-31 12965646 frs-bus:Director1 2022-11-01 2023-10-31 12965646 frs-bus:Director2 2022-11-01 2023-10-31 12965646 frs-bus:CompanySecretary1 2022-11-01 2023-10-31 12965646 frs-bus:CompanySecretary2 2022-11-01 2023-10-31 12965646 frs-countries:EnglandWales 2022-11-01 2023-10-31 12965646 2021-10-31 12965646 2022-10-31 12965646 2021-11-01 2022-10-31 12965646 frs-core:CurrentFinancialInstruments 2022-10-31 12965646 frs-core:ShareCapital 2022-10-31 12965646 frs-core:RetainedEarningsAccumulatedLosses 2022-10-31 12965646 frs-core:CurrentFinancialInstruments 2 2022-10-31
Registered number: 12965646
Ifwines Ltd
Unaudited Financial Statements
For The Year Ended 31 October 2023
Tax and Advise Ltd
19 The Circle
Queen Elizabeth Street
London
England
SE1 2JE
Unaudited Financial Statements
Contents
Page
Balance Sheet 1
Notes to the Financial Statements 2—3
Page 1
Balance Sheet
Registered number: 12965646
2023 2022
Notes £ £ £ £
CURRENT ASSETS
Debtors 4 126 5,109
Cash at bank and in hand 25,260 83,476
25,386 88,585
Creditors: Amounts Falling Due Within One Year 5 (55,220 ) (66,719 )
NET CURRENT ASSETS (LIABILITIES) (29,834 ) 21,866
TOTAL ASSETS LESS CURRENT LIABILITIES (29,834 ) 21,866
NET (LIABILITIES)/ASSETS (29,834 ) 21,866
CAPITAL AND RESERVES
Called up share capital 6 20 20
Profit and Loss Account (29,854 ) 21,846
SHAREHOLDERS' FUNDS (29,834) 21,866
For the year ending 31 October 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 Ricardo Forn Palacin
Director
22/04/2024
The notes on pages 2 to 3 form part of these financial statements.
Page 1
Page 2
Notes to the Financial Statements
1. General Information
Ifwines Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 12965646 . The registered office is 20-22 , Wenlock Road, London, N1 7GU.
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. Foreign Currencies
Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate ruling on the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
3. Average Number of Employees
Average number of employees, including directors, during the year was: NIL (2022: NIL)
- -
4. Debtors
2023 2022
£ £
Due within one year
Prepayments and accrued income 126 -
Income in advances - 5,109
126 5,109
5. Creditors: Amounts Falling Due Within One Year
2023 2022
£ £
Trade creditors 39,206 45,842
Corporation tax - 462
VAT 11,567 19,115
Income in advance 1,447 -
Accruals and deferred income 3,000 1,300
55,220 66,719
Page 2
Page 3
6. Share Capital
2023 2022
£ £
Allotted, Called up and fully paid 20 20
Page 3