Registered number
10722849
Ex Novo Software Consultancy Ltd
Filleted Accounts
31 January 2024
Ex Novo Software Consultancy Ltd
Registered number: 10722849
Balance Sheet
as at 31 January 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 1,118 1,397
Current assets
Debtors 4 295 48
Cash at bank and in hand 248,141 263,128
248,436 263,176
Creditors: amounts falling due within one year 5 (18,661) (76,847)
Net current assets 229,775 186,329
Net assets 230,893 187,726
Capital and reserves
Called up share capital 100 100
Profit and loss account 230,793 187,626
Shareholder's funds 230,893 187,726
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Mr Ertugrul Yanmaz
Director
Approved by the board on 12 March 2024
Ex Novo Software Consultancy Ltd
Notes to the Accounts
for the year ended 31 January 2024
1 Accounting policies
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 from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. 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.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Freehold buildings over 50 years
Leasehold land and buildings over the lease term
Plant and machinery over 5 years
Fixtures, fittings, tools and equipment over 5 years
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 1 1
3 Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 February 2023 3,382
At 31 January 2024 3,382
Depreciation
At 1 February 2023 1,985
Charge for the year 279
At 31 January 2024 2,264
Net book value
At 31 January 2024 1,118
At 31 January 2023 1,397
4 Debtors 2024 2023
£ £
PAYE and NI 137 -
VAT (Repayment) 106 -
Prepayments 52 48
295 48
5 Creditors: amounts falling due within one year 2024 2023
£ £
Suppliers 532 413
Taxation and social security costs 10,508 35,763
Director's account 7,621 1
Ertugrul Yanmaz - 900
Proposed dividends - 39,770
18,661 76,847
Events after the reporting date
6
Pension commitments
7
Contingent liabilities
8
Off-balance sheet arrangements
9
Loans to directors
Related party transactions
10
Controlling party
11
Other information
12
Ex Novo Software Consultancy Ltd is a private company limited by shares and incorporated in England. Its registered office is:
565 Green Lanes
Haringey
London
N8 0RL
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