Acorah Software Products - Accounts Production 14.5.601 false true 31 August 2022 1 September 2021 false 1 September 2022 31 August 2023 31 August 2023 05610716 Mr Craig Parks iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 05610716 2022-08-31 05610716 2023-08-31 05610716 2022-09-01 2023-08-31 05610716 frs-core:CurrentFinancialInstruments 2023-08-31 05610716 frs-core:Non-currentFinancialInstruments 2023-08-31 05610716 frs-core:MotorVehicles 2023-08-31 05610716 frs-core:MotorVehicles 2022-09-01 2023-08-31 05610716 frs-core:MotorVehicles 2022-08-31 05610716 frs-core:ShareCapital 2023-08-31 05610716 frs-core:RetainedEarningsAccumulatedLosses 2023-08-31 05610716 frs-bus:PrivateLimitedCompanyLtd 2022-09-01 2023-08-31 05610716 frs-bus:FilletedAccounts 2022-09-01 2023-08-31 05610716 frs-bus:SmallEntities 2022-09-01 2023-08-31 05610716 frs-bus:AuditExempt-NoAccountantsReport 2022-09-01 2023-08-31 05610716 frs-bus:SmallCompaniesRegimeForAccounts 2022-09-01 2023-08-31 05610716 frs-core:DeferredTaxation 2022-09-01 2023-08-31 05610716 frs-core:DeferredTaxation 2022-08-31 05610716 frs-core:DeferredTaxation 2023-08-31 05610716 frs-bus:Director1 2022-09-01 2023-08-31 05610716 frs-countries:EnglandWales 2022-09-01 2023-08-31 05610716 2021-08-31 05610716 2022-08-31 05610716 2021-09-01 2022-08-31 05610716 frs-core:CurrentFinancialInstruments 2022-08-31 05610716 frs-core:Non-currentFinancialInstruments 2022-08-31 05610716 frs-core:ShareCapital 2022-08-31 05610716 frs-core:RetainedEarningsAccumulatedLosses 2022-08-31
Registered number: 05610716
Informed IT Solutions Limited
Unaudited Financial Statements
For The Year Ended 31 August 2023
Unaudited Financial Statements
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 05610716
2023 2022
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 27,944 1,268
27,944 1,268
CURRENT ASSETS
Debtors 5 13,516 35,264
Cash at bank and in hand 161,057 143,372
174,573 178,636
Creditors: Amounts Falling Due Within One Year 6 (45,510 ) (29,288 )
NET CURRENT ASSETS (LIABILITIES) 129,063 149,348
TOTAL ASSETS LESS CURRENT LIABILITIES 157,007 150,616
Creditors: Amounts Falling Due After More Than One Year 7 (25,833 ) (35,833 )
PROVISIONS FOR LIABILITIES
Deferred Taxation (5,309 ) (241 )
NET ASSETS 125,865 114,542
CAPITAL AND RESERVES
Called up share capital 9 100 100
Profit and Loss Account 125,765 114,442
SHAREHOLDERS' FUNDS 125,865 114,542
Page 1
Page 2
For the year ending 31 August 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his 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 Craig Parks
Director
19 April 2024
The notes on pages 3 to 5 form part of these financial statements.
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Notes to the Financial Statements
1. General Information
Informed IT Solutions Limited is a private company, limited by shares, incorporated in England & Wales, registered number 05610716 . The registered office is Hill Farm, Morley Road, Deopham, Norfolk, NR18 9DG.
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. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Motor Vehicles 25% Reducing Balance
2.4. Financial Instruments
A financial asset or a financial liability is only recognised when the entity becomes party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the amount of receivable or payable including any related transaction costs, unless the arrangement constitutes a financial 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. Current assets and current liabilties are subsequently measured at the cash or other consideration expected to be paid or received and not discounted. Debt instruments are subsequently measured at amortised cost. 
2.5. 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 years 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 assets reflect 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.
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2.6. Impairment
At each reporting date, goodwill and other tangible fixed assets and investments but excluding investment properties, are assessed to determine whether there is an indication that the carrying amount of an asset may be more than its recoverable amount and that the asset should be impaired. If there is an indication of possible impairment, the recoverable amount of an asset, which is the higher of its value in use and its net realisable value, its estmated and compared with its carrying amount. If the recoverable amount is lower, the carrying amount of the asset is written down to its estimated recoverable amount and an impairment loss is recognised in the profit and loss account. 
3. Average Number of Employees
Average number of employees, including directors, during the year was: 3 (2022: 3)
3 3
4. Tangible Assets
Motor Vehicles
£
Cost
As at 1 September 2022 9,500
Additions 35,990
As at 31 August 2023 45,490
Depreciation
As at 1 September 2022 8,232
Provided during the period 9,314
As at 31 August 2023 17,546
Net Book Value
As at 31 August 2023 27,944
As at 1 September 2022 1,268
5. Debtors
2023 2022
£ £
Due within one year
Trade debtors 13,516 10,327
Other debtors - 24,937
13,516 35,264
Included in Other debtors is the amount owed by the director to the company. Interest has been accrued on this loan. 
6. Creditors: Amounts Falling Due Within One Year
2023 2022
£ £
Trade creditors 1,334 420
Bank loans and overdrafts 10,000 10,000
Corporation tax 15,939 5,521
Other taxes and social security 721 600
VAT 7,965 8,484
Net wages 3,494 3,835
Accruals and deferred income 824 428
Director's loan account 5,233 -
45,510 29,288
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7. Creditors: Amounts Falling Due After More Than One Year
2023 2022
£ £
Bank loans 25,833 35,833
25,833 35,833
8. Provisions for Liabilities
Deferred Tax Total
£ £
As at 1 September 2022 241 241
Additions 5,068 5,068
Balance at 31 August 2023 5,309 5,309
9. Share Capital
2023 2022
£ £
Allotted, Called up and fully paid 100 100
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