Acorah Software Products - Accounts Production 14.5.601 false true 31 December 2022 1 January 2022 false 1 January 2023 31 December 2023 31 December 2023 07926754 Mr Cesar Mascaraque Ms Jane Thompson iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 07926754 2022-12-31 07926754 2023-12-31 07926754 2023-01-01 2023-12-31 07926754 frs-core:CurrentFinancialInstruments 2023-12-31 07926754 frs-core:ComputerEquipment 2023-12-31 07926754 frs-core:ComputerEquipment 2023-01-01 2023-12-31 07926754 frs-core:ComputerEquipment 2022-12-31 07926754 frs-core:FurnitureFittings 2023-12-31 07926754 frs-core:FurnitureFittings 2023-01-01 2023-12-31 07926754 frs-core:FurnitureFittings 2022-12-31 07926754 frs-core:ShareCapital 2023-12-31 07926754 frs-core:RetainedEarningsAccumulatedLosses 2023-12-31 07926754 frs-bus:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 07926754 frs-bus:FilletedAccounts 2023-01-01 2023-12-31 07926754 frs-bus:SmallEntities 2023-01-01 2023-12-31 07926754 frs-bus:AuditExempt-NoAccountantsReport 2023-01-01 2023-12-31 07926754 frs-bus:SmallCompaniesRegimeForAccounts 2023-01-01 2023-12-31 07926754 frs-bus:Director1 2023-01-01 2023-12-31 07926754 frs-bus:Director2 2023-01-01 2023-12-31 07926754 frs-countries:EnglandWales 2023-01-01 2023-12-31 07926754 2021-12-31 07926754 2022-12-31 07926754 2022-01-01 2022-12-31 07926754 frs-core:CurrentFinancialInstruments 2022-12-31 07926754 frs-core:ShareCapital 2022-12-31 07926754 frs-core:RetainedEarningsAccumulatedLosses 2022-12-31 07926754 frs-core:CurrentFinancialInstruments 1 2022-12-31
Registered number: 07926754
Thefusionlabs Ltd
Unaudited Financial Statements
For The Year Ended 31 December 2023
Unaudited Financial Statements
Contents
Page
Balance Sheet 1
Notes to the Financial Statements 2—3
Page 1
Balance Sheet
Registered number: 07926754
2023 2022
Notes $ $ $ $
FIXED ASSETS
CURRENT ASSETS
Debtors 5 579 2,748
Cash at bank and in hand 65,549 157,671
66,128 160,419
Creditors: Amounts Falling Due Within One Year 6 (37,520 ) (141,558 )
NET CURRENT ASSETS (LIABILITIES) 28,608 18,861
TOTAL ASSETS LESS CURRENT LIABILITIES 28,608 18,861
NET ASSETS 28,608 18,861
CAPITAL AND RESERVES
Called up share capital 7 165 165
Profit and Loss Account 28,443 18,696
SHAREHOLDERS' FUNDS 28,608 18,861
For the year ending 31 December 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 Cesar Mascaraque
Director
17/04/2024
The notes on pages 2 to 3 form part of these financial statements.
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Page 2
Notes to the Financial Statements
1. General Information
Thefusionlabs Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 07926754 . The registered office is Chancery Station House, 31-33 High Holborn, London, WC1V 6AX.
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.
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:
Fixtures & Fittings 25% Reducing balance method
Computer Equipment 25% Reducing balance method
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.
2.5. Taxation
Income tax expense represents the sum of the tax currently payable.
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.
Current 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 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: 1 (2022: 2)
1 2
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4. Tangible Assets
Fixtures & Fittings Computer Equipment Total
$ $ $
Cost
As at 1 January 2023 3,491 6,464 9,955
As at 31 December 2023 3,491 6,464 9,955
Depreciation
As at 1 January 2023 3,491 6,464 9,955
As at 31 December 2023 3,491 6,464 9,955
Net Book Value
As at 31 December 2023 - - -
As at 1 January 2023 - - -
5. Debtors
2023 2022
$ $
Due within one year
Other debtors (1) - 2,190
VAT 579 558
579 2,748
6. Creditors: Amounts Falling Due Within One Year
2023 2022
$ $
Corporation tax 2,036 3,993
PAYE 32,688 25,565
Accruals and deferred income 2,796 112,000
37,520 141,558
7. Share Capital
2023 2022
$ $
Allotted, Called up and fully paid 165 165
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