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Registered number: 7061722
Software Confidence Ltd
ABRIDGED Financial Statements
For The Year Ended 31 October 2023
Contents
Page
Abridged Balance Sheet 1—2
Notes to the Abridged Financial Statements 3—4
Page 1
Abridged Balance Sheet
Registered number: 7061722
2023 2022
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 460 1,095
460 1,095
CURRENT ASSETS
Debtors 37,189 41,994
Cash at bank and in hand 298,556 201,036
335,745 243,030
Creditors: Amounts Falling Due Within One Year 17,365 38,667
NET CURRENT ASSETS (LIABILITIES) 353,110 281,697
TOTAL ASSETS LESS CURRENT LIABILITIES 353,570 282,792
NET ASSETS 353,570 282,792
CAPITAL AND RESERVES
Called up share capital 5 20 20
Profit and Loss Account 353,550 282,772
SHAREHOLDERS' FUNDS 353,570 282,792
Page 1
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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 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.
All of the company's members have consented to the preparation of an Abridged Profit and Loss Account and an Abridged Balance Sheet for the year end 31 October 2023 in accordance with section 444(2A) of the Companies Act 2006.
On behalf of the board
Mr Michael Hogan
Director
18/07/2024
The notes on pages 3 to 4 form part of these financial statements.
Page 2
Page 3
Notes to the Abridged Financial Statements
1. General Information
Software Confidence Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 7061722 . The registered office is 6 Sworders Court, Basbow Lane, Bishop's Stortford, CM23 2TW.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements are prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective January 2015).
2.2. Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are stated at cost less depreciation. 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:
Computer Equipment 33% straight line
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
4. Tangible Assets
Total
£
Cost
As at 1 November 2022 12,288
Additions 342
As at 31 October 2023 12,630
...CONTINUED
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Depreciation
As at 1 November 2022 11,193
Provided during the period 977
As at 31 October 2023 12,170
Net Book Value
As at 31 October 2023 460
As at 1 November 2022 1,095
5. Share Capital
2023 2022
£ £
Allotted, Called up and fully paid 20 20
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