Acorah Software Products - Accounts Production 14.5.501 false true 31 October 2022 1 November 2021 false 1 November 2022 31 October 2023 31 October 2023 08263323 Mr Andre Bellodi iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 08263323 2022-10-31 08263323 2023-10-31 08263323 2022-11-01 2023-10-31 08263323 frs-core:CurrentFinancialInstruments 2023-10-31 08263323 frs-core:Non-currentFinancialInstruments 2023-10-31 08263323 frs-core:DevelopmentCostsCapitalisedDevelopmentExpenditure 2022-11-01 2023-10-31 08263323 frs-core:MotorVehicles 2022-11-01 2023-10-31 08263323 frs-core:OtherResidualIntangibleAssets 2023-10-31 08263323 frs-core:OtherResidualIntangibleAssets 2022-10-31 08263323 frs-core:PlantMachinery 2023-10-31 08263323 frs-core:PlantMachinery 2022-11-01 2023-10-31 08263323 frs-core:PlantMachinery 2022-10-31 08263323 frs-core:WithinOneYear 2023-10-31 08263323 frs-core:ShareCapital 2023-10-31 08263323 frs-core:RetainedEarningsAccumulatedLosses 2023-10-31 08263323 frs-bus:PrivateLimitedCompanyLtd 2022-11-01 2023-10-31 08263323 frs-bus:FilletedAccounts 2022-11-01 2023-10-31 08263323 frs-bus:SmallEntities 2022-11-01 2023-10-31 08263323 frs-bus:AuditExempt-NoAccountantsReport 2022-11-01 2023-10-31 08263323 frs-bus:SmallCompaniesRegimeForAccounts 2022-11-01 2023-10-31 08263323 frs-bus:Director1 2022-11-01 2023-10-31 08263323 frs-countries:EnglandWales 2022-11-01 2023-10-31 08263323 2021-10-31 08263323 2022-10-31 08263323 2021-11-01 2022-10-31 08263323 frs-core:CurrentFinancialInstruments 2022-10-31 08263323 frs-core:Non-currentFinancialInstruments 2022-10-31 08263323 frs-core:BetweenOneFiveYears 2022-10-31 08263323 frs-core:WithinOneYear 2022-10-31 08263323 frs-core:ShareCapital 2022-10-31 08263323 frs-core:RetainedEarningsAccumulatedLosses 2022-10-31
Registered number: 08263323
IZEN TECHNOLOGIES LTD
Unaudited Financial Statements
For The Year Ended 31 October 2023
ELM Partners
Chartered Certified Accountants & Registered Auditors
Southgate Offie Village
286a Chase Road
Soutghate
London
N14 6HF
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 08263323
2023 2022
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 5 5,146 4,184
5,146 4,184
CURRENT ASSETS
Debtors 6 70,177 68,277
Cash at bank and in hand 1,755 4,006
71,932 72,283
Creditors: Amounts Falling Due Within One Year 7 (50,446 ) (33,219 )
NET CURRENT ASSETS (LIABILITIES) 21,486 39,064
TOTAL ASSETS LESS CURRENT LIABILITIES 26,632 43,248
Creditors: Amounts Falling Due After More Than One Year 8 (9,292 ) (14,317 )
NET ASSETS 17,340 28,931
CAPITAL AND RESERVES
Called up share capital 10 100 100
Profit and Loss Account 17,240 28,831
SHAREHOLDERS' FUNDS 17,340 28,931
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Page 2
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.
On behalf of the board
Mr Andre Bellodi
Director
29/07/2024
The notes on pages 3 to 5 form part of these financial statements.
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Page 3
Notes to the Financial Statements
1. General Information
IZEN TECHNOLOGIES LTD is a private company, limited by shares, incorporated in England & Wales, registered number 08263323 . The registered office is Southgate Office Village, 286a Chase Road, Southgate, London, N14 6HF.
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.
2.3. Intangible Fixed Assets and Amortisation - Other Intangible
Other intangible assets are website development cost. It is amortised to profit and loss account over its estimated economic life of 5 years.
2.4. 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:
Plant & Machinery 20% reducing balance method
Motor Vehicles 20% reducing balance method
2.5. Leasing and Hire Purchase Contracts
Assets obtained under finance leases are capitalised as tangible fixed assets. Assets acquired under finance leases are depreciated over the shorter of the lease term and their useful lives. Assets acquired under hire purchase contracts are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in the creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.

Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to profit and loss account as incurred.
2.6. Taxation
Corporation 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.
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3. Average Number of Employees
Average number of employees, including directors, during the year was: NIL (2022: NIL)
- -
4. Intangible Assets
Other
£
Cost
As at 1 November 2022 5,000
As at 31 October 2023 5,000
Amortisation
As at 1 November 2022 5,000
As at 31 October 2023 5,000
5. Tangible Assets
Plant & Machinery
£
Cost
As at 1 November 2022 8,624
Additions 2,249
As at 31 October 2023 10,873
Depreciation
As at 1 November 2022 4,440
Provided during the period 1,287
As at 31 October 2023 5,727
Net Book Value
As at 31 October 2023 5,146
As at 1 November 2022 4,184
6. Debtors
2023 2022
£ £
Due within one year
Trade debtors 67,826 67,339
Prepayments and accrued income 2,035 622
Other debtors 316 316
70,177 68,277
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7. Creditors: Amounts Falling Due Within One Year
2023 2022
£ £
Net obligations under finance lease and hire purchase contracts 576 579
Trade creditors 3,435 1,846
Bank loans and overdrafts 4,448 4,456
Corporation tax 6,064 6,064
VAT 11,252 13,719
Accruals and deferred income 1,000 1,050
Director's loan account 23,671 5,505
50,446 33,219
8. Creditors: Amounts Falling Due After More Than One Year
2023 2022
£ £
Net obligations under finance lease and hire purchase contracts - 576
Bank loans 9,292 13,741
9,292 14,317
Included in creditors is a bounce bank loan of £13,740. The government guarantees 100% of the bounce loan and there are no fees or interest for the first 12 months. After 12 months , the interest is capped at 2.5% per year and the total amount payable must be repaid by way of 60 consecutive monthly payments (consisting of capital and interest).
9. Obligations Under Finance Leases and Hire Purchase
2023 2022
£ £
The future minimum finance lease payments are as follows:
Not later than one year 576 579
Later than one year and not later than five years - 576
576 1,155
576 1,155
10. Share Capital
2023 2022
£ £
Allotted, Called up and fully paid 100 100
11. Related Party Transactions
Included in creditors is an amount of £23,671 (2022: £5,505) due to Mr Andre Belodi, director and 100% shareholder of the company. The loan was interest free.
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