Acorah Software Products - Accounts Production 14.6.300 false true 31 October 2022 1 November 2021 false 1 November 2022 31 October 2023 31 October 2023 09253214 Mr Samir Keshavji Mr Samir Keshavji iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 09253214 2022-10-31 09253214 2023-10-31 09253214 2022-11-01 2023-10-31 09253214 frs-core:CurrentFinancialInstruments 2023-10-31 09253214 frs-core:Non-currentFinancialInstruments 2023-10-31 09253214 frs-core:BetweenOneFiveYears 2023-10-31 09253214 frs-core:ComputerEquipment 2023-10-31 09253214 frs-core:ComputerEquipment 2022-11-01 2023-10-31 09253214 frs-core:ComputerEquipment 2022-10-31 09253214 frs-core:FurnitureFittings 2023-10-31 09253214 frs-core:FurnitureFittings 2022-11-01 2023-10-31 09253214 frs-core:FurnitureFittings 2022-10-31 09253214 frs-core:MotorVehicles 2023-10-31 09253214 frs-core:MotorVehicles 2022-11-01 2023-10-31 09253214 frs-core:MotorVehicles 2022-10-31 09253214 frs-core:PlantMachinery 2023-10-31 09253214 frs-core:PlantMachinery 2022-11-01 2023-10-31 09253214 frs-core:PlantMachinery 2022-10-31 09253214 frs-core:WithinOneYear 2023-10-31 09253214 frs-core:OtherReservesSubtotal 2023-10-31 09253214 frs-core:ShareCapital 2023-10-31 09253214 frs-core:RetainedEarningsAccumulatedLosses 2023-10-31 09253214 frs-bus:PrivateLimitedCompanyLtd 2022-11-01 2023-10-31 09253214 frs-bus:FilletedAccounts 2022-11-01 2023-10-31 09253214 frs-bus:SmallEntities 2022-11-01 2023-10-31 09253214 frs-bus:AuditExempt-NoAccountantsReport 2022-11-01 2023-10-31 09253214 frs-bus:SmallCompaniesRegimeForAccounts 2022-11-01 2023-10-31 09253214 frs-bus:Director1 2022-11-01 2023-10-31 09253214 frs-bus:CompanySecretary1 2022-11-01 2023-10-31 09253214 frs-core:CurrentFinancialInstruments 1 2023-10-31 09253214 frs-core:CurrentFinancialInstruments 2 2023-10-31 09253214 frs-core:CurrentFinancialInstruments 3 2023-10-31 09253214 frs-countries:EnglandWales 2022-11-01 2023-10-31 09253214 2021-10-31 09253214 2022-10-31 09253214 2021-11-01 2022-10-31 09253214 frs-core:CurrentFinancialInstruments 2022-10-31 09253214 frs-core:Non-currentFinancialInstruments 2022-10-31 09253214 frs-core:BetweenOneFiveYears 2022-10-31 09253214 frs-core:WithinOneYear 2022-10-31 09253214 frs-core:OtherReservesSubtotal 2022-10-31 09253214 frs-core:ShareCapital 2022-10-31 09253214 frs-core:RetainedEarningsAccumulatedLosses 2022-10-31 09253214 frs-core:CurrentFinancialInstruments 1 2022-10-31 09253214 frs-core:CurrentFinancialInstruments 2 2022-10-31 09253214 frs-core:CurrentFinancialInstruments 3 2022-10-31
Registered number: 09253214
Icare Enterprise Limited
Unaudited Financial Statements
For The Year Ended 31 October 2023
Taxassist Accountants
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—6
Page 1
Balance Sheet
Registered number: 09253214
2023 2022
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 105,337 108,548
105,337 108,548
CURRENT ASSETS
Stocks 5 212,035 150,354
Debtors 6 474,356 439,237
Cash at bank and in hand 320,299 333,103
1,006,690 922,694
Creditors: Amounts Falling Due Within One Year 7 (766,114 ) (712,167 )
NET CURRENT ASSETS (LIABILITIES) 240,576 210,527
TOTAL ASSETS LESS CURRENT LIABILITIES 345,913 319,075
Creditors: Amounts Falling Due After More Than One Year 8 (47,802 ) (59,086 )
PROVISIONS FOR LIABILITIES
Deferred Taxation (2,428 ) (2,428 )
NET ASSETS 295,683 257,561
CAPITAL AND RESERVES
Called up share capital 10 1 1
Other reserves (442 ) (442 )
Profit and Loss Account 296,124 258,002
SHAREHOLDERS' FUNDS 295,683 257,561
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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.
On behalf of the board
Mr Samir Keshavji
Director
30/07/2024
The notes on pages 3 to 6 form part of these financial statements.
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Notes to the Financial Statements
1. General Information
Icare Enterprise Limited is a private company, limited by shares, incorporated in England & Wales, registered number 09253214 . The registered office is Unit 5 Central Business Centre, Iron Bridge Close, Great Central Way, Wembley, London, NW10 0UR.
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:
Plant & Machinery Reducing balance method @ 25%
Motor Vehicles Reducing balance method @ 25%
Fixtures & Fittings Reducing balance method @ 25%
Computer Equipment Reducing balance method @ 33%
2.4. 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.
2.5. Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
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2.6. 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: 14 (2022: 12)
14 12
4. Tangible Assets
Plant & Machinery Motor Vehicles Fixtures & Fittings Computer Equipment Total
£ £ £ £ £
Cost
As at 1 November 2022 63,469 86,350 15,593 8,331 173,743
Additions 27,112 - - 5,895 33,007
As at 31 October 2023 90,581 86,350 15,593 14,226 206,750
Depreciation
As at 1 November 2022 27,136 21,588 12,624 3,847 65,195
Provided during the period 15,861 16,190 742 3,425 36,218
As at 31 October 2023 42,997 37,778 13,366 7,272 101,413
Net Book Value
As at 31 October 2023 47,584 48,572 2,227 6,954 105,337
As at 1 November 2022 36,333 64,762 2,969 4,484 108,548
5. Stocks
2023 2022
£ £
Finished goods 212,035 150,354
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6. Debtors
2023 2022
£ £
Due within one year
Trade debtors 308,908 353,412
Prepayments and accrued income 2,887 2,887
Other debtors-Rent deposit 5,854 12,436
VAT 75,982 70,502
Director's loan account 80,725 -
474,356 439,237
Other debtors 2 represent rent deposit.
Prepayments represent rent paid in advance.
7. Creditors: Amounts Falling Due Within One Year
2023 2022
£ £
Net obligations under finance lease and hire purchase contracts 11,283 11,283
Trade creditors 255,495 260,010
Bank loans and overdrafts 26,536 36,365
Corporation tax 29,054 17,306
Other taxes and social security 33,627 20,714
Net wages 22,504 18,261
Other creditors:Amex (Current liabilities - creditors < 1 year) 13,780 4,975
Other creditors (1):Amazon (Current liabilities - creditors < 1 year) 373,544 342,500
Other creditors (3):NEST (Current liabilities - creditors < 1 year) 291 404
Director's loan account - 349
766,114 712,167
Other creditors (4) are NHS advance receipts recoverable in 2021
8. Creditors: Amounts Falling Due After More Than One Year
2023 2022
£ £
Net obligations under finance lease and hire purchase contracts 47,802 59,086
9. Obligations Under Finance Leases and Hire Purchase
2023 2022
£ £
The future minimum finance lease payments are as follows:
Not later than one year 14,090 14,090
Later than one year and not later than five years 53,250 67,340
67,340 81,430
Less: Finance charges allocated to future periods 8,255 11,061
59,085 70,369
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10. Share Capital
2023 2022
£ £
Allotted, Called up and fully paid 1 1
11.
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