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One Eye On Consulting Limited
Financial Statements
For The Year Ended 31 January 2024
TaxAssist Accountants
133 Station Road
Sidcup
DA15 7AA
Financial Statements
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 10572838
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 1,857 2,690
1,857 2,690
CURRENT ASSETS
Debtors 5 23,856 15,843
Cash at bank and in hand 19,589 24,289
43,445 40,132
Creditors: Amounts Falling Due Within One Year 6 (40,228 ) (38,021 )
NET CURRENT ASSETS (LIABILITIES) 3,217 2,111
TOTAL ASSETS LESS CURRENT LIABILITIES 5,074 4,801
PROVISIONS FOR LIABILITIES
Deferred Taxation (353 ) (511 )
NET ASSETS 4,721 4,290
CAPITAL AND RESERVES
Called up share capital 7 100 100
Profit and Loss Account 4,621 4,190
SHAREHOLDERS' FUNDS 4,721 4,290
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For the year ending 31 January 2024 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 Colin Shedden
Director
8 August 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
One Eye On Consulting Limited is a private company, limited by shares, incorporated in England & Wales, registered number 10572838 . The registered office is 133 Station Road, Sidcup, DA15 7AA.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value. The principal accounting policies adopted are set out below.
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 straight line over 4 years
Computer Equipment straight line over 3 years
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.
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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 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:
2024 2023
Office and administration 1 1
1 1
4. Tangible Assets
Fixtures & Fittings Computer Equipment Total
£ £ £
Cost
As at 1 February 2023 2,477 16,504 18,981
Additions - 1,890 1,890
As at 31 January 2024 2,477 18,394 20,871
Depreciation
As at 1 February 2023 2,130 14,161 16,291
Provided during the period 347 2,376 2,723
As at 31 January 2024 2,477 16,537 19,014
...CONTINUED
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Net Book Value
As at 31 January 2024 - 1,857 1,857
As at 1 February 2023 347 2,343 2,690
5. Debtors
2024 2023
£ £
Due within one year
Trade debtors 15,600 15,600
Prepayments and accrued income 243 243
Director's loan account 8,013 -
23,856 15,843
6. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 417 410
Corporation tax 27,865 24,566
Other taxes and social security 190 73
VAT 10,116 10,220
Accruals and deferred income 1,640 1,580
Director's loan account - 1,172
40,228 38,021
7. Share Capital
2024 2023
Allotted, called up and fully paid £ £
75 Ordinary A shares of £ 1.00 each 75 75
25 Ordinary B shares of £ 1.00 each 25 25
100 100
8. Directors Advances, Credits and Guarantees
Included within Debtors are the following loans to directors:
As at 1 February 2023 Amounts advanced Amounts repaid Amounts written off As at 31 January 2024
£ £ £ £ £
Mr Colin Shedden - 8,013 - - 8,013
The above loan is unsecured, interest free and repayable on demand.
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