Acorah Software Products - Accounts Production 15.0.600 false true 31 May 2023 1 June 2022 false 1 June 2023 31 May 2024 31 May 2024 09024485 Mr Ian Osborne iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 09024485 2023-05-31 09024485 2024-05-31 09024485 2023-06-01 2024-05-31 09024485 frs-core:CurrentFinancialInstruments 2024-05-31 09024485 frs-core:ComputerEquipment 2024-05-31 09024485 frs-core:ComputerEquipment 2023-06-01 2024-05-31 09024485 frs-core:ComputerEquipment 2023-05-31 09024485 frs-core:FurnitureFittings 2024-05-31 09024485 frs-core:FurnitureFittings 2023-06-01 2024-05-31 09024485 frs-core:FurnitureFittings 2023-05-31 09024485 frs-core:PlantMachinery 2024-05-31 09024485 frs-core:PlantMachinery 2023-06-01 2024-05-31 09024485 frs-core:PlantMachinery 2023-05-31 09024485 frs-core:ShareCapital 2024-05-31 09024485 frs-core:RetainedEarningsAccumulatedLosses 2024-05-31 09024485 frs-bus:PrivateLimitedCompanyLtd 2023-06-01 2024-05-31 09024485 frs-bus:FilletedAccounts 2023-06-01 2024-05-31 09024485 frs-bus:SmallEntities 2023-06-01 2024-05-31 09024485 frs-bus:AuditExempt-NoAccountantsReport 2023-06-01 2024-05-31 09024485 frs-bus:SmallCompaniesRegimeForAccounts 2023-06-01 2024-05-31 09024485 frs-bus:Director1 2023-06-01 2024-05-31 09024485 frs-countries:EnglandWales 2023-06-01 2024-05-31 09024485 2022-05-31 09024485 2023-05-31 09024485 2022-06-01 2023-05-31 09024485 frs-core:CurrentFinancialInstruments 2023-05-31 09024485 frs-core:ShareCapital 2023-05-31 09024485 frs-core:RetainedEarningsAccumulatedLosses 2023-05-31
Registered number: 09024485
Ian Osborne Limited
Unaudited Financial Statements
For The Year Ended 31 May 2024
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—4
Page 1
Balance Sheet
Registered number: 09024485
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 3,125 1,861
3,125 1,861
CURRENT ASSETS
Debtors 5 15,173 14,707
Cash at bank and in hand 1,924 1,744
17,097 16,451
Creditors: Amounts Falling Due Within One Year 6 (11,485 ) (8,924 )
NET CURRENT ASSETS (LIABILITIES) 5,612 7,527
TOTAL ASSETS LESS CURRENT LIABILITIES 8,737 9,388
PROVISIONS FOR LIABILITIES
Deferred Taxation (594 ) (354 )
NET ASSETS 8,143 9,034
CAPITAL AND RESERVES
Called up share capital 7 100 100
Profit and Loss Account 8,043 8,934
SHAREHOLDERS' FUNDS 8,143 9,034
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For the year ending 31 May 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 Ian Osborne
Director
13/08/2024
The notes on pages 3 to 4 form part of these financial statements.
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Notes to the Financial Statements
1. General Information
Ian Osborne Limited is a private company, limited by shares, incorporated in England & Wales, registered number 09024485 . The registered office is 91 Birbeck Road, Sidcup, Kent, DA14 4DJ.
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. 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 15% WDV
Fixtures & Fittings 15% WDV
Computer Equipment 15% WDV
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 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.
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance
sheet date.
Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from
those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that
have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the
timing difference.
Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they
will be recovered against the reversal of deferred tax liabilities or other future taxable profits.
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: 1 (2023: 1)
1 1
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4. Tangible Assets
Plant & Machinery Fixtures & Fittings Computer Equipment Total
£ £ £ £
Cost
As at 1 June 2023 754 1,000 1,741 3,495
Additions - - 1,815 1,815
As at 31 May 2024 754 1,000 3,556 5,310
Depreciation
As at 1 June 2023 971 48 615 1,634
Provided during the period (611 ) 721 441 551
As at 31 May 2024 360 769 1,056 2,185
Net Book Value
As at 31 May 2024 394 231 2,500 3,125
As at 1 June 2023 (217 ) 952 1,126 1,861
5. Debtors
2024 2023
£ £
Due within one year
Trade debtors 15,173 14,707
6. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 990 990
Corporation tax 9,653 6,987
Director's loan account 842 947
11,485 8,924
7. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 100 100
8. Related Party Transactions
Included in Other Creditors is an amount of £842 (2023 - £947) owed to the director, Mr Ian Osborne. This loan is interest free and no repayment terms have been agreed. 
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