Acorah Software Products - Accounts Production 15.0.600 false true 30 November 2022 1 December 2021 false 1 December 2022 30 November 2023 30 November 2023 08788544 Mr Adrian Costiuc iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 08788544 2022-11-30 08788544 2023-11-30 08788544 2022-12-01 2023-11-30 08788544 frs-core:CurrentFinancialInstruments 2023-11-30 08788544 frs-core:Non-currentFinancialInstruments 2023-11-30 08788544 frs-core:ComputerEquipment 2023-11-30 08788544 frs-core:ComputerEquipment 2022-12-01 2023-11-30 08788544 frs-core:ComputerEquipment 2022-11-30 08788544 frs-core:FurnitureFittings 2023-11-30 08788544 frs-core:FurnitureFittings 2022-12-01 2023-11-30 08788544 frs-core:FurnitureFittings 2022-11-30 08788544 frs-core:PlantMachinery 2023-11-30 08788544 frs-core:PlantMachinery 2022-12-01 2023-11-30 08788544 frs-core:PlantMachinery 2022-11-30 08788544 frs-core:ShareCapital 2023-11-30 08788544 frs-core:RetainedEarningsAccumulatedLosses 2023-11-30 08788544 frs-bus:PrivateLimitedCompanyLtd 2022-12-01 2023-11-30 08788544 frs-bus:FilletedAccounts 2022-12-01 2023-11-30 08788544 frs-bus:SmallEntities 2022-12-01 2023-11-30 08788544 frs-bus:AuditExempt-NoAccountantsReport 2022-12-01 2023-11-30 08788544 frs-bus:SmallCompaniesRegimeForAccounts 2022-12-01 2023-11-30 08788544 frs-bus:Director1 2022-12-01 2023-11-30 08788544 frs-bus:Director1 2022-11-30 08788544 frs-bus:Director1 2023-11-30 08788544 frs-core:CurrentFinancialInstruments 1 2023-11-30 08788544 frs-core:Non-currentFinancialInstruments 1 2023-11-30 08788544 frs-core:CurrentFinancialInstruments 2 2023-11-30 08788544 frs-core:Non-currentFinancialInstruments 2 2023-11-30 08788544 frs-countries:EnglandWales 2022-12-01 2023-11-30 08788544 2021-11-30 08788544 2022-11-30 08788544 2021-12-01 2022-11-30 08788544 frs-core:CurrentFinancialInstruments 2022-11-30 08788544 frs-core:Non-currentFinancialInstruments 2022-11-30 08788544 frs-core:ShareCapital 2022-11-30 08788544 frs-core:RetainedEarningsAccumulatedLosses 2022-11-30 08788544 frs-core:CurrentFinancialInstruments 1 2022-11-30 08788544 frs-core:Non-currentFinancialInstruments 1 2022-11-30 08788544 frs-core:CurrentFinancialInstruments 2 2022-11-30 08788544 frs-core:Non-currentFinancialInstruments 2 2022-11-30
Registered number: 08788544
IDA DEVELOPMENT LTD
Unaudited Financial Statements
For The Year Ended 30 November 2023
Unaudited Financial Statements
Contents
Page
Statement of Financial Position 1—2
Notes to the Financial Statements 3—5
Page 1
Statement of Financial Position
Registered number: 08788544
2023 2022
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 3 81,803 85,473
81,803 85,473
CURRENT ASSETS
Debtors 4 307,518 261,731
Cash at bank and in hand 5,948 126,985
313,466 388,716
Creditors: Amounts Falling Due Within One Year 5 (75,995 ) (67,724 )
NET CURRENT ASSETS (LIABILITIES) 237,471 320,992
TOTAL ASSETS LESS CURRENT LIABILITIES 319,274 406,465
Creditors: Amounts Falling Due After More Than One Year 6 (25,768 ) (42,997 )
NET ASSETS 293,506 363,468
CAPITAL AND RESERVES
Called up share capital 7 100 100
Income Statement 293,406 363,368
SHAREHOLDERS' FUNDS 293,506 363,468
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For the year ending 30 November 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 Income Statement.
On behalf of the board
Mr Adrian Costiuc
Director
28/08/2024
The notes on pages 3 to 5 form part of these financial statements.
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Notes to the Financial Statements
1. Accounting Policies
1.1. 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.
1.2. 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.
1.3. 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% Written down value
Fixtures & Fittings 15% Written down value
Computer Equipment 25% Written down value
1.4. 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 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 assets reflect 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.
2. Average Number of Employees
Average number of employees, including directors, during the year was as follows: 7 (2022: 6)
7 6
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3. Tangible Assets
Plant & Machinery Fixtures & Fittings Computer Equipment Total
£ £ £ £
Cost
As at 1 December 2022 95,648 43,097 24,938 163,683
Additions 3,500 2,016 7,276 12,792
As at 30 November 2023 99,148 45,113 32,214 176,475
Depreciation
As at 1 December 2022 45,083 18,129 14,998 78,210
Provided during the period 8,110 4,048 4,304 16,462
As at 30 November 2023 53,193 22,177 19,302 94,672
Net Book Value
As at 30 November 2023 45,955 22,936 12,912 81,803
As at 1 December 2022 50,565 24,968 9,940 85,473
4. Debtors
2023 2022
£ £
Due within one year
Trade debtors 73,593 65,404
Un-expired HP interest - 987
S455 Tax recoverable 33,047 26,281
VAT 17,447 17,859
Director's loan account 111,248 79,017
235,335 189,548
Due after more than one year
Deposit for storage 450 450
Advance to subcontractors 68,796 68,796
Deposit for rent 2,937 2,937
72,183 72,183
307,518 261,731
5. Creditors: Amounts Falling Due Within One Year
2023 2022
£ £
Trade creditors 29,265 12,601
Bank loans and overdrafts 5,153 -
Corporation tax 9,889 20,489
PAYE / NI 5,155 5,097
CIS payable 13,994 15,978
Pension payable 839 677
Other creditors (Sub-Contractor's) 11,700 12,882
75,995 67,724
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6. Creditors: Amounts Falling Due After More Than One Year
2023 2022
£ £
Long term HP loan - 7,208
Barclays BBL a/c - 23653832746654 25,768 35,789
25,768 42,997
7. Share Capital
2023 2022
£ £
Allotted, Called up and fully paid 100 100
8. Directors Advances, Credits and Guarantees
Included within Debtors are the following loans to directors:
As at 1 December 2022 Amounts advanced Amounts repaid Amounts written off As at 30 November 2023
£ £ £ £ £
Mr Adrian Costiuc 79,017 81,073 48,842 - 111,248
The above loan is unsecured, interest free and repayable on demand.
9. General Information
IDA DEVELOPMENT LTD is a private company, limited by shares, incorporated in England & Wales, registered number 08788544 . The registered office is 27 Harrier Park, Northampton , Northamptonshire, NN4 0QG.
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