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 06755618 David Stanley Katherine Stanley iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 06755618 2022-11-30 06755618 2023-11-30 06755618 2022-12-01 2023-11-30 06755618 frs-core:CurrentFinancialInstruments 2023-11-30 06755618 frs-core:Non-currentFinancialInstruments 2023-11-30 06755618 frs-core:PlantMachinery 2023-11-30 06755618 frs-core:PlantMachinery 2022-12-01 2023-11-30 06755618 frs-core:PlantMachinery 2022-11-30 06755618 frs-core:ShareCapital 2023-11-30 06755618 frs-core:RetainedEarningsAccumulatedLosses 2023-11-30 06755618 frs-bus:PrivateLimitedCompanyLtd 2022-12-01 2023-11-30 06755618 frs-bus:FilletedAccounts 2022-12-01 2023-11-30 06755618 frs-bus:SmallEntities 2022-12-01 2023-11-30 06755618 frs-bus:AuditExempt-NoAccountantsReport 2022-12-01 2023-11-30 06755618 frs-bus:SmallCompaniesRegimeForAccounts 2022-12-01 2023-11-30 06755618 frs-bus:Director1 2022-12-01 2023-11-30 06755618 frs-bus:Director1 2022-11-30 06755618 frs-bus:Director1 2023-11-30 06755618 frs-bus:Director2 2022-12-01 2023-11-30 06755618 frs-bus:Director2 2022-11-30 06755618 frs-bus:Director2 2023-11-30 06755618 frs-countries:EnglandWales 2022-12-01 2023-11-30 06755618 2021-11-30 06755618 2022-11-30 06755618 2021-12-01 2022-11-30 06755618 frs-core:CurrentFinancialInstruments 2022-11-30 06755618 frs-core:Non-currentFinancialInstruments 2022-11-30 06755618 frs-core:ShareCapital 2022-11-30 06755618 frs-core:RetainedEarningsAccumulatedLosses 2022-11-30
Registered number: 06755618
Iron Networks Limited
Unaudited Financial Statements
For The Year Ended 30 November 2023
Contents
Page
Statement of Financial Position 1—2
Notes to the Financial Statements 3—5
Page 1
Statement of Financial Position
Registered number: 06755618
2023 2022
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 835 1,668
835 1,668
CURRENT ASSETS
Debtors 5 68,487 99,592
Cash at bank and in hand 827 4,499
69,314 104,091
Creditors: Amounts Falling Due Within One Year 6 (45,874 ) (71,636 )
NET CURRENT ASSETS (LIABILITIES) 23,440 32,455
TOTAL ASSETS LESS CURRENT LIABILITIES 24,275 34,123
Creditors: Amounts Falling Due After More Than One Year 7 (20,584 ) (22,562 )
PROVISIONS FOR LIABILITIES
Deferred Taxation (159 ) (317 )
NET ASSETS 3,532 11,244
CAPITAL AND RESERVES
Called up share capital 8 100 100
Income Statement 3,432 11,144
SHAREHOLDERS' FUNDS 3,532 11,244
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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 members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their 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
David Stanley
Director
30/08/2024
The notes on pages 3 to 5 form part of these financial statements.
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Notes to the Financial Statements
1. General Information
Iron Networks Limited is a private company, limited by shares, incorporated in England & Wales, registered number 06755618 . The registered office is C/O Emmaus Chartered Accountants, 377-399 London Road, Camberley, Surrey, GU15 3HL.
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 recognised on the basis of when the IT support services are provided, and is recognised in the period the services are provided.
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 33.3% straight line
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 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.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 2 (2022: 2)
2 2
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4. Tangible Assets
Plant & Machinery
£
Cost
As at 1 December 2022 4,997
Disposals (577 )
As at 30 November 2023 4,420
Depreciation
As at 1 December 2022 3,329
Provided during the period 832
Disposals (576 )
As at 30 November 2023 3,585
Net Book Value
As at 30 November 2023 835
As at 1 December 2022 1,668
5. Debtors
2023 2022
£ £
Due within one year
Trade debtors - 5,940
Other debtors 68,487 93,652
68,487 99,592
6. Creditors: Amounts Falling Due Within One Year
2023 2022
£ £
Trade creditors 1,441 271
Bank loans and overdrafts 10,011 8,605
Other creditors 649 920
Taxation and social security 33,773 61,840
45,874 71,636
7. Creditors: Amounts Falling Due After More Than One Year
2023 2022
£ £
Bank loans 20,584 22,562
8. Share Capital
2023 2022
£ £
Allotted, Called up and fully paid 100 100
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9. 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 David Stanley 35,010 - 10,026 - 24,984
Mrs Katherine Stanley 35,010 - 10,026 - 24,984
The above loan is unsecured and repayable on demand.
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