Acorah Software Products - Accounts Production 15.0.600 false true 31 December 2022 1 January 2022 false 1 January 2023 31 December 2023 31 December 2023 08708439 Mr Aweis Asghar iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 08708439 2022-12-31 08708439 2023-12-31 08708439 2023-01-01 2023-12-31 08708439 frs-core:CurrentFinancialInstruments 2023-12-31 08708439 frs-core:ComputerEquipment 2023-12-31 08708439 frs-core:ComputerEquipment 2023-01-01 2023-12-31 08708439 frs-core:ComputerEquipment 2022-12-31 08708439 frs-core:FurnitureFittings 2023-12-31 08708439 frs-core:FurnitureFittings 2023-01-01 2023-12-31 08708439 frs-core:FurnitureFittings 2022-12-31 08708439 frs-core:NetGoodwill 2023-12-31 08708439 frs-core:NetGoodwill 2023-01-01 2023-12-31 08708439 frs-core:NetGoodwill 2022-12-31 08708439 frs-core:ShareCapital 2023-12-31 08708439 frs-core:RetainedEarningsAccumulatedLosses 2023-12-31 08708439 frs-bus:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 08708439 frs-bus:FilletedAccounts 2023-01-01 2023-12-31 08708439 frs-bus:SmallEntities 2023-01-01 2023-12-31 08708439 frs-bus:AuditExempt-NoAccountantsReport 2023-01-01 2023-12-31 08708439 frs-bus:SmallCompaniesRegimeForAccounts 2023-01-01 2023-12-31 08708439 frs-bus:Director1 2023-01-01 2023-12-31 08708439 frs-countries:EnglandWales 2023-01-01 2023-12-31 08708439 2021-12-31 08708439 2022-12-31 08708439 2022-01-01 2022-12-31 08708439 frs-core:CurrentFinancialInstruments 2022-12-31 08708439 frs-core:ShareCapital 2022-12-31 08708439 frs-core:RetainedEarningsAccumulatedLosses 2022-12-31
Registered number: 08708439
ILM-Ornate Lane Ltd
Unaudited Financial Statements
For The Year Ended 31 December 2023
Unaudited Financial Statements
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—6
Page 1
Balance Sheet
Registered number: 08708439
2023 2022
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 5 40,561 29,862
40,561 29,862
CURRENT ASSETS
Debtors 6 297,653 123,747
Cash at bank and in hand 52,463 170,321
350,116 294,068
Creditors: Amounts Falling Due Within One Year 7 (65,639 ) (63,399 )
NET CURRENT ASSETS (LIABILITIES) 284,477 230,669
TOTAL ASSETS LESS CURRENT LIABILITIES 325,038 260,531
PROVISIONS FOR LIABILITIES
Deferred Taxation (9,651 ) (5,221 )
NET ASSETS 315,387 255,310
CAPITAL AND RESERVES
Called up share capital 8 108 108
Profit and Loss Account 315,279 255,202
SHAREHOLDERS' FUNDS 315,387 255,310
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For the year ending 31 December 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 Aweis Asghar
Director
16th September 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
ILM-Ornate Lane Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 08708439 . The registered office is Carlisle Business Centre, Carlisle Road, Bradford, West Yorkshire, BD8 8BD.
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. Intangible Fixed Assets and Amortisation - Goodwill
Goodwill is the difference between amounts paid on the acquisition of a business and the fair value of the separable net assets. It is amortised to profit and loss account over its estimated economic life of 20 years.
2.4. 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 25% Reducing balance
Computer Equipment 25% Reducing balance
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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 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: 86 (2022: 87)
86 87
4. Intangible Assets
Goodwill
£
Cost
As at 1 January 2023 165,000
As at 31 December 2023 165,000
Amortisation
As at 1 January 2023 165,000
As at 31 December 2023 165,000
Net Book Value
As at 31 December 2023 -
As at 1 January 2023 -
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5. Tangible Assets
Fixtures & Fittings Computer Equipment Total
£ £ £
Cost
As at 1 January 2023 46,624 24,127 70,751
Additions 9,625 10,094 19,719
As at 31 December 2023 56,249 34,221 90,470
Depreciation
As at 1 January 2023 31,218 9,671 40,889
Provided during the period 4,855 4,165 9,020
As at 31 December 2023 36,073 13,836 49,909
Net Book Value
As at 31 December 2023 20,176 20,385 40,561
As at 1 January 2023 15,406 14,456 29,862
6. Debtors
2023 2022
£ £
Due within one year
Other debtors 2,220 2,220
Director's loan account 9,574 -
Amounts owed by other participating interests 285,859 121,527
297,653 123,747
7. Creditors: Amounts Falling Due Within One Year
2023 2022
£ £
Trade creditors 3,666 10,662
Corporation tax 50,246 47,709
Net wages 2,574 -
Accruals and deferred income 9,153 4,602
Director's loan account - 426
65,639 63,399
8. Share Capital
2023 2022
£ £
Allotted, Called up and fully paid 108 108
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9. Related Party Transactions
TSQ Media LtdUnder common controlThe amount owed by the related party at the balance sheet date was £4,518 (2022: £Nil)

TSQ Media Ltd

Under common control

The amount owed by the related party at the balance sheet date was £4,518 (2022: £Nil)

TWKP C.I.C.Included within the Tuition & Education nominal, is £27,000 of expenditure to TWKP C.I.C.

TWKP C.I.C.

Included within the Tuition & Education nominal, is £27,000 of expenditure to TWKP C.I.C.

Community Led Development Initiative C.I.CIncluded within the Tuition & Education nominal, is £17,500 of expenditure to Community Led Development Initiative C.I.C.

Community Led Development Initiative C.I.C

Included within the Tuition & Education nominal, is £17,500 of expenditure to Community Led Development Initiative C.I.C.

Youqam Ventures LtdUnder common controlThe amount owed by the related party at the balance sheet date was £190,000 (2023: £Nil)

Youqam Ventures Ltd

Under common control

The amount owed by the related party at the balance sheet date was £190,000 (2023: £Nil)

Trimming You LtdUnder common controlThe amount owed by the related party at the balance sheet date was £100,377 (2022: £121,527)

Trimming You Ltd

Under common control

The amount owed by the related party at the balance sheet date was £100,377 (2022: £121,527)

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