Acorah Software Products - Accounts Production 15.0.500 false true 31 December 2022 1 January 2022 false 1 January 2023 31 December 2023 31 December 2023 10101931 Mr Joseph Adams iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 10101931 2022-12-31 10101931 2023-12-31 10101931 2023-01-01 2023-12-31 10101931 frs-core:CurrentFinancialInstruments 2023-12-31 10101931 frs-core:Non-currentFinancialInstruments 2023-12-31 10101931 frs-core:PlantMachinery 2023-12-31 10101931 frs-core:PlantMachinery 2023-01-01 2023-12-31 10101931 frs-core:PlantMachinery 2022-12-31 10101931 frs-core:ShareCapital 2023-12-31 10101931 frs-core:RetainedEarningsAccumulatedLosses 2023-12-31 10101931 frs-bus:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 10101931 frs-bus:FilletedAccounts 2023-01-01 2023-12-31 10101931 frs-bus:SmallEntities 2023-01-01 2023-12-31 10101931 frs-bus:AuditExempt-NoAccountantsReport 2023-01-01 2023-12-31 10101931 frs-bus:SmallCompaniesRegimeForAccounts 2023-01-01 2023-12-31 10101931 frs-bus:Director1 2023-01-01 2023-12-31 10101931 frs-countries:EnglandWales 2023-01-01 2023-12-31 10101931 2021-12-31 10101931 2022-12-31 10101931 2022-01-01 2022-12-31 10101931 frs-core:CurrentFinancialInstruments 2022-12-31 10101931 frs-core:Non-currentFinancialInstruments 2022-12-31 10101931 frs-core:ShareCapital 2022-12-31 10101931 frs-core:RetainedEarningsAccumulatedLosses 2022-12-31
Registered number: 10101931
Daedalus Ventures Limited
Unaudited Financial Statements
For The Year Ended 31 December 2023
AMEC Consultancy Limited
Chartered Accountants
9 Heath Way
Burton Latimer
Kettering
Northamptonshire
NN15 5YF
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 10101931
2023 2022
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 20,262 27,016
20,262 27,016
CURRENT ASSETS
Debtors 5 228,822 225,295
Cash at bank and in hand 132,495 33,570
361,317 258,865
Creditors: Amounts Falling Due Within One Year 6 (62,934 ) (70,818 )
NET CURRENT ASSETS (LIABILITIES) 298,383 188,047
TOTAL ASSETS LESS CURRENT LIABILITIES 318,645 215,063
Creditors: Amounts Falling Due After More Than One Year 7 (23,910 ) (23,950 )
NET ASSETS 294,735 191,113
CAPITAL AND RESERVES
Called up share capital 8 11,050 11,050
Profit and Loss Account 283,685 180,063
SHAREHOLDERS' FUNDS 294,735 191,113
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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 Joseph Adams
Director
6th September 2024
The notes on pages 3 to 5 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Daedalus Ventures Limited is a private company, limited by shares, incorporated in England & Wales, registered number 10101931 . The registered office is Park House, Watford Village,, Kilsby Road, Northampton, NN6 7UT.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
These financial statements have been prepared in accordance with FRS102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS102), and the requirements of the Companies Act 2006 as applicable to companiues subject to the small companies regime. The disclosure requirements of section 1A of FRS102 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. Montary 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 as fair value. The principal accounting polices 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.
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. 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 25% Reducing balance
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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: 1 (2022: 1)
1 1
4. Tangible Assets
Plant & Machinery
£
Cost
As at 1 January 2023 151,796
As at 31 December 2023 151,796
Depreciation
As at 1 January 2023 124,780
Provided during the period 6,754
As at 31 December 2023 131,534
Net Book Value
As at 31 December 2023 20,262
As at 1 January 2023 27,016
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5. Debtors
2023 2022
£ £
Due within one year
Prepayments and accrued income 44,140 40,679
Other debtors - J O Adams & Son Limited 184,616 184,616
VAT 66 -
228,822 225,295
6. Creditors: Amounts Falling Due Within One Year
2023 2022
£ £
Corporation tax 61,624 27,434
Accruals and deferred income 1,310 43,384
62,934 70,818
7. Creditors: Amounts Falling Due After More Than One Year
2023 2022
£ £
Debentures 23,910 23,950
8. Share Capital
2023 2022
£ £
Allotted, Called up and fully paid 11,050 11,050
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