Registered number
04547144
Isode Limited
Filleted Accounts
31 December 2023
Isode Limited
Registered number: 04547144
Balance Sheet
as at 31 December 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 4 26,423 31,545
26,423 31,545
Current assets
Debtors 5 1,200,339 1,314,962
Cash at bank and in hand 4,499,015 3,697,394
5,699,354 5,012,356
Creditors: amounts falling due within one year 6 (3,790,659) (3,122,139)
Net current assets 1,908,695 1,890,217
Total assets less current liabilities 1,935,118 1,921,762
Net assets 1,935,118 1,921,762
Capital and reserves
Called up share capital 24,715 24,715
Share premium 6,600 6,600
Profit and loss account 1,903,803 1,890,447
Shareholders' funds 1,935,118 1,921,762
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Steve Kille
Director
Approved by the board on 16 September 2024
Isode Limited
Notes to the Accounts
for the year ended 31 December 2023
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover represents the value, net of value added tax and discounts, of goods and services provided to customers during the period. Support and maintenance income is recognised in the profit and loss account over the period of the contract. Any such income which relates to future accounting periods is deferred and shown in creditors as deferred income.
Research and development
Development expenditure is written off to the profit and loss account in the period in which it is incurred.
Intangible fixed assets
Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Leasehold Improvements over 5 years
Plant and machinery over 3 years
Fixtures, fittings, tools and equipment over 5 years
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price).
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
Leased assets
Operating lease payments are recognised as an expense on a straight line basis over the lease term.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 42 40
3 Intangible fixed assets £
Cost
At 1 January 2023 30,000
Additions -
Disposals -
At 31 December 2023 30,000
Amortisation
At 1 January 2023 30,000
Provided during the year -
On disposals -
At 31 December 2023 30,000
Net book value
At 31 December 2023 -
At 31 December 2022 -
Acquired IPR is being written off in equal annual instalments over its estimated economic life of 5 years.
4 Tangible fixed assets
Leasehold Improvements Plant and machinery etc Total
£ £ £
Cost
At 1 January 2023 95,235 484,023 579,258
Additions - 19,696 19,696
Surplus on revaluation - - -
Disposals - - -
At 31 December 2023 95,235 503,719 598,954
Depreciation
At 1 January 2023 95,235 452,478 547,713
Charge for the year - 24,818 24,818
Surplus on revaluation - - -
On disposals - - -
At 31 December 2023 95,235 477,296 572,531
Net book value
At 31 December 2023 - 26,423 26,423
At 31 December 2022 - 31,545 31,545
5 Debtors 2023 2022
£ £
Trade debtors 523,525 919,185
Corporation tax repayable 582,484 339,633
Other debtors 94,330 56,144
1,200,339 1,314,962
Amounts due after more than one year included above - -
6 Creditors: amounts falling due within one year 2023 2022
£ £
Trade creditors 116,573 94,779
Other creditors 3,674,086 3,027,360
3,790,659 3,122,139
7 Other financial commitments 2023 2022
£ £
Total future minimum payments under non-cancellable operating leases 922,810 113,235
8 Other information
Isode Limited is a private company limited by shares and incorporated in England. Its registered office is:
14 Castle Mews
Hampton
TW12 2NP
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