Acorah Software Products - Accounts Production 15.0.600 false true true 31 December 2022 1 January 2022 false 25 September 2024 1 January 2023 31 December 2023 31 December 2023 13232479 Stephen Grant Germán Bencci true iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 13232479 2022-12-31 13232479 2023-12-31 13232479 2023-01-01 2023-12-31 13232479 frs-core:CurrentFinancialInstruments 2023-12-31 13232479 frs-core:ShareCapital 2023-12-31 13232479 frs-core:RetainedEarningsAccumulatedLosses 2023-12-31 13232479 frs-bus:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 13232479 frs-bus:FilletedAccounts 2023-01-01 2023-12-31 13232479 frs-bus:SmallEntities 2023-01-01 2023-12-31 13232479 frs-bus:Audited 2023-01-01 2023-12-31 13232479 frs-bus:SmallCompaniesRegimeForAccounts 2023-01-01 2023-12-31 13232479 1 2023-01-01 2023-12-31 13232479 frs-bus:Director1 2023-01-01 2023-12-31 13232479 frs-bus:Director2 2023-01-01 2023-12-31 13232479 frs-core:CurrentFinancialInstruments 9 2023-12-31 13232479 frs-countries:EnglandWales 2023-01-01 2023-12-31 13232479 2021-12-31 13232479 2022-12-31 13232479 2022-01-01 2022-12-31 13232479 frs-core:CurrentFinancialInstruments 2022-12-31 13232479 frs-core:ShareCapital 2022-12-31 13232479 frs-core:RetainedEarningsAccumulatedLosses 2022-12-31 13232479 frs-core:CurrentFinancialInstruments 9 2022-12-31
Registered number: 13232479
CodeYourFuture Labs Limited
Financial Statements
For The Year Ended 31 December 2023
Godfrey Wilson Limited
Fifth Floor Mariner House
62 Prince Street
Bristol
BS1 4QD
Contents
Page
Balance Sheet 1
Notes to the Financial Statements 2—4
Page 1
Balance Sheet
Registered number: 13232479
2023 2022
Notes £ £ £ £
CURRENT ASSETS
Debtors 5 156 78,535
Cash at bank and in hand 573,905 29,172
574,061 107,707
Creditors: Amounts Falling Due Within One Year 6 (573,961 ) (114,065 )
NET CURRENT ASSETS (LIABILITIES) 100 (6,358 )
TOTAL ASSETS LESS CURRENT LIABILITIES 100 (6,358 )
NET ASSETS/(LIABILITIES) 100 (6,358 )
CAPITAL AND RESERVES
Called up share capital 7 100 100
Profit and Loss Account - (6,458 )
SHAREHOLDERS' FUNDS 100 (6,358)
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
Stephen Grant
Director
24/09/2024
The notes on pages 2 to 4 form part of these financial statements.
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Notes to the Financial Statements
1. General Information
CodeYourFuture Labs Limited is a private company, limited by shares, incorporated in England & Wales, registered number 13232479 . The registered office is 69 C/O Cititec, Wilson Street, London, EC2A 2BB.
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. Going Concern Disclosure
The directors have not identified any material uncertainties related to events or conditions that may cast significant doubt about the company's ability to continue as a going concern.
2.3. 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.
2.4. Foreign Currencies
Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate ruling on the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
2.5. Taxation
The company has an obligation to pay all taxable profits to its parent charity under gift aid.
Where payment of the company's taxable profits to the parent charity falls after the reporting date, the income tax effects of that gift aid payment are still recognised at the reporting date. The income tax effects are measured consistently with the tax treatment planned to be used in the company’s income tax filings, and a deferred tax liability is not recognised in relation to such a gift aid payment. A tax expense is recognised when the distribution is not paid within nine months of year end.
2.6. Trade and other debtors
Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method, less impairment losses for bad or doubtful debts except where the effect of discounting would be immaterial. In such cases, the receivables are stated at cost less impairment losses for bad or doubtful debts.
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2.7. Trade and other creditors
Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method unless the effect of discounting would be immaterial, in which case they are stated at cost.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 2 (2022: NIL)
2 -
4. Prior Period Adjustment
Administration expenses in the prior year has been restated to show the donation to the parent charity as a distribution, in line with the requirements of FRS102.
5. Debtors
2023 2022
£ £
Due within one year
Trade debtors - 17,853
Prepayments and accrued income 156 339
Other debtors - 1,028
Amounts owed by subsidiaries - 59,315
156 78,535
6. Creditors: Amounts Falling Due Within One Year
2023 2022
£ £
Trade creditors 3,360 5,815
Corporation tax 1,615 -
Other taxes and social security 65,136 -
Deferred income 200,000 108,250
Accruals 5,100 -
Amounts owed to subsidiaries 298,750 -
573,961 114,065
7. Share Capital
2023 2022
£ £
Allotted, Called up and fully paid 100 100
8. FRC's Ethical Standard - Provision Available for Small Entities
In common with other businesses of our size and nature we use our auditors to prepare and submit returns to the tax authorities and assist with the preparation of the financial statements.
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9. Ultimate Controlling Party
The company's ultimate controlling party is Code Your Future (CYF) by virtue of his ownership of 100% of the issued share capital in the company. CodeYourFuture Labs (CYF Labs) gifted £359,992 to CYF in the year (2022: £300,000). At 31 December 2023 CYF Labs owed CYF £298,750 (2022: CYF owed CYF Labs £59,315).
10. Distributions
Distributions made from the profit and loss account comprise donations made to the company's parent charity, Code Your Future. These totalled £359,992 (2022: £300,000) during the period.
11. Audit Information
The auditors report on the account of CodeYourFuture Labs Limited for the year ended 31 December 2023 was unqualified
The auditor's report was signed by William Guy Blake ACA (Senior Statutory Auditor) for and on behalf of Godfrey Wilson Limited , Statutory Auditor
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