Acorah Software Products - Accounts Production 15.0.600 false true 31 July 2023 1 August 2022 false 1 August 2023 31 July 2024 31 July 2024 NI020584 Mr Desmond Quinn Mrs Mary Quinn iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure NI020584 2023-07-31 NI020584 2024-07-31 NI020584 2023-08-01 2024-07-31 NI020584 frs-core:CurrentFinancialInstruments 2024-07-31 NI020584 frs-core:Non-currentFinancialInstruments 2024-07-31 NI020584 frs-core:ComputerEquipment 2023-08-01 2024-07-31 NI020584 frs-core:NetGoodwill 2023-08-01 2024-07-31 NI020584 frs-core:MotorVehicles 2023-08-01 2024-07-31 NI020584 frs-core:PlantMachinery 2023-08-01 2024-07-31 NI020584 frs-core:ShareCapital 2024-07-31 NI020584 frs-core:RetainedEarningsAccumulatedLosses 2024-07-31 NI020584 frs-bus:PrivateLimitedCompanyLtd 2023-08-01 2024-07-31 NI020584 frs-bus:FilletedAccounts 2023-08-01 2024-07-31 NI020584 frs-bus:SmallEntities 2023-08-01 2024-07-31 NI020584 frs-bus:AuditExempt-NoAccountantsReport 2023-08-01 2024-07-31 NI020584 frs-bus:SmallCompaniesRegimeForAccounts 2023-08-01 2024-07-31 NI020584 frs-bus:Director1 2023-08-01 2024-07-31 NI020584 frs-bus:Director1 2023-07-31 NI020584 frs-bus:Director1 2024-07-31 NI020584 frs-bus:Director2 2023-08-01 2024-07-31 NI020584 frs-countries:NorthernIreland 2023-08-01 2024-07-31 NI020584 2022-07-31 NI020584 2023-07-31 NI020584 2022-08-01 2023-07-31 NI020584 frs-core:CurrentFinancialInstruments 2023-07-31 NI020584 frs-core:Non-currentFinancialInstruments 2023-07-31 NI020584 frs-core:BetweenOneFiveYears 2023-07-31 NI020584 frs-core:ShareCapital 2023-07-31 NI020584 frs-core:RetainedEarningsAccumulatedLosses 2023-07-31
Registered number: NI020584
Eolian Limited
Unaudited Financial Statements
For The Year Ended 31 July 2024
CG Accounts
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—4
Page 1
Balance Sheet
Registered number: NI020584
2024 2023
Notes £ £ £ £
FIXED ASSETS
Intangible Assets 4 - (97,733 )
Tangible Assets - 37,031
- (60,702 )
CURRENT ASSETS
Debtors 5 10 80,136
Cash at bank and in hand 95,198 166,584
95,208 246,720
Creditors: Amounts Falling Due Within One Year 6 - (119,921 )
NET CURRENT ASSETS (LIABILITIES) 95,208 126,799
TOTAL ASSETS LESS CURRENT LIABILITIES 95,208 66,097
Creditors: Amounts Falling Due After More Than One Year 7 - (56,438 )
NET ASSETS 95,208 9,659
CAPITAL AND RESERVES
Called up share capital 9 10 10
Profit and Loss Account 72,695 9,649
SHAREHOLDERS' FUNDS 72,705 9,659
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For the year ending 31 July 2024 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 Profit and Loss Account.
On behalf of the board
Mr Desmond Quinn
Director
30/09/2024
The notes on pages 3 to 4 form part of these financial statements.
Page 2
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Notes to the Financial Statements
1. General Information
Eolian Limited is a private company, limited by shares, incorporated in Northern Ireland, registered number NI020584 . The registered office is 29 Springmount Road, Ballygowan, Newtownards, BT23 6NF.
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 .... 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:
Plant & Machinery 10% Reducing Balance
Motor Vehicles 18% Reducing Balance
Computer Equipment 20% Reducing Balance
2.5. Leasing and Hire Purchase Contracts
Assets obtained under finance leases are capitalised as tangible fixed assets. Assets acquired under finance leases are depreciated over the shorter of the lease term and their useful lives. Assets acquired under hire purchase contracts are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in the creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.

Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to profit and loss account as incurred.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 8 (2023: 8)
8 8
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5. Debtors
2024 2023
£ £
Due within one year
Trade debtors - (223 )
Prepayments and accrued income - 1,458
Other debtors 10 10
VAT - 1,396
Net wages - 1,905
Directors' loan accounts - 63,500
Amounts owed by other participating interests - 12,090
10 80,136
6. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors - 86,836
Corporation tax - 12
Other creditors - 28,392
Accruals and deferred income - 4,681
- 119,921
7. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Net obligations under finance lease and hire purchase contracts - 11,762
Bank loans - 44,676
- 56,438
8. Obligations Under Finance Leases and Hire Purchase
2024 2023
£ £
The future minimum finance lease payments are as follows:
Later than one year and not later than five years - 11,762
9. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 10 10
10. Directors Advances, Credits and Guarantees
Included within Debtors are the following loans to directors:
As at 1 August 2023 Amounts advanced Amounts repaid Amounts written off As at 31 July 2024
£ £ £ £ £
Mr Desmond Quinn 30,000 - - - 30,000
The above loan is unsecured, interest free and repayable on demand.
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