Acorah Software Products - Accounts Production 14.5.601 false true true 31 March 2023 1 April 2022 false 1 April 2023 31 March 2024 31 March 2024 09081907 Mr Dominic Spencer - Churchill Mr Oliver Booth iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 09081907 2023-03-31 09081907 2024-03-31 09081907 2023-04-01 2024-03-31 09081907 frs-core:CurrentFinancialInstruments 2024-03-31 09081907 frs-core:Non-currentFinancialInstruments 2024-03-31 09081907 frs-core:ComputerEquipment 2024-03-31 09081907 frs-core:ComputerEquipment 2023-04-01 2024-03-31 09081907 frs-core:ComputerEquipment 2023-03-31 09081907 frs-core:FurnitureFittings 2024-03-31 09081907 frs-core:FurnitureFittings 2023-04-01 2024-03-31 09081907 frs-core:FurnitureFittings 2023-03-31 09081907 frs-core:NetGoodwill 2024-03-31 09081907 frs-core:NetGoodwill 2023-04-01 2024-03-31 09081907 frs-core:NetGoodwill 2023-03-31 09081907 frs-core:InvestmentPropertyIncludedWithinPPE 2024-03-31 09081907 frs-core:InvestmentPropertyIncludedWithinPPE 2023-04-01 2024-03-31 09081907 frs-core:InvestmentPropertyIncludedWithinPPE 2023-03-31 09081907 frs-core:LandBuildings frs-core:LeasedAssetsHeldAsLessee 2023-04-01 2024-03-31 09081907 frs-core:MotorVehicles 2024-03-31 09081907 frs-core:MotorVehicles 2023-04-01 2024-03-31 09081907 frs-core:MotorVehicles 2023-03-31 09081907 frs-core:ShareCapital 2024-03-31 09081907 frs-core:RetainedEarningsAccumulatedLosses 2024-03-31 09081907 frs-bus:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 09081907 frs-bus:FilletedAccounts 2023-04-01 2024-03-31 09081907 frs-bus:SmallEntities 2023-04-01 2024-03-31 09081907 frs-bus:AuditExempt-NoAccountantsReport 2023-04-01 2024-03-31 09081907 frs-bus:SmallCompaniesRegimeForAccounts 2023-04-01 2024-03-31 09081907 frs-bus:OrdinaryShareClass1 2023-04-01 2024-03-31 09081907 frs-bus:OrdinaryShareClass1 2024-03-31 09081907 frs-bus:Director1 2023-04-01 2024-03-31 09081907 frs-bus:Director2 2023-04-01 2024-03-31 09081907 frs-core:CurrentFinancialInstruments 2 2024-03-31 09081907 frs-core:CurrentFinancialInstruments 3 2024-03-31 09081907 frs-core:CurrentFinancialInstruments 4 2024-03-31 09081907 frs-countries:EnglandWales 2023-04-01 2024-03-31 09081907 2022-03-31 09081907 2023-03-31 09081907 2022-04-01 2023-03-31 09081907 frs-core:CurrentFinancialInstruments 2023-03-31 09081907 frs-core:Non-currentFinancialInstruments 2023-03-31 09081907 frs-core:ShareCapital 2023-03-31 09081907 frs-core:RetainedEarningsAccumulatedLosses 2023-03-31 09081907 frs-bus:OrdinaryShareClass1 2022-04-01 2023-03-31 09081907 frs-core:CurrentFinancialInstruments 2 2023-03-31 09081907 frs-core:CurrentFinancialInstruments 3 2023-03-31 09081907 frs-core:CurrentFinancialInstruments 4 2023-03-31
Registered number: 09081907
iLudo82 Limited
Unaudited Financial Statements
For The Year Ended 31 March 2024
Xeinadin South Wales & West Limited
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—6
Page 1
Balance Sheet
Registered number: 09081907
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 5 226,655 257,929
226,655 257,929
CURRENT ASSETS
Stocks 6 1,195 1,284
Debtors 7 97,019 92,683
Cash at bank and in hand 391,033 284,658
489,247 378,625
Creditors: Amounts Falling Due Within One Year 8 (580,498 ) (570,374 )
NET CURRENT ASSETS (LIABILITIES) (91,251 ) (191,749 )
TOTAL ASSETS LESS CURRENT LIABILITIES 135,404 66,180
Creditors: Amounts Falling Due After More Than One Year 9 (526,206 ) (644,615 )
PROVISIONS FOR LIABILITIES
Deferred Taxation (24,984 ) (41,351 )
NET LIABILITIES (415,786 ) (619,786 )
CAPITAL AND RESERVES
Called up share capital 10 100 100
Profit and Loss Account (415,886 ) (619,886 )
SHAREHOLDERS' FUNDS (415,786) (619,786)
Page 1
Page 2
For the year ending 31 March 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 Oliver Booth
Director
17/04/2024
The notes on pages 3 to 6 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
iLudo82 Limited Registered number 09081907 is a limited by shares company incorporated in England & Wales. The Registered Office is Warren House, The Salterns, Tenby, Pembrokeshire, SA70 7NJ.
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 comprises the invoiced value of goods and services supplied by the company, excluding value added tax.
2.4. 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 3 years.
2.5. Tangible Fixed Assets and Depreciation
Tangible fixed assets are stated at cost less depreciation. 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:
Leasehold 20% Straight line
Motor Vehicles 25% Reducing balance
Fixtures & Fittings 25% Straight line
Computer Equipment 33% Straight line
2.6. Leasing and Hire Purchase Contracts
Assets obtained under hire purchase contracts and 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.
2.7. Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
Page 3
Page 4
2.8. 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.
2.9. Pensions
The company operates a defined pension contribution scheme. Contributions are charged to the profit and loss account as they become payable in accordance with the rules of the scheme.
2.10. Registrar Filing Requirements
The company has taken advantage of Companies Act 2006 section 444(1) and opted not to file the profit and loss account, directors report, and notes to the financial statements relating to the profit and loss account.
3. Average Number of Employees
Average number of employees, including directors, during the year was:
2024 2023
Office and administration 3 3
Sales, marketing and distribution 16 16
19 19
4. Intangible Assets
Goodwill
£
Cost
As at 1 April 2023 10,000
As at 31 March 2024 10,000
Amortisation
As at 1 April 2023 10,000
As at 31 March 2024 10,000
Page 4
Page 5
5. Tangible Assets
Leasehold Improvements Motor Vehicles Fixtures & Fittings Computer Equipment Total
£ £ £ £ £
Cost
As at 1 April 2023 105,862 10,841 1,062,077 2,297 1,181,077
Additions - - 116,142 490 116,632
Disposals - - (13,000 ) - (13,000 )
As at 31 March 2024 105,862 10,841 1,165,219 2,787 1,284,709
Depreciation
As at 1 April 2023 105,862 7,649 809,258 379 923,148
Provided during the period - 798 146,215 893 147,906
Disposals - - (13,000 ) - (13,000 )
As at 31 March 2024 105,862 8,447 942,473 1,272 1,058,054
Net Book Value
As at 31 March 2024 - 2,394 222,746 1,515 226,655
As at 1 April 2023 - 3,192 252,819 1,918 257,929
6. Stocks
2024 2023
£ £
Stock 1,195 1,284
7. Debtors
2024 2023
£ £
Due within one year
Trade debtors 21,251 787
Prepayments and accrued income 30,200 46,328
Other debtors 45,568 45,568
97,019 92,683
8. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 85,825 54,464
Bank loans and overdrafts 10,000 10,000
Other taxes and social security 105,711 84,916
VAT 2,875 -
Net wages - 8,854
Amounts owed to connected companies 204,330 188,684
Loan to third party 159,148 218,771
Pension liability 607 -
Accrued expenses 10,802 3,485
Directors' loan accounts 1,200 1,200
580,498 570,374
Page 5
Page 6
The company has received the loan from third party. The loan is secured over the company's assets and bear interest at the fixed rate of 9%.
9. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Loan to third party > 1 year 513,706 622,115
Bank Loan 12,500 22,500
526,206 644,615
The company has received the loan from third party. The loan is secured over the company's assets and bear interest at the fixed rate of 9%.
10. Share Capital
2024 2023
Allotted, called up and fully paid £ £
1,000,000 Ordinary Shares of £ 0.0001 each 100 100
11. Related Party Transactions
As at balance sheet date, the company owed the director £1200 (2022: £1200).
Page 6