Acorah Software Products - Accounts Production 14.5.601 false true 31 March 2023 1 April 2022 false 1 April 2023 31 March 2024 31 March 2024 08158782 Mr Oliver Booth Mr Dominic Spencer Churchill Cold Sky Limited Cardiff, CF14 3UZ true iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 08158782 2023-03-31 08158782 2024-03-31 08158782 2023-04-01 2024-03-31 08158782 frs-core:CurrentFinancialInstruments 2024-03-31 08158782 frs-core:Non-currentFinancialInstruments 2024-03-31 08158782 frs-core:BetweenOneFiveYears 2024-03-31 08158782 frs-core:FurnitureFittings 2024-03-31 08158782 frs-core:FurnitureFittings 2023-04-01 2024-03-31 08158782 frs-core:FurnitureFittings 2023-03-31 08158782 frs-core:NetGoodwill 2024-03-31 08158782 frs-core:NetGoodwill 2023-04-01 2024-03-31 08158782 frs-core:NetGoodwill 2023-03-31 08158782 frs-core:MotorVehicles 2024-03-31 08158782 frs-core:MotorVehicles 2023-04-01 2024-03-31 08158782 frs-core:MotorVehicles 2023-03-31 08158782 frs-core:WithinOneYear 2024-03-31 08158782 frs-core:ShareCapital 2024-03-31 08158782 frs-core:RetainedEarningsAccumulatedLosses 2024-03-31 08158782 frs-bus:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 08158782 frs-bus:FilletedAccounts 2023-04-01 2024-03-31 08158782 frs-bus:SmallEntities 2023-04-01 2024-03-31 08158782 frs-bus:AuditExempt-NoAccountantsReport 2023-04-01 2024-03-31 08158782 frs-bus:SmallCompaniesRegimeForAccounts 2023-04-01 2024-03-31 08158782 1 2023-04-01 2024-03-31 08158782 frs-bus:Director1 2023-04-01 2024-03-31 08158782 frs-bus:Director1 2023-03-31 08158782 frs-bus:Director1 2024-03-31 08158782 frs-bus:Director2 2023-04-01 2024-03-31 08158782 frs-core:CurrentFinancialInstruments 1 2024-03-31 08158782 frs-core:CurrentFinancialInstruments 2 2024-03-31 08158782 frs-core:CurrentFinancialInstruments 4 2024-03-31 08158782 frs-countries:EnglandWales 2023-04-01 2024-03-31 08158782 2022-03-31 08158782 2023-03-31 08158782 2022-04-01 2023-03-31 08158782 frs-core:CurrentFinancialInstruments 2023-03-31 08158782 frs-core:Non-currentFinancialInstruments 2023-03-31 08158782 frs-core:BetweenOneFiveYears 2023-03-31 08158782 frs-core:WithinOneYear 2023-03-31 08158782 frs-core:ShareCapital 2023-03-31 08158782 frs-core:RetainedEarningsAccumulatedLosses 2023-03-31 08158782 frs-core:CurrentFinancialInstruments 1 2023-03-31 08158782 frs-core:CurrentFinancialInstruments 2 2023-03-31 08158782 frs-core:CurrentFinancialInstruments 4 2023-03-31
Registered number: 08158782
iLudo 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: 08158782
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 5 455,110 494,358
455,110 494,358
CURRENT ASSETS
Stocks 6 2,274 1,113
Debtors 7 281,414 218,561
Cash at bank and in hand 716,218 499,343
999,906 719,017
Creditors: Amounts Falling Due Within One Year 8 (408,671 ) (329,087 )
NET CURRENT ASSETS (LIABILITIES) 591,235 389,930
TOTAL ASSETS LESS CURRENT LIABILITIES 1,046,345 884,288
Creditors: Amounts Falling Due After More Than One Year 9 (247,546 ) (377,403 )
PROVISIONS FOR LIABILITIES
Deferred Taxation (97,126 ) (79,658 )
NET ASSETS 701,673 427,227
CAPITAL AND RESERVES
Called up share capital 11 1 1
Profit and Loss Account 701,672 427,226
SHAREHOLDERS' FUNDS 701,673 427,227
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
22/04/2024
The notes on pages 3 to 6 form part of these financial statements.
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Notes to the Financial Statements
1. General Information
iLudo Limited Registered number 08158782 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. Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, excluding Value Added Tax and trade discounts.
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 3 years.
2.4. 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:
Motor Vehicles 25% Reducing balance
Fixtures & Fittings 25% Straight line
2.5. 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.
2.6. 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.
2.7. 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.
...CONTINUED
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2.7. Taxation - continued
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.
2.8. 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.
2.9. 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 4
Sales, marketing and distribution 25 35
28 39
4. Intangible Assets
Goodwill
£
Cost
As at 1 April 2023 463,763
As at 31 March 2024 463,763
Amortisation
As at 1 April 2023 463,763
As at 31 March 2024 463,763
5. Tangible Assets
Motor Vehicles Fixtures & Fittings Total
£ £ £
Cost
As at 1 April 2023 99,877 1,048,126 1,148,003
Additions 15,992 164,307 180,299
Disposals (22,201 ) - (22,201 )
As at 31 March 2024 93,668 1,212,433 1,306,101
Depreciation
As at 1 April 2023 43,485 610,160 653,645
Provided during the period 13,833 191,328 205,161
Disposals (7,815 ) - (7,815 )
As at 31 March 2024 49,503 801,488 850,991
Net Book Value
As at 31 March 2024 44,165 410,945 455,110
As at 1 April 2023 56,392 437,966 494,358
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Page 5
6. Stocks
2024 2023
£ £
Stock 2,274 1,113
7. Debtors
2024 2023
£ £
Due within one year
Trade debtors 7,370 6,839
Prepayments and accrued income 20,819 23,038
Amount owed by connected companies 204,330 188,684
Directors' loan accounts 48,895 -
281,414 218,561
8. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Net obligations under finance lease and hire purchase contracts 6,433 6,433
Trade creditors 124,248 58,635
Corporation tax 122,626 (7,112 )
Other taxes and social security 11,580 8,760
Bank Loan 110,373 84,944
Other creditors 1,309 -
MGD Liability 162,173 137,192
Amounts owed to group undertaking (136,126 ) 33,074
Accrued expenses 6,055 6,055
Directors' loan accounts - 1,106
408,671 329,087
9. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Net obligations under finance lease and hire purchase contracts 1,608 8,040
Bank Loans 245,938 369,363
247,546 377,403
10. Obligations Under Finance Leases and Hire Purchase
2024 2023
£ £
The future minimum finance lease payments are as follows:
Not later than one year 6,433 6,433
Later than one year and not later than five years 1,608 8,040
8,041 14,473
8,041 14,473
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12. Directors Advances, Credits and Guarantees
Included within Debtors are the following loans to directors:
As at 1 April 2023 Amounts advanced Amounts repaid Amounts written off As at 31 March 2024
£ £ £ £ £
Mr Oliver Booth (1,106 ) 50,000 - - 48,894
The above loan is repayable within 9 months.
13. Dividends
2024 2023
£ £
On equity shares:
Interim dividend paid 40,000 44,440
14. Related Party Transactions
The debtors includes £204,330 owed by connected party Iludo 82 Ltd to the company (2023 :£188,684). The directors of Iludo Ltd are also directors of Iludo 82 Ltd.

The debtors includes £136,126 owed by connected party Cold Sky Ltd by the company (2023 : owed to £33,074). The directors of Iludo Ltd are also directors of Cold Sky Ltd.
15. Ultimate Parent Undertaking and Controlling Party
The company's immediate and ultimate parent undertaking is Cold Sky Limited . Cold Sky Limited was incorporated in England and Wales. The ultimate controlling party is Cold Sky Limited who controls 100% of the shares of iLudo Limited .
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