Acorah Software Products - Accounts Production 15.0.600 false true 31 January 2023 1 February 2022 false 1 February 2023 31 January 2024 31 January 2024 05685925 Mrs Nicola Kane Mr Benjamin Kane iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 05685925 2023-01-31 05685925 2024-01-31 05685925 2023-02-01 2024-01-31 05685925 frs-core:CurrentFinancialInstruments 2024-01-31 05685925 frs-core:DevelopmentCostsCapitalisedDevelopmentExpenditure 2023-02-01 2024-01-31 05685925 frs-core:FurnitureFittings 2024-01-31 05685925 frs-core:FurnitureFittings 2023-02-01 2024-01-31 05685925 frs-core:FurnitureFittings 2023-01-31 05685925 frs-core:OtherResidualIntangibleAssets 2024-01-31 05685925 frs-core:OtherResidualIntangibleAssets 2023-01-31 05685925 frs-core:ShareCapital 2024-01-31 05685925 frs-core:RetainedEarningsAccumulatedLosses 2024-01-31 05685925 frs-bus:PrivateLimitedCompanyLtd 2023-02-01 2024-01-31 05685925 frs-bus:FilletedAccounts 2023-02-01 2024-01-31 05685925 frs-bus:SmallEntities 2023-02-01 2024-01-31 05685925 frs-bus:AuditExempt-NoAccountantsReport 2023-02-01 2024-01-31 05685925 frs-bus:SmallCompaniesRegimeForAccounts 2023-02-01 2024-01-31 05685925 frs-bus:Director1 2023-02-01 2024-01-31 05685925 frs-bus:Director2 2023-02-01 2024-01-31 05685925 1 2023-02-01 2024-01-31 05685925 frs-countries:EnglandWales 2023-02-01 2024-01-31 05685925 2022-01-31 05685925 2023-01-31 05685925 2022-02-01 2023-01-31 05685925 frs-core:CurrentFinancialInstruments 2023-01-31 05685925 frs-core:ShareCapital 2023-01-31 05685925 frs-core:RetainedEarningsAccumulatedLosses 2023-01-31 05685925 1 2022-02-01 2023-01-31
Registered number: 05685925
Image Loft Limited
Unaudited Financial Statements
For The Year Ended 31 January 2024
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 05685925
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 5 10,266 11,352
10,266 11,352
CURRENT ASSETS
Debtors 6 12,440 2,974
Cash at bank and in hand 361,866 490,625
374,306 493,599
Creditors: Amounts Falling Due Within One Year 7 (259,220 ) (189,608 )
NET CURRENT ASSETS (LIABILITIES) 115,086 303,991
TOTAL ASSETS LESS CURRENT LIABILITIES 125,352 315,343
PROVISIONS FOR LIABILITIES
Deferred Taxation (2,741 ) (2,741 )
NET ASSETS 122,611 312,602
CAPITAL AND RESERVES
Called up share capital 100 100
Profit and Loss Account 122,511 312,502
SHAREHOLDERS' FUNDS 122,611 312,602
Page 1
Page 2
For the year ending 31 January 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
Mrs Nicola Kane
Director
11 October 2024
The notes on pages 3 to 5 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Image Loft Limited is a private company, limited by shares, incorporated in England & Wales, the registered number is 05685925 . The registered office is 8 Waverley Lane, Farnham, Surrey, England, GU9 8BQ.
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 value added taxes. Turnover includes revenue earned from the provision of services and is recognised at the point of invoice.
2.3. Intangible Fixed Assets and Amortisation - Other Intangible
Other intangible assets are Trademark. 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 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:
Fixtures & Fittings 15% reducing balance
2.5. Financial Instruments
Debtors and creditors which are due within one year are recorded at transaction price, less any impairment. 
2.6. Foreign Currencies
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.
2.7. Taxation
The taxation expense represents the sum of the tax currently payable and deferred tax. 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.
Current tax
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the profit and loss account 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.
...CONTINUED
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2.7. Taxation - continued
Deferred tax
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 asset reflects 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.
Deferred tax is only adjusted if the change in the timing difference is material.
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.
3. Average Number of Employees
2024 2023
Average number of employees, including directors, during the year 10 10
10 10
4. Intangible Assets
Other
£
Cost
As at 1 February 2023 745
As at 31 January 2024 745
Amortisation
As at 1 February 2023 745
As at 31 January 2024 745
Net Book Value
As at 31 January 2024 -
As at 1 February 2023 -
Page 4
Page 5
5. Tangible Assets
Fixtures & Fittings
£
Cost
As at 1 February 2023 26,176
Additions 1,524
Disposals (1,132 )
As at 31 January 2024 26,568
Depreciation
As at 1 February 2023 14,824
Provided during the period 2,275
Disposals (797 )
As at 31 January 2024 16,302
Net Book Value
As at 31 January 2024 10,266
As at 1 February 2023 11,352
6. Debtors
2024 2023
£ £
Due within one year
Trade debtors 12,440 2,974
7. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 34,603 8,578
Other creditors 140,959 110,582
Taxation and social security 83,658 70,448
259,220 189,608
Page 5