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 12825420 Mr James Ashdown Mr Scott Bavin iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 12825420 2023-01-31 12825420 2024-01-31 12825420 2023-02-01 2024-01-31 12825420 frs-core:CurrentFinancialInstruments 2024-01-31 12825420 frs-core:ComputerEquipment 2024-01-31 12825420 frs-core:ComputerEquipment 2023-02-01 2024-01-31 12825420 frs-core:ComputerEquipment 2023-01-31 12825420 frs-core:NetGoodwill 2024-01-31 12825420 frs-core:NetGoodwill 2023-02-01 2024-01-31 12825420 frs-core:NetGoodwill 2023-01-31 12825420 frs-core:ShareCapital 2024-01-31 12825420 frs-core:RetainedEarningsAccumulatedLosses 2024-01-31 12825420 frs-bus:PrivateLimitedCompanyLtd 2023-02-01 2024-01-31 12825420 frs-bus:FilletedAccounts 2023-02-01 2024-01-31 12825420 frs-bus:SmallEntities 2023-02-01 2024-01-31 12825420 frs-bus:AuditExempt-NoAccountantsReport 2023-02-01 2024-01-31 12825420 frs-bus:SmallCompaniesRegimeForAccounts 2023-02-01 2024-01-31 12825420 frs-bus:Director1 2023-02-01 2024-01-31 12825420 frs-bus:Director2 2023-02-01 2024-01-31 12825420 frs-countries:EnglandWales 2023-02-01 2024-01-31 12825420 2022-01-31 12825420 2023-01-31 12825420 2022-02-01 2023-01-31 12825420 frs-core:CurrentFinancialInstruments 2023-01-31 12825420 frs-core:ShareCapital 2023-01-31 12825420 frs-core:RetainedEarningsAccumulatedLosses 2023-01-31
Registered number: 12825420
Fintech Digital 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: 12825420
2024 2023
Notes £ £ £ £
FIXED ASSETS
Intangible Assets 4 44,272 50,596
Tangible Assets 5 1,807 2,126
46,079 52,722
CURRENT ASSETS
Debtors 6 221 496
Cash at bank and in hand 103 356
324 852
Creditors: Amounts Falling Due Within One Year 7 (65,790 ) (65,549 )
NET CURRENT ASSETS (LIABILITIES) (65,466 ) (64,697 )
TOTAL ASSETS LESS CURRENT LIABILITIES (19,387 ) (11,975 )
PROVISIONS FOR LIABILITIES
Deferred Taxation (343 ) (229 )
NET LIABILITIES (19,730 ) (12,204 )
CAPITAL AND RESERVES
Called up share capital 8 100 100
Profit and Loss Account (19,830 ) (12,304 )
SHAREHOLDERS' FUNDS (19,730) (12,204)
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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
Mr Scott Bavin
Director
26/10/2024
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
Fintech Digital Limited is a private company, limited by shares, incorporated in England & Wales, registered number 12825420 . The registered office is Suite 1, The First Floor, The Auction House, Sevenoaks, Kent, TN13 1HJ.
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.
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:
Computer Equipment 15% WDV
2.5. 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 in respect of all timing differences that have originated but not reversed at the balance
sheet date.
Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from
those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that
have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the
timing difference.
Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they
will be recovered against the reversal of deferred tax liabilities or other future taxable profits.
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.
3. Average Number of Employees
Average number of employees, including directors, during the year was: NIL (2023: NIL)
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4. Intangible Assets
Goodwill
£
Cost
As at 1 February 2023 63,245
As at 31 January 2024 63,245
Amortisation
As at 1 February 2023 12,649
Provided during the period 6,324
As at 31 January 2024 18,973
Net Book Value
As at 31 January 2024 44,272
As at 1 February 2023 50,596
5. Tangible Assets
Computer Equipment
£
Cost
As at 1 February 2023 2,712
As at 31 January 2024 2,712
Depreciation
As at 1 February 2023 586
Provided during the period 319
As at 31 January 2024 905
Net Book Value
As at 31 January 2024 1,807
As at 1 February 2023 2,126
6. Debtors
2024 2023
£ £
Due within one year
Trade debtors - 308
Other debtors 53 -
VAT 168 188
221 496
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7. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 500 599
Directors' loan accounts 12,656 9,650
Amounts owed to related parties 52,634 55,300
65,790 65,549
8. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 100 100
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