Acorah Software Products - Accounts Production 16.0.110 false true 31 January 2023 1 February 2022 false 1 February 2023 31 January 2024 31 January 2024 12423382 Jonathan Hawkins Travis Johnson iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 12423382 2023-01-31 12423382 2024-01-31 12423382 2023-02-01 2024-01-31 12423382 frs-core:CurrentFinancialInstruments 2024-01-31 12423382 frs-core:ShareCapital 2024-01-31 12423382 frs-core:RetainedEarningsAccumulatedLosses 2024-01-31 12423382 frs-bus:PrivateLimitedCompanyLtd 2023-02-01 2024-01-31 12423382 frs-bus:FilletedAccounts 2023-02-01 2024-01-31 12423382 frs-bus:SmallEntities 2023-02-01 2024-01-31 12423382 frs-bus:AuditExempt-NoAccountantsReport 2023-02-01 2024-01-31 12423382 frs-bus:SmallCompaniesRegimeForAccounts 2023-02-01 2024-01-31 12423382 frs-bus:Director1 2023-02-01 2024-01-31 12423382 frs-bus:Director2 2023-02-01 2024-01-31 12423382 frs-core:CurrentFinancialInstruments 1 2024-01-31 12423382 frs-countries:EnglandWales 2023-02-01 2024-01-31 12423382 2022-01-31 12423382 2023-01-31 12423382 2022-02-01 2023-01-31 12423382 frs-core:CurrentFinancialInstruments 2023-01-31 12423382 frs-core:ShareCapital 2023-01-31 12423382 frs-core:RetainedEarningsAccumulatedLosses 2023-01-31 12423382 frs-core:CurrentFinancialInstruments 1 2023-01-31
Registered number: 12423382
PODEAN LTD
Unaudited Financial Statements
For The Year Ended 31 January 2024
Wizz Accounting Ltd
Contents
Page
Balance Sheet 1
Notes to the Financial Statements 2—3
Page 1
Balance Sheet
Registered number: 12423382
2024 2023
Notes £ £ £ £
CURRENT ASSETS
Debtors 4 815,798 377,935
Cash at bank and in hand 92,552 12,230
908,350 390,165
Creditors: Amounts Falling Due Within One Year 5 (435,238 ) (51,583 )
NET CURRENT ASSETS (LIABILITIES) 473,112 338,582
TOTAL ASSETS LESS CURRENT LIABILITIES 473,112 338,582
NET ASSETS 473,112 338,582
CAPITAL AND RESERVES
Called up share capital 6 200 200
Profit and Loss Account 472,912 338,382
SHAREHOLDERS' FUNDS 473,112 338,582
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
Jonathan Hawkins
Director
28 October 2024
The notes on pages 2 to 3 form part of these financial statements.
Page 1
Page 2
Notes to the Financial Statements
1. General Information
PODEAN LTD is a private company, limited by shares, incorporated in England & Wales, registered number 12423382 . The registered office is 128 City Road, London, EC1V 2NX.
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. Foreign Currencies
Monetary 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.
2.4. 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.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 5 (2023: 4)
5 4
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Page 3
4. Debtors
2024 2023
£ £
Due within one year
Trade debtors 64,646 45,542
Prepayments and accrued income 508 -
Other debtors 35 35
Due from Podean LLC 750,609 332,358
815,798 377,935
5. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Corporation tax 42,804 22,021
Other taxes and social security 10,352 5,568
VAT 8,305 7,260
Other creditors 1,401 387
Due to Podean LLC 276,029 -
Accruals and deferred income 96,250 16,250
Directors' loan accounts 97 97
435,238 51,583
6. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 200 200
7. Related Party Transactions
Podean Ltd and Podean LLC are under common control. The year end debtor and creditor balances are stated above.
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