Acorah Software Products - Accounts Production 15.0.600 false true true 31 March 2023 1 April 2022 false 1 April 2023 31 March 2024 31 March 2024 09802689 Ms Sarah Gold iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 09802689 2023-03-31 09802689 2024-03-31 09802689 2023-04-01 2024-03-31 09802689 frs-core:CurrentFinancialInstruments 2024-03-31 09802689 frs-core:Non-currentFinancialInstruments 2024-03-31 09802689 frs-core:PlantMachinery 2024-03-31 09802689 frs-core:PlantMachinery 2023-04-01 2024-03-31 09802689 frs-core:PlantMachinery 2023-03-31 09802689 frs-core:ShareCapital 2024-03-31 09802689 frs-core:RetainedEarningsAccumulatedLosses 2024-03-31 09802689 frs-bus:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 09802689 frs-bus:FilletedAccounts 2023-04-01 2024-03-31 09802689 frs-bus:SmallEntities 2023-04-01 2024-03-31 09802689 frs-bus:AuditExempt-NoAccountantsReport 2023-04-01 2024-03-31 09802689 frs-bus:SmallCompaniesRegimeForAccounts 2023-04-01 2024-03-31 09802689 frs-bus:Director1 2023-04-01 2024-03-31 09802689 frs-countries:EnglandWales 2023-04-01 2024-03-31 09802689 2022-03-31 09802689 2023-03-31 09802689 2022-04-01 2023-03-31 09802689 frs-core:CurrentFinancialInstruments 2023-03-31 09802689 frs-core:Non-currentFinancialInstruments 2023-03-31 09802689 frs-core:ShareCapital 2023-03-31 09802689 frs-core:RetainedEarningsAccumulatedLosses 2023-03-31
Registered number: 09802689
Projects By IF Ltd
Unaudited Financial Statements
For The Year Ended 31 March 2024
Finerva
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 09802689
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 2,836 1,133
2,836 1,133
CURRENT ASSETS
Debtors 5 143,430 32,386
Cash at bank and in hand 44,771 304,390
188,201 336,776
Creditors: Amounts Falling Due Within One Year 6 (101,198 ) (281,513 )
NET CURRENT ASSETS (LIABILITIES) 87,003 55,263
TOTAL ASSETS LESS CURRENT LIABILITIES 89,839 56,396
Creditors: Amounts Falling Due After More Than One Year 7 (216,742 ) (226,693 )
NET LIABILITIES (126,903 ) (170,297 )
CAPITAL AND RESERVES
Called up share capital 8 10 10
Profit and Loss Account (126,913 ) (170,307 )
SHAREHOLDERS' FUNDS (126,903) (170,297)
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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 member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges her 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
Ms Sarah Gold
Director
14 October 2024
The notes on pages 3 to 5 form part of these financial statements.
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Page 3
Notes to the Financial Statements
1. General Information
Projects By IF Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 09802689 . The registered office is 27 Old Gloucester Street, London , WC1N 3AX. 
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 director believes that notwithstanding net liablilities of £126,903 the company's financial statements should be prepared on a going concern basis. Based on forecasts by the director, the director considers that current and future sources of funding or support will be more than adequate for the company's needs. In assessing going concern, the director has a reasonable expectation that the company will cotinue as a going concern and is able to meet all of its obligation as they fall due for a minimum of 12 months from thd date of approval of these financial statements. The financial statements do not inlcude any adjustments that may arise from any significant changes in the assumptions used in preparing the forecasts.
2.3. 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 rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
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.
2.4. 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:
Plant & Machinery 25% straight-line
2.5. 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.
2.6. 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.
...CONTINUED
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2.6. Taxation - continued
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.
2.7. 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
Average number of employees, including directors, during the year was as follows: 4 (2023: 4)
4 4
4. Tangible Assets
Plant & Machinery
£
Cost
As at 1 April 2023 57,804
Additions 2,504
Disposals (39,775 )
As at 31 March 2024 20,533
Depreciation
As at 1 April 2023 56,671
Provided during the period 801
Disposals (39,775 )
As at 31 March 2024 17,697
Net Book Value
As at 31 March 2024 2,836
As at 1 April 2023 1,133
5. Debtors
2024 2023
£ £
Due within one year
Trade debtors 137,892 31,238
Other debtors 5,538 1,148
143,430 32,386
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6. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 37,341 33,761
Bank loans and overdrafts 10,000 10,000
Other creditors 17,563 139,412
Taxation and social security 36,294 98,340
101,198 281,513
7. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Bank loans 11,666 21,666
Other loans 205,076 205,027
216,742 226,693
8. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 10 10
9. Pension Commitments
The company operates a defined contribution pension scheme for employees. The assets of the scheme are held separately from those of the company in an independently administered fund. At the balance sheet date unpaid contributions of £426 (2023: £169) were due to the fund. They are included in other creditors.
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