Acorah Software Products - Accounts Production 15.0.600 false true 31 March 2023 1 April 2022 false 1 April 2023 31 March 2024 31 March 2024 12180154 Ms Lara Panzini iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 12180154 2023-03-31 12180154 2024-03-31 12180154 2023-04-01 2024-03-31 12180154 frs-core:CurrentFinancialInstruments 2024-03-31 12180154 frs-core:ComputerEquipment 2024-03-31 12180154 frs-core:ComputerEquipment 2023-04-01 2024-03-31 12180154 frs-core:ComputerEquipment 2023-03-31 12180154 frs-core:ShareCapital 2024-03-31 12180154 frs-core:RetainedEarningsAccumulatedLosses 2024-03-31 12180154 frs-bus:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 12180154 frs-bus:FilletedAccounts 2023-04-01 2024-03-31 12180154 frs-bus:SmallEntities 2023-04-01 2024-03-31 12180154 frs-bus:AuditExempt-NoAccountantsReport 2023-04-01 2024-03-31 12180154 frs-bus:SmallCompaniesRegimeForAccounts 2023-04-01 2024-03-31 12180154 frs-bus:Director1 2023-04-01 2024-03-31 12180154 frs-bus:Director1 2023-03-31 12180154 frs-bus:Director1 2024-03-31 12180154 frs-countries:EnglandWales 2023-04-01 2024-03-31 12180154 2022-03-31 12180154 2023-03-31 12180154 2022-04-01 2023-03-31 12180154 frs-core:CurrentFinancialInstruments 2023-03-31 12180154 frs-core:ShareCapital 2023-03-31 12180154 frs-core:RetainedEarningsAccumulatedLosses 2023-03-31
Registered number: 12180154
International Language Experts Limited
Financial Statements
For The Year Ended 31 March 2024
5th Floor
30-31 Furnival Street
London
EC4A 1JQ
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—4
Page 1
Balance Sheet
Registered number: 12180154
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 584 958
584 958
CURRENT ASSETS
Debtors 5 9,850 852
Cash at bank and in hand 3,926 79,411
13,776 80,263
Creditors: Amounts Falling Due Within One Year 6 (5,757 ) (30,509 )
NET CURRENT ASSETS (LIABILITIES) 8,019 49,754
TOTAL ASSETS LESS CURRENT LIABILITIES 8,603 50,712
PROVISIONS FOR LIABILITIES
Deferred Taxation (110 ) (185 )
NET ASSETS 8,493 50,527
CAPITAL AND RESERVES
Called up share capital 7 100 100
Profit and Loss Account 8,393 50,427
SHAREHOLDERS' FUNDS 8,493 50,527
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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 Lara Panzini
Director
5 November 2024
The notes on pages 3 to 4 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
International Language Experts Limited is a private company, limited by shares, incorporated in England & Wales, registered number 12180154 . The registered office is Fifth Floor, 30-31 Furnival Street, London, EC4A 1JQ.
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 for professional services provided.
2.3. 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 25% straight line basis
2.4. 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.
2.5. 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 year 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 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.
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 period was 1 (2023: 1)
1 1
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4. Tangible Assets
Computer Equipment
£
Cost
As at 1 April 2023 1,873
As at 31 March 2024 1,873
Depreciation
As at 1 April 2023 915
Provided during the period 374
As at 31 March 2024 1,289
Net Book Value
As at 31 March 2024 584
As at 1 April 2023 958
5. Debtors
2024 2023
£ £
Due within one year
Prepayments and accrued income - 306
Corporation tax recoverable assets 9,850 -
Director's loan account - 546
9,850 852
6. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Corporation tax - 15,661
VAT 329 13,398
Accruals and deferred income 1,450 1,450
Director's loan account 3,978 -
5,757 30,509
7. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 100 100
8. 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
£ £ £ £ £
Ms Lara Panzini 546 - (546 ) - -
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