Acorah Software Products - Accounts Production 16.0.110 false true 31 July 2023 1 August 2022 false 1 August 2023 31 July 2024 31 July 2024 10285396 Mr Artur Iliev true iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 10285396 2023-07-31 10285396 2024-07-31 10285396 2023-08-01 2024-07-31 10285396 frs-core:CurrentFinancialInstruments 2024-07-31 10285396 frs-core:Non-currentFinancialInstruments 2024-07-31 10285396 frs-core:BetweenOneFiveYears 2024-07-31 10285396 frs-core:ComputerEquipment 2024-07-31 10285396 frs-core:ComputerEquipment 2023-08-01 2024-07-31 10285396 frs-core:ComputerEquipment 2023-07-31 10285396 frs-core:FurnitureFittings 2024-07-31 10285396 frs-core:FurnitureFittings 2023-08-01 2024-07-31 10285396 frs-core:FurnitureFittings 2023-07-31 10285396 frs-core:MotorVehicles 2024-07-31 10285396 frs-core:MotorVehicles 2023-08-01 2024-07-31 10285396 frs-core:MotorVehicles 2023-07-31 10285396 frs-core:WithinOneYear 2024-07-31 10285396 frs-core:ShareCapital 2024-07-31 10285396 frs-core:RetainedEarningsAccumulatedLosses 2024-07-31 10285396 frs-bus:PrivateLimitedCompanyLtd 2023-08-01 2024-07-31 10285396 frs-bus:FilletedAccounts 2023-08-01 2024-07-31 10285396 frs-bus:SmallEntities 2023-08-01 2024-07-31 10285396 frs-bus:AuditExempt-NoAccountantsReport 2023-08-01 2024-07-31 10285396 frs-bus:SmallCompaniesRegimeForAccounts 2023-08-01 2024-07-31 10285396 1 2023-08-01 2024-07-31 10285396 frs-bus:Director1 2023-08-01 2024-07-31 10285396 frs-countries:EnglandWales 2023-08-01 2024-07-31 10285396 2022-07-31 10285396 2023-07-31 10285396 2022-08-01 2023-07-31 10285396 frs-core:CurrentFinancialInstruments 2023-07-31 10285396 frs-core:Non-currentFinancialInstruments 2023-07-31 10285396 frs-core:BetweenOneFiveYears 2023-07-31 10285396 frs-core:MotorVehicles 2022-08-01 2023-07-31 10285396 frs-core:WithinOneYear 2023-07-31 10285396 frs-core:ShareCapital 2023-07-31 10285396 frs-core:RetainedEarningsAccumulatedLosses 2023-07-31
Registered number: 10285396
Instadecor Ltd
Unaudited Financial Statements
For The Year Ended 31 July 2024
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—6
Page 1
Balance Sheet
Registered number: 10285396
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 45,508 34,115
45,508 34,115
CURRENT ASSETS
Stocks 5 738,417 836,435
Debtors 6 514,357 531,651
Cash at bank and in hand 33,777 68,592
1,286,551 1,436,678
Creditors: Amounts Falling Due Within One Year 7 (1,141,890 ) (916,171 )
NET CURRENT ASSETS (LIABILITIES) 144,661 520,507
TOTAL ASSETS LESS CURRENT LIABILITIES 190,169 554,622
Creditors: Amounts Falling Due After More Than One Year 8 (117,873 ) (548,589 )
NET ASSETS 72,296 6,033
CAPITAL AND RESERVES
Called up share capital 11 21,682 21,682
Profit and Loss Account 50,614 (15,649 )
SHAREHOLDERS' FUNDS 72,296 6,033
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For the year ending 31 July 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 his 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 Artur Iliev
Director
4 November 2024
The notes on pages 3 to 6 form part of these financial statements.
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Notes to the Financial Statements
1. General Information
Instadecor Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 10285396 . The registered office is B2/B3 Portland Close, Houghton Regis, Bedfordshire, LU5 5AW.
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. 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:
Motor Vehicles 25% reducing balance
Fixtures & Fittings 33% straight line
Computer Equipment 33% straight line
2.4. Leasing and Hire Purchase Contracts
Assets obtained under finance leases are capitalised as tangible fixed assets. Assets acquired under finance leases are depreciated over the shorter of the lease term and their useful lives. Assets acquired under hire purchase contracts are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in the creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.

Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to profit and loss account as incurred.
2.5. Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
2.6. 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.
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2.7. 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.
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
Average number of employees, including directors, during the year was: 16 (2023: 18)
16 18
4. Tangible Assets
Motor Vehicles Fixtures & Fittings Computer Equipment Total
£ £ £ £
Cost
As at 1 August 2023 59,879 796 6,008 66,683
Additions 26,995 - - 26,995
Disposals - - (1,173 ) (1,173 )
As at 31 July 2024 86,874 796 4,835 92,505
Depreciation
As at 1 August 2023 26,197 796 5,575 32,568
Provided during the period 15,169 - 175 15,344
Disposals - - (915 ) (915 )
As at 31 July 2024 41,366 796 4,835 46,997
Net Book Value
As at 31 July 2024 45,508 - - 45,508
As at 1 August 2023 33,682 - 433 34,115
Included above are assets held under finance leases or hire purchase contracts with a net book value as follows:
2024 2023
£ £
Motor Vehicles 45,508 33,682
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5. Stocks
2024 2023
£ £
Finished goods 738,417 836,435
6. Debtors
2024 2023
£ £
Due within one year
Trade debtors 383,444 278,636
Prepayments and accrued income 30,655 160,964
Other debtors 89,730 91,154
Deferred tax current asset 5,119 897
Net wages 5,409 -
514,357 531,651
7. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Net obligations under finance lease and hire purchase contracts 24,024 14,128
Trade creditors 220,621 377,707
Bank loans and overdrafts 424,719 50,348
Corporation tax - 5,407
Other taxes and social security 19,896 13,564
VAT 414,407 156,359
Other creditors 35,473 277,826
Accruals and deferred income 2,750 20,832
1,141,890 916,171
8. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Net obligations under finance lease and hire purchase contracts 21,143 24,614
Bank loans 96,730 523,975
117,873 548,589
9. Obligations Under Finance Leases and Hire Purchase
2024 2023
£ £
The future minimum finance lease payments are as follows:
Not later than one year 24,024 14,128
Later than one year and not later than five years 21,143 24,614
45,167 38,742
45,167 38,742
10. Deferred Taxation
The provision for deferred tax is made up up of accelerated capital allowances.
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11. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 21,682 21,682
12. Ultimate Controlling Party
The company's ultimate controlling party is Mr Artur Iliev by virtue of his ownership of 100% of the issued share capital in the company.
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