Acorah Software Products - Accounts Production 16.0.110 false true false 16 November 2022 30 November 2023 30 November 2023 SC750588 Mr Muhammad Subhan Ali iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure SC750588 2022-11-15 SC750588 2023-11-30 SC750588 2022-11-16 2023-11-30 SC750588 frs-core:CurrentFinancialInstruments 2023-11-30 SC750588 frs-core:ShareCapital 2023-11-30 SC750588 frs-core:RetainedEarningsAccumulatedLosses 2023-11-30 SC750588 frs-bus:PrivateLimitedCompanyLtd 2022-11-16 2023-11-30 SC750588 frs-bus:FilletedAccounts 2022-11-16 2023-11-30 SC750588 frs-bus:SmallEntities 2022-11-16 2023-11-30 SC750588 frs-bus:AuditExempt-NoAccountantsReport 2022-11-16 2023-11-30 SC750588 frs-bus:SmallCompaniesRegimeForAccounts 2022-11-16 2023-11-30 SC750588 frs-bus:Director1 2022-11-16 2023-11-30 SC750588 frs-countries:Scotland 2022-11-16 2023-11-30
Registered number: SC750588
IYI CONSULTANTS LIMITED
Unaudited Financial Statements
For the Period 16 November 2022 to 30 November 2023
Contents
Page
Balance Sheet 1
Notes to the Financial Statements 2—3
Page 1
Balance Sheet
Registered number: SC750588
30 November 2023
Notes £ £
CURRENT ASSETS
Debtors 4 6,250
Cash at bank and in hand 22,170
28,420
Creditors: Amounts Falling Due Within One Year 5 (18,118 )
NET CURRENT ASSETS (LIABILITIES) 10,302
TOTAL ASSETS LESS CURRENT LIABILITIES 10,302
NET ASSETS 10,302
CAPITAL AND RESERVES
Called up share capital 6 100
Profit and Loss Account 10,202
SHAREHOLDERS' FUNDS 10,302
For the period ending 30 November 2023 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.
The financial statements were approved by the board of directors on 16 November 2024 and were signed on its behalf by:
Mr Muhammad Subhan Ali
Director
16/11/2024
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
IYI CONSULTANTS LIMITED is a private company, limited by shares, incorporated in Scotland, registered number SC750588 . The registered office is 27 Camp Road, Baillieston, Glasgow, G69 6QR.
The presentation currency of the financial statements is Sterling (£).
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value. The principal accounting policies adopted are set out below.
At the time of approving the financial statements, the director has a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus the director continues to adopt the going concern basis of accounting in preparing the financial statements.
2.2. Significant judgements and estimations
The company considers on an annual basis the judgements that are made by management when applying its significant accounting policies that would have the most significant effect on amounts that are recognised in the financial statements. The director considers there are no such significant judgements.
2.3. Turnover
Turnover represents net invoiced sales fo services,  excluding value added tax. The company's policy is to recognise a sale when substantively all the risks and rewards in connection with the services have been passed to the buyer.
2.4. Financial Instruments
The company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other accounts receivable and payable and loans to and from related parties.
Debt instruments like loans and other accounts receivable and payable are intially measured at present value of the future payments and subsequently at amortised cost using the effective interest method. Debt instruments that are payable or receivable within one year, typically trade debtors and trade creditors, are measured, initially and subsequently, at the undiscounted amount of cash or other consideration expected to be paid or received.
Financial assets measured at cost and amortised cost are assessed at the end of each reporting period for evidence of impairment and if found, an impairment loss is recognised in profit or loss.
Financial liabilities are derecognised when the liability is extinguished, that is when the contractual obligation is discharged, cancelled or expires.
Cash and cash equivalents includes cash in hand, deposits held at call with banks, other short‑term highly liquid investments with original maturities of three months or less and bank overdrafts. Bank overdrafts, when applicable, are shown within borrowings in current liabilities.
2.5. Taxation
Taxation represents the sum of tax currently payable and deferred tax. 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.
The charge for taxation takes into account taxation deferred as a result of timing differences between the treatment of certain items for taxation and accounting purposes. In general, deferred taxation is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date. However, deferred tax assets are recognised only to the extent that the directors consider that it is more likely than not that there will be suitable taxable profits from which the future reversal of the underlying timing differences can be deducted. Deferred taxation is measured on a non‑discounted basis at the tax rates that are expected to apply in the periods in which the timing differences reverse, based on tax rates and laws enacted or substantively enacted at the balance sheet date.
With the exception of changes arising on the initial recognition of a business combination, the tax expense is presented either in profit or loss, other comprehensive income or statement of changes in equity depending on the transaction that resulted in the tax expense.
Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors.
Page 2
Page 3
3. Average Number of Employees
Average number of employees, including directors, during the period was: 2
2
4. Debtors
30 November 2023
£
Due within one year
Due after more than one year
Other debtors 6,250
5. Creditors: Amounts Falling Due Within One Year
30 November 2023
£
Other creditors 495
Taxation and social security 17,623
18,118
6. Share Capital
30 November 2023
£
Allotted, Called up and fully paid 100
Page 3