Acorah Software Products - Accounts Production 16.0.110 false true 30 September 2023 1 October 2022 true No description of principal activity 1 October 2023 30 September 2024 30 September 2024 SC675623 Mrs Eirini Monemvasiou Mr Ioannis Iliadis iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure SC675623 2023-09-30 SC675623 2024-09-30 SC675623 2023-10-01 2024-09-30 SC675623 frs-core:CurrentFinancialInstruments 2024-09-30 SC675623 frs-core:ComputerEquipment 2024-09-30 SC675623 frs-core:ComputerEquipment 2023-10-01 2024-09-30 SC675623 frs-core:ComputerEquipment 2023-09-30 SC675623 frs-core:ShareCapital 2024-09-30 SC675623 frs-core:RetainedEarningsAccumulatedLosses 2024-09-30 SC675623 frs-bus:PrivateLimitedCompanyLtd 2023-10-01 2024-09-30 SC675623 frs-bus:FullAccounts 2023-10-01 2024-09-30 SC675623 frs-bus:SmallEntities 2023-10-01 2024-09-30 SC675623 frs-bus:AuditExemptWithAccountantsReport 2023-10-01 2024-09-30 SC675623 frs-bus:SmallCompaniesRegimeForAccounts 2023-10-01 2024-09-30 SC675623 frs-bus:SmallCompaniesRegimeForDirectorsReport 2023-10-01 2024-09-30 SC675623 frs-core:UnlistedNon-exchangeTraded 2024-09-30 SC675623 frs-core:UnlistedNon-exchangeTraded 2023-09-30 SC675623 frs-core:CostValuation frs-core:UnlistedNon-exchangeTraded 2023-09-30 SC675623 frs-core:AdditionsToInvestments frs-core:UnlistedNon-exchangeTraded 2024-09-30 SC675623 frs-core:CostValuation frs-core:UnlistedNon-exchangeTraded 2024-09-30 SC675623 frs-core:ProvisionsForImpairmentInvestments frs-core:UnlistedNon-exchangeTraded 2023-09-30 SC675623 frs-core:ProvisionsForImpairmentInvestments frs-core:UnlistedNon-exchangeTraded 2024-09-30 SC675623 frs-bus:Director1 2023-10-01 2024-09-30 SC675623 frs-bus:Director2 2023-10-01 2024-09-30 SC675623 frs-countries:EnglandWales 2023-10-01 2024-09-30 SC675623 2022-09-30 SC675623 2023-09-30 SC675623 2022-10-01 2023-09-30 SC675623 frs-core:CurrentFinancialInstruments 2023-09-30 SC675623 frs-core:ShareCapital 2023-09-30 SC675623 frs-core:RetainedEarningsAccumulatedLosses 2023-09-30
Registered number: SC675623
O2DESIGN CONCEPT LTD
Directors' Report and
Unaudited Financial Statements
For The Year Ended 30 September 2024
South
Contents
Page
Company Information 1
Directors' Report 2—3
Accountants' Report 4
Profit and Loss Account 5
Balance Sheet 6—7
Notes to the Financial Statements 8—10
Page 1
Company Information
Directors Mrs Eirini Monemvasiou
Mr Ioannis Iliadis
Company Number SC675623
Registered Office 272 Bath Street
Glasgow
G2 4JR
Accountants South
133 West Hendon Broadway
London
NW9 7DY
Page 1
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Directors' Report
The directors present their report and the financial statements for the year ended 30 September 2024.
Directors
The directors who held office during the year were as follows:
Mrs Eirini Monemvasiou
Mr Ioannis Iliadis
Statement of Directors' Responsibilities
The directors are responsible for preparing the Directors' Report and the financial statements in accordance with applicable law and regulations.
Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing the financial statements the directors are required to:
  • select suitable accounting policies and then apply them consistently;
  • make judgments and accounting estimates that are reasonable and prudent;
  • prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.
The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
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The directors are responsible for the maintenance and integrity of the corporate and financial information included on the company's website. Legislation in the United Kingdom governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.
Small Company Rules
This report has been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.
On behalf of the board
Mrs Eirini Monemvasiou
Director
06/11/2024
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Accountants' Report
Report to the directors on the preparation of the unaudited statutory accounts of O2DESIGN CONCEPT LTD for the year ended 30 September 2024
To assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of O2DESIGN CONCEPT LTD which comprise the Profit and Loss Account, the Balance Sheet and the related notes, from the company’s accounting records and from information and explanations you have given us.
As a practising member firm of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at http://www.accaglobal.com/en/member/professional-standards/rules-standards/acca-rulebook.html.
This report is made to the directors of O2DESIGN CONCEPT LTD , as a body, in accordance with the terms of our engagement letter dated 15 July 2022. Our work has been undertaken solely to prepare for your approval the accounts of O2DESIGN CONCEPT LTD and state those matters that we have agreed to state to the directors of O2DESIGN CONCEPT LTD , as a body, in this report in accordance with the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/content/dam/ACCA_Global/Technical/fact/technical-factsheet-163.pdf. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than O2DESIGN CONCEPT LTD and its directors as a body for our work or for this report.
It is your duty to ensure that O2DESIGN CONCEPT LTD has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit or loss of O2DESIGN CONCEPT LTD . You consider that O2DESIGN CONCEPT LTD is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit or a review of the accounts of O2DESIGN CONCEPT LTD . For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the financial statements.
Signed
AQ Accountants Limited
06/11/2024
South
133 West Hendon Broadway
London
NW9 7DY
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Profit and Loss Account
2024 2023
Notes £ £
TURNOVER 21,405 41,506
Cost of sales (16,000 ) (32,000 )
GROSS PROFIT 5,405 9,506
Administrative expenses (3,425 ) (3,275 )
Other operating income 120 211
OPERATING PROFIT AND PROFIT BEFORE TAXATION 2,100 6,442
Tax on Profit (426 ) (1,260 )
PROFIT AFTER TAXATION BEING PROFIT FOR THE FINANCIAL YEAR 1,674 5,182
The notes on pages 8 to 10 form part of these financial statements.
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Balance Sheet
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 637 777
Investments 5 4,265 -
4,902 777
CURRENT ASSETS
Debtors 6 11,257 23,764
Cash at bank and in hand 19,554 10,317
30,811 34,081
Creditors: Amounts Falling Due Within One Year 7 (873 ) (1,692 )
NET CURRENT ASSETS (LIABILITIES) 29,938 32,389
TOTAL ASSETS LESS CURRENT LIABILITIES 34,840 33,166
NET ASSETS 34,840 33,166
CAPITAL AND RESERVES
Called up share capital 8 10,000 10,000
Profit and Loss Account 24,840 23,166
SHAREHOLDERS' FUNDS 34,840 33,166
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For the year ending 30 September 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 in accordance with the provisions applicable to companies subject to the small companies regime.
On behalf of the board
Mrs Eirini Monemvasiou
Director
06/11/2024
The notes on pages 8 to 10 form part of these financial statements.
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Notes to the Financial Statements
1. General Information
O2DESIGN CONCEPT LTD is a private company, limited by shares, incorporated in England & Wales, registered number SC675623 . The registered office is 272 Bath Street, Glasgow, G2 4JR.
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:
Computer Equipment 18%
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.
...CONTINUED
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2.4. Taxation - continued
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 and deferred tax are recognised in profit or loss for the year, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case current and deferred tax are 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: NIL (2023: 2)
- 2
4. Tangible Assets
Computer Equipment
£
Cost
As at 1 October 2023 1,007
As at 30 September 2024 1,007
Depreciation
As at 1 October 2023 230
Provided during the period 140
As at 30 September 2024 370
Net Book Value
As at 30 September 2024 637
As at 1 October 2023 777
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5. Investments
Unlisted
£
Cost
As at 1 October 2023 -
Additions 4,265
As at 30 September 2024 4,265
Provision
As at 1 October 2023 -
As at 30 September 2024 -
Net Book Value
As at 30 September 2024 4,265
As at 1 October 2023 -
6. Debtors
2024 2023
£ £
Due within one year
Trade debtors 5,300 13,629
Other debtors 5,957 10,135
11,257 23,764
7. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Other creditors 450 432
Taxation and social security 423 1,260
873 1,692
8. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 10,000 10,000
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