Acorah Software Products - Accounts Production 16.0.110 false true 28 February 2023 1 March 2022 false 1 March 2023 28 February 2024 28 February 2024 09455016 Mrs Alexandra Nicoletti iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 09455016 2023-02-28 09455016 2024-02-28 09455016 2023-03-01 2024-02-28 09455016 frs-core:CurrentFinancialInstruments 2024-02-28 09455016 frs-core:Non-currentFinancialInstruments 2024-02-28 09455016 frs-core:DevelopmentCostsCapitalisedDevelopmentExpenditure 2024-02-28 09455016 frs-core:DevelopmentCostsCapitalisedDevelopmentExpenditure 2023-03-01 2024-02-28 09455016 frs-core:DevelopmentCostsCapitalisedDevelopmentExpenditure 2023-02-28 09455016 frs-core:FurnitureFittings 2024-02-28 09455016 frs-core:FurnitureFittings 2023-03-01 2024-02-28 09455016 frs-core:FurnitureFittings 2023-02-28 09455016 frs-core:ShareCapital 2024-02-28 09455016 frs-core:RetainedEarningsAccumulatedLosses 2024-02-28 09455016 frs-bus:PrivateLimitedCompanyLtd 2023-03-01 2024-02-28 09455016 frs-bus:FilletedAccounts 2023-03-01 2024-02-28 09455016 frs-bus:SmallEntities 2023-03-01 2024-02-28 09455016 frs-bus:AuditExempt-NoAccountantsReport 2023-03-01 2024-02-28 09455016 frs-bus:SmallCompaniesRegimeForAccounts 2023-03-01 2024-02-28 09455016 frs-bus:Director1 2023-03-01 2024-02-28 09455016 frs-countries:EnglandWales 2023-03-01 2024-02-28 09455016 2022-02-28 09455016 2023-02-28 09455016 2022-03-01 2023-02-28 09455016 frs-core:CurrentFinancialInstruments 2023-02-28 09455016 frs-core:Non-currentFinancialInstruments 2023-02-28 09455016 frs-core:ShareCapital 2023-02-28 09455016 frs-core:RetainedEarningsAccumulatedLosses 2023-02-28
Registered number: 09455016
Lil'ollo Limited
Unaudited Financial Statements
For The Year Ended 28 February 2024
Nigel Ricks & Company Ltd
Chartered Accountants
42 Glebe Street
Loughborough
Leicestershire
LE11 1JR
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 09455016
2024 2023
Notes £ £ £ £
FIXED ASSETS
Intangible Assets 4 19,967 24,958
19,967 24,958
CURRENT ASSETS
Stocks 6 - 915
Cash at bank and in hand 288 1,784
288 2,699
Creditors: Amounts Falling Due Within One Year 7 (37,731 ) (35,465 )
NET CURRENT ASSETS (LIABILITIES) (37,443 ) (32,766 )
TOTAL ASSETS LESS CURRENT LIABILITIES (17,476 ) (7,808 )
Creditors: Amounts Falling Due After More Than One Year 8 (1,599 ) (3,210 )
NET LIABILITIES (19,075 ) (11,018 )
CAPITAL AND RESERVES
Called up share capital 9 1 1
Profit and Loss Account (19,076 ) (11,019 )
SHAREHOLDERS' FUNDS (19,075) (11,018)
Page 1
Page 2
For the year ending 28 February 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
Mrs Alexandra Nicoletti
Director
22nd November 2024
The notes on pages 3 to 5 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Lil'ollo Limited is a private company, limited by shares, incorporated in England & Wales, registered number 09455016 . The registered office is 42 Glebe Street, Loughborough, Leicestershire, LE11 1JR.
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. Research and Development
In the research phase of an internal project it is not possible to demonstrate that the project will generate future economic benefits and hence all expenditure on research is recognised as an expense when it is incurred. Intangible assets are recognised from the development phase of a project if and only if certain specific criteria are met in order to demonstrate the asset will generate probable future economic benefits and that its cost can be reliably measured. The capitalised development costs are subsequently amortised to ... on a straight line basis over their expected useful economic lives, which range from ... to ... years.
If it is not possible to distinguish between the research phase and the development phase of an internal project the expenditure is treated as if it were all incurred in the research phase only.
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:
Fixtures & Fittings 25% straight line basis
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.
3. Average Number of Employees
Average number of employees, including directors, during the year was:
2024 2023
Office and administration 1 1
1 1
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Page 4
4. Intangible Assets
Development Costs
£
Cost
As at 1 March 2023 49,914
As at 28 February 2024 49,914
Amortisation
As at 1 March 2023 24,956
Provided during the period 4,991
As at 28 February 2024 29,947
Net Book Value
As at 28 February 2024 19,967
As at 1 March 2023 24,958
5. Tangible Assets
Fixtures & Fittings
£
Cost
As at 1 March 2023 2,138
As at 28 February 2024 2,138
Depreciation
As at 1 March 2023 2,138
As at 28 February 2024 2,138
Net Book Value
As at 28 February 2024 -
As at 1 March 2023 -
6. Stocks
2024 2023
£ £
Stock - 915
7. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Bank loans and overdrafts 1,662 1,662
Accruals and deferred income 1,000 750
Director's loan account 35,069 33,053
37,731 35,465
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Page 5
8. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Bank loans 1,599 3,210
9. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 1 1
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