Acorah Software Products - Accounts Production 16.0.110 false true true 28 February 2023 1 March 2022 false 1 March 2023 29 February 2024 29 February 2024 12469748 Mr Anthony Svanascini Mr Michael Svanascini Svanaco Inc. t/as Americaneagle.com true iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 12469748 2023-02-28 12469748 2024-02-29 12469748 2023-03-01 2024-02-29 12469748 frs-core:CurrentFinancialInstruments 2024-02-29 12469748 frs-core:ComputerEquipment 2024-02-29 12469748 frs-core:ComputerEquipment 2023-03-01 2024-02-29 12469748 frs-core:ComputerEquipment 2023-02-28 12469748 frs-core:ShareCapital 2024-02-29 12469748 frs-core:RetainedEarningsAccumulatedLosses 2024-02-29 12469748 frs-bus:PrivateLimitedCompanyLtd 2023-03-01 2024-02-29 12469748 frs-bus:FilletedAccounts 2023-03-01 2024-02-29 12469748 frs-bus:SmallEntities 2023-03-01 2024-02-29 12469748 frs-bus:AuditExempt-NoAccountantsReport 2023-03-01 2024-02-29 12469748 frs-bus:SmallCompaniesRegimeForAccounts 2023-03-01 2024-02-29 12469748 frs-bus:OrdinaryShareClass2 2023-03-01 2024-02-29 12469748 frs-bus:OrdinaryShareClass2 2024-02-29 12469748 1 2023-03-01 2024-02-29 12469748 frs-bus:Director1 2023-03-01 2024-02-29 12469748 frs-bus:Director2 2023-03-01 2024-02-29 12469748 frs-countries:EnglandWales 2023-03-01 2024-02-29 12469748 2022-02-28 12469748 2023-02-28 12469748 2022-03-01 2023-02-28 12469748 frs-core:CurrentFinancialInstruments 2023-02-28 12469748 frs-core:ShareCapital 2023-02-28 12469748 frs-core:RetainedEarningsAccumulatedLosses 2023-02-28 12469748 frs-bus:OrdinaryShareClass2 2022-03-01 2023-02-28
Registered number: 12469748
Americaneagle.com UK Ltd
Unaudited Financial Statements
For The Year Ended 29 February 2024
Ten Forward Accounting Ltd
Chartered Certified Accountants
1 Mountview Court
310 Friern Barnet Lane
London
N20 0LD
Contents
Page
Statement of Financial Position 1
Notes to the Financial Statements 2—4
Page 1
Statement of Financial Position
Registered number: 12469748
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 12,698 18,013
12,698 18,013
CURRENT ASSETS
Debtors 5 549,951 411,248
Cash at bank and in hand 115,941 105,334
665,892 516,582
Creditors: Amounts Falling Due Within One Year 6 (966,489 ) (611,844 )
NET CURRENT ASSETS (LIABILITIES) (300,597 ) (95,262 )
TOTAL ASSETS LESS CURRENT LIABILITIES (287,899 ) (77,249 )
NET LIABILITIES (287,899 ) (77,249 )
CAPITAL AND RESERVES
Called up share capital 7 1,000 1,000
Income Statement (288,899 ) (78,249 )
SHAREHOLDERS' FUNDS (287,899) (77,249)
For the year ending 29 February 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 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 Income Statement.
On behalf of the board
Mr Michael Svanascini
Director
22 November 2024
The notes on pages 2 to 4 form part of these financial statements.
Page 1
Page 2
Notes to the Financial Statements
1. General Information
Americaneagle.com UK Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 12469748 . The registered office is 1 Mountview Court, 310 Friern Barnet Lane, London, N20 0LD.
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. Going Concern Disclosure
At the balance sheet date, the company's liabilities exceeded its assets. The company has received assurance from the directors that they will continue to give financial support to the company for the foreseeable future.

On this basis, the directors consider it appropriate to prepare the accounts on a going concern basis. However, should the financial support mentioned above not be forthcoming, the going concern basis used in preparing the company's accounts may be invalid and adjustments would have to be made to reduce the value of assets to their realisable amount and to provide for any further liabilities which might arise. The accounts do not include any adjustment to the company's assets or liabilities that might be necessary should this basis not continue to be appropriate.
2.3. 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.
2.4. 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:
Computer Equipment 25% Straight Line Basis
2.5. Financial Instruments
A financial asset or a financial liability is recognised only when the company becomes a party to the contractual provisions of the instrument.
Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.
Debt instruments are subsequently measured at amortised cost.
2.6. Foreign Currencies
Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the statement of financial position 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.
2.7. 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.
2.8. Registrar Filing Requirements
The company has taken advantage of Companies Act 2006 section 444(1) and opted not to file the income statement, directors report, and notes to the financial statements relating to the income statement.
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Page 3
3. Average Number of Employees
Average number of employees, including directors, during the year was: 19 (2023: 15)
19 15
4. Tangible Assets
Computer Equipment
£
Cost
As at 1 March 2023 24,017
Additions 920
As at 29 February 2024 24,937
Depreciation
As at 1 March 2023 6,004
Provided during the period 6,235
As at 29 February 2024 12,239
Net Book Value
As at 29 February 2024 12,698
As at 1 March 2023 18,013
5. Debtors
2024 2023
£ £
Due within one year
Trade debtors 539,515 382,024
Prepayments and accrued income 9,400 9,358
Other debtors 1,000 1,000
VAT 36 5,418
Amounts owed by group undertakings - 13,448
549,951 411,248
6. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 184,464 47,860
Other taxes and social security 58,214 47,045
Other creditors - 6,715
Accruals and deferred income 1,483 3,073
Amounts owed to group undertakings 722,328 507,151
966,489 611,844
7. Share Capital
2024 2023
Allotted, called up and fully paid £ £
1,000 Ordinary A shares of £ 1.000 each 1,000 1,000
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8. Related Party Transactions
Svanaco Inc. t/as Americaneagle.comThe company is fully owned by Svanaco Inc. t/as Americaneagle.comDuring the year Svanaco Inc. loaned the company £215,177 (2023: £306,695 ). The total owing to Svanaco Inc. at year end was £722,328 (2022: £507,151).

Svanaco Inc. t/as Americaneagle.com

The company is fully owned by Svanaco Inc. t/as Americaneagle.com

During the year Svanaco Inc. loaned the company £215,177 (2023: £306,695 ). The total owing to Svanaco Inc. at year end was £722,328 (2022: £507,151).

9. Ultimate Controlling Party
The company's ultimate controlling party is Svanaco Inc. t/as Americaneagle.com , a company incorporated in the USA, by virtue of its ownership of 100% of the issued share capital in the company.
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