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Registered number: 11851976
Philidor Advisory Limited
Unaudited Financial Statements
For The Year Ended 29 February 2024
Adbell Advisory Limited
Contents
Page
Balance Sheet 1
Notes to the Financial Statements 2—3
Page 1
Balance Sheet
Registered number: 11851976
2024 2023
Notes £ £ £ £
CURRENT ASSETS
Debtors 4 132 132
Cash at bank and in hand 1,227 1,247
1,359 1,379
Creditors: Amounts Falling Due Within One Year 5 (38,428 ) (36,241 )
NET CURRENT ASSETS (LIABILITIES) (37,069 ) (34,862 )
TOTAL ASSETS LESS CURRENT LIABILITIES (37,069 ) (34,862 )
NET LIABILITIES (37,069 ) (34,862 )
CAPITAL AND RESERVES
Called up share capital 6 132 132
Profit and Loss Account (37,201 ) (34,994 )
SHAREHOLDERS' FUNDS (37,069) (34,862)
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 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 Claudio Feltrin
Director
26/11/2024
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
Philidor Advisory Limited is a private company, limited by shares, incorporated in England & Wales, registered number 11851976 . The registered office is Birchin Court, 20 Birchin Lane, London, EC3V 9DJ.
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
The financial statements are prepared on the basis of the going concern, which assumes that the company will be in operational existence for the foreseeable future. This depends upon continued support of the shareholders. The financial statements do not include any adjustments that would result if such support is withdrawn.
2.3. Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.
2.4. Financial Instruments
The company has elected to apply the provisions of Section 11 'Basic Financial Instruments' and Section 12 'Other Financial Instruments Issues' of FRS 102 to all of its financial instruments.
Financial instruments are recognised in the company's statement of financial position when the company becomes party to the contractual provisions of the instrument.
Financial assets and liabilities are offset , with the net amounts presented in the financial statements , when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.
Basic financial assets
Basic financial assets, which include trade and other receivables and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.
Classification of financial liabilities
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.
Basic financial liabilities, including trade and other payables, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest.
Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.
Trade payables are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade payables are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.
Equity instruments
Equity instruments issued by the company are recorded at the proceeds received, net of direct issue costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.
2.5. Foreign Currencies
Assets and liabilities in foreign currencies are translated into Swiss Franc at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into Swiss Franc at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.
2.6. Cash and cash equivalents
Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid
investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown
within borrowings in current liabilities.
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Page 3
2.7. Leases
Rentals payable under operating leases, including any lease incentives received, are charged to income on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the lease asset are consumed.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 1 (2023: 1)
1 1
4. Debtors
2024 2023
£ £
Due within one year
Called up share capital not paid 132 132
5. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Corporation tax 4,594 4,594
Other creditors 31,580 30,286
Accruals and deferred income 2,254 1,361
38,428 36,241
6. Share Capital
2024 2023
£ £
Called Up Share Capital not Paid 132 132
Amount of Allotted, Called Up Share Capital 132 132
Allotted and issued 100 ordinary shares in £1 nominal value each.
7. Ultimate Controlling Party
The company's ultimate controlling party is C Feltrin by virtue of his ownership of 100% of the issued share capital in the company.
Page 3