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 09989740 Mr Luke Andrew Torrens iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 09989740 2023-02-28 09989740 2024-02-28 09989740 2023-03-01 2024-02-28 09989740 frs-core:CurrentFinancialInstruments 2024-02-28 09989740 frs-core:PlantMachinery 2023-03-01 2024-02-28 09989740 frs-core:ShareCapital 2024-02-28 09989740 frs-core:RetainedEarningsAccumulatedLosses 2024-02-28 09989740 frs-bus:PrivateLimitedCompanyLtd 2023-03-01 2024-02-28 09989740 frs-bus:FilletedAccounts 2023-03-01 2024-02-28 09989740 frs-bus:SmallEntities 2023-03-01 2024-02-28 09989740 frs-bus:AuditExempt-NoAccountantsReport 2023-03-01 2024-02-28 09989740 frs-bus:SmallCompaniesRegimeForAccounts 2023-03-01 2024-02-28 09989740 frs-bus:Director1 2023-03-01 2024-02-28 09989740 frs-countries:EnglandWales 2023-03-01 2024-02-28 09989740 2022-02-28 09989740 2023-02-28 09989740 2022-03-01 2023-02-28 09989740 frs-core:CurrentFinancialInstruments 2023-02-28 09989740 frs-core:ShareCapital 2023-02-28 09989740 frs-core:RetainedEarningsAccumulatedLosses 2023-02-28
Registered number: 09989740
TORRENS CONSULTING LIMITED
Unaudited Financial Statements
For The Year Ended 28 February 2024
Aster & Trujillo
3-7 Temple Avenue
Suite 140 Temple Chambers
London
EC4Y 0DA
Unaudited Financial Statements
Contents
Page
Balance Sheet 1
Notes to the Financial Statements 2—3
Page 1
Balance Sheet
Registered number: 09989740
2024 2023
Notes £ £ £ £
CURRENT ASSETS
Debtors 4 6,315 26,939
Cash at bank and in hand 13,572 -
19,887 26,939
Creditors: Amounts Falling Due Within One Year 5 (19,344 ) (26,839 )
NET CURRENT ASSETS (LIABILITIES) 543 100
TOTAL ASSETS LESS CURRENT LIABILITIES 543 100
NET ASSETS 543 100
CAPITAL AND RESERVES
Called up share capital 6 100 100
Profit and Loss Account 443 -
SHAREHOLDERS' FUNDS 543 100
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 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 Luke Andrew Torrens
Director
20/11/2024
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
TORRENS CONSULTING LIMITED is a private company, limited by shares, incorporated in England & Wales, registered number 09989740 . The registered office is Suite 140-141, Temple Chambers , 3-7 Temple Avennue, London, EC4Y 0DA.
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:
Plant & Machinery 18%SLM
2.4. Foreign Currencies
Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet 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.
2.5. 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.
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 or deferred tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also 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: 1 (2023: 1)
1 1
Page 2
Page 3
4. Debtors
2024 2023
£ £
Due within one year
Trade debtors 6,315 2,038
Director's loan account - 24,901
6,315 26,939
5. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 795 (1 )
Bank loans and overdrafts - 1,754
Corporation tax 5,968 20,114
VAT 535 4,752
Other creditors - 220
Director's loan account 12,046 -
19,344 26,839
6. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 100 100
Page 3