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Registered Number: 10616005
England and Wales

 

 

 

AYBOLA SOFTWARE AND TECHNOLOGY LTD


Unaudited Financial Statements
 


Period of accounts

Start date: 01 August 2023

End date: 31 July 2024
Director M T Meral
Registered Number 10616005
Registered Office 20 Wenloack Road
London
N1 7GU
Accountants IAC Accountants Limited
Regal Court Business Centre
42-44 High Street, Slough
England
SL1 1EL
1
 
 
Notes
 
2024
£
  2023
£
Fixed assets      
Tangible fixed assets 3 3,494    3,743 
Investments 4 3,574    1,989 
7,068    5,732 
Current assets      
Debtors: amounts falling due within one year 5 93,325    50,145 
Cash at bank and in hand 149,663    181,290 
242,988    231,435 
Creditors: amount falling due within one year 6 (65,963)   (52,532)
Net current assets 177,025    178,903 
 
Total assets less current liabilities 184,093    184,635 
Net assets 184,093    184,635 
 

Capital and reserves
     
Called up share capital 100    100 
Profit and loss account 183,993    184,535 
Shareholders' funds 184,093    184,635 
 


For the year ended 31 July 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:
  1. The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476.
  2. The director acknowledges their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. In accordance with Section 444 of the Companies Act 2006, the income statement has not been delivered to the Registrar of Companies.
The financial statements were approved by the director on 09 December 2024 and were signed by:


-------------------------------
M T Meral
Director
2
General Information
Aybola Software and Technology Ltd is a private company, limited by shares, registered in England and Wales, registration number 10616005, registration address 20 Wenloack Road, London, N1 7GU.

The presentation currency is £ sterling.
1.

Accounting policies

Significant accounting policies
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, the Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by Section 1A of the standard)
Turnover
Turnover comprises the invoiced value of services supplied by the company, net of Value Added Tax and trade discounts.
Foreign currencies
Monetary assets and liabilities denominated in foreign currencies are translated into sterling at the rate of exchange ruling at the statement of financial position date. Transactions in foreign currencies are recorded at the rate ruling at the date of the transaction. All foreign exchange differences are included to the income statement.
Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.
Deferred taxation
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the reporting date.

Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Current and deferred tax assets and liabilities are not discounted.

Tangible fixed assets
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
Fixtures and Fittings 20% Reducing Balance
Computer Equipment 20% Reducing Balance
Fixed asset investments
Fixed asset investments are stated at cost less provision for any permanent diminution in value.
2.

Average number of employees

Average number of employees during the year was 1 (2023 : 1).
3.

Tangible fixed assets

Cost or valuation Plant and Machinery   Fixtures and Fittings   Computer Equipment   Total
  £   £   £   £
At 01 August 2023   750    6,935    7,685 
Additions 624        624 
Disposals      
At 31 July 2024 624    750    6,935    8,309 
Depreciation
At 01 August 2023   443    3,499    3,942 
Charge for year 125    61    687    873 
On disposals      
At 31 July 2024 125    504    4,186    4,815 
Net book values
Closing balance as at 31 July 2024 499    246    2,749    3,494 
Opening balance as at 01 August 2023   307    3,436    3,743 


4.

Investments

Cost Other investments other than loans   Total
  £   £
At 01 August 2023 1,989    1,989 
Additions 1,585    1,585 
Transfer to/from tangible fixed assets  
Disposals  
At 31 July 2024 3,574    3,574 

5.

Debtors: amounts falling due within one year

2024
£
  2023
£
Prepayments & Accrued Income 212    206 
Other Debtors 41,001   
Directors' Current Accounts 52,112    49,939 
93,325    50,145 

6.

Creditors: amount falling due within one year

2024
£
  2023
£
Corporation Tax 23,704    43,882 
PAYE & Social Security   197 
Accrued Expenses 29,843   
VAT 12,416    8,453 
65,963    52,532 

7.

Related Party Transactions

Debtors due within one year include an amount of £52,112 (2023 - £49,939) due from the director. This loan is repayable on demand.


Debtors due within 1 year include an interest free amount of £41,001 (2023 - £Nil) due from related company in which the director has controlling interest. This loan is repayable on demand.

3