AUDLEM SOFTWARE LTD
Balance Sheet
as at 30 April 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 319 629
319 629
Current assets
Debtors 4 2,250 2,433
Cash at bank and in hand 4,035 17,195
6,285 19,628
Creditors: amounts falling due within one year 5 (48,709) (54,670)
Net current liabilities (42,424) (35,042)
Total assets less current liabilities (42,105) (34,413)
Net liabilities (42,105) (34,413)
Capital and reserves
Called up share capital 100 100
Profit and loss account (42,205) (34,513)
Shareholders' funds (42,105) (34,413)
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
MRS. S.A. FORD
Director
Approved by the board on 15 January 2025
AUDLEM SOFTWARE LTD
Notes to the Accounts
for the year ended 30 April 2024
1 Accounting policies
Basis of preparation
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 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 from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. 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.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, at rates calculated to write off the cost, less estimated residual value, of each asset over its expected useful life, as follows:
Office equipment 25% reducing balance basis
Computer hardware and software 33⅓% straight line basis
Work in progress
Work in progress is measured at the lower of cost and estimated selling price less costs to complete and sell.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price).
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference. Current and deferred tax assets and liabilities are not discounted.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 3 3
3 Tangible fixed assets
Office equipment Computer hardware and software Total
£ £ £
Cost
At 1 May 2023 712 31,962 32,674
At 30 April 2024 712 31,962 32,674
Depreciation
At 1 May 2023 703 31,342 32,045
Charge for the year - 310 310
At 30 April 2024 703 31,652 32,355
Net book value
At 30 April 2024 9 310 319
At 30 April 2023 9 620 629
4 Debtors 2024 2023
£ £
Trade debtors 725 1,034
Prepayments 1,525 1,399
2,250 2,433
5 Creditors: amounts falling due within one year 2024 2023
£ £
Trade creditors 1,800 1,800
Other taxes and social security costs 163 2,707
Directors' loan account 46,746 50,163
48,709 54,670
6 Controlling party
The ultimate controlling party throughout the year was Dr. L.O. Ford, a director and shareholder in the company.
7 Other information
AUDLEM SOFTWARE LTD is a private company limited by shares and incorporated in England (Company Number 04180206). Its registered office is Oakland, Crew Green, Shrewsbury, Powys, SY5 9AS.
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