Acorah Software Products - Accounts Production 16.1.200 false true 31 December 2023 1 January 2023 false 1 January 2024 31 December 2024 31 December 2024 11616273 Mr Igor Tesinsky Mr Marc Steiner Mr Paul Hatfield Mr Matteo Lorenzini iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 11616273 2023-12-31 11616273 2024-12-31 11616273 2024-01-01 2024-12-31 11616273 frs-core:CurrentFinancialInstruments 2024-12-31 11616273 frs-core:Non-currentFinancialInstruments 2024-12-31 11616273 frs-core:ComputerEquipment 2024-12-31 11616273 frs-core:ComputerEquipment 2024-01-01 2024-12-31 11616273 frs-core:ComputerEquipment 2023-12-31 11616273 frs-core:DevelopmentCostsCapitalisedDevelopmentExpenditure 2024-01-01 2024-12-31 11616273 frs-core:OtherResidualIntangibleAssets 2024-12-31 11616273 frs-core:OtherResidualIntangibleAssets 2024-01-01 2024-12-31 11616273 frs-core:OtherResidualIntangibleAssets 2023-12-31 11616273 frs-core:SharePremium 2024-12-31 11616273 frs-core:ShareCapital 2024-12-31 11616273 frs-core:RetainedEarningsAccumulatedLosses 2024-12-31 11616273 frs-bus:PrivateLimitedCompanyLtd 2024-01-01 2024-12-31 11616273 frs-bus:FilletedAccounts 2024-01-01 2024-12-31 11616273 frs-bus:SmallEntities 2024-01-01 2024-12-31 11616273 frs-bus:AuditExempt-NoAccountantsReport 2024-01-01 2024-12-31 11616273 frs-bus:SmallCompaniesRegimeForAccounts 2024-01-01 2024-12-31 11616273 frs-bus:Director1 2024-01-01 2024-12-31 11616273 frs-bus:Director2 2024-01-01 2024-12-31 11616273 frs-bus:Director3 2024-01-01 2024-12-31 11616273 frs-bus:Director4 2024-01-01 2024-12-31 11616273 frs-countries:EnglandWales 2024-01-01 2024-12-31 11616273 2022-12-31 11616273 2023-12-31 11616273 2023-01-01 2023-12-31 11616273 frs-core:CurrentFinancialInstruments 2023-12-31 11616273 frs-core:Non-currentFinancialInstruments 2023-12-31 11616273 frs-core:SharePremium 2023-12-31 11616273 frs-core:ShareCapital 2023-12-31 11616273 frs-core:RetainedEarningsAccumulatedLosses 2023-12-31
Registered number: 11616273
Intellibonds Ltd
Unaudited Financial Statements
For The Year Ended 31 December 2024
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 11616273
2024 2023
Notes £ £ £ £
FIXED ASSETS
Intangible Assets 4 33,750 -
Tangible Assets 5 - 678
33,750 678
CURRENT ASSETS
Debtors 6 248 3,261
Cash at bank and in hand 1,625 115,146
1,873 118,407
Creditors: Amounts Falling Due Within One Year 7 (69,741 ) (75,591 )
NET CURRENT ASSETS (LIABILITIES) (67,868 ) 42,816
TOTAL ASSETS LESS CURRENT LIABILITIES (34,118 ) 43,494
Creditors: Amounts Falling Due After More Than One Year 8 (165,876 ) -
NET (LIABILITIES)/ASSETS (199,994 ) 43,494
CAPITAL AND RESERVES
Called up share capital 9 1 1
Share premium account 1,035,058 1,025,920
Profit and Loss Account (1,235,053 ) (982,427 )
SHAREHOLDERS' FUNDS (199,994) 43,494
Page 1
Page 2
For the year ending 31 December 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 Profit and Loss Account.
On behalf of the board
Mr Igor Tesinsky
Director
24 January 2025
The notes on pages 3 to 5 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Intellibonds Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 11616273 . The registered office is Level 39, One Canada Square, London, E14 5AB.
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. Intangible Fixed Assets and Amortisation - Other Intangible
Other intangible assets are platform development costs. It is amortised to profit and loss account over its estimated economic life of 10 years.
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 Straight line over 2 years
2.5. 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.
2.6. 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 year 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 asset reflects 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.
Page 3
Page 4
3. Average Number of Employees
Average number of employees, including directors, during the year was: 2 (2023: 2)
2 2
4. Intangible Assets
Other
£
Cost
As at 1 January 2024 -
Additions 37,500
As at 31 December 2024 37,500
Amortisation
As at 1 January 2024 -
Provided during the period 3,750
As at 31 December 2024 3,750
Net Book Value
As at 31 December 2024 33,750
As at 1 January 2024 -
5. Tangible Assets
Computer Equipment
£
Cost
As at 1 January 2024 2,590
As at 31 December 2024 2,590
Depreciation
As at 1 January 2024 1,912
Provided during the period 678
As at 31 December 2024 2,590
Net Book Value
As at 31 December 2024 -
As at 1 January 2024 678
6. Debtors
2024 2023
£ £
Due within one year
VAT - 3,261
Other taxes and social security 248 -
248 3,261
Page 4
Page 5
7. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Other taxes and social security - 3,346
VAT 98 -
Other creditors 55 29,509
Accruals and deferred income - 12,000
Directors' loan accounts 17,237 30,736
Amounts owed to related parties 52,351 -
69,741 75,591
8. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Other creditors 165,876 -
9. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 1 1
Page 5