Acorah Software Products - Accounts Production 16.1.300 false true 30 April 2023 1 May 2022 false 1 May 2023 30 April 2024 30 April 2024 06221876 Mr Stephen Letts Mr Stephen Letts iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 06221876 2023-04-30 06221876 2024-04-30 06221876 2023-05-01 2024-04-30 06221876 frs-core:CurrentFinancialInstruments 2024-04-30 06221876 frs-core:Non-currentFinancialInstruments 2024-04-30 06221876 frs-core:NetGoodwill 2024-04-30 06221876 frs-core:NetGoodwill 2023-05-01 2024-04-30 06221876 frs-core:NetGoodwill 2023-04-30 06221876 frs-core:MotorVehicles 2024-04-30 06221876 frs-core:MotorVehicles 2023-05-01 2024-04-30 06221876 frs-core:MotorVehicles 2023-04-30 06221876 frs-core:OtherReservesSubtotal 2024-04-30 06221876 frs-core:ShareCapital 2024-04-30 06221876 frs-core:RetainedEarningsAccumulatedLosses 2024-04-30 06221876 frs-bus:PrivateLimitedCompanyLtd 2023-05-01 2024-04-30 06221876 frs-bus:FilletedAccounts 2023-05-01 2024-04-30 06221876 frs-bus:SmallEntities 2023-05-01 2024-04-30 06221876 frs-bus:AuditExempt-NoAccountantsReport 2023-05-01 2024-04-30 06221876 frs-bus:SmallCompaniesRegimeForAccounts 2023-05-01 2024-04-30 06221876 frs-bus:Director1 2023-05-01 2024-04-30 06221876 frs-bus:Director2 2023-05-01 2024-04-30 06221876 frs-countries:EnglandWales 2023-05-01 2024-04-30 06221876 2022-04-30 06221876 2023-04-30 06221876 2022-05-01 2023-04-30 06221876 frs-core:CurrentFinancialInstruments 2023-04-30 06221876 frs-core:Non-currentFinancialInstruments 2023-04-30 06221876 frs-core:OtherReservesSubtotal 2023-04-30 06221876 frs-core:ShareCapital 2023-04-30 06221876 frs-core:RetainedEarningsAccumulatedLosses 2023-04-30
Registered number: 06221876
It Collections Ltd
Unaudited Financial Statements
For The Year Ended 30 April 2024
Dual Accountants Limited
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—4
Page 1
Balance Sheet
Registered number: 06221876
2024 2023
Notes £ £ £ £
FIXED ASSETS
Intangible Assets 4 40,680 40,680
Tangible Assets 5 18,668 23,459
59,348 64,139
CURRENT ASSETS
Stocks 6 1,000 1,000
Debtors 7 286 -
Cash at bank and in hand 11,431 16,714
12,717 17,714
Creditors: Amounts Falling Due Within One Year 8 (79,181 ) (52,875 )
NET CURRENT ASSETS (LIABILITIES) (66,464 ) (35,161 )
TOTAL ASSETS LESS CURRENT LIABILITIES (7,116 ) 28,978
Creditors: Amounts Falling Due After More Than One Year 9 (825 ) (4,516 )
NET (LIABILITIES)/ASSETS (7,941 ) 24,462
CAPITAL AND RESERVES
Called up share capital 10 100 100
Other reserves - 2,394
Profit and Loss Account (8,041 ) 21,968
SHAREHOLDERS' FUNDS (7,941) 24,462
Page 1
Page 2
For the year ending 30 April 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 Stephen Letts
Director
14/01/2025
The notes on pages 3 to 4 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
It Collections Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 06221876 . The registered office is 15 Victoria Way, Pride Park, Derby, DE24 8AN.
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 - Goodwill
Goodwill is the difference between amounts paid on the acquisition of a business and the fair value of the separable net assets. It is amortised to profit and loss account over its estimated economic life of .... 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:
Motor Vehicles 166
2.5. Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 3 (2023: 6)
3 6
4. Intangible Assets
Goodwill
£
Cost
As at 1 May 2023 40,680
As at 30 April 2024 40,680
Net Book Value
As at 30 April 2024 40,680
As at 1 May 2023 40,680
Page 3
Page 4
5. Tangible Assets
Motor Vehicles
£
Cost
As at 1 May 2023 38,306
As at 30 April 2024 38,306
Depreciation
As at 1 May 2023 14,847
Provided during the period 4,791
As at 30 April 2024 19,638
Net Book Value
As at 30 April 2024 18,668
As at 1 May 2023 23,459
6. Stocks
2024 2023
£ £
Stock 1,000 1,000
7. Debtors
2024 2023
£ £
Due within one year
Trade debtors 286 -
8. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors (1 ) -
Other taxes and social security 174 21,625
VAT 2,424 2,620
Other creditors 13,258 13,258
Accruals and deferred income 2,500 2,500
Directors' loan accounts 60,826 12,872
79,181 52,875
9. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Bank loans 825 4,516
10. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 100 100
Page 4