Acorah Software Products - Accounts Production 16.0.110 false true 31 August 2023 1 September 2022 false 1 September 2023 31 August 2024 31 August 2024 07840471 Mr T J Connelly Mr H Lewis iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 07840471 2023-08-31 07840471 2024-08-31 07840471 2023-09-01 2024-08-31 07840471 frs-core:CurrentFinancialInstruments 2024-08-31 07840471 frs-core:Non-currentFinancialInstruments 2024-08-31 07840471 frs-core:BetweenOneFiveYears 2024-08-31 07840471 frs-core:FurnitureFittings 2024-08-31 07840471 frs-core:FurnitureFittings 2023-09-01 2024-08-31 07840471 frs-core:FurnitureFittings 2023-08-31 07840471 frs-core:MotorVehicles 2024-08-31 07840471 frs-core:MotorVehicles 2023-09-01 2024-08-31 07840471 frs-core:MotorVehicles 2023-08-31 07840471 frs-core:PlantMachinery 2024-08-31 07840471 frs-core:PlantMachinery 2023-09-01 2024-08-31 07840471 frs-core:PlantMachinery 2023-08-31 07840471 frs-core:WithinOneYear 2024-08-31 07840471 frs-core:ShareCapital 2024-08-31 07840471 frs-core:RetainedEarningsAccumulatedLosses 2024-08-31 07840471 frs-bus:PrivateLimitedCompanyLtd 2023-09-01 2024-08-31 07840471 frs-bus:FilletedAccounts 2023-09-01 2024-08-31 07840471 frs-bus:SmallEntities 2023-09-01 2024-08-31 07840471 frs-bus:AuditExempt-NoAccountantsReport 2023-09-01 2024-08-31 07840471 frs-bus:SmallCompaniesRegimeForAccounts 2023-09-01 2024-08-31 07840471 frs-bus:Director1 2023-09-01 2024-08-31 07840471 frs-bus:Director2 2023-09-01 2024-08-31 07840471 frs-countries:EnglandWales 2023-09-01 2024-08-31 07840471 2022-08-31 07840471 2023-08-31 07840471 2022-09-01 2023-08-31 07840471 frs-core:CurrentFinancialInstruments 2023-08-31 07840471 frs-core:Non-currentFinancialInstruments 2023-08-31 07840471 frs-core:BetweenOneFiveYears 2023-08-31 07840471 frs-core:WithinOneYear 2023-08-31 07840471 frs-core:ShareCapital 2023-08-31 07840471 frs-core:RetainedEarningsAccumulatedLosses 2023-08-31
Registered number: 07840471
Igloo Property Group Ltd.
Unaudited Financial Statements
For The Year Ended 31 August 2024
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 07840471
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 259,233 159,945
259,233 159,945
CURRENT ASSETS
Debtors 5 627,072 786,647
Cash at bank and in hand 542,415 152,007
1,169,487 938,654
Creditors: Amounts Falling Due Within One Year 6 (624,593 ) (532,910 )
NET CURRENT ASSETS (LIABILITIES) 544,894 405,744
TOTAL ASSETS LESS CURRENT LIABILITIES 804,127 565,689
Creditors: Amounts Falling Due After More Than One Year 7 (135,819 ) (99,980 )
NET ASSETS 668,308 465,709
CAPITAL AND RESERVES
Called up share capital 9 100 100
Profit and Loss Account 668,208 465,609
SHAREHOLDERS' FUNDS 668,308 465,709
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For the year ending 31 August 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 H Lewis
Director
09/01/2025
The notes on pages 3 to 5 form part of these financial statements.
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Page 3
Notes to the Financial Statements
1. General Information
Igloo Property Group Ltd. is a private company, limited by shares, incorporated in England & Wales, registered number 07840471 . The registered office is Unit 3 Second Aveneue, Pensnett Trading Estate, Kingswinford, DY6 7YA.
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 15% Reducing Value
Motor Vehicles 20% On Cost
Fixtures & Fittings 15% Reducing Value
2.4. Leasing and Hire Purchase Contracts
Assets obtained under finance leases are capitalised as tangible fixed assets. Assets acquired under finance leases are depreciated over the shorter of the lease term and their useful lives. Assets acquired under hire purchase contracts are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in the creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.

Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to profit and loss account as incurred.
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 and deferred tax are recognised in profit or loss for the year, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case current and deferred tax are recognised in other comprehensive income or directly in equity respectively.
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3. Average Number of Employees
Average number of employees, including directors, during the year was: 6 (2023: 5)
6 5
4. Tangible Assets
Plant & Machinery Motor Vehicles Fixtures & Fittings Total
£ £ £ £
Cost
As at 1 September 2023 - 198,424 30,325 228,749
Additions 33,700 106,639 1,565 141,904
As at 31 August 2024 33,700 305,063 31,890 370,653
Depreciation
As at 1 September 2023 - 58,019 10,785 68,804
Provided during the period - 39,685 2,931 42,616
As at 31 August 2024 - 97,704 13,716 111,420
Net Book Value
As at 31 August 2024 33,700 207,359 18,174 259,233
As at 1 September 2023 - 140,405 19,540 159,945
5. Debtors
2024 2023
£ £
Due within one year
Trade debtors 248,662 514,163
Prepayments and accrued income 1,959 1,959
Other debtors 362,132 258,269
Other taxes and social security 14,283 12,256
Directors' loan accounts 36 -
627,072 786,647
6. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Net obligations under finance lease and hire purchase contracts 40,562 18,786
Trade creditors 334,243 269,287
Bank loans and overdrafts 8,306 8,306
Corporation tax 63,282 55,609
VAT 167,021 124,164
Net wages - 162
Other creditors 315 34,608
Accruals and deferred income 5,703 5,585
Directors' loan accounts 5,161 16,403
624,593 532,910
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7. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Net obligations under finance lease and hire purchase contracts 129,478 86,172
Bank loans 6,341 13,808
135,819 99,980
8. Obligations Under Finance Leases and Hire Purchase
2024 2023
£ £
The future minimum finance lease payments are as follows:
Not later than one year 40,562 18,786
Later than one year and not later than five years 129,478 86,172
170,040 104,958
170,040 104,958
9. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 100 100
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