Acorah Software Products - Accounts Production 16.1.300 false true true 31 May 2023 1 June 2022 false 1 June 2023 31 May 2024 31 May 2024 08546183 Mrs Sophie Tobias Sl24 Ltd. Mrs. Sophie Tobias true iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 08546183 2023-05-31 08546183 2024-05-31 08546183 2023-06-01 2024-05-31 08546183 frs-core:CurrentFinancialInstruments 2024-05-31 08546183 frs-core:ComputerEquipment 2024-05-31 08546183 frs-core:ComputerEquipment 2023-06-01 2024-05-31 08546183 frs-core:ComputerEquipment 2023-05-31 08546183 frs-core:ShareCapital 2024-05-31 08546183 frs-core:RetainedEarningsAccumulatedLosses 2024-05-31 08546183 frs-bus:PrivateLimitedCompanyLtd 2023-06-01 2024-05-31 08546183 frs-bus:FilletedAccounts 2023-06-01 2024-05-31 08546183 frs-bus:SmallEntities 2023-06-01 2024-05-31 08546183 frs-bus:AuditExempt-NoAccountantsReport 2023-06-01 2024-05-31 08546183 frs-bus:SmallCompaniesRegimeForAccounts 2023-06-01 2024-05-31 08546183 1 2023-06-01 2024-05-31 08546183 frs-bus:Director1 2023-06-01 2024-05-31 08546183 frs-bus:CompanySecretary1 2023-06-01 2024-05-31 08546183 frs-countries:EnglandWales 2023-06-01 2024-05-31 08546183 2022-05-31 08546183 2023-05-31 08546183 2022-06-01 2023-05-31 08546183 frs-core:CurrentFinancialInstruments 2023-05-31 08546183 frs-core:ShareCapital 2023-05-31 08546183 frs-core:RetainedEarningsAccumulatedLosses 2023-05-31
Registered number: 08546183
Smartcitiesiq Ltd
Unaudited Financial Statements
For The Year Ended 31 May 2024
Adbell Advisory Limited
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—4
Page 1
Balance Sheet
Registered number: 08546183
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 844 1,126
844 1,126
CURRENT ASSETS
Debtors 5 15,098 -
Cash at bank and in hand - 88,139
15,098 88,139
Creditors: Amounts Falling Due Within One Year 6 (114,631 ) (91,755 )
NET CURRENT ASSETS (LIABILITIES) (99,533 ) (3,616 )
TOTAL ASSETS LESS CURRENT LIABILITIES (98,689 ) (2,490 )
NET LIABILITIES (98,689 ) (2,490 )
CAPITAL AND RESERVES
Called up share capital 7 1 1
Profit and Loss Account (98,690 ) (2,491 )
SHAREHOLDERS' FUNDS (98,689) (2,490)
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For the year ending 31 May 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
Mrs Sophie Tobias
Director
26/02/2025
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
Smartcitiesiq Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 08546183 . The registered office is 483 Green Lanes, London, N13 4BS.
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. Going Concern Disclosure
The financial statements are prepared on the basis of the going concern, which assumes that the company will be in operational existence for the foreseeable future. This depends upon continued support of the shareholders. The financial statements do not include any adjustments that would result if such support is withdrawn.
2.3. 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.
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.
2.4. 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 25%
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
Taxation for the period 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 tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.
Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the period end and 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.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 1 (2023: 1)
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4. Tangible Assets
Computer Equipment
£
Cost
As at 1 June 2023 2,001
As at 31 May 2024 2,001
Depreciation
As at 1 June 2023 875
Provided during the period 282
As at 31 May 2024 1,157
Net Book Value
As at 31 May 2024 844
As at 1 June 2023 1,126
5. Debtors
2024 2023
£ £
Due within one year
Other debtors 15,098 -
6. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 192 -
Other creditors 114,439 91,755
114,631 91,755
7. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 1 1
Allotted, issued and fully paid 1 ordinary share in £1 nominal value each.
8. Ultimate Controlling Party
The company's ultimate controlling party is Mrs. Sophie Tobias by virtue of her ownership of 100% of the issued share capital in the company.
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