Acorah Software Products - Accounts Production 16.1.300 false true true 31 August 2023 1 September 2022 false 1 September 2023 31 August 2024 31 August 2024 12538043 Mrs Anna Abdelnoor iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 12538043 2023-08-31 12538043 2024-08-31 12538043 2023-09-01 2024-08-31 12538043 frs-core:CurrentFinancialInstruments 2024-08-31 12538043 frs-core:Non-currentFinancialInstruments 2024-08-31 12538043 frs-core:ComputerEquipment 2024-08-31 12538043 frs-core:ComputerEquipment 2023-09-01 2024-08-31 12538043 frs-core:ComputerEquipment 2023-08-31 12538043 frs-core:RetainedEarningsAccumulatedLosses 2024-08-31 12538043 frs-bus:CompanyLimitedByGuarantee 2023-09-01 2024-08-31 12538043 frs-bus:FilletedAccounts 2023-09-01 2024-08-31 12538043 frs-bus:SmallEntities 2023-09-01 2024-08-31 12538043 frs-bus:AuditExempt-NoAccountantsReport 2023-09-01 2024-08-31 12538043 frs-bus:SmallCompaniesRegimeForAccounts 2023-09-01 2024-08-31 12538043 frs-bus:Director1 2023-09-01 2024-08-31 12538043 frs-countries:EnglandWales 2023-09-01 2024-08-31 12538043 2022-08-31 12538043 2023-08-31 12538043 2022-09-01 2023-08-31 12538043 frs-core:CurrentFinancialInstruments 2023-08-31 12538043 frs-core:Non-currentFinancialInstruments 2023-08-31 12538043 frs-core:RetainedEarningsAccumulatedLosses 2023-08-31
Registered number: 12538043
Isla Collective Ltd
Unaudited Financial Statements
For The Year Ended 31 August 2024
The Numbers Studio
Chartered Accountants
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—4
Page 1
Balance Sheet
Registered number: 12538043
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 2,126 3,393
2,126 3,393
CURRENT ASSETS
Debtors 5 353,817 468,385
Cash at bank and in hand 7,623 40,937
361,440 509,322
Creditors: Amounts Falling Due Within One Year 6 (426,134 ) (505,043 )
NET CURRENT ASSETS (LIABILITIES) (64,694 ) 4,279
TOTAL ASSETS LESS CURRENT LIABILITIES (62,568 ) 7,672
Creditors: Amounts Falling Due After More Than One Year 7 (185,587 ) (30,059 )
NET LIABILITIES (248,155 ) (22,387 )
Income and Expenditure Account (248,155 ) (22,387 )
MEMBERS' FUNDS (248,155) (22,387)
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Page 2
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 director acknowledges her 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 Income and Expenditure Account.
On behalf of the board
Mrs Anna Abdelnoor
Director
28 March 2025
The notes on pages 3 to 4 form part of these financial statements.
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Page 3
Notes to the Financial Statements
1. General Information
Isla Collective Ltd is a private company, limited by guarantee, incorporated in England & Wales, registered number 12538043 . The registered office is 37 Blenheim Road, London, E17 6HS.
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 directors have not identified any material uncertainties related to events or conditions that may cast significant doubt about the company's ability to continue as a going concern.
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 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 4 years straight-line
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 surplus.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 12 (2023: 12)
12 12
4. Tangible Assets
Computer Equipment
£
Cost
As at 1 September 2023 5,779
Additions 197
As at 31 August 2024 5,976
Depreciation
As at 1 September 2023 2,386
Provided during the period 1,464
As at 31 August 2024 3,850
Net Book Value
As at 31 August 2024 2,126
As at 1 September 2023 3,393
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5. Debtors
2024 2023
£ £
Due within one year
Trade debtors 163,506 178,486
Prepayments and accrued income - 2,516
Intercompany loan with EML 190,311 287,383
353,817 468,385
6. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 37,567 118,187
Bank loans and overdrafts - 63,852
Other taxes and social security 39,718 23,593
VAT 85,569 134,974
Net wages 1,503 -
Accruals and deferred income 132,629 146,455
Director's loan account 129,148 17,982
426,134 505,043
7. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Bank loans - 30,059
Other loans 185,587 -
185,587 30,059
8. Company limited by guarantee
The company is limited by guarantee and has no share capital.
Every member of the company undertakes to contribute to the assets of the company, in the event of a winding up, such an amount as may be required not exceeding £1.
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