Acorah Software Products - Accounts Production 16.2.850 false true 30 September 2023 1 October 2022 false 1 October 2023 30 September 2024 30 September 2024 05950029 Mr Salvatore Cirasuolo iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 05950029 2023-09-30 05950029 2024-09-30 05950029 2023-10-01 2024-09-30 05950029 frs-core:CurrentFinancialInstruments 2024-09-30 05950029 frs-core:Non-currentFinancialInstruments 2024-09-30 05950029 frs-core:ComputerEquipment 2024-09-30 05950029 frs-core:ComputerEquipment 2023-10-01 2024-09-30 05950029 frs-core:ComputerEquipment 2023-09-30 05950029 frs-core:MotorVehicles 2024-09-30 05950029 frs-core:MotorVehicles 2023-10-01 2024-09-30 05950029 frs-core:MotorVehicles 2023-09-30 05950029 frs-core:ShareCapital 2024-09-30 05950029 frs-core:RetainedEarningsAccumulatedLosses 2024-09-30 05950029 frs-bus:PrivateLimitedCompanyLtd 2023-10-01 2024-09-30 05950029 frs-bus:FilletedAccounts 2023-10-01 2024-09-30 05950029 frs-bus:SmallEntities 2023-10-01 2024-09-30 05950029 frs-bus:AuditExempt-NoAccountantsReport 2023-10-01 2024-09-30 05950029 frs-bus:SmallCompaniesRegimeForAccounts 2023-10-01 2024-09-30 05950029 frs-bus:Director1 2023-10-01 2024-09-30 05950029 frs-core:CurrentFinancialInstruments 1 2024-09-30 05950029 frs-core:CurrentFinancialInstruments 3 2024-09-30 05950029 frs-countries:EnglandWales 2023-10-01 2024-09-30 05950029 2022-09-30 05950029 2023-09-30 05950029 2022-10-01 2023-09-30 05950029 frs-core:CurrentFinancialInstruments 2023-09-30 05950029 frs-core:Non-currentFinancialInstruments 2023-09-30 05950029 frs-core:ShareCapital 2023-09-30 05950029 frs-core:RetainedEarningsAccumulatedLosses 2023-09-30 05950029 frs-core:CurrentFinancialInstruments 1 2023-09-30 05950029 frs-core:CurrentFinancialInstruments 3 2023-09-30
Registered number: 05950029
Intelli Heat Limited
Unaudited Financial Statements
For The Year Ended 30 September 2024
Devonports LAS Accountants Ltd
Cumberland House
24 - 28 Baxter Avenue
Southend on Sea
Essex
SS2 6HZ
Unaudited Financial Statements
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—6
Page 1
Balance Sheet
Registered number: 05950029
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 3 1,058 1,411
1,058 1,411
CURRENT ASSETS
Stocks 4 33,999 41,366
Debtors 5 7,581 2,215
Cash at bank and in hand 612 2,509
42,192 46,090
Creditors: Amounts Falling Due Within One Year 6 (41,378 ) (34,838 )
NET CURRENT ASSETS (LIABILITIES) 814 11,252
TOTAL ASSETS LESS CURRENT LIABILITIES 1,872 12,663
Creditors: Amounts Falling Due After More Than One Year 7 - (3,950 )
PROVISIONS FOR LIABILITIES
Deferred Taxation (339 ) (339 )
NET ASSETS 1,533 8,374
CAPITAL AND RESERVES
Called up share capital 8 100 100
Profit and Loss Account 1,433 8,274
SHAREHOLDERS' FUNDS 1,533 8,374
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For the year ending 30 September 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his 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 Salvatore Cirasuolo
Director
08/04/2025
The notes on pages 3 to 6 form part of these financial statements.
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Notes to the Financial Statements
1. Accounting Policies
1.1. 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.
1.2. 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.
1.3. 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:
Motor Vehicles 20 % on reducing balance
Computer Equipment 20 % on reducing balance
1.4. 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.
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1.5. 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.
2. Average Number of Employees
Average number of employees, including directors, during the year was as follows: 2 (2023: 2)
2 2
3. Tangible Assets
Motor Vehicles Computer Equipment Total
£ £ £
Cost
As at 1 October 2023 5,747 7,011 12,758
As at 30 September 2024 5,747 7,011 12,758
Depreciation
As at 1 October 2023 5,505 5,842 11,347
Provided during the period 61 292 353
As at 30 September 2024 5,566 6,134 11,700
Net Book Value
As at 30 September 2024 181 877 1,058
As at 1 October 2023 242 1,169 1,411
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4. Stocks
2024 2023
£ £
Stock 33,999 41,366
5. Debtors
2024 2023
£ £
Due within one year
Trade debtors 5,819 -
Prepayments and accrued income 1,569 2,215
Other taxes and social security 193 -
7,581 2,215
6. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 290 2,434
Bank loans and overdrafts 8,535 1,667
Corporation tax - 2,720
Other taxes and social security - 246
VAT 4,650 2,827
Net wages 4,200 -
Credit Card 1,556 2,501
Pension Control 39 69
Accruals and deferred income 1,800 1,200
Director's loan account 20,308 21,174
41,378 34,838
7. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Bank loans - 3,950
- 3,950
8. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 100 100
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9. General Information
Intelli Heat Limited is a private company, limited by shares, incorporated in England & Wales, registered number 05950029 . The registered office is 1 Waterloo Close, Thetford, Kilverstone, Norfolk, IP24 2ZD.
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