Acorah Software Products - Accounts Production 16.3.350 false true 31 March 2023 1 April 2022 false 1 April 2023 31 March 2024 31 March 2024 06855518 Mr John Feechan iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 06855518 2023-03-31 06855518 2024-03-31 06855518 2023-04-01 2024-03-31 06855518 frs-core:CurrentFinancialInstruments 2024-03-31 06855518 frs-core:Non-currentFinancialInstruments 2024-03-31 06855518 frs-core:ShareCapital 2024-03-31 06855518 frs-core:RetainedEarningsAccumulatedLosses 2024-03-31 06855518 frs-bus:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 06855518 frs-bus:FilletedAccounts 2023-04-01 2024-03-31 06855518 frs-bus:SmallEntities 2023-04-01 2024-03-31 06855518 frs-bus:AuditExempt-NoAccountantsReport 2023-04-01 2024-03-31 06855518 frs-bus:SmallCompaniesRegimeForAccounts 2023-04-01 2024-03-31 06855518 frs-bus:Director1 2023-04-01 2024-03-31 06855518 frs-bus:Director1 2023-03-31 06855518 frs-bus:Director1 2024-03-31 06855518 frs-countries:EnglandWales 2023-04-01 2024-03-31 06855518 2022-03-31 06855518 2023-03-31 06855518 2022-04-01 2023-03-31 06855518 frs-core:CurrentFinancialInstruments 2023-03-31 06855518 frs-core:Non-currentFinancialInstruments 2023-03-31 06855518 frs-core:ShareCapital 2023-03-31 06855518 frs-core:RetainedEarningsAccumulatedLosses 2023-03-31
Registered number: 06855518
Intelligent Commercial Finance Limited
Financial Statements
For The Year Ended 31 March 2024
Contents
Page
Balance Sheet 1
Notes to the Financial Statements 2—3
Page 1
Balance Sheet
Registered number: 06855518
2024 2023
Notes £ £ £ £
CURRENT ASSETS
Debtors 4 42,367 52,049
42,367 52,049
Creditors: Amounts Falling Due Within One Year 5 (44,046 ) (43,121 )
NET CURRENT ASSETS (LIABILITIES) (1,679 ) 8,928
TOTAL ASSETS LESS CURRENT LIABILITIES (1,679 ) 8,928
Creditors: Amounts Falling Due After More Than One Year 6 (27,643 ) (26,985 )
NET LIABILITIES (29,322 ) (18,057 )
CAPITAL AND RESERVES
Called up share capital 7 100 100
Profit and Loss Account (29,422 ) (18,157 )
SHAREHOLDERS' FUNDS (29,322) (18,057)
For the year ending 31 March 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 John Feechan
Director
13/05/2025
The notes on pages 2 to 3 form part of these financial statements.
Page 1
Page 2
Notes to the Financial Statements
1. General Information
Intelligent Commercial Finance Limited is a private company, limited by shares, incorporated in England & Wales, registered number 06855518 . The registered office is 172-174 Albert Road, Jarrow, NE32 5JA.
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.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 1 (2023: 1)
1 1
4. Debtors
2024 2023
£ £
Due within one year
Director's loan account 37,048 46,730
Due after more than one year
Corporation tax recoverable assets 5,319 5,319
42,367 52,049
5. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Bank loans and overdrafts 25 -
Corporation tax 41,561 41,561
Accruals and deferred income 2,460 1,560
44,046 43,121
6. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Bank loans 27,643 26,985
Page 2
Page 3
7. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 100 100
8. Directors Advances, Credits and Guarantees
Included within Debtors are the following loans to directors:
As at 1 April 2023 Amounts advanced Amounts repaid Amounts written off As at 31 March 2024
£ £ £ £ £
Mr John Feechan 47,054 - - - -
The above loan is unsecured, interest free and repayable on demand.
Page 3