Acorah Software Products - Accounts Production 12.4.002 false No description of principal activity 1 April 2021 31 March 2022 31 March 2022 SC499871 Mr Qamar Younas Mr Robert Forrest iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure SC499871 2021-03-31 SC499871 2022-03-31 SC499871 2021-04-01 2022-03-31 SC499871 frs-core:CurrentFinancialInstruments 2022-03-31 SC499871 frs-core:CurrentFinancialInstruments 2021-04-01 2022-03-31 SC499871 frs-core:Non-currentFinancialInstruments 2022-03-31 SC499871 frs-core:Non-currentFinancialInstruments 2021-04-01 2022-03-31 SC499871 frs-core:CurrentFinancialInstruments 2021-04-01 2022-03-31 SC499871 frs-core:CurrentFinancialInstruments 2022-03-31 SC499871 frs-core:AfterOneYear 2021-04-01 2022-03-31 SC499871 frs-core:BetweenOneFiveYears 2021-04-01 2022-03-31 SC499871 frs-core:BetweenOneFiveYears 2022-03-31 SC499871 frs-core:ComputerEquipment 2022-03-31 SC499871 frs-core:ComputerEquipment 2021-04-01 2022-03-31 SC499871 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Registered number: SC499871
645 FM LTD
Directors' Report and
Unaudited Financial Statements
For The Year Ended 31 March 2022
Directors' Report and Unaudited Financial Statements
Contents
Page
Company Information 1
Directors' Report 2
Profit and Loss Account 3
Balance Sheet 4—5
Notes to the Financial Statements 6—7
Page 1
Company Information
Directors Mr Qamar Younas
Mr Robert Forrest
Company Number SC499871
Registered Office 45b Main Street
Thornliebank
Glasgow
G46 7SF
Page 1
Page 2
Directors' Report
The directors present their report and the financial statements for the year ended 31 March 2022 .
Statement of Directors' Responsibilities
The directors are responsible for preparing the Directors' Report and the financial statements in accordance with applicable law and regulations.
Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing the financial statements the directors are required to:
  • select suitable accounting policies and then apply them consistently;
  • make judgments and accounting estimates that are reasonable and prudent;
  • prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.
The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
Directors
The directors who held office during the year were as follows:
Mr Qamar Younas
Mr Gordon Yuen RESIGNED 28/02/2022
Small Company Rules
This report has been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.
On behalf of the board
Mr Robert Forrest
Director
12/08/2022
Page 2
Page 3
Profit and Loss Account
2022 2021
Notes £ £
TURNOVER 859,157 417,740
Cost of sales (605,700 ) (365,405 )
GROSS PROFIT 253,457 52,335
Administrative expenses (208,655 ) (174,888 )
Other operating income - 69,703
OPERATING PROFIT/(LOSS) 44,802 (52,850 )
Interest payable and similar charges (2,702 ) -
PROFIT/(LOSS) FOR THE FINANCIAL YEAR 42,100 (52,850 )
The notes on pages 6 to 7 form part of these financial statements.
Page 3
Page 4
Balance Sheet
2022 2021
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 3 75,432 40,402
75,432 40,402
CURRENT ASSETS
Stocks 4 31,370 15,944
Debtors 5 88,684 63,458
Cash at bank and in hand 44,924 24,714
164,978 104,116
Creditors: Amounts Falling Due Within One Year 6 (69,037 ) (94,387 )
NET CURRENT ASSETS (LIABILITIES) 95,941 9,729
TOTAL ASSETS LESS CURRENT LIABILITIES 171,373 50,131
Creditors: Amounts Falling Due After More Than One Year 7 (69,393 ) (90,101 )
NET ASSETS/(LIABILITIES) 101,980 (39,970 )
CAPITAL AND RESERVES
Called up share capital 8 100,000 150
Profit and Loss Account 1,980 (40,120 )
SHAREHOLDERS' FUNDS 101,980 (39,970)
Page 4
Page 5
For the year ending 31 March 2022 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 in accordance with the provisions applicable to companies subject to the small companies' regime.
On behalf of the board
Mr Robert Forrest
Director
12/08/2022
The notes on pages 6 to 7 form part of these financial statements.
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Page 6
Notes to the Financial Statements
1. Accounting Policies
1.1. Basis of Preparation of Financial Statements
The financial statements are prepared under the historical cost convention and in accordance with the FRS 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:
Freehold 0 %
Plant & Machinery 15 - 20 %
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.
2. Average Number of Employees
Average number of employees, including directors, during the year was as follows: 8 (2021: 7)
8 7
3. Tangible Assets
Land & Property
Freehold Plant & Machinery Total
£ £ £
Cost
As at 1 April 2021 40,000 628 40,628
Additions - 35,130 35,130
As at 31 March 2022 40,000 35,758 75,758
Depreciation
As at 1 April 2021 - 226 226
Provided during the period - 100 100
As at 31 March 2022 - 326 326
Net Book Value
As at 31 March 2022 40,000 35,432 75,432
As at 1 April 2021 40,000 402 40,402
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4. Stocks
2022 2021
£ £
Stock - materials and work in progress 31,370 15,944
31,370 15,944
5. Debtors
2022 2021
£ £
Due within one year
Trade debtors 88,684 63,458
88,684 63,458
6. Creditors: Amounts Falling Due Within One Year
2022 2021
£ £
Trade creditors 31,684 36,056
Bank loans and overdrafts 12,147 -
Other taxes and social security 24,306 94,640
Other creditors (1) - (37,209 )
Accruals and deferred income 900 900
69,037 94,387
7. Creditors: Amounts Falling Due After More Than One Year
2022 2021
£ £
Bank loans 69,393 90,101
69,393 90,101
8. Share Capital
2022 2021
Allotted, Called up and fully paid 100,000 150
9. General Information
645 FM LTD is a private company, limited by shares, incorporated in Scotland, registered number SC499871 . The registered office is 45b Main Street, Thornliebank, Glasgow, G46 7SF.
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