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DIRECT SOFTWARE LIMITED

Registered Number
SC586179
(Scotland)

Unaudited Financial Statements for the Year ended
31 January 2023

DIRECT SOFTWARE LIMITED
Company Information
for the year from 1 February 2022 to 31 January 2023

Directors

K P A,BAKER
R D P, BAKER

Registered Address

53 Bothwell Street
Glasgow
G2 6TS

Registered Number

SC586179 (Scotland)
DIRECT SOFTWARE LIMITED
Balance Sheet as at
31 January 2023

Notes

2023

2022

£

£

£

£

Fixed assets
Tangible assets54,3356,740
4,3356,740
Current assets
Debtors64,818156,778
Cash at bank and on hand127,60455,296
132,422212,074
Creditors amounts falling due within one year7(126,705)(197,413)
Net current assets (liabilities)5,71714,661
Total assets less current liabilities10,05221,401
Creditors amounts falling due after one year8(30,930)-
Provisions for liabilities95,5532,250
Accruals and deferred income(14,290)(8,212)
Net assets(29,615)15,439
Capital and reserves
Called up share capital179179
Share premium9,4187,381
Profit and loss account(39,212)7,879
Shareholders' funds(29,615)15,439
The financial statements were approved and authorised for issue by the Board of Directors on 24 October 2023, and are signed on its behalf by:
R D P, BAKER
Director
Registered Company No. SC586179
DIRECT SOFTWARE LIMITED
Notes to the Financial Statements
for the year ended 31 January 2023

1.Statutory information
The company is a private company limited by shares and registered in Scotland. The company's registered number and registered office address can be found on the Company Information page.
2.Compliance with applicable reporting framework
The financial statements have been prepared in compliance with FRS 102 Section 1A as it applies to the financial statements for the period and there were no material departures from the reporting standard.
3.Accounting policies
Property, plant and equipment policy
Tangible fixed assets are stated at cost or valuation less depreciation. Depreciation is provided on all tangible fixed assets as follows:

Reducing balance (%)
Office Equipment33
Revenue recognition policy
Revenue is recognised to the extent that it is probable that the economic benefits will flow to the company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.
Foreign currency translation and operations policy
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
Employee benefits policy
Contributions to defined contribution plans are expensed in the period to which they relate.
4.Employee information

20232022
Average number of employees during the year58
5.Property, plant and equipment

Office Equipment

Total

££
Cost or valuation
At 01 February 2210,85510,855
Additions1,5831,583
Disposals(1,062)(1,062)
At 31 January 2311,37611,376
Depreciation and impairment
At 01 February 224,1154,115
Charge for year3,4573,457
On disposals(531)(531)
At 31 January 237,0417,041
Net book value
At 31 January 234,3354,335
At 31 January 226,7406,740
6.Debtors

2023

2022

££
Trade debtors / trade receivables2,56482,737
Other debtors7373,207
Prepayments and accrued income2,181834
Total4,818156,778
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
7.Creditors within one year

2023

2022

££
Trade creditors / trade payables10,2979,629
Bank borrowings and overdrafts9,33047,960
Amounts owed to related parties26,90726,631
Taxation and social security7,37953,223
Other creditors8,09220,875
Accrued liabilities and deferred income64,70039,095
Total126,705197,413
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
8.Creditors after one year

2023

2022

££
Bank borrowings and overdrafts30,930-
Total30,930-
9.Provisions for liabilities

2023

2022

££
Other provisions(5,553)(2,250)
Total(5,553)(2,250)