Company registration number SC210126 (Scotland)
UTOPIA COMPUTERS LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2023
PAGES FOR FILING WITH REGISTRAR
UTOPIA COMPUTERS LIMITED
CONTENTS
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 5
UTOPIA COMPUTERS LIMITED
BALANCE SHEET
AS AT
30 APRIL 2023
30 April 2023
- 1 -
2023
2022
Notes
£
£
£
£
Fixed assets
Intangible assets
3
2,392
9,492
Tangible assets
4
8,442
9,950
10,834
19,442
Current assets
Stocks
32,667
53,457
Debtors
46,889
35,910
Cash at bank and in hand
115,984
134,104
195,540
223,471
Creditors: amounts falling due within one year
(55,638)
(94,084)
Net current assets
139,902
129,387
Total assets less current liabilities
150,736
148,829
Provisions for liabilities
-
0
(3,694)
Net assets
150,736
145,135
Capital and reserves
Called up share capital
252
252
Profit and loss reserves
150,484
144,883
Total equity
150,736
145,135

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

For the financial year ended 30 April 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

UTOPIA COMPUTERS LIMITED
BALANCE SHEET (CONTINUED)
AS AT
30 APRIL 2023
30 April 2023
- 2 -
The financial statements were approved by the board of directors and authorised for issue on 10 November 2023 and are signed on its behalf by:
Craig McRae Hume
Director
Company Registration No. SC210126
UTOPIA COMPUTERS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2023
- 3 -
1
Accounting policies
Company information

Utopia Computers Limited is a private company limited by shares incorporated in Scotland. The registered office is 29/31 High Glencairn Street, Kilmarnock, United Kingdom, KA1 4AE.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention, [modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value]. The principal accounting policies adopted are set out below.

1.2
Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes.

1.3
Research and development expenditure

Research expenditure is written off against profits in the year in which it is incurred. Identifiable development expenditure is capitalised to the extent that the technical, commercial and financial feasibility can be demonstrated.

1.4
Intangible fixed assets other than goodwill

Intangible assets acquired separately from a business are recognised at cost and are subsequently measured at cost less accumulated amortisation and accumulated impairment losses.

 

Intangible assets acquired on business combinations are recognised separately from goodwill at the acquisition date where it is probable that the expected future economic benefits that are attributable to the asset will flow to the entity and the fair value of the asset can be measured reliably; the intangible asset arises from contractual or other legal rights; and the intangible asset is separable from the entity.

Amortisation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Online Platform
3 years straight line
1.5
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Fittings and equipment
20% on reducing balance

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

UTOPIA COMPUTERS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2023
1
Accounting policies
(Continued)
- 4 -
1.6
Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell, after making allowance for obsolete and slow moving items.

 

Cost is calculated using the first-in, first out method and includes all purchase, transport and handling costs in bringing stocks to their present location and condition.

1.7
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes 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 reporting end date.

Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

 

The carrying amount of deferred tax assets is reviewed at each reporting end date 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 is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.

1.8
Retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's scheme are charged to profit or loss in the period to which they relate.

2
Employees

The average monthly number of persons (including directors) employed by the company during the year was :

2023
2022
Number
Number
Total
16
16
UTOPIA COMPUTERS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2023
- 5 -
3
Intangible fixed assets
Online Platform
£
Cost
At 1 May 2022 and 30 April 2023
21,300
Amortisation and impairment
At 1 May 2022
11,808
Amortisation charged for the year
7,100
At 30 April 2023
18,908
Carrying amount
At 30 April 2023
2,392
At 30 April 2022
9,492
4
Tangible fixed assets
Fittings and equipment
£
Cost
At 1 May 2022
41,047
Additions
602
At 30 April 2023
41,649
Depreciation and impairment
At 1 May 2022
31,097
Depreciation charged in the year
2,110
At 30 April 2023
33,207
Carrying amount
At 30 April 2023
8,442
At 30 April 2022
9,950
2023-04-302022-05-01false10 November 2023CCH SoftwareCCH Accounts Production 2023.300No description of principal activityCraig McRae HumeMark LaurieKatherine Ann HumefalseSC2101262022-05-012023-04-30SC2101262023-04-30SC2101262022-04-30SC210126core:DevelopmentCostsCapitalisedDevelopmentExpenditure2023-04-30SC210126core:DevelopmentCostsCapitalisedDevelopmentExpenditure2022-04-30SC210126core:FurnitureFittings2023-04-30SC210126core:FurnitureFittings2022-04-30SC210126core:CurrentFinancialInstrumentscore:WithinOneYear2023-04-30SC210126core:CurrentFinancialInstrumentscore:WithinOneYear2022-04-30SC210126core:ShareCapital2023-04-30SC210126core:ShareCapital2022-04-30SC210126core:RetainedEarningsAccumulatedLosses2023-04-30SC210126core:RetainedEarningsAccumulatedLosses2022-04-30SC210126bus:Director12022-05-012023-04-30SC210126core:IntangibleAssetsOtherThanGoodwill2022-05-012023-04-30SC210126core:DevelopmentCostsCapitalisedDevelopmentExpenditure2022-05-012023-04-30SC210126core:FurnitureFittings2022-05-012023-04-30SC2101262021-05-012022-04-30SC210126core:DevelopmentCostsCapitalisedDevelopmentExpenditure2022-04-30SC210126core:FurnitureFittings2022-04-30SC210126bus:PrivateLimitedCompanyLtd2022-05-012023-04-30SC210126bus:SmallCompaniesRegimeForAccounts2022-05-012023-04-30SC210126bus:FRS1022022-05-012023-04-30SC210126bus:AuditExemptWithAccountantsReport2022-05-012023-04-30SC210126bus:Director22022-05-012023-04-30SC210126bus:Director32022-05-012023-04-30SC210126bus:FullAccounts2022-05-012023-04-30xbrli:purexbrli:sharesiso4217:GBP