1
false
false
false
false
false
false
false
false
false
false
true
false
false
false
false
false
false
No description of principal activity
2022-04-01
Sage Accounts Production Advanced 2023 - FRS102_2023
51,178
32,898
5,740
38,638
12,540
18,280
xbrli:pure
xbrli:shares
iso4217:GBP
SC483799
2022-04-01
2023-03-31
SC483799
2023-03-31
SC483799
2022-03-31
SC483799
2021-04-01
2022-03-31
SC483799
2022-03-31
SC483799
2021-03-31
SC483799
core:FurnitureFittings
2022-04-01
2023-03-31
SC483799
bus:OrdinaryShareClass1
2022-04-01
2023-03-31
SC483799
bus:Director4
2022-04-01
2023-03-31
SC483799
core:FurnitureFittings
2022-03-31
SC483799
core:FurnitureFittings
2023-03-31
SC483799
core:AfterOneYear
2023-03-31
SC483799
core:AfterOneYear
2022-03-31
SC483799
core:WithinOneYear
2023-03-31
SC483799
core:WithinOneYear
2022-03-31
SC483799
core:ShareCapital
2023-03-31
SC483799
core:ShareCapital
2022-03-31
SC483799
core:RetainedEarningsAccumulatedLosses
2023-03-31
SC483799
core:RetainedEarningsAccumulatedLosses
2022-03-31
SC483799
core:FurnitureFittings
2022-03-31
SC483799
bus:SmallEntities
2022-04-01
2023-03-31
SC483799
bus:AuditExemptWithAccountantsReport
2022-04-01
2023-03-31
SC483799
bus:SmallCompaniesRegimeForAccounts
2022-04-01
2023-03-31
SC483799
bus:PrivateLimitedCompanyLtd
2022-04-01
2023-03-31
SC483799
bus:FullAccounts
2022-04-01
2023-03-31
SC483799
bus:OrdinaryShareClass1
2023-03-31
SC483799
bus:OrdinaryShareClass1
2022-03-31
SC483799
core:ComputerSoftware
2022-04-01
2023-03-31
SC483799
core:ComputerEquipment
2022-04-01
2023-03-31
SC483799
core:ComputerSoftware
2023-03-31
SC483799
core:ComputerSoftware
2022-03-31
SC483799
core:ComputerEquipment
2023-03-31
SC483799
core:ComputerEquipment
2022-03-31
COMPANY REGISTRATION NUMBER:
SC483799
Filleted Unaudited Financial Statements |
|
Statement of Financial Position |
|
31 March 2023
Fixed assets
Intangible assets |
5 |
12,540 |
18,280 |
Tangible assets |
6 |
– |
1,062 |
|
-------- |
-------- |
|
12,540 |
19,342 |
|
|
|
|
Current assets
Debtors |
7 |
256,559 |
259,968 |
Cash at bank and in hand |
104,119 |
373,889 |
|
--------- |
--------- |
|
360,678 |
633,857 |
|
|
|
|
Creditors: amounts falling due within one year |
8 |
343,207 |
574,041 |
|
--------- |
--------- |
Net current assets |
17,471 |
59,816 |
|
-------- |
-------- |
Total assets less current liabilities |
30,011 |
79,158 |
|
|
|
|
Creditors: amounts falling due after more than one year |
9 |
22,500 |
32,500 |
|
|
|
|
Provisions |
– |
404 |
|
-------- |
-------- |
Net assets |
7,511 |
46,254 |
|
-------- |
-------- |
|
|
|
Capital and reserves
Called up share capital |
10 |
100 |
100 |
Profit and loss account |
7,411 |
46,154 |
|
------- |
-------- |
Shareholders funds |
7,511 |
46,254 |
|
------- |
-------- |
|
|
|
|
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the year ending 31 March 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
-
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
;
-
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements
.
Statement of Financial Position (continued) |
|
31 March 2023
These financial statements were approved by the
board of directors
and authorised for issue on
16 November 2023
, and are signed on behalf of the board by:
Company registration number:
SC483799
Notes to the Financial Statements |
|
Year ended 31 March 2023
1.
General information
The company is a private company limited by shares, registered in Scotland. The address of the registered office is Forth House, Rutland Square, EH1 2BW, Edinburgh.
2.
Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3.
Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Going Concern The financial statements have been prepared on a going concern basis. The director has assessed the Company's ability to continue as a going concern and has a reasonable expectation that the Company has adequate resources to continue in operational existence for the foreseeable future. Thus he continues to adopt the going concern basis of accounting in preparing these financial statements.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for goods supplied and services rendered, stated net of discounts and of Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer, usually on despatch of the goods, the amount of revenue can be measured reliably, it is probable that the associated economic benefits will flow to the entity, and the costs incurred or to be incurred in respect of the transactions can be measured reliably. Revenue from services encompasses consultancy income and support and maintenance income. Revenue from consultancy is recognised when the service is rendered. Revenue from support and maintenance is initially held as deferred income in the Statement of Financial Position, and subsequently recognised as turnover in the Statement of Income on a straight line basis over the life of the contract.
Income tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
Intangible assets
Intangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated amortisation and impairment losses. Any intangible assets carried at revalued amounts, are recorded at the fair value at the date of revaluation, as determined by reference to an active market, less any subsequent accumulated amortisation and subsequent accumulated impairment losses. Intangible assets acquired as part of a business combination are only recognised separately from goodwill when they arise from contractual or other legal rights, are separable, the expected future economic benefits are probable and the cost or value can be measured reliably.
Amortisation
Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of that asset as follows:
|
Computer Software |
- |
33% straight line |
|
|
|
|
If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
|
Fixtures and fittings |
- |
20% straight line |
|
Computer Equipment |
- |
33% straight line |
|
|
|
|
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.
Provisions
Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised as a finance cost in profit or loss in the period it arises.
Financial instruments
A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument. Basic financial assets, which include trade debtors, prepaid expenses and cash at bank, are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Basic financial liabilities, which include trade and other creditors, accrued expenses and a directors loan account are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. At each reporting date the company assesses whether there is objective evidence that any financial asset has been impaired. A provision for impairment is established when there is objective evidence that the company will not be able to collect all amounts due. The amount of the provision is recognised immediately in profit or loss.
4.
Employee numbers
The average number of persons employed by the company during the year amounted to
1
(2022:
1
).
5.
Intangible assets
|
Computer Software |
|
£ |
Cost |
|
At 1 April 2022 and 31 March 2023 |
51,178 |
|
-------- |
Amortisation |
|
At 1 April 2022 |
32,898 |
Charge for the year |
5,740 |
|
-------- |
At 31 March 2023 |
38,638 |
|
-------- |
Carrying amount |
|
At 31 March 2023 |
12,540 |
|
-------- |
At 31 March 2022 |
18,280 |
|
-------- |
|
|
6.
Tangible assets
|
Fixtures and fittings |
Computer Equipment |
Total |
|
£ |
£ |
£ |
Cost |
|
|
|
At 1 April 2022 and 31 March 2023 |
204 |
7,136 |
7,340 |
|
---- |
------- |
------- |
Depreciation |
|
|
|
At 1 April 2022 |
163 |
6,115 |
6,278 |
Charge for the year |
41 |
1,021 |
1,062 |
|
---- |
------- |
------- |
At 31 March 2023 |
204 |
7,136 |
7,340 |
|
---- |
------- |
------- |
Carrying amount |
|
|
|
At 31 March 2023 |
– |
– |
– |
|
---- |
------- |
------- |
At 31 March 2022 |
41 |
1,021 |
1,062 |
|
---- |
------- |
------- |
|
|
|
|
7.
Debtors
|
2023 |
2022 |
|
£ |
£ |
Other debtors |
256,559 |
259,968 |
|
--------- |
--------- |
|
|
|
8.
Creditors:
amounts falling due within one year
|
2023 |
2022 |
|
£ |
£ |
Trade creditors |
1,666 |
205,731 |
Corporation tax |
– |
15,569 |
Social security and other taxes |
8,147 |
21,629 |
Other creditors |
333,394 |
331,112 |
|
--------- |
--------- |
|
343,207 |
574,041 |
|
--------- |
--------- |
|
|
|
9.
Creditors:
amounts falling due after more than one year
|
2023 |
2022 |
|
£ |
£ |
Bank loans and overdrafts |
22,500 |
32,500 |
|
-------- |
-------- |
|
|
|
10.
Called up share capital
Issued, called up and fully paid
|
2023 |
2022 |
|
No. |
£ |
No. |
£ |
Ordinary shares of £ 1 each |
100 |
100 |
100 |
100 |
|
---- |
---- |
---- |
---- |
|
|
|
|
|