17 31/05/2023 2023-05-31 false false false false false false false false false false true false false true false false false false false false false No description of principal activities is disclosed 2022-06-01 Sage Accounts Production 21.0 - FRS102_2021 xbrli:pure xbrli:shares iso4217:GBP 07246693 2022-06-01 2023-05-31 07246693 2023-05-31 07246693 2022-05-31 07246693 2021-06-01 2022-05-31 07246693 2022-05-31 07246693 bus:OrdinaryShareClass1 2022-06-01 2023-05-31 07246693 bus:OrdinaryShareClass2 2022-06-01 2023-05-31 07246693 bus:Director1 2022-06-01 2023-05-31 07246693 core:FurnitureFittingsToolsEquipment 2022-05-31 07246693 core:FurnitureFittingsToolsEquipment 2023-05-31 07246693 core:WithinOneYear 2023-05-31 07246693 core:WithinOneYear 2022-05-31 07246693 core:ShareCapital 2023-05-31 07246693 core:ShareCapital 2022-05-31 07246693 core:RetainedEarningsAccumulatedLosses 2023-05-31 07246693 core:RetainedEarningsAccumulatedLosses 2022-05-31 07246693 bus:OrdinaryShareClass1 core:ShareCapital 2023-05-31 07246693 bus:OrdinaryShareClass1 core:ShareCapital 2022-05-31 07246693 core:FurnitureFittingsToolsEquipment 2022-06-01 2023-05-31 07246693 core:FurnitureFittingsToolsEquipment 2022-05-31 07246693 bus:SmallEntities 2022-06-01 2023-05-31 07246693 bus:AuditExempt-NoAccountantsReport 2022-06-01 2023-05-31 07246693 bus:FullAccounts 2022-06-01 2023-05-31 07246693 bus:SmallCompaniesRegimeForAccounts 2022-06-01 2023-05-31 07246693 bus:PrivateLimitedCompanyLtd 2022-06-01 2023-05-31
Company registration number: 07246693
Scorchsoft Ltd
Unaudited filleted financial statements
31 May 2023
Scorchsoft Ltd
Contents
Statement of financial position
Notes to the financial statements
Scorchsoft Ltd
Statement of financial position
31 May 2023
2023 2022
Note £ £ £ £
Fixed assets
Tangible assets 5 9,956 16,326
_______ _______
9,956 16,326
Current assets
Debtors 6 74,311 46,386
Cash at bank and in hand 450,864 313,601
_______ _______
525,175 359,987
Creditors: amounts falling due
within one year 7 ( 139,407) ( 129,734)
_______ _______
Net current assets 385,768 230,253
_______ _______
Total assets less current liabilities 395,724 246,579
_______ _______
Net assets 395,724 246,579
_______ _______
Capital and reserves
Called up share capital 8 10 10
Profit and loss account 395,714 246,569
_______ _______
Shareholder funds 395,724 246,579
_______ _______
For the year ending 31 May 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
- The member has not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;
- The director acknowledges their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
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.
These financial statements were approved by the board of directors and authorised for issue on 29 January 2024 , and are signed on behalf of the board by:
Mr A L Ward
Director
Company registration number: 07246693
Scorchsoft Ltd
Notes to the financial statements
Year ended 31 May 2023
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is, 13 Portland Road, Edgbaston, Birmingham, B16 9HN. The business address is Unit 2.03 Assay Studios, 141 Newhall Street, Birmingham, B3 1SF.
2. Statement of compliance
These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and 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 and have been rounded to the nearest £1.
Turnover
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax.
Revenue from the sale of goods is recognised when the significant risks and rewards of ownership 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.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the statement of comprehensive income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, 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.
Tangible assets
tangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated depreciation and impairment losses.
Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated 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:
Fittings fixtures and equipment - 20% & 33.33% straight line
If there is an indication that there has been a significant change in depreciation rate, useful life or residual value of tangible assets, the depreciation is revised prospectively to reflect the new estimates.
Government grants
Government grants are recognised at the fair value of the asset received or receivable. Grants are not recognised until there is reasonable assurance that the company will comply with the conditions attaching to them and the grants will be received.
Government grants are recognised using the accrual model and the performance model.
Under the accrual model, government grants relating to revenue are recognised on a systematic basis over the periods in which the company recognises the related costs for which the grant is intended to compensate. Grants that are receivable as compensation for expenses or losses already incurred or for the purpose of giving immediate financial support to the entity with no future related costs are recognised in income in the period in which it becomes receivable.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised in finance costs in profit or loss in the period in which it arises.
Debtors and creditors receivable/payable within one year
Debtors and creditors with no stated interest rate and receivable and payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 17 (2022: 16 ).
5. Tangible assets
Fixtures, fittings and equipment Total
£ £
Cost
At 1 June 2022 49,297 49,297
Additions 5,490 5,490
_______ _______
At 31 May 2023 54,787 54,787
_______ _______
Depreciation
At 1 June 2022 32,971 32,971
Charge for the year 11,860 11,860
_______ _______
At 31 May 2023 44,831 44,831
_______ _______
Carrying amount
At 31 May 2023 9,956 9,956
_______ _______
At 31 May 2022 16,326 16,326
_______ _______
6. Debtors
2023 2022
£ £
Trade debtors 70,665 43,367
Other debtors 3,646 3,019
_______ _______
74,311 46,386
_______ _______
7. Creditors: amounts falling due within one year
2023 2022
£ £
Corporation tax 50,080 18,505
Social security and other taxes 81,388 60,710
Other creditors 7,939 50,519
_______ _______
139,407 129,734
_______ _______
8. Called up share capital
Issued, called up and fully paid
2023 2022
No £ No £
A Ordinary shares of £ 0.01 each 750 8 750 8
B Ordinary shares of £ 0.01 each 250 2 250 2
_______ _______ _______ _______
1,000 10 1,000 10
_______ _______ _______ _______