Acorah Software Products - Accounts Production 14.5.601 false true 31 March 2023 1 April 2022 false 1 April 2023 31 March 2024 31 March 2024 SC344150 Mr Alan Donoghue true iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure SC344150 2023-03-31 SC344150 2024-03-31 SC344150 2023-04-01 2024-03-31 SC344150 frs-core:CurrentFinancialInstruments 2024-03-31 SC344150 frs-core:Non-currentFinancialInstruments 2024-03-31 SC344150 frs-core:ComputerEquipment 2024-03-31 SC344150 frs-core:ComputerEquipment 2023-04-01 2024-03-31 SC344150 frs-core:ComputerEquipment 2023-03-31 SC344150 frs-core:FurnitureFittings 2024-03-31 SC344150 frs-core:FurnitureFittings 2023-04-01 2024-03-31 SC344150 frs-core:FurnitureFittings 2023-03-31 SC344150 frs-core:MotorVehicles 2023-04-01 2024-03-31 SC344150 frs-core:PlantMachinery 2024-03-31 SC344150 frs-core:PlantMachinery 2023-04-01 2024-03-31 SC344150 frs-core:PlantMachinery 2023-03-31 SC344150 frs-core:ShareCapital 2024-03-31 SC344150 frs-core:RetainedEarningsAccumulatedLosses 2024-03-31 SC344150 frs-bus:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 SC344150 frs-bus:FilletedAccounts 2023-04-01 2024-03-31 SC344150 frs-bus:SmallEntities 2023-04-01 2024-03-31 SC344150 frs-bus:AuditExempt-NoAccountantsReport 2023-04-01 2024-03-31 SC344150 frs-bus:SmallCompaniesRegimeForAccounts 2023-04-01 2024-03-31 SC344150 1 2023-04-01 2024-03-31 SC344150 frs-bus:Director1 2023-04-01 2024-03-31 SC344150 frs-countries:Scotland 2023-04-01 2024-03-31 SC344150 2022-03-31 SC344150 2023-03-31 SC344150 2022-04-01 2023-03-31 SC344150 frs-core:CurrentFinancialInstruments 2023-03-31 SC344150 frs-core:Non-currentFinancialInstruments 2023-03-31 SC344150 frs-core:ShareCapital 2023-03-31 SC344150 frs-core:RetainedEarningsAccumulatedLosses 2023-03-31
Registered number: SC344150
Donoghue & Co. Limited
Financial Statements
For The Year Ended 31 March 2024
Donoghue & Co. Ltd
19a Wellside Place
Falkirk
FK1 5RL
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: SC344150
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 2,263 2,619
2,263 2,619
CURRENT ASSETS
Debtors 5 20,271 12,098
Cash at bank and in hand 61,813 57,951
82,084 70,049
Creditors: Amounts Falling Due Within One Year 6 (39,345 ) (30,871 )
NET CURRENT ASSETS (LIABILITIES) 42,739 39,178
TOTAL ASSETS LESS CURRENT LIABILITIES 45,002 41,797
Creditors: Amounts Falling Due After More Than One Year 7 (33,342 ) (39,739 )
NET ASSETS 11,660 2,058
CAPITAL AND RESERVES
Called up share capital 8 2 2
Profit and Loss Account 11,658 2,056
SHAREHOLDERS' FUNDS 11,660 2,058
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For the year ending 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr Alan Donoghue
Director
9th April 2024
The notes on pages 3 to 5 form part of these financial statements.
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Notes to the Financial Statements
1. General Information
Donoghue & Co. Limited Registered number SC344150 is a limited by shares company incorporated in Scotland. The Registered Office is 19a Wellside Place, Falkirk, FK1 5RL.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements are prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008).
2.2. 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 form the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover form 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.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are stated at cost less depreciation. 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:
Plant & Machinery 33% Reducing Balance
Motor Vehicles 25% Reducing Balance
Fixtures & Fittings 25% Reducing Balance
Computer Equipment 33% Reducing Balance
2.4. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other year and 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 end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period 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 assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and asset reflects the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current or deferred tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.
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3. Average Number of Employees
Average number of employees, including directors, during the year was:
2024 2023
Office and administration 7 7
7 7
4. Tangible Assets
Plant & Machinery Fixtures & Fittings Computer Equipment Total
£ £ £ £
Cost
As at 1 April 2023 419 1,179 10,094 11,692
Additions - - 916 916
As at 31 March 2024 419 1,179 11,010 12,608
Depreciation
As at 1 April 2023 279 1,179 7,615 9,073
Provided during the period 140 - 1,132 1,272
As at 31 March 2024 419 1,179 8,747 10,345
Net Book Value
As at 31 March 2024 - - 2,263 2,263
As at 1 April 2023 140 - 2,479 2,619
5. Debtors
2024 2023
£ £
Due within one year
Trade debtors 20,271 12,098
6. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 603 845
Bank loans and overdrafts 8,930 13,003
Corporation tax 9,689 4,916
Other taxes and social security 2,175 1,923
VAT 11,324 9,910
Other creditors 6,072 236
Director's loan account 552 38
39,345 30,871
7. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Bank loans 33,342 39,739
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8. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 2 2
9. Dividends
2024 2023
£ £
On equity shares:
Interim dividend paid 30,600 20,200
10. Ultimate Controlling Party
The company's ultimate controlling party is by virtue of his ownership of 100% of the issued share capital in the company.
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