Acorah Software Products - Accounts Production 14.5.601 false true 31 July 2022 1 August 2021 false 1 August 2022 31 July 2023 31 July 2023 SC372678 Ms K Bathgate AS Company Services Limited iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure SC372678 2022-07-31 SC372678 2023-07-31 SC372678 2022-08-01 2023-07-31 SC372678 frs-core:CurrentFinancialInstruments 2023-07-31 SC372678 frs-core:Non-currentFinancialInstruments 2023-07-31 SC372678 frs-core:ComputerEquipment 2023-07-31 SC372678 frs-core:ComputerEquipment 2022-08-01 2023-07-31 SC372678 frs-core:ComputerEquipment 2022-07-31 SC372678 frs-core:FurnitureFittings 2023-07-31 SC372678 frs-core:FurnitureFittings 2022-08-01 2023-07-31 SC372678 frs-core:FurnitureFittings 2022-07-31 SC372678 frs-core:ShareCapital 2023-07-31 SC372678 frs-core:RetainedEarningsAccumulatedLosses 2023-07-31 SC372678 frs-bus:PrivateLimitedCompanyLtd 2022-08-01 2023-07-31 SC372678 frs-bus:FilletedAccounts 2022-08-01 2023-07-31 SC372678 frs-bus:SmallEntities 2022-08-01 2023-07-31 SC372678 frs-bus:AuditExempt-NoAccountantsReport 2022-08-01 2023-07-31 SC372678 frs-bus:SmallCompaniesRegimeForAccounts 2022-08-01 2023-07-31 SC372678 frs-bus:Director1 2022-08-01 2023-07-31 SC372678 frs-bus:CompanySecretary1 2022-08-01 2023-07-31 SC372678 frs-countries:Scotland 2022-08-01 2023-07-31 SC372678 2021-07-31 SC372678 2022-07-31 SC372678 2021-08-01 2022-07-31 SC372678 frs-core:CurrentFinancialInstruments 2022-07-31 SC372678 frs-core:Non-currentFinancialInstruments 2022-07-31 SC372678 frs-core:ShareCapital 2022-07-31 SC372678 frs-core:RetainedEarningsAccumulatedLosses 2022-07-31
Registered number: SC372678
Gearing For Growth Limited
Unaudited Financial Statements
For The Year Ended 31 July 2023
Sense Accounting Limited
36 Bruntsfield Place
Edinburgh
EH10 4HJ
Unaudited Financial Statements
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: SC372678
2023 2022
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 421 458
421 458
CURRENT ASSETS
Debtors 5 64,228 65,856
Cash at bank and in hand 133,227 175,898
197,455 241,754
Creditors: Amounts Falling Due Within One Year 6 (39,678 ) (75,198 )
NET CURRENT ASSETS (LIABILITIES) 157,777 166,556
TOTAL ASSETS LESS CURRENT LIABILITIES 158,198 167,014
Creditors: Amounts Falling Due After More Than One Year 7 (10,489 ) (16,015 )
PROVISIONS FOR LIABILITIES
Deferred Taxation (80 ) (87 )
NET ASSETS 147,629 150,912
CAPITAL AND RESERVES
Called up share capital 8 100 100
Profit and Loss Account 147,529 150,812
SHAREHOLDERS' FUNDS 147,629 150,912
Page 1
Page 2
For the year ending 31 July 2023 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 her 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
Ms K Bathgate
Director
19 April 2024
The notes on pages 3 to 5 form part of these financial statements.
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Page 3
Notes to the Financial Statements
1. General Information
Gearing For Growth Limited is a private company, limited by shares, incorporated in Scotland, registered number SC372678 . The registered office is C/O Anderson Strathern Llp, 58 Morrison Street, Edinburgh, EH3 8BP.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
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 rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
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 measured at cost less accumulated depreciation and any accumulated impairment losses. 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:
Fixtures & Fittings 25% Reducing Balance
Computer Equipment 25% Straight Line
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 years 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.
...CONTINUED
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2.4. Taxation - continued
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 assets reflect 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.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 4 (2022: 2)
4 2
4. Tangible Assets
Fixtures & Fittings Computer Equipment Total
£ £ £
Cost
As at 1 August 2022 304 2,661 2,965
Additions 167 217 384
As at 31 July 2023 471 2,878 3,349
Depreciation
As at 1 August 2022 250 2,257 2,507
Provided during the period 38 383 421
As at 31 July 2023 288 2,640 2,928
Net Book Value
As at 31 July 2023 183 238 421
As at 1 August 2022 54 404 458
5. Debtors
2023 2022
£ £
Due within one year
Trade debtors 11,342 10,395
Prepayments and accrued income 1,528 1,528
Other debtors 51,358 51,000
Other taxes and social security - 2,933
64,228 65,856
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6. Creditors: Amounts Falling Due Within One Year
2023 2022
£ £
Trade creditors 1,376 2,823
Bank loans and overdrafts 5,526 5,358
Corporation tax 15,646 20,160
Other taxes and social security 39 -
VAT 7,362 8,834
Wages payable - 63
Other creditors 1,455 869
Accruals and deferred income 6,768 25,412
Director's loan account 1,506 11,679
39,678 75,198
7. Creditors: Amounts Falling Due After More Than One Year
2023 2022
£ £
Bank loans 10,489 16,015
10,489 16,015
8. Share Capital
2023 2022
£ £
Allotted, Called up and fully paid 100 100
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