Acorah Software Products - Accounts Production 14.5.501 false true 30 June 2022 1 July 2021 false 1 July 2022 30 June 2023 30 June 2023 SC569307 Mr James Paul iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure SC569307 2022-06-30 SC569307 2023-06-30 SC569307 2022-07-01 2023-06-30 SC569307 frs-core:CurrentFinancialInstruments 2023-06-30 SC569307 frs-core:Non-currentFinancialInstruments 2023-06-30 SC569307 frs-core:ComputerEquipment 2023-06-30 SC569307 frs-core:ComputerEquipment 2022-07-01 2023-06-30 SC569307 frs-core:ComputerEquipment 2022-06-30 SC569307 frs-core:LandBuildings frs-core:LeasedAssetsHeldAsLessee 2023-06-30 SC569307 frs-core:LandBuildings frs-core:LeasedAssetsHeldAsLessee 2022-07-01 2023-06-30 SC569307 frs-core:LandBuildings frs-core:LeasedAssetsHeldAsLessee 2022-06-30 SC569307 frs-core:MotorVehicles 2023-06-30 SC569307 frs-core:MotorVehicles 2022-07-01 2023-06-30 SC569307 frs-core:MotorVehicles 2022-06-30 SC569307 frs-core:PlantMachinery 2023-06-30 SC569307 frs-core:PlantMachinery 2022-07-01 2023-06-30 SC569307 frs-core:PlantMachinery 2022-06-30 SC569307 frs-core:ShareCapital 2023-06-30 SC569307 frs-core:RetainedEarningsAccumulatedLosses 2023-06-30 SC569307 frs-bus:PrivateLimitedCompanyLtd 2022-07-01 2023-06-30 SC569307 frs-bus:FilletedAccounts 2022-07-01 2023-06-30 SC569307 frs-bus:SmallEntities 2022-07-01 2023-06-30 SC569307 frs-bus:AuditExempt-NoAccountantsReport 2022-07-01 2023-06-30 SC569307 frs-bus:SmallCompaniesRegimeForAccounts 2022-07-01 2023-06-30 SC569307 frs-bus:Director1 2022-07-01 2023-06-30 SC569307 frs-countries:Scotland 2022-07-01 2023-06-30 SC569307 2021-06-30 SC569307 2022-06-30 SC569307 2021-07-01 2022-06-30 SC569307 frs-core:CurrentFinancialInstruments 2022-06-30 SC569307 frs-core:Non-currentFinancialInstruments 2022-06-30 SC569307 frs-core:ShareCapital 2022-06-30 SC569307 frs-core:RetainedEarningsAccumulatedLosses 2022-06-30
Registered number: SC569307
Vinyl Monkeys Ltd
Unaudited Financial Statements
For The Year Ended 30 June 2023
CMA Chartered Accountants
Unaudited Financial Statements
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—4
Page 1
Balance Sheet
Registered number: SC569307
2023 2022
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 31,391 36,435
31,391 36,435
CURRENT ASSETS
Stocks 5 4,621 4,621
Cash at bank and in hand 3,372 4,036
7,993 8,657
Creditors: Amounts Falling Due Within One Year 6 (16,749 ) (22,646 )
NET CURRENT ASSETS (LIABILITIES) (8,756 ) (13,989 )
TOTAL ASSETS LESS CURRENT LIABILITIES 22,635 22,446
Creditors: Amounts Falling Due After More Than One Year 7 (30,000 ) (35,000 )
NET LIABILITIES (7,365 ) (12,554 )
CAPITAL AND RESERVES
Called up share capital 8 1 1
Profit and Loss Account (7,366 ) (12,555 )
SHAREHOLDERS' FUNDS (7,365) (12,554)
Page 1
Page 2
For the year ending 30 June 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 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 James Paul
Director
11 March 2024
The notes on pages 3 to 4 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Vinyl Monkeys Ltd is a private company, limited by shares, incorporated in Scotland, registered number SC569307 . The registered office is Limetree Garage, Glasgow Road, Hamilton, ML3 0RA.
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 sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from 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 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:
Leasehold 10% straight line
Plant & Machinery 20% reducing balance
Motor Vehicles 25% reducing balance
Computer Equipment 25% reducing balance
2.4. Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 2 (2022: 2)
2 2
4. Tangible Assets
Land & Property
Leasehold Plant & Machinery Motor Vehicles Computer Equipment Total
£ £ £ £ £
Cost
As at 1 July 2022 2,600 29,394 18,010 3,620 53,624
As at 30 June 2023 2,600 29,394 18,010 3,620 53,624
...CONTINUED
Page 3
Page 4
Depreciation
As at 1 July 2022 - 807 13,621 2,761 17,189
Provided during the period 260 3,401 1,097 286 5,044
As at 30 June 2023 260 4,208 14,718 3,047 22,233
Net Book Value
As at 30 June 2023 2,340 25,186 3,292 573 31,391
As at 1 July 2022 2,600 28,587 4,389 859 36,435
5. Stocks
2023 2022
£ £
Stock 4,621 4,621
6. Creditors: Amounts Falling Due Within One Year
2023 2022
£ £
Bank loans and overdrafts 10,000 10,000
Accruals and deferred income 426 913
Director's loan account 6,323 11,733
16,749 22,646
7. Creditors: Amounts Falling Due After More Than One Year
2023 2022
£ £
Bank loans 30,000 35,000
30,000 35,000
8. Share Capital
2023 2022
£ £
Allotted, Called up and fully paid 1 1
Page 4