Acorah Software Products - Accounts Production 14.5.601 false true 30 November 2021 1 December 2020 false 1 December 2021 30 November 2022 30 November 2022 09338632 Mr Mark Sutherland iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 09338632 2021-11-30 09338632 2022-11-30 09338632 2021-12-01 2022-11-30 09338632 frs-core:CurrentFinancialInstruments 2022-11-30 09338632 frs-core:Non-currentFinancialInstruments 2022-11-30 09338632 frs-core:BetweenOneFiveYears 2022-11-30 09338632 frs-core:MotorVehicles 2022-11-30 09338632 frs-core:MotorVehicles 2021-12-01 2022-11-30 09338632 frs-core:MotorVehicles 2021-11-30 09338632 frs-core:PlantMachinery 2022-11-30 09338632 frs-core:PlantMachinery 2021-12-01 2022-11-30 09338632 frs-core:PlantMachinery 2021-11-30 09338632 frs-core:WithinOneYear 2022-11-30 09338632 frs-core:ShareCapital 2022-11-30 09338632 frs-core:RetainedEarningsAccumulatedLosses 2022-11-30 09338632 frs-bus:PrivateLimitedCompanyLtd 2021-12-01 2022-11-30 09338632 frs-bus:FilletedAccounts 2021-12-01 2022-11-30 09338632 frs-bus:SmallEntities 2021-12-01 2022-11-30 09338632 frs-bus:AuditExempt-NoAccountantsReport 2021-12-01 2022-11-30 09338632 frs-bus:SmallCompaniesRegimeForAccounts 2021-12-01 2022-11-30 09338632 frs-bus:Director1 2021-12-01 2022-11-30 09338632 frs-countries:EnglandWales 2021-12-01 2022-11-30 09338632 2020-11-30 09338632 2021-11-30 09338632 2020-12-01 2021-11-30 09338632 frs-core:CurrentFinancialInstruments 2021-11-30 09338632 frs-core:Non-currentFinancialInstruments 2021-11-30 09338632 frs-core:BetweenOneFiveYears 2021-11-30 09338632 frs-core:MotorVehicles 2020-12-01 2021-11-30 09338632 frs-core:WithinOneYear 2021-11-30 09338632 frs-core:ShareCapital 2021-11-30 09338632 frs-core:RetainedEarningsAccumulatedLosses 2021-11-30
Registered number: 09338632
Sutherland Asset Management Ltd
Unaudited Financial Statements
For The Year Ended 30 November 2022
Quest Accounting Services Limited
Suite 110, The Pinnacle, 170 Midsummer Boulevard
Milton Keynes
MK9 1FD
Unaudited Financial Statements
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 09338632
2022 2021
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 45,911 40,686
45,911 40,686
CURRENT ASSETS
Debtors 5 1,000 1,000
Cash at bank and in hand 63,462 55,122
64,462 56,122
Creditors: Amounts Falling Due Within One Year 6 (83,202 ) (54,501 )
NET CURRENT ASSETS (LIABILITIES) (18,740 ) 1,621
TOTAL ASSETS LESS CURRENT LIABILITIES 27,171 42,307
Creditors: Amounts Falling Due After More Than One Year 7 (16,568 ) (28,399 )
NET ASSETS 10,603 13,908
CAPITAL AND RESERVES
Called up share capital 9 100 100
Profit and Loss Account 10,503 13,808
SHAREHOLDERS' FUNDS 10,603 13,908
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For the year ending 30 November 2022 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 Mark Sutherland
Director
19th December 2023
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
Sutherland Asset Management Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 09338632 . The registered office is Manor Farm House Poynings Road, Poynings, Brighton, BN45 7AG.
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 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 25% Straight Line
Motor Vehicles 10% Straight Line
2.4. Leasing and Hire Purchase Contracts
Assets obtained under finance leases are capitalised as tangible fixed assets. Assets acquired under finance leases are depreciated over the shorter of the lease term and their useful lives. Assets acquired under hire purchase contracts are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in the creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.

Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to profit and loss account as incurred.
2.5. 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: 2 (2021: 2)
2 2
4. Tangible Assets
Plant & Machinery Motor Vehicles Total
£ £ £
Cost
As at 1 December 2021 2,828 53,250 56,078
Additions 3,954 - 3,954
As at 30 November 2022 6,782 53,250 60,032
Depreciation
As at 1 December 2021 2,079 13,313 15,392
Provided during the period 1,392 (2,663 ) (1,271 )
As at 30 November 2022 3,471 10,650 14,121
Net Book Value
As at 30 November 2022 3,311 42,600 45,911
As at 1 December 2021 749 39,937 40,686
Included above are assets held under finance leases or hire purchase contracts with a net book value as follows:
2022 2021
£ £
Motor Vehicles 42,600 39,938
42,600 39,938
5. Debtors
2022 2021
£ £
Due within one year
Other debtors 1,000 1,000
1,000 1,000
6. Creditors: Amounts Falling Due Within One Year
2022 2021
£ £
Net obligations under finance lease and hire purchase contracts 10,000 10,000
Bank loans and overdrafts 1,500 1,500
Other taxes and social security 14,002 30,792
Accruals and deferred income 57,600 1,027
Director's loan account 100 11,182
83,202 54,501
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7. Creditors: Amounts Falling Due After More Than One Year
2022 2021
£ £
Net obligations under finance lease and hire purchase contracts 5,832 15,832
Bank loans 10,736 12,567
16,568 28,399
8. Obligations Under Finance Leases and Hire Purchase
2022 2021
£ £
The future minimum finance lease payments are as follows:
Not later than one year 10,000 10,000
Later than one year and not later than five years 5,832 15,832
15,832 25,832
15,832 25,832
9. Share Capital
2022 2021
£ £
Allotted, Called up and fully paid 100 100
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