Acorah Software Products - Accounts Production 14.6.300 false true 31 July 2022 1 August 2021 false 1 August 2022 31 July 2023 31 July 2023 SC509161 Mr Roderick Williams Mr Roderick Williams true iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure SC509161 2022-07-31 SC509161 2023-07-31 SC509161 2022-08-01 2023-07-31 SC509161 frs-core:CurrentFinancialInstruments 2023-07-31 SC509161 frs-core:Non-currentFinancialInstruments 2023-07-31 SC509161 frs-core:BetweenOneFiveYears 2023-07-31 SC509161 frs-core:ComputerEquipment 2023-07-31 SC509161 frs-core:ComputerEquipment 2022-08-01 2023-07-31 SC509161 frs-core:ComputerEquipment 2022-07-31 SC509161 frs-core:FurnitureFittings 2023-07-31 SC509161 frs-core:FurnitureFittings 2022-08-01 2023-07-31 SC509161 frs-core:FurnitureFittings 2022-07-31 SC509161 frs-core:NetGoodwill 2023-07-31 SC509161 frs-core:NetGoodwill 2022-08-01 2023-07-31 SC509161 frs-core:NetGoodwill 2022-07-31 SC509161 frs-core:MotorVehicles 2023-07-31 SC509161 frs-core:MotorVehicles 2022-08-01 2023-07-31 SC509161 frs-core:MotorVehicles 2022-07-31 SC509161 frs-core:PlantMachinery 2023-07-31 SC509161 frs-core:PlantMachinery 2022-08-01 2023-07-31 SC509161 frs-core:PlantMachinery 2022-07-31 SC509161 frs-core:WithinOneYear 2023-07-31 SC509161 frs-core:ShareCapital 2023-07-31 SC509161 frs-core:RetainedEarningsAccumulatedLosses 2023-07-31 SC509161 frs-bus:PrivateLimitedCompanyLtd 2022-08-01 2023-07-31 SC509161 frs-bus:FilletedAccounts 2022-08-01 2023-07-31 SC509161 frs-bus:SmallEntities 2022-08-01 2023-07-31 SC509161 frs-bus:AuditExempt-NoAccountantsReport 2022-08-01 2023-07-31 SC509161 frs-bus:SmallCompaniesRegimeForAccounts 2022-08-01 2023-07-31 SC509161 1 2022-08-01 2023-07-31 SC509161 frs-bus:Director1 2022-08-01 2023-07-31 SC509161 frs-countries:Scotland 2022-08-01 2023-07-31 SC509161 2021-07-31 SC509161 2022-07-31 SC509161 2021-08-01 2022-07-31 SC509161 frs-core:CurrentFinancialInstruments 2022-07-31 SC509161 frs-core:Non-currentFinancialInstruments 2022-07-31 SC509161 frs-core:BetweenOneFiveYears 2022-07-31 SC509161 frs-core:WithinOneYear 2022-07-31 SC509161 frs-core:ShareCapital 2022-07-31 SC509161 frs-core:RetainedEarningsAccumulatedLosses 2022-07-31
Registered number: SC509161
Forever Space Limited
Unaudited Financial Statements
For The Year Ended 31 July 2023
Rosslyn Associates Ltd
Chartered Tax Advisers & Accountants
The Walled Garden
South Building
Bush Estate
Midlothian
EH26 0SD
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: SC509161
2023 2022
Notes £ £ £ £
FIXED ASSETS
Intangible Assets 4 1,475 2,600
Tangible Assets 5 114,499 56,192
115,974 58,792
CURRENT ASSETS
Stocks 6 35,000 10,000
Debtors 7 70,215 89,119
Cash at bank and in hand 94,787 58,548
200,002 157,667
Creditors: Amounts Falling Due Within One Year 8 (197,034 ) (190,982 )
NET CURRENT ASSETS (LIABILITIES) 2,968 (33,315 )
TOTAL ASSETS LESS CURRENT LIABILITIES 118,942 25,477
Creditors: Amounts Falling Due After More Than One Year 9 (32,963 ) -
PROVISIONS FOR LIABILITIES
Deferred Taxation (14,051 ) -
NET ASSETS 71,928 25,477
CAPITAL AND RESERVES
Called up share capital 11 12 12
Profit and Loss Account 71,916 25,465
SHAREHOLDERS' FUNDS 71,928 25,477
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 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 Roderick Williams
Director
30/07/2024
The notes on pages 3 to 5 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Forever Space Limited is a private company, limited by shares, incorporated in Scotland, registered number SC509161 . The registered office is 1-2 Church Street, Haddington, Scotland, EH41 3EX.
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 comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
2.3. Intangible Fixed Assets and Amortisation - Goodwill
Goodwill is the difference between amounts paid on the acquisition of a business and the fair value of the separable net assets. It is amortised to profit and loss account over its estimated economic life of 10 years.
2.4. 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:
Plant & Machinery 15% reducing balance
Motor Vehicles 25% reducing balance
Fixtures & Fittings 15% reducing balance
Computer Equipment 20% straight line
2.5. 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.
2.6. 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.
2.7. Taxation
The charge for taxation takes into account taxation deferred as a result of timing differences between the treatment of certain items for taxation and accounting purposes. In general, deferred taxation is recognised in respect of timing differences that have originated but not reversed at the balance sheet date. However, deferred tax assets are recognised only to the extent that the directors consider that it is more likely than not that there will be suitable taxable profits from which the future reversal of the underlying timing differences can be deducted. Deferred taxation is measured on a non-discounted basis at the tax rates that are expected to apply in periods in which the timing differences reverse, based on tax rates and the law enacted or substantively enacted at the balance sheet date.
2.8. Registrar Filing Requirements
The company has taken advantage of Companies Act 2006 section 444(1) and opted not to file the profit and loss account, directors report, and notes to the financial statements relating to the profit and loss account.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 10 (2022: 6)
10 6
Page 3
Page 4
4. Intangible Assets
Goodwill
£
Cost
As at 1 August 2022 11,250
As at 31 July 2023 11,250
Amortisation
As at 1 August 2022 8,650
Provided during the period 1,125
As at 31 July 2023 9,775
Net Book Value
As at 31 July 2023 1,475
As at 1 August 2022 2,600
5. Tangible Assets
Plant & Machinery Motor Vehicles Fixtures & Fittings Computer Equipment Total
£ £ £ £ £
Cost
As at 1 August 2022 16,263 59,065 28,881 6,354 110,563
Additions 3,408 84,125 350 2,307 90,190
Disposals - (13,167 ) - - (13,167 )
As at 31 July 2023 19,671 130,023 29,231 8,661 187,586
Depreciation
As at 1 August 2022 8,788 30,746 11,775 3,062 54,371
Provided during the period 1,588 22,540 2,618 1,752 28,498
Disposals - (9,782 ) - - (9,782 )
As at 31 July 2023 10,376 43,504 14,393 4,814 73,087
Net Book Value
As at 31 July 2023 9,295 86,519 14,838 3,847 114,499
As at 1 August 2022 7,475 28,319 17,106 3,292 56,192
6. Stocks
2023 2022
£ £
Finished goods 35,000 10,000
7. Debtors
2023 2022
£ £
Due within one year
Trade debtors 59,713 82,086
Other debtors 10,502 7,033
70,215 89,119
Page 4
Page 5
8. Creditors: Amounts Falling Due Within One Year
2023 2022
£ £
Net obligations under finance lease and hire purchase contracts 9,300 -
Trade creditors 60,069 53,490
Bank loans and overdrafts 5,672 35,955
Other creditors 72,107 72,308
Taxation and social security 49,886 29,229
197,034 190,982
9. Creditors: Amounts Falling Due After More Than One Year
2023 2022
£ £
Net obligations under finance lease and hire purchase contracts 17,629 -
Bank loans 15,334 -
32,963 -
10. Obligations Under Finance Leases and Hire Purchase
2023 2022
£ £
The future minimum finance lease payments are as follows:
Not later than one year 9,300 -
Later than one year and not later than five years 17,629 -
26,929 -
26,929 -
11. Share Capital
2023 2022
£ £
Allotted, Called up and fully paid 12 12
12. Related Party Transactions
The directors are of the opinion that all related party transactions are conducted under normal market conditions and on an arm's length basis and therefore do not need to be disclosed under FRS 102 section 1A appendix C.
13. Ultimate Controlling Party
The company's ultimate controlling party is Mr Roderick Williams by virtue of his ownership of 100% of the issued share capital in the company.
Page 5