Acorah Software Products - Accounts Production 15.0.500 false true 31 March 2023 1 April 2022 false 1 April 2023 31 March 2024 31 March 2024 04968533 Mr Arthur Baker Mrs Jennifer Baker Mrs Jennifer Baker iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 04968533 2023-03-31 04968533 2024-03-31 04968533 2023-04-01 2024-03-31 04968533 frs-core:CurrentFinancialInstruments 2024-03-31 04968533 frs-core:ComputerEquipment 2024-03-31 04968533 frs-core:ComputerEquipment 2023-04-01 2024-03-31 04968533 frs-core:ComputerEquipment 2023-03-31 04968533 frs-core:FurnitureFittings 2024-03-31 04968533 frs-core:FurnitureFittings 2023-04-01 2024-03-31 04968533 frs-core:FurnitureFittings 2023-03-31 04968533 frs-core:PlantMachinery 2024-03-31 04968533 frs-core:PlantMachinery 2023-04-01 2024-03-31 04968533 frs-core:PlantMachinery 2023-03-31 04968533 frs-core:ShareCapital 2024-03-31 04968533 frs-core:RetainedEarningsAccumulatedLosses 2024-03-31 04968533 frs-bus:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 04968533 frs-bus:FilletedAccounts 2023-04-01 2024-03-31 04968533 frs-bus:SmallEntities 2023-04-01 2024-03-31 04968533 frs-bus:AuditExempt-NoAccountantsReport 2023-04-01 2024-03-31 04968533 frs-bus:SmallCompaniesRegimeForAccounts 2023-04-01 2024-03-31 04968533 frs-bus:Director1 2023-04-01 2024-03-31 04968533 frs-bus:Director2 2023-04-01 2024-03-31 04968533 frs-bus:CompanySecretary1 2023-04-01 2024-03-31 04968533 frs-countries:EnglandWales 2023-04-01 2024-03-31 04968533 2022-03-31 04968533 2023-03-31 04968533 2022-04-01 2023-03-31 04968533 frs-core:CurrentFinancialInstruments 2023-03-31 04968533 frs-core:ShareCapital 2023-03-31 04968533 frs-core:RetainedEarningsAccumulatedLosses 2023-03-31
Registered number: 04968533
Seismic Interpretation Services Ltd
Unaudited Financial Statements
For The Year Ended 31 March 2024
Alliance Accountants Ltd
19 Gloucester Road
Ross on Wye
Herefordshire
HR9 5LQ
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—4
Page 1
Balance Sheet
Registered number: 04968533
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 1,213 1,223
1,213 1,223
CURRENT ASSETS
Debtors 5 948 925
Investments 6 229,152 328,791
Cash at bank and in hand 112,563 35,834
342,663 365,550
Creditors: Amounts Falling Due Within One Year 7 (106,130 ) (126,323 )
NET CURRENT ASSETS (LIABILITIES) 236,533 239,227
TOTAL ASSETS LESS CURRENT LIABILITIES 237,746 240,450
NET ASSETS 237,746 240,450
CAPITAL AND RESERVES
Called up share capital 8 100 100
Profit and Loss Account 237,646 240,350
SHAREHOLDERS' FUNDS 237,746 240,450
Page 1
Page 2
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 members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their 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 Arthur Baker
Director
01/08/2024
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
Seismic Interpretation Services Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 04968533 . The registered office is 19 Gloucester Road, Ross-On-Wye, Herefordshire, HR9 5LQ.
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. 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 25% Reducing Balance
Fixtures & Fittings 25% Reducing Balance
Computer Equipment 33% Reducing Balance
2.3. 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.
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: 2 (2023: 2)
2 2
4. Tangible Assets
Plant & Machinery Fixtures & Fittings Computer Equipment Total
£ £ £ £
Cost
As at 1 April 2023 1,934 3,419 17,468 22,821
Additions - - 480 480
As at 31 March 2024 1,934 3,419 17,948 23,301
...CONTINUED
Page 3
Page 4
Depreciation
As at 1 April 2023 1,878 2,550 17,170 21,598
Provided during the period 14 217 259 490
As at 31 March 2024 1,892 2,767 17,429 22,088
Net Book Value
As at 31 March 2024 42 652 519 1,213
As at 1 April 2023 56 869 298 1,223
5. Debtors
2024 2023
£ £
Due within one year
Other debtors 948 925
6. Current Asset Investments
2024 2023
£ £
Listed investments 229,152 328,791
7. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Other creditors 105,733 126,323
Taxation and social security 397 -
106,130 126,323
8. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 100 100
Page 4