Acorah Software Products - Accounts Production 14.6.300 false true false 17 November 2022 30 November 2023 30 November 2023 SC750621 Mr Umar Din Mr Umar Din iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure SC750621 2022-11-16 SC750621 2023-11-30 SC750621 2022-11-17 2023-11-30 SC750621 frs-core:CurrentFinancialInstruments 2023-11-30 SC750621 frs-core:ComputerEquipment 2023-11-30 SC750621 frs-core:ComputerEquipment 2022-11-17 2023-11-30 SC750621 frs-core:ComputerEquipment 2022-11-16 SC750621 frs-core:ShareCapital 2023-11-30 SC750621 frs-core:RetainedEarningsAccumulatedLosses 2023-11-30 SC750621 frs-bus:PrivateLimitedCompanyLtd 2022-11-17 2023-11-30 SC750621 frs-bus:FilletedAccounts 2022-11-17 2023-11-30 SC750621 frs-bus:SmallEntities 2022-11-17 2023-11-30 SC750621 frs-bus:AuditExempt-NoAccountantsReport 2022-11-17 2023-11-30 SC750621 frs-bus:SmallCompaniesRegimeForAccounts 2022-11-17 2023-11-30 SC750621 frs-bus:Director1 2022-11-17 2023-11-30 SC750621 frs-bus:Director2 2022-11-17 2023-11-30 SC750621 frs-countries:Scotland 2022-11-17 2023-11-30
Registered number: SC750621
PRIME AI SOLUTIONS LTD
Unaudited Financial Statements
For the Period 17 November 2022 to 30 November 2023
Lockhart Amin Accountants
Contents
Page
Balance Sheet 1
Notes to the Financial Statements 2—3
Page 1
Balance Sheet
Registered number: SC750621
30 November 2023
Notes £ £
FIXED ASSETS
Tangible Assets 4 2,257
2,257
CURRENT ASSETS
Cash at bank and in hand 44,630
44,630
Creditors: Amounts Falling Due Within One Year 5 (4,569 )
NET CURRENT ASSETS (LIABILITIES) 40,061
TOTAL ASSETS LESS CURRENT LIABILITIES 42,318
NET ASSETS 42,318
CAPITAL AND RESERVES
Called up share capital 6 1
Profit and Loss Account 42,317
SHAREHOLDERS' FUNDS 42,318
For the period ending 30 November 2023 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 Umar Din
Director
7 August 2024
The notes on pages 2 to 3 form part of these financial statements.
Page 1
Page 2
Notes to the Financial Statements
1. General Information
PRIME AI SOLUTIONS LTD is a private company, limited by shares, incorporated in Scotland, registered number SC750621 . The registered office is 16 Gordon Street, First Floor, Glasgow, G1 3PT.
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:
Computer Equipment 20% Reducing Balance
3. Average Number of Employees
Average number of employees, including directors, during the period was: 1
1
4. Tangible Assets
Computer Equipment
£
Cost
As at 17 November 2022 2,708
As at 30 November 2023 2,708
Depreciation
As at 17 November 2022 -
Provided during the period 451
As at 30 November 2023 451
Net Book Value
As at 30 November 2023 2,257
As at 17 November 2022 2,708
Page 2
Page 3
5. Creditors: Amounts Falling Due Within One Year
30 November 2023
£
Trade creditors 1
Taxation and social security 4,568
4,569
6. Share Capital
30 November 2023
£
Allotted, Called up and fully paid 1
Page 3