Acorah Software Products - Accounts Production 14.6.300 false true true 30 November 2022 1 December 2021 false 1 December 2022 30 November 2023 30 November 2023 SC647239 Mr Mark McAulay iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure SC647239 2022-11-30 SC647239 2023-11-30 SC647239 2022-12-01 2023-11-30 SC647239 frs-core:CurrentFinancialInstruments 2023-11-30 SC647239 frs-core:Non-currentFinancialInstruments 2023-11-30 SC647239 frs-core:PlantMachinery 2023-11-30 SC647239 frs-core:PlantMachinery 2022-12-01 2023-11-30 SC647239 frs-core:PlantMachinery 2022-11-30 SC647239 frs-core:SharePremium 2023-11-30 SC647239 frs-core:ShareCapital 2023-11-30 SC647239 frs-core:RetainedEarningsAccumulatedLosses 2023-11-30 SC647239 frs-bus:PrivateLimitedCompanyLtd 2022-12-01 2023-11-30 SC647239 frs-bus:FilletedAccounts 2022-12-01 2023-11-30 SC647239 frs-bus:SmallEntities 2022-12-01 2023-11-30 SC647239 frs-bus:AuditExempt-NoAccountantsReport 2022-12-01 2023-11-30 SC647239 frs-bus:SmallCompaniesRegimeForAccounts 2022-12-01 2023-11-30 SC647239 frs-bus:Director1 2022-12-01 2023-11-30 SC647239 frs-countries:Scotland 2022-12-01 2023-11-30 SC647239 2021-11-30 SC647239 2022-11-30 SC647239 2021-12-01 2022-11-30 SC647239 frs-core:CurrentFinancialInstruments 2022-11-30 SC647239 frs-core:Non-currentFinancialInstruments 2022-11-30 SC647239 frs-core:SharePremium 2022-11-30 SC647239 frs-core:ShareCapital 2022-11-30 SC647239 frs-core:RetainedEarningsAccumulatedLosses 2022-11-30
Registered number: SC647239
Singularity Sauce Co. Ltd
Unaudited Financial Statements
For The Year Ended 30 November 2023
Unaudited Financial Statements
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—6
Page 1
Balance Sheet
Registered number: SC647239
2023 2022
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 12,994 9,602
12,994 9,602
CURRENT ASSETS
Stocks 5 7,137 8,239
Debtors 6 11,766 8,026
Cash at bank and in hand 395 9,462
19,298 25,727
Creditors: Amounts Falling Due Within One Year 7 (27,187 ) (20,701 )
NET CURRENT ASSETS (LIABILITIES) (7,889 ) 5,026
TOTAL ASSETS LESS CURRENT LIABILITIES 5,105 14,628
Creditors: Amounts Falling Due After More Than One Year 8 (9,239 ) (11,566 )
NET (LIABILITIES)/ASSETS (4,134 ) 3,062
CAPITAL AND RESERVES
Called up share capital 9 1 1
Share premium account 30,000 30,000
Profit and Loss Account (34,135 ) (26,939 )
SHAREHOLDERS' FUNDS (4,134) 3,062
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For the year 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 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 McAulay
Director
7 August 2024
The notes on pages 3 to 6 form part of these financial statements.
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Notes to the Financial Statements
1. General Information
Singularity Sauce Co. Ltd is a private company, limited by shares, incorporated in Scotland, registered number SC647239 . The registered office is 7 Bain's Park, Tarves, Ellon, Aberdeenshire, AB41 7QH.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
These financial statements have been prepared in accordance with FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" ("FRS 102") and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention. The principal accounting policies are set out below.
2.2. Going Concern Disclosure
During the year the company completed the fit out of the new business premises, this completed the first stage of the plan to scale up production, the sales in the year have almost doubled as a result.  The second stage of the plan to increase producion is set to be implemented in 2024 and will involve employing staff to allow production to increase further whilst the director concentrates fully on management and marketing.  Whilst a loss was made in the year the director is confident that the company will meet its liabilities as agreed and they confirm their ongoing surpport.  The accounts have therefore been prepared on a going concern basis.
2.3. 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, the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the entity and the costs incurred or to be incurred in respect of the transaction can be measured reliably.
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.
2.4. 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 20% Straight line
2.5. 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.

At each reporting date, an assessment is made for impairment. Any excess in carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit and loss.
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2.6. Financial Instruments
The company has elected to apply the provisions of Section 11 'Basic Financial Instruments' of FRS 102 to all of its financial instruments.
Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.
Basic financial assets
Basic financial assets, which include debtors, cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method. Financial assets classified as receivable within one year are not amortised.
Impairment of financial assets
Financial assets are assessed for indicators of impairment at each reporting end date.
Financial assets are impaired when there is objective evidence that, as a result of one or more events that occurred after the initial recognition of the financial asset, the estimated future cash flows have been affected. If an asset is impaired, the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset's original effective interest rate. The impairment loss is recognised in profit and loss.
Derecognition of financial assets
Financial assets are derecognised only when the contractual rights to the cash flows from the asset expire or are settled, or when the company transfers the financial asset and substantially all the risks and rewards of ownership to another entity.
Classification of financial liabilities
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.
Basic financial liabilities
Basic financial liabilities, including creditors and loans, are initially recognised at transaction price and are subsequently carried at amortised cost, using the effective interest rate method. Financial liabilities classified as payable within one year are not amortised.
Derecognition of financial liabilities
Financial liabilities are derecognised when the company's contractual obligations expire or are discharged or cancelled.
Equity instruments
Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.
2.7. Taxation
The tax expense represents the sum of the tax currently payable and deferred tax movements.
Current tax
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the profit and loss because it excludes items of income or expenses that are taxable or deductible in other years and it further excludes items that were 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
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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2.8. Provisions
Provisions are recognised when the company has an obligation at the reporting date as a result of a past event which it is probable will result in the transfer of economic benefits and that obligation can be estimated reliably.
Provisions are measured as the best estimate of the amounts required to settle the obligation. Where the effect of the time value of money is material, the provision is based on the present value of those amounts, discounted at the pre-tax discount rate that reflects the risks specific to the liability. The unwinding of the discount is recognised within interest payable and similar charges.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 2 (2022: 1)
2 1
4. Tangible Assets
Plant & Machinery
£
Cost
As at 1 December 2022 11,565
Additions 7,098
As at 30 November 2023 18,663
Depreciation
As at 1 December 2022 1,963
Provided during the period 3,706
As at 30 November 2023 5,669
Net Book Value
As at 30 November 2023 12,994
As at 1 December 2022 9,602
5. Stocks
2023 2022
£ £
Finished goods 7,137 8,239
6. Debtors
2023 2022
£ £
Due within one year
Trade debtors 1,786 -
Other debtors 9,980 8,026
11,766 8,026
7. Creditors: Amounts Falling Due Within One Year
2023 2022
£ £
Trade creditors 14,324 195
Bank loans and overdrafts 4,440 4,440
Other creditors 8,423 16,066
27,187 20,701
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8. Creditors: Amounts Falling Due After More Than One Year
2023 2022
£ £
Bank loans 9,239 11,566
9,239 11,566
9. Share Capital
2023 2022
£ £
Allotted, Called up and fully paid 1 1
During the year 10 Ordinary A Shares of £0.10 each were reclassified as 10 Ordinary B Shares of £0.10 each and 18 Ordinary C Shares of £0.10 each were issued and fully paid.
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