Registered number
SC750400
Embed Software Limited
Filleted Accounts
30 November 2023
Embed Software Limited
Registered number: SC750400
Balance Sheet
as at 30 November 2023
Notes 2023
£
Fixed assets
Tangible assets 3 9,356
Current assets
Debtors 4 24,975
Cash at bank and in hand 50,120
75,095
Creditors: amounts falling due within one year 5 (22,516)
Net current assets 52,579
Total assets less current liabilities 61,935
Creditors: amounts falling due after more than one year 6 (35,095)
Net assets 26,840
Capital and reserves
Called up share capital 100
Profit and loss account 26,740
Shareholders' funds 26,840
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
G Sharp
Director
Approved by the board on 5 August 2024
Embed Software Limited
Notes to the Accounts
for the period from 15 November 2022 to 30 November 2023
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
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 from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. 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.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Fixtures, fittings, tools and equipment on a 20% Reducing Balance Basis
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2023
Number
Average number of persons employed by the company 2
3 Tangible fixed assets
Plant and machinery etc
£
Cost
Additions 10,601
At 30 November 2023 10,601
Depreciation
Charge for the period 1,245
At 30 November 2023 1,245
Net book value
At 30 November 2023 9,356
4 Debtors 2023
£
Trade debtors 24,975
5 Creditors: amounts falling due within one year 2023
£
Bank loans and overdrafts 2,710
Trade creditors 441
Taxation and social security costs 17,916
Other creditors 1,449
22,516
6 Creditors: amounts falling due after one year 2023
£
Directors Account - Shaun Simpson 17,409
Director's account - Grant Sharp 17,686
35,095
7 Other information
Embed Software Limited is a private company limited by shares and incorporated in Scotland. Its registered office is:
Embed Office Kirkcaldy Golf Club
Balwearie Road
Kirkcaldy
Fife
KY2 5LT
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