Acorah Software Products - Accounts Production 15.0.600 false true 31 July 2022 1 August 2021 false 1 August 2022 31 July 2023 31 July 2023 SC442979 Mr S P Glencross Mr S P Glencross iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure SC442979 2022-07-31 SC442979 2023-07-31 SC442979 2022-08-01 2023-07-31 SC442979 frs-core:CurrentFinancialInstruments 2023-07-31 SC442979 frs-core:Non-currentFinancialInstruments 2023-07-31 SC442979 frs-core:DevelopmentCostsCapitalisedDevelopmentExpenditure 2022-08-01 2023-07-31 SC442979 frs-core:FurnitureFittings 2023-07-31 SC442979 frs-core:FurnitureFittings 2022-08-01 2023-07-31 SC442979 frs-core:FurnitureFittings 2022-07-31 SC442979 frs-core:OtherResidualIntangibleAssets 2023-07-31 SC442979 frs-core:OtherResidualIntangibleAssets 2022-08-01 2023-07-31 SC442979 frs-core:OtherResidualIntangibleAssets 2022-07-31 SC442979 frs-core:PlantMachinery 2023-07-31 SC442979 frs-core:PlantMachinery 2022-08-01 2023-07-31 SC442979 frs-core:PlantMachinery 2022-07-31 SC442979 frs-core:ShareCapital 2023-07-31 SC442979 frs-core:RetainedEarningsAccumulatedLosses 2023-07-31 SC442979 frs-bus:PrivateLimitedCompanyLtd 2022-08-01 2023-07-31 SC442979 frs-bus:FilletedAccounts 2022-08-01 2023-07-31 SC442979 frs-bus:SmallEntities 2022-08-01 2023-07-31 SC442979 frs-bus:AuditExempt-NoAccountantsReport 2022-08-01 2023-07-31 SC442979 frs-bus:SmallCompaniesRegimeForAccounts 2022-08-01 2023-07-31 SC442979 frs-bus:Director1 2022-08-01 2023-07-31 SC442979 frs-bus:CompanySecretary1 2022-08-01 2023-07-31 SC442979 frs-countries:Scotland 2022-08-01 2023-07-31 SC442979 2021-07-31 SC442979 2022-07-31 SC442979 2021-08-01 2022-07-31 SC442979 frs-core:CurrentFinancialInstruments 2022-07-31 SC442979 frs-core:Non-currentFinancialInstruments 2022-07-31 SC442979 frs-core:ShareCapital 2022-07-31 SC442979 frs-core:RetainedEarningsAccumulatedLosses 2022-07-31
Registered number: SC442979
Machina Espresso Ltd
Unaudited Financial Statements
For The Year Ended 31 July 2023
Sense Accounting Limited
36 Bruntsfield Place
Edinburgh
EH10 4HJ
Unaudited Financial Statements
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—6
Page 1
Balance Sheet
Registered number: SC442979
2023 2022
Notes £ £ £ £
FIXED ASSETS
Intangible Assets 4 13,201 18,311
Tangible Assets 5 33,368 45,007
46,569 63,318
CURRENT ASSETS
Stock 6 67,151 64,528
Debtors 7 139,087 154,775
Cash at bank and in hand 94,830 43,253
301,068 262,556
Creditors: Amounts Falling Due Within One Year 8 (226,665 ) (228,475 )
NET CURRENT ASSETS (LIABILITIES) 74,403 34,081
TOTAL ASSETS LESS CURRENT LIABILITIES 120,972 97,399
Creditors: Amounts Falling Due After More Than One Year 9 (21,968 ) (75,681 )
PROVISIONS FOR LIABILITIES
Deferred Taxation (5,561 ) (8,551 )
NET ASSETS 93,443 13,167
CAPITAL AND RESERVES
Called up share capital 10 10 10
Profit and Loss Account 93,433 13,157
SHAREHOLDERS' FUNDS 93,443 13,167
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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 S P Glencross
Director
9 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
Machina Espresso Ltd is a private company, limited by shares, incorporated in Scotland, registered number SC442979 . The registered office is Unit 9, Peffermill Park, 25 Kings Haugh, Edinburgh, EH16 5UY.
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. Intangible Fixed Assets and Amortisation - Other Intangible
Other intangible assets relate to website development. It is amortised to profit and loss account over its estimated economic life of 5 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 20% straight line
Fixtures & Fittings 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.
2.6. Foreign Currencies
Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate ruling on the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
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2.7. 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.
2.8. Government Grant
Government grants are recognised in the profit and loss account in an appropriate manner that matches them with the expenditure towards which they are intended to contribute.
Grants for immediate financial support or to cover costs already incurred are recognised immediately in the profit and loss account. Grants towards general activities of the entity over a specific period are recognised in the profit and loss account over that period.
Grants towards fixed assets are recognised over the expected useful lives of the related assets and are treated as deferred income and released to the profit and loss account over the useful life of the asset concerned.
All grants in the profit and loss account are recognised when all conditions for receipt have been complied with.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 12 (2022: 11)
12 11
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4. Intangible Assets
Other
£
Cost
As at 1 August 2022 25,550
As at 31 July 2023 25,550
Amortisation
As at 1 August 2022 7,239
Provided during the period 5,110
As at 31 July 2023 12,349
Net Book Value
As at 31 July 2023 13,201
As at 1 August 2022 18,311
5. Tangible Assets
Plant & Machinery Fixtures & Fittings Total
£ £ £
Cost
As at 1 August 2022 95,181 31,067 126,248
Additions 2,580 691 3,271
As at 31 July 2023 97,761 31,758 129,519
Depreciation
As at 1 August 2022 53,260 27,981 81,241
Provided during the period 14,017 893 14,910
As at 31 July 2023 67,277 28,874 96,151
Net Book Value
As at 31 July 2023 30,484 2,884 33,368
As at 1 August 2022 41,921 3,086 45,007
6. Stock
2023 2022
£ £
Finished goods 67,151 64,528
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7. Debtors
2023 2022
£ £
Due within one year
Trade debtors 56,161 35,315
Prepayments and accrued income 7,667 2,204
Other debtors 1,194 2,869
VAT 20,070 26,486
Other taxes and social security 2,167 -
Amounts owed by related parties 51,828 87,901
139,087 154,775
8. Creditors: Amounts Falling Due Within One Year
2023 2022
£ £
Trade creditors 121,298 139,033
Bank loans and overdrafts 23,221 23,038
Corporation tax 25,248 4,395
Other taxes and social security - 4,948
Other creditors 43,467 49,115
Accruals and deferred income 1,900 1,900
Director's loan account 11,531 6,046
226,665 228,475
9. Creditors: Amounts Falling Due After More Than One Year
2023 2022
£ £
Bank loans 21,968 75,681
21,968 75,681
10. Share Capital
2023 2022
£ £
Allotted, Called up and fully paid 10 10
11. Related Party Transactions
As at 31 July 2023, the company owed the director Mr S Glencross £11,531 (2022: £6,046). 
As at 31 July 2023, Machina Southside Limited owed the company £51,828 (2022: £87,901).  A company with a director in common with Machina Espresso Limited.
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