Acorah Software Products - Accounts Production 15.0.600 false true 31 October 2022 1 November 2021 false 1 November 2022 31 October 2023 31 October 2023 SC579610 Mrs Alexandra Craig Mr Andrew Craig iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure SC579610 2022-10-31 SC579610 2023-10-31 SC579610 2022-11-01 2023-10-31 SC579610 frs-core:CurrentFinancialInstruments 2023-10-31 SC579610 frs-core:Non-currentFinancialInstruments 2023-10-31 SC579610 frs-core:ComputerEquipment 2023-10-31 SC579610 frs-core:ComputerEquipment 2022-11-01 2023-10-31 SC579610 frs-core:ComputerEquipment 2022-10-31 SC579610 frs-core:FurnitureFittings 2023-10-31 SC579610 frs-core:FurnitureFittings 2022-11-01 2023-10-31 SC579610 frs-core:FurnitureFittings 2022-10-31 SC579610 frs-core:PlantMachinery 2023-10-31 SC579610 frs-core:PlantMachinery 2022-11-01 2023-10-31 SC579610 frs-core:PlantMachinery 2022-10-31 SC579610 frs-core:ShareCapital 2023-10-31 SC579610 frs-core:RetainedEarningsAccumulatedLosses 2023-10-31 SC579610 frs-bus:PrivateLimitedCompanyLtd 2022-11-01 2023-10-31 SC579610 frs-bus:FilletedAccounts 2022-11-01 2023-10-31 SC579610 frs-bus:SmallEntities 2022-11-01 2023-10-31 SC579610 frs-bus:AuditExempt-NoAccountantsReport 2022-11-01 2023-10-31 SC579610 frs-bus:SmallCompaniesRegimeForAccounts 2022-11-01 2023-10-31 SC579610 frs-bus:Director1 2022-11-01 2023-10-31 SC579610 frs-bus:Director2 2022-11-01 2023-10-31 SC579610 frs-countries:Scotland 2022-11-01 2023-10-31 SC579610 2021-10-31 SC579610 2022-10-31 SC579610 2021-11-01 2022-10-31 SC579610 frs-core:CurrentFinancialInstruments 2022-10-31 SC579610 frs-core:Non-currentFinancialInstruments 2022-10-31 SC579610 frs-core:ShareCapital 2022-10-31 SC579610 frs-core:RetainedEarningsAccumulatedLosses 2022-10-31 SC579610 frs-core:CurrentFinancialInstruments 1 2022-10-31
Registered number: SC579610
Gin Spa Limited
Unaudited Financial Statements
For The Year Ended 31 October 2023
Accsol
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: SC579610
2023 2022
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 28,278 8,690
28,278 8,690
CURRENT ASSETS
Stocks 5 1,400 1,400
Debtors 6 267,777 44,946
Cash at bank and in hand - 22,077
269,177 68,423
Creditors: Amounts Falling Due Within One Year 7 (249,561 ) (65,392 )
NET CURRENT ASSETS (LIABILITIES) 19,616 3,031
TOTAL ASSETS LESS CURRENT LIABILITIES 47,894 11,721
Creditors: Amounts Falling Due After More Than One Year 8 (25,839 ) (136 )
NET ASSETS 22,055 11,585
CAPITAL AND RESERVES
Called up share capital 9 1 1
Profit and Loss Account 22,054 11,584
SHAREHOLDERS' FUNDS 22,055 11,585
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Page 2
For the year ending 31 October 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 Andrew Craig
Director
31/07/2024
The notes on pages 3 to 5 form part of these financial statements.
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Notes to the Financial Statements
1. General Information
Gin Spa Limited is a private company, limited by shares, incorporated in Scotland, registered number SC579610 . The registered office is Suite 2-04 Savoy Tower, 77 Renfield STreet, Glasgow, G2 3BZ.
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:
Plant & Machinery 25% Straight Line
Fixtures & Fittings 25% Straight Line
Computer Equipment 25% Straight Line
2.4. 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.
2.5. 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.
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3. Average Number of Employees
Average number of employees, including directors, during the year was: 14 (2022: 14)
14 14
4. Tangible Assets
Plant & Machinery Fixtures & Fittings Computer Equipment Total
£ £ £ £
Cost
As at 1 November 2022 8,875 - 833 9,708
Additions 1,888 26,941 - 28,829
As at 31 October 2023 10,763 26,941 833 38,537
Depreciation
As at 1 November 2022 185 - 833 1,018
Provided during the period 2,506 6,735 - 9,241
As at 31 October 2023 2,691 6,735 833 10,259
Net Book Value
As at 31 October 2023 8,072 20,206 - 28,278
As at 1 November 2022 8,690 - - 8,690
5. Stocks
2023 2022
£ £
Stock 1,400 1,400
6. Debtors
2023 2022
£ £
Due within one year
Trade debtors 3,000 10,800
Prepayments and accrued income 220 220
Gift cards 129,294 -
Other taxes and social security - 982
Directors' loan accounts 35,727 32,944
Amounts owed by subsidiaries 99,536 -
267,777 44,946
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7. Creditors: Amounts Falling Due Within One Year
2023 2022
£ £
Trade creditors 83,866 18,404
Bank loans and overdrafts 43,829 187
Corporation tax 15,159 12,703
Other taxes and social security 49,075 -
VAT 55,130 14,206
Net wages 475 -
Other creditors - 1,667
Other creditors (1) - 16,198
Accruals and deferred income 2,027 2,027
249,561 65,392
8. Creditors: Amounts Falling Due After More Than One Year
2023 2022
£ £
Bank loans 26,363 37,011
Other loans - (54,306 )
Other creditors (524 ) 17,431
25,839 136
9. Share Capital
2023 2022
£ £
Allotted, Called up and fully paid 1 1
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