Acorah Software Products - Accounts Production 15.0.600 false true true 31 December 2022 1 January 2022 false 1 January 2023 31 December 2023 31 December 2023 SC241590 Mrs Melanie Baillie Mr Steven Ross Mrs Mhairi Ross Mrs Mhairi Ross iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure SC241590 2022-12-31 SC241590 2023-12-31 SC241590 2023-01-01 2023-12-31 SC241590 frs-core:CurrentFinancialInstruments 2023-12-31 SC241590 frs-core:Non-currentFinancialInstruments 2023-12-31 SC241590 frs-core:ComputerEquipment 2023-12-31 SC241590 frs-core:ComputerEquipment 2023-01-01 2023-12-31 SC241590 frs-core:ComputerEquipment 2022-12-31 SC241590 frs-core:FurnitureFittings 2023-12-31 SC241590 frs-core:FurnitureFittings 2023-01-01 2023-12-31 SC241590 frs-core:FurnitureFittings 2022-12-31 SC241590 frs-core:RevaluationReserve 2023-01-01 2023-12-31 SC241590 frs-core:RevaluationReserve 2022-12-31 SC241590 frs-core:RevaluationReserve 2023-12-31 SC241590 frs-core:ShareCapital 2023-12-31 SC241590 frs-core:RetainedEarningsAccumulatedLosses 2023-12-31 SC241590 frs-bus:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 SC241590 frs-bus:FilletedAccounts 2023-01-01 2023-12-31 SC241590 frs-bus:SmallEntities 2023-01-01 2023-12-31 SC241590 frs-bus:AuditExempt-NoAccountantsReport 2023-01-01 2023-12-31 SC241590 frs-bus:SmallCompaniesRegimeForAccounts 2023-01-01 2023-12-31 SC241590 frs-bus:Director1 2023-01-01 2023-12-31 SC241590 frs-bus:Director2 2023-01-01 2023-12-31 SC241590 frs-bus:Director3 2023-01-01 2023-12-31 SC241590 frs-bus:CompanySecretary1 2023-01-01 2023-12-31 SC241590 frs-countries:Scotland 2023-01-01 2023-12-31 SC241590 2021-12-31 SC241590 2022-12-31 SC241590 2022-01-01 2022-12-31 SC241590 frs-core:CurrentFinancialInstruments 2022-12-31 SC241590 frs-core:Non-currentFinancialInstruments 2022-12-31 SC241590 frs-core:RevaluationReserve 2022-12-31 SC241590 frs-core:ShareCapital 2022-12-31 SC241590 frs-core:RetainedEarningsAccumulatedLosses 2022-12-31
Registered number: SC241590
Techmuiry Ltd.
Unaudited Financial Statements
For The Year Ended 31 December 2023
M Squared Accountants Ltd
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: SC241590
2023 2022
Notes £ £ £ £
FIXED ASSETS
Investment Properties 5 143,500 228,500
143,500 228,500
CURRENT ASSETS
Debtors 278 375
Cash at bank and in hand 45,101 1,323
45,379 1,698
Creditors: Amounts Falling Due Within One Year 6 (36,098 ) (30,694 )
NET CURRENT ASSETS (LIABILITIES) 9,281 (28,996 )
TOTAL ASSETS LESS CURRENT LIABILITIES 152,781 199,504
Creditors: Amounts Falling Due After More Than One Year 7 (30,445 ) (67,866 )
PROVISIONS FOR LIABILITIES
Deferred Taxation (13,700 ) (13,700 )
NET ASSETS 108,636 117,938
CAPITAL AND RESERVES
Called up share capital 8 20 20
Revaluation reserve 9 42,905 72,103
Profit and Loss Account 65,711 45,815
SHAREHOLDERS' FUNDS 108,636 117,938
Page 1
Page 2
For the year ending 31 December 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
Mrs Mhairi Ross
Director
26/08/2024
The notes on pages 3 to 5 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Techmuiry Ltd. is a private company, limited by shares, incorporated in Scotland, registered number SC241590 . The registered office is 9 Fair Isle Drive, Fraserburgh, Aberdeenshire, AB43 7FY.
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. Going Concern Disclosure
The directors, having made due and careful enquiry, are of the opinion that the company has adequate working capital to execute its operations over the next 12 months. The directors, therefore, have made an informed judgement, at the time of approving the financial statements, that there is reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future, As a result, the directors have continued to adopt the going concern basis of accounting in preparing the annual financial statements. The directors will not seek to draw their loan balances unless they are satisfied that adequate resources will be available to meet all other creditors as they fall due.
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:
Fixtures & Fittings 2% Straight line
Computer Equipment 33% Straight line
2.4. Investment Properties
All investment properties are carried at fair value determined annually and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided for. Changes in fair value are recognised in the profit and loss account.
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 year 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 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.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 3 (2022: 3)
3 3
Page 3
Page 4
4. Tangible Assets
Fixtures & Fittings Computer Equipment Total
£ £ £
Cost
As at 1 January 2023 18,032 3,012 21,044
As at 31 December 2023 18,032 3,012 21,044
Depreciation
As at 1 January 2023 18,032 3,012 21,044
As at 31 December 2023 18,032 3,012 21,044
Net Book Value
As at 31 December 2023 - - -
As at 1 January 2023 - - -
Cost or valuation as at 31 December 2023 represented by:
Fixtures & Fittings Computer Equipment Total
£ £ £
At cost 18,032 3,012 21,044
18,032 3,012 21,044
The investment properties were revalued in 2016 and are reported at estimated market value. The revaluation exercise was carried out by the directors who have knowlege and experience of the local property market. No change was considered necessary in these financial statements.
5. Investment Property
2023
£
Fair Value
As at 1 January 2023 228,500
Disposals (85,000 )
As at 31 December 2023 143,500
6. Creditors: Amounts Falling Due Within One Year
2023 2022
£ £
Bank loans and overdrafts 4,664 4,502
Accruals and deferred income 681 601
Directors' loan accounts 30,753 25,591
36,098 30,694
7. Creditors: Amounts Falling Due After More Than One Year
2023 2022
£ £
Bank loans 30,445 67,866
Page 4
Page 5
8. Share Capital
2023 2022
£ £
Allotted, Called up and fully paid 20 20
9. Reserves
Revaluation Reserve
£
As at 1 January 2023 72,103
Transfer to profit and loss (29,198 )
As at 31 December 2023 42,905
Page 5