Acorah Software Products - Accounts Production 15.0.600 false true true 28 February 2023 1 March 2022 false 1 March 2023 29 February 2024 29 February 2024 SC656017 B Denly iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure SC656017 2023-02-28 SC656017 2024-02-29 SC656017 2023-03-01 2024-02-29 SC656017 frs-core:CurrentFinancialInstruments 2024-02-29 SC656017 frs-core:Non-currentFinancialInstruments 2024-02-29 SC656017 frs-core:ShareCapital 2024-02-29 SC656017 frs-core:RetainedEarningsAccumulatedLosses 2024-02-29 SC656017 frs-bus:PrivateLimitedCompanyLtd 2023-03-01 2024-02-29 SC656017 frs-bus:FilletedAccounts 2023-03-01 2024-02-29 SC656017 frs-bus:SmallEntities 2023-03-01 2024-02-29 SC656017 frs-bus:AuditExempt-NoAccountantsReport 2023-03-01 2024-02-29 SC656017 frs-bus:SmallCompaniesRegimeForAccounts 2023-03-01 2024-02-29 SC656017 frs-bus:Director1 2023-03-01 2024-02-29 SC656017 frs-bus:Director1 2023-02-28 SC656017 frs-bus:Director1 2024-02-29 SC656017 frs-countries:EnglandWales 2023-03-01 2024-02-29 SC656017 2022-02-28 SC656017 2023-02-28 SC656017 2022-03-01 2023-02-28 SC656017 frs-core:CurrentFinancialInstruments 2023-02-28 SC656017 frs-core:Non-currentFinancialInstruments 2023-02-28 SC656017 frs-core:ShareCapital 2023-02-28 SC656017 frs-core:RetainedEarningsAccumulatedLosses 2023-02-28
Registered number: SC656017
Accelerate Sales Ltd
Unaudited Financial Statements
For The Year Ended 29 February 2024
Modus Accountants Ltd
Unit 1c Church Green
Witney
OX28 4YR
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—4
Page 1
Balance Sheet
Registered number: SC656017
2024 2023
Notes £ £ £ £
FIXED ASSETS
CURRENT ASSETS
Debtors 4 69 1,432
Cash at bank and in hand 1,222 -
1,291 1,432
Creditors: Amounts Falling Due Within One Year 5 (4,511 ) (4,092 )
NET CURRENT ASSETS (LIABILITIES) (3,220 ) (2,660 )
TOTAL ASSETS LESS CURRENT LIABILITIES (3,220 ) (2,660 )
Creditors: Amounts Falling Due After More Than One Year 6 (4,678 ) (4,467 )
NET LIABILITIES (7,898 ) (7,127 )
CAPITAL AND RESERVES
Called up share capital 7 2 2
Profit and Loss Account (7,900 ) (7,129 )
SHAREHOLDERS' FUNDS (7,898) (7,127)
Page 1
Page 2
For the year ending 29 February 2024 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
B Denly
Director
14 August 2024
The notes on pages 3 to 4 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Accelerate Sales Ltd is a private company, limited by shares, incorporated in England & Wales, registered number SC656017 . The registered office is 272 Bath Street, Glasgow, G2 4JR.
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 believe that the going concern basis is not appropriate as the company ceased trading on 28 February 2023 and will be put into liquidation.
2.3. Borrowings
Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, witih the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.
Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.
Borrowings are classified as current liabilities unless the company has unconditional right to defer settlement of the liability for at least twelve months after the reporting date.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 1 (2023: 2)
1 2
4. Debtors
2024 2023
£ £
Due within one year
Other debtors 69 1,432
5. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 143 -
Bank loans and overdrafts 4,000 4,000
Other creditors 368 -
Taxation and social security - 92
4,511 4,092
6. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Bank loans 4,678 4,467
7. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 2 2
Page 3
Page 4
8. Directors Advances, Credits and Guarantees
Included within Debtors are the following loans to directors:
As at 1 March 2023 Amounts advanced Amounts repaid Amounts written off As at 29 February 2024
£ £ £ £ £
Mr Brett Denly 533 - (533 ) - -
The above loan is unsecured, interest free and repayable on demand.
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