Acorah Software Products - Accounts Production 15.0.600 false true 30 November 2022 1 December 2021 false 1 December 2022 30 November 2023 30 November 2023 SC657983 Mr Stewart McGrenary iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure SC657983 2022-11-30 SC657983 2023-11-30 SC657983 2022-12-01 2023-11-30 SC657983 frs-core:CurrentFinancialInstruments 2023-11-30 SC657983 frs-core:ShareCapital 2023-11-30 SC657983 frs-core:RetainedEarningsAccumulatedLosses 2023-11-30 SC657983 frs-bus:PrivateLimitedCompanyLtd 2022-12-01 2023-11-30 SC657983 frs-bus:FilletedAccounts 2022-12-01 2023-11-30 SC657983 frs-bus:SmallEntities 2022-12-01 2023-11-30 SC657983 frs-bus:AuditExempt-NoAccountantsReport 2022-12-01 2023-11-30 SC657983 frs-bus:SmallCompaniesRegimeForAccounts 2022-12-01 2023-11-30 SC657983 frs-core:FurtherSpecificReserve1ComponentTotalEquity 2022-11-30 SC657983 frs-core:FurtherSpecificReserve1ComponentTotalEquity 2023-11-30 SC657983 frs-core:ListedExchangeTraded 2023-11-30 SC657983 frs-core:ListedExchangeTraded 2022-11-30 SC657983 frs-core:CostValuation frs-core:ListedExchangeTraded 2022-11-30 SC657983 frs-core:AdditionsToInvestments frs-core:ListedExchangeTraded 2023-11-30 SC657983 frs-core:DisposalsRepaymentsInvestments frs-core:ListedExchangeTraded 2023-11-30 SC657983 frs-core:OtherIncreaseDecreaseInInvestments frs-core:ListedExchangeTraded 2023-11-30 SC657983 frs-core:CostValuation frs-core:ListedExchangeTraded 2023-11-30 SC657983 frs-core:ProvisionsForImpairmentInvestments frs-core:ListedExchangeTraded 2022-11-30 SC657983 frs-core:FurtherSpecificIncreaseDecreaseInProvisionsForImpairmentInvestments1ComponentCorrespondingTotal frs-core:ListedExchangeTraded 2023-11-30 SC657983 frs-core:ProvisionsForImpairmentInvestments frs-core:ListedExchangeTraded 2023-11-30 SC657983 frs-bus:Director1 2022-12-01 2023-11-30 SC657983 frs-countries:Scotland 2022-12-01 2023-11-30 SC657983 2021-11-30 SC657983 2022-11-30 SC657983 2021-12-01 2022-11-30 SC657983 frs-core:CurrentFinancialInstruments 2022-11-30 SC657983 frs-core:ShareCapital 2022-11-30 SC657983 frs-core:RetainedEarningsAccumulatedLosses 2022-11-30 SC657983 frs-core:FurtherSpecificReserve1ComponentTotalEquity 2022-11-30
Registered number: SC657983
Phonesmart Investments Ltd
Unaudited Financial Statements
For The Year Ended 30 November 2023
Clarity Accounting (Scotland) Ltd
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—4
Page 1
Balance Sheet
Registered number: SC657983
2023 2022
Notes £ £ £ £
FIXED ASSETS
Investments 4 2,192,399 627,587
2,192,399 627,587
CURRENT ASSETS
Debtors 5 500,000 -
Cash at bank and in hand 8,395 233
508,395 233
Creditors: Amounts Falling Due Within One Year 6 (15,001 ) (18,407 )
NET CURRENT ASSETS (LIABILITIES) 493,394 (18,174 )
TOTAL ASSETS LESS CURRENT LIABILITIES 2,685,793 609,413
NET ASSETS 2,685,793 609,413
CAPITAL AND RESERVES
Called up share capital 7 1,100 1,100
Fair Value Reserve 8 310,716 (1,326,249 )
Profit and Loss Account 2,373,977 1,934,562
SHAREHOLDERS' FUNDS 2,685,793 609,413
Page 1
Page 2
For the year ending 30 November 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 Stewart McGrenary
Director
30/08/2024
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
Phonesmart Investments Ltd is a private company, limited by shares, incorporated in Scotland, registered number SC657983 . The registered office is Flat 11/2, 505 Stobcross Street, Glasgow, G3 8GJ.
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. 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.
2.3. 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.
3. Average Number of Employees
Average number of employees, including directors, during the year was: NIL (2022: NIL)
- -
4. Investments
Listed
£
Cost
As at 1 December 2022 627,587
Additions 1,542,499
Disposals (506,564 )
Other 117,429
As at 30 November 2023 1,780,951
Provision
As at 1 December 2022 -
Revaluations (411,448 )
As at 30 November 2023 (411,448 )
...CONTINUED
Page 3
Page 4
Net Book Value
As at 30 November 2023 2,192,399
As at 1 December 2022 627,587
5. Debtors
2023 2022
£ £
Due within one year
Amounts owed by group undertakings 500,000 -
6. Creditors: Amounts Falling Due Within One Year
2023 2022
£ £
Trade creditors 1 -
Amounts owed to group undertakings 15,000 15,000
Taxation and social security - 3,407
15,001 18,407
7. Share Capital
2023 2022
£ £
Allotted, Called up and fully paid 1,100 1,100
8. Reserves
Fair Value Reserve
£
As at 1 December 2022 (1,326,249 )
Movements in fair value reserve 1,636,965
As at 30 November 2023 310,716
Page 4