Acorah Software Products - Accounts Production 15.0.600 false true 31 July 2023 1 August 2022 false 1 August 2023 31 July 2024 31 July 2024 SC603518 Ms Lynn Black Mr Garry Hutton iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure SC603518 2023-07-31 SC603518 2024-07-31 SC603518 2023-08-01 2024-07-31 SC603518 frs-core:CurrentFinancialInstruments 2024-07-31 SC603518 frs-core:Non-currentFinancialInstruments 2024-07-31 SC603518 frs-core:ComputerEquipment 2024-07-31 SC603518 frs-core:ComputerEquipment 2023-08-01 2024-07-31 SC603518 frs-core:ComputerEquipment 2023-07-31 SC603518 frs-core:DevelopmentCostsCapitalisedDevelopmentExpenditure 2024-07-31 SC603518 frs-core:DevelopmentCostsCapitalisedDevelopmentExpenditure 2023-08-01 2024-07-31 SC603518 frs-core:DevelopmentCostsCapitalisedDevelopmentExpenditure 2023-07-31 SC603518 frs-core:FurnitureFittings 2024-07-31 SC603518 frs-core:FurnitureFittings 2023-08-01 2024-07-31 SC603518 frs-core:FurnitureFittings 2023-07-31 SC603518 frs-core:ShareCapital 2024-07-31 SC603518 frs-core:RetainedEarningsAccumulatedLosses 2024-07-31 SC603518 frs-bus:PrivateLimitedCompanyLtd 2023-08-01 2024-07-31 SC603518 frs-bus:FilletedAccounts 2023-08-01 2024-07-31 SC603518 frs-bus:SmallEntities 2023-08-01 2024-07-31 SC603518 frs-bus:AuditExempt-NoAccountantsReport 2023-08-01 2024-07-31 SC603518 frs-bus:SmallCompaniesRegimeForAccounts 2023-08-01 2024-07-31 SC603518 frs-bus:Director1 2023-08-01 2024-07-31 SC603518 frs-bus:Director2 2023-08-01 2024-07-31 SC603518 frs-core:CurrentFinancialInstruments 2 2024-07-31 SC603518 frs-core:CurrentFinancialInstruments 3 2024-07-31 SC603518 frs-countries:Scotland 2023-08-01 2024-07-31 SC603518 2022-07-31 SC603518 2023-07-31 SC603518 2022-08-01 2023-07-31 SC603518 frs-core:CurrentFinancialInstruments 2023-07-31 SC603518 frs-core:Non-currentFinancialInstruments 2023-07-31 SC603518 frs-core:ShareCapital 2023-07-31 SC603518 frs-core:RetainedEarningsAccumulatedLosses 2023-07-31 SC603518 frs-core:CurrentFinancialInstruments 2 2023-07-31 SC603518 frs-core:CurrentFinancialInstruments 3 2023-07-31 SC603518 frs-core:CurrentFinancialInstruments 4 2023-07-31
Registered number: SC603518
Love @ Care Ltd
Unaudited Financial Statements
For The Year Ended 31 July 2024
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: SC603518
2024 2023
Notes £ £ £ £
FIXED ASSETS
Intangible Assets 4 20,784 23,254
Tangible Assets 5 85,066 73,896
105,850 97,150
CURRENT ASSETS
Debtors 6 554,838 427,128
Cash at bank and in hand 15,036 28,889
569,874 456,017
Creditors: Amounts Falling Due Within One Year 7 (561,519 ) (746,294 )
NET CURRENT ASSETS (LIABILITIES) 8,355 (290,277 )
TOTAL ASSETS LESS CURRENT LIABILITIES 114,205 (193,127 )
Creditors: Amounts Falling Due After More Than One Year 8 (20,833 ) (18,333 )
NET ASSETS/(LIABILITIES) 93,372 (211,460 )
CAPITAL AND RESERVES
Called up share capital 9 1 1
Profit and Loss Account 93,371 (211,461 )
SHAREHOLDERS' FUNDS 93,372 (211,460)
Page 1
Page 2
For the year ending 31 July 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
Ms Lynn Black
Director
25th August 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
Love @ Care Ltd is a private company, limited by shares, incorporated in Scotland, registered number SC603518 . The registered office is 2 Candymill Lane, Hamilton, ML3 0FD.
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. Research and Development
In the research phase of an internal project it is not possible to demonstrate that the project will generate future economic benefits and hence all expenditure on research is recognised as an expense when it is incurred. Intangible assets are recognised from the development phase of a project if and only if certain specific criteria are met in order to demonstrate the asset will generate probable future economic benefits and that its cost can be reliably measured. The capitalised development costs are subsequently amortised to ... on a straight line basis over their expected useful economic lives, which range from ... to ... years.
If it is not possible to distinguish between the research phase and the development phase of an internal project the expenditure is treated as if it were all incurred in the research phase only.
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:
Fixtures & Fittings 20% Straight Line
Computer Equipment 20% Straight Line
3. Average Number of Employees
Average number of employees, including directors, during the year was: 200 (2023: 200)
200 200
4. Intangible Assets
Development Costs
£
Cost
As at 1 August 2023 24,694
As at 31 July 2024 24,694
...CONTINUED
Page 3
Page 4
Amortisation
As at 1 August 2023 1,440
Provided during the period 2,470
As at 31 July 2024 3,910
Net Book Value
As at 31 July 2024 20,784
As at 1 August 2023 23,254
5. Tangible Assets
Fixtures & Fittings Computer Equipment Total
£ £ £
Cost
As at 1 August 2023 96,770 18,940 115,710
Additions 34,430 7,582 42,012
As at 31 July 2024 131,200 26,522 157,722
Depreciation
As at 1 August 2023 36,120 5,694 41,814
Provided during the period 23,708 7,134 30,842
As at 31 July 2024 59,828 12,828 72,656
Net Book Value
As at 31 July 2024 71,372 13,694 85,066
As at 1 August 2023 60,650 13,246 73,896
6. Debtors
2024 2023
£ £
Due within one year
Trade debtors 389,688 189,777
Prepayments and accrued income 145,150 219,351
Other debtors 20,000 18,000
554,838 427,128
7. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 61,344 33,472
Bank loans and overdrafts 47,500 10,000
Other taxes and social security 638,257 989,950
Net wages 4,662 -
Other creditors 1,100 1,200
Bibby Loan account 320,710 196,761
Intercompany (512,054 ) (466,864 )
Other loans - (18,225 )
561,519 746,294
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8. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Bank loans 20,833 18,333
9. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 1 1
Page 5