Acorah Software Products - Accounts Production 15.0.600 false true 31 March 2023 1 April 2022 true No description of principal activity 1 April 2023 31 March 2024 31 March 2024 SC372085 Mr Gordon Adam Mr Thomas Prag Ms Nicola Harford Dr Emrys Schoemaker iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure SC372085 2023-03-31 SC372085 2024-03-31 SC372085 2023-04-01 2024-03-31 SC372085 frs-core:CurrentFinancialInstruments 2024-03-31 SC372085 frs-core:ShareCapital 2024-03-31 SC372085 frs-core:RetainedEarningsAccumulatedLosses 2024-03-31 SC372085 frs-bus:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 SC372085 frs-bus:FullAccounts 2023-04-01 2024-03-31 SC372085 frs-bus:SmallEntities 2023-04-01 2024-03-31 SC372085 frs-bus:AuditExemptWithAccountantsReport 2023-04-01 2024-03-31 SC372085 frs-bus:SmallCompaniesRegimeForAccounts 2023-04-01 2024-03-31 SC372085 frs-bus:SmallCompaniesRegimeForDirectorsReport 2023-04-01 2024-03-31 SC372085 frs-bus:Director1 2023-04-01 2024-03-31 SC372085 frs-bus:Director2 2023-04-01 2024-03-31 SC372085 frs-bus:Director3 2023-04-01 2024-03-31 SC372085 frs-bus:Director4 2023-04-01 2024-03-31 SC372085 frs-countries:Scotland 2023-04-01 2024-03-31 SC372085 2022-03-31 SC372085 2023-03-31 SC372085 2022-04-01 2023-03-31 SC372085 frs-core:CurrentFinancialInstruments 2023-03-31 SC372085 frs-core:ShareCapital 2023-03-31 SC372085 frs-core:RetainedEarningsAccumulatedLosses 2023-03-31
Registered number: SC372085
iMedia Associates Limited
Directors' Report and
Unaudited Financial Statements
For The Year Ended 31 March 2024
ABT & P Consultancy Services
Contents
Page
Company Information 1
Directors' Report 2
Accountant's Report 3
Profit and Loss Account 4
Balance Sheet 5
Notes to the Financial Statements 6
Page 1
Company Information
Directors Mr Gordon Adam
Mr Thomas Prag
Ms Nicola Harford
Dr Emrys Schoemaker
Company Number SC372085
Registered Office 56a Culcabock Avenue
Inverness
IV2 3RQ
Accountants ABT & P Consultancy Services
Certifed Practising Accountant
56a Culcabock Avenue
Inverness
IV2 3RQ
Page 1
Page 2
Directors' Report
The directors present their report and the financial statements for the year ended 31 March 2024.
Directors
The directors who held office during the year were as follows:
Mr Gordon Adam
Mr Thomas Prag
Ms Nicola Harford
Dr Emrys Schoemaker
Statement of Directors' Responsibilities
The directors are responsible for preparing the Directors' Report and the financial statements in accordance with applicable law and regulations.
Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing the financial statements the directors are required to:
  • select suitable accounting policies and then apply them consistently;
  • make judgments and accounting estimates that are reasonable and prudent;
  • prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.
The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
The directors are responsible for the maintenance and integrity of the corporate and financial information included on the company's website. Legislation in the United Kingdom governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.
Small Company Rules
This report has been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.
On behalf of the board
Mr Gordon Adam
Director
08/08/2024
Page 2
Page 3
Accountant's Report
In order to assist you to fulfil your duties under the Companies Act 2006, we have compiled the financial statements of the company from the accounting records and information and explanations you have given to us.
This report is made to the directors in accordance with the terms of our engagement. Our work has been undertaken to prepare for approval by the directors the financial statements that we have been engaged to compile, to report to the directors that we have done so, and to state those matters that we have agreed to state to them in this report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the Company and the Company's directors for our work or for this report.
You have acknowledged on the balance sheet as at year ended 31 March 2024 your duty to ensure that the company has kept proper accounting records and to prepare financial statements that give a true and fair view under the Companies Act 2006. You consider that the company is exempt from the statutory requirement for an audit for the year.
We have not been instructed to carry out an audit of the financial statements. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the financial statements.
Signed
08/08/2024
ABT & P Consultancy Services
Certifed Practising Accountant
56a Culcabock Avenue
Inverness
IV2 3RQ
Page 3
Page 4
Profit and Loss Account
2024 2023
Notes £ £
TURNOVER 147,717 176,892
Cost of sales (122,472 ) (147,162 )
GROSS PROFIT 25,245 29,730
Administrative expenses (23,595 ) (20,925 )
OPERATING PROFIT 1,650 8,805
Other interest receivable and similar income 343 198
PROFIT FOR THE FINANCIAL YEAR 1,993 9,003
The notes on page 6 form part of these financial statements.
Page 4
Page 5
Balance Sheet
2024 2023
Notes £ £ £ £
CURRENT ASSETS
Debtors 4 25,725 17,959
Cash at bank and in hand 59,141 69,594
84,866 87,553
Creditors: Amounts Falling Due Within One Year 5 (26,951 ) (31,631 )
NET CURRENT ASSETS (LIABILITIES) 57,915 55,922
TOTAL ASSETS LESS CURRENT LIABILITIES 57,915 55,922
NET ASSETS 57,915 55,922
CAPITAL AND RESERVES
Called up share capital 6 100 100
Profit and Loss Account 57,815 55,822
SHAREHOLDERS' FUNDS 57,915 55,922
For the year ending 31 March 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 in accordance with the provisions applicable to companies subject to the small companies' regime.
On behalf of the board
Mr Gordon Adam
Director
08/08/2024
The notes on page 6 form part of these financial statements.
Page 5
Page 6
Notes to the Financial Statements
1. General Information
iMedia Associates Limited is a private company, limited by shares, incorporated in Scotland, registered number SC372085 . The registered office is 56a Culcabock Avenue, Inverness, IV2 3RQ.
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. 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.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 1 (2023: 1)
1 1
4. Debtors
2024 2023
£ £
Due within one year
Trade debtors 25,725 17,959
5. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 20,185 9,139
VAT 4,121 4,986
Other creditors 245 56
Accruals and deferred income 2,400 17,450
26,951 31,631
6. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 100 100
Page 6