Acorah Software Products - Accounts Production 15.0.600 false true 31 December 2022 1 January 2022 false 1 January 2023 31 December 2023 31 December 2023 SC616005 Mr Anton Ungerer Mrs Lorraine Ungerer iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure SC616005 2022-12-31 SC616005 2023-12-31 SC616005 2023-01-01 2023-12-31 SC616005 frs-core:CurrentFinancialInstruments 2023-12-31 SC616005 frs-core:ComputerEquipment 2023-12-31 SC616005 frs-core:ComputerEquipment 2023-01-01 2023-12-31 SC616005 frs-core:ComputerEquipment 2022-12-31 SC616005 frs-core:DevelopmentCostsCapitalisedDevelopmentExpenditure 2023-12-31 SC616005 frs-core:DevelopmentCostsCapitalisedDevelopmentExpenditure 2022-12-31 SC616005 frs-core:PlantMachinery 2023-12-31 SC616005 frs-core:PlantMachinery 2023-01-01 2023-12-31 SC616005 frs-core:PlantMachinery 2022-12-31 SC616005 frs-core:ShareCapital 2023-12-31 SC616005 frs-core:RetainedEarningsAccumulatedLosses 2023-12-31 SC616005 frs-bus:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 SC616005 frs-bus:FilletedAccounts 2023-01-01 2023-12-31 SC616005 frs-bus:SmallEntities 2023-01-01 2023-12-31 SC616005 frs-bus:AuditExempt-NoAccountantsReport 2023-01-01 2023-12-31 SC616005 frs-bus:SmallCompaniesRegimeForAccounts 2023-01-01 2023-12-31 SC616005 frs-bus:Director1 2023-01-01 2023-12-31 SC616005 frs-bus:Director2 2023-01-01 2023-12-31 SC616005 frs-countries:Scotland 2023-01-01 2023-12-31 SC616005 2021-12-31 SC616005 2022-12-31 SC616005 2022-01-01 2022-12-31 SC616005 frs-core:CurrentFinancialInstruments 2022-12-31 SC616005 frs-core:ShareCapital 2022-12-31 SC616005 frs-core:RetainedEarningsAccumulatedLosses 2022-12-31
Registered number: SC616005
Elfet Ltd
Financial Statements
For The Year Ended 31 December 2023
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: SC616005
2023 2022
Notes £ £ £ £
FIXED ASSETS
Intangible Assets 4 64,814 64,814
Tangible Assets 5 825 8,730
65,639 73,544
CURRENT ASSETS
Stocks 6 11,000 11,000
Debtors 7 10,431 6,003
Cash at bank and in hand 8,295 7,317
29,726 24,320
Creditors: Amounts Falling Due Within One Year 8 (166,954 ) (158,173 )
NET CURRENT ASSETS (LIABILITIES) (137,228 ) (133,853 )
TOTAL ASSETS LESS CURRENT LIABILITIES (71,589 ) (60,309 )
NET LIABILITIES (71,589 ) (60,309 )
CAPITAL AND RESERVES
Called up share capital 9 100 100
Profit and Loss Account (71,689 ) (60,409 )
SHAREHOLDERS' FUNDS (71,589) (60,309)
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
Mr Anton Ungerer
Director
9 September 2024
The notes on pages 3 to 5 form part of these financial statements.
Page 2
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Notes to the Financial Statements
1. General Information
Elfet Ltd is a private company, limited by shares, incorporated in Scotland, registered number SC616005 . The registered office is 73 Dunnikier Road, Kirkcaldy, KY1 2RL.
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
Expenditure on research and development is capitalised in the year it is incurred and no depreciation is charged to the accounts.
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:
Plant & Machinery 20% SL
Computer Equipment 20% SL
2.5. Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 2 (2022: 2)
2 2
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4. Intangible Assets
Development Costs
£
Cost
As at 1 January 2023 64,814
As at 31 December 2023 64,814
Net Book Value
As at 31 December 2023 64,814
As at 1 January 2023 64,814
5. Tangible Assets
Plant & Machinery Computer Equipment Total
£ £ £
Cost
As at 1 January 2023 17,932 21,593 39,525
As at 31 December 2023 17,932 21,593 39,525
Depreciation
As at 1 January 2023 14,220 16,575 30,795
Provided during the period 3,587 4,318 7,905
As at 31 December 2023 17,807 20,893 38,700
Net Book Value
As at 31 December 2023 125 700 825
As at 1 January 2023 3,712 5,018 8,730
6. Stocks
2023 2022
£ £
Finished goods 11,000 11,000
7. Debtors
2023 2022
£ £
Due within one year
Trade debtors 4,431 3
Other debtors 6,000 6,000
10,431 6,003
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8. Creditors: Amounts Falling Due Within One Year
2023 2022
£ £
Trade creditors - 131
Other taxes and social security 52 52
Other creditors 41,416 39,483
Accruals and deferred income 1,200 1,200
Directors' loan accounts 124,286 117,307
166,954 158,173
9. Share Capital
2023 2022
£ £
Allotted, Called up and fully paid 100 100
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