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 SC584481 Mr Edward McGowan iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure SC584481 2022-12-31 SC584481 2023-12-31 SC584481 2023-01-01 2023-12-31 SC584481 frs-core:CurrentFinancialInstruments 2023-12-31 SC584481 frs-core:PlantMachinery 2023-12-31 SC584481 frs-core:PlantMachinery 2023-01-01 2023-12-31 SC584481 frs-core:PlantMachinery 2022-12-31 SC584481 frs-core:ShareCapital 2023-12-31 SC584481 frs-core:RetainedEarningsAccumulatedLosses 2023-12-31 SC584481 frs-bus:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 SC584481 frs-bus:FilletedAccounts 2023-01-01 2023-12-31 SC584481 frs-bus:SmallEntities 2023-01-01 2023-12-31 SC584481 frs-bus:AuditExempt-NoAccountantsReport 2023-01-01 2023-12-31 SC584481 frs-bus:SmallCompaniesRegimeForAccounts 2023-01-01 2023-12-31 SC584481 frs-core:AcceleratedTaxDepreciationDeferredTax 2023-12-31 SC584481 frs-bus:Director1 2023-01-01 2023-12-31 SC584481 frs-countries:Scotland 2023-01-01 2023-12-31 SC584481 2021-12-31 SC584481 2022-12-31 SC584481 2022-01-01 2022-12-31 SC584481 frs-core:CurrentFinancialInstruments 2022-12-31 SC584481 frs-core:ShareCapital 2022-12-31 SC584481 frs-core:RetainedEarningsAccumulatedLosses 2022-12-31 SC584481 frs-core:AcceleratedTaxDepreciationDeferredTax 2022-12-31
Registered number: SC584481
Emedge Ltd
Unaudited Financial Statements
For The Year Ended 31 December 2023
GM Accounting Limited
Chartered Certified Accountants
41 Kilmaurs Road
Edinburgh
EH16 5DB
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: SC584481
2023 2022
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 1,321 819
1,321 819
CURRENT ASSETS
Debtors 5 5,443 21,260
Cash at bank and in hand 31,944 57,360
37,387 78,620
Creditors: Amounts Falling Due Within One Year 6 (1,672 ) (18,518 )
NET CURRENT ASSETS (LIABILITIES) 35,715 60,102
TOTAL ASSETS LESS CURRENT LIABILITIES 37,036 60,921
PROVISIONS FOR LIABILITIES
Deferred Taxation 7 (251 ) (147 )
NET ASSETS 36,785 60,774
CAPITAL AND RESERVES
Called up share capital 8 100 100
Profit and Loss Account 36,685 60,674
SHAREHOLDERS' FUNDS 36,785 60,774
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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 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 Edward McGowan
Director
24/09/2024
The notes on pages 3 to 5 form part of these financial statements.
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Notes to the Financial Statements
1. General Information
Emedge Ltd is a private company, limited by shares, incorporated in Scotland, registered number SC584481 . The registered office is 78 Lumsdaine Drive, Dalgety Bay, KY11 9YU.
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. 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 25% Reducing balance
2.4. 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: 1 (2022: 1)
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4. Tangible Assets
Plant & Machinery
£
Cost
As at 1 January 2023 3,467
Additions 942
As at 31 December 2023 4,409
Depreciation
As at 1 January 2023 2,648
Provided during the period 440
As at 31 December 2023 3,088
Net Book Value
As at 31 December 2023 1,321
As at 1 January 2023 819
5. Debtors
2023 2022
£ £
Due within one year
Trade debtors - 17,250
Prepayments and accrued income 260 4,010
Corporation tax recoverable assets 4,675 -
Other taxes and social security 508 -
5,443 21,260
6. Creditors: Amounts Falling Due Within One Year
2023 2022
£ £
Trade creditors 1 1
Corporation tax - 10,712
Other taxes and social security - 2,359
Accruals and deferred income 1,150 3,025
Director's loan account 521 2,421
1,672 18,518
7. Deferred Taxation
The provision for deferred tax is made up as follows:
2023 2022
£ £
Accelerated capital allowances 251 147
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8. Share Capital
2023 2022
£ £
Allotted, Called up and fully paid 100 100
9. Directors Advances, Credits and Guarantees
Dividends paid to directors
2023 2022
£ £
Mr Edward McGowan - 2,000
10. Related Party Transactions
Other creditors as at 31 December 2022 included a balance of £2,421 due to Mr E McGowan, Company director (2021: Other debtors as at 31 December 2021 included a balance of £835 due from Mr E McGowan).
The maximum amount owed during the year by Mr McGowan was £10,022.
This loan was interest free and repayable on demand.
During the year EMEDGE Limited engaged Mr Edrawd McGowan to provide branding and marketing consultancy and web design services, he is the son of the comany owner Mr Edward McGowan. These services were priced at the current market rate and the total cost was £4,617 (2022: £1,500).
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