Acorah Software Products - Accounts Production 15.0.600 false true true 31 December 2022 1 January 2022 false 1 January 2023 31 December 2023 31 December 2023 SC648743 Mr J Boyle iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure SC648743 2022-12-31 SC648743 2023-12-31 SC648743 2023-01-01 2023-12-31 SC648743 frs-core:CurrentFinancialInstruments 2023-12-31 SC648743 frs-core:Non-currentFinancialInstruments 2023-12-31 SC648743 frs-core:ComputerEquipment 2023-12-31 SC648743 frs-core:ComputerEquipment 2023-01-01 2023-12-31 SC648743 frs-core:ComputerEquipment 2022-12-31 SC648743 frs-core:DevelopmentCostsCapitalisedDevelopmentExpenditure 2023-01-01 2023-12-31 SC648743 frs-core:OtherResidualIntangibleAssets 2023-12-31 SC648743 frs-core:OtherResidualIntangibleAssets 2023-01-01 2023-12-31 SC648743 frs-core:OtherResidualIntangibleAssets 2022-12-31 SC648743 frs-core:PlantMachinery 2023-12-31 SC648743 frs-core:PlantMachinery 2023-01-01 2023-12-31 SC648743 frs-core:PlantMachinery 2022-12-31 SC648743 frs-core:ShareCapital 2023-12-31 SC648743 frs-core:RetainedEarningsAccumulatedLosses 2023-12-31 SC648743 frs-bus:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 SC648743 frs-bus:FilletedAccounts 2023-01-01 2023-12-31 SC648743 frs-bus:SmallEntities 2023-01-01 2023-12-31 SC648743 frs-bus:AuditExempt-NoAccountantsReport 2023-01-01 2023-12-31 SC648743 frs-bus:SmallCompaniesRegimeForAccounts 2023-01-01 2023-12-31 SC648743 frs-bus:Director1 2023-01-01 2023-12-31 SC648743 frs-countries:Scotland 2023-01-01 2023-12-31 SC648743 2021-12-31 SC648743 2022-12-31 SC648743 2022-01-01 2022-12-31 SC648743 frs-core:CurrentFinancialInstruments 2022-12-31 SC648743 frs-core:Non-currentFinancialInstruments 2022-12-31 SC648743 frs-core:ShareCapital 2022-12-31 SC648743 frs-core:RetainedEarningsAccumulatedLosses 2022-12-31
Registered number: SC648743
OIS Inventions Limited
Unaudited Financial Statements
For The Year Ended 31 December 2023
Sense Accounting Limited
36 Bruntsfield Place
Edinburgh
EH10 4HJ
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: SC648743
2023 2022
Notes £ £ £ £
FIXED ASSETS
Intangible Assets 4 6,909 7,323
Tangible Assets 5 1,867 684
8,776 8,007
CURRENT ASSETS
Debtors 6 1,400 553
Cash at bank and in hand 42 4,227
1,442 4,780
Creditors: Amounts Falling Due Within One Year 7 (79,591 ) (23,135 )
NET CURRENT ASSETS (LIABILITIES) (78,149 ) (18,355 )
TOTAL ASSETS LESS CURRENT LIABILITIES (69,373 ) (10,348 )
Creditors: Amounts Falling Due After More Than One Year 8 (32,330 ) (29,198 )
NET LIABILITIES (101,703 ) (39,546 )
CAPITAL AND RESERVES
Called up share capital 9 100 100
Profit and Loss Account (101,803 ) (39,646 )
SHAREHOLDERS' FUNDS (101,703) (39,546)
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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 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 J Boyle
Director
30 September 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
OIS Inventions Limited is a private company, limited by shares, incorporated in Scotland, registered number SC648743 . The registered office is Alloa Business Centre, The Whins, Alloa, Clackmannanshire, FK10 3SA.
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. Going Concern Disclosure
With due consideration of the company's net current liability position, with his continued financial support, the director has concluded that he has a reasonable expectation that the company has adequate access to resources to continue as a going concern for a period of at least 12 months.  Accordingly, they continue to adopt the going concern basis in preparing these financial statements.
2.3. 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. 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.
2.4. Intangible Fixed Assets and Amortisation - Other Intangible
Other intangible assets are patents. It is amortised to profit and loss account over its estimated economic life of 20 years.
2.5. 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% straight line
Computer Equipment 25% straight line
3. Average Number of Employees
Average number of employees, including directors, during the year was: 2 (2022: 1)
2 1
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4. Intangible Assets
Other
£
Cost
As at 1 January 2023 8,289
As at 31 December 2023 8,289
Amortisation
As at 1 January 2023 966
Provided during the period 414
As at 31 December 2023 1,380
Net Book Value
As at 31 December 2023 6,909
As at 1 January 2023 7,323
5. Tangible Assets
Plant & Machinery Computer Equipment Total
£ £ £
Cost
As at 1 January 2023 - 1,371 1,371
Additions 1,312 667 1,979
As at 31 December 2023 1,312 2,038 3,350
Depreciation
As at 1 January 2023 - 687 687
Provided during the period 87 709 796
As at 31 December 2023 87 1,396 1,483
Net Book Value
As at 31 December 2023 1,225 642 1,867
As at 1 January 2023 - 684 684
6. Debtors
2023 2022
£ £
Due within one year
Prepayments and accrued income 345 231
VAT 1,055 322
1,400 553
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7. Creditors: Amounts Falling Due Within One Year
2023 2022
£ £
Trade creditors 2,699 261
Bank loans and overdrafts 5,790 11,303
Other taxes and social security 560 -
Other creditors 161 150
Accruals and deferred income 850 850
Director's loan account 69,531 10,571
79,591 23,135
8. Creditors: Amounts Falling Due After More Than One Year
2023 2022
£ £
Bank loans 32,330 29,198
9. Share Capital
2023 2022
£ £
Allotted, Called up and fully paid 100 100
10. Related Party Transactions
As at 31 December 2023, the amount owed to Mr J Boyle by the company was £69,531 (2022: £10,571).
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