Acorah Software Products - Accounts Production 15.0.600 false true 28 February 2023 1 March 2022 false 1 March 2023 29 February 2024 29 February 2024 SC392223 Leah Hutcheon Paul Reid (resigned 28 May 2024) Kenneth Fraser Sarah Williams MBM Secretarial Services Limited iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure SC392223 2023-02-28 SC392223 2024-02-29 SC392223 2023-03-01 2024-02-29 SC392223 frs-core:Non-currentFinancialInstruments 2024-02-29 SC392223 frs-core:FurnitureFittings 2023-03-01 2024-02-29 SC392223 frs-core:MotorVehicles 2023-03-01 2024-02-29 SC392223 frs-core:PlantMachinery 2023-03-01 2024-02-29 SC392223 frs-core:SharePremium 2024-02-29 SC392223 frs-core:ShareCapital 2024-02-29 SC392223 frs-core:RetainedEarningsAccumulatedLosses 2024-02-29 SC392223 frs-bus:PrivateLimitedCompanyLtd 2023-03-01 2024-02-29 SC392223 frs-bus:AbridgedAccounts 2023-03-01 2024-02-29 SC392223 frs-bus:SmallEntities 2023-03-01 2024-02-29 SC392223 frs-bus:AuditExempt-NoAccountantsReport 2023-03-01 2024-02-29 SC392223 frs-bus:SmallCompaniesRegimeForAccounts 2023-03-01 2024-02-29 SC392223 frs-bus:Director1 2023-03-01 2024-02-29 SC392223 frs-bus:Director2 2023-03-01 2024-02-29 SC392223 frs-bus:Director3 2023-03-01 2024-02-29 SC392223 frs-bus:Director4 2023-03-01 2024-02-29 SC392223 frs-bus:CompanySecretary1 2023-03-01 2024-02-29 SC392223 frs-countries:Scotland 2023-03-01 2024-02-29 SC392223 2022-02-28 SC392223 2023-02-28 SC392223 2022-03-01 2023-02-28 SC392223 frs-core:Non-currentFinancialInstruments 2023-02-28 SC392223 frs-core:SharePremium 2023-02-28 SC392223 frs-core:ShareCapital 2023-02-28 SC392223 frs-core:RetainedEarningsAccumulatedLosses 2023-02-28
Registered number: SC392223
Saloca Ltd
Unaudited ABRIDGED Financial Statements
For The Year Ended 29 February 2024
Prime Numbers
Chartered Accountants
1 Lochrin Square
92 Fountainbridge
Edinburgh
EH3 9QA
Contents
Page
Abridged Balance Sheet 1—2
Notes to the Abridged Financial Statements 3—4
Page 1
Abridged Balance Sheet
Registered number: SC392223
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 15,285 26,939
15,285 26,939
CURRENT ASSETS
Debtors 730,826 713,108
Cash at bank and in hand 714,196 282,628
1,445,022 995,736
Creditors: Amounts Falling Due Within One Year (1,007,548 ) (819,888 )
NET CURRENT ASSETS (LIABILITIES) 437,474 175,848
TOTAL ASSETS LESS CURRENT LIABILITIES 452,759 202,787
Creditors: Amounts Falling Due After More Than One Year - (267,146 )
PROVISIONS FOR LIABILITIES
Deferred Taxation (3,821 ) (5,432 )
NET ASSETS/(LIABILITIES) 448,938 (69,791 )
CAPITAL AND RESERVES
Called up share capital 5 3 3
Share premium account 3,289,211 2,629,637
Profit and Loss Account (2,840,276 ) (2,699,431 )
SHAREHOLDERS' FUNDS 448,938 (69,791)
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Page 2
For the year ending 29 February 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.
All of the company's members have consented to the preparation of an Abridged Balance Sheet for the year end 29 February 2024 in accordance with section 444(2A) of the Companies Act 2006.
On behalf of the board
Leah Hutcheon
Director
15/10/2024
The notes on pages 3 to 4 form part of these financial statements.
Page 2
Page 3
Notes to the Abridged Financial Statements
1. General Information
Saloca Ltd is a private company, limited by shares, incorporated in Scotland, registered number SC392223 . The registered office is Suite 2, Ground Floor Orchard Brae House, 30 Queensferry Road, Edinburgh, EH4 2HS.
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 thethe rendering of digital services. Turnover is reduced for estimated customer rebates.
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:
Computer equipment Straight line over 3 years
Website Straight line over 3 years
Office equipment Straight line over 3 years
2.4. 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.
2.5. 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 year 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 asset reflects 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.
2.6. Government Grant
Government grants are recognised in the profit and loss account in an appropriate manner that matches them with the expenditure towards which they are intended to contribute.
Grants for immediate financial support or to cover costs already incurred are recognised immediately in the profit and loss account. Grants towards general activities of the entity over a specific period are recognised in the profit and loss account over that period.
All grants in the profit and loss account are recognised when all conditions for receipt have been complied with.
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3. Average Number of Employees
Average number of employees, including directors, during the year was: 28 (2023: 29)
28 29
4. Tangible Assets
Total
£
Cost
As at 1 March 2023 73,601
Additions 2,670
As at 29 February 2024 76,271
Depreciation
As at 1 March 2023 46,662
Provided during the period 14,324
As at 29 February 2024 60,986
Net Book Value
As at 29 February 2024 15,285
As at 1 March 2023 26,939
5. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 3 3
Page 4