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DIRECT SOFTWARE LIMITED

Registered Number
SC586179
(Scotland)

Unaudited Financial Statements for the Year ended
31 January 2024

DIRECT SOFTWARE LIMITED
Company Information
for the year from 1 February 2023 to 31 January 2024

Directors

K P A, BAKER
R D P, BAKER

Company Secretary

D A Dr, SIVES

Registered Address

53 Bothwell Street
Glasgow
G2 6TS

Registered Number

SC586179 (Scotland)
DIRECT SOFTWARE LIMITED
Balance Sheet as at
31 January 2024

Notes

2024

2023

£

£

£

£

Fixed assets
Tangible assets33,3744,335
3,3744,335
Current assets
Debtors440,46710,371
Cash at bank and on hand403,936127,604
444,403137,975
Creditors amounts falling due within one year5(163,912)(126,705)
Net current assets (liabilities)280,49111,270
Total assets less current liabilities283,86515,605
Creditors amounts falling due after one year6(420,012)(30,930)
Accruals and deferred income(12,433)(14,290)
Net assets(148,580)(29,615)
Capital and reserves
Called up share capital204179
Share premium9,4189,418
Other reserves5,163-
Profit and loss account(163,365)(39,212)
Shareholders' funds(148,580)(29,615)
The financial statements were approved and authorised for issue by the Board of Directors on 15 October 2024, and are signed on its behalf by:
R D P, BAKER
Director
Registered Company No. SC586179
DIRECT SOFTWARE LIMITED
Notes to the Financial Statements
for the year ended 31 January 2024

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in Scotland. The company's registered number and registered office address can be found on the Company Information page.
Statement of compliance
The financial statements have been prepared in compliance with FRS 102 Section 1A as it applies to the financial statements for the period and there were no material departures from the reporting standard.
Revenue from sale of goods
Revenue is recognised to the extent that it is probable that the economic benefits will flow to the company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.
Employee benefits
Contributions to defined contribution plans are expensed in the period to which they relate.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
Tangible fixed assets and depreciation
Tangible fixed assets are stated at cost or valuation less depreciation. Depreciation is provided on all tangible fixed assets as follows:
Investments
Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value where the difference between cost and fair value is material. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the profit and loss account.
2.Average number of employees

20242023
Average number of employees during the year55
3.Tangible fixed assets

Office Equipment

Total

££
Cost or valuation
At 01 February 2311,37611,376
Additions3,3193,319
At 31 January 2414,69514,695
Depreciation and impairment
At 01 February 237,0417,041
Charge for year4,2804,280
At 31 January 2411,32111,321
Net book value
At 31 January 243,3743,374
At 31 January 234,3354,335
4.Debtors: amounts due within one year

2024

2023

££
Trade debtors / trade receivables7858,117
Amounts owed by group undertakings12,009-
Other debtors1,19873
Prepayments and accrued income26,4752,181
Total40,46710,371
5.Creditors: amounts due within one year

2024

2023

££
Trade creditors / trade payables8,206-
Bank borrowings and overdrafts9,4949,330
Amounts owed to related parties26,97326,907
Taxation and social security4,9407,379
Other creditors25,47918,390
Accrued liabilities and deferred income88,82064,699
Total163,912126,705
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
6.Creditors: amounts due after one year

2024

2023

££
Bank borrowings and overdrafts21,42630,930
Convertible loans398,586-
Total420,01230,930