Acorah Software Products - Accounts Production 15.0.600 false true 31 January 2023 1 February 2022 false 1 February 2023 31 January 2024 31 January 2024 SC368185 Mr Scott Donaldson Mr Graeme Duncan Mr Martin Mccarthy iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure SC368185 2023-01-31 SC368185 2024-01-31 SC368185 2023-02-01 2024-01-31 SC368185 frs-core:CurrentFinancialInstruments 2024-01-31 SC368185 frs-core:Non-currentFinancialInstruments 2024-01-31 SC368185 frs-core:ComputerEquipment 2024-01-31 SC368185 frs-core:ComputerEquipment 2023-02-01 2024-01-31 SC368185 frs-core:ComputerEquipment 2023-01-31 SC368185 frs-core:FurnitureFittings 2024-01-31 SC368185 frs-core:FurnitureFittings 2023-02-01 2024-01-31 SC368185 frs-core:FurnitureFittings 2023-01-31 SC368185 frs-core:MotorVehicles 2024-01-31 SC368185 frs-core:MotorVehicles 2023-02-01 2024-01-31 SC368185 frs-core:MotorVehicles 2023-01-31 SC368185 frs-core:PlantMachinery 2024-01-31 SC368185 frs-core:PlantMachinery 2023-02-01 2024-01-31 SC368185 frs-core:PlantMachinery 2023-01-31 SC368185 frs-core:ShareCapital 2024-01-31 SC368185 frs-core:RetainedEarningsAccumulatedLosses 2024-01-31 SC368185 frs-bus:PrivateLimitedCompanyLtd 2023-02-01 2024-01-31 SC368185 frs-bus:FilletedAccounts 2023-02-01 2024-01-31 SC368185 frs-bus:SmallEntities 2023-02-01 2024-01-31 SC368185 frs-bus:AuditExempt-NoAccountantsReport 2023-02-01 2024-01-31 SC368185 frs-bus:SmallCompaniesRegimeForAccounts 2023-02-01 2024-01-31 SC368185 frs-bus:Director1 2023-02-01 2024-01-31 SC368185 frs-bus:Director2 2023-02-01 2024-01-31 SC368185 frs-bus:Director3 2023-02-01 2024-01-31 SC368185 frs-countries:Scotland 2023-02-01 2024-01-31 SC368185 2022-01-31 SC368185 2023-01-31 SC368185 2022-02-01 2023-01-31 SC368185 frs-core:CurrentFinancialInstruments 2023-01-31 SC368185 frs-core:Non-currentFinancialInstruments 2023-01-31 SC368185 frs-core:BetweenOneFiveYears 2023-01-31 SC368185 frs-core:ShareCapital 2023-01-31 SC368185 frs-core:RetainedEarningsAccumulatedLosses 2023-01-31
Registered number: SC368185
ITCC Limited
Unaudited Financial Statements
For The Year Ended 31 January 2024
Almond Valley Accounting Limited
CIMA
C/O Av Accounting, Suite 14 Ellismuir House
Ellismuir Way
Tannochside
G71 5PW
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: SC368185
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 117,763 205,965
117,763 205,965
CURRENT ASSETS
Debtors 5 152,912 166,475
Cash at bank and in hand 13,001 23,813
165,913 190,288
Creditors: Amounts Falling Due Within One Year 6 (254,415 ) (289,613 )
NET CURRENT ASSETS (LIABILITIES) (88,502 ) (99,325 )
TOTAL ASSETS LESS CURRENT LIABILITIES 29,261 106,640
Creditors: Amounts Falling Due After More Than One Year 7 (25,624 ) (72,519 )
NET ASSETS 3,637 34,121
CAPITAL AND RESERVES
Called up share capital 9 100 100
Profit and Loss Account 3,537 34,021
SHAREHOLDERS' FUNDS 3,637 34,121
Page 1
Page 2
For the year ending 31 January 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.
On behalf of the board
Mr Graeme Duncan
Director
15/10/2024
The notes on pages 3 to 5 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
ITCC Limited is a private company, limited by shares, incorporated in Scotland, registered number SC368185 . The registered office is Suite 1, International Base Greenwell Road, East Tullos Industrial Estate, Aberdeen, AB12 3AX.
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 20% reducing balance
Motor Vehicles 20% reducing balance
Fixtures & Fittings 20% reducing balance
Computer Equipment 20% reducing balance
2.4. Leasing and Hire Purchase Contracts
Assets obtained under finance leases are capitalised as tangible fixed assets. Assets acquired under finance leases are depreciated over the shorter of the lease term and their useful lives. Assets acquired under hire purchase contracts are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in the creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.

Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to profit and loss account as incurred.
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.
...CONTINUED
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Page 4
2.5. Taxation - continued
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.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 15 (2023: 21)
15 21
4. Tangible Assets
Plant & Machinery Motor Vehicles Fixtures & Fittings Computer Equipment Total
£ £ £ £ £
Cost
As at 1 February 2023 189,185 185,825 5,938 13,434 394,382
Disposals - (105,260 ) - - (105,260 )
As at 31 January 2024 189,185 80,565 5,938 13,434 289,122
Depreciation
As at 1 February 2023 86,712 92,980 660 8,065 188,417
Provided during the period 20,084 14,330 1,056 1,286 36,756
Disposals - (53,814 ) - - (53,814 )
As at 31 January 2024 106,796 53,496 1,716 9,351 171,359
Net Book Value
As at 31 January 2024 82,389 27,069 4,222 4,083 117,763
As at 1 February 2023 102,473 92,845 5,278 5,369 205,965
5. Debtors
2024 2023
£ £
Due within one year
Trade debtors 64,231 162,067
Other debtors 47,670 1,670
Net wages - 2,738
Directors' loan accounts 41,011 -
152,912 166,475
Page 4
Page 5
6. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 136,799 133,424
Bank loans and overdrafts 10,812 -
Other taxes and social security 22,574 29,724
VAT 59,806 100,852
Other creditors (58 ) -
Directors' loan accounts 24,482 25,613
254,415 289,613
7. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Net obligations under finance lease and hire purchase contracts - 25,270
Bank loans 13,624 35,249
Directors loan account 12,000 12,000
25,624 72,519
8. Obligations Under Finance Leases and Hire Purchase
2024 2023
£ £
The future minimum finance lease payments are as follows:
Later than one year and not later than five years - 25,270
9. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 100 100
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