Acorah Software Products - Accounts Production 15.0.600 false true true 31 January 2023 1 February 2022 false 1 February 2023 31 January 2024 31 January 2024 SC649453 Mrs Nicoleta Cozma Mr Alan Berwick true iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure SC649453 2023-01-31 SC649453 2024-01-31 SC649453 2023-02-01 2024-01-31 SC649453 frs-core:CurrentFinancialInstruments 2024-01-31 SC649453 frs-core:Non-currentFinancialInstruments 2024-01-31 SC649453 frs-core:ComputerEquipment 2023-02-01 2024-01-31 SC649453 frs-core:DevelopmentCostsCapitalisedDevelopmentExpenditure 2023-02-01 2024-01-31 SC649453 frs-core:FurnitureFittings 2024-01-31 SC649453 frs-core:FurnitureFittings 2023-02-01 2024-01-31 SC649453 frs-core:FurnitureFittings 2023-01-31 SC649453 frs-core:NetGoodwill 2024-01-31 SC649453 frs-core:NetGoodwill 2023-02-01 2024-01-31 SC649453 frs-core:NetGoodwill 2023-01-31 SC649453 frs-core:LandBuildings frs-core:OwnedOrFreeholdAssets 2024-01-31 SC649453 frs-core:LandBuildings frs-core:OwnedOrFreeholdAssets 2023-02-01 2024-01-31 SC649453 frs-core:LandBuildings frs-core:OwnedOrFreeholdAssets 2023-01-31 SC649453 frs-core:OtherResidualIntangibleAssets 2024-01-31 SC649453 frs-core:OtherResidualIntangibleAssets 2023-02-01 2024-01-31 SC649453 frs-core:OtherResidualIntangibleAssets 2023-01-31 SC649453 frs-core:PlantMachinery 2024-01-31 SC649453 frs-core:PlantMachinery 2023-02-01 2024-01-31 SC649453 frs-core:PlantMachinery 2023-01-31 SC649453 frs-core:ShareCapital 2024-01-31 SC649453 frs-core:RetainedEarningsAccumulatedLosses 2024-01-31 SC649453 frs-bus:PrivateLimitedCompanyLtd 2023-02-01 2024-01-31 SC649453 frs-bus:FilletedAccounts 2023-02-01 2024-01-31 SC649453 frs-bus:SmallEntities 2023-02-01 2024-01-31 SC649453 frs-bus:AuditExempt-NoAccountantsReport 2023-02-01 2024-01-31 SC649453 frs-bus:SmallCompaniesRegimeForAccounts 2023-02-01 2024-01-31 SC649453 1 2023-02-01 2024-01-31 SC649453 frs-bus:Director1 2023-02-01 2024-01-31 SC649453 frs-bus:Director1 2023-01-31 SC649453 frs-bus:Director1 2024-01-31 SC649453 frs-bus:Director2 2023-02-01 2024-01-31 SC649453 frs-bus:Director2 2023-01-31 SC649453 frs-bus:Director2 2024-01-31 SC649453 1 2023-02-01 2024-01-31 SC649453 frs-core:CurrentFinancialInstruments 1 2024-01-31 SC649453 frs-core:CurrentFinancialInstruments 2 2024-01-31 SC649453 frs-countries:Scotland 2023-02-01 2024-01-31 SC649453 2022-01-31 SC649453 2023-01-31 SC649453 2022-02-01 2023-01-31 SC649453 frs-core:CurrentFinancialInstruments 2023-01-31 SC649453 frs-core:Non-currentFinancialInstruments 2023-01-31 SC649453 frs-core:ShareCapital 2023-01-31 SC649453 frs-core:RetainedEarningsAccumulatedLosses 2023-01-31 SC649453 1 2022-02-01 2023-01-31 SC649453 frs-core:CurrentFinancialInstruments 1 2023-01-31 SC649453 frs-core:CurrentFinancialInstruments 2 2023-01-31
Registered number: SC649453
Nicsim Ltd
Financial Statements
For The Year Ended 31 January 2024
Gillespie's
Chartered Accountants
33 Leslie Street
Blairgowrie
Perthshire
PH10 6AW
Financial Statements
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—6
Page 1
Balance Sheet
Registered number: SC649453
2024 2023
Notes £ £ £ £
FIXED ASSETS
Intangible Assets 3 33,122 38,828
Tangible Assets 4 74,893 91,645
108,015 130,473
CURRENT ASSETS
Stocks 5 4,000 8,500
Debtors 6 75,771 9,672
Cash at bank and in hand 45,351 91,158
125,122 109,330
Creditors: Amounts Falling Due Within One Year 7 (224,903 ) (200,215 )
NET CURRENT ASSETS (LIABILITIES) (99,781 ) (90,885 )
TOTAL ASSETS LESS CURRENT LIABILITIES 8,234 39,588
Creditors: Amounts Falling Due After More Than One Year 8 (10,175 ) (20,638 )
PROVISIONS FOR LIABILITIES
Deferred Taxation (16,851 ) (17,229 )
NET (LIABILITIES)/ASSETS (18,792 ) 1,721
CAPITAL AND RESERVES
Called up share capital 9 100 100
Profit and Loss Account (18,892 ) 1,621
SHAREHOLDERS' FUNDS (18,792) 1,721
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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
Mrs Nicoleta Cozma
Director
Mr Alan Berwick
Director
22nd October 2024
The notes on pages 3 to 6 form part of these financial statements.
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Notes to the Financial Statements
1. Accounting Policies
1.1. 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.
1.2. Going Concern Disclosure
The directors have not identified any material uncertainties related to events or conditions that may cast significant doubt about the company's ability to continue as a going concern. However, the company is being supported by directors Alan Berwick and Nicoleta Camelia Cozma.
1.3. 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 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.
1.4. Intangible Fixed Assets and Amortisation - Goodwill
Goodwill is the difference between amounts paid on the acquisition of a business and the fair value of the separable net assets. It is amortised to profit and loss account over its estimated economic life of 10 years.
1.5. Intangible Fixed Assets and Amortisation - Other Intangible
Other intangible assets are website costs. They are amortised to profit and loss account over their estimated economic life of 5 years.
1.6. 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:
Freehold -
Computer Equipment 33% reducing balance
Fixtures & Fittings 25% reducing balance
Plant & Machinery 33% reducing balance
1.7. Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
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1.8. Taxation
Corporation 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.
2. Average Number of Employees
Average number of employees, including directors, during the year was as follows:
2024 2023
Office and administration 13 19
Directors 2 2
15 21
3. Intangible Assets
Goodwill Other Total
£ £ £
Cost
As at 1 February 2023 54,403 1,325 55,728
As at 31 January 2024 54,403 1,325 55,728
Amortisation
As at 1 February 2023 16,320 580 16,900
Provided during the period 5,441 265 5,706
As at 31 January 2024 21,761 845 22,606
Net Book Value
As at 31 January 2024 32,642 480 33,122
As at 1 February 2023 38,083 745 38,828
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4. Tangible Assets
Land & Property
Freehold Computer Equipment Fixtures & Fittings Total
£ £ £ £
Cost
As at 1 February 2023 1,300 916 163,065 165,281
Additions - - 9,555 9,555
Disposals (1,300 ) - - (1,300 )
As at 31 January 2024 - 916 172,620 173,536
Depreciation
As at 1 February 2023 - 505 73,131 73,636
Provided during the period - 135 24,872 25,007
As at 31 January 2024 - 640 98,003 98,643
Net Book Value
As at 31 January 2024 - 276 74,617 74,893
As at 1 February 2023 1,300 411 89,934 91,645
5. Stocks
2024 2023
£ £
Stock - materials and work in progress 4,000 8,500
6. Debtors
2024 2023
£ £
Due within one year
Prepayments and accrued income 163 9,672
Other debtors 75,608 -
75,771 9,672
7. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 811 2,099
Bank loans and overdrafts 25,000 -
Other taxes and social security 3,870 3,435
VAT 5,192 6,753
Inter company loan account 95,700 97,626
Customer deposits 21,152 19,812
Bounce Back Loan within one year 10,710 10,957
Accruals and deferred income 5,583 2,432
Directors' loan accounts 56,885 57,101
224,903 200,215
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8. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Bounce Back Loan 10,175 20,638
10,175 20,638
9. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 100 100
10. Directors Advances, Credits and Guarantees
Included within Creditors are the following loans from directors:
As at 1 February 2023 Amounts advanced Amounts repaid Amounts written off As at 31 January 2024
£ £ £ £ £
Mrs Nicoleta Cozma 28,184 - - - 28,184
Mr Alan Berwick 28,917 - 217 - 28,700
The above loans are unsecured, interest free and repayable on demand.
11. Related Party Transactions
Cozber LtdInter company transactionsIncluded within Debtors is an amount due from Cozber Ltd of £10,000 (£0 - 2023). Alan Berwick and Nicoleta Camelia Cozma are joint shareholders of Cozber Ltd and hold all of the share capital.

Cozber Ltd

Inter company transactions

Included within Debtors is an amount due from Cozber Ltd of £10,000 (£0 - 2023). Alan Berwick and Nicoleta Camelia Cozma are joint shareholders of Cozber Ltd and hold all of the share capital.

Cozber Holdings LimitedInter company transactionsIncluded within Debtors is an amount due from Cozber Holdings Limited of £65,608 (£0 - 2023). Alan Berwick and Nicoleta Camelia Cozma are joint shareholders of Cozber Holdings Limited and hold all of the share capital.

Cozber Holdings Limited

Inter company transactions

Included within Debtors is an amount due from Cozber Holdings Limited of £65,608 (£0 - 2023). Alan Berwick and Nicoleta Camelia Cozma are joint shareholders of Cozber Holdings Limited and hold all of the share capital.

Bercoz Properties Ltd.Inter company transactionsIncluded within Creditors is an amount due to Bercoz Properties Ltd. of £95,700 (£97,626 - 2023). Alan Berwick and Nicoleta Camelia Cozma are joint shareholders of Bercoz Properties Ltd. and hold all of the share capital.

Bercoz Properties Ltd.

Inter company transactions

Included within Creditors is an amount due to Bercoz Properties Ltd. of £95,700 (£97,626 - 2023). Alan Berwick and Nicoleta Camelia Cozma are joint shareholders of Bercoz Properties Ltd. and hold all of the share capital.

12. Ultimate Controlling Party
The company's ultimate controlling parties are Alan Berwick and Nicoleta Camelia Cozma by virtue of their joint ownership of 100% of the issued share capital in the company.
13. General Information
Nicsim Ltd is a private company, limited by shares, incorporated in Scotland, registered number SC649453 . The registered office is 62D Carnegie Place, Perth, PH1 5ED.
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