Acorah Software Products - Accounts Production 15.0.600 false true 31 March 2023 1 April 2022 false 1 April 2023 31 March 2024 31 March 2024 SC430741 Mr Colin Munro Ms Leigh Brown Mr Ruairidh Anthony Hamilton Fasson Mr Alasdair McGill Mr David O'Neil iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure SC430741 2023-03-31 SC430741 2024-03-31 SC430741 2023-04-01 2024-03-31 SC430741 frs-core:CurrentFinancialInstruments 2024-03-31 SC430741 frs-core:Non-currentFinancialInstruments 2024-03-31 SC430741 frs-core:ComputerEquipment 2024-03-31 SC430741 frs-core:ComputerEquipment 2023-04-01 2024-03-31 SC430741 frs-core:ComputerEquipment 2023-03-31 SC430741 frs-core:FurnitureFittings 2024-03-31 SC430741 frs-core:FurnitureFittings 2023-04-01 2024-03-31 SC430741 frs-core:FurnitureFittings 2023-03-31 SC430741 frs-core:NetGoodwill 2024-03-31 SC430741 frs-core:NetGoodwill 2023-04-01 2024-03-31 SC430741 frs-core:NetGoodwill 2023-03-31 SC430741 frs-core:MotorVehicles 2024-03-31 SC430741 frs-core:MotorVehicles 2023-04-01 2024-03-31 SC430741 frs-core:MotorVehicles 2023-03-31 SC430741 frs-core:OtherResidualIntangibleAssets 2024-03-31 SC430741 frs-core:OtherResidualIntangibleAssets 2023-04-01 2024-03-31 SC430741 frs-core:OtherResidualIntangibleAssets 2023-03-31 SC430741 frs-core:SharePremium 2024-03-31 SC430741 frs-core:ShareCapital 2024-03-31 SC430741 frs-core:RetainedEarningsAccumulatedLosses 2024-03-31 SC430741 frs-bus:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 SC430741 frs-bus:FilletedAccounts 2023-04-01 2024-03-31 SC430741 frs-bus:SmallEntities 2023-04-01 2024-03-31 SC430741 frs-bus:AuditExempt-NoAccountantsReport 2023-04-01 2024-03-31 SC430741 frs-bus:SmallCompaniesRegimeForAccounts 2023-04-01 2024-03-31 SC430741 frs-core:UnlistedNon-exchangeTraded 2024-03-31 SC430741 frs-core:UnlistedNon-exchangeTraded 2023-03-31 SC430741 frs-core:CostValuation frs-core:UnlistedNon-exchangeTraded 2023-03-31 SC430741 frs-core:CostValuation frs-core:UnlistedNon-exchangeTraded 2024-03-31 SC430741 frs-core:ProvisionsForImpairmentInvestments frs-core:UnlistedNon-exchangeTraded 2023-03-31 SC430741 frs-core:ProvisionsForImpairmentInvestments frs-core:UnlistedNon-exchangeTraded 2024-03-31 SC430741 frs-bus:Director1 2023-04-01 2024-03-31 SC430741 frs-bus:Director2 2023-04-01 2024-03-31 SC430741 frs-bus:Director3 2023-04-01 2024-03-31 SC430741 frs-bus:Director4 2023-04-01 2024-03-31 SC430741 frs-bus:Director5 2023-04-01 2024-03-31 SC430741 frs-countries:Scotland 2023-04-01 2024-03-31 SC430741 2022-03-31 SC430741 2023-03-31 SC430741 2022-04-01 2023-03-31 SC430741 frs-core:CurrentFinancialInstruments 2023-03-31 SC430741 frs-core:Non-currentFinancialInstruments 2023-03-31 SC430741 frs-core:SharePremium 2023-03-31 SC430741 frs-core:ShareCapital 2023-03-31 SC430741 frs-core:RetainedEarningsAccumulatedLosses 2023-03-31
Registered number: SC430741
Miconex Ltd.
Unaudited Financial Statements
For The Year Ended 31 March 2024
Ashton McGill
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: SC430741
2024 2023
Notes £ £ £ £
FIXED ASSETS
Intangible Assets 4 47,041 27,035
Tangible Assets 5 3,816 5,267
Investments 6 663 663
51,520 32,965
CURRENT ASSETS
Debtors 7 1,093,684 566,773
Cash at bank and in hand 954,765 39,698
2,048,449 606,471
Creditors: Amounts Falling Due Within One Year 8 (1,943,015 ) (477,530 )
NET CURRENT ASSETS (LIABILITIES) 105,434 128,941
TOTAL ASSETS LESS CURRENT LIABILITIES 156,954 161,906
Creditors: Amounts Falling Due After More Than One Year 9 (86,398 ) (113,675 )
NET ASSETS 70,556 48,231
CAPITAL AND RESERVES
Called up share capital 10 1,465 1,465
Share premium account 272,339 272,339
Profit and Loss Account (203,248 ) (225,573 )
SHAREHOLDERS' FUNDS 70,556 48,231
Page 1
Page 2
For the year ending 31 March 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 Colin Munro
Director
24/10/2024
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
Miconex Ltd. is a private company, limited by shares, incorporated in Scotland, registered number SC430741 . The registered office is 13 Rose Terrace, Perth, Scotland, PH1 5HA.
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:
Motor Vehicles 20% Straight Line
Fixtures & Fittings 20% Straight Line
Computer Equipment 20% Straight Line
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 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.
Page 3
Page 4
3. Average Number of Employees
Average number of employees, including directors, during the year was: 17 (2023: 14)
17 14
4. Intangible Assets
Goodwill Other Total
£ £ £
Cost
As at 1 April 2023 88,000 478,296 566,296
Additions - 57,720 57,720
As at 31 March 2024 88,000 536,016 624,016
Amortisation
As at 1 April 2023 88,000 451,261 539,261
Provided during the period - 37,714 37,714
As at 31 March 2024 88,000 488,975 576,975
Net Book Value
As at 31 March 2024 - 47,041 47,041
As at 1 April 2023 - 27,035 27,035
5. Tangible Assets
Motor Vehicles Fixtures & Fittings Computer Equipment Total
£ £ £ £
Cost
As at 1 April 2023 7,790 3,372 17,085 28,247
As at 31 March 2024 7,790 3,372 17,085 28,247
Depreciation
As at 1 April 2023 7,790 1,919 13,271 22,980
Provided during the period - 377 1,074 1,451
As at 31 March 2024 7,790 2,296 14,345 24,431
Net Book Value
As at 31 March 2024 - 1,076 2,740 3,816
As at 1 April 2023 - 1,453 3,814 5,267
6. Investments
Unlisted
£
Cost
As at 1 April 2023 663
As at 31 March 2024 663
Provision
As at 1 April 2023 -
As at 31 March 2024 -
...CONTINUED
Page 4
Page 5
Net Book Value
As at 31 March 2024 663
As at 1 April 2023 663
7. Debtors
2024 2023
£ £
Due within one year
Trade debtors 101,319 246,728
Other debtors 992,365 320,045
1,093,684 566,773
8. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 218,257 183,652
Other creditors 1,696,368 239,398
Taxation and social security 28,390 54,480
1,943,015 477,530
9. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Bank loans 86,398 113,675
10. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 1,465 1,465
Page 5