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 08834218 Ms Jacqueline Gregory Mr Marco Puccioni true iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 08834218 2023-01-31 08834218 2024-01-31 08834218 2023-02-01 2024-01-31 08834218 frs-core:CurrentFinancialInstruments 2024-01-31 08834218 frs-core:PlantMachinery 2024-01-31 08834218 frs-core:PlantMachinery 2023-02-01 2024-01-31 08834218 frs-core:PlantMachinery 2023-01-31 08834218 frs-core:ShareCapital 2024-01-31 08834218 frs-core:RetainedEarningsAccumulatedLosses 2024-01-31 08834218 frs-bus:PrivateLimitedCompanyLtd 2023-02-01 2024-01-31 08834218 frs-bus:FilletedAccounts 2023-02-01 2024-01-31 08834218 frs-bus:SmallEntities 2023-02-01 2024-01-31 08834218 frs-bus:AuditExempt-NoAccountantsReport 2023-02-01 2024-01-31 08834218 frs-bus:SmallCompaniesRegimeForAccounts 2023-02-01 2024-01-31 08834218 1 2023-02-01 2024-01-31 08834218 frs-bus:Director1 2023-02-01 2024-01-31 08834218 frs-bus:CompanySecretary1 2023-02-01 2024-01-31 08834218 frs-core:CurrentFinancialInstruments 1 2024-01-31 08834218 frs-core:CurrentFinancialInstruments 2 2024-01-31 08834218 frs-countries:EnglandWales 2023-02-01 2024-01-31 08834218 2022-01-31 08834218 2023-01-31 08834218 2022-02-01 2023-01-31 08834218 frs-core:CurrentFinancialInstruments 2023-01-31 08834218 frs-core:ShareCapital 2023-01-31 08834218 frs-core:RetainedEarningsAccumulatedLosses 2023-01-31 08834218 frs-core:CurrentFinancialInstruments 1 2023-01-31 08834218 frs-core:CurrentFinancialInstruments 2 2023-01-31
Registered number: 08834218
Macline Ltd
Unaudited Financial Statements
For The Year Ended 31 January 2024
Adbell Advisory Limited
Contents
Page
Balance Sheet 1
Notes to the Financial Statements 2—4
Page 1
Balance Sheet
Registered number: 08834218
2024 2023
Notes £ £ £ £
FIXED ASSETS
CURRENT ASSETS
Debtors 5 3,965 1,497
Cash at bank and in hand 22,459 25,289
26,424 26,786
Creditors: Amounts Falling Due Within One Year 6 (14,273 ) (11,775 )
NET CURRENT ASSETS (LIABILITIES) 12,151 15,011
TOTAL ASSETS LESS CURRENT LIABILITIES 12,151 15,011
NET ASSETS 12,151 15,011
CAPITAL AND RESERVES
Called up share capital 7 100 100
Profit and Loss Account 12,051 14,911
SHAREHOLDERS' FUNDS 12,151 15,011
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 member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges her 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
Ms Jacqueline Gregory
Director
29/10/2024
The notes on pages 2 to 4 form part of these financial statements.
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Page 2
Notes to the Financial Statements
1. General Information
Macline Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 08834218 . The registered office is Birchin Court, 20 Birchin Lane, EC3V 9DJ.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.
The company's functional currency is € Euro and the presentation currency is £ sterling. Sterling has been used as the presentation currency as the company is domiciled in England and Wales.
2.2. Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.
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%
2.4. Leasing and Hire Purchase Contracts
Rentals payable under operating leases, including any lease incentives received, are charged to income on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the lease asset are consumed.
2.5. Financial Instruments
The company has elected to apply the provisions of Section 11 'Basic Financial Instruments' and Section 12 'Other Financial Instruments Issues' of FRS 102 to all of its financial instruments.
Financial instruments are recognised in the company's statement of financial position when the company becomes party to the contractual provisions of the instrument.
Financial assets and liabilities are offset , with the net amounts presented in the financial statements , when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.
Basic financial assets
Basic financial assets, which include trade and other receivables and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.
Classification of financial liabilities
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.
Basic financial liabilities, including trade and other payables, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest.
Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.
Trade payables are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade payables are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.
Equity instruments
Equity instruments issued by the company are recorded at the proceeds received, net of direct issue costs.
Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.
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Page 3
2.6. Foreign Currencies
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 of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.
2.7. Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.
Current or deferred taxation assets and liabilities are not discounted.
Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.
Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.
Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.
2.8. Cash and cash equivalents
Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 1 (2023: NIL)
1 -
4. Tangible Assets
Plant & Machinery
£
Cost
As at 1 February 2023 4,862
As at 31 January 2024 4,862
Depreciation
As at 1 February 2023 4,862
As at 31 January 2024 4,862
Net Book Value
As at 31 January 2024 -
As at 1 February 2023 -
5. Debtors
2024 2023
£ £
Due within one year
Prepayments and accrued income 2,467 -
Other debtors 826 825
Tax 624 624
Amount owed to Modo Life 48 48
3,965 1,497
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Page 4
6. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 3,702 -
Bank loans and overdrafts - 5
Corporation tax 230 1,429
Accruals and deferred income 840 840
Director's loan account 9,501 9,501
14,273 11,775
7. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 100 100
Allotted, issued and fully paid 100 ordinary shares in £1 nominal value each.
8. Ultimate Controlling Party
The controlly parties are Ms Jacqueline Anne Gregory and Mr Marco Puccioni.
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