Acorah Software Products - Accounts Production 16.0.110 false true 31 March 2023 1 April 2022 false 1 April 2023 31 March 2024 31 March 2024 SC310932 Mr Momin Rabbani iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure SC310932 2023-03-31 SC310932 2024-03-31 SC310932 2023-04-01 2024-03-31 SC310932 frs-core:CurrentFinancialInstruments 2024-03-31 SC310932 frs-core:FurnitureFittings 2024-03-31 SC310932 frs-core:FurnitureFittings 2023-04-01 2024-03-31 SC310932 frs-core:FurnitureFittings 2023-03-31 SC310932 frs-core:LandBuildings frs-core:OwnedOrFreeholdAssets 2024-03-31 SC310932 frs-core:LandBuildings frs-core:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 SC310932 frs-core:LandBuildings frs-core:OwnedOrFreeholdAssets 2023-03-31 SC310932 frs-core:ShareCapital 2024-03-31 SC310932 frs-core:RetainedEarningsAccumulatedLosses 2024-03-31 SC310932 frs-bus:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 SC310932 frs-bus:FilletedAccounts 2023-04-01 2024-03-31 SC310932 frs-bus:SmallEntities 2023-04-01 2024-03-31 SC310932 frs-bus:AuditExempt-NoAccountantsReport 2023-04-01 2024-03-31 SC310932 frs-bus:SmallCompaniesRegimeForAccounts 2023-04-01 2024-03-31 SC310932 frs-bus:Director1 2023-04-01 2024-03-31 SC310932 frs-countries:Scotland 2023-04-01 2024-03-31 SC310932 2022-03-31 SC310932 2023-03-31 SC310932 2022-04-01 2023-03-31 SC310932 frs-core:CurrentFinancialInstruments 2023-03-31 SC310932 frs-core:ShareCapital 2023-03-31 SC310932 frs-core:RetainedEarningsAccumulatedLosses 2023-03-31
Registered number: SC310932
M.R. INVESTMENT CORPORATION LTD.
Unaudited Financial Statements
For The Year Ended 31 March 2024
M Accountancy
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—4
Page 1
Balance Sheet
Registered number: SC310932
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 255,490 256,717
255,490 256,717
CURRENT ASSETS
Cash at bank and in hand 10,731 14,110
10,731 14,110
Creditors: Amounts Falling Due Within One Year 5 (339,890 ) (346,798 )
NET CURRENT ASSETS (LIABILITIES) (329,159 ) (332,688 )
TOTAL ASSETS LESS CURRENT LIABILITIES (73,669 ) (75,971 )
NET LIABILITIES (73,669 ) (75,971 )
CAPITAL AND RESERVES
Called up share capital 6 2 2
Profit and Loss Account (73,671 ) (75,973 )
SHAREHOLDERS' FUNDS (73,669) (75,971)
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 member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his 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 Momin Rabbani
Director
10/06/2024
The notes on pages 3 to 4 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
M.R. INVESTMENT CORPORATION LTD. is a private company, limited by shares, incorporated in Scotland, registered number SC310932 . The registered office is 181 Titwood Road, Glasgow, G41 4BL.
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:
Freehold 250582.00
Fixtures & Fittings 20 % reduce balance
3. Average Number of Employees
Average number of employees, including directors, during the year was: 1 (2023: 1)
1 1
4. Tangible Assets
Land & Property
Freehold Fixtures & Fittings Total
£ £ £
Cost
As at 1 April 2023 250,582 39,099 289,681
As at 31 March 2024 250,582 39,099 289,681
Depreciation
As at 1 April 2023 - 32,964 32,964
Provided during the period - 1,227 1,227
As at 31 March 2024 - 34,191 34,191
Net Book Value
As at 31 March 2024 250,582 4,908 255,490
As at 1 April 2023 250,582 6,135 256,717
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5. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Bank loans and overdrafts 18,526 26,512
Other creditors 319,732 318,661
Taxation and social security 1,632 1,625
339,890 346,798
6. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 2 2
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