Acorah Software Products - Accounts Production 16.0.110 false true 28 February 2023 1 March 2022 false 1 March 2023 28 February 2024 28 February 2024 SC167731 Mr G J D A Riemersma Ms E L Thomas iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure SC167731 2023-02-28 SC167731 2024-02-28 SC167731 2023-03-01 2024-02-28 SC167731 frs-core:CurrentFinancialInstruments 2024-02-28 SC167731 frs-core:Non-currentFinancialInstruments 2024-02-28 SC167731 frs-core:LandBuildings frs-core:OwnedOrFreeholdAssets 2024-02-28 SC167731 frs-core:LandBuildings frs-core:OwnedOrFreeholdAssets 2023-03-01 2024-02-28 SC167731 frs-core:LandBuildings frs-core:OwnedOrFreeholdAssets 2023-02-28 SC167731 frs-core:MotorVehicles 2024-02-28 SC167731 frs-core:MotorVehicles 2023-03-01 2024-02-28 SC167731 frs-core:MotorVehicles 2023-02-28 SC167731 frs-core:PlantMachinery 2024-02-28 SC167731 frs-core:PlantMachinery 2023-03-01 2024-02-28 SC167731 frs-core:PlantMachinery 2023-02-28 SC167731 frs-core:ShareCapital 2024-02-28 SC167731 frs-core:RetainedEarningsAccumulatedLosses 2024-02-28 SC167731 frs-bus:PrivateLimitedCompanyLtd 2023-03-01 2024-02-28 SC167731 frs-bus:FilletedAccounts 2023-03-01 2024-02-28 SC167731 frs-bus:SmallEntities 2023-03-01 2024-02-28 SC167731 frs-bus:AuditExempt-NoAccountantsReport 2023-03-01 2024-02-28 SC167731 frs-bus:SmallCompaniesRegimeForAccounts 2023-03-01 2024-02-28 SC167731 frs-core:UnlistedNon-exchangeTraded 2024-02-28 SC167731 frs-core:UnlistedNon-exchangeTraded 2023-02-28 SC167731 frs-core:CostValuation frs-core:UnlistedNon-exchangeTraded 2023-02-28 SC167731 frs-core:CostValuation frs-core:UnlistedNon-exchangeTraded 2024-02-28 SC167731 frs-core:ProvisionsForImpairmentInvestments frs-core:UnlistedNon-exchangeTraded 2023-02-28 SC167731 frs-core:ProvisionsForImpairmentInvestments frs-core:UnlistedNon-exchangeTraded 2024-02-28 SC167731 frs-bus:Director1 2023-03-01 2024-02-28 SC167731 frs-bus:Director2 2023-03-01 2024-02-28 SC167731 frs-countries:Scotland 2023-03-01 2024-02-28 SC167731 2022-02-28 SC167731 2023-02-28 SC167731 2022-03-01 2023-02-28 SC167731 frs-core:CurrentFinancialInstruments 2023-02-28 SC167731 frs-core:Non-currentFinancialInstruments 2023-02-28 SC167731 frs-core:ShareCapital 2023-02-28 SC167731 frs-core:RetainedEarningsAccumulatedLosses 2023-02-28
Registered number: SC167731
Mapix Technologies Ltd.
Unaudited Financial Statements
For The Year Ended 28 February 2024
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: SC167731
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 287,065 290,132
Investments 5 16,753 16,753
303,818 306,885
CURRENT ASSETS
Stocks 6 184,111 181,815
Debtors 7 89,362 98,874
Cash at bank and in hand 850 22,932
274,323 303,621
Creditors: Amounts Falling Due Within One Year 8 (335,433 ) (237,330 )
NET CURRENT ASSETS (LIABILITIES) (61,110 ) 66,291
TOTAL ASSETS LESS CURRENT LIABILITIES 242,708 373,176
Creditors: Amounts Falling Due After More Than One Year 9 (150,477 ) (176,147 )
NET ASSETS 92,231 197,029
CAPITAL AND RESERVES
Called up share capital 10 100 100
Profit and Loss Account 92,131 196,929
SHAREHOLDERS' FUNDS 92,231 197,029
Page 1
Page 2
For the year ending 28 February 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 G J D A Riemersma
Director
17/11/2024
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
Mapix Technologies Ltd. is a private company, limited by shares, incorporated in Scotland, registered number SC167731 . The registered office is 17b Graham Street, Edinburgh, EH6 5QN.
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 Nil
Plant & Machinery 15% reducing balance
Motor Vehicles 25% reducing balance
2.4. 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.
2.5. 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.
2.6. 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.
...CONTINUED
Page 3
Page 4
2.6. 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 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.
2.7. Government Grant
Government grants are recognised in the profit and loss account in an appropriate manner that matches them with the expenditure towards which they are intended to contribute.
Grants for immediate financial support or to cover costs already incurred are recognised immediately in the profit and loss account. Grants towards general activities of the entity over a specific period are recognised in the profit and loss account over that period.
Grants towards fixed assets are recognised over the expected useful lives of the related assets and are treated as deferred income and released to the profit and loss account over the useful life of the asset concerned.
All grants in the profit and loss account are recognised when all conditions for receipt have been complied with.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 4 (2023: 5)
4 5
4. Tangible Assets
Land & Property
Freehold Plant & Machinery Motor Vehicles Total
£ £ £ £
Cost
As at 1 March 2023 269,686 74,363 19,740 363,789
As at 28 February 2024 269,686 74,363 19,740 363,789
Depreciation
As at 1 March 2023 - 56,431 17,226 73,657
Provided during the period - 2,690 377 3,067
As at 28 February 2024 - 59,121 17,603 76,724
Net Book Value
As at 28 February 2024 269,686 15,242 2,137 287,065
As at 1 March 2023 269,686 17,932 2,514 290,132
Page 4
Page 5
5. Investments
Unlisted
£
Cost
As at 1 March 2023 16,753
As at 28 February 2024 16,753
Provision
As at 1 March 2023 -
As at 28 February 2024 -
Net Book Value
As at 28 February 2024 16,753
As at 1 March 2023 16,753
6. Stocks
2024 2023
£ £
Stock 184,111 181,815
7. Debtors
2024 2023
£ £
Due within one year
Trade debtors 12,594 338
Other debtors 76,768 98,536
89,362 98,874
8. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 9,317 15,814
Bank loans and overdrafts 87,864 35,365
Other creditors 233,554 180,942
Taxation and social security 4,698 5,209
335,433 237,330
9. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Bank loans 150,477 176,147
10. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 100 100
Page 5