Acorah Software Products - Accounts Production 15.0.600 false true true 28 February 2023 1 March 2022 false 1 March 2023 28 February 2024 28 February 2024 SC373787 Andrew Johnson Ingela Therese Jarn iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure SC373787 2023-02-28 SC373787 2024-02-28 SC373787 2023-03-01 2024-02-28 SC373787 frs-core:CurrentFinancialInstruments 2024-02-28 SC373787 frs-core:ComputerEquipment 2024-02-28 SC373787 frs-core:ComputerEquipment 2023-03-01 2024-02-28 SC373787 frs-core:ComputerEquipment 2023-02-28 SC373787 frs-core:PlantMachinery 2024-02-28 SC373787 frs-core:PlantMachinery 2023-03-01 2024-02-28 SC373787 frs-core:PlantMachinery 2023-02-28 SC373787 frs-core:ShareCapital 2024-02-28 SC373787 frs-core:RetainedEarningsAccumulatedLosses 2024-02-28 SC373787 frs-bus:PrivateLimitedCompanyLtd 2023-03-01 2024-02-28 SC373787 frs-bus:FilletedAccounts 2023-03-01 2024-02-28 SC373787 frs-bus:SmallEntities 2023-03-01 2024-02-28 SC373787 frs-bus:AuditExempt-NoAccountantsReport 2023-03-01 2024-02-28 SC373787 frs-bus:SmallCompaniesRegimeForAccounts 2023-03-01 2024-02-28 SC373787 frs-bus:Director1 2023-03-01 2024-02-28 SC373787 frs-bus:Director1 2023-02-28 SC373787 frs-bus:Director1 2024-02-28 SC373787 frs-bus:Director2 2023-03-01 2024-02-28 SC373787 frs-countries:Scotland 2023-03-01 2024-02-28 SC373787 2022-02-28 SC373787 2023-02-28 SC373787 2022-03-01 2023-02-28 SC373787 frs-core:CurrentFinancialInstruments 2023-02-28 SC373787 frs-core:ShareCapital 2023-02-28 SC373787 frs-core:RetainedEarningsAccumulatedLosses 2023-02-28
Registered number: SC373787
Universal Relaxation Ltd.
Unaudited Financial Statements
For The Year Ended 28 February 2024
Prime Numbers
Chartered Accountants
1 Lochrin Square
92 Fountainbridge
Edinburgh
EH3 9QA
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—4
Page 1
Balance Sheet
Registered number: SC373787
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 - 2,263
- 2,263
CURRENT ASSETS
Debtors 5 467 1,079
Cash at bank and in hand 573 1,343
1,040 2,422
Creditors: Amounts Falling Due Within One Year 6 (4,785 ) (4,152 )
NET CURRENT ASSETS (LIABILITIES) (3,745 ) (1,730 )
TOTAL ASSETS LESS CURRENT LIABILITIES (3,745 ) 533
PROVISIONS FOR LIABILITIES
Deferred Taxation (430 ) (430 )
NET (LIABILITIES)/ASSETS (4,175 ) 103
CAPITAL AND RESERVES
Called up share capital 7 100 100
Profit and Loss Account (4,275 ) 3
SHAREHOLDERS' FUNDS (4,175) 103
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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
Andrew Johnson
Director
24/11/2024
The notes on pages 3 to 4 form part of these financial statements.
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Page 3
Notes to the Financial Statements
1. General Information
Universal Relaxation Ltd. is a private company, limited by shares, incorporated in Scotland, registered number SC373787 . The registered office is 5 South Charlotte Street, Edinburgh, EH2 4AN.
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. Going Concern Disclosure
The company has net liabilities at the year end, however, the directors continue to believe that the going concern basis remains appropriate because of the ongoing financial support of the shareholder.
2.3. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts . Turnover includes revenue earned from the the rendering of digital services. Turnover is reduced for estimated rebates and other similar allowances.
2.4. 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 3 years straight line
Computer Equipment 20% Reducing Balance Method
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 year 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 asset reflects 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.
3. Average Number of Employees
Average number of employees, including directors, during the year was: NIL (2023: NIL)
- -
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4. Tangible Assets
Plant & Machinery Computer Equipment Total
£ £ £
Cost
As at 1 March 2023 12,095 8,638 20,733
As at 28 February 2024 12,095 8,638 20,733
Depreciation
As at 1 March 2023 12,095 6,375 18,470
Provided during the period - 2,263 2,263
As at 28 February 2024 12,095 8,638 20,733
Net Book Value
As at 28 February 2024 - - -
As at 1 March 2023 - 2,263 2,263
5. Debtors
2024 2023
£ £
Due within one year
Corporation tax recoverable assets 467 -
Directors' loan accounts - 1,079
467 1,079
6. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Corporation tax - 4,152
Directors' loan accounts 4,785 -
4,785 4,152
7. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 100 100
8. Directors Advances, Credits and Guarantees
Included within Debtors are the following loans to directors:
As at 1 March 2023 Amounts advanced Amounts repaid Amounts written off As at 28 February 2024
£ £ £ £ £
Mr Andrew Johnson 1,079 - (1,079 ) - -
The above loan is unsecured, interest free and repayable on demand.
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