Acorah Software Products - Accounts Production 16.0.110 false true 28 February 2023 1 March 2022 false 1 March 2023 29 February 2024 29 February 2024 07943874 Mrs Claire Callanan Mr Ryan Callanan iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 07943874 2023-02-28 07943874 2024-02-29 07943874 2023-03-01 2024-02-29 07943874 frs-core:CurrentFinancialInstruments 2024-02-29 07943874 frs-core:Non-currentFinancialInstruments 2024-02-29 07943874 frs-core:ComputerEquipment 2024-02-29 07943874 frs-core:ComputerEquipment 2023-03-01 2024-02-29 07943874 frs-core:ComputerEquipment 2023-02-28 07943874 frs-core:FurnitureFittings 2024-02-29 07943874 frs-core:FurnitureFittings 2023-03-01 2024-02-29 07943874 frs-core:FurnitureFittings 2023-02-28 07943874 frs-core:MotorVehicles 2024-02-29 07943874 frs-core:MotorVehicles 2023-03-01 2024-02-29 07943874 frs-core:MotorVehicles 2023-02-28 07943874 frs-core:ShareCapital 2024-02-29 07943874 frs-core:RetainedEarningsAccumulatedLosses 2024-02-29 07943874 frs-bus:PrivateLimitedCompanyLtd 2023-03-01 2024-02-29 07943874 frs-bus:FilletedAccounts 2023-03-01 2024-02-29 07943874 frs-bus:SmallEntities 2023-03-01 2024-02-29 07943874 frs-bus:AuditExempt-NoAccountantsReport 2023-03-01 2024-02-29 07943874 frs-bus:SmallCompaniesRegimeForAccounts 2023-03-01 2024-02-29 07943874 frs-core:ListedExchangeTraded 2024-02-29 07943874 frs-core:ListedExchangeTraded 2023-02-28 07943874 frs-core:CostValuation frs-core:ListedExchangeTraded 2023-02-28 07943874 frs-core:CostValuation frs-core:ListedExchangeTraded 2024-02-29 07943874 frs-core:ProvisionsForImpairmentInvestments frs-core:ListedExchangeTraded 2023-02-28 07943874 frs-core:ProvisionsForImpairmentInvestments frs-core:ListedExchangeTraded 2024-02-29 07943874 frs-bus:Director1 2023-03-01 2024-02-29 07943874 frs-bus:Director2 2023-03-01 2024-02-29 07943874 frs-core:CurrentFinancialInstruments 1 2024-02-29 07943874 frs-countries:EnglandWales 2023-03-01 2024-02-29 07943874 2022-02-28 07943874 2023-02-28 07943874 2022-03-01 2023-02-28 07943874 frs-core:CurrentFinancialInstruments 2023-02-28 07943874 frs-core:Non-currentFinancialInstruments 2023-02-28 07943874 frs-core:ShareCapital 2023-02-28 07943874 frs-core:RetainedEarningsAccumulatedLosses 2023-02-28 07943874 frs-core:CurrentFinancialInstruments 1 2023-02-28
Registered number: 07943874
Squarity Ltd
Financial Statements
For The Year Ended 29 February 2024
My Accountant Friend
50 St Marys Road
Hemel Hempstead
Herts
HP2 5HL
Financial Statements
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 07943874
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 6,544 6,544
Investments 5 8,799 8,799
15,343 15,343
CURRENT ASSETS
Stocks 6 - 4,500
Debtors 7 40,795 28,421
Cash at bank and in hand 9,729 25,000
50,524 57,921
Creditors: Amounts Falling Due Within One Year 8 (45,814 ) (43,080 )
NET CURRENT ASSETS (LIABILITIES) 4,710 14,841
TOTAL ASSETS LESS CURRENT LIABILITIES 20,053 30,184
Creditors: Amounts Falling Due After More Than One Year 9 (5,015 ) (8,465 )
NET ASSETS 15,038 21,719
CAPITAL AND RESERVES
Called up share capital 10 2 2
Profit and Loss Account 15,036 21,717
SHAREHOLDERS' FUNDS 15,038 21,719
Page 1
Page 2
For the year ending 29 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 Ryan Callanan
Director
28/11/2024
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
Squarity Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 07943874 . The registered office is Mill Hill Grange Road, Tiptree, Colchester, CO5 0UL.
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 Straight Line
Fixtures & Fittings Straight Line
Computer Equipment Straight Line
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.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 2 (2023: )
2 -
4. Tangible Assets
Motor Vehicles Fixtures & Fittings Computer Equipment Total
£ £ £ £
Cost
As at 1 March 2023 8,195 7,536 37,201 52,932
As at 29 February 2024 8,195 7,536 37,201 52,932
Depreciation
As at 1 March 2023 5,866 7,035 33,487 46,388
As at 29 February 2024 5,866 7,035 33,487 46,388
Net Book Value
As at 29 February 2024 2,329 501 3,714 6,544
As at 1 March 2023 2,329 501 3,714 6,544
5. Investments
Listed
£
Cost
As at 1 March 2023 8,799
As at 29 February 2024 8,799
Provision
As at 1 March 2023 -
As at 29 February 2024 -
Net Book Value
As at 29 February 2024 8,799
As at 1 March 2023 8,799
6. Stocks
2024 2023
£ £
Stock - 1,500
Finished goods - 3,000
- 4,500
Page 4
Page 5
7. Debtors
2024 2023
£ £
Due within one year
Trade debtors - (2,578 )
Prepayments and accrued income 989 989
Other debtors (1) 6,650 6,650
Directors' loan accounts 4,113 -
11,752 5,061
Due after more than one year
Trade debtors 27,360 23,360
Corporation tax recoverable assets 1,683 -
29,043 23,360
40,795 28,421
8. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors (1 ) -
Corporation tax 30,105 22,864
Other taxes and social security 879 -
VAT 2,713 15,386
Other creditors (1) 6,028 -
Accruals and deferred income 6,090 4,830
45,814 43,080
9. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Trade creditors 5,015 8,465
5,015 8,465
10. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 2 2
11. Directors Advances, Credits and Guarantees
Included within Debtors are the following loans to directors:
The above loan is unsecured, interest free and repayable on demand.
Page 5