Acorah Software Products - Accounts Production 15.0.600 false true true 31 January 2023 1 March 2022 false 1 February 2023 31 January 2024 31 January 2024 SC363530 Mr Michael Day Mrs Katharine Day iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure SC363530 2023-01-31 SC363530 2024-01-31 SC363530 2023-02-01 2024-01-31 SC363530 frs-core:CurrentFinancialInstruments 2024-01-31 SC363530 frs-core:Non-currentFinancialInstruments 2024-01-31 SC363530 frs-core:ComputerEquipment 2023-02-01 2024-01-31 SC363530 frs-core:DevelopmentCostsCapitalisedDevelopmentExpenditure 2023-02-01 2024-01-31 SC363530 frs-core:FurnitureFittings 2023-02-01 2024-01-31 SC363530 frs-core:OtherResidualIntangibleAssets 2024-01-31 SC363530 frs-core:OtherResidualIntangibleAssets 2023-01-31 SC363530 frs-core:PlantMachinery 2023-02-01 2024-01-31 SC363530 frs-core:ShareCapital 2024-01-31 SC363530 frs-core:RetainedEarningsAccumulatedLosses 2024-01-31 SC363530 frs-bus:PrivateLimitedCompanyLtd 2023-02-01 2024-01-31 SC363530 frs-bus:FilletedAccounts 2023-02-01 2024-01-31 SC363530 frs-bus:SmallEntities 2023-02-01 2024-01-31 SC363530 frs-bus:AuditExempt-NoAccountantsReport 2023-02-01 2024-01-31 SC363530 frs-bus:SmallCompaniesRegimeForAccounts 2023-02-01 2024-01-31 SC363530 frs-bus:Director1 2023-02-01 2024-01-31 SC363530 frs-bus:CompanySecretary1 2023-02-01 2024-01-31 SC363530 frs-countries:Scotland 2023-02-01 2024-01-31 SC363530 2022-02-28 SC363530 2023-01-31 SC363530 2022-03-01 2023-01-31 SC363530 frs-core:CurrentFinancialInstruments 2023-01-31 SC363530 frs-core:Non-currentFinancialInstruments 2023-01-31 SC363530 frs-core:ShareCapital 2023-01-31 SC363530 frs-core:RetainedEarningsAccumulatedLosses 2023-01-31
Registered number: SC363530
Intrepid Cinema Limited
Unaudited Financial Statements
For The Year Ended 31 January 2024
EAM London Limited
Chartered Tax Accountants
215-221 Borough High Street
London
SE1 1JA
Unaudited Financial Statements
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: SC363530
31 January 2024 31 January 2023
Notes £ £ £ £
FIXED ASSETS
CURRENT ASSETS
Debtors 5 80,257 113,241
Cash at bank and in hand 1,675 1,578
81,932 114,819
Creditors: Amounts Falling Due Within One Year 6 (6,999 ) (12,534 )
NET CURRENT ASSETS (LIABILITIES) 74,933 102,285
TOTAL ASSETS LESS CURRENT LIABILITIES 74,933 102,285
Creditors: Amounts Falling Due After More Than One Year 7 (346,019 ) (305,337 )
NET LIABILITIES (271,086 ) (203,052 )
CAPITAL AND RESERVES
Called up share capital 8 1 1
Profit and Loss Account (271,087 ) (203,053 )
SHAREHOLDERS' FUNDS (271,086) (203,052)
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Page 2
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 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 Michael Day
Director
29/11/2024
The notes on pages 3 to 5 form part of these financial statements.
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Page 3
Notes to the Financial Statements
1. General Information
Intrepid Cinema Limited is a private company, limited by shares, incorporated in Scotland, registered number SC363530 . The registered office is 37 Dirleton Ave, North Berwick, EH39 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. Going Concern Disclosure
The directors have not identified any material uncertainties related to events or conditions that may cast significant doubt about the company's ability to continue as a going concern.
2.3. 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.
2.4. Intangible Fixed Assets and Amortisation - Other Intangible
Other intangible assets are .... It is amortised to profit and loss account over its estimated economic life of .... years.
2.5. 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 33% straight line
Fixtures & Fittings 25% straight line
Computer Equipment 33% straight line
2.6. 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.
2.7. 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
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2.7. 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: 1 (2023: 1)
1 1
4. Intangible Assets
Other
£
Cost
As at 1 February 2023 7,200
As at 31 January 2024 7,200
Amortisation
As at 1 February 2023 7,200
As at 31 January 2024 7,200
Net Book Value
As at 31 January 2024 -
As at 1 February 2023 -
5. Debtors
31 January 2024 31 January 2023
£ £
Due within one year
Trade debtors - 3,369
Other debtors 68,347 4,208
Corporation tax recoverable assets 11,910 68,382
Director's loan account - 2,216
Amounts owed by group undertakings - 35,066
80,257 113,241
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6. Creditors: Amounts Falling Due Within One Year
31 January 2024 31 January 2023
£ £
Trade creditors - 216
Bank loans and overdrafts 4,664 4,664
Other taxes and social security - 633
VAT - 54
Other creditors 1,036 1,036
Accruals and deferred income 750 5,931
Director's loan account 549 -
6,999 12,534
7. Creditors: Amounts Falling Due After More Than One Year
31 January 2024 31 January 2023
£ £
Bank loans 6,250 10,568
Other creditors 339,769 294,769
346,019 305,337
8. Share Capital
31 January 2024 31 January 2023
£ £
Allotted, Called up and fully paid 1 1
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