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 SC526035 Mr Angus Robinson Ms Amy McDonald Mr Thomas Craig iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure SC526035 2023-02-28 SC526035 2024-02-29 SC526035 2023-03-01 2024-02-29 SC526035 frs-core:CurrentFinancialInstruments 2024-02-29 SC526035 frs-core:Non-currentFinancialInstruments 2024-02-29 SC526035 frs-core:ComputerEquipment 2024-02-29 SC526035 frs-core:ComputerEquipment 2023-03-01 2024-02-29 SC526035 frs-core:ComputerEquipment 2023-02-28 SC526035 frs-core:FurnitureFittings 2024-02-29 SC526035 frs-core:FurnitureFittings 2023-03-01 2024-02-29 SC526035 frs-core:FurnitureFittings 2023-02-28 SC526035 frs-core:NetGoodwill 2024-02-29 SC526035 frs-core:NetGoodwill 2023-03-01 2024-02-29 SC526035 frs-core:NetGoodwill 2023-02-28 SC526035 frs-core:SharePremium 2024-02-29 SC526035 frs-core:ShareCapital 2024-02-29 SC526035 frs-core:RetainedEarningsAccumulatedLosses 2024-02-29 SC526035 frs-bus:PrivateLimitedCompanyLtd 2023-03-01 2024-02-29 SC526035 frs-bus:FilletedAccounts 2023-03-01 2024-02-29 SC526035 frs-bus:SmallEntities 2023-03-01 2024-02-29 SC526035 frs-bus:AuditExempt-NoAccountantsReport 2023-03-01 2024-02-29 SC526035 frs-bus:SmallCompaniesRegimeForAccounts 2023-03-01 2024-02-29 SC526035 frs-bus:Director1 2023-03-01 2024-02-29 SC526035 frs-bus:Director2 2023-03-01 2024-02-29 SC526035 frs-bus:Director3 2023-03-01 2024-02-29 SC526035 frs-countries:Scotland 2023-03-01 2024-02-29 SC526035 2022-02-28 SC526035 2023-02-28 SC526035 2022-03-01 2023-02-28 SC526035 frs-core:CurrentFinancialInstruments 2023-02-28 SC526035 frs-core:Non-currentFinancialInstruments 2023-02-28 SC526035 frs-core:SharePremium 2023-02-28 SC526035 frs-core:ShareCapital 2023-02-28 SC526035 frs-core:RetainedEarningsAccumulatedLosses 2023-02-28
Registered number: SC526035
Vanguard Works Ltd
Unaudited Financial Statements
For The Year Ended 29 February 2024
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—4
Page 1
Balance Sheet
Registered number: SC526035
2024 2023
Notes £ £ £ £
FIXED ASSETS
Intangible Assets 4 3,190 4,720
Tangible Assets 5 5,130 3,278
8,320 7,998
CURRENT ASSETS
Debtors 6 29,082 16,354
Cash at bank and in hand 36,046 33,329
65,128 49,683
Creditors: Amounts Falling Due Within One Year 7 (52,546 ) (33,357 )
NET CURRENT ASSETS (LIABILITIES) 12,582 16,326
TOTAL ASSETS LESS CURRENT LIABILITIES 20,902 24,324
Creditors: Amounts Falling Due After More Than One Year 8 (20,669 ) (24,314 )
NET ASSETS 233 10
CAPITAL AND RESERVES
Called up share capital 9 4,808 4,808
Share premium account 208,892 208,892
Profit and Loss Account (213,467 ) (213,690 )
SHAREHOLDERS' FUNDS 233 10
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 Angus Robinson
Director
Ms Amy McDonald
Director
28/11/2024
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
Vanguard Works Ltd is a private company, limited by shares, incorporated in Scotland, registered number SC526035 . The registered office is Wellpark Enterprise Centre, 120 Sydney Street, Glasgow, G31 1JF.
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.
2.3. Intangible Fixed Assets and Amortisation - Goodwill
Goodwill is the difference between amounts paid on the acquisition of a business and the fair value of the separable net assets. It is amortised to profit and loss account over its estimated economic life of 10 years.
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:
Fixtures & Fittings 33.33% Straight Line
Computer Equipment 33.33% Straight Line
2.5. Financial Instruments
The company only has basic financial instruments.
Short term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.
Short term trade creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured inititally at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 3 (2023: 3)
3 3
4. Intangible Assets
Goodwill
£
Cost
As at 1 March 2023 15,300
As at 29 February 2024 15,300
Amortisation
As at 1 March 2023 10,580
Provided during the period 1,530
As at 29 February 2024 12,110
Net Book Value
As at 29 February 2024 3,190
As at 1 March 2023 4,720
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Page 4
5. Tangible Assets
Fixtures & Fittings Computer Equipment Total
£ £ £
Cost
As at 1 March 2023 9,918 3,452 13,370
Additions 1,268 2,456 3,724
As at 29 February 2024 11,186 5,908 17,094
Depreciation
As at 1 March 2023 9,708 384 10,092
Provided during the period 329 1,543 1,872
As at 29 February 2024 10,037 1,927 11,964
Net Book Value
As at 29 February 2024 1,149 3,981 5,130
As at 1 March 2023 210 3,068 3,278
6. Debtors
2024 2023
£ £
Due within one year
Trade debtors 26,457 14,617
Prepayments and accrued income 2,625 1,737
29,082 16,354
7. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 7,773 2,531
Bank loans and overdrafts 3,647 3,647
Other taxes and social security 10,441 10,200
VAT 21,435 8,715
Accruals and deferred income 7,692 6,706
Directors' loan accounts 1,558 1,558
52,546 33,357
8. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Bank loans 20,669 24,314
9. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 4,808 4,808
Page 4