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Registered number: SC410118
MAB Bookmakers Limited
Unaudited Financial Statements
For The Year Ended 31 March 2024
Sense Accounting Limited
36 Bruntsfield Place
Edinburgh
EH10 4HJ
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—6
Page 1
Balance Sheet
Registered number: SC410118
2024 2023
Notes £ £ £ £
FIXED ASSETS
Intangible Assets 4 61,999 69,749
Tangible Assets 5 57,248 59,816
119,247 129,565
CURRENT ASSETS
Debtors 6 13,305 19,870
Cash at bank and in hand 63,317 5,125
76,622 24,995
Creditors: Amounts Falling Due Within One Year 7 (203,723 ) (84,206 )
NET CURRENT ASSETS (LIABILITIES) (127,101 ) (59,211 )
TOTAL ASSETS LESS CURRENT LIABILITIES (7,854 ) 70,354
Creditors: Amounts Falling Due After More Than One Year 8 (13,130 ) (23,377 )
PROVISIONS FOR LIABILITIES
Deferred Taxation (204 ) (600 )
NET (LIABILITIES)/ASSETS (21,188 ) 46,377
CAPITAL AND RESERVES
Called up share capital 9 100 100
Profit and Loss Account (21,288 ) 46,277
SHAREHOLDERS' FUNDS (21,188) 46,377
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Page 2
For the year ending 31 March 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 M A Bringhurst
Director
23 December 2024
The notes on pages 3 to 6 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
MAB Bookmakers Limited is a private company, limited by shares, incorporated in Scotland, registered number SC410118 . The registered office is 62-64 Walter Scott Avenue, Edinburgh, EH16 5RL.
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 director has carried out an assessment of the going concern position of the company, including consideration of the company's net liability position. With their continued support, the director has concluded that they have a reasonable expectation that the company has adequate access to resources to continue as a going concern for a period of at least 12 months. Accordingly, they continue to adopt the going concern basis in preparing these financial statements.
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 rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
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 - 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 20 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:
Freehold Not depreciated
Fixtures & Fittings 25% Straight line
Computer Equipment 25% Straight line
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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.
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 and deferred tax are recognised in profit or loss for the year, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case current and deferred tax are 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: 5)
1 5
4. Intangible Assets
Goodwill
£
Cost
As at 1 April 2023 154,998
As at 31 March 2024 154,998
Amortisation
As at 1 April 2023 85,249
Provided during the period 7,750
As at 31 March 2024 92,999
Net Book Value
As at 31 March 2024 61,999
As at 1 April 2023 69,749
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5. Tangible Assets
Land & Property
Freehold Fixtures & Fittings Computer Equipment Total
£ £ £ £
Cost
As at 1 April 2023 55,000 30,051 35,729 120,780
As at 31 March 2024 55,000 30,051 35,729 120,780
Depreciation
As at 1 April 2023 - 30,051 30,913 60,964
Provided during the period - - 2,568 2,568
As at 31 March 2024 - 30,051 33,481 63,532
Net Book Value
As at 31 March 2024 55,000 - 2,248 57,248
As at 1 April 2023 55,000 - 4,816 59,816
6. Debtors
2024 2023
£ £
Due within one year
Prepayments and accrued income - 1,355
Corporation tax recoverable assets 4,603 4,603
Director's loan account - 5,210
Amounts owed by related parties 8,702 8,702
13,305 19,870
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7. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 1,091 1,669
Bank loans and overdrafts 10,134 9,823
Accruals and deferred income 1,140 1,200
Amounts owed to related parties 191,358 71,514
203,723 84,206
8. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Bank loans 13,130 23,377
9. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 100 100
10. Directors Advances, Credits and Guarantees
Included within Debtors are the following loans to directors:
As at 1 April 2023 Amounts advanced Amounts repaid Amounts written off As at 31 March 2024
£ £ £ £ £
Mr Murray Bringhurst 5,210 45,035 (28,500 ) (21,745) -
11. Related Party Transactions
At the yearend, the director owed the company £nil (2023: £5,210).
At 31 March 2024, there was an amount of £191,358 (2023: £71,514) due to Scotb123 Ltd,  a company with a common director. 
At 31 March 2024, there was an amount of £8,702 (2023: £8,702) due from MAB Property Limited, a company with a common director. 
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