Acorah Software Products - Accounts Production 16.1.200 false true 31 July 2023 1 August 2022 false 1 August 2023 31 July 2024 31 July 2024 SC571817 Mr Thomas O'Brien iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure SC571817 2023-07-31 SC571817 2024-07-31 SC571817 2023-08-01 2024-07-31 SC571817 frs-core:CurrentFinancialInstruments 2024-07-31 SC571817 frs-core:Non-currentFinancialInstruments 2024-07-31 SC571817 frs-core:BetweenOneFiveYears 2024-07-31 SC571817 frs-core:ComputerEquipment 2024-07-31 SC571817 frs-core:ComputerEquipment 2023-08-01 2024-07-31 SC571817 frs-core:ComputerEquipment 2023-07-31 SC571817 frs-core:FurnitureFittings 2024-07-31 SC571817 frs-core:FurnitureFittings 2023-08-01 2024-07-31 SC571817 frs-core:FurnitureFittings 2023-07-31 SC571817 frs-core:MotorVehicles 2024-07-31 SC571817 frs-core:MotorVehicles 2023-08-01 2024-07-31 SC571817 frs-core:MotorVehicles 2023-07-31 SC571817 frs-core:ShareCapital 2024-07-31 SC571817 frs-core:RetainedEarningsAccumulatedLosses 2024-07-31 SC571817 frs-bus:PrivateLimitedCompanyLtd 2023-08-01 2024-07-31 SC571817 frs-bus:FilletedAccounts 2023-08-01 2024-07-31 SC571817 frs-bus:SmallEntities 2023-08-01 2024-07-31 SC571817 frs-bus:AuditExempt-NoAccountantsReport 2023-08-01 2024-07-31 SC571817 frs-bus:SmallCompaniesRegimeForAccounts 2023-08-01 2024-07-31 SC571817 frs-bus:Director1 2023-08-01 2024-07-31 SC571817 frs-core:CurrentFinancialInstruments 1 2024-07-31 SC571817 frs-countries:Scotland 2023-08-01 2024-07-31 SC571817 2022-07-31 SC571817 2023-07-31 SC571817 2022-08-01 2023-07-31 SC571817 frs-core:CurrentFinancialInstruments 2023-07-31 SC571817 frs-core:Non-currentFinancialInstruments 2023-07-31 SC571817 frs-core:BetweenOneFiveYears 2023-07-31 SC571817 frs-core:ShareCapital 2023-07-31 SC571817 frs-core:RetainedEarningsAccumulatedLosses 2023-07-31 SC571817 frs-core:CurrentFinancialInstruments 1 2023-07-31
Registered number: SC571817
TOC Accountants Ltd
Financial Statements
For The Year Ended 31 July 2024
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: SC571817
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 84,868 37,860
84,868 37,860
CURRENT ASSETS
Debtors 5 185,976 144,044
Cash at bank and in hand 15,608 62,106
201,584 206,150
Creditors: Amounts Falling Due Within One Year 6 (135,862 ) (108,280 )
NET CURRENT ASSETS (LIABILITIES) 65,722 97,870
TOTAL ASSETS LESS CURRENT LIABILITIES 150,590 135,730
Creditors: Amounts Falling Due After More Than One Year 7 (56,299 ) (70,057 )
NET ASSETS 94,291 65,673
CAPITAL AND RESERVES
Called up share capital 9 1 1
Profit and Loss Account 94,290 65,672
SHAREHOLDERS' FUNDS 94,291 65,673
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For the year ending 31 July 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 Thomas O'Brien
Director
14 January 2025
The notes on pages 3 to 5 form part of these financial statements.
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Notes to the Financial Statements
1. General Information
TOC Accountants Ltd is a private company, limited by shares, incorporated in Scotland, registered number SC571817 . The registered office is 73 Dunnikier Road, Kirkcaldy, KY1 2RL.
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 25% Reducing Balance
Fixtures & Fittings 15% Reducing Balance
Computer Equipment 15% Reducing Balance
2.4. Leasing and Hire Purchase Contracts
Assets obtained under finance leases are capitalised as tangible fixed assets. Assets acquired under finance leases are depreciated over the shorter of the lease term and their useful lives. Assets acquired under hire purchase contracts are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in the creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.

Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to profit and loss account as incurred.
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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: 3 (2023: 6)
3 6
4. Tangible Assets
Motor Vehicles Fixtures & Fittings Computer Equipment Total
£ £ £ £
Cost
As at 1 August 2023 17,500 37,154 8,465 63,119
Additions 54,000 - - 54,000
As at 31 July 2024 71,500 37,154 8,465 117,119
Depreciation
As at 1 August 2023 4,375 16,048 4,836 25,259
Provided during the period 3,281 3,166 545 6,992
As at 31 July 2024 7,656 19,214 5,381 32,251
Net Book Value
As at 31 July 2024 63,844 17,940 3,084 84,868
As at 1 August 2023 13,125 21,106 3,629 37,860
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5. Debtors
2024 2023
£ £
Due within one year
Trade debtors 43,314 19,028
Related party debtor 142,662 125,016
185,976 144,044
6. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 17,210 1,631
Corporation tax 31,861 18,932
Other taxes and social security 1,343 17,040
VAT 15,996 19,639
Other creditors 171 973
Director's loan account 69,281 50,065
135,862 108,280
7. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Net obligations under finance lease and hire purchase contracts 38,667 -
Bank loans 17,632 70,057
56,299 70,057
8. Obligations Under Finance Leases and Hire Purchase
2024 2023
£ £
The future minimum finance lease payments are as follows:
Later than one year and not later than five years 38,667 -
9. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 1 1
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