Acorah Software Products - Accounts Production 16.1.200 false true 31 March 2023 1 April 2022 false 1 April 2023 31 March 2024 31 March 2024 SC506627 Mr Stuart Robertson Mrs Jade Robertson iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure SC506627 2023-03-31 SC506627 2024-03-31 SC506627 2023-04-01 2024-03-31 SC506627 frs-core:CurrentFinancialInstruments 2024-03-31 SC506627 frs-core:Non-currentFinancialInstruments 2024-03-31 SC506627 frs-core:ComputerEquipment 2024-03-31 SC506627 frs-core:ComputerEquipment 2023-04-01 2024-03-31 SC506627 frs-core:ComputerEquipment 2023-03-31 SC506627 frs-core:DevelopmentCostsCapitalisedDevelopmentExpenditure 2023-04-01 2024-03-31 SC506627 frs-core:FurnitureFittings 2024-03-31 SC506627 frs-core:FurnitureFittings 2023-04-01 2024-03-31 SC506627 frs-core:FurnitureFittings 2023-03-31 SC506627 frs-core:MotorVehicles 2024-03-31 SC506627 frs-core:MotorVehicles 2023-04-01 2024-03-31 SC506627 frs-core:MotorVehicles 2023-03-31 SC506627 frs-core:OtherResidualIntangibleAssets 2024-03-31 SC506627 frs-core:OtherResidualIntangibleAssets 2023-04-01 2024-03-31 SC506627 frs-core:OtherResidualIntangibleAssets 2023-03-31 SC506627 frs-core:PlantMachinery 2024-03-31 SC506627 frs-core:PlantMachinery 2023-04-01 2024-03-31 SC506627 frs-core:PlantMachinery 2023-03-31 SC506627 frs-core:ShareCapital 2024-03-31 SC506627 frs-core:RetainedEarningsAccumulatedLosses 2024-03-31 SC506627 frs-bus:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 SC506627 frs-bus:FilletedAccounts 2023-04-01 2024-03-31 SC506627 frs-bus:SmallEntities 2023-04-01 2024-03-31 SC506627 frs-bus:AuditExempt-NoAccountantsReport 2023-04-01 2024-03-31 SC506627 frs-bus:SmallCompaniesRegimeForAccounts 2023-04-01 2024-03-31 SC506627 frs-bus:Director1 2023-04-01 2024-03-31 SC506627 frs-bus:Director2 2023-04-01 2024-03-31 SC506627 frs-countries:Scotland 2023-04-01 2024-03-31 SC506627 2022-03-31 SC506627 2023-03-31 SC506627 2022-04-01 2023-03-31 SC506627 frs-core:CurrentFinancialInstruments 2023-03-31 SC506627 frs-core:Non-currentFinancialInstruments 2023-03-31 SC506627 frs-core:ShareCapital 2023-03-31 SC506627 frs-core:RetainedEarningsAccumulatedLosses 2023-03-31
Registered number: SC506627
Little Lies Ltd
Unaudited Financial Statements
For The Year Ended 31 March 2024
Ashton McGill
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: SC506627
2024 2023
Notes £ £ £ £
FIXED ASSETS
Intangible Assets 4 - 57
Tangible Assets 5 21,687 67,712
21,687 67,769
CURRENT ASSETS
Stocks 6 89,086 165,089
Debtors 7 43,300 21,534
Cash at bank and in hand 175,190 172,719
307,576 359,342
Creditors: Amounts Falling Due Within One Year 8 (211,631 ) (99,845 )
NET CURRENT ASSETS (LIABILITIES) 95,945 259,497
TOTAL ASSETS LESS CURRENT LIABILITIES 117,632 327,266
Creditors: Amounts Falling Due After More Than One Year 9 (30,351 ) (101,202 )
NET ASSETS 87,281 226,064
CAPITAL AND RESERVES
Called up share capital 10 100 100
Profit and Loss Account 87,181 225,964
SHAREHOLDERS' FUNDS 87,281 226,064
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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 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 Stuart Robertson
Director
20/08/2024
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
Little Lies Ltd is a private company, limited by shares, incorporated in Scotland, registered number SC506627 . The registered office is 25 Tay street Lane, Dundee, Angus, DD1 4EF.
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. Intangible Fixed Assets and Amortisation - Other Intangible
Intangible assets are amortised to profit & loss over its estimated economic life of 5 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:
Plant & Machinery 20% SL
Motor Vehicles 20% SL
Fixtures & Fittings 20% SL
Computer Equipment 33% SL
2.5. 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.
2.6. 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.
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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.
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: 14 (2023: 16)
14 16
4. Intangible Assets
Other
£
Cost
As at 1 April 2023 1,693
As at 31 March 2024 1,693
Amortisation
As at 1 April 2023 1,636
Provided during the period 57
As at 31 March 2024 1,693
Net Book Value
As at 31 March 2024 -
As at 1 April 2023 57
5. Tangible Assets
Plant & Machinery Motor Vehicles Fixtures & Fittings Computer Equipment Total
£ £ £ £ £
Cost
As at 1 April 2023 42,012 35,239 7,432 24,179 108,862
Additions 377 - - 1,124 1,501
Disposals - (31,568 ) - - (31,568 )
As at 31 March 2024 42,389 3,671 7,432 25,303 78,795
...CONTINUED
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Depreciation
As at 1 April 2023 18,313 3,671 3,247 15,919 41,150
Provided during the period 7,765 - 1,046 7,147 15,958
As at 31 March 2024 26,078 3,671 4,293 23,066 57,108
Net Book Value
As at 31 March 2024 16,311 - 3,139 2,237 21,687
As at 1 April 2023 23,699 31,568 4,185 8,260 67,712
6. Stocks
2024 2023
£ £
Finished goods 89,086 165,089
7. Debtors
2024 2023
£ £
Due within one year
Trade debtors - (18,797 )
Other debtors 43,300 40,331
43,300 21,534
8. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 56,337 59,111
Bank loans and overdrafts 17,337 4,315
Other creditors 74,219 7,654
Taxation and social security 63,738 28,765
211,631 99,845
9. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Bank loans 30,351 101,202
10. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 100 100
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