Acorah Software Products - Accounts Production 16.1.200 false true 30 April 2023 1 May 2022 false 1 May 2023 30 April 2024 30 April 2024 SC626846 Mr Josef Elias iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure SC626846 2023-04-30 SC626846 2024-04-30 SC626846 2023-05-01 2024-04-30 SC626846 frs-core:CurrentFinancialInstruments 2024-04-30 SC626846 frs-core:Non-currentFinancialInstruments 2024-04-30 SC626846 frs-core:FurnitureFittings 2024-04-30 SC626846 frs-core:FurnitureFittings 2023-05-01 2024-04-30 SC626846 frs-core:FurnitureFittings 2023-04-30 SC626846 frs-core:InvestmentPropertyIncludedWithinPPE 2024-04-30 SC626846 frs-core:InvestmentPropertyIncludedWithinPPE 2023-05-01 2024-04-30 SC626846 frs-core:InvestmentPropertyIncludedWithinPPE 2023-04-30 SC626846 frs-core:ShareCapital 2024-04-30 SC626846 frs-core:RetainedEarningsAccumulatedLosses 2024-04-30 SC626846 frs-bus:PrivateLimitedCompanyLtd 2023-05-01 2024-04-30 SC626846 frs-bus:FilletedAccounts 2023-05-01 2024-04-30 SC626846 frs-bus:SmallEntities 2023-05-01 2024-04-30 SC626846 frs-bus:AuditExempt-NoAccountantsReport 2023-05-01 2024-04-30 SC626846 frs-bus:SmallCompaniesRegimeForAccounts 2023-05-01 2024-04-30 SC626846 frs-bus:Director1 2023-05-01 2024-04-30 SC626846 frs-countries:Scotland 2023-05-01 2024-04-30 SC626846 2022-04-30 SC626846 2023-04-30 SC626846 2022-05-01 2023-04-30 SC626846 frs-core:CurrentFinancialInstruments 2023-04-30 SC626846 frs-core:Non-currentFinancialInstruments 2023-04-30 SC626846 frs-core:ShareCapital 2023-04-30 SC626846 frs-core:RetainedEarningsAccumulatedLosses 2023-04-30
Registered number: SC626846
Yorico Ltd.
Unaudited Financial Statements
For The Year Ended 30 April 2024
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: SC626846
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 55,782 55,921
55,782 55,921
CURRENT ASSETS
Debtors 5 500 500
Cash at bank and in hand 9,942 8,116
10,442 8,616
Creditors: Amounts Falling Due Within One Year 6 (24,510 ) (24,257 )
NET CURRENT ASSETS (LIABILITIES) (14,068 ) (15,641 )
TOTAL ASSETS LESS CURRENT LIABILITIES 41,714 40,280
Creditors: Amounts Falling Due After More Than One Year 7 (36,638 ) (36,633 )
NET ASSETS 5,076 3,647
CAPITAL AND RESERVES
Called up share capital 9 1 1
Profit and Loss Account 5,075 3,646
SHAREHOLDERS' FUNDS 5,076 3,647
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For the year ending 30 April 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 Josef Elias
Director
22/01/2025
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
Yorico Ltd. is a private company, limited by shares, incorporated in Scotland, registered number SC626846 . The registered office is 2nd Floor, Belgrave Court, Rosehall Road, Bellshill, ML4 3NR.
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 consists of rental income which is recognised on a straight-line basis over the lease term.
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:
Fixtures & Fittings 25% reducing balance
2.4. Investment Properties
All investment properties are carried at fair value determined annually and derived from the current market rents and
investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location
or condition of the specific asset. No depreciation is provided for. Changes in fair value are recognised in the profit and
loss account.
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 initially at fair value, net of transaction costs, and are measured subsequently at amortised cost
using the effective interest method.
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 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: 1 (2023: 1)
1 1
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4. Tangible Assets
Investment Properties Fixtures & Fittings Total
£ £ £
Cost
As at 1 May 2023 55,367 1,434 56,801
As at 30 April 2024 55,367 1,434 56,801
Depreciation
As at 1 May 2023 - 880 880
Provided during the period - 139 139
As at 30 April 2024 - 1,019 1,019
Net Book Value
As at 30 April 2024 55,367 415 55,782
As at 1 May 2023 55,367 554 55,921
Cost or valuation as at 30 April 2024 represented by:
Investment Properties Fixtures & Fittings Total
£ £ £
At cost - 1,434 1,434
At valuation 55,367 - 55,367
55,367 1,434 56,801
Investment properties were valued during the year on an open market basis by the director.
5. Debtors
2024 2023
£ £
Due within one year
Trade debtors 500 500
6. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Corporation tax 368 432
Other creditors 500 500
Accruals and deferred income 940 770
Director's loan account 22,702 22,555
24,510 24,257
7. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Bank loans 36,638 36,633
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8. Secured Creditors
Of the creditors falling due within and after more than one year the following amounts are secured.
Belmont Green Finance Ltd Trading as Vida Homeloans hold a standard security of the property, 2/3 53 Greenhill Road - Glasgow G73 2ST in respect of the bank loan.
2024 2023
£ £
Bank loans and overdrafts 36,638 36,633
9. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 1 1
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