Acorah Software Products - Accounts Production 16.1.300 false true 31 May 2023 1 June 2022 false 1 June 2023 31 May 2024 31 May 2024 SC590525 Mr Steven Jones Mrs. Victoria Jones iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure SC590525 2023-05-31 SC590525 2024-05-31 SC590525 2023-06-01 2024-05-31 SC590525 frs-core:Non-currentFinancialInstruments 2024-05-31 SC590525 frs-core:ShareCapital 2024-05-31 SC590525 frs-core:RetainedEarningsAccumulatedLosses 2024-05-31 SC590525 frs-bus:PrivateLimitedCompanyLtd 2023-06-01 2024-05-31 SC590525 frs-bus:AbridgedAccounts 2023-06-01 2024-05-31 SC590525 frs-bus:SmallEntities 2023-06-01 2024-05-31 SC590525 frs-bus:AuditExempt-NoAccountantsReport 2023-06-01 2024-05-31 SC590525 frs-bus:SmallCompaniesRegimeForAccounts 2023-06-01 2024-05-31 SC590525 frs-bus:Director1 2023-06-01 2024-05-31 SC590525 frs-bus:Director2 2023-06-01 2024-05-31 SC590525 frs-countries:Scotland 2023-06-01 2024-05-31 SC590525 2022-05-31 SC590525 2023-05-31 SC590525 2022-06-01 2023-05-31 SC590525 frs-core:Non-currentFinancialInstruments 2023-05-31 SC590525 frs-core:ShareCapital 2023-05-31 SC590525 frs-core:RetainedEarningsAccumulatedLosses 2023-05-31
Registered number: SC590525
1235 Ltd
Unaudited ABRIDGED Financial Statements
For The Year Ended 31 May 2024
Contents
Page
Abridged Balance Sheet 1—2
Notes to the Abridged Financial Statements 3—4
Page 1
Abridged Balance Sheet
Registered number: SC590525
2024 2023
Notes £ £ £ £
FIXED ASSETS
Investment Properties 4 1,100,000 1,100,000
Investments 43,174 3,880
1,143,174 1,103,880
CURRENT ASSETS
Debtors 565,000 314,435
Cash at bank and in hand 43,741 26,619
608,741 341,054
Creditors: Amounts Falling Due Within One Year (1,135,867 ) (838,676 )
NET CURRENT ASSETS (LIABILITIES) (527,126 ) (497,622 )
TOTAL ASSETS LESS CURRENT LIABILITIES 616,048 606,258
Creditors: Amounts Falling Due After More Than One Year (462,500 ) (487,500 )
PROVISIONS FOR LIABILITIES
Deferred Taxation (10,773 ) (8,187 )
NET ASSETS 142,775 110,571
CAPITAL AND RESERVES
Called up share capital 6 100 100
Profit and Loss Account 142,675 110,471
SHAREHOLDERS' FUNDS 142,775 110,571
Page 1
Page 2
For the year ending 31 May 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.
All of the company's members have consented to the preparation of an Abridged Profit and Loss Account and an Abridged Balance Sheet for the year end 31 May 2024 in accordance with section 444(2A) of the Companies Act 2006.
On behalf of the board
Mr Steven Jones
Director
12/02/2025
The notes on pages 3 to 4 form part of these financial statements.
Page 2
Page 3
Notes to the Abridged Financial Statements
1. General Information
1235 Ltd is a private company, limited by shares, incorporated in Scotland, registered number SC590525 . The registered office is 3, Hill Street Lane South, Edinburgh, Midlothian, EH2 3AE.
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.
2.3. 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.
2.4. Financial Instruments
The company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and payables, loans from banks and other third parties.

At the end of each reporting period, financial assets that are measured at cost are assessed for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the Income Statement. lf there is a decrease in the impairment loss arising from an event occurring after the impairment was recognised the impairment is reversed. The reversal is such that the current carrying amount does not exceed what the carrying amount would have been had the impairment not previously been recognised. The impairment reversal is recognised in the Income Statement.

Financial assets are derecognised when (a) the contractual rights to the cash fiows arising from the asset expire or are settled, or (b) substantially all the risks and rewards of the ownership of the asset are transferred to another party, or (c) control of the asset has been transferred to another party.

Financial liabilities are measured at amortised cost less any accumulated impairment losses.
2.5. Taxation
Taxation for the period 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: NIL (2023: NIL)
- -
Page 3
Page 4
4. Investment Property
2024
£
Fair Value
As at 1 June 2023 and 31 May 2024 1,100,000
Investment property was revalued in February 2022 by J&E Shepherd who are independent chartered surveyors based in Edinburgh, on an open market basis. Investment property additions after this date are included at cost. The directors have considered the market conditions as at 31 May 2024 and are of the opinion that the fair value in the accounts does not materially differ from the market value.
5. Secured Creditors
Of the creditors falling due within and after more than one year the following amounts are secured.
Adam & Company PLC holds standard securities over the company's properties at 2 Broxden Avenue, Perth, PH2 0PX.
2024 2023
£ £
Bank loans and overdrafts 487,500 512,500
6. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 100 100
7. Reserves
As at 31 May 2024, there were distributable reserves of £110,357 (2023 £75,567) and non-distributable reserves of £32,318 (2023 £34,904).
Page 4