Acorah Software Products - Accounts Production 16.1.300 false true 31 October 2023 1 November 2022 false 1 November 2023 31 October 2024 31 October 2024 SC578385 Mr Andrew Dunlop iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure SC578385 2023-10-31 SC578385 2024-10-31 SC578385 2023-11-01 2024-10-31 SC578385 frs-core:CurrentFinancialInstruments 2024-10-31 SC578385 frs-core:ShareCapital 2024-10-31 SC578385 frs-core:RetainedEarningsAccumulatedLosses 2024-10-31 SC578385 frs-bus:PrivateLimitedCompanyLtd 2023-11-01 2024-10-31 SC578385 frs-bus:FilletedAccounts 2023-11-01 2024-10-31 SC578385 frs-bus:SmallEntities 2023-11-01 2024-10-31 SC578385 frs-bus:AuditExempt-NoAccountantsReport 2023-11-01 2024-10-31 SC578385 frs-bus:SmallCompaniesRegimeForAccounts 2023-11-01 2024-10-31 SC578385 frs-bus:Director1 2023-11-01 2024-10-31 SC578385 frs-countries:Scotland 2023-11-01 2024-10-31 SC578385 2022-10-31 SC578385 2023-10-31 SC578385 2022-11-01 2023-10-31 SC578385 frs-core:CurrentFinancialInstruments 2023-10-31 SC578385 frs-core:ShareCapital 2023-10-31 SC578385 frs-core:RetainedEarningsAccumulatedLosses 2023-10-31
Registered number: SC578385
ITSWINETIME Ltd
Unaudited Financial Statements
For The Year Ended 31 October 2024
Donn Sheldon
21 Forbes Place
Paisley
PA1 1UT
Contents
Page
Balance Sheet 1
Notes to the Financial Statements 2—3
Page 1
Balance Sheet
Registered number: SC578385
2024 2023
Notes £ £ £ £
CURRENT ASSETS
Stocks 4 11,807 21,000
Debtors 5 1,257 2,518
Cash at bank and in hand 3,320 724
16,384 24,242
Creditors: Amounts Falling Due Within One Year 6 (41,024 ) (54,438 )
NET CURRENT ASSETS (LIABILITIES) (24,640 ) (30,196 )
TOTAL ASSETS LESS CURRENT LIABILITIES (24,640 ) (30,196 )
NET LIABILITIES (24,640 ) (30,196 )
CAPITAL AND RESERVES
Called up share capital 7 2 2
Profit and Loss Account (24,642 ) (30,198 )
SHAREHOLDERS' FUNDS (24,640) (30,196)
For the year ending 31 October 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 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 Andrew Dunlop
Director
21/10/2025
The notes on pages 2 to 3 form part of these financial statements.
Page 1
Page 2
Notes to the Financial Statements
1. General Information
ITSWINETIME Ltd is a private company, limited by shares, incorporated in Scotland, registered number SC578385 . The registered office is Unit 9, Bleasdale Court, 2 South Avenue, Clydebank Business Park, Clydebank, Dunbartonshire, G81 2LE.
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. 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.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 1 (2023: 2)
1 2
4. Stocks
2024 2023
£ £
Finished goods 11,807 21,000
5. Debtors
2024 2023
£ £
Due within one year
VAT 1,257 2,518
6. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors - 3,997
Other creditors 11,270 20,687
Accruals and deferred income 900 900
Director's loan account 28,854 28,854
41,024 54,438
Page 2
Page 3
7. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 2 2
Page 3