Acorah Software Products - Accounts Production 16.1.300 false true true 31 May 2023 1 June 2022 false 1 June 2023 31 May 2024 31 May 2024 SC630597 Mrs J Rodrigues Ms M White iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure SC630597 2023-05-31 SC630597 2024-05-31 SC630597 2023-06-01 2024-05-31 SC630597 frs-core:CurrentFinancialInstruments 2024-05-31 SC630597 frs-core:Non-currentFinancialInstruments 2024-05-31 SC630597 frs-core:ComputerEquipment 2024-05-31 SC630597 frs-core:ComputerEquipment 2023-06-01 2024-05-31 SC630597 frs-core:ComputerEquipment 2023-05-31 SC630597 frs-core:DevelopmentCostsCapitalisedDevelopmentExpenditure 2023-06-01 2024-05-31 SC630597 frs-core:OtherResidualIntangibleAssets 2024-05-31 SC630597 frs-core:OtherResidualIntangibleAssets 2023-06-01 2024-05-31 SC630597 frs-core:OtherResidualIntangibleAssets 2023-05-31 SC630597 frs-core:ShareCapital 2024-05-31 SC630597 frs-core:RetainedEarningsAccumulatedLosses 2024-05-31 SC630597 frs-bus:PrivateLimitedCompanyLtd 2023-06-01 2024-05-31 SC630597 frs-bus:FilletedAccounts 2023-06-01 2024-05-31 SC630597 frs-bus:SmallEntities 2023-06-01 2024-05-31 SC630597 frs-bus:AuditExempt-NoAccountantsReport 2023-06-01 2024-05-31 SC630597 frs-bus:SmallCompaniesRegimeForAccounts 2023-06-01 2024-05-31 SC630597 frs-bus:Director1 2023-06-01 2024-05-31 SC630597 frs-bus:Director1 2023-05-31 SC630597 frs-bus:Director1 2024-05-31 SC630597 frs-bus:Director2 2023-06-01 2024-05-31 SC630597 frs-bus:Director2 2023-05-31 SC630597 frs-bus:Director2 2024-05-31 SC630597 frs-countries:Scotland 2023-06-01 2024-05-31 SC630597 2022-05-31 SC630597 2023-05-31 SC630597 2022-06-01 2023-05-31 SC630597 frs-core:CurrentFinancialInstruments 2023-05-31 SC630597 frs-core:Non-currentFinancialInstruments 2023-05-31 SC630597 frs-core:ShareCapital 2023-05-31 SC630597 frs-core:RetainedEarningsAccumulatedLosses 2023-05-31
Registered number: SC630597
Joizi Ltd
Unaudited Financial Statements
For The Year Ended 31 May 2024
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—6
Page 1
Balance Sheet
Registered number: SC630597
2024 2023
Notes £ £ £ £
FIXED ASSETS
Intangible Assets 4 1,843 452
Tangible Assets 5 818 1,519
2,661 1,971
CURRENT ASSETS
Stocks 6 55,564 18,436
Debtors 7 18,258 66,201
Cash at bank and in hand 24,701 100,451
98,523 185,088
Creditors: Amounts Falling Due Within One Year 8 (84,985 ) (91,358 )
NET CURRENT ASSETS (LIABILITIES) 13,538 93,730
TOTAL ASSETS LESS CURRENT LIABILITIES 16,199 95,701
Creditors: Amounts Falling Due After More Than One Year 9 (77,539 ) (100,726 )
NET LIABILITIES (61,340 ) (5,025 )
CAPITAL AND RESERVES
Called up share capital 10 100 100
Profit and Loss Account (61,440 ) (5,125 )
SHAREHOLDERS' FUNDS (61,340) (5,025)
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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.
On behalf of the board
Mrs J Rodrigues
Director
Ms M White
Director
18/02/2025
The notes on pages 3 to 6 form part of these financial statements.
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Notes to the Financial Statements
1. General Information
Joizi Ltd is a private company, limited by shares, incorporated in Scotland, registered number SC630597 . The registered office is 5 South Charlotte Street, Edinburgh, Midlothian, EH2 4AN.
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. Going Concern Disclosure
The directors have not identified any material uncertainties related to events or conditions that may cast significant doubt about the company's ability to continue as a going concern.
2.3. 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.
2.4. Intangible Fixed Assets and Amortisation - Other Intangible
Other intangible assets are measured at cost less amortisation. They are amortised to profit and loss account over their estimated economic life of 4 years.
2.5. 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:
Computer Equipment 25% straight line
2.6. 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.
2.7. 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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2.8. 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.
2.9. Government Grant
Government grants are recognised in the profit and loss account in an appropriate manner that matches them with the expenditure towards which they are intended to contribute.
Grants for immediate financial support or to cover costs already incurred are recognised immediately in the profit and loss account. Grants towards general activities of the entity over a specific period are recognised in the profit and loss account over that period.
Grants towards fixed assets are recognised over the expected useful lives of the related assets and are treated as deferred income and released to the profit and loss account over the useful life of the asset concerned.
All grants in the profit and loss account are recognised when all conditions for receipt have been complied with.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 2 (2023: 3)
2 3
4. Intangible Assets
Other
£
Cost
As at 1 June 2023 480
Additions 1,512
As at 31 May 2024 1,992
Amortisation
As at 1 June 2023 28
Provided during the period 121
As at 31 May 2024 149
Net Book Value
As at 31 May 2024 1,843
As at 1 June 2023 452
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5. Tangible Assets
Computer Equipment
£
Cost
As at 1 June 2023 3,507
As at 31 May 2024 3,507
Depreciation
As at 1 June 2023 1,988
Provided during the period 701
As at 31 May 2024 2,689
Net Book Value
As at 31 May 2024 818
As at 1 June 2023 1,519
6. Stocks
2024 2023
£ £
Finished goods 55,564 18,436
7. Debtors
2024 2023
£ £
Due within one year
Prepayments and accrued income 1,145 60,135
Other debtors 1,841 634
Corporation tax recoverable assets 2,145 572
VAT 4,659 3,067
Directors' loan accounts 8,468 1,793
18,258 66,201
8. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 27,293 35,584
Bank loans and overdrafts 35,802 46,155
Corporation tax 2,145 581
Other taxes and social security 1,479 1,828
Other creditors 17,473 6,449
Accruals and deferred income 793 761
84,985 91,358
9. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Bank loans 77,539 100,726
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10. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 100 100
11. Directors Advances, Credits and Guarantees
Included within Debtors are the following loans to directors:
As at 1 June 2023 Amounts advanced Amounts repaid Amounts written off As at 31 May 2024
£ £ £ £ £
Mrs Justyna Rodrigues (840 ) 30,759 (25,927 ) - 3,992
Ms Marianne White 2,633 2,510 (668 ) - 4,475
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