Acorah Software Products - Accounts Production 16.1.300 false true 30 November 2023 1 December 2022 false 1 December 2023 30 November 2024 30 November 2024 SC714322 S Wells J Wells iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure SC714322 2023-11-30 SC714322 2024-11-30 SC714322 2023-12-01 2024-11-30 SC714322 frs-core:CurrentFinancialInstruments 2024-11-30 SC714322 frs-core:ComputerEquipment 2024-11-30 SC714322 frs-core:ComputerEquipment 2023-12-01 2024-11-30 SC714322 frs-core:ComputerEquipment 2023-11-30 SC714322 frs-core:NetGoodwill 2024-11-30 SC714322 frs-core:NetGoodwill 2023-12-01 2024-11-30 SC714322 frs-core:NetGoodwill 2023-11-30 SC714322 frs-core:PlantMachinery 2024-11-30 SC714322 frs-core:PlantMachinery 2023-12-01 2024-11-30 SC714322 frs-core:PlantMachinery 2023-11-30 SC714322 frs-core:ShareCapital 2024-11-30 SC714322 frs-core:RetainedEarningsAccumulatedLosses 2024-11-30 SC714322 frs-bus:PrivateLimitedCompanyLtd 2023-12-01 2024-11-30 SC714322 frs-bus:FilletedAccounts 2023-12-01 2024-11-30 SC714322 frs-bus:SmallEntities 2023-12-01 2024-11-30 SC714322 frs-bus:AuditExempt-NoAccountantsReport 2023-12-01 2024-11-30 SC714322 frs-bus:SmallCompaniesRegimeForAccounts 2023-12-01 2024-11-30 SC714322 frs-bus:Director1 2023-12-01 2024-11-30 SC714322 frs-bus:Director2 2023-12-01 2024-11-30 SC714322 frs-countries:Scotland 2023-12-01 2024-11-30 SC714322 2022-11-30 SC714322 2023-11-30 SC714322 2022-12-01 2023-11-30 SC714322 frs-core:CurrentFinancialInstruments 2023-11-30 SC714322 frs-core:ShareCapital 2023-11-30 SC714322 frs-core:RetainedEarningsAccumulatedLosses 2023-11-30
Registered number: SC714322
Mrs Chips Ltd
Unaudited Financial Statements
For The Year Ended 30 November 2024
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: SC714322
2024 2023
Notes £ £ £ £
FIXED ASSETS
Intangible Assets 4 4,600 7,000
Tangible Assets 5 17,221 17,696
21,821 24,696
CURRENT ASSETS
Stocks 1,212 1,113
Debtors 6 3,310 3,414
Cash at bank and in hand 69,349 70,328
73,871 74,855
Creditors: Amounts Falling Due Within One Year 7 (92,917 ) (96,201 )
NET CURRENT ASSETS (LIABILITIES) (19,046 ) (21,346 )
TOTAL ASSETS LESS CURRENT LIABILITIES 2,775 3,350
PROVISIONS FOR LIABILITIES
Deferred Taxation (2,618 ) (3,152 )
NET ASSETS 157 198
CAPITAL AND RESERVES
Called up share capital 8 120 120
Profit and Loss Account 37 78
SHAREHOLDERS' FUNDS 157 198
Page 1
Page 2
For the year ending 30 November 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
S Wells
Director
27/02/2025
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
Mrs Chips Ltd is a private company, limited by shares, incorporated in Scotland, registered number SC714322 . The registered office is 7 Royal Oak Road, Kirkwall, Orkney, KW15 1RF.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements are prepared under the historical cost convention and in accordance with the FRS 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.

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.

2.3. Intangible Fixed Assets and Amortisation - Goodwill
Goodwill is the difference between amounts paid on the acquisition of a business and the fair value of the separable net assets. It is amortised to profit and loss account 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% reducing balance basis
Computer Equipment 20% reducing balance basis
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.
2.6. Financial Instruments
The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ of FRS102 to all of its
financial instruments.
Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.
Financial assets and liabilities are offset, with the net amounts presented in the financial statements,when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.
Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method. Financial assets classified as receivable within one year are not amortised.
Impairment of financial assets
Financial assets are assessed for indicators of impairment at each reporting end date.
Derecognition of financial assets
Financial assets are derecognised only when the contractual rights to the cash flows from the asset expire or are settled, or when the company transfers the financial asset and substantially all the risks and rewards of ownership to another entity.
Classification of financial liabilities
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.
Basic financial liabilities
...CONTINUED
Page 3
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2.6. Financial Instruments - continued
Basic financial liabilities, including trade creditors, are initially recognised at transaction price and are subsequently carried at amortised cost, using the effective interest rate method. Financial liabilities classified as payable within one year are not amortised.
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less.
Derecognition of financial liabilities
Financial liabilities are derecognised when the company’s contractual obligations expire or are discharged or cancelled.
2.7. Taxation
The 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: 4 (2023: 5)
4 5
4. Intangible Assets
Goodwill
£
Cost
As at 1 December 2023 12,000
As at 30 November 2024 12,000
Amortisation
As at 1 December 2023 5,000
Provided during the period 2,400
As at 30 November 2024 7,400
Net Book Value
As at 30 November 2024 4,600
As at 1 December 2023 7,000
Page 4
Page 5
5. Tangible Assets
Plant & Machinery Computer Equipment Total
£ £ £
Cost
As at 1 December 2023 26,773 862 27,635
Additions 3,784 - 3,784
As at 30 November 2024 30,557 862 31,419
Depreciation
As at 1 December 2023 9,671 268 9,939
Provided during the period 4,140 119 4,259
As at 30 November 2024 13,811 387 14,198
Net Book Value
As at 30 November 2024 16,746 475 17,221
As at 1 December 2023 17,102 594 17,696
6. Debtors
2024 2023
£ £
Due within one year
Other debtors 3,310 3,414
7. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 7,807 9,369
Other creditors 73,925 73,410
Taxation and social security 11,185 13,422
92,917 96,201
8. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 120 120
Page 5