Acorah Software Products - Accounts Production 16.1.300 false true true 31 March 2023 1 April 2022 false 1 April 2023 31 March 2024 31 March 2024 SC204571 Mr Gregory Lavelle Mrs Julia Lavelle Mrs Julia Lavelle true iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure SC204571 2023-03-31 SC204571 2024-03-31 SC204571 2023-04-01 2024-03-31 SC204571 frs-core:CurrentFinancialInstruments 2024-03-31 SC204571 frs-core:Non-currentFinancialInstruments 2024-03-31 SC204571 frs-core:BetweenOneFiveYears 2024-03-31 SC204571 frs-core:ComputerEquipment 2024-03-31 SC204571 frs-core:ComputerEquipment 2023-04-01 2024-03-31 SC204571 frs-core:ComputerEquipment 2023-03-31 SC204571 frs-core:DevelopmentCostsCapitalisedDevelopmentExpenditure 2024-03-31 SC204571 frs-core:DevelopmentCostsCapitalisedDevelopmentExpenditure 2023-04-01 2024-03-31 SC204571 frs-core:DevelopmentCostsCapitalisedDevelopmentExpenditure 2023-03-31 SC204571 frs-core:FurnitureFittings 2024-03-31 SC204571 frs-core:FurnitureFittings 2023-04-01 2024-03-31 SC204571 frs-core:FurnitureFittings 2023-03-31 SC204571 frs-core:MotorVehicles 2024-03-31 SC204571 frs-core:MotorVehicles 2023-04-01 2024-03-31 SC204571 frs-core:MotorVehicles 2023-03-31 SC204571 frs-core:WithinOneYear 2024-03-31 SC204571 frs-core:ShareCapital 2024-03-31 SC204571 frs-core:RetainedEarningsAccumulatedLosses 2024-03-31 SC204571 frs-bus:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 SC204571 frs-bus:FilletedAccounts 2023-04-01 2024-03-31 SC204571 frs-bus:SmallEntities 2023-04-01 2024-03-31 SC204571 frs-bus:AuditExempt-NoAccountantsReport 2023-04-01 2024-03-31 SC204571 frs-bus:SmallCompaniesRegimeForAccounts 2023-04-01 2024-03-31 SC204571 1 2023-04-01 2024-03-31 SC204571 frs-bus:Director1 2023-04-01 2024-03-31 SC204571 frs-bus:Director2 2023-04-01 2024-03-31 SC204571 frs-bus:CompanySecretary1 2023-04-01 2024-03-31 SC204571 frs-countries:Scotland 2023-04-01 2024-03-31 SC204571 2022-03-31 SC204571 2023-03-31 SC204571 2022-04-01 2023-03-31 SC204571 frs-core:CurrentFinancialInstruments 2023-03-31 SC204571 frs-core:Non-currentFinancialInstruments 2023-03-31 SC204571 frs-core:BetweenOneFiveYears 2023-03-31 SC204571 frs-core:WithinOneYear 2023-03-31 SC204571 frs-core:ShareCapital 2023-03-31 SC204571 frs-core:RetainedEarningsAccumulatedLosses 2023-03-31
Registered number: SC204571
Etellect Ltd.
Unaudited Financial Statements
For The Year Ended 31 March 2024
Ashton McGill
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—6
Page 1
Balance Sheet
Registered number: SC204571
2024 2023
Notes £ £ £ £
FIXED ASSETS
Intangible Assets 4 255,497 260,343
Tangible Assets 5 139,229 170,097
394,726 430,440
CURRENT ASSETS
Debtors 6 250,193 131,929
Cash at bank and in hand 28,453 2,876
278,646 134,805
Creditors: Amounts Falling Due Within One Year 7 (240,992 ) (193,003 )
NET CURRENT ASSETS (LIABILITIES) 37,654 (58,198 )
TOTAL ASSETS LESS CURRENT LIABILITIES 432,380 372,242
Creditors: Amounts Falling Due After More Than One Year 8 (131,429 ) (136,222 )
PROVISIONS FOR LIABILITIES
Deferred Taxation (98,951 ) (59,257 )
NET ASSETS 202,000 176,763
CAPITAL AND RESERVES
Called up share capital 10 100 100
Profit and Loss Account 201,900 176,663
SHAREHOLDERS' FUNDS 202,000 176,763
Page 1
Page 2
For the year ending 31 March 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
Mr Gregory Lavelle
Director
11/03/2025
The notes on pages 3 to 6 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Etellect Ltd. is a private company, limited by shares, incorporated in Scotland, registered number SC204571 . The registered office is Merlin House Mossland Road, Hillington Park, Glasgow, G52 4XZ.
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 believe that the company is experiencing good levels of sales growth and profitability, and that it is well placed to manage its business risks successfully. Accordingly they have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus they continue to adopt the going concern basis of accounting in preparing the financial statements .
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. Research and Development
In the research phase of an internal project it is not possible to demonstrate that the project will generate future economic benefits and hence all expenditure on research is recognised as an expense when it is incurred. Intangible assets are recognised from the development phase of a project if and only if certain specific criteria are met in order to demonstrate the asset will generate probable future economic benefits and that its cost can be reliably measured. The capitalised development costs are subsequently amortised to 20% on a straight line basis over their expected useful economic lives, which range from 1 to 5 years.
If it is not possible to distinguish between the research phase and the development phase of an internal project the expenditure is treated as if it were all incurred in the research phase only.
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:
Motor Vehicles 25% SL
Fixtures & Fittings 33% SL
Computer Equipment 33% SL
2.6. Leasing and Hire Purchase Contracts
Assets obtained under finance leases are capitalised as tangible fixed assets. Assets acquired under finance leases are depreciated over the shorter of the lease term and their useful lives. Assets acquired under hire purchase contracts are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in the creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.

Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to profit and loss account as incurred.
Page 3
Page 4
2.7. 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 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 and deferred tax are recognised in profit or loss for the year, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case current and deferred tax are 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: 3 (2023: 2)
3 2
4. Intangible Assets
Development Costs
£
Cost
As at 1 April 2023 1,141,883
Additions 86,189
As at 31 March 2024 1,228,072
Amortisation
As at 1 April 2023 881,540
Provided during the period 91,035
As at 31 March 2024 972,575
Net Book Value
As at 31 March 2024 255,497
As at 1 April 2023 260,343
Page 4
Page 5
5. Tangible Assets
Motor Vehicles Fixtures & Fittings Computer Equipment Total
£ £ £ £
Cost
As at 1 April 2023 144,180 16,041 98,249 258,470
Additions - 500 28,942 29,442
As at 31 March 2024 144,180 16,541 127,191 287,912
Depreciation
As at 1 April 2023 10,513 8,654 69,206 88,373
Provided during the period 36,045 3,942 20,323 60,310
As at 31 March 2024 46,558 12,596 89,529 148,683
Net Book Value
As at 31 March 2024 97,622 3,945 37,662 139,229
As at 1 April 2023 133,667 7,387 29,043 170,097
6. Debtors
2024 2023
£ £
Due within one year
Trade debtors 55,173 49,832
Prepayments and accrued income 3,010 3,691
Other debtors 52,331 22,035
Corporation tax recoverable assets - 1,634
Other taxes and social security 15 -
Directors' loan accounts 139,664 54,737
250,193 131,929
7. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Net obligations under finance lease and hire purchase contracts 16,110 16,110
Trade creditors 20,005 30,766
Bank loans and overdrafts 87,422 92,636
Corporation tax 79,361 8,054
VAT 23,560 19,204
Net wages - 860
Other creditors - 584
Accruals and deferred income 14,534 24,789
240,992 193,003
Included in creditors due within one year is a bank loan of £19,953 (2023: £56,012). Interest is accrued on the loan on at 13.56% per annum, with the loan secured against the Company's assets and due for repayment in full by September 2024.
Page 5
Page 6
8. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Net obligations under finance lease and hire purchase contracts 80,933 97,043
Bank loans 50,496 39,179
131,429 136,222
Included in creditors due after one year are the following bank loans, which are secured against the company's assets:
£19,931 (2023: £25,910) with interest accrued on the loan at 8% per annum, due for repayment October 2026
£58,919 (2023: £nil) with interest accrued on the loan at 1.62% per annum, due for repayment August 2026
9. Obligations Under Finance Leases and Hire Purchase
2024 2023
£ £
The future minimum finance lease payments are as follows:
Not later than one year 16,110 16,110
Later than one year and not later than five years 80,933 97,043
97,043 113,153
97,043 113,153
10. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 100 100
11. Pension Commitments
The company operates a defined contribution pension scheme and the pension charge represents the amounts payable by the company to the fund in respect of the year. The assets of the scheme are held separately from those of the company in an independently administered fund. At the balance sheet date, unpaid contributions of £0 (2023 – £0) were due to the fund.
12. Ultimate Controlling Party
The ultimate controlling party was Mr G Lavelle, a director and shareholder of the company.
Page 6