Acorah Software Products - Accounts Production 16.2.800 false true 31 December 2023 1 January 2023 false 1 January 2024 31 December 2024 31 December 2024 SC187145 Mr Ian Hannah Mr Kenneth Hannah Ms Karen MacKenzie Ian Hannah and Kenneth Hannah false iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure SC187145 2023-12-31 SC187145 2024-12-31 SC187145 2024-01-01 2024-12-31 SC187145 frs-core:CurrentFinancialInstruments 2024-12-31 SC187145 frs-core:Non-currentFinancialInstruments 2024-12-31 SC187145 frs-core:ComputerEquipment 2024-12-31 SC187145 frs-core:ComputerEquipment 2024-01-01 2024-12-31 SC187145 frs-core:ComputerEquipment 2023-12-31 SC187145 frs-core:FurnitureFittings 2024-12-31 SC187145 frs-core:FurnitureFittings 2024-01-01 2024-12-31 SC187145 frs-core:FurnitureFittings 2023-12-31 SC187145 frs-core:NetGoodwill 2024-12-31 SC187145 frs-core:NetGoodwill 2024-01-01 2024-12-31 SC187145 frs-core:NetGoodwill 2023-12-31 SC187145 frs-core:ShareCapital 2024-12-31 SC187145 frs-core:RetainedEarningsAccumulatedLosses 2024-12-31 SC187145 frs-bus:PrivateLimitedCompanyLtd 2024-01-01 2024-12-31 SC187145 frs-bus:FilletedAccounts 2024-01-01 2024-12-31 SC187145 frs-bus:SmallEntities 2024-01-01 2024-12-31 SC187145 frs-bus:AuditExemptWithAccountantsReport 2024-01-01 2024-12-31 SC187145 frs-bus:SmallCompaniesRegimeForAccounts 2024-01-01 2024-12-31 SC187145 1 2024-01-01 2024-12-31 SC187145 frs-bus:Director1 2024-01-01 2024-12-31 SC187145 frs-bus:Director1 2023-12-31 SC187145 frs-bus:Director1 2024-12-31 SC187145 frs-bus:Director2 2024-01-01 2024-12-31 SC187145 frs-bus:Director2 2023-12-31 SC187145 frs-bus:Director2 2024-12-31 SC187145 frs-bus:Director3 2024-01-01 2024-12-31 SC187145 frs-countries:Scotland 2024-01-01 2024-12-31 SC187145 2022-12-31 SC187145 2023-12-31 SC187145 2023-01-01 2023-12-31 SC187145 frs-core:CurrentFinancialInstruments 2023-12-31 SC187145 frs-core:Non-currentFinancialInstruments 2023-12-31 SC187145 frs-core:ShareCapital 2023-12-31 SC187145 frs-core:RetainedEarningsAccumulatedLosses 2023-12-31
Registered number: SC187145
Sqmc Ltd.
Financial Statements
For The Year Ended 31 December 2024
Gillespie's Fife
Contents
Page
Accountants' Report 1
Balance Sheet 2—3
Notes to the Financial Statements 4—7
Page 1
Accountants' Report
Chartered Accountants' report to the directors on the preparation of the unaudited statutory accounts of Sqmc Ltd. for the year ended 31 December 2024
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Sqmc Ltd. for the year ended 31 December 2024 which comprise the Profit and Loss Account, the Balance Sheet and the related notes from the company's accounting records and from information and explanations you have given to us.
As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at http://www.icaew.com/en/membership/regulations-standards-and-guidance.
This report is made solely to the directors of Sqmc Ltd. , as a body, in accordance with the terms of our engagement letter dated 11 March 2015. Our work has been undertaken solely to prepare for your approval the accounts of Sqmc Ltd. and state those matters that we have agreed to state to the directors of Sqmc Ltd. , as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Sqmc Ltd. and its directors, as a body, for our work or for this report.
It is your duty to ensure that Sqmc Ltd. has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit or loss of Sqmc Ltd. . You consider that Sqmc Ltd. is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit of the accounts of Sqmc Ltd. . For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the financial statements.
Signed
4th April 2025
Gillespie's Fife
Accountants
Fric Ajax Way
Methil
Leven
KY8 3RS
Page 1
Page 2
Balance Sheet
Registered number: SC187145
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 5 1,396 1,267
1,396 1,267
CURRENT ASSETS
Debtors 6 17,057 28,146
Cash at bank and in hand 92,526 79,494
109,583 107,640
Creditors: Amounts Falling Due Within One Year 7 (70,768 ) (76,795 )
NET CURRENT ASSETS (LIABILITIES) 38,815 30,845
TOTAL ASSETS LESS CURRENT LIABILITIES 40,211 32,112
Creditors: Amounts Falling Due After More Than One Year 8 (11,498 ) (21,353 )
PROVISIONS FOR LIABILITIES
Deferred Taxation (265 ) (241 )
NET ASSETS 28,448 10,518
CAPITAL AND RESERVES
Called up share capital 9 1,000 1,000
Profit and Loss Account 27,448 9,518
SHAREHOLDERS' FUNDS 28,448 10,518
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For the year ending 31 December 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 Ian Hannah
Director
4th April 2025
The notes on pages 4 to 7 form part of these financial statements.
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Notes to the Financial Statements
1. General Information
Sqmc Ltd. is a private company, limited by shares, incorporated in Scotland, registered number SC187145 . The registered office is Alba House, 67 Upper Kinneddar, Saline, Dunfermline, Fife, KY12 9TR.
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.
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. 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 20 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:
Fixtures & Fittings 20% Reducing Balance
Computer Equipment 33% Reducing Balance
2.5. Taxation
Corporation 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.
2.6. Pensions
The company operates a defined pension contribution scheme. Contributions are charged to the profit and loss account as they become payable in accordance with the rules of the scheme.
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3. Average Number of Employees
Average number of employees, including directors, during the year was as follows:
2024 2023
Office and administration 1 1
1 1
4. Intangible Assets
Goodwill
£
Cost
As at 1 January 2024 8,000
As at 31 December 2024 8,000
Amortisation
As at 1 January 2024 8,000
As at 31 December 2024 8,000
Net Book Value
As at 31 December 2024 -
As at 1 January 2024 -
5. Tangible Assets
Fixtures & Fittings Computer Equipment Total
£ £ £
Cost
As at 1 January 2024 398 17,963 18,361
Additions - 1,010 1,010
Disposals - (15,713 ) (15,713 )
As at 31 December 2024 398 3,260 3,658
Depreciation
As at 1 January 2024 398 16,696 17,094
Provided during the period - 687 687
Disposals - (15,519 ) (15,519 )
As at 31 December 2024 398 1,864 2,262
Net Book Value
As at 31 December 2024 - 1,396 1,396
As at 1 January 2024 - 1,267 1,267
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6. Debtors
2024 2023
£ £
Due within one year
Trade debtors 13,976 23,930
Prepayments and accrued income 3,079 4,216
Other taxes and social security 2 -
17,057 28,146
7. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 10,411 12,534
Bank loans and overdrafts 9,855 9,855
Corporation tax 7,252 -
Other taxes and social security - 5,677
VAT 7,204 9,122
Other creditors 1,799 1,799
Accruals and deferred income 20,785 24,346
Directors' loan accounts 13,462 13,462
70,768 76,795
8. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Bank loans 11,498 21,353
9. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 1,000 1,000
10. Directors Advances, Credits and Guarantees
Included within Creditors are the following loans from directors:
As at 1 January 2024 Amounts advanced Amounts repaid Amounts written off As at 31 December 2024
£ £ £ £ £
Mr Ian Hannah 7,156 - - - 7,156
Mr Kenneth Hannah 6,306 - - - 6,306
The above loans are unsecured, interest free and repayable on demand.
11. Related Party Transactions
Purchases of £20,585 were made from Kartik Consultants Limited, of which Karen MacKenzie is a Director.
Trade creditors includes £1,443 due to Kartik Consultants Limited at the year end.
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12. Controlling Party
The company's controlling party is Ian Hannah and Kenneth Hannah by virtue of their ownership of 55% of the issued share capital in the company.
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