Acorah Software Products - Accounts Production 16.1.300 false true 31 July 2023 1 August 2022 false 1 August 2023 31 July 2024 31 July 2024 SC132654 Mr H Diack Mrs B A Diack Mrs B A Diack iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure SC132654 2023-07-31 SC132654 2024-07-31 SC132654 2023-08-01 2024-07-31 SC132654 frs-core:CurrentFinancialInstruments 2024-07-31 SC132654 frs-core:FurnitureFittings 2024-07-31 SC132654 frs-core:FurnitureFittings 2023-08-01 2024-07-31 SC132654 frs-core:FurnitureFittings 2023-07-31 SC132654 frs-core:ShareCapital 2024-07-31 SC132654 frs-core:RetainedEarningsAccumulatedLosses 2024-07-31 SC132654 frs-bus:PrivateLimitedCompanyLtd 2023-08-01 2024-07-31 SC132654 frs-bus:FilletedAccounts 2023-08-01 2024-07-31 SC132654 frs-bus:SmallEntities 2023-08-01 2024-07-31 SC132654 frs-bus:AuditExempt-NoAccountantsReport 2023-08-01 2024-07-31 SC132654 frs-bus:SmallCompaniesRegimeForAccounts 2023-08-01 2024-07-31 SC132654 frs-core:FurtherSpecificReserve1ComponentTotalEquity 2024-07-31 SC132654 frs-bus:Director1 2023-08-01 2024-07-31 SC132654 frs-bus:Director2 2023-08-01 2024-07-31 SC132654 frs-bus:CompanySecretary1 2023-08-01 2024-07-31 SC132654 frs-countries:Scotland 2023-08-01 2024-07-31 SC132654 2022-07-31 SC132654 2023-07-31 SC132654 2022-08-01 2023-07-31 SC132654 frs-core:CurrentFinancialInstruments 2023-07-31 SC132654 frs-core:ShareCapital 2023-07-31 SC132654 frs-core:RetainedEarningsAccumulatedLosses 2023-07-31 SC132654 frs-core:FurtherSpecificReserve1ComponentTotalEquity 2023-07-31
Registered number: SC132654
Babylon Associates Limited
Unaudited Financial Statements
For The Year Ended 31 July 2024
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—4
Page 1
Balance Sheet
Registered number: SC132654
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 218 272
Investment Properties 5 140,000 140,000
140,218 140,272
CURRENT ASSETS
Debtors 6 381 533
Cash at bank and in hand 8,321 11,233
8,702 11,766
Creditors: Amounts Falling Due Within One Year 7 (25,784 ) (29,391 )
NET CURRENT ASSETS (LIABILITIES) (17,082 ) (17,625 )
TOTAL ASSETS LESS CURRENT LIABILITIES 123,136 122,647
PROVISIONS FOR LIABILITIES
Deferred Taxation (15,241 ) (15,252 )
NET ASSETS 107,895 107,395
CAPITAL AND RESERVES
Called up share capital 2 2
Fair value reserve 64,800 64,800
Profit and Loss Account 43,093 42,593
SHAREHOLDERS' FUNDS 107,895 107,395
Page 1
Page 2
For the year ending 31 July 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 H Diack
Director
31/03/2025
The notes on pages 3 to 4 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Babylon Associates Limited is a private company, limited by shares, incorporated in Scotland, registered number SC132654 . The registered office is 4 West Craibstone Street, Bon Accord Square, Aberdeen, AB11 6YL.
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 for rental income provided in the normal course of business.
Rental income from investment properties is recognised on a straight line basis over the term of the relevant lease.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost or valuation, less accumulated depreciation and any accumulated impairment losses. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Fixtures & Fittings 20% reducing balance
2.4. Investment Properties
Investment properties are initially recognised at cost. Subsequently it is measured at fair value at each reporting date with any aggregate surplus or deficit arising from changes in fair value recognised in the profit and loss account.
All investment properties are carried at fair value determined annually and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset.
Deferred taxation is provided on any gains at the rate expected to apply when the property is sold.
2.5. Taxation
Taxation comprises of current and deferred tax. Tax is recognised in profit or loss for the year, except to the extent that it relates to items that are recognised in other comprehensive income or directly in equity, in which case the tax is recognised in other comprehensive income or directly in equity.
Current 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
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 and 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.
3. Average Number of Employees
Average number of employees, including directors, during the year was: NIL (2023: NIL)
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Page 4
4. Tangible Assets
Fixtures & Fittings
£
Cost
As at 1 August 2023 3,526
As at 31 July 2024 3,526
Depreciation
As at 1 August 2023 3,254
Provided during the period 54
As at 31 July 2024 3,308
Net Book Value
As at 31 July 2024 218
As at 1 August 2023 272
5. Investment Property
2024
£
Fair Value
As at 1 August 2023 and 31 July 2024 140,000
If investment property had been accounted for under historical cost accounting rules, the amounts would be:
2024 2023
£ £
Cost 60,000 60,000
The fair value of investment properties was valued on an open market basis by the directors.
6. Debtors
2024 2023
£ £
Due within one year
Prepayments and accrued income 381 533
7. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Corporation tax 128 882
Accruals and deferred income - 3,433
Directors' loan accounts 25,656 25,076
25,784 29,391
Page 4