Acorah Software Products - Accounts Production 16.3.350 false true 31 December 2023 1 January 2023 false 1 January 2024 31 December 2024 31 December 2024 09364303 Ms Claire Francis Mrs Hannah May Mr John Studley iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 09364303 2023-12-31 09364303 2024-12-31 09364303 2024-01-01 2024-12-31 09364303 frs-core:CurrentFinancialInstruments 2024-12-31 09364303 frs-core:Non-currentFinancialInstruments 2024-12-31 09364303 frs-core:ComputerEquipment 2024-12-31 09364303 frs-core:ComputerEquipment 2024-01-01 2024-12-31 09364303 frs-core:ComputerEquipment 2023-12-31 09364303 frs-core:FurnitureFittings 2024-12-31 09364303 frs-core:FurnitureFittings 2024-01-01 2024-12-31 09364303 frs-core:FurnitureFittings 2023-12-31 09364303 frs-core:NetGoodwill 2024-12-31 09364303 frs-core:NetGoodwill 2024-01-01 2024-12-31 09364303 frs-core:NetGoodwill 2023-12-31 09364303 frs-core:PlantMachinery 2024-12-31 09364303 frs-core:PlantMachinery 2024-01-01 2024-12-31 09364303 frs-core:PlantMachinery 2023-12-31 09364303 frs-core:CapitalRedemptionReserve 2024-12-31 09364303 frs-core:ShareCapital 2024-12-31 09364303 frs-core:RetainedEarningsAccumulatedLosses 2024-12-31 09364303 frs-bus:PrivateLimitedCompanyLtd 2024-01-01 2024-12-31 09364303 frs-bus:FilletedAccounts 2024-01-01 2024-12-31 09364303 frs-bus:SmallEntities 2024-01-01 2024-12-31 09364303 frs-bus:AuditExempt-NoAccountantsReport 2024-01-01 2024-12-31 09364303 frs-bus:SmallCompaniesRegimeForAccounts 2024-01-01 2024-12-31 09364303 frs-bus:Director1 2024-01-01 2024-12-31 09364303 frs-bus:Director2 2024-01-01 2024-12-31 09364303 frs-bus:Director3 2024-01-01 2024-12-31 09364303 frs-countries:EnglandWales 2024-01-01 2024-12-31 09364303 2022-12-31 09364303 2023-12-31 09364303 2023-01-01 2023-12-31 09364303 frs-core:CurrentFinancialInstruments 2023-12-31 09364303 frs-core:Non-currentFinancialInstruments 2023-12-31 09364303 frs-core:CapitalRedemptionReserve 2023-12-31 09364303 frs-core:ShareCapital 2023-12-31 09364303 frs-core:RetainedEarningsAccumulatedLosses 2023-12-31
Registered number: 09364303
Scientific Update Limited
Unaudited Financial Statements
For The Year Ended 31 December 2024
Naylor Accountancy Services Limited
16 Mount Pleasant Road
Tunbridge Wells
Kent
TN1 1QU
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 09364303
2024 2023
Notes £ £ £ £
FIXED ASSETS
Intangible Assets 4 - 9,154
Tangible Assets 5 5,670 7,766
5,670 16,920
CURRENT ASSETS
Debtors 6 325,845 456,847
Cash at bank and in hand 697,829 574,498
1,023,674 1,031,345
Creditors: Amounts Falling Due Within One Year 7 (642,416 ) (614,657 )
NET CURRENT ASSETS (LIABILITIES) 381,258 416,688
TOTAL ASSETS LESS CURRENT LIABILITIES 386,928 433,608
Creditors: Amounts Falling Due After More Than One Year 8 - (11,500 )
NET ASSETS 386,928 422,108
CAPITAL AND RESERVES
Called up share capital 9 5 5
Capital redemption reserve 2 2
Profit and Loss Account 386,921 422,101
SHAREHOLDERS' FUNDS 386,928 422,108
Page 1
Page 2
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
Ms Claire Francis
Director
Mrs Hannah May
Director
14th May 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
Scientific Update Limited is a private company, limited by shares, incorporated in England & Wales, registered number 09364303 . The registered office is Pine Grove Enterprise Centre, Pine Grove, Crowborough, TN6 1DH.
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.
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.
2.3. Intangible Fixed Assets and Amortisation - Goodwill
Goodwill represents the excess of the cost of acquisition of unincorporated business over the fair value of net assets acquired. It is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is considered to have a finite useful life and is amortised on a systematic basis over its expected life, which is estimated to be ten 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% straight line
Fixtures & Fittings 20% straight line
Computer Equipment 20% straight line
2.5. Financial Instruments
The company only has financial instruments which are classified as basic financial instruments.
Short-term debtors and creditors are measured at the settlement value. Any losses from impairment are recognised in the profit and loss account.
2.6. Foreign Currencies
Transactions in currencies other than pounds sterling are recorded at the rates of exchange prevailing at the dates of the transactions. At each reporting end date, monetary assets and liabilities that are denominated in foreign currencies are retranslated at the rates prevailing on the reporting end date. Gains and losses arising on translation in the period are included in profit or loss.
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: 7 (2023: 5)
7 5
4. Intangible Assets
Goodwill
£
Cost
As at 1 January 2024 91,523
As at 31 December 2024 91,523
Amortisation
As at 1 January 2024 82,369
Provided during the period 9,154
As at 31 December 2024 91,523
Net Book Value
As at 31 December 2024 -
As at 1 January 2024 9,154
5. Tangible Assets
Plant & Machinery Fixtures & Fittings Computer Equipment Total
£ £ £ £
Cost
As at 1 January 2024 903 292 17,032 18,227
Additions - - 790 790
As at 31 December 2024 903 292 17,822 19,017
...CONTINUED
Page 4
Page 5
Depreciation
As at 1 January 2024 902 141 9,418 10,461
Provided during the period 1 59 2,826 2,886
As at 31 December 2024 903 200 12,244 13,347
Net Book Value
As at 31 December 2024 - 92 5,578 5,670
As at 1 January 2024 1 151 7,614 7,766
6. Debtors
2024 2023
£ £
Due within one year
Trade debtors 241,620 317,965
Prepayments and accrued income 81,099 126,745
Other debtors 3,126 3,126
VAT - 9,011
325,845 456,847
7. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 28,646 66,002
Bank loans and overdrafts 11,500 11,500
Corporation tax 85,551 114,175
Other taxes and social security 16,247 19,110
VAT 7,314 -
Other creditors 107,136 123,807
Accruals and deferred income 386,022 280,063
642,416 614,657
8. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Bank loans - 11,500
9. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 5 5
Page 5