Acorah Software Products - Accounts Production 16.3.350 false true true 30 September 2023 1 October 2022 false 1 October 2023 30 September 2024 30 September 2024 SC209542 Mr John Martin Mrs Sheila Martin true iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure SC209542 2023-09-30 SC209542 2024-09-30 SC209542 2023-10-01 2024-09-30 SC209542 frs-core:CurrentFinancialInstruments 2024-09-30 SC209542 frs-core:ComputerEquipment 2024-09-30 SC209542 frs-core:ComputerEquipment 2023-10-01 2024-09-30 SC209542 frs-core:ComputerEquipment 2023-09-30 SC209542 frs-core:PlantMachinery 2024-09-30 SC209542 frs-core:PlantMachinery 2023-10-01 2024-09-30 SC209542 frs-core:PlantMachinery 2023-09-30 SC209542 frs-core:ShareCapital 2024-09-30 SC209542 frs-core:RetainedEarningsAccumulatedLosses 2024-09-30 SC209542 frs-bus:PrivateLimitedCompanyLtd 2023-10-01 2024-09-30 SC209542 frs-bus:FilletedAccounts 2023-10-01 2024-09-30 SC209542 frs-bus:SmallEntities 2023-10-01 2024-09-30 SC209542 frs-bus:AuditExempt-NoAccountantsReport 2023-10-01 2024-09-30 SC209542 frs-bus:SmallCompaniesRegimeForAccounts 2023-10-01 2024-09-30 SC209542 1 2023-10-01 2024-09-30 SC209542 frs-core:FurtherSpecificReserve1ComponentTotalEquity 2023-09-30 SC209542 frs-core:FurtherSpecificReserve1ComponentTotalEquity 2024-09-30 SC209542 frs-bus:Director1 2023-10-01 2024-09-30 SC209542 frs-bus:Director2 2023-10-01 2024-09-30 SC209542 frs-countries:Scotland 2023-10-01 2024-09-30 SC209542 2022-09-30 SC209542 2023-09-30 SC209542 2022-10-01 2023-09-30 SC209542 frs-core:CurrentFinancialInstruments 2023-09-30 SC209542 frs-core:ShareCapital 2023-09-30 SC209542 frs-core:RetainedEarningsAccumulatedLosses 2023-09-30 SC209542 frs-core:FurtherSpecificReserve1ComponentTotalEquity 2023-09-30
Registered number: SC209542
Integrated Marine Solutions Limited
Unaudited Financial Statements
For The Year Ended 30 September 2024
Contents
Page
Statement of Financial Position 1
Notes to the Financial Statements 2—5
Page 1
Statement of Financial Position
Registered number: SC209542
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 1,124 -
Investment Properties 5 855,000 855,000
856,124 855,000
CURRENT ASSETS
Debtors 6 19,261 19,388
Cash at bank and in hand 65,896 39,265
85,157 58,653
Creditors: Amounts Falling Due Within One Year 7 (26,907 ) (28,920 )
NET CURRENT ASSETS (LIABILITIES) 58,250 29,733
TOTAL ASSETS LESS CURRENT LIABILITIES 914,374 884,733
NET ASSETS 914,374 884,733
CAPITAL AND RESERVES
Called up share capital 9 1,000 1,000
Fair value reserve 12 98,433 98,433
Income Statement 814,941 785,300
SHAREHOLDERS' FUNDS 914,374 884,733
For the year ending 30 September 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 Income Statement.
On behalf of the board
Mr John Martin
Director
08/05/2025
The notes on pages 2 to 5 form part of these financial statements.
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Page 2
Notes to the Financial Statements
1. General Information
Integrated Marine Solutions Limited is a private company, limited by shares, incorporated in Scotland, registered number SC209542 . The registered office is 35 Angusfield Avenue, Aberdeen, Aberdeenshire, AB15 6AR.
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 have not identified any material uncertainties related to events or conditions that may cast significant doubt about the company's ability to continue as a going concern.
2.3. Turnover
Turnover is the amount derived from ordinary activities and is comprised of rental income on the investment property. Turnover is measured at the fair value of the consideration received or receivable and is stated net of VAT.

Revenue from rentals is recognised in the period to which the rentals received relates to.

2.4. Tangible Fixed Assets and Depreciation
Tangible fixed assets are stated at cost less depreciation. 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 25% straight line
Computer Equipment 25% straight line
2.5. Investment Properties
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. No depreciation is provided for. Changes in fair value are recognised in the income statement.
2.6. 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 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.
2.7. Borrowing costs
All borrowing costs are recognised in profit or loss in the period in which they are incurred.
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Page 3
2.8. Leases
Rental income from operating leases is recognised on a straight line basis over the term of the relevant
lease. Initial direct costs incurred in negotiating and arranging an operating lease are added to the carrying
amount of the leased asset and recognised on a straight line basis over the lease term.
3. Average Number of Employees
Average number of employees, including directors, during the year was:
2024 2023
Office and administration 2 2
2 2
4. Tangible Assets
Plant & Machinery Computer Equipment Total
£ £ £
Cost or Valuation
As at 1 October 2023 20,486 - 20,486
Additions - 1,498 1,498
Disposals (5,587 ) - (5,587 )
As at 30 September 2024 14,899 1,498 16,397
Depreciation
As at 1 October 2023 20,486 - 20,486
Provided during the period - 374 374
Disposals (5,587 ) - (5,587 )
As at 30 September 2024 14,899 374 15,273
Net Book Value
As at 30 September 2024 - 1,124 1,124
As at 1 October 2023 - - -
The investment properties were purchased on 12 February 2007, 15 December 2010 and 24 September 2013. The fair values of the properties at 30 September 2024 has been arrived at on the basis of a valuation carried out by Shepherd Chartered Surveyors who are professionally qualified valuers.
The valuations were were arrived at by reference to market evidence of transaction prices for similar properties in their location and takes into account the depressed state of the rental market in the areas where the properties are situated. The historic cost of the investment property was £953,433 (2023: £953,433).
5. Investment Property
2024
£
Fair Value
As at 1 October 2023 and 30 September 2024 855,000
If investment property had been accounted for under historical cost accounting rules, the amounts would be:
2024 2023
£ £
Cost 953,432 953,432
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Page 4
6. Debtors
2024 2023
£ £
Due within one year
Trade debtors 559 686
Deferred tax current asset 18,702 18,702
19,261 19,388
7. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Corporation tax 8,759 7,267
Other taxes and social security 1,820 390
VAT 3,178 3,046
Net wages - 1,560
Other creditors 16 24
Accruals and deferred income 10,322 16,633
Directors' loan accounts 2,812 -
26,907 28,920
8. Secured Creditors
Of the creditors falling due within and after more than one year the following amounts are secured against the properties to which they relate. The bank has a floating charge over the company's assets to secure the bank loan.
9. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 1,000 1,000
10. Directors Advances, Credits and Guarantees
Dividends paid to directors
2024 2023
£ £
Mr John Martin 4,000 4,500
Mrs Sheila Martin 4,000 4,500
11. Dividends
2024 2023
£ £
On equity shares:
Interim dividend paid 8,000 9,000
12. Reserves
Fair Value Reserve
£
As at 1 October 2023 98,433
As at 30 September 2024 98,433
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Page 5
13. Ultimate Controlling Party
The company's ultimate controlling party is directors by virtue of their ownership of 98% of the issued share capital in the company.
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