Acorah Software Products - Accounts Production 16.3.350 false true 29 June 2023 30 June 2022 false 30 June 2023 29 June 2024 29 June 2024 SC398652 Mr Jonathan Paul Farley iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure SC398652 2023-06-29 SC398652 2024-06-29 SC398652 2023-06-30 2024-06-29 SC398652 frs-core:CurrentFinancialInstruments 2024-06-29 SC398652 frs-core:Non-currentFinancialInstruments 2024-06-29 SC398652 frs-core:BetweenOneFiveYears 2024-06-29 SC398652 frs-core:ComputerEquipment 2024-06-29 SC398652 frs-core:ComputerEquipment 2023-06-30 2024-06-29 SC398652 frs-core:ComputerEquipment 2023-06-29 SC398652 frs-core:NetGoodwill 2024-06-29 SC398652 frs-core:NetGoodwill 2023-06-30 2024-06-29 SC398652 frs-core:NetGoodwill 2023-06-29 SC398652 frs-core:MotorVehicles 2024-06-29 SC398652 frs-core:MotorVehicles 2023-06-30 2024-06-29 SC398652 frs-core:MotorVehicles 2023-06-29 SC398652 frs-core:WithinOneYear 2024-06-29 SC398652 frs-core:SharePremium 2024-06-29 SC398652 frs-core:ShareCapital 2024-06-29 SC398652 frs-core:RetainedEarningsAccumulatedLosses 2024-06-29 SC398652 frs-bus:PrivateLimitedCompanyLtd 2023-06-30 2024-06-29 SC398652 frs-bus:FilletedAccounts 2023-06-30 2024-06-29 SC398652 frs-bus:SmallEntities 2023-06-30 2024-06-29 SC398652 frs-bus:AuditExempt-NoAccountantsReport 2023-06-30 2024-06-29 SC398652 frs-bus:SmallCompaniesRegimeForAccounts 2023-06-30 2024-06-29 SC398652 frs-bus:Director1 2023-06-30 2024-06-29 SC398652 frs-countries:Scotland 2023-06-30 2024-06-29 SC398652 2022-06-29 SC398652 2023-06-29 SC398652 2022-06-30 2023-06-29 SC398652 frs-core:CurrentFinancialInstruments 2023-06-29 SC398652 frs-core:Non-currentFinancialInstruments 2023-06-29 SC398652 frs-core:BetweenOneFiveYears 2023-06-29 SC398652 frs-core:WithinOneYear 2023-06-29 SC398652 frs-core:SharePremium 2023-06-29 SC398652 frs-core:ShareCapital 2023-06-29 SC398652 frs-core:RetainedEarningsAccumulatedLosses 2023-06-29
Registered number: SC398652
Shirtbyhand (UK) Ltd.
Financial Statements
For The Year Ended 29 June 2024
Precision Accountants and Business Advisors Ltd
Financial Statements
Contents
Page
Statement of Financial Position 1—2
Notes to the Financial Statements 3—6
Page 1
Statement of Financial Position
Registered number: SC398652
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 29,632 37,040
29,632 37,040
CURRENT ASSETS
Debtors 5 11,373 11,373
Cash at bank and in hand 5,673 2,288
17,046 13,661
Creditors: Amounts Falling Due Within One Year 6 (18,532 ) (18,639 )
NET CURRENT ASSETS (LIABILITIES) (1,486 ) (4,978 )
TOTAL ASSETS LESS CURRENT LIABILITIES 28,146 32,062
Creditors: Amounts Falling Due After More Than One Year 7 (66,825 ) (62,586 )
PROVISIONS FOR LIABILITIES
Deferred Taxation (5,630 ) (7,038 )
NET LIABILITIES (44,309 ) (37,562 )
CAPITAL AND RESERVES
Called up share capital 9 100 100
Share premium account 4,975 4,975
Income Statement (49,384 ) (42,637 )
SHAREHOLDERS' FUNDS (44,309) (37,562)
Page 1
Page 2
For the year ending 29 June 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his 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 Jonathan Paul Farley
Director
25/06/2025
The notes on pages 3 to 6 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. Accounting Policies
1.1. 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.
The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
1.2. Turnover
Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.
When cash inflows are deferred and represent a financing arrangement, the fair value of the consideration is the present value of the future receipts. The difference between the fair value of the consideration and the nominal amount received is recognised as interest income.
Revenue from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have passed to the buyer (usually on dispatch of the goods), the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the entity and the costs incurred or to be incurred in respect of the transaction can be measured reliably.
Revenue from contracts for the provision of professional services is recognised by reference to the stage of completion when the stage of completion, costs incurred and costs to complete can be estimated reliably. The stage of completion is calculated by comparing costs incurred, mainly in relation to contractual hourly staff rates and materials, as a proportion of total costs. Where the outcome cannot be estimated reliably, revenue is recognised only to the extent of the expenses recognised that it is probable will be recovered.
1.3. Intangible Fixed Assets and Amortisation - Goodwill
Goodwill represents the excess of the cost of acquisition of unincorporated businesses 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 10 years.
For the purposes of impairment testing, goodwill is allocated to the cash-generating units expected to benefit from the acquisition. Cash-generating units to which goodwill has been allocated are tested for impairment at least annually, or more frequently when there is an indication that the unit may be impaired. If the recoverable amount of the cashgenerating unit is less than the carrying amount of the unit, the impairment loss is allocated first to reduce the carrying amount of any goodwill allocated to the unit and then to the other assets of the unit pro-rata on the basis of the carrying amount of each asset in the unit.
1.4. 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:
Motor Vehicles 20% Reducing balance
Computer Equipment 33.33% Straight Line
1.5. 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 income statement 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 income statement as incurred.
Page 3
Page 4
1.6. Financial Instruments
The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.
Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.
Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.
Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.
Classification of financial liabilities
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.
Basic financial liabilities
Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.
Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.
1.7. 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.
2. Average Number of Employees
Average number of employees, including directors, during the year was as follows: 1 (2023: 1)
1 1
Page 4
Page 5
3. Intangible Assets
Goodwill
£
Cost
As at 30 June 2023 7,145
As at 29 June 2024 7,145
Amortisation
As at 30 June 2023 7,145
As at 29 June 2024 7,145
Net Book Value
As at 29 June 2024 -
As at 30 June 2023 -
4. Tangible Assets
Motor Vehicles Computer Equipment Total
£ £ £
Cost
As at 30 June 2023 46,300 764 47,064
As at 29 June 2024 46,300 764 47,064
Depreciation
As at 30 June 2023 9,260 764 10,024
Provided during the period 7,408 - 7,408
As at 29 June 2024 16,668 764 17,432
Net Book Value
As at 29 June 2024 29,632 - 29,632
As at 30 June 2023 37,040 - 37,040
5. Debtors
2024 2023
£ £
Due within one year
Amounts owed by group undertakings 612 612
Other debtors 10,761 10,761
11,373 11,373
Page 5
Page 6
6. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Net obligations under finance lease and hire purchase contracts 5,677 4,964
Trade creditors - 1
Bank loans and overdrafts 3,795 3,748
Other creditors 4,708 3,024
Taxation and social security 4,352 6,902
18,532 18,639
7. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Net obligations under finance lease and hire purchase contracts 27,115 32,791
Bank loans 5,862 7,772
Other creditors 33,848 22,023
66,825 62,586
8. Obligations Under Finance Leases and Hire Purchase
2024 2023
£ £
The maturity of these amounts is as follows:
Within one year 5,677 4,964
Between one and five years 27,115 32,791
32,792 37,755
32,792 37,755
9. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 100 100
10. General Information
Shirtbyhand (UK) Ltd. is a private company, limited by shares, incorporated in Scotland, registered number SC398652 . The registered office is 44 Quakerfield, Bannockburn, Stirling, FK7 8HZ.
Page 6