Acorah Software Products - Accounts Production 16.3.350 false true 30 September 2023 1 October 2022 false 1 October 2023 30 September 2024 30 September 2024 SC673161 Mrs Margaret Bird Mr Paul Bird iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure SC673161 2023-09-30 SC673161 2024-09-30 SC673161 2023-10-01 2024-09-30 SC673161 frs-core:CurrentFinancialInstruments 2024-09-30 SC673161 frs-core:ComputerEquipment 2024-09-30 SC673161 frs-core:ComputerEquipment 2023-10-01 2024-09-30 SC673161 frs-core:ComputerEquipment 2023-09-30 SC673161 frs-core:FurnitureFittings 2024-09-30 SC673161 frs-core:FurnitureFittings 2023-10-01 2024-09-30 SC673161 frs-core:FurnitureFittings 2023-09-30 SC673161 frs-core:LandBuildings frs-core:LeasedAssetsHeldAsLessee 2024-09-30 SC673161 frs-core:LandBuildings frs-core:LeasedAssetsHeldAsLessee 2023-10-01 2024-09-30 SC673161 frs-core:LandBuildings frs-core:LeasedAssetsHeldAsLessee 2023-09-30 SC673161 frs-core:ShareCapital 2024-09-30 SC673161 frs-core:RetainedEarningsAccumulatedLosses 2024-09-30 SC673161 frs-bus:PrivateLimitedCompanyLtd 2023-10-01 2024-09-30 SC673161 frs-bus:FilletedAccounts 2023-10-01 2024-09-30 SC673161 frs-bus:SmallEntities 2023-10-01 2024-09-30 SC673161 frs-bus:AuditExempt-NoAccountantsReport 2023-10-01 2024-09-30 SC673161 frs-bus:SmallCompaniesRegimeForAccounts 2023-10-01 2024-09-30 SC673161 frs-bus:Director1 2023-10-01 2024-09-30 SC673161 frs-bus:Director2 2023-10-01 2024-09-30 SC673161 frs-countries:Scotland 2023-10-01 2024-09-30 SC673161 2022-09-30 SC673161 2023-09-30 SC673161 2022-10-01 2023-09-30 SC673161 frs-core:CurrentFinancialInstruments 2023-09-30 SC673161 frs-core:ShareCapital 2023-09-30 SC673161 frs-core:RetainedEarningsAccumulatedLosses 2023-09-30
Registered number: SC673161
The Hifi Gallery Ltd
Financial Statements
For The Year Ended 30 September 2024
Stewart Accounting Services Limited
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: SC673161
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 34,074 5,935
34,074 5,935
CURRENT ASSETS
Stocks 5 20,500 42,144
Debtors 6 1,033 1,283
Cash at bank and in hand 8,980 12,406
30,513 55,833
Creditors: Amounts Falling Due Within One Year 7 (88,039 ) (72,781 )
NET CURRENT ASSETS (LIABILITIES) (57,526 ) (16,948 )
TOTAL ASSETS LESS CURRENT LIABILITIES (23,452 ) (11,013 )
NET LIABILITIES (23,452 ) (11,013 )
CAPITAL AND RESERVES
Called up share capital 8 10 10
Profit and Loss Account (23,462 ) (11,023 )
SHAREHOLDERS' FUNDS (23,452) (11,013)
Page 1
Page 2
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 Profit and Loss Account.
On behalf of the board
Mr Paul Bird
Director
26th June 2025
The notes on pages 3 to 5 form part of these financial statements.
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Page 3
Notes to the Financial Statements
1. General Information
The Hifi Gallery Ltd is a private company, limited by shares, incorporated in Scotland, registered number SC673161 . The registered office is Alloa Business Centre , Whins Road, Alloa, Clackmannanshire, FK10 3SA.
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. 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:
Leasehold nil
Fixtures & Fittings 25% Straight Line Method
Computer Equipment 33.33% Straight Line Method
2.4. Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
3. Average Number of Employees
Average number of employees, including directors, during the year was: NIL (2023: NIL)
- -
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4. Tangible Assets
Land & Property
Leasehold Fixtures & Fittings Computer Equipment Total
£ £ £ £
Cost
As at 1 October 2023 - 6,447 6,107 12,554
Additions 28,320 2,416 1,875 32,611
As at 30 September 2024 28,320 8,863 7,982 45,165
Depreciation
As at 1 October 2023 - 2,203 4,416 6,619
Provided during the period - 2,008 2,464 4,472
As at 30 September 2024 - 4,211 6,880 11,091
Net Book Value
As at 30 September 2024 28,320 4,652 1,102 34,074
As at 1 October 2023 - 4,244 1,691 5,935
5. Stocks
2024 2023
£ £
Stock 2,100 9,644
Finished goods 18,400 32,500
20,500 42,144
6. Debtors
2024 2023
£ £
Due within one year
Trade debtors - 55
Prepayments and accrued income 100 -
VAT 933 1,228
1,033 1,283
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7. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 1,379 6,209
Accruals and deferred income - 2,123
Directors' loan accounts 86,660 64,449
88,039 72,781
8. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 10 10
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