Acorah Software Products - Accounts Production 16.2.850 false true 31 October 2023 1 November 2022 false 1 November 2023 31 October 2024 31 October 2024 SC446550 Mrs Angela Prentner-Smith Mr Piotr Zielinski iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure SC446550 2023-10-31 SC446550 2024-10-31 SC446550 2023-11-01 2024-10-31 SC446550 frs-core:CurrentFinancialInstruments 2024-10-31 SC446550 frs-core:Non-currentFinancialInstruments 2024-10-31 SC446550 frs-core:ComputerEquipment 2024-10-31 SC446550 frs-core:ComputerEquipment 2023-11-01 2024-10-31 SC446550 frs-core:ComputerEquipment 2023-10-31 SC446550 frs-core:DevelopmentCostsCapitalisedDevelopmentExpenditure 2023-11-01 2024-10-31 SC446550 frs-core:OtherResidualIntangibleAssets 2024-10-31 SC446550 frs-core:OtherResidualIntangibleAssets 2023-11-01 2024-10-31 SC446550 frs-core:OtherResidualIntangibleAssets 2023-10-31 SC446550 frs-core:SharePremium 2024-10-31 SC446550 frs-core:ShareCapital 2024-10-31 SC446550 frs-core:RetainedEarningsAccumulatedLosses 2024-10-31 SC446550 frs-bus:PrivateLimitedCompanyLtd 2023-11-01 2024-10-31 SC446550 frs-bus:FilletedAccounts 2023-11-01 2024-10-31 SC446550 frs-bus:SmallEntities 2023-11-01 2024-10-31 SC446550 frs-bus:AuditExempt-NoAccountantsReport 2023-11-01 2024-10-31 SC446550 frs-bus:SmallCompaniesRegimeForAccounts 2023-11-01 2024-10-31 SC446550 frs-bus:Director1 2023-11-01 2024-10-31 SC446550 frs-bus:Director2 2023-11-01 2024-10-31 SC446550 frs-countries:Scotland 2023-11-01 2024-10-31 SC446550 2022-10-31 SC446550 2023-10-31 SC446550 2022-11-01 2023-10-31 SC446550 frs-core:CurrentFinancialInstruments 2023-10-31 SC446550 frs-core:Non-currentFinancialInstruments 2023-10-31 SC446550 frs-core:SharePremium 2023-10-31 SC446550 frs-core:ShareCapital 2023-10-31 SC446550 frs-core:RetainedEarningsAccumulatedLosses 2023-10-31
Registered number: SC446550
This Is Milk Limited
Unaudited Financial Statements
For The Year Ended 31 October 2024
Ashton McGill
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: SC446550
2024 2023
Notes £ £ £ £
FIXED ASSETS
Intangible Assets 4 671,453 487,537
Tangible Assets 5 2,910 4,259
674,363 491,796
CURRENT ASSETS
Debtors 6 110,012 114,458
110,012 114,458
Creditors: Amounts Falling Due Within One Year 7 (436,851 ) (159,155 )
NET CURRENT ASSETS (LIABILITIES) (326,839 ) (44,697 )
TOTAL ASSETS LESS CURRENT LIABILITIES 347,524 447,099
Creditors: Amounts Falling Due After More Than One Year 8 (163,910 ) (216,061 )
NET ASSETS 183,614 231,038
CAPITAL AND RESERVES
Called up share capital 9 102 102
Share premium account 44,198 44,198
Profit and Loss Account 139,314 186,738
SHAREHOLDERS' FUNDS 183,614 231,038
Page 1
Page 2
For the year ending 31 October 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
Mrs Angela Prentner-Smith
Director
22/07/2025
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
This Is Milk Limited is a private company, limited by shares, incorporated in Scotland, registered number SC446550 . The registered office is 116 – 119 Baltic Chambers, 50 Wellington Street, Glasgow, G2 6HJ.
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 - Other Intangible
Other intangible assets are capitalised software development costs. It is amortised to profit and loss account over its estimated economic life of 10 years on a straight line basis.
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:
Computer Equipment 33% Reducing Balance
2.5. Foreign Currencies
Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate ruling on the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
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 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.
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3. Average Number of Employees
Average number of employees, including directors, during the year was: 11 (2023: 14)
11 14
4. Intangible Assets
Other
£
Cost
As at 1 November 2023 555,093
Additions 254,484
As at 31 October 2024 809,577
Amortisation
As at 1 November 2023 67,556
Provided during the period 70,568
As at 31 October 2024 138,124
Net Book Value
As at 31 October 2024 671,453
As at 1 November 2023 487,537
5. Tangible Assets
Computer Equipment
£
Cost
As at 1 November 2023 9,152
Additions 374
As at 31 October 2024 9,526
Depreciation
As at 1 November 2023 4,893
Provided during the period 1,723
As at 31 October 2024 6,616
Net Book Value
As at 31 October 2024 2,910
As at 1 November 2023 4,259
6. Debtors
2024 2023
£ £
Due within one year
Trade debtors 8,234 12,240
Other debtors 101,778 102,218
110,012 114,458
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7. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 68,402 19,185
Bank loans and overdrafts 108,380 63,777
Other creditors 181,331 43,916
Taxation and social security 78,738 32,277
436,851 159,155
8. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Bank loans 163,910 216,061
9. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 102 102
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