Acorah Software Products - Accounts Production 16.3.350 false true 31 January 2024 1 February 2023 false 1 February 2024 31 January 2025 31 January 2025 SC371076 Mr John Crawford Mr Daniel Mcnicol iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure SC371076 2024-01-31 SC371076 2025-01-31 SC371076 2024-02-01 2025-01-31 SC371076 frs-core:CurrentFinancialInstruments 2025-01-31 SC371076 frs-core:ComputerEquipment 2025-01-31 SC371076 frs-core:ComputerEquipment 2024-02-01 2025-01-31 SC371076 frs-core:ComputerEquipment 2024-01-31 SC371076 frs-core:DevelopmentCostsCapitalisedDevelopmentExpenditure 2025-01-31 SC371076 frs-core:DevelopmentCostsCapitalisedDevelopmentExpenditure 2024-02-01 2025-01-31 SC371076 frs-core:DevelopmentCostsCapitalisedDevelopmentExpenditure 2024-01-31 SC371076 frs-core:FurnitureFittings 2025-01-31 SC371076 frs-core:FurnitureFittings 2024-02-01 2025-01-31 SC371076 frs-core:FurnitureFittings 2024-01-31 SC371076 frs-core:SharePremium 2025-01-31 SC371076 frs-core:ShareCapital 2025-01-31 SC371076 frs-core:RetainedEarningsAccumulatedLosses 2025-01-31 SC371076 frs-bus:PrivateLimitedCompanyLtd 2024-02-01 2025-01-31 SC371076 frs-bus:FilletedAccounts 2024-02-01 2025-01-31 SC371076 frs-bus:SmallEntities 2024-02-01 2025-01-31 SC371076 frs-bus:AuditExempt-NoAccountantsReport 2024-02-01 2025-01-31 SC371076 frs-bus:SmallCompaniesRegimeForAccounts 2024-02-01 2025-01-31 SC371076 frs-bus:Director1 2024-02-01 2025-01-31 SC371076 frs-bus:Director2 2024-02-01 2025-01-31 SC371076 frs-countries:Scotland 2024-02-01 2025-01-31 SC371076 2023-01-31 SC371076 2024-01-31 SC371076 2023-02-01 2024-01-31 SC371076 frs-core:CurrentFinancialInstruments 2024-01-31 SC371076 frs-core:SharePremium 2024-01-31 SC371076 frs-core:ShareCapital 2024-01-31 SC371076 frs-core:RetainedEarningsAccumulatedLosses 2024-01-31
Registered number: SC371076
Ingenious Audio Limited
Unaudited Financial Statements
For The Year Ended 31 January 2025
TaxAssist West Edinburgh
Contents
Page
Balance Sheet 1
Notes to the Financial Statements 2—3
Page 1
Balance Sheet
Registered number: SC371076
2025 2024
Notes £ £ £ £
FIXED ASSETS
Intangible Assets 4 86,032 99,418
Tangible Assets 5 434 844
86,466 100,262
CURRENT ASSETS
Debtors 6 2,781 8,165
Cash at bank and in hand 27,408 119,224
30,189 127,389
Creditors: Amounts Falling Due Within One Year 7 (49,568 ) (10,794 )
NET CURRENT ASSETS (LIABILITIES) (19,379 ) 116,595
TOTAL ASSETS LESS CURRENT LIABILITIES 67,087 216,857
NET ASSETS 67,087 216,857
CAPITAL AND RESERVES
Called up share capital 8 150 150
Share premium account 1,191,303 1,191,303
Profit and Loss Account (1,124,366 ) (974,596 )
SHAREHOLDERS' FUNDS 67,087 216,857
For the year ending 31 January 2025 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 John Crawford
Director
01/07/2025
The notes on pages 2 to 3 form part of these financial statements.
Page 1
Page 2
Notes to the Financial Statements
1. General Information
Ingenious Audio Limited is a private company, limited by shares, incorporated in Scotland, registered number SC371076 . The registered office is 5 South Charlotte Street, Edinburgh, EH2 4AN.
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. Research and Development
In the research phase of an internal project it is not possible to demonstrate that the project will generate future economic benefits and hence all expenditure on research is recognised as an expense when it is incurred. Intangible assets are recognised from the development phase of a project if and only if certain specific criteria are met in order to demonstrate the asset will generate probable future economic benefits and that its cost can be reliably measured. The capitalised development costs are subsequently amortised to 10 years on a straight line basis over their expected useful economic lives.
If it is not possible to distinguish between the research phase and the development phase of an internal project the expenditure is treated as if it were all incurred in the research phase only.
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:
Fixtures & Fittings 25% Straight line method
Computer Equipment 25% Straight line method
3. Average Number of Employees
Average number of employees, including directors, during the year was: 1 (2024: 1)
1 1
4. Intangible Assets
Development Costs
£
Cost
As at 1 February 2024 133,858
As at 31 January 2025 133,858
Amortisation
As at 1 February 2024 34,440
Provided during the period 13,386
As at 31 January 2025 47,826
Net Book Value
As at 31 January 2025 86,032
As at 1 February 2024 99,418
Page 2
Page 3
5. Tangible Assets
Fixtures & Fittings Computer Equipment Total
£ £ £
Cost
As at 1 February 2024 - 26,096 26,096
Additions 136 - 136
As at 31 January 2025 136 26,096 26,232
Depreciation
As at 1 February 2024 - 25,252 25,252
Provided during the period 27 519 546
As at 31 January 2025 27 25,771 25,798
Net Book Value
As at 31 January 2025 109 325 434
As at 1 February 2024 - 844 844
6. Debtors
2025 2024
£ £
Due within one year
Other debtors 2,781 8,165
7. Creditors: Amounts Falling Due Within One Year
2025 2024
£ £
Trade creditors - 996
Bank loans and overdrafts 1,417 624
Other creditors 48,151 9,174
49,568 10,794
8. Share Capital
2025 2024
£ £
Allotted, Called up and fully paid 150 150
Page 3