Acorah Software Products - Accounts Production 16.4.675 false true 30 April 2024 1 May 2023 false 1 May 2024 30 April 2025 30 April 2025 SC230198 Mr Garson Miller iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure SC230198 2024-04-30 SC230198 2025-04-30 SC230198 2024-05-01 2025-04-30 SC230198 frs-core:CurrentFinancialInstruments 2025-04-30 SC230198 frs-core:ComputerEquipment 2025-04-30 SC230198 frs-core:ComputerEquipment 2024-05-01 2025-04-30 SC230198 frs-core:ComputerEquipment 2024-04-30 SC230198 frs-core:PlantMachinery 2025-04-30 SC230198 frs-core:PlantMachinery 2024-05-01 2025-04-30 SC230198 frs-core:PlantMachinery 2024-04-30 SC230198 frs-core:ShareCapital 2025-04-30 SC230198 frs-core:RetainedEarningsAccumulatedLosses 2025-04-30 SC230198 frs-bus:PrivateLimitedCompanyLtd 2024-05-01 2025-04-30 SC230198 frs-bus:FilletedAccounts 2024-05-01 2025-04-30 SC230198 frs-bus:SmallEntities 2024-05-01 2025-04-30 SC230198 frs-bus:AuditExempt-NoAccountantsReport 2024-05-01 2025-04-30 SC230198 frs-bus:SmallCompaniesRegimeForAccounts 2024-05-01 2025-04-30 SC230198 frs-bus:Director1 2024-05-01 2025-04-30 SC230198 frs-core:CurrentFinancialInstruments 1 2025-04-30 SC230198 frs-countries:Scotland 2024-05-01 2025-04-30 SC230198 2023-04-30 SC230198 2024-04-30 SC230198 2023-05-01 2024-04-30 SC230198 frs-core:CurrentFinancialInstruments 2024-04-30 SC230198 frs-core:ShareCapital 2024-04-30 SC230198 frs-core:RetainedEarningsAccumulatedLosses 2024-04-30 SC230198 frs-core:CurrentFinancialInstruments 1 2024-04-30
Registered number: SC230198
Mainstay North Sea Limited
Financial Statements
For The Year Ended 30 April 2025
Orcadia
Chartered Accountants
1-3 East Road
Kirkwall
Orkney
KW15 1HZ
Contents
Page
Statement of Financial Position 1—2
Notes to the Financial Statements 3—5
Page 1
Statement of Financial Position
Registered number: SC230198
2025 2024
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 520 693
Investment Properties 5 251,640 251,640
252,160 252,333
CURRENT ASSETS
Debtors 6 6,048 4,500
Cash at bank and in hand 51,753 95,800
57,801 100,300
Creditors: Amounts Falling Due Within One Year 7 (21,401 ) (74,612 )
NET CURRENT ASSETS (LIABILITIES) 36,400 25,688
TOTAL ASSETS LESS CURRENT LIABILITIES 288,560 278,021
PROVISIONS FOR LIABILITIES
Deferred Taxation (91 ) (122 )
NET ASSETS 288,469 277,899
CAPITAL AND RESERVES
Called up share capital 8 1 1
Income Statement 288,468 277,898
SHAREHOLDERS' FUNDS 288,469 277,899
Page 1
Page 2
For the year ending 30 April 2025 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 Garson Miller
Director
7 July 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
Mainstay North Sea Limited is a private company, limited by shares, incorporated in Scotland, registered number SC230198 . The registered office is 1 - 3 East Road, Kirkwall, Orkney, KW15 1HZ.
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.
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:
Plant & Machinery 25% on reducing balance
Computer Equipment 25% on reducing balance
2.4. Investment Properties
Investment property is shown at most recent valuation.  Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.
2.5. Financial Instruments
The company has elected to apply the provisions of Section 11 'Basic Financial Instruments' 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 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
...CONTINUED
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2.5. Financial Instruments - continued
Basic financial liabilities, including creditors re 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.
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.
3. Average Number of Employees
Average number of employees, including directors, during the year was: NIL (2024: NIL)
- -
4. Tangible Assets
Plant & Machinery Computer Equipment Total
£ £ £
Cost
As at 1 May 2024 6,086 2,626 8,712
As at 30 April 2025 6,086 2,626 8,712
...CONTINUED
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Page 5
Depreciation
As at 1 May 2024 5,841 2,178 8,019
Provided during the period 61 112 173
As at 30 April 2025 5,902 2,290 8,192
Net Book Value
As at 30 April 2025 184 336 520
As at 1 May 2024 245 448 693
5. Investment Property
2025
£
Fair Value
As at 1 May 2024 and 30 April 2025 251,640
6. Debtors
2025 2024
£ £
Due within one year
Trade debtors 1,548 -
Other debtors 4,500 4,500
6,048 4,500
7. Creditors: Amounts Falling Due Within One Year
2025 2024
£ £
Corporation tax 4,857 32,346
VAT 976 2,624
Other creditors 1,150 1,140
Barclaycard Credit Card 103 -
Director's loan account 14,315 38,502
21,401 74,612
8. Share Capital
2025 2024
£ £
Allotted, Called up and fully paid 1 1
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