Acorah Software Products - Accounts Production 16.2.850 false true 31 March 2024 1 April 2023 false 1 April 2024 31 March 2025 31 March 2025 SC578297 Mrs Leona Murphy Mrs Lisa Hendry iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure SC578297 2024-03-31 SC578297 2025-03-31 SC578297 2024-04-01 2025-03-31 SC578297 frs-core:CurrentFinancialInstruments 2025-03-31 SC578297 frs-core:Non-currentFinancialInstruments 2025-03-31 SC578297 frs-core:BetweenOneFiveYears 2025-03-31 SC578297 frs-core:ComputerEquipment 2025-03-31 SC578297 frs-core:ComputerEquipment 2024-04-01 2025-03-31 SC578297 frs-core:ComputerEquipment 2024-03-31 SC578297 frs-core:DevelopmentCostsCapitalisedDevelopmentExpenditure 2024-04-01 2025-03-31 SC578297 frs-core:FurnitureFittings 2025-03-31 SC578297 frs-core:FurnitureFittings 2024-04-01 2025-03-31 SC578297 frs-core:FurnitureFittings 2024-03-31 SC578297 frs-core:NetGoodwill 2025-03-31 SC578297 frs-core:NetGoodwill 2024-04-01 2025-03-31 SC578297 frs-core:NetGoodwill 2024-03-31 SC578297 frs-core:MoreThanFiveYears 2025-03-31 SC578297 frs-core:CapitalRedemptionReserve 2025-03-31 SC578297 frs-core:ShareCapital 2025-03-31 SC578297 frs-core:RetainedEarningsAccumulatedLosses 2025-03-31 SC578297 frs-bus:PrivateLimitedCompanyLtd 2024-04-01 2025-03-31 SC578297 frs-bus:FilletedAccounts 2024-04-01 2025-03-31 SC578297 frs-bus:SmallEntities 2024-04-01 2025-03-31 SC578297 frs-bus:AuditExempt-NoAccountantsReport 2024-04-01 2025-03-31 SC578297 frs-bus:SmallCompaniesRegimeForAccounts 2024-04-01 2025-03-31 SC578297 frs-core:AcceleratedTaxDepreciationDeferredTax 2025-03-31 SC578297 frs-bus:Director1 2024-04-01 2025-03-31 SC578297 frs-bus:Director1 2024-03-31 SC578297 frs-bus:Director1 2025-03-31 SC578297 frs-bus:Director2 2024-04-01 2025-03-31 SC578297 frs-bus:Director2 2024-03-31 SC578297 frs-bus:Director2 2025-03-31 SC578297 frs-core:CurrentFinancialInstruments 1 2025-03-31 SC578297 frs-core:Non-currentFinancialInstruments 1 2025-03-31 SC578297 frs-core:CurrentFinancialInstruments 2 2025-03-31 SC578297 frs-countries:Scotland 2024-04-01 2025-03-31 SC578297 2023-03-31 SC578297 2024-03-31 SC578297 2023-04-01 2024-03-31 SC578297 frs-core:CurrentFinancialInstruments 2024-03-31 SC578297 frs-core:Non-currentFinancialInstruments 2024-03-31 SC578297 frs-core:BetweenOneFiveYears 2024-03-31 SC578297 frs-core:MoreThanFiveYears 2024-03-31 SC578297 frs-core:CapitalRedemptionReserve 2024-03-31 SC578297 frs-core:ShareCapital 2024-03-31 SC578297 frs-core:RetainedEarningsAccumulatedLosses 2024-03-31 SC578297 frs-core:AcceleratedTaxDepreciationDeferredTax 2024-03-31 SC578297 frs-core:CurrentFinancialInstruments 1 2024-03-31 SC578297 frs-core:Non-currentFinancialInstruments 1 2024-03-31 SC578297 frs-core:CurrentFinancialInstruments 2 2024-03-31
Registered number: SC578297
Morison and Smith Limited
Unaudited Financial Statements
For The Year Ended 31 March 2025
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—6
Page 1
Balance Sheet
Registered number: SC578297
2025 2024
Notes £ £ £ £
FIXED ASSETS
Intangible Assets 4 105,000 140,000
Tangible Assets 5 22,864 11,584
127,864 151,584
CURRENT ASSETS
Stocks 6 105,889 196,539
Debtors 7 250,046 184,137
Cash at bank and in hand 131,274 9,089
487,209 389,765
Creditors: Amounts Falling Due Within One Year 8 (252,037 ) (277,074 )
NET CURRENT ASSETS (LIABILITIES) 235,172 112,691
TOTAL ASSETS LESS CURRENT LIABILITIES 363,036 264,275
Creditors: Amounts Falling Due After More Than One Year 9 (24,380 ) (106,680 )
PROVISIONS FOR LIABILITIES
Deferred Taxation 10 (5,716 ) (2,896 )
NET ASSETS 332,940 154,699
CAPITAL AND RESERVES
Called up share capital 11 60 60
Capital redemption reserve 40 40
Profit and Loss Account 332,840 154,599
SHAREHOLDERS' FUNDS 332,940 154,699
Page 1
Page 2
For the year ending 31 March 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
Mrs Leona Murphy
Director
Mrs Lisa Hendry
Director
23/06/2025
The notes on pages 3 to 6 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Morison and Smith Limited is a private company, limited by shares, incorporated in Scotland, registered number SC578297 . The registered office is 2nd Floor, Belgrave Court, Rosehall Road, Bellshill, Lanarkshire, ML4 3NR.
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, excluding discounts, rebates, value added tax and other sales taxes.
2.3. Intangible Fixed Assets and Amortisation - Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2018, is being amortised evenly over its estimated useful life of ten years.
2.4. Intangible Fixed Assets and Amortisation - Other Intangible
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.
2.5. Tangible Fixed Assets and Depreciation
Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life.
Fixtures & Fittings 15% on reducing balance
Computer Equipment 33% on cost
Tangible assets are initially recognised at cost which is the purchase price plus any directly attributable costs.
Subsequently tangible assets are measured at cost less accumulated depreciation and impairment losses.
2.6. Leasing and Hire Purchase Contracts
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.
2.7. Stocks and Work in Progress
Work in progress is valued at the lower of cost and estimated selling price less costs to sell, cost includes a relevant proportion of overheads according to the stage of completion.
2.8. Financial Instruments
The company only has basic financial instruments.
Short term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.
Short term trade creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.
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2.9. Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.
Current or deferred taxation assets and liabilities are not discounted.
Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.
Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.
Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.
2.10. Pensions
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 19 (2024: 18)
19 18
4. Intangible Assets
Goodwill
£
Cost
As at 1 April 2024 350,000
As at 31 March 2025 350,000
Amortisation
As at 1 April 2024 210,000
Provided during the period 35,000
As at 31 March 2025 245,000
Net Book Value
As at 31 March 2025 105,000
As at 1 April 2024 140,000
5. Tangible Assets
Fixtures & Fittings Computer Equipment Total
£ £ £
Cost
As at 1 April 2024 33,988 16,820 50,808
Additions - 15,974 15,974
As at 31 March 2025 33,988 32,794 66,782
...CONTINUED
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Depreciation
As at 1 April 2024 22,516 16,708 39,224
Provided during the period 2,869 1,825 4,694
As at 31 March 2025 25,385 18,533 43,918
Net Book Value
As at 31 March 2025 8,603 14,261 22,864
As at 1 April 2024 11,472 112 11,584
6. Stocks
2025 2024
£ £
Work in progress 105,889 196,539
7. Debtors
2025 2024
£ £
Due within one year
Trade debtors 63,222 56,729
Prepayments and accrued income 23,102 24,291
Client current account 5,603,956 7,157,644
Balances due to clients (5,460,317 ) (7,054,527 )
Directors' loan accounts 20,083 -
250,046 184,137
8. Creditors: Amounts Falling Due Within One Year
2025 2024
£ £
Bank loans and overdrafts 66,800 140,436
Corporation tax 83,080 45,297
Other taxes and social security 3,872 10,578
VAT 65,150 54,407
Other loans 13,046 14,126
Accruals and deferred income 20,089 5,291
Directors' loan accounts - 6,939
252,037 277,074
9. Creditors: Amounts Falling Due After More Than One Year
2025 2024
£ £
Bank loans - 1-2 years 5,133 66,800
Other creditors 19,247 28,747
Bank loans - 2-5 years - 11,133
24,380 106,680
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10. Deferred Taxation
The provision for deferred tax is made up as follows:
2025 2024
£ £
Accelerated capital allowances 5,716 2,896
11. Share Capital
2025 2024
£ £
Allotted, Called up and fully paid 60 60
12. Other Commitments
Leases of property are included within the operating lease disclosure below. Each property has been leased on a ten year term with review periods after the initial 2-3 years and subsequently every 3 years thereafter.
Minimum lease payments under non-cancellable operating leases fall due as follows:
2025 2024
£ £
Later than one year and not later than five years 46,937 68,730
Later than five years 437,000 534,200
483,937 602,930
13. Directors Advances, Credits and Guarantees
Included within Debtors are the following loans to directors:
As at 1 April 2024 Amounts advanced Amounts repaid Amounts written off As at 31 March 2025
£ £ £ £ £
Mrs Leona Murphy - 9,937 - - 9,937
Mrs Lisa Hendry - 10,146 - - 10,146
The above loans are unsecured, interest free and have been repaid within 9 months of the year end.
14. Related Party Transactions
At the year end the company owed Murphy Properties (Scotland) Ltd, a company in which Leona Murphy is a director, an amount totalling £19,247 (2024: £28,747).
This loan is non-interest bearing and is repayable on demand though payment will not be sought within one year of the company year end where this would impair the company's trade and has therefore been disclosed as due more than one year from the company year-end.
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