Acorah Software Products - Accounts Production 16.3.350 false true 31 August 2023 1 September 2022 false 1 September 2023 31 August 2024 31 August 2024 SC404950 Mr Stephen Mears iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure SC404950 2023-08-31 SC404950 2024-08-31 SC404950 2023-09-01 2024-08-31 SC404950 frs-core:Non-currentFinancialInstruments 2024-08-31 SC404950 frs-core:FurnitureFittings 2023-09-01 2024-08-31 SC404950 frs-core:PlantMachinery 2023-09-01 2024-08-31 SC404950 frs-core:ShareCapital 2024-08-31 SC404950 frs-core:RetainedEarningsAccumulatedLosses 2024-08-31 SC404950 frs-bus:PrivateLimitedCompanyLtd 2023-09-01 2024-08-31 SC404950 frs-bus:AbridgedAccounts 2023-09-01 2024-08-31 SC404950 frs-bus:SmallEntities 2023-09-01 2024-08-31 SC404950 frs-bus:AuditExempt-NoAccountantsReport 2023-09-01 2024-08-31 SC404950 frs-bus:SmallCompaniesRegimeForAccounts 2023-09-01 2024-08-31 SC404950 frs-bus:Director1 2023-09-01 2024-08-31 SC404950 frs-bus:Director1 2023-08-31 SC404950 frs-bus:Director1 2024-08-31 SC404950 frs-countries:Scotland 2023-09-01 2024-08-31 SC404950 2022-08-31 SC404950 2023-08-31 SC404950 2022-09-01 2023-08-31 SC404950 frs-core:Non-currentFinancialInstruments 2023-08-31 SC404950 frs-core:ShareCapital 2023-08-31 SC404950 frs-core:RetainedEarningsAccumulatedLosses 2023-08-31
Registered number: SC404950
Mear Technology Limited
Unaudited ABRIDGED Financial Statements
For The Year Ended 31 August 2024
VIBAS Accountants
Contents
Page
Abridged Balance Sheet 1—2
Notes to the Abridged Financial Statements 3—4
Page 1
Abridged Balance Sheet
Registered number: SC404950
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 10,697 12,874
10,697 12,874
CURRENT ASSETS
Debtors 94,318 43,994
Cash at bank and in hand 92,925 92,808
187,243 136,802
Creditors: Amounts Falling Due Within One Year (121,744 ) (73,271 )
NET CURRENT ASSETS (LIABILITIES) 65,499 63,531
TOTAL ASSETS LESS CURRENT LIABILITIES 76,196 76,405
Creditors: Amounts Falling Due After More Than One Year (18,789 ) (19,052 )
NET ASSETS 57,407 57,353
CAPITAL AND RESERVES
Called up share capital 5 1 1
Profit and Loss Account 57,406 57,352
SHAREHOLDERS' FUNDS 57,407 57,353
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For the year ending 31 August 2024 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 Profit and Loss Account.
All of the company's members have consented to the preparation of an Abridged Profit and Loss Account and an Abridged Balance Sheet for the year end 31 August 2024 in accordance with section 444(2A) of the Companies Act 2006.
On behalf of the board
Mr Stephen Mears
Director
03/01/2025
The notes on pages 3 to 4 form part of these financial statements.
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Notes to the Abridged Financial Statements
1. General Information
Mear Technology Limited is a private company, limited by shares, incorporated in Scotland, registered number SC404950 . The registered office is Unit 2 Eliburn Office Park, Livingston, West Lothian, EH54 6GR.
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:
Plant & Machinery 25% reducing balance
Fixtures & Fittings 25% reducing balance
2.4. 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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2.5. Government Grant
Government grants are recognised in the profit and loss account in an appropriate manner that matches them with the expenditure towards which they are intended to contribute.
Grants for immediate financial support or to cover costs already incurred are recognised immediately in the profit and loss account. Grants towards general activities of the entity over a specific period are recognised in the profit and loss account over that period.
Grants towards fixed assets are recognised over the expected useful lives of the related assets and are treated as deferred income and released to the profit and loss account over the useful life of the asset concerned.
All grants in the profit and loss account are recognised when all conditions for receipt have been complied with.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 4 (2023: 6)
4 6
4. Tangible Assets
Total
£
Cost
As at 1 September 2023 45,187
Additions 1,042
As at 31 August 2024 46,229
Depreciation
As at 1 September 2023 32,313
Provided during the period 3,219
As at 31 August 2024 35,532
Net Book Value
As at 31 August 2024 10,697
As at 1 September 2023 12,874
5. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 1 1
6. Directors Advances, Credits and Guarantees
Included within Debtors are the following loans to directors:
As at 1 September 2023 Amounts advanced Amounts repaid Amounts written off As at 31 August 2024
£ £ £ £ £
Mr Stephen Mears 4,229 2,824 313 - 6,741
The above loan is unsecured, interest free and repayable on demand.
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