Acorah Software Products - Accounts Production 16.5.460 false true 31 December 2023 1 January 2023 false 1 January 2024 31 December 2024 31 December 2024 SC590450 Mrs Verennal Thom iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure SC590450 2023-12-31 SC590450 2024-12-31 SC590450 2024-01-01 2024-12-31 SC590450 frs-core:CurrentFinancialInstruments 2024-12-31 SC590450 frs-core:Non-currentFinancialInstruments 2024-12-31 SC590450 frs-core:ComputerEquipment 2024-12-31 SC590450 frs-core:ComputerEquipment 2024-01-01 2024-12-31 SC590450 frs-core:ComputerEquipment 2023-12-31 SC590450 frs-core:FurnitureFittings 2024-12-31 SC590450 frs-core:FurnitureFittings 2024-01-01 2024-12-31 SC590450 frs-core:FurnitureFittings 2023-12-31 SC590450 frs-core:NetGoodwill 2024-12-31 SC590450 frs-core:NetGoodwill 2024-01-01 2024-12-31 SC590450 frs-core:NetGoodwill 2023-12-31 SC590450 frs-core:PlantMachinery 2024-12-31 SC590450 frs-core:PlantMachinery 2024-01-01 2024-12-31 SC590450 frs-core:PlantMachinery 2023-12-31 SC590450 frs-core:ShareCapital 2024-12-31 SC590450 frs-core:RetainedEarningsAccumulatedLosses 2024-12-31 SC590450 frs-bus:PrivateLimitedCompanyLtd 2024-01-01 2024-12-31 SC590450 frs-bus:FilletedAccounts 2024-01-01 2024-12-31 SC590450 frs-bus:SmallEntities 2024-01-01 2024-12-31 SC590450 frs-bus:AuditExempt-NoAccountantsReport 2024-01-01 2024-12-31 SC590450 frs-bus:SmallCompaniesRegimeForAccounts 2024-01-01 2024-12-31 SC590450 frs-bus:Director1 2024-01-01 2024-12-31 SC590450 frs-countries:Scotland 2024-01-01 2024-12-31 SC590450 2022-12-31 SC590450 2023-12-31 SC590450 2023-01-01 2023-12-31 SC590450 frs-core:CurrentFinancialInstruments 2023-12-31 SC590450 frs-core:Non-currentFinancialInstruments 2023-12-31 SC590450 frs-core:ShareCapital 2023-12-31 SC590450 frs-core:RetainedEarningsAccumulatedLosses 2023-12-31
Registered number: SC590450
VT Wealth Management Ltd
Unaudited Financial Statements
For The Year Ended 31 December 2024
M Squared Accountants Ltd
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: SC590450
2024 2023
Notes £ £ £ £
FIXED ASSETS
Intangible Assets 4 183,732 226,613
Tangible Assets 5 69,309 89,688
253,041 316,301
CURRENT ASSETS
Debtors 6 107,606 105,769
Cash at bank and in hand 138,433 138,354
246,039 244,123
Creditors: Amounts Falling Due Within One Year 7 (316,120 ) (335,018 )
NET CURRENT ASSETS (LIABILITIES) (70,081 ) (90,895 )
TOTAL ASSETS LESS CURRENT LIABILITIES 182,960 225,406
Creditors: Amounts Falling Due After More Than One Year 8 (6,639 ) (42,617 )
PROVISIONS FOR LIABILITIES
Deferred Taxation (13,329 ) (13,154 )
NET ASSETS 162,992 169,635
CAPITAL AND RESERVES
Called up share capital 9 100 100
Profit and Loss Account 162,892 169,535
SHAREHOLDERS' FUNDS 162,992 169,635
Page 1
Page 2
For the year ending 31 December 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 her 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 Verennal Thom
Director
23/09/2025
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
VT Wealth Management Ltd is a private company, limited by shares, incorporated in Scotland, registered number SC590450 . The registered office is 2-4 Balgownie Crescent, Bridge Of Don, Aberdeen, AB23 8ER.
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 - Goodwill
Goodwill is the difference between amounts paid on the acquisition of a business and the fair value of the separable net assets. It is amortised to the profit and loss account over its estimated economic life of .... years.
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:
Plant & Machinery 10 years
Fixtures & Fittings 25% straight line
Computer Equipment 33% straight line
2.5. 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.
Page 3
Page 4
3. Average Number of Employees
Average number of employees, including directors, during the year was: 10 (2023: 9)
10 9
4. Intangible Assets
Goodwill
£
Cost
As at 1 January 2024 503,584
Additions 7,669
As at 31 December 2024 511,253
Amortisation
As at 1 January 2024 276,971
Provided during the period 50,550
As at 31 December 2024 327,521
Net Book Value
As at 31 December 2024 183,732
As at 1 January 2024 226,613
5. Tangible Assets
Plant & Machinery Fixtures & Fittings Computer Equipment Total
£ £ £ £
Cost
As at 1 January 2024 130,994 47,666 1,436 180,096
As at 31 December 2024 130,994 47,666 1,436 180,096
Depreciation
As at 1 January 2024 49,527 39,445 1,436 90,408
Provided during the period 13,100 7,279 - 20,379
As at 31 December 2024 62,627 46,724 1,436 110,787
Net Book Value
As at 31 December 2024 68,367 942 - 69,309
As at 1 January 2024 81,467 8,221 - 89,688
6. Debtors
2024 2023
£ £
Due within one year
Trade debtors 85,382 79,587
Prepayments and accrued income 15,224 19,182
Other debtors 7,000 7,000
107,606 105,769
Page 4
Page 5
7. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors - 1
Bank loans and overdrafts 39,997 44,017
Corporation tax 57,759 57,612
Other taxes and social security 3,812 7,307
Other creditors 2,290 2,095
Accruals and deferred income 2,575 2,500
Director's loan account 209,687 221,486
316,120 335,018
8. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Bank loans 6,639 42,617
9. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 100 100
Page 5