MUNRO'S ELECTRON BEAM SOFTWARE LTD - Filleted accounts

MUNRO'S ELECTRON BEAM SOFTWARE LTD - Filleted accounts


Registered number
02633393
MUNRO'S ELECTRON BEAM SOFTWARE LTD
Filleted Accounts
31 October 2022
MUNRO'S ELECTRON BEAM SOFTWARE LTD
Registered number: 02633393
Balance Sheet
as at 31 October 2022
Notes 2022 2021
£ £
Fixed assets
Tangible assets 3 6,671 8,895
Current assets
Debtors 4 58,834 1,110,249
Cash at bank and in hand 2,938,481 1,240,502
2,997,315 2,350,751
Creditors: amounts falling due within one year 5 (228,699) (325,061)
Net current assets 2,768,616 2,025,690
Total assets less current liabilities 2,775,287 2,034,585
Provisions for liabilities (1,597) -
Net assets 2,773,690 2,034,585
Capital and reserves
Called up share capital 1,200 1,200
Profit and loss account 2,772,490 2,033,385
Shareholders' funds 2,773,690 2,034,585
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Eric Munro
Director
Approved by the board on 10 March 2023
MUNRO'S ELECTRON BEAM SOFTWARE LTD
Notes to the Accounts
for the year ended 31 October 2022
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
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 software licences , maintenance and support services.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided on all tangible fixed assets at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Plant and Equipment over 5 years
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference. Current and deferred tax assets and liabilities are not discounted.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. All differences are charged to profit or loss.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2022 2021
Number Number
Average number of persons employed by the company 7 7
3 Tangible fixed assets
Plant and Equipment
£
Cost
At 1 November 2021 47,188
At 31 October 2022 47,188
Depreciation
At 1 November 2021 38,293
Charge for the year 2,224
At 31 October 2022 40,517
Net book value
At 31 October 2022 6,671
At 31 October 2021 8,895
4 Debtors 2022 2021
£ £
Trade debtors 58,315 1,110,249
Other debtors 519 -
58,834 1,110,249
5 Creditors: amounts falling due within one year 2022 2021
£ £
Taxation and social security costs 218,937 318,722
Other creditors 9,762 6,339
228,699 325,061
6 Other information
MUNRO'S ELECTRON BEAM SOFTWARE LTD is a private company limited by shares and incorporated in England. Its registered office is:
14 Cornwall Gardens
London
SW7 4AN
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