Software Sculptors Limited Accounts

SOFTWARE SCULPTORS LIMITED - Company Information






Software Sculptors Limited

	Company No. 04044797
		Information for Filing with The Registrar
		31 December 2023

The Directors present their report and the accounts for the year ended 31 December 2023.

Principal activities
The principal activity of the company during the year under review was software publishing, consultancy, development and supply.




Directors

The Directors who served at any time during the year were as follows:

D.J. Muffitt
P. Wiggins






































































The above report has been prepared in accordance with the provisions applicable to companies subject to the small companies regime as set out in Part 15 of the Companies Act 2006.

Signed on behalf of the board

P. Wiggins
Company Secretary
22 March 2024

at	31 December 2023
Company No.		04044797	Notes	2023	2022
				£	£
Fixed assets
	Intangible assets		4	108,500	124,000
	Tangible assets		5	2,366	797


				110,866	124,797
Current assets

	Debtors		6	23,765	23,132

	Cash at bank and in hand			127,546	78,153
				151,311	101,285
Creditors: Amount falling due within one year			7	(72,673)	(77,461)
Net current assets				78,638	23,824
Total assets less current liabilities				189,504	148,621




Net assets				189,504	148,621

Capital and reserves
	Called up share capital			100	100



	Profit and loss account		9	189,404	148,521

Total equity				189,504	148,621



These accounts have been prepared in accordance with the special provisions applicable to companies subject to the small companies regime of the Companies Act 2006.

For the year ended 31 December 2023 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 Companies Act 2006 with respect to accounting records and the preparation of accounts.



As permitted by section 444 (5A)of the Companies Act 2006 the directors have not delivered to the Registrar a copy of the company's profit and loss account.

Approved by the board on 22 March 2024 and signed on its behalf by:
P. Wiggins
Director
22 March 2024

for the year ended 31 December 2023

General information

Software Sculptors Limited is a private company limited by shares and incorporated in England and Wales.

Its registered number is: 04044797

Its registered office is:

Its trading address is:

The Fort Business Centre

Artillery Business Park

Park Hall

Oswestry

Shropshire

SY11 4AD

The accounts have been prepared in accordance with FRS 102 Section 1A - The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.

Accounting policies

Turnover

Turnover is measured at the fair value of the consideration received or receivable. Turnover is reduced for estimated customer returns, rebates and other similar allowances.

Revenue from the sale of goods is recognised when all the following conditions are satisfied:
• the Company has transferred to the buyer the significant risks and rewards of ownership of the
goods;
• the Company retains neither continuing managerial involvement to the degree usually associated
with ownership nor effective control over the goods sold;
• the amount of revenue can be measured reliably;
• it is probable that the economic benefits associated with the transaction will flow to the Company;
and
• the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Specifically, revenue from the sale of goods is recognised when goods are delivered and legal title is passed.

Intangible fixed assets

Intangible fixed assets are carried at cost less accumulated amortisation and impairment losses.

Research and development costs

Expenditure on research and development is written off in the year it is incurred unless it meets the criteria to allow it to be capitalised. Costs of research are always written off in the year in which they are incurred. Where development costs are recognised as an asset, they are amortised over the period expected to benefit from them. Amortisation of the capitalised costs begins once the developed product comes into use, typically at rate of 33.33% straight line.

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 profit and loss account 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 temporary differences. Deferred tax assets are generally recognised for all deductible timing differences to the extent that it is probable that taxable profits will be available against which those deductible temporary 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.

Current or deferred tax for the year is recognised in profit or loss, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.

Trade and other debtors

Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method, less impairment losses for bad and doubtful debts.

Trade and other creditors

Short term 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.

Provisions

Provisions are made where an event has taken place that gives the Company a legal or constructive obligation that probably requires settlement by a transfer of economic benefit, and a reliable estimate can be made of the amount of the obligation.

Provisions are charged as an expense to the profit and loss account in the year that the Company becomes aware of the obligation, and are measured at the best estimate at balance sheet date of the expenditure required to settle the obligation, taking into account relevant risks and uncertainties.

When payments are eventually made, they are charged to the provision carried in the balance sheet.

3	Employees
			2023	2022
			Number	Number
		The average monthly number of employees (including directors) during the year was:	2	2

4	Intangible fixed assets
			Other	Total
			£	£
		Cost
		At 1 January 2023	155,000	155,000


		At 31 December 2023	155,000	155,000
		Amortisation and impairment
		At 1 January 2023	31,000	31,000
		Charge for the year	15,500	15,500


		At 31 December 2023	46,500	46,500
		Net book values
		At 31 December 2023	108,500	108,500
		At 31 December 2022	124,000	124,000

5	Tangible fixed assets
			Fixtures, fittings and equipment	Total
			£	£
		Cost or revaluation
		At 1 January 2023	64,921	64,921
		Additions	2,982	2,982



		At 31 December 2023	67,903	67,903
		Depreciation
		At 1 January 2023	64,124	64,124
		Charge for the year	1,413	1,413



		At 31 December 2023	65,537	65,537
		Net book values
		At 31 December 2023	2,366	2,366
		At 31 December 2022	797	797

6	Debtors
			2023	2022
			£	£
		Trade debtors	22,172	21,854






		Prepayments and accrued income	1,593	1,278
			23,765	23,132

7	Creditors:
		amounts falling due within one year
			2023	2022
			£	£




		Trade creditors	1,483	1,283

		Taxes and social security	21,009	22,261
		Loans from directors	10,200	9,600
		Other creditors	6,593	6,593
		Accruals and deferred income	33,388	37,724
			72,673	77,461

Share Capital

Ordinary

Reserves

Profit and loss account - includes all current and prior period retained profits and losses.