Caseware UK (AP4) 2022.0.179 2022.0.179 2023-01-312023-01-312022-02-019falseNo description of principal activity9truetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. SC382699 2022-02-01 2023-01-31 SC382699 2021-02-01 2022-01-31 SC382699 2023-01-31 SC382699 2022-01-31 SC382699 2021-02-01 SC382699 c:Director2 2022-02-01 2023-01-31 SC382699 d:Buildings d:LongLeaseholdAssets 2022-02-01 2023-01-31 SC382699 d:Buildings d:LongLeaseholdAssets 2023-01-31 SC382699 d:Buildings d:LongLeaseholdAssets 2022-01-31 SC382699 d:PlantMachinery 2022-02-01 2023-01-31 SC382699 d:PlantMachinery 2023-01-31 SC382699 d:PlantMachinery 2022-01-31 SC382699 d:PlantMachinery d:OwnedOrFreeholdAssets 2022-02-01 2023-01-31 SC382699 d:PlantMachinery d:LeasedAssetsHeldAsLessee 2022-02-01 2023-01-31 SC382699 d:MotorVehicles 2022-02-01 2023-01-31 SC382699 d:MotorVehicles 2023-01-31 SC382699 d:MotorVehicles 2022-01-31 SC382699 d:MotorVehicles d:OwnedOrFreeholdAssets 2022-02-01 2023-01-31 SC382699 d:MotorVehicles d:LeasedAssetsHeldAsLessee 2022-02-01 2023-01-31 SC382699 d:FurnitureFittings 2022-02-01 2023-01-31 SC382699 d:FurnitureFittings 2023-01-31 SC382699 d:FurnitureFittings 2022-01-31 SC382699 d:FurnitureFittings d:OwnedOrFreeholdAssets 2022-02-01 2023-01-31 SC382699 d:FurnitureFittings d:LeasedAssetsHeldAsLessee 2022-02-01 2023-01-31 SC382699 d:OwnedOrFreeholdAssets 2022-02-01 2023-01-31 SC382699 d:LeasedAssetsHeldAsLessee 2022-02-01 2023-01-31 SC382699 d:Goodwill 2022-02-01 2023-01-31 SC382699 d:Goodwill 2023-01-31 SC382699 d:Goodwill 2022-01-31 SC382699 d:CurrentFinancialInstruments 2023-01-31 SC382699 d:CurrentFinancialInstruments 2022-01-31 SC382699 d:Non-currentFinancialInstruments 2023-01-31 SC382699 d:Non-currentFinancialInstruments 2022-01-31 SC382699 d:CurrentFinancialInstruments d:WithinOneYear 2023-01-31 SC382699 d:CurrentFinancialInstruments d:WithinOneYear 2022-01-31 SC382699 d:Non-currentFinancialInstruments d:AfterOneYear 2023-01-31 SC382699 d:Non-currentFinancialInstruments d:AfterOneYear 2022-01-31 SC382699 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2023-01-31 SC382699 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2022-01-31 SC382699 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2023-01-31 SC382699 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2022-01-31 SC382699 d:ShareCapital 2023-01-31 SC382699 d:ShareCapital 2022-01-31 SC382699 d:RetainedEarningsAccumulatedLosses 2023-01-31 SC382699 d:RetainedEarningsAccumulatedLosses 2022-01-31 SC382699 c:FRS102 2022-02-01 2023-01-31 SC382699 c:AuditExempt-NoAccountantsReport 2022-02-01 2023-01-31 SC382699 c:FullAccounts 2022-02-01 2023-01-31 SC382699 c:PrivateLimitedCompanyLtd 2022-02-01 2023-01-31 SC382699 d:AcceleratedTaxDepreciationDeferredTax 2023-01-31 SC382699 d:AcceleratedTaxDepreciationDeferredTax 2022-01-31 SC382699 6 2022-02-01 2023-01-31 SC382699 d:MotorVehicles d:LeasedAssetsHeldAsLessee 2023-01-31 SC382699 d:MotorVehicles d:LeasedAssetsHeldAsLessee 2022-01-31 SC382699 d:LeasedAssetsHeldAsLessee 2023-01-31 SC382699 d:LeasedAssetsHeldAsLessee 2022-01-31 SC382699 d:Goodwill d:OwnedIntangibleAssets 2022-02-01 2023-01-31 iso4217:GBP xbrli:pure

Registered number: SC382699










AVOCHIE ESTATE (SPORTING) LIMITED








UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 JANUARY 2023

 
AVOCHIE ESTATE (SPORTING) LIMITED
REGISTERED NUMBER: SC382699

STATEMENT OF FINANCIAL POSITION
AS AT 31 JANUARY 2023

2023
2022
Note
£
£

Fixed assets
  

Intangible assets
 4 
32,009
40,011

Tangible assets
 5 
23,564
35,204

Investments
 6 
1,000
1,000

  
56,573
76,215

Current assets
  

Debtors: amounts falling due within one year
 7 
253,255
200,836

Cash at bank and in hand
 8 
29,364
2,349

  
282,619
203,185

Creditors: amounts falling due within one year
 9 
(367,337)
(356,072)

Net current liabilities
  
 
 
(84,718)
 
 
(152,887)

Total assets less current liabilities
  
(28,145)
(76,672)

Creditors: amounts falling due after more than one year
 10 
(30,000)
(40,000)

Provisions for liabilities
  

Deferred tax
 12 
-
(200)

  
 
 
-
 
 
(200)

Net liabilities
  
£(58,145)
£(116,872)


Capital and reserves
  

Called up share capital 
  
1
1

Profit and loss account
  
(58,146)
(116,873)

  
£(58,145)
£(116,872)


Page 1

 
AVOCHIE ESTATE (SPORTING) LIMITED
REGISTERED NUMBER: SC382699
    
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 31 JANUARY 2023

The director considers that the company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 21 November 2023.


Robert J G Shields
Director

The notes on pages 3 to 12 form part of these financial statements.

Page 2

 
AVOCHIE ESTATE (SPORTING) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2023

1.


General information

Avochie Estate (Sporting) Limited is a private company limited by shares and incorporated in England and Wales.  The registered number and office address are detailed on the company information page.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The following principal accounting policies have been applied:

 
2.2

Going concern

During the year the company has continued to trade profitability following the losses suffered during Covid.   The director is of the opinion that the going concern basis is an appropriate basis on which to prepare the accounts which assumes the ongoing support of the director.

 
2.3

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:
the company has transferred the significant risks and rewards of ownership to the buyer;
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 company will receive the consideration due under the transaction; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

Page 3

 
AVOCHIE ESTATE (SPORTING) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2023

2.Accounting policies (continued)

 
2.4

Intangible assets

Goodwill

Goodwill represents the difference between amounts paid on the cost of a business combination and the acquirer’s interest in the fair value of its identifiable assets and liabilities of the acquiree at the date of acquisition. Subsequent to initial recognition, goodwill is measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is amortised on a straight-line basis to the Statement of comprehensive income over its useful economic life.

Other intangible assets

Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

All intangible assets are considered to have a finite useful life. If a reliable estimate of the useful life cannot be made, the useful life shall not exceed ten years.

 
2.5

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Long Term Leasehold Property
-
20% on cost
Plant & machinery
-
33.33% on cost
Motor vehicles
-
25% on cost
Fixtures & fittings
-
20% on cost

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.6

Valuation of investments

Investments in subsidiaries are measured at cost less accumulated impairment.

Investments in unlisted company shares, whose market value can be reliably determined, are remeasured to market value at each reporting date. Gains and losses on remeasurement are recognised in the Statement of comprehensive income for the period. Where market value cannot be reliably determined, such investments are stated at historic cost less impairment.

Investments in listed company shares are remeasured to market value at each reporting date. Gains and losses on remeasurement are recognised in profit or loss for the period.

Page 4

 
AVOCHIE ESTATE (SPORTING) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2023

2.Accounting policies (continued)

 
2.7

Debtors

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.

 
2.8

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.9

Financial instruments

The company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.

 
2.10

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.

 
2.11

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.12

Operating leases: the company as lessee

Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term.

 
2.13

Pensions

Defined contribution pension plan

The company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the company pays fixed contributions into a separate entity. Once the contributions have been paid the company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Statement of financial position. The assets of the plan are held separately from the company in independently administered funds.

 
2.14

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

Page 5

 
AVOCHIE ESTATE (SPORTING) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2023

2.Accounting policies (continued)

 
2.15

Provisions for liabilities

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 profit or loss in the year that the company becomes aware of the obligation, and are measured at the best estimate at the reporting 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 Statement of financial position.

 
2.16

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the reporting date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.


3.


Employees

The average monthly number of employees, including directors, during the year was 9 (2022 -9).

Page 6

 
AVOCHIE ESTATE (SPORTING) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2023

4.


Intangible assets




Goodwill

£



Cost


At 1 February 2022
115,000



At 31 January 2023

115,000



Amortisation


At 1 February 2022
74,989


Charge for the year on owned assets
8,002



At 31 January 2023

82,991



Net book value



At 31 January 2023
£32,009



At 31 January 2022
£40,011



Page 7

 
AVOCHIE ESTATE (SPORTING) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2023

5.


Tangible fixed assets





Long  Term Leasehold Property
Plant & machinery
Motor vehicles
Fixtures & fittings
Total

£
£
£
£
£



Cost or valuation


At 1 February 2022
334,328
22,274
277,833
118,825
753,260


Additions
-
4,370
-
-
4,370



At 31 January 2023

334,328
26,644
277,833
118,825
757,630



Depreciation


At 1 February 2022
334,328
17,865
261,964
103,899
718,056


Charge for the year on owned assets
-
2,112
3,945
4,890
10,947


Charge for the year on financed assets
-
-
5,063
-
5,063



At 31 January 2023

334,328
19,977
270,972
108,789
734,066



Net book value



At 31 January 2023
£-
£6,667
£6,861
£10,036
£23,564



At 31 January 2022
£-
£4,409
£15,869
£14,926
£35,204

The net book value of assets held under finance leases or hire purchase contracts, included above, are as follows:


2023
2022
£
£



Motor vehicles
-
5,063

£-
£5,063

Page 8

 
AVOCHIE ESTATE (SPORTING) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2023

6.


Fixed asset investments





Unlisted investments

£



Cost or valuation


At 1 February 2022
1,000



At 31 January 2023
£1,000





7.


Debtors

2023
2022
£
£


Trade debtors
234,714
182,212

Prepayments and accrued income
18,541
18,624

£253,255
£200,836



8.


Cash and cash equivalents

2023
2022
£
£

Cash at bank and in hand
29,364
2,349

£29,364
£2,349


Page 9

 
AVOCHIE ESTATE (SPORTING) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2023

9.


Creditors: Amounts falling due within one year

2023
2022
£
£

Bank loans
10,000
10,000

Trade creditors
57,845
43,879

Corporation tax
17,447
21,385

Other taxation and social security
29,016
15,288

Obligations under finance lease and hire purchase contracts
-
5,337

Other creditors
245,267
250,067

Accruals and deferred income
7,762
10,116

£367,337
£356,072


The obligations under finance leases and hire purchase contracts are secured on the assets supplied under the contracts.


10.


Creditors: Amounts falling due after more than one year

2023
2022
£
£

Bank loans
30,000
40,000

£30,000
£40,000


Page 10

 
AVOCHIE ESTATE (SPORTING) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2023

11.


Loans


Analysis of the maturity of loans is given below:


2023
2022
£
£

Amounts falling due within one year

Bank loans
10,000
10,000


10,000
10,000

Amounts falling due 1-2 years

Bank loans
10,000
10,000


10,000
10,000

Amounts falling due 2-5 years

Bank loans
20,000
30,000


20,000
30,000


£40,000
£50,000


Page 11

 
AVOCHIE ESTATE (SPORTING) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2023

12.


Deferred taxation




2023
2022


£

£






At beginning of year
(200)
(300)


Charged to profit or loss
200
100



At end of year
£-
£(200)

The deferred taxation balance is made up as follows:

2023
2022
£
£


Accelerated capital allowances
-
(200)

£-
£(200)


13.


Pension commitments

The company operates a defined contribution pension scheme. The assets of the scheme are held separately from those of the company in a separately administered fund.  The pension cost charge represents contributions paid by the company to the fund and amounted to £6,550 (2022 - £6,139).


14.


Related party transactions

The balance outstanding on the directors loan account  owing to the director was £245,267  (2022 - £250,067).
 

 
Page 12