Acorah Software Products - Accounts Production 14.5.501 false true 31 March 2022 1 April 2021 false 1 April 2022 31 March 2023 31 March 2023 SC656505 Mr Derek Lewis Mr Robert Campbell iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure SC656505 2022-03-31 SC656505 2023-03-31 SC656505 2022-04-01 2023-03-31 SC656505 frs-core:CurrentFinancialInstruments 2023-03-31 SC656505 frs-core:Non-currentFinancialInstruments 2023-03-31 SC656505 frs-core:DevelopmentCostsCapitalisedDevelopmentExpenditure 2022-04-01 2023-03-31 SC656505 frs-core:LandBuildings frs-core:LeasedAssetsHeldAsLessee 2023-03-31 SC656505 frs-core:LandBuildings frs-core:LeasedAssetsHeldAsLessee 2022-04-01 2023-03-31 SC656505 frs-core:LandBuildings frs-core:LeasedAssetsHeldAsLessee 2022-03-31 SC656505 frs-core:OtherResidualIntangibleAssets 2023-03-31 SC656505 frs-core:OtherResidualIntangibleAssets 2022-04-01 2023-03-31 SC656505 frs-core:OtherResidualIntangibleAssets 2022-03-31 SC656505 frs-core:RetainedEarningsAccumulatedLosses 2023-03-31 SC656505 frs-bus:CompanyLimitedByGuarantee 2022-04-01 2023-03-31 SC656505 frs-bus:FilletedAccounts 2022-04-01 2023-03-31 SC656505 frs-bus:SmallEntities 2022-04-01 2023-03-31 SC656505 frs-bus:AuditExempt-NoAccountantsReport 2022-04-01 2023-03-31 SC656505 frs-bus:SmallCompaniesRegimeForAccounts 2022-04-01 2023-03-31 SC656505 frs-bus:Director1 2022-04-01 2023-03-31 SC656505 frs-bus:Director2 2022-04-01 2023-03-31 SC656505 frs-countries:Scotland 2022-04-01 2023-03-31 SC656505 2021-03-31 SC656505 2022-03-31 SC656505 2021-04-01 2022-03-31 SC656505 frs-core:CurrentFinancialInstruments 2022-03-31 SC656505 frs-core:Non-currentFinancialInstruments 2022-03-31 SC656505 frs-core:RetainedEarningsAccumulatedLosses 2022-03-31
Registered number: SC656505
Drimnin Timber Transport Limited
Financial Statements
For The Year Ended 31 March 2023
Hill Wooldridge Accountants Ltd
Chartered Certified Accountants
55 Crown Street
Brentwood
Essex
CM14 4BD
Financial Statements
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: SC656505
2023 2022
Notes £ £ £ £
FIXED ASSETS
Intangible Assets 4 264,686 285,047
Tangible Assets 5 1,235,954 1,202,434
1,500,640 1,487,481
CURRENT ASSETS
Debtors 6 505 7,232
Cash at bank and in hand 2,444 78,272
2,949 85,504
Creditors: Amounts Falling Due Within One Year 7 (49,164 ) (85,906 )
NET CURRENT ASSETS (LIABILITIES) (46,215 ) (402 )
TOTAL ASSETS LESS CURRENT LIABILITIES 1,454,425 1,487,079
Creditors: Amounts Falling Due After More Than One Year 8 (1,467,206 ) (1,497,332 )
NET LIABILITIES (12,781 ) (10,253 )
Income and Expenditure Account (12,781 ) (10,253 )
MEMBERS' FUNDS (12,781) (10,253)
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Page 2
For the year ending 31 March 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 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 Income and Expenditure Account.
On behalf of the board
Mr Derek Lewis
Director
28th March 2024
The notes on pages 3 to 5 form part of these financial statements.
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Notes to the Financial Statements
1. General Information
Drimnin Timber Transport Limited is a private company, limited by guarantee, incorporated in Scotland, registered number SC656505 . The registered office is Drimnin House, Drimnin, Oban, PA80 5XZ.
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 - Other Intangible
Other intangible assets are lease premuiums, which are amortised to income and expenditure account over the 15 year initial term of the lease.
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:
Leasehold 6.67% of cost per year
2.5. Government Grant
Government grants are recognised in the income and expenditure 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 income and expenditure account. Grants towards general activities of the entity over a specific period are recognised in the income and expenditure 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 income and expenditure account over the useful life of the asset concerned.
All grants in the income and expenditure account are recognised when all conditions for receipt have been complied with.
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3. Average Number of Employees
Average number of employees, including directors, during the year was: NIL (2022: NIL)
- -
4. Intangible Assets
Lease premium and servitude
£
Cost
As at 1 April 2022 305,408
As at 31 March 2023 305,408
Amortisation
As at 1 April 2022 20,361
Provided during the period 20,361
As at 31 March 2023 40,722
Net Book Value
As at 31 March 2023 264,686
As at 1 April 2022 285,047
5. Tangible Assets
Land & Property
Leasehold
£
Cost
As at 1 April 2022 1,288,322
Additions 128,593
As at 31 March 2023 1,416,915
Depreciation
As at 1 April 2022 85,888
Provided during the period 95,073
As at 31 March 2023 180,961
Net Book Value
As at 31 March 2023 1,235,954
As at 1 April 2022 1,202,434
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6. Debtors
2023 2022
£ £
Due within one year
VAT 505 7,232
505 7,232
7. Creditors: Amounts Falling Due Within One Year
2023 2022
£ £
Trade creditors 29 43,393
Owners capital contributions 28,676 20,105
Accruals and deferred income 1,140 3,090
Access fees for future periods 19,319 19,318
49,164 85,906
8. Creditors: Amounts Falling Due After More Than One Year
2023 2022
£ £
Long term owners capital contributions 344,122 261,370
Government grants after one year 891,253 959,811
Directors loan account - 25,000
Long term access fees for future periods 231,831 251,151
1,467,206 1,497,332
9. Company limited by guarantee
The company is limited by guarantee and has no share capital.
Every member of the company undertakes to contribute to the assets of the company, in the event of a winding up, such an amount as may be required not exceeding £1.
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