Acorah Software Products - Accounts Production 14.5.601 false true 30 September 2022 1 October 2021 false 1 October 2022 30 September 2023 30 September 2023 SC132298 Mr Duncan Kennedy Mrs Helen Kennedy iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure SC132298 2022-09-30 SC132298 2023-09-30 SC132298 2022-10-01 2023-09-30 SC132298 frs-core:CurrentFinancialInstruments 2023-09-30 SC132298 frs-core:ComputerEquipment 2023-09-30 SC132298 frs-core:ComputerEquipment 2022-10-01 2023-09-30 SC132298 frs-core:ComputerEquipment 2022-09-30 SC132298 frs-core:FurnitureFittings 2023-09-30 SC132298 frs-core:FurnitureFittings 2022-10-01 2023-09-30 SC132298 frs-core:FurnitureFittings 2022-09-30 SC132298 frs-core:InvestmentPropertyIncludedWithinPPE 2023-09-30 SC132298 frs-core:InvestmentPropertyIncludedWithinPPE 2022-10-01 2023-09-30 SC132298 frs-core:InvestmentPropertyIncludedWithinPPE 2022-09-30 SC132298 frs-core:PlantMachinery 2023-09-30 SC132298 frs-core:PlantMachinery 2022-10-01 2023-09-30 SC132298 frs-core:PlantMachinery 2022-09-30 SC132298 frs-core:RevaluationReserve 2022-10-01 2023-09-30 SC132298 frs-core:RevaluationReserve 2022-09-30 SC132298 frs-core:RevaluationReserve 2023-09-30 SC132298 frs-core:ShareCapital 2023-09-30 SC132298 frs-core:RetainedEarningsAccumulatedLosses 2023-09-30 SC132298 frs-bus:PrivateLimitedCompanyLtd 2022-10-01 2023-09-30 SC132298 frs-bus:FilletedAccounts 2022-10-01 2023-09-30 SC132298 frs-bus:SmallEntities 2022-10-01 2023-09-30 SC132298 frs-bus:AuditExempt-NoAccountantsReport 2022-10-01 2023-09-30 SC132298 frs-bus:SmallCompaniesRegimeForAccounts 2022-10-01 2023-09-30 SC132298 frs-bus:Director1 2022-10-01 2023-09-30 SC132298 frs-bus:Director1 2022-09-30 SC132298 frs-bus:Director1 2023-09-30 SC132298 frs-bus:CompanySecretary1 2022-10-01 2023-09-30 SC132298 frs-core:CurrentFinancialInstruments 1 2023-09-30 SC132298 frs-core:CurrentFinancialInstruments 2 2023-09-30 SC132298 frs-countries:Scotland 2022-10-01 2023-09-30 SC132298 2021-09-30 SC132298 2022-09-30 SC132298 2021-10-01 2022-09-30 SC132298 frs-core:CurrentFinancialInstruments 2022-09-30 SC132298 frs-core:RevaluationReserve 2022-09-30 SC132298 frs-core:ShareCapital 2022-09-30 SC132298 frs-core:RetainedEarningsAccumulatedLosses 2022-09-30 SC132298 frs-core:CurrentFinancialInstruments 1 2022-09-30 SC132298 frs-core:CurrentFinancialInstruments 2 2022-09-30
Registered number: SC132298
D.A.Kennedy (Developments) Limited
Financial Statements
For The Year Ended 30 September 2023
Gillespie's
Chartered Accountants
33 Leslie Street
Blairgowrie
Perthshire
PH10 6AW
Financial Statements
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: SC132298
2023 2022
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 3 907,187 926,969
907,187 926,969
CURRENT ASSETS
Stocks 4 - 57,280
Debtors 5 11,390 11,635
Cash at bank and in hand 259,563 114,486
270,953 183,401
Creditors: Amounts Falling Due Within One Year 6 (33,468 ) (27,146 )
NET CURRENT ASSETS (LIABILITIES) 237,485 156,255
TOTAL ASSETS LESS CURRENT LIABILITIES 1,144,672 1,083,224
PROVISIONS FOR LIABILITIES
Deferred Taxation (212 ) (273 )
NET ASSETS 1,144,460 1,082,951
CAPITAL AND RESERVES
Called up share capital 7 3,000 3,000
Revaluation reserve 9 112,471 115,831
Profit and Loss Account 1,028,989 964,120
SHAREHOLDERS' FUNDS 1,144,460 1,082,951
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Page 2
For the year ending 30 September 2023 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 his 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
Mr Duncan Kennedy
Director
26th March 2024
The notes on pages 3 to 5 form part of these financial statements.
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Page 3
Notes to the Financial Statements
1. Accounting Policies
1.1. 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.
1.2. Turnover
Turnover comprises the invoiced value of rents received by the company, net of Value Added Tax and trade discounts.
1.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are stated at cost less depreciation. 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 25% reducing balance
Fixtures & Fittings 10% straight line
Computer Equipment 25% reducing balance
1.4. Investment Properties
Investment properties shall not be subject to periodic charges for depreciation except for properties held on lease, which shall be depreciated at least over the period when the unexpired term is 20 years or less.
Investment properties shall be included in the balance sheet at their market value.
1.5. Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
1.6. Taxation
Corporation 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 year 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 asset reflects 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 or deferred tax for the year is recognised in profit or loss, except when they related 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.
2. Average Number of Employees
Average number of employees, including directors, during the year was as follows:
2023 2022
Office and administration 2 2
2 2
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3. Tangible Assets
Investment Properties Plant & Machinery Fixtures & Fittings Computer Equipment Total
£ £ £ £ £
Cost or Valuation
As at 1 October 2022 925,530 3,150 388 458 929,526
Additions 3,469 - - - 3,469
Disposals (80,210 ) - - - (80,210 )
Revaluation 57,280 - - - 57,280
As at 30 September 2023 906,069 3,150 388 458 910,065
Depreciation
As at 1 October 2022 - 2,021 78 458 2,557
Provided during the period - 283 38 - 321
As at 30 September 2023 - 2,304 116 458 2,878
Net Book Value
As at 30 September 2023 906,069 846 272 - 907,187
As at 1 October 2022 925,530 1,129 310 - 926,969
4. Stocks
2023 2022
£ £
Stock - work in progress - 57,280
5. Debtors
2023 2022
£ £
Due within one year
Trade debtors 8,658 8,964
Prepayments and accrued income 2,732 2,671
11,390 11,635
6. Creditors: Amounts Falling Due Within One Year
2023 2022
£ £
Trade creditors - 1,750
Corporation tax 16,764 11,456
Other taxes and social security 71 71
VAT 1,318 1,023
Rental deposits 6,924 5,471
Rent in advance 5,990 4,750
Accruals and deferred income 2,300 2,524
Director's loan account 101 101
33,468 27,146
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7. Share Capital
2023 2022
£ £
Allotted, Called up and fully paid 3,000 3,000
8. Directors Advances, Credits and Guarantees
Included within Creditors is the following loan from the director:
As at 1 October 2022 Amounts advanced Amounts repaid Amounts written off As at 30 September 2023
£ £ £ £ £
Mr Duncan Kennedy 101 - - - 101
The above loan is unsecured, interest free and repayable on demand.
Dividends paid to directors
2023 2022
£ £
Mr Duncan Kennedy - 10,000
9. Reserves
Revaluation Reserve
£
As at 1 October 2022 115,831
Surplus on revaluation (3,360 )
As at 30 September 2023 112,471
10. General Information
D.A.Kennedy (Developments) Limited is a private company, limited by shares, incorporated in Scotland, registered number SC132298 . The registered office is Midfield, Perth Road, Abernethy, Perthshire, PH2 9LW.
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