Acorah Software Products - Accounts Production 14.5.601 false true 31 January 2023 1 February 2022 false 1 February 2023 31 January 2024 31 January 2024 SC121866 Mr Daniel Gardiner Mrs Julie Gardiner Mr Colin Roe Daniel & Julie A Gardiner false iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure SC121866 2023-01-31 SC121866 2024-01-31 SC121866 2023-02-01 2024-01-31 SC121866 frs-core:CurrentFinancialInstruments 2024-01-31 SC121866 frs-core:Non-currentFinancialInstruments 2024-01-31 SC121866 frs-core:FurnitureFittings 2024-01-31 SC121866 frs-core:FurnitureFittings 2023-02-01 2024-01-31 SC121866 frs-core:FurnitureFittings 2023-01-31 SC121866 frs-core:NetGoodwill 2024-01-31 SC121866 frs-core:NetGoodwill 2023-02-01 2024-01-31 SC121866 frs-core:NetGoodwill 2023-01-31 SC121866 frs-core:LandBuildings frs-core:OwnedOrFreeholdAssets 2024-01-31 SC121866 frs-core:LandBuildings frs-core:OwnedOrFreeholdAssets 2023-02-01 2024-01-31 SC121866 frs-core:LandBuildings frs-core:OwnedOrFreeholdAssets 2023-01-31 SC121866 frs-core:PlantMachinery 2024-01-31 SC121866 frs-core:PlantMachinery 2023-02-01 2024-01-31 SC121866 frs-core:PlantMachinery 2023-01-31 SC121866 frs-core:RevaluationReserve 2023-01-31 SC121866 frs-core:RevaluationReserve 2024-01-31 SC121866 frs-core:ShareCapital 2024-01-31 SC121866 frs-core:RetainedEarningsAccumulatedLosses 2024-01-31 SC121866 frs-bus:PrivateLimitedCompanyLtd 2023-02-01 2024-01-31 SC121866 frs-bus:FilletedAccounts 2023-02-01 2024-01-31 SC121866 frs-bus:SmallEntities 2023-02-01 2024-01-31 SC121866 frs-bus:AuditExempt-NoAccountantsReport 2023-02-01 2024-01-31 SC121866 frs-bus:SmallCompaniesRegimeForAccounts 2023-02-01 2024-01-31 SC121866 1 2023-02-01 2024-01-31 SC121866 frs-core:DeferredTaxation 2023-02-01 2024-01-31 SC121866 frs-core:DeferredTaxation 2023-01-31 SC121866 frs-core:DeferredTaxation 2024-01-31 SC121866 frs-bus:Director1 2023-02-01 2024-01-31 SC121866 frs-bus:Director2 2023-02-01 2024-01-31 SC121866 frs-bus:Director3 2023-02-01 2024-01-31 SC121866 frs-core:CurrentFinancialInstruments 1 2024-01-31 SC121866 frs-countries:Scotland 2023-02-01 2024-01-31 SC121866 2022-01-31 SC121866 2023-01-31 SC121866 2022-02-01 2023-01-31 SC121866 frs-core:CurrentFinancialInstruments 2023-01-31 SC121866 frs-core:Non-currentFinancialInstruments 2023-01-31 SC121866 frs-core:RevaluationReserve 2023-01-31 SC121866 frs-core:ShareCapital 2023-01-31 SC121866 frs-core:RetainedEarningsAccumulatedLosses 2023-01-31 SC121866 frs-core:CurrentFinancialInstruments 1 2023-01-31
Registered number: SC121866
The Paisley Property Letting Centre Limited
Unaudited Financial Statements
For The Year Ended 31 January 2024
Hawthorn Tax
Unaudited Financial Statements
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—6
Page 1
Balance Sheet
Registered number: SC121866
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 5 316,514 318,856
316,514 318,856
CURRENT ASSETS
Debtors 6 261,893 195,748
Cash at bank and in hand 75,901 71,292
337,794 267,040
Creditors: Amounts Falling Due Within One Year 7 (98,907 ) (103,138 )
NET CURRENT ASSETS (LIABILITIES) 238,887 163,902
TOTAL ASSETS LESS CURRENT LIABILITIES 555,401 482,758
Creditors: Amounts Falling Due After More Than One Year 8 (15,953 ) (37,517 )
PROVISIONS FOR LIABILITIES
Deferred Taxation 9 (2,879 ) (3,354 )
NET ASSETS 536,569 441,887
CAPITAL AND RESERVES
Called up share capital 11 10,000 10,000
Revaluation reserve 13 62,737 62,737
Profit and Loss Account 463,832 369,150
SHAREHOLDERS' FUNDS 536,569 441,887
Page 1
Page 2
For the year ending 31 January 2024 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 Profit and Loss Account.
On behalf of the board
Mr Colin Roe
Director
16/04/2024
The notes on pages 3 to 6 form part of these financial statements.
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Page 3
Notes to the Financial Statements
1. General Information
The Paisley Property Letting Centre Limited is a private company, limited by shares, incorporated in Scotland, registered number SC121866 . The registered office is Suite 3, 3rd Floor, Merlin House, 20 Mossland Road, Hillington Park, Glasgow, G52 4XZ.
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 - Goodwill
Goodwill is the difference between amounts paid on the acquisition of a business and the fair value of the separable net assets. It is amortised to profit and loss account over its estimated economic life of .... years.
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:
Freehold 0%
Plant & Machinery 15% RB
Fixtures & Fittings 20% RB
2.5. 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 statement of comprehensive income 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 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 assets reflect 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.
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3. Average Number of Employees
Average number of employees, including directors, during the year was: 14 (2023: 14)
14 14
4. Intangible Assets
Goodwill
£
Cost
As at 1 February 2023 523,190
As at 31 January 2024 523,190
Amortisation
As at 1 February 2023 523,190
As at 31 January 2024 523,190
5. Tangible Assets
Land & Property
Freehold Plant & Machinery Fixtures & Fittings Total
£ £ £ £
Cost
As at 1 February 2023 305,000 77,492 35,205 417,697
As at 31 January 2024 305,000 77,492 35,205 417,697
Depreciation
As at 1 February 2023 - 68,882 29,959 98,841
Provided during the period - 1,292 1,050 2,342
As at 31 January 2024 - 70,174 31,009 101,183
Net Book Value
As at 31 January 2024 305,000 7,318 4,196 316,514
As at 1 February 2023 305,000 8,610 5,246 318,856
6. Debtors
2024 2023
£ £
Due within one year
Other debtors 1,275 4,030
Net wages 300 -
Directors' loan accounts 2,871 2,871
Amounts owed by group undertakings 257,447 188,847
261,893 195,748
Page 4
Page 5
7. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 13,635 10,786
Bank loans and overdrafts 15,627 20,643
Corporation tax 46,440 45,974
Other taxes and social security 3,340 3,102
VAT 18,811 20,356
Pension Creditor 1,054 2,277
98,907 103,138
8. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Bank loans 15,953 37,517
15,953 37,517
9. Deferred Taxation
The provision for deferred tax is made up as follows:
2024 2023
£ £
Other timing differences 2,879 3,354
10. Provisions for Liabilities
Deferred Tax Total
£ £
As at 1 February 2023 3,354 3,354
Reversals (475 ) (475)
Balance at 31 January 2024 2,879 2,879
11. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 10,000 10,000
12. Dividends
2024 2023
£ £
On equity shares:
Interim dividend paid 51,900 84,500
51,900 84,500
Page 5
Page 6
13. Reserves
Revaluation Reserve
£
As at 1 February 2023 62,737
As at 31 January 2024 62,737
14. Related Party Transactions
Directors remuneration totalled £17,910 for the period (2023: £20,981).
15. Controlling Party
The company's controlling parties are Daniel & Julie A Gardiner by virtue of their holdings of the issued share capital in the company.
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