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 SC296241 Mr Ian Sneddon Mr James Brydie Mr James Brydie Ian Sneddon and James Brydie true iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure SC296241 2023-01-31 SC296241 2024-01-31 SC296241 2023-02-01 2024-01-31 SC296241 frs-core:CurrentFinancialInstruments 2024-01-31 SC296241 frs-core:ShareCapital 2024-01-31 SC296241 frs-core:RetainedEarningsAccumulatedLosses 2024-01-31 SC296241 frs-bus:PrivateLimitedCompanyLtd 2023-02-01 2024-01-31 SC296241 frs-bus:FilletedAccounts 2023-02-01 2024-01-31 SC296241 frs-bus:SmallEntities 2023-02-01 2024-01-31 SC296241 frs-bus:AuditExemptWithAccountantsReport 2023-02-01 2024-01-31 SC296241 frs-bus:SmallCompaniesRegimeForAccounts 2023-02-01 2024-01-31 SC296241 1 2023-02-01 2024-01-31 SC296241 frs-bus:Director1 2023-02-01 2024-01-31 SC296241 frs-bus:Director1 2023-01-31 SC296241 frs-bus:Director1 2024-01-31 SC296241 frs-bus:Director2 2023-02-01 2024-01-31 SC296241 frs-bus:Director2 2023-01-31 SC296241 frs-bus:Director2 2024-01-31 SC296241 frs-bus:CompanySecretary1 2023-02-01 2024-01-31 SC296241 frs-countries:Scotland 2023-02-01 2024-01-31 SC296241 2022-01-31 SC296241 2023-01-31 SC296241 2022-02-01 2023-01-31 SC296241 frs-core:CurrentFinancialInstruments 2023-01-31 SC296241 frs-core:ShareCapital 2023-01-31 SC296241 frs-core:RetainedEarningsAccumulatedLosses 2023-01-31
Registered number: SC296241
Muircockhall Developments Ltd.
Financial Statements
For The Year Ended 31 January 2024
Gillespie's Fife
Financial Statements
Contents
Page
Accountants' Report 1
Balance Sheet 2
Notes to the Financial Statements 3—4
Page 1
Accountants' Report
Chartered Accountants' report to the directors on the preparation of the unaudited statutory accounts of Muircockhall Developments Ltd. for the year ended 31 January 2024
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Muircockhall Developments Ltd. for the year ended 31 January 2024 which comprise the Profit and Loss Account, the Balance Sheet and the related notes from the company's accounting records and from information and explanations you have given to us.
As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at http://www.icaew.com/en/membership/regulations-standards-and-guidance.
This report is made solely to the directors of Muircockhall Developments Ltd. , as a body, in accordance with the terms of our engagement letter dated 25 February 2015. Our work has been undertaken solely to prepare for your approval the accounts of Muircockhall Developments Ltd. and state those matters that we have agreed to state to the directors of Muircockhall Developments Ltd. , as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Muircockhall Developments Ltd. and its directors, as a body, for our work or for this report.
It is your duty to ensure that Muircockhall Developments Ltd. has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit or loss of Muircockhall Developments Ltd. . You consider that Muircockhall Developments Ltd. is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit of the accounts of Muircockhall Developments Ltd. . For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the financial statements.
Signed
15th April 2024
Gillespie's Fife
Accountants
Fric Ajax Way
Methil
Leven
KY8 3RS
Page 1
Page 2
Balance Sheet
Registered number: SC296241
2024 2023
Notes £ £ £ £
CURRENT ASSETS
Stocks 4 285,069 259,962
Debtors 5 - 306
Cash at bank and in hand 8,458 9,828
293,527 270,096
Creditors: Amounts Falling Due Within One Year 6 (293,517 ) (269,977 )
NET CURRENT ASSETS (LIABILITIES) 10 119
TOTAL ASSETS LESS CURRENT LIABILITIES 10 119
NET ASSETS 10 119
CAPITAL AND RESERVES
Called up share capital 7 2 2
Profit and Loss Account 8 117
SHAREHOLDERS' FUNDS 10 119
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 Ian Sneddon
Director
15th April 2024
The notes on pages 3 to 4 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Muircockhall Developments Ltd. is a private company, limited by shares, incorporated in Scotland, registered number SC296241 . The registered office is George Johnston House, Bank Street, Lochgelly, KY5 9QN.
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. 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.
3. Average Number of Employees
Average number of employees, including directors, during the year was:
2024 2023
Office and administration 2 2
2 2
4. Stocks
2024 2023
£ £
Work in progress 285,069 259,962
5. Debtors
2024 2023
£ £
Due within one year
VAT - 306
- 306
Page 3
Page 4
6. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
VAT 1,981 -
Accruals and deferred income 580 521
Directors' loan accounts 290,956 269,456
293,517 269,977
7. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 2 2
8. Directors Advances, Credits and Guarantees
Included within Creditors are the following loans from directors:
As at 1 February 2023 Amounts advanced Amounts repaid Amounts written off As at 31 January 2024
£ £ £ £ £
Mr Ian Sneddon 134,728 11,000 (250 ) - 145,478
Mr James Brydie 134,728 11,000 (250 ) - 145,478
The above loans are unsecured, interest free and repayable on demand.
9. Ultimate Controlling Party
The company's ultimate controlling party is Ian Sneddon and James Brydie by virtue of their ownership of 100% of the issued share capital in the company.
Page 4