Acorah Software Products - Accounts Production 15.0.500 false true 31 July 2022 1 August 2021 false 1 August 2022 31 July 2023 31 July 2023 SC345391 Mr Alan McIntosh Miss Rachael McIntosh Mrs Tracy McIntosh Miss Rachael McIntosh iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure SC345391 2022-07-31 SC345391 2023-07-31 SC345391 2022-08-01 2023-07-31 SC345391 frs-core:CurrentFinancialInstruments 2023-07-31 SC345391 frs-core:Non-currentFinancialInstruments 2023-07-31 SC345391 frs-core:FurnitureFittings 2022-08-01 2023-07-31 SC345391 frs-core:NetGoodwill 2023-07-31 SC345391 frs-core:NetGoodwill 2022-08-01 2023-07-31 SC345391 frs-core:NetGoodwill 2022-07-31 SC345391 frs-core:LandBuildings 2023-07-31 SC345391 frs-core:LandBuildings 2022-08-01 2023-07-31 SC345391 frs-core:LandBuildings 2022-07-31 SC345391 frs-core:LandBuildings frs-core:OwnedOrFreeholdAssets 2022-08-01 2023-07-31 SC345391 frs-core:MotorVehicles 2022-08-01 2023-07-31 SC345391 frs-core:PlantMachinery 2023-07-31 SC345391 frs-core:PlantMachinery 2022-08-01 2023-07-31 SC345391 frs-core:PlantMachinery 2022-07-31 SC345391 frs-core:ShareCapital 2023-07-31 SC345391 frs-core:RetainedEarningsAccumulatedLosses 2023-07-31 SC345391 frs-bus:PrivateLimitedCompanyLtd 2022-08-01 2023-07-31 SC345391 frs-bus:FilletedAccounts 2022-08-01 2023-07-31 SC345391 frs-bus:SmallEntities 2022-08-01 2023-07-31 SC345391 frs-bus:AuditExempt-NoAccountantsReport 2022-08-01 2023-07-31 SC345391 frs-bus:SmallCompaniesRegimeForAccounts 2022-08-01 2023-07-31 SC345391 frs-bus:Director1 2022-08-01 2023-07-31 SC345391 frs-bus:Director2 2022-08-01 2023-07-31 SC345391 frs-bus:Director3 2022-08-01 2023-07-31 SC345391 frs-bus:CompanySecretary1 2022-08-01 2023-07-31 SC345391 frs-countries:Scotland 2022-08-01 2023-07-31 SC345391 2021-07-31 SC345391 2022-07-31 SC345391 2021-08-01 2022-07-31 SC345391 frs-core:CurrentFinancialInstruments 2022-07-31 SC345391 frs-core:Non-currentFinancialInstruments 2022-07-31 SC345391 frs-core:ShareCapital 2022-07-31 SC345391 frs-core:RetainedEarningsAccumulatedLosses 2022-07-31
Registered number: SC345391
Castle Cars (Highland) Limited
Financial Statements
For The Year Ended 31 July 2023
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—6
Page 1
Balance Sheet
Registered number: SC345391
2023 2022
Notes £ £ £ £
FIXED ASSETS
Intangible Assets 4 7,500 9,000
Tangible Assets 5 102,035 98,701
109,535 107,701
CURRENT ASSETS
Stocks 6 345,785 237,216
Debtors 7 5,214 23,900
Cash at bank and in hand 36,188 31,030
387,187 292,146
Creditors: Amounts Falling Due Within One Year 8 (287,837 ) (175,766 )
NET CURRENT ASSETS (LIABILITIES) 99,350 116,380
TOTAL ASSETS LESS CURRENT LIABILITIES 208,885 224,081
Creditors: Amounts Falling Due After More Than One Year 9 (16,965 ) (26,789 )
PROVISIONS FOR LIABILITIES
Deferred Taxation (2,808 ) (2,174 )
NET ASSETS 189,112 195,118
CAPITAL AND RESERVES
Called up share capital 10 3 3
Profit and Loss Account 189,109 195,115
SHAREHOLDERS' FUNDS 189,112 195,118
Page 1
Page 2
For the year ending 31 July 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 Profit and Loss Account.
On behalf of the board
Mr Alan McIntosh
Director
30/07/2023
The notes on pages 3 to 6 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Castle Cars (Highland) Limited is a private company, limited by shares, incorporated in Scotland, registered number SC345391 . The registered office is Unit 16 Tomich Industrial Estate, Tomich, Muir Of Ord, Ross-Shire, IV6 7WA.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
These financial statements have been prepared in accordance with the FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" ("FRS 102") and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regieme. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
2.2. Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
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 20 years.
2.4. 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:
Freehold Is not depreciated
Plant & Machinery 25% reducing balance
Motor Vehicles 25% reducing balance
Fixtures & Fittings 25% reducing balance
2.5. Stocks and Work in Progress
Stocks 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. 
2.6. Financial Instruments
The company has elected to apply the provisions of Section 11 'Basic Financial Instruments' and Section 12 'Other Financial Instruments Issues' of FRS 102 to all of its financial instruments.
Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.
Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.
Basic financial assets
Basic financial assets, which include debtors andcash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.
Impairment of financial assets
Financial assets, other than those held at fair value through profit and loss, are assessed for indicators of impairment at each reporting end date.
Derecognition of financial assets
Financial assets are derecognised only when the contractual rights to the cash flows from the asset expire or are settled, or when the company transfers the financial assets and substantially all the risks and rewards of ownership to another entity.
Basic financial liabilities
...CONTINUED
Page 3
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2.6. Financial Instruments - continued
Basic financial liabilities, including trade and other creditors, are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measure at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.
Debt instruments are subsequently carried at amortised cost, using the effective interest rate method. 
2.7. Taxation
The tax expense represents the sum of the tax currently payable and deferred tax.
Current tax
The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes 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
Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affect neither the tax profit nor the accounting profit.

Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.
2.8. Equity instruments
Equity instruments issued by the company are recorded at the proceeds received, net of transactions costs. Dividends payable on equity instrumets are recognised as liabilities once they are no longer at the discretion of the company.
2.9. Cash and cash equivalents
Cash and cash equivalents are basic financial assets and include cash at bank. Bank overdrafts are shown within borrowings in current liabilities.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 6 (2022: 3)
6 3
4. Intangible Assets
Goodwill
£
Cost
As at 1 August 2022 30,000
As at 31 July 2023 30,000
Amortisation
As at 1 August 2022 21,000
Provided during the period 1,500
As at 31 July 2023 22,500
Net Book Value
As at 31 July 2023 7,500
As at 1 August 2022 9,000
Page 4
Page 5
5. Tangible Assets
Land & Buildings Plant & Machinery etc. Total
£ £ £
Cost
As at 1 August 2022 87,256 19,325 106,581
Additions - 8,348 8,348
As at 31 July 2023 87,256 27,673 114,929
Depreciation
As at 1 August 2022 - 7,880 7,880
Provided during the period - 5,014 5,014
As at 31 July 2023 - 12,894 12,894
Net Book Value
As at 31 July 2023 87,256 14,779 102,035
As at 1 August 2022 87,256 11,445 98,701
Included above are assets held under finance leases or hire purchase contracts with a net book value as follows:
6. Stocks
2023 2022
£ £
Stocks 345,785 237,216
7. Debtors
2023 2022
£ £
Due within one year
Other debtors 5,214 23,900
8. Creditors: Amounts Falling Due Within One Year
2023 2022
£ £
Trade creditors 140,960 40,331
Bank loans and overdrafts 10,000 10,000
Other creditors 56,807 37,452
Taxation and social security 80,070 87,983
287,837 175,766
The obligations under hire purchase contracts are secured over the assets which the agreements relate to. 
9. Creditors: Amounts Falling Due After More Than One Year
2023 2022
£ £
Bank loans 16,965 26,789
The obligations under hire purchase contracts are secured over the assets which the agreements relate to. 
Page 5
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10. Share Capital
2023 2022
£ £
Allotted, Called up and fully paid 3 3
Page 6