Acorah Software Products - Accounts Production 15.0.500 false true true 31 July 2022 1 August 2021 false 1 August 2022 31 July 2023 31 July 2023 SC667748 Mr M Welch Dr. K K Orr Mr A M Glasgow iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure SC667748 2022-07-31 SC667748 2023-07-31 SC667748 2022-08-01 2023-07-31 SC667748 frs-core:CurrentFinancialInstruments 2023-07-31 SC667748 frs-core:PlantMachinery 2023-07-31 SC667748 frs-core:PlantMachinery 2022-08-01 2023-07-31 SC667748 frs-core:PlantMachinery 2022-07-31 SC667748 frs-core:ShareCapital 2023-07-31 SC667748 frs-core:RetainedEarningsAccumulatedLosses 2023-07-31 SC667748 frs-bus:PrivateLimitedCompanyLtd 2022-08-01 2023-07-31 SC667748 frs-bus:FilletedAccounts 2022-08-01 2023-07-31 SC667748 frs-bus:SmallEntities 2022-08-01 2023-07-31 SC667748 frs-bus:AuditExempt-NoAccountantsReport 2022-08-01 2023-07-31 SC667748 frs-bus:SmallCompaniesRegimeForAccounts 2022-08-01 2023-07-31 SC667748 frs-bus:Director1 2022-08-01 2023-07-31 SC667748 frs-bus:Director2 2022-08-01 2023-07-31 SC667748 frs-bus:Director3 2022-08-01 2023-07-31 SC667748 frs-countries:Scotland 2022-08-01 2023-07-31 SC667748 2021-07-31 SC667748 2022-07-31 SC667748 2021-08-01 2022-07-31 SC667748 frs-core:CurrentFinancialInstruments 2022-07-31 SC667748 frs-core:ShareCapital 2022-07-31 SC667748 frs-core:RetainedEarningsAccumulatedLosses 2022-07-31
Registered number: SC667748
Kelpcrofters Ltd
Unaudited Financial Statements
For The Year Ended 31 July 2023
Sense Accounting Limited
36 Bruntsfield Place
Edinburgh
EH10 4HJ
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: SC667748
2023 2022
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 64,337 59,607
64,337 59,607
CURRENT ASSETS
Stock 5 9,750 10,000
Debtors 6 4,558 6,616
Cash at bank and in hand 14,317 4,790
28,625 21,406
Creditors: Amounts Falling Due Within One Year 7 (106,568 ) (104,866 )
NET CURRENT ASSETS (LIABILITIES) (77,943 ) (83,460 )
TOTAL ASSETS LESS CURRENT LIABILITIES (13,606 ) (23,853 )
NET LIABILITIES (13,606 ) (23,853 )
CAPITAL AND RESERVES
Called up share capital 8 300 300
Profit and Loss Account (13,906 ) (24,153 )
SHAREHOLDERS' FUNDS (13,606) (23,853)
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
Dr. K K Orr
Director
31 July 2024
The notes on pages 3 to 5 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Kelpcrofters Ltd is a private company, limited by shares, incorporated in Scotland, registered number SC667748 . The registered office is Corkil, Dubhaird, Plockton, Highland, IV52 8TU.
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. Going Concern Disclosure
The directors have carried out an assessment of the going concern position of the Company, including consideration of the company's net liability position. With due consideration of the current economic situation in the UK and beyond, and with their continued support, the directors have concluded that they have a reasonable expectation that the Company has adequate access to resources to continue as a going concern for a period of at least 12 months. Accordingly, they continue to adopt the going concern basis in preparing these financial statements.
2.3. 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. 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.
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:
Plant & Machinery 5-25 years straight line
2.5. 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.
Page 3
Page 4
2.6. Government Grant
Government grants are recognised in the profit and loss 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 profit and loss account. Grants towards general activities of the entity over a specific period are recognised in the profit and loss 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 profit and loss account over the useful life of the asset concerned.
All grants in the profit and loss account are recognised when all conditions for receipt have been complied with.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 4 (2022: 4)
4 4
4. Tangible Assets
Plant & Machinery
£
Cost
As at 1 August 2022 70,129
Additions 13,750
As at 31 July 2023 83,879
Depreciation
As at 1 August 2022 10,522
Provided during the period 9,020
As at 31 July 2023 19,542
Net Book Value
As at 31 July 2023 64,337
As at 1 August 2022 59,607
5. Stock
2023 2022
£ £
Materials 9,750 10,000
Page 4
Page 5
6. Debtors
2023 2022
£ £
Due within one year
Trade debtors - 2,430
Prepayments and accrued income 733 716
Other debtors 8 -
VAT 2,625 2,955
Other taxes and social security 1,192 515
4,558 6,616
7. Creditors: Amounts Falling Due Within One Year
2023 2022
£ £
Trade creditors - 3,761
Wages payable 3,345 1,943
Other creditors 6,010 6,010
Accruals and deferred income 62,875 51,506
Directors' loan accounts 34,338 41,646
106,568 104,866
8. Share Capital
2023 2022
£ £
Allotted, Called up and fully paid 300 300
9. Related Party Transactions
At 31 July 2023 the company owed £9,554, £11,687 and £13,097 (2022: £12,122, £11,689 and £17,835) to the directors, Mr M Welch, Mr A M Glasgow and Dr K K Orr, respectively. 
Page 5