Acorah Software Products - Accounts Production 15.0.400 false true 30 June 2023 1 July 2022 false 1 July 2023 30 June 2024 30 June 2024 SC509982 Mr Alexander Laing Alexander Laing true iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure SC509982 2023-06-30 SC509982 2024-06-30 SC509982 2023-07-01 2024-06-30 SC509982 frs-core:CurrentFinancialInstruments 2024-06-30 SC509982 frs-core:ComputerEquipment 2024-06-30 SC509982 frs-core:ComputerEquipment 2023-07-01 2024-06-30 SC509982 frs-core:ComputerEquipment 2023-06-30 SC509982 frs-core:MotorVehicles 2024-06-30 SC509982 frs-core:MotorVehicles 2023-07-01 2024-06-30 SC509982 frs-core:MotorVehicles 2023-06-30 SC509982 frs-core:PlantMachinery 2024-06-30 SC509982 frs-core:PlantMachinery 2023-07-01 2024-06-30 SC509982 frs-core:PlantMachinery 2023-06-30 SC509982 frs-core:ShareCapital 2024-06-30 SC509982 frs-core:RetainedEarningsAccumulatedLosses 2024-06-30 SC509982 frs-bus:PrivateLimitedCompanyLtd 2023-07-01 2024-06-30 SC509982 frs-bus:FilletedAccounts 2023-07-01 2024-06-30 SC509982 frs-bus:SmallEntities 2023-07-01 2024-06-30 SC509982 frs-bus:AuditExemptWithAccountantsReport 2023-07-01 2024-06-30 SC509982 frs-bus:SmallCompaniesRegimeForAccounts 2023-07-01 2024-06-30 SC509982 1 2023-07-01 2024-06-30 SC509982 frs-bus:Director1 2023-07-01 2024-06-30 SC509982 frs-bus:Director1 2023-06-30 SC509982 frs-bus:Director1 2024-06-30 SC509982 frs-countries:Scotland 2023-07-01 2024-06-30 SC509982 2022-06-30 SC509982 2023-06-30 SC509982 2022-07-01 2023-06-30 SC509982 frs-core:CurrentFinancialInstruments 2023-06-30 SC509982 frs-core:ShareCapital 2023-06-30 SC509982 frs-core:RetainedEarningsAccumulatedLosses 2023-06-30
Registered number: SC509982
T & A Laing Limited
Financial Statements
For The Year Ended 30 June 2024
Gillespie's Fife
Contents
Page
Accountants' Report 1
Balance Sheet 2—3
Notes to the Financial Statements 4—6
Page 1
Accountants' Report
Chartered Accountants' report to the director on the preparation of the unaudited statutory accounts of T & A Laing Limited for the year ended 30 June 2024
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of T & A Laing Limited for the year ended 30 June 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 director of T & A Laing Limited , as a body, in accordance with the terms of our engagement letter dated 02 July 2015. Our work has been undertaken solely to prepare for your approval the accounts of T & A Laing Limited and state those matters that we have agreed to state to the director of T & A Laing Limited , 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 T & A Laing Limited and its director, as a body, for our work or for this report.
It is your duty to ensure that T & A Laing Limited 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 T & A Laing Limited . You consider that T & A Laing Limited is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit of the accounts of T & A Laing Limited . 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
23rd July 2024
Gillespie's Fife
Accountants
Fric Ajax Way
Methil
Leven
KY8 3RS
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Page 2
Balance Sheet
Registered number: SC509982
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 29,130 38,198
29,130 38,198
CURRENT ASSETS
Debtors 5 56,969 52,347
Cash at bank and in hand 70,887 72,785
127,856 125,132
Creditors: Amounts Falling Due Within One Year 6 (21,779 ) (20,046 )
NET CURRENT ASSETS (LIABILITIES) 106,077 105,086
TOTAL ASSETS LESS CURRENT LIABILITIES 135,207 143,284
PROVISIONS FOR LIABILITIES
Deferred Taxation (5,535 ) (7,258 )
NET ASSETS 129,672 136,026
CAPITAL AND RESERVES
Called up share capital 7 200 200
Profit and Loss Account 129,472 135,826
SHAREHOLDERS' FUNDS 129,672 136,026
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For the year ending 30 June 2024 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 Alexander Laing
Director
23rd July 2024
The notes on pages 4 to 6 form part of these financial statements.
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Notes to the Financial Statements
1. General Information
T & A Laing Limited is a private company, limited by shares, incorporated in Scotland, registered number SC509982 . The registered office is 74 Langside Drive, Kennoway, Fife, KY8 5LQ.
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. 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 25% Reducing balance
Motor Vehicles 25% Reducing balance
Computer Equipment 33.33% Reducing balance
2.4. 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 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:
2024 2023
Manufacturing 2 2
2 2
4. Tangible Assets
Plant & Machinery Motor Vehicles Computer Equipment Total
£ £ £ £
Cost
As at 1 July 2023 3,397 79,499 2,944 85,840
Additions 144 - 666 810
As at 30 June 2024 3,541 79,499 3,610 86,650
Depreciation
As at 1 July 2023 2,276 43,240 2,126 47,642
Provided during the period 318 9,065 495 9,878
As at 30 June 2024 2,594 52,305 2,621 57,520
Net Book Value
As at 30 June 2024 947 27,194 989 29,130
As at 1 July 2023 1,121 36,259 818 38,198
5. Debtors
2024 2023
£ £
Due within one year
Prepayments and accrued income 486 413
VAT 283 445
Other taxes and social security 16,594 17,612
Director's loan account 39,606 33,877
56,969 52,347
6. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 1 -
Corporation tax 8,208 8,541
Other creditors 12,285 10,285
Accruals and deferred income 1,285 1,220
21,779 20,046
7. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 200 200
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8. Directors Advances, Credits and Guarantees
Included within Debtors are the following loans to directors:
As at 1 July 2023 Amounts advanced Amounts repaid Amounts written off As at 30 June 2024
£ £ £ £ £
Mr Alexander Laing 33,877 46,893 41,164 - 39,606
The above loan is unsecured, interest free and repayable on demand.
9. Dividends
2024 2023
£ £
On equity shares:
Final dividend paid 34,000 31,000
A final Dividend of £40,606 was declared on 18 July 2024.
10. Ultimate Controlling Party
The company's ultimate controlling party is Alexander Laing by virtue of his ownership of 50% of the issued share capital in the company.
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