Acorah Software Products - Accounts Production 15.0.500 false true 30 November 2022 1 December 2021 false 1 December 2022 30 November 2023 30 November 2023 SC269348 Mr Wilson Malloch Mrs Aileen Lawrence Miss Katharine Hunter Mr David Patterson Mr David Farquharson true iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure SC269348 2022-11-30 SC269348 2023-11-30 SC269348 2022-12-01 2023-11-30 SC269348 frs-core:CurrentFinancialInstruments 2023-11-30 SC269348 frs-core:Non-currentFinancialInstruments 2023-11-30 SC269348 frs-core:BetweenOneFiveYears 2023-11-30 SC269348 frs-core:ComputerEquipment 2023-11-30 SC269348 frs-core:ComputerEquipment 2022-12-01 2023-11-30 SC269348 frs-core:ComputerEquipment 2022-11-30 SC269348 frs-core:DevelopmentCostsCapitalisedDevelopmentExpenditure 2022-12-01 2023-11-30 SC269348 frs-core:FurnitureFittings 2023-11-30 SC269348 frs-core:FurnitureFittings 2022-12-01 2023-11-30 SC269348 frs-core:FurnitureFittings 2022-11-30 SC269348 frs-core:NetGoodwill 2023-11-30 SC269348 frs-core:NetGoodwill 2022-12-01 2023-11-30 SC269348 frs-core:NetGoodwill 2022-11-30 SC269348 frs-core:LandBuildings frs-core:LeasedAssetsHeldAsLessee 2023-11-30 SC269348 frs-core:LandBuildings frs-core:LeasedAssetsHeldAsLessee 2022-12-01 2023-11-30 SC269348 frs-core:LandBuildings frs-core:LeasedAssetsHeldAsLessee 2022-11-30 SC269348 frs-core:LandBuildings frs-core:OwnedOrFreeholdAssets 2023-11-30 SC269348 frs-core:LandBuildings frs-core:OwnedOrFreeholdAssets 2022-12-01 2023-11-30 SC269348 frs-core:LandBuildings frs-core:OwnedOrFreeholdAssets 2022-11-30 SC269348 frs-core:MotorVehicles 2023-11-30 SC269348 frs-core:MotorVehicles 2022-12-01 2023-11-30 SC269348 frs-core:MotorVehicles 2022-11-30 SC269348 frs-core:OtherResidualIntangibleAssets 2023-11-30 SC269348 frs-core:OtherResidualIntangibleAssets 2022-12-01 2023-11-30 SC269348 frs-core:OtherResidualIntangibleAssets 2022-11-30 SC269348 frs-core:PlantMachinery 2023-11-30 SC269348 frs-core:PlantMachinery 2022-12-01 2023-11-30 SC269348 frs-core:PlantMachinery 2022-11-30 SC269348 frs-core:WithinOneYear 2023-11-30 SC269348 frs-core:OtherReservesSubtotal 2023-11-30 SC269348 frs-core:ShareCapital 2023-11-30 SC269348 frs-core:RetainedEarningsAccumulatedLosses 2022-12-01 2023-11-30 SC269348 frs-core:RetainedEarningsAccumulatedLosses 2023-11-30 SC269348 frs-bus:PrivateLimitedCompanyLtd 2022-12-01 2023-11-30 SC269348 frs-bus:FilletedAccounts 2022-12-01 2023-11-30 SC269348 frs-bus:SmallEntities 2022-12-01 2023-11-30 SC269348 frs-bus:AuditExempt-NoAccountantsReport 2022-12-01 2023-11-30 SC269348 frs-bus:SmallCompaniesRegimeForAccounts 2022-12-01 2023-11-30 SC269348 frs-bus:OrdinaryShareClass2 2022-12-01 2023-11-30 SC269348 frs-bus:OrdinaryShareClass2 2023-11-30 SC269348 1 2022-12-01 2023-11-30 SC269348 frs-bus:Director1 2022-12-01 2023-11-30 SC269348 frs-bus:Director2 2022-12-01 2023-11-30 SC269348 frs-bus:Director3 2022-12-01 2023-11-30 SC269348 frs-bus:Director4 2022-12-01 2023-11-30 SC269348 frs-bus:Director5 2022-12-01 2023-11-30 SC269348 1 2022-12-01 2023-11-30 SC269348 frs-core:CurrentFinancialInstruments 1 2023-11-30 SC269348 2 2022-12-01 2023-11-30 SC269348 3 2022-12-01 2023-11-30 SC269348 frs-countries:Scotland 2022-12-01 2023-11-30 SC269348 2021-11-30 SC269348 2022-11-30 SC269348 2021-12-01 2022-11-30 SC269348 frs-core:CurrentFinancialInstruments 2022-11-30 SC269348 frs-core:Non-currentFinancialInstruments 2022-11-30 SC269348 frs-core:BetweenOneFiveYears 2022-11-30 SC269348 frs-core:WithinOneYear 2022-11-30 SC269348 frs-core:OtherReservesSubtotal 2021-11-30 SC269348 frs-core:OtherReservesSubtotal 2022-11-30 SC269348 frs-core:ShareCapital 2021-11-30 SC269348 frs-core:ShareCapital 2022-11-30 SC269348 frs-core:RetainedEarningsAccumulatedLosses 2021-12-01 2022-11-30 SC269348 frs-core:RetainedEarningsAccumulatedLosses frs-core:PreviouslyStatedAmount 2021-11-30 SC269348 frs-core:RetainedEarningsAccumulatedLosses 2022-11-30 SC269348 frs-bus:OrdinaryShareClass2 2021-12-01 2022-11-30 SC269348 1 2021-12-01 2022-11-30 SC269348 frs-core:CurrentFinancialInstruments 1 2022-11-30 SC269348 2 2021-12-01 2022-11-30 SC269348 3 2021-12-01 2022-11-30 SC269348 frs-core:CurrentFinancialInstruments 3 2022-11-30
Registered number: SC269348
Glenshee Limited
Financial Statements
For The Year Ended 30 November 2023
Gillespie's
Chartered Accountants
33 Leslie Street
Blairgowrie
Perthshire
PH10 6AW
Financial Statements
Contents
Page
Balance Sheet 1—2
Statement of Changes in Equity 3
Notes to the Financial Statements 4—8
Page 1
Balance Sheet
Registered number: SC269348
2023 2022
Notes £ £ £ £
FIXED ASSETS
Intangible Assets 4 4,156 -
Tangible Assets 5 412,048 455,530
416,204 455,530
CURRENT ASSETS
Stocks 6 39,302 21,728
Debtors 7 64,999 105,636
Cash at bank and in hand 558,539 841,285
662,840 968,649
Creditors: Amounts Falling Due Within One Year 8 (922,972 ) (892,101 )
NET CURRENT ASSETS (LIABILITIES) (260,132 ) 76,548
TOTAL ASSETS LESS CURRENT LIABILITIES 156,072 532,078
Creditors: Amounts Falling Due After More Than One Year 9 - (95,659 )
PROVISIONS FOR LIABILITIES
Deferred Taxation 11 (98,114 ) (84,176 )
NET ASSETS 57,958 352,243
CAPITAL AND RESERVES
Called up share capital 12 145,000 145,000
Treasury shares (112,280 ) (112,280 )
Profit and Loss Account 25,238 319,523
SHAREHOLDERS' FUNDS 57,958 352,243
Page 1
Page 2
For the year ending 30 November 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 David Farquharson
Director
5th August 2024
The notes on pages 4 to 8 form part of these financial statements.
Page 2
Page 3
Statement of Changes in Equity
Share Capital Treasury shares Profit and Loss Account Total
£ £ £ £
As at 1 December 2021 145,000 (112,280 ) 579,212 611,932
Loss for the year and total comprehensive income - - (256,914 ) (256,914)
Dividends paid - - (2,775) (2,775)
As at 30 November 2022 and 1 December 2022 145,000 (112,280 ) 319,523 352,243
Loss for the year and total comprehensive income - - (280,908 ) (280,908)
Dividends paid - - (13,377) (13,377)
As at 30 November 2023 145,000 (112,280 ) 25,238 57,958
Page 3
Page 4
Notes to the Financial Statements
1. General Information
Glenshee Limited is a private company, limited by shares, incorporated in Scotland, registered number SC269348 . The registered office is Cairnwell, Braemar, Aberdeenshire, AB35 5XU.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements are prepared under the historical cost convention and in accordance with the FRS 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 form the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover form 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 10 years.
2.4. Intangible Fixed Assets and Amortisation - Other Intangible
Other intangible assets are website costs. It is amortised to profit and loss account over its estimated economic life.
2.5. 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:
Leasehold Improvements 10% on cost
Ski Equipment 50% on cost
Plant & Machinery 25% on reducing balance
Motor Vehicles 25% on reducing balance
Fixtures & Fittings 25% on reducing balance
Computer Equipment 33% on cost
2.6. Leasing and Hire Purchase Contracts
Assets obtained under finance leases are capitalised as tangible fixed assets. Assets acquired under finance leases are depreciated over the shorter of the lease term and their useful lives. Assets acquired under hire purchase contracts are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in the creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.

Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to profit and loss account as incurred.
2.7. 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 items.
Page 4
Page 5
2.8. 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.
2.9. Pensions
The company operates a defined contribution scheme. The assets of the scheme are held separately from those of the Company in an independently administered fund. 
2.10. Grants
Grants
Grants relating to revenue are recognised in profit and loss on a systematic basis over the periods in which the company recognises the related costs for which the grant is intended to compensate.
Capital - based grants are recognised in profit and loss on a systematic basis over the useful economic life of the asset matching the associated depreciation charges.
3. Average Number of Employees
Average number of employees, including directors, during the year was:
2023 2022
Directors 5 5
Admin 4 3
Other staff 42 51
51 59
4. Intangible Assets
Goodwill Other Total
£ £ £
Cost
As at 1 December 2022 23,549 - 23,549
Additions - 6,203 6,203
As at 30 November 2023 23,549 6,203 29,752
Amortisation
As at 1 December 2022 23,549 - 23,549
Provided during the period - 2,047 2,047
As at 30 November 2023 23,549 2,047 25,596
...CONTINUED
Page 5
Page 6
Net Book Value
As at 30 November 2023 - 4,156 4,156
As at 1 December 2022 - - -
5. Tangible Assets
Land & Property
Leasehold Improvements Ski Equipment Plant & Machinery Motor Vehicles
£ £ £ £
Cost
As at 1 December 2022 20,000 78,793 1,687,438 32,815
Additions - 43,028 61,492 3,000
As at 30 November 2023 20,000 121,821 1,748,930 35,815
Depreciation
As at 1 December 2022 20,000 77,749 1,311,069 23,507
Provided during the period - 22,036 109,109 3,077
As at 30 November 2023 20,000 99,785 1,420,178 26,584
Net Book Value
As at 30 November 2023 - 22,036 328,752 9,231
As at 1 December 2022 - 1,044 376,369 9,308
Fixtures & Fittings Computer Equipment Total
£ £ £
Cost
As at 1 December 2022 300,882 53,633 2,173,561
Additions - 1,946 109,466
As at 30 November 2023 300,882 55,579 2,283,027
Depreciation
As at 1 December 2022 243,087 42,619 1,718,031
Provided during the period 14,449 4,277 152,948
As at 30 November 2023 257,536 46,896 1,870,979
Net Book Value
As at 30 November 2023 43,346 8,683 412,048
As at 1 December 2022 57,795 11,014 455,530
6. Stocks
2023 2022
£ £
Stocks 39,302 21,728
Page 6
Page 7
7. Debtors
2023 2022
£ £
Due within one year
Trade debtors 41,247 74,368
Prepayments and accrued income 3,887 7,863
VAT 19,865 23,405
64,999 105,636
8. Creditors: Amounts Falling Due Within One Year
2023 2022
£ £
Net obligations under finance lease and hire purchase contracts 95,659 95,659
Trade creditors 70,722 16,446
Other taxes and social security 16,175 27,554
Net wages 73 -
Deferred income 22,702 21,844
Credit card 4,597 2,434
Other creditors - 310
Accrued expenses 5,000 19,810
Capital grants deferred 708,044 708,044
922,972 892,101
9. Creditors: Amounts Falling Due After More Than One Year
2023 2022
£ £
Net obligations under finance lease and hire purchase contracts - 95,659
- 95,659
10. Obligations Under Finance Leases and Hire Purchase
2023 2022
£ £
The future minimum finance lease payments are as follows:
Not later than one year 95,659 95,659
Later than one year and not later than five years - 95,659
95,659 191,318
95,659 191,318
11. Deferred Taxation
The provision for deferred tax is made up as follows:
2023 2022
£ £
Other timing differences 98,114 84,176
Page 7
Page 8
12. Share Capital
2023 2022
Allotted, called up and fully paid £ £
145,000 Ordinary A shares of £ 1.00 each 145,000 145,000
13. Capital Commitments
The Company has been approved for grant assistance of £200,000 from Scottish Enterprise, for the purchase, installation and commission of Ground Source Heating. The total cost of the project is £315,000.
Expenditure incurred to 30 November 2023 is £222,323 on which grant aid of £200,000 has been claimed.
The Company has been approved for grant assistance of £753,065 from Scottish Enterprise, for the purchase, installation and commission of public toilets, a Zip Line and Met Mast. The total cost of the projects are £1,173,000. 
Expenditure incurred to 30 November 2023 is £45,021 on which grant aid of £753,065 has been claimed. The projects for the public toilets and Zip line have not yet commenced. 
14. Ultimate Controlling Party
The Company was under the control of the Directors throughout the year.
Page 8