Acorah Software Products - Accounts Production 15.0.600 false true 30 November 2022 1 December 2021 false 1 December 2022 30 November 2023 30 November 2023 SC351706 Mr Keith Mackintosh Mr Michael Sinclair Ms Margaret Sherrit iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure SC351706 2022-11-30 SC351706 2023-11-30 SC351706 2022-12-01 2023-11-30 SC351706 frs-core:Non-currentFinancialInstruments 2023-11-30 SC351706 frs-core:FurnitureFittings 2022-12-01 2023-11-30 SC351706 frs-core:LandBuildings frs-core:LeasedAssetsHeldAsLessee 2022-12-01 2023-11-30 SC351706 frs-core:LandBuildings frs-core:OwnedOrFreeholdAssets 2022-12-01 2023-11-30 SC351706 frs-core:ShareCapital 2023-11-30 SC351706 frs-core:RetainedEarningsAccumulatedLosses 2023-11-30 SC351706 frs-bus:PrivateLimitedCompanyLtd 2022-12-01 2023-11-30 SC351706 frs-bus:AbridgedAccounts 2022-12-01 2023-11-30 SC351706 frs-bus:SmallEntities 2022-12-01 2023-11-30 SC351706 frs-bus:AuditExempt-NoAccountantsReport 2022-12-01 2023-11-30 SC351706 frs-bus:SmallCompaniesRegimeForAccounts 2022-12-01 2023-11-30 SC351706 frs-bus:Director1 2022-12-01 2023-11-30 SC351706 frs-bus:Director2 2022-12-01 2023-11-30 SC351706 frs-bus:Director3 2022-12-01 2023-11-30 SC351706 frs-countries:Scotland 2022-12-01 2023-11-30 SC351706 2021-11-30 SC351706 2022-11-30 SC351706 2021-12-01 2022-11-30 SC351706 frs-core:Non-currentFinancialInstruments 2022-11-30 SC351706 frs-core:ShareCapital 2022-11-30 SC351706 frs-core:RetainedEarningsAccumulatedLosses 2022-11-30
Registered number: SC351706
Netherton Cottage Development Company Limited
Unaudited ABRIDGED Financial Statements
For The Year Ended 30 November 2023
Contents
Page
Abridged Balance Sheet 1—2
Notes to the Abridged Financial Statements 3—5
Page 1
Abridged Balance Sheet
Registered number: SC351706
2023 2022
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 450 596
450 596
CURRENT ASSETS
Stocks 134 444
Debtors 1,724 1,355
Cash at bank and in hand 161 496
2,019 2,295
Creditors: Amounts Falling Due Within One Year (161,649 ) (159,498 )
NET CURRENT ASSETS (LIABILITIES) (159,630 ) (157,203 )
TOTAL ASSETS LESS CURRENT LIABILITIES (159,180 ) (156,607 )
Creditors: Amounts Falling Due After More Than One Year (356 ) (475 )
NET LIABILITIES (159,536 ) (157,082 )
CAPITAL AND RESERVES
Called up share capital 5 30 30
Profit and Loss Account (159,566 ) (157,112 )
SHAREHOLDERS' FUNDS (159,536) (157,082)
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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.
All of the company's members have consented to the preparation of an Abridged Profit and Loss Account and an Abridged Balance Sheet for the year end 30 November 2023 in accordance with section 444(2A) of the Companies Act 2006.
On behalf of the board
Mr Keith Mackintosh
Director
Mr Michael Sinclair
Director
Ms Margaret Sherrit
Director
23 July 2024
The notes on pages 3 to 5 form part of these financial statements.
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Notes to the Abridged Financial Statements
1. General Information
Netherton Cottage Development Company Limited is a private company, limited by shares, incorporated in Scotland, registered number SC351706 . The registered office is Rainbow Music, 35 Cowgate, Dundee, Angus, DD1 2JF. The trading address is Netherton Cottage, Aberlemno, By Forfar, Angus, DD9 6SH.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements are prepared under the historical cost basis, as modified by the revaluaton of certain financial assets and liabilities and investment properties measured at fair value through profit or loss, 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.

The financial statements are prepared in sterling, which is the functional currency of the entity.
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:
Freehold 10% straight line
Leasehold 10% straight line
Fixtures & Fittings 25% reducing balance
2.4. 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.
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2.5. Financial Instruments
A financial asset or a financial liability is recognised only when the company becomes a party to the contractual provisions of the instrument.
Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.
Debt instruments are subsequently measured at amortised cost.
Where investments in non-convertible preference shares and non-puttable ordinary shares or preference shares are publicly traded or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value with changes in fair value recognised in profit or loss. All other investments are subsequently measured at cost less impairment.
Other financial instruments, including derivatives, are initially recognised at fair value, unless payment for an asset is deferred beyond normal business terms or financed at a rate of interest that is not a market rate, in which case the asset is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.
Other financial instruments are subsequently measured at fair value, with any changes recognised in profit or loss, with the exception of hedging instruments in a designated hedging relationship.
Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objectice evidence of impairment, an impairment loss is recognised in profit or loss immediately.
For all equity instruments, regardless of significance and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets are either assessed individually or grouped on the basis of similar credit risk characteristics.
Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.
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.
2.7. Impairment
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.
When it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that are largely independent of the cash inflows from other assets or groups of assets.
3. Average Number of Employees
Average number of employees, including directors, during the year was: NIL (2022: NIL)
- -
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4. Tangible Assets
Total
£
Cost
As at 1 December 2022 176,759
As at 30 November 2023 176,759
Depreciation
As at 1 December 2022 176,163
Provided during the period 146
As at 30 November 2023 176,309
Net Book Value
As at 30 November 2023 450
As at 1 December 2022 596
5. Share Capital
2023 2022
£ £
Allotted, Called up and fully paid 30 30
6. Related Party Transactions
During the year under review, the company rented Netherton Cottage from the 3 directors of the company for an annual rental of £100.
7. Going concern
The balance sheet is currently in deficit however the directors are confident that with their support, it will return to a credit position in the near future.
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