Acorah Software Products - Accounts Production 14.6.300 false true 31 August 2022 1 September 2021 false 1 September 2022 31 August 2023 31 August 2023 SC197854 Elaine Sutherland Robert Clark iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure SC197854 2022-08-31 SC197854 2023-08-31 SC197854 2022-09-01 2023-08-31 SC197854 frs-core:CurrentFinancialInstruments 2023-08-31 SC197854 frs-core:Non-currentFinancialInstruments 2023-08-31 SC197854 frs-core:BetweenOneFiveYears 2023-08-31 SC197854 frs-core:ComputerEquipment 2023-08-31 SC197854 frs-core:ComputerEquipment 2022-09-01 2023-08-31 SC197854 frs-core:ComputerEquipment 2022-08-31 SC197854 frs-core:FurnitureFittings 2023-08-31 SC197854 frs-core:FurnitureFittings 2022-09-01 2023-08-31 SC197854 frs-core:FurnitureFittings 2022-08-31 SC197854 frs-core:LandBuildings frs-core:LeasedAssetsHeldAsLessee 2023-08-31 SC197854 frs-core:LandBuildings frs-core:LeasedAssetsHeldAsLessee 2022-09-01 2023-08-31 SC197854 frs-core:LandBuildings frs-core:LeasedAssetsHeldAsLessee 2022-08-31 SC197854 frs-core:LandBuildings frs-core:OwnedOrFreeholdAssets 2023-08-31 SC197854 frs-core:LandBuildings frs-core:OwnedOrFreeholdAssets 2022-09-01 2023-08-31 SC197854 frs-core:LandBuildings frs-core:OwnedOrFreeholdAssets 2022-08-31 SC197854 frs-core:MotorVehicles 2023-08-31 SC197854 frs-core:MotorVehicles 2022-09-01 2023-08-31 SC197854 frs-core:MotorVehicles 2022-08-31 SC197854 frs-core:PlantMachinery 2023-08-31 SC197854 frs-core:PlantMachinery 2022-09-01 2023-08-31 SC197854 frs-core:PlantMachinery 2022-08-31 SC197854 frs-core:WithinOneYear 2023-08-31 SC197854 frs-core:ShareCapital 2023-08-31 SC197854 frs-core:RetainedEarningsAccumulatedLosses 2023-08-31 SC197854 frs-bus:PrivateLimitedCompanyLtd 2022-09-01 2023-08-31 SC197854 frs-bus:FilletedAccounts 2022-09-01 2023-08-31 SC197854 frs-bus:SmallEntities 2022-09-01 2023-08-31 SC197854 frs-bus:AuditExempt-NoAccountantsReport 2022-09-01 2023-08-31 SC197854 frs-bus:SmallCompaniesRegimeForAccounts 2022-09-01 2023-08-31 SC197854 frs-bus:Director1 2022-09-01 2023-08-31 SC197854 frs-bus:Director2 2022-09-01 2023-08-31 SC197854 frs-core:CurrentFinancialInstruments 3 2023-08-31 SC197854 frs-countries:Scotland 2022-09-01 2023-08-31 SC197854 2021-08-31 SC197854 2022-08-31 SC197854 2021-09-01 2022-08-31 SC197854 frs-core:CurrentFinancialInstruments 2022-08-31 SC197854 frs-core:Non-currentFinancialInstruments 2022-08-31 SC197854 frs-core:BetweenOneFiveYears 2022-08-31 SC197854 frs-core:WithinOneYear 2022-08-31 SC197854 frs-core:ShareCapital 2022-08-31 SC197854 frs-core:RetainedEarningsAccumulatedLosses 2022-08-31 SC197854 frs-core:CurrentFinancialInstruments 3 2022-08-31
Registered number: SC197854
Riverside Kitchens (Elgin) Limited
Unaudited Financial Statements
For The Year Ended 31 August 2023
Hopes & Co. Accounting Limited
14 Chanonry Road South
Elgin
Moray
IV30 6NG
Contents
Page
Statement of Financial Position 1—2
Notes to the Financial Statements 3—6
Page 1
Statement of Financial Position
Registered number: SC197854
2023 2022
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 345,775 247,024
Investment Properties 5 216,134 216,634
561,909 463,658
CURRENT ASSETS
Stocks 6 166,535 283,461
Debtors 7 610,047 785,159
Cash at bank and in hand 1,492,054 1,318,187
2,268,636 2,386,807
Creditors: Amounts Falling Due Within One Year 8 (399,572 ) (649,221 )
NET CURRENT ASSETS (LIABILITIES) 1,869,064 1,737,586
TOTAL ASSETS LESS CURRENT LIABILITIES 2,430,973 2,201,244
Creditors: Amounts Falling Due After More Than One Year 9 (106,417 ) (28,271 )
PROVISIONS FOR LIABILITIES
Deferred Taxation (31,725 ) (13,057 )
NET ASSETS 2,292,831 2,159,916
CAPITAL AND RESERVES
Called up share capital 11 100 100
Income Statement 2,292,731 2,159,816
SHAREHOLDERS' FUNDS 2,292,831 2,159,916
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For the year ending 31 August 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 Income Statement.
On behalf of the board
Elaine Sutherland
Director
Robert Clark
Director
18th July 2024
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
Riverside Kitchens (Elgin) Limited is a private company, limited by shares, incorporated in Scotland, registered number SC197854 . The registered office is The Oakwood, Forres, Elgin, Morayshire, IV30 8UN.
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:
Freehold Land & Buildings 0% straight line
Tenants Improvements 10% straight line
Plant & Machinery 20% straight line
Motor Vehicles 25% reducing balance
Fixtures & Fittings 20% straight line
Computer Equipment 33.33% straight line
2.4. Investment Properties
All investment properties are carried at fair value determined annually and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided for. Changes in fair value are recognised in the income statement.
2.5. 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 income statement 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 income statement as incurred.
2.6. 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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2.7. Taxation
Income 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.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 28 (2022: 28)
28 28
4. Tangible Assets
Land & Property
Freehold Land & Buildings Tenants Improvements Plant & Machinery Motor Vehicles
£ £ £ £
Cost
As at 1 September 2022 141,358 163,907 6,525 142,950
Additions 1,800 - 3,359 119,729
Disposals - - - (15,300 )
As at 31 August 2023 143,158 163,907 9,884 247,379
Depreciation
As at 1 September 2022 - 126,966 5,185 83,042
Provided during the period - 6,032 1,007 14,454
Disposals - - - (13,206 )
As at 31 August 2023 - 132,998 6,192 84,290
Net Book Value
As at 31 August 2023 143,158 30,909 3,692 163,089
As at 1 September 2022 141,358 36,941 1,340 59,908
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Fixtures & Fittings Computer Equipment Total
£ £ £
Cost
As at 1 September 2022 32,669 12,964 500,373
Additions - 1,124 126,012
Disposals - (3,497 ) (18,797 )
As at 31 August 2023 32,669 10,591 607,588
Depreciation
As at 1 September 2022 27,373 10,783 253,349
Provided during the period 2,033 1,641 25,167
Disposals - (3,497 ) (16,703 )
As at 31 August 2023 29,406 8,927 261,813
Net Book Value
As at 31 August 2023 3,263 1,664 345,775
As at 1 September 2022 5,296 2,181 247,024
5. Investment Property
2023
£
Fair Value
As at 1 September 2022 216,634
Disposals (500 )
As at 31 August 2023 216,134
6. Stocks
2023 2022
£ £
Stock 166,535 283,461
7. Debtors
2023 2022
£ £
Due within one year
Trade debtors 448,247 506,445
Prepayments and accrued income 34,562 58,390
Other debtors 18,948 26,117
Corporation tax recoverable assets 12,090 12,090
VAT 70,887 153,019
584,734 756,061
Due after more than one year
Other debtors 25,313 29,098
610,047 785,159
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8. Creditors: Amounts Falling Due Within One Year
2023 2022
£ £
Net obligations under finance lease and hire purchase contracts 31,639 -
Trade creditors 236,529 371,544
Bank loans and overdrafts 10,648 9,808
Corporation tax 52,970 127,477
Other taxes and social security 10,579 -
Other creditors 5,707 13,614
CIS Payable 949 -
Accruals and deferred income 33,041 109,287
Directors' loan accounts 17,510 17,491
399,572 649,221
9. Creditors: Amounts Falling Due After More Than One Year
2023 2022
£ £
Net obligations under finance lease and hire purchase contracts 88,805 -
Bank loans 17,612 28,271
106,417 28,271
10. Obligations Under Finance Leases and Hire Purchase
2023 2022
£ £
The future minimum finance lease payments are as follows:
Not later than one year 31,639 -
Later than one year and not later than five years 88,805 -
120,444 -
120,444 -
11. Share Capital
2023 2022
£ £
Allotted, Called up and fully paid 100 100
12. Related Party Transactions
During the year, rent totalling £Nil (2022 - £13,824) was paid to Elaine G. Sutherland and Robert Clark, directors. The directors jointly own the property occupied by the company. During the year,  the company loaned £Nil (2022 - £Nil) to A & E South Street Limited,  a company in which Elaine G. Sutherland is a director.  A & E South Street Limited repaid £10,648 (2022 - £10,648) and paid interest of £847.11 (2022 - £1,102) to the company. Interest is charged at 3%.  At the year end,  A & E South Street Limited was due the company £29,084 (2022 - £38,885).
At the year end there was a loan balance due to Elaine G. Sutherland and Robert Clark of £17,510 (2022: £17,491). This loan is interest free with no fixed repayment terms but remains re-payable on demand. The loan is included within short term creditors.
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