Acorah Software Products - Accounts Production 14.6.300 false true 31 July 2022 1 August 2021 false 1 August 2022 31 July 2023 31 July 2023 SC457498 Mr Alan MacArthur iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure SC457498 2022-07-31 SC457498 2023-07-31 SC457498 2022-08-01 2023-07-31 SC457498 frs-core:CurrentFinancialInstruments 2023-07-31 SC457498 frs-core:Non-currentFinancialInstruments 2023-07-31 SC457498 frs-core:BetweenOneFiveYears 2023-07-31 SC457498 frs-core:PlantMachinery 2023-07-31 SC457498 frs-core:PlantMachinery 2022-08-01 2023-07-31 SC457498 frs-core:PlantMachinery 2022-07-31 SC457498 frs-core:ShareCapital 2023-07-31 SC457498 frs-core:RetainedEarningsAccumulatedLosses 2023-07-31 SC457498 frs-bus:PrivateLimitedCompanyLtd 2022-08-01 2023-07-31 SC457498 frs-bus:FilletedAccounts 2022-08-01 2023-07-31 SC457498 frs-bus:SmallEntities 2022-08-01 2023-07-31 SC457498 frs-bus:AuditExempt-NoAccountantsReport 2022-08-01 2023-07-31 SC457498 frs-bus:SmallCompaniesRegimeForAccounts 2022-08-01 2023-07-31 SC457498 frs-bus:Director1 2022-08-01 2023-07-31 SC457498 frs-countries:Scotland 2022-08-01 2023-07-31 SC457498 2021-07-31 SC457498 2022-07-31 SC457498 2021-08-01 2022-07-31 SC457498 frs-core:CurrentFinancialInstruments 2022-07-31 SC457498 frs-core:Non-currentFinancialInstruments 2022-07-31 SC457498 frs-core:BetweenOneFiveYears 2022-07-31 SC457498 frs-core:ShareCapital 2022-07-31 SC457498 frs-core:RetainedEarningsAccumulatedLosses 2022-07-31
Registered number: SC457498
Amac Forestry Ltd
Financial Statements
For The Year Ended 31 July 2023
A&A Accounting Limited
1037 Sauchiehall Street
Glasgow
G3 7TZ
Financial Statements
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: SC457498
2023 2022
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 3 1,255,427 661,610
1,255,427 661,610
CURRENT ASSETS
Stocks 4 109,000 89,000
Debtors 5 119,172 122,529
Cash at bank and in hand - 65,690
228,172 277,219
Creditors: Amounts Falling Due Within One Year 6 (617,182 ) (305,632 )
NET CURRENT ASSETS (LIABILITIES) (389,010 ) (28,413 )
TOTAL ASSETS LESS CURRENT LIABILITIES 866,417 633,197
Creditors: Amounts Falling Due After More Than One Year 7 (965,666 ) (562,191 )
NET (LIABILITIES)/ASSETS (99,249 ) 71,006
CAPITAL AND RESERVES
Called up share capital 9 1 1
Profit and Loss Account (99,250 ) 71,005
SHAREHOLDERS' FUNDS (99,249) 71,006
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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 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 Alan MacArthur
Director
10/05/2024
The notes on pages 3 to 5 form part of these financial statements.
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Page 3
Notes to the Financial Statements
1. Accounting Policies
1.1. 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.
1.2. 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.
1.3. 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 10%
1.4. 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.
1.5. 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.
1.6. 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.
...CONTINUED
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1.6. Taxation - continued
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. Average Number of Employees
Average number of employees, including directors, during the year was as follows: 3 (2022: 2)
3 2
3. Tangible Assets
Plant & Machinery
£
Cost
As at 1 August 2022 1,014,555
Additions 905,970
As at 31 July 2023 1,920,525
Depreciation
As at 1 August 2022 352,945
Provided during the period 312,153
As at 31 July 2023 665,098
Net Book Value
As at 31 July 2023 1,255,427
As at 1 August 2022 661,610
4. Stocks
2023 2022
£ £
Stock - materials and work in progress 109,000 89,000
5. Debtors
2023 2022
£ £
Due within one year
Trade debtors 119,172 122,529
119,172 122,529
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6. Creditors: Amounts Falling Due Within One Year
2023 2022
£ £
Trade creditors 159,694 209,077
Bank loans and overdrafts 26,661 -
Corporation tax 28,958 3,474
Other taxes and social security 3,659 2,839
VAT 117,572 90,040
Net wages 739 202
Other creditors 78,610 -
Amounts owed to associates 201,289 -
617,182 305,632
7. Creditors: Amounts Falling Due After More Than One Year
2023 2022
£ £
Net obligations under finance lease and hire purchase contracts 916,564 513,089
Bank loans 49,102 49,102
965,666 562,191
8. Obligations Under Finance Leases and Hire Purchase
2023 2022
£ £
The maturity of these amounts is as follows:
Between one and five years 916,564 513,089
9. Share Capital
2023 2022
£ £
Allotted, Called up and fully paid 1 1
10. Related Party Transactions
Alan MacArthur is the director and shareholder of Glenralloch Ltd and AMAC Harvesting Ltd. A total of £201,289 is owed by AMAC Forestry Ltd to these entities.
11. General Information
Amac Forestry Ltd is a private company, limited by shares, incorporated in Scotland, registered number SC457498 . The registered office is 1037 Sauchiehall Street, Glasgow, G3 7TZ.
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