Acorah Software Products - Accounts Production 15.0.600 false true true 30 November 2022 1 December 2021 false 1 December 2022 30 November 2023 30 November 2023 SC581485 Mr David Cole Mr Hugh Walters Ms Bernadette Whiting true iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure SC581485 2022-11-30 SC581485 2023-11-30 SC581485 2022-12-01 2023-11-30 SC581485 frs-core:CurrentFinancialInstruments 2023-11-30 SC581485 frs-core:Non-currentFinancialInstruments 2023-11-30 SC581485 frs-core:FurnitureFittings 2023-11-30 SC581485 frs-core:FurnitureFittings 2022-12-01 2023-11-30 SC581485 frs-core:FurnitureFittings 2022-11-30 SC581485 frs-core:NetGoodwill 2023-11-30 SC581485 frs-core:NetGoodwill 2022-12-01 2023-11-30 SC581485 frs-core:NetGoodwill 2022-11-30 SC581485 frs-core:ShareCapital 2023-11-30 SC581485 frs-core:RetainedEarningsAccumulatedLosses 2023-11-30 SC581485 frs-bus:PrivateLimitedCompanyLtd 2022-12-01 2023-11-30 SC581485 frs-bus:FilletedAccounts 2022-12-01 2023-11-30 SC581485 frs-bus:SmallEntities 2022-12-01 2023-11-30 SC581485 frs-bus:AuditExempt-NoAccountantsReport 2022-12-01 2023-11-30 SC581485 frs-bus:SmallCompaniesRegimeForAccounts 2022-12-01 2023-11-30 SC581485 1 2022-12-01 2023-11-30 SC581485 frs-core:DeferredTaxation 2022-12-01 2023-11-30 SC581485 frs-core:DeferredTaxation 2022-11-30 SC581485 frs-core:DeferredTaxation 2023-11-30 SC581485 frs-core:OtherProvisionsContingentLiabilities 2022-12-01 2023-11-30 SC581485 frs-core:OtherProvisionsContingentLiabilities 2022-11-30 SC581485 frs-core:OtherProvisionsContingentLiabilities 2023-11-30 SC581485 frs-bus:Director1 2022-12-01 2023-11-30 SC581485 frs-bus:Director2 2022-12-01 2023-11-30 SC581485 frs-bus:Director3 2022-12-01 2023-11-30 SC581485 frs-countries:Scotland 2022-12-01 2023-11-30 SC581485 2021-11-30 SC581485 2022-11-30 SC581485 2021-12-01 2022-11-30 SC581485 frs-core:CurrentFinancialInstruments 2022-11-30 SC581485 frs-core:Non-currentFinancialInstruments 2022-11-30 SC581485 frs-core:ShareCapital 2022-11-30 SC581485 frs-core:RetainedEarningsAccumulatedLosses 2022-11-30
Registered number: SC581485
Walcol Limited
Unaudited Financial Statements
For The Year Ended 30 November 2023
Calculus Accountants (Scotland) Ltd
10 Avonhead Road
Condorrat
Glasgow
G67 4RA
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—6
Page 1
Balance Sheet
Registered number: SC581485
2023 2022
Notes £ £ £ £
FIXED ASSETS
Intangible Assets 4 14,583 18,083
Tangible Assets 5 2,417 1,520
17,000 19,603
CURRENT ASSETS
Stocks 6 5,722 4,780
Debtors 7 1,358 1,543
Cash at bank and in hand 5,224 3,432
12,304 9,755
Creditors: Amounts Falling Due Within One Year 8 (179,162 ) (142,168 )
NET CURRENT ASSETS (LIABILITIES) (166,858 ) (132,413 )
TOTAL ASSETS LESS CURRENT LIABILITIES (149,858 ) (112,810 )
Creditors: Amounts Falling Due After More Than One Year 9 (10,049 ) (14,174 )
PROVISIONS FOR LIABILITIES
Provisions For Charges 11 (7,640 ) (6,750 )
Deferred Taxation 10 (459 ) (229 )
NET LIABILITIES (168,006 ) (133,963 )
CAPITAL AND RESERVES
Called up share capital 12 100 100
Profit and Loss Account (168,106 ) (134,063 )
SHAREHOLDERS' FUNDS (168,006) (133,963)
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 Cole
Director
28/08/2024
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
Walcol Limited is a private company, limited by shares, incorporated in Scotland, registered number SC581485 . The registered office is 10 Avonhead Road, Condorrat, Glasgow, G67 4RA.
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. Going Concern Disclosure
The directors have not identified any material uncertainties related to events or conditions that may cast significant doubt about the company's ability to continue as a going concern despite the continued trading losses, with the onoing support of the directors.
2.3. Turnover
Turnover is measured at the fair value of the consideration received, net of discounts and value added taxes, and relates to revenue earned from the sale of goods and from associated sources. 
2.4. 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.
2.5. 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:
Fixtures & Fittings 15% - reducing balance basis
2.6. 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 stocks. 
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 year 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 asset reflects 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.
Page 3
Page 4
2.8. 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.
The grants received in the prior year comprised of the Coronavirus Business Support Grants from North Lanarkshire Council.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 4 (2022: 4)
4 4
4. Intangible Assets
Goodwill
£
Cost
As at 1 December 2022 35,000
As at 30 November 2023 35,000
Amortisation
As at 1 December 2022 16,917
Provided during the period 3,500
As at 30 November 2023 20,417
Net Book Value
As at 30 November 2023 14,583
As at 1 December 2022 18,083
Goodwill is being amortised over a 10 year period on a straightline basis.
5. Tangible Assets
Fixtures & Fittings
£
Cost
As at 1 December 2022 3,133
Additions 1,250
As at 30 November 2023 4,383
Depreciation
As at 1 December 2022 1,613
Provided during the period 353
As at 30 November 2023 1,966
Net Book Value
As at 30 November 2023 2,417
As at 1 December 2022 1,520
Page 4
Page 5
6. Stocks
2023 2022
£ £
Stock 5,722 4,780
7. Debtors
2023 2022
£ £
Due within one year
Prepayments and accrued income 643 818
Sundry debtors 715 -
VAT and Machine Games Duty - 725
1,358 1,543
8. Creditors: Amounts Falling Due Within One Year
2023 2022
£ £
Trade creditors 4,159 1,479
Bank loans and overdrafts 4,125 4,125
PAYE and NI 599 742
VAT and Machine Games Duty 3,884 -
Accrued charges 39,718 27,341
Directors' loan accounts 126,677 108,481
179,162 142,168
The directors loan accounts are unsecured, interest free and have no fixed terms of repayment. 
The bank loan was obtained in terms of the Bounce Back Loan Scheme following the Covid19 pandemic in May 2020 and is accordance with the terms thereof.
9. Creditors: Amounts Falling Due After More Than One Year
2023 2022
£ £
Bank loans 10,049 14,174
The bank loan was obtained in terms of the Bounce Back Loan Scheme following the Covid19 pandemic in May 2020 and is accordance with the terms thereof.
10. Deferred Taxation
The provision for deferred taxation is made up of accelerated capital allowances.
2023 2022
£ £
Other timing differences 459 229
Page 5
Page 6
11. Provisions for Liabilities
Deferred Tax Other Provisions Total
£ £ £
As at 1 December 2022 229 6,750 6,979
Additions 230 890 1,120
Balance at 30 November 2023 459 7,640 8,099
The provision for liabilities is in respect of potential employees termination costs.
12. Share Capital
2023 2022
£ £
Allotted, Called up and fully paid 100 100
13. Directors Advances, Credits and Guarantees
The directors have Personal Guarantees to the landlords of the public house in respect of rent charges.
14. Ultimate Controlling Party
The company has no ultimate controlling party by virtue of the split in ownership of the issued share capital in the company.
Page 6