Acorah Software Products - Accounts Production 15.0.600 false true 30 June 2023 1 July 2022 false 1 July 2023 30 June 2024 30 June 2024 SC634034 Mr Jason Crawford Mrs Nadia Crawford Mr Glen Mcguire iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure SC634034 2023-06-30 SC634034 2024-06-30 SC634034 2023-07-01 2024-06-30 SC634034 frs-core:CurrentFinancialInstruments 2024-06-30 SC634034 frs-core:ComputerEquipment 2024-06-30 SC634034 frs-core:ComputerEquipment 2023-07-01 2024-06-30 SC634034 frs-core:ComputerEquipment 2023-06-30 SC634034 frs-core:MotorVehicles 2024-06-30 SC634034 frs-core:MotorVehicles 2023-07-01 2024-06-30 SC634034 frs-core:MotorVehicles 2023-06-30 SC634034 frs-core:PlantMachinery 2024-06-30 SC634034 frs-core:PlantMachinery 2023-07-01 2024-06-30 SC634034 frs-core:PlantMachinery 2023-06-30 SC634034 frs-core:ShareCapital 2024-06-30 SC634034 frs-core:RetainedEarningsAccumulatedLosses 2024-06-30 SC634034 frs-bus:PrivateLimitedCompanyLtd 2023-07-01 2024-06-30 SC634034 frs-bus:FilletedAccounts 2023-07-01 2024-06-30 SC634034 frs-bus:SmallEntities 2023-07-01 2024-06-30 SC634034 frs-bus:AuditExempt-NoAccountantsReport 2023-07-01 2024-06-30 SC634034 frs-bus:SmallCompaniesRegimeForAccounts 2023-07-01 2024-06-30 SC634034 frs-bus:Director1 2023-07-01 2024-06-30 SC634034 frs-bus:Director2 2023-07-01 2024-06-30 SC634034 frs-bus:Director3 2023-07-01 2024-06-30 SC634034 frs-core:CurrentFinancialInstruments 1 2024-06-30 SC634034 frs-countries:Scotland 2023-07-01 2024-06-30 SC634034 2022-06-30 SC634034 2023-06-30 SC634034 2022-07-01 2023-06-30 SC634034 frs-core:CurrentFinancialInstruments 2023-06-30 SC634034 frs-core:ShareCapital 2023-06-30 SC634034 frs-core:RetainedEarningsAccumulatedLosses 2023-06-30 SC634034 frs-core:CurrentFinancialInstruments 1 2023-06-30
Registered number: SC634034
Craiglea Timber Frames Ltd
Financial Statements
For The Year Ended 30 June 2024
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: SC634034
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 143,691 75,492
143,691 75,492
CURRENT ASSETS
Debtors 5 118,678 97,658
Cash at bank and in hand 422,752 471,407
541,430 569,065
Creditors: Amounts Falling Due Within One Year 6 (88,608 ) (141,952 )
NET CURRENT ASSETS (LIABILITIES) 452,822 427,113
TOTAL ASSETS LESS CURRENT LIABILITIES 596,513 502,605
PROVISIONS FOR LIABILITIES
Deferred Taxation (14,245 ) (14,344 )
NET ASSETS 582,268 488,261
CAPITAL AND RESERVES
Called up share capital 7 100 100
Profit and Loss Account 582,168 488,161
SHAREHOLDERS' FUNDS 582,268 488,261
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For the year ending 30 June 2024 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 Jason Crawford
Director
29 August 2024
The notes on pages 3 to 5 form part of these financial statements.
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Notes to the Financial Statements
1. General Information
Craiglea Timber Frames Ltd is a private company, limited by shares, incorporated in Scotland, registered number SC634034 . The registered office is Craiglea Northall Road, Markinch, Glenrothes, KY7 6JR.
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:
Plant & Machinery 20% Straight Line
Motor Vehicles 20% Reducing Balance
Computer Equipment 25% Straight Line
2.4. 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.
...CONTINUED
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2.4. 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 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.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 9 (2023: 8)
9 8
4. Tangible Assets
Plant & Machinery Motor Vehicles Computer Equipment Total
£ £ £ £
Cost
As at 1 July 2023 4,012 101,661 4,422 110,095
Additions 129 121,698 - 121,827
Disposals - (20,500 ) - (20,500 )
As at 30 June 2024 4,141 202,859 4,422 211,422
Depreciation
As at 1 July 2023 1,179 30,482 2,942 34,603
Provided during the period 828 35,295 1,105 37,228
Disposals - (4,100 ) - (4,100 )
As at 30 June 2024 2,007 61,677 4,047 67,731
Net Book Value
As at 30 June 2024 2,134 141,182 375 143,691
As at 1 July 2023 2,833 71,179 1,480 75,492
5. Debtors
2024 2023
£ £
Due within one year
Trade debtors 101,235 54,713
VAT 17,443 42,945
118,678 97,658
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6. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 27,578 52,470
Corporation tax 30,486 54,035
Other taxes and social security 1,618 621
Pension creditor 104 -
Attachments creditor 2,525 1,797
Directors' loan accounts 26,297 33,029
88,608 141,952
7. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 100 100
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