Acorah Software Products - Accounts Production 14.6.300 false true 28 February 2023 1 March 2022 false 1 March 2023 29 February 2024 29 February 2024 SC524417 Mr Paul Bright iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure SC524417 2023-02-28 SC524417 2024-02-29 SC524417 2023-03-01 2024-02-29 SC524417 frs-core:CurrentFinancialInstruments 2024-02-29 SC524417 frs-core:Non-currentFinancialInstruments 2024-02-29 SC524417 frs-core:FurnitureFittings 2024-02-29 SC524417 frs-core:FurnitureFittings 2023-03-01 2024-02-29 SC524417 frs-core:FurnitureFittings 2023-02-28 SC524417 frs-core:LandBuildings frs-core:LeasedAssetsHeldAsLessee 2024-02-29 SC524417 frs-core:LandBuildings frs-core:LeasedAssetsHeldAsLessee 2023-03-01 2024-02-29 SC524417 frs-core:LandBuildings frs-core:LeasedAssetsHeldAsLessee 2023-02-28 SC524417 frs-core:PlantMachinery 2023-03-01 2024-02-29 SC524417 frs-core:ShareCapital 2024-02-29 SC524417 frs-core:RetainedEarningsAccumulatedLosses 2024-02-29 SC524417 frs-bus:PrivateLimitedCompanyLtd 2023-03-01 2024-02-29 SC524417 frs-bus:FilletedAccounts 2023-03-01 2024-02-29 SC524417 frs-bus:SmallEntities 2023-03-01 2024-02-29 SC524417 frs-bus:AuditExempt-NoAccountantsReport 2023-03-01 2024-02-29 SC524417 frs-bus:SmallCompaniesRegimeForAccounts 2023-03-01 2024-02-29 SC524417 frs-bus:Director1 2023-03-01 2024-02-29 SC524417 frs-countries:Scotland 2023-03-01 2024-02-29 SC524417 2022-02-28 SC524417 2023-02-28 SC524417 2022-03-01 2023-02-28 SC524417 frs-core:CurrentFinancialInstruments 2023-02-28 SC524417 frs-core:Non-currentFinancialInstruments 2023-02-28 SC524417 frs-core:ShareCapital 2023-02-28 SC524417 frs-core:RetainedEarningsAccumulatedLosses 2023-02-28
Registered number: SC524417
One Finn Leisure Limited
Financial Statements
For The Year Ended 29 February 2024
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: SC524417
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 3 70,795 84,892
70,795 84,892
CURRENT ASSETS
Stocks 4 5,795 14,295
Debtors 5 20,083 17,588
Cash at bank and in hand 48,364 69,431
74,242 101,314
Creditors: Amounts Falling Due Within One Year 6 (103,719 ) (126,793 )
NET CURRENT ASSETS (LIABILITIES) (29,477 ) (25,479 )
TOTAL ASSETS LESS CURRENT LIABILITIES 41,318 59,413
Creditors: Amounts Falling Due After More Than One Year 7 (103,008 ) (125,811 )
NET LIABILITIES (61,690 ) (66,398 )
CAPITAL AND RESERVES
Called up share capital 8 100 100
Profit and Loss Account (61,790 ) (66,498 )
SHAREHOLDERS' FUNDS (61,690) (66,398)
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For the year ending 29 February 2024 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 Paul Bright
Director
30/08/2024
The notes on pages 3 to 5 form part of these financial statements.
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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:
Leasehold 10%
Plant & Machinery 10%
Fixtures & Fittings 10%
1.4. 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.
1.5. 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.
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2. Average Number of Employees
Average number of employees, including directors, during the year was as follows: 25 (2023: 35)
25 35
3. Tangible Assets
Land & Property
Leasehold Fixtures & Fittings Total
£ £ £
Cost
As at 1 March 2023 113,733 57,149 170,882
As at 29 February 2024 113,733 57,149 170,882
Depreciation
As at 1 March 2023 49,770 36,220 85,990
Provided during the period 8,382 5,715 14,097
As at 29 February 2024 58,152 41,935 100,087
Net Book Value
As at 29 February 2024 55,581 15,214 70,795
As at 1 March 2023 63,963 20,929 84,892
4. Stocks
2024 2023
£ £
Stock - materials and work in progress 5,795 14,295
5. Debtors
2024 2023
£ £
Due within one year
Trade debtors - 89
Prepayments and accrued income 17,499 17,499
17,499 17,588
Due after more than one year
Amounts owed by associates 2,584 -
2,584 -
20,083 17,588
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6. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 48,088 45,865
Bank loans and overdrafts 249 -
Corporation tax 7,875 6,343
Other taxes and social security 12,201 11,725
VAT 20,774 49,466
Other creditors 11,491 11,491
Accruals and deferred income - 1,903
Amounts owed to associates 3,041 -
103,719 126,793
7. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Bank loans 43,158 46,811
Other loans 59,850 79,000
103,008 125,811
8. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 100 100
9. General Information
One Finn Leisure Limited is a private company, limited by shares, incorporated in Scotland, registered number SC524417 . The registered office is 1037 Sauchiehall Street, Glasgow, G3 7TZ.
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