Acorah Software Products - Accounts Production 15.0.600 false true 31 May 2023 1 June 2022 false 1 June 2023 31 May 2024 31 May 2024 SC248596 Mr S A Aiken iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure SC248596 2023-05-31 SC248596 2024-05-31 SC248596 2023-06-01 2024-05-31 SC248596 frs-core:CurrentFinancialInstruments 2024-05-31 SC248596 frs-core:Non-currentFinancialInstruments 2024-05-31 SC248596 frs-core:FurnitureFittings 2024-05-31 SC248596 frs-core:FurnitureFittings 2023-06-01 2024-05-31 SC248596 frs-core:FurnitureFittings 2023-05-31 SC248596 frs-core:NetGoodwill 2024-05-31 SC248596 frs-core:NetGoodwill 2023-06-01 2024-05-31 SC248596 frs-core:NetGoodwill 2023-05-31 SC248596 frs-core:LandBuildings frs-core:OwnedOrFreeholdAssets 2024-05-31 SC248596 frs-core:LandBuildings frs-core:OwnedOrFreeholdAssets 2023-06-01 2024-05-31 SC248596 frs-core:LandBuildings frs-core:OwnedOrFreeholdAssets 2023-05-31 SC248596 frs-core:ShareCapital 2024-05-31 SC248596 frs-core:RetainedEarningsAccumulatedLosses 2024-05-31 SC248596 frs-bus:PrivateLimitedCompanyLtd 2023-06-01 2024-05-31 SC248596 frs-bus:FilletedAccounts 2023-06-01 2024-05-31 SC248596 frs-bus:SmallEntities 2023-06-01 2024-05-31 SC248596 frs-bus:AuditExempt-NoAccountantsReport 2023-06-01 2024-05-31 SC248596 frs-bus:SmallCompaniesRegimeForAccounts 2023-06-01 2024-05-31 SC248596 frs-core:CostValuation 2023-05-31 SC248596 frs-core:CostValuation 2024-05-31 SC248596 frs-core:ProvisionsForImpairmentInvestments 2023-05-31 SC248596 frs-core:ProvisionsForImpairmentInvestments 2024-05-31 SC248596 frs-bus:Director1 2023-06-01 2024-05-31 SC248596 frs-bus:Director1 2023-05-31 SC248596 frs-bus:Director1 2024-05-31 SC248596 frs-countries:Scotland 2023-06-01 2024-05-31 SC248596 2022-05-31 SC248596 2023-05-31 SC248596 2022-06-01 2023-05-31 SC248596 frs-core:CurrentFinancialInstruments 2023-05-31 SC248596 frs-core:Non-currentFinancialInstruments 2023-05-31 SC248596 frs-core:ShareCapital 2023-05-31 SC248596 frs-core:RetainedEarningsAccumulatedLosses 2023-05-31
Mackie & Aiken Limited
Unaudited Financial Statements
For The Year Ended 31 May 2024
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—6
Page 1
Balance Sheet
Registered number: SC248596
2024 2023
as restated
Notes £ £ £ £
FIXED ASSETS
Intangible Assets 4 56,800 64,400
Tangible Assets 5 461,172 474,617
Investments 6 2 2
517,974 539,019
CURRENT ASSETS
Debtors 7 98,732 104,933
Cash at bank and in hand 79,230 23,020
177,962 127,953
Creditors: Amounts Falling Due Within One Year 8 (353,572 ) (283,592 )
NET CURRENT ASSETS (LIABILITIES) (175,610 ) (155,639 )
TOTAL ASSETS LESS CURRENT LIABILITIES 342,364 383,380
Creditors: Amounts Falling Due After More Than One Year 9 (154,450 ) (212,171 )
NET ASSETS 187,914 171,209
CAPITAL AND RESERVES
Called up share capital 11 40,000 40,000
Profit and Loss Account 147,914 131,209
SHAREHOLDERS' FUNDS 187,914 171,209
Page 1
Page 2
For the year ending 31 May 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 S A Aiken
Director
27th August 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
Mackie & Aiken Limited is a private company, limited by shares, incorporated in Scotland, registered number SC248596 . The registered office is 10 Merchant Street, Peterhead, AB42 1BU.
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. 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 .... years.
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 2% on cost
Fixtures & Fittings 15% on cost
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 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: NIL (2023: NIL)
- -
Page 3
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4. Intangible Assets
Goodwill
£
Cost
As at 1 June 2023 152,000
As at 31 May 2024 152,000
Amortisation
As at 1 June 2023 87,600
Provided during the period 7,600
As at 31 May 2024 95,200
Net Book Value
As at 31 May 2024 56,800
As at 1 June 2023 64,400
5. Tangible Assets
Land & Property
Freehold Fixtures & Fittings Total
£ £ £
Cost
As at 1 June 2023 672,241 164,588 836,829
As at 31 May 2024 672,241 164,588 836,829
Depreciation
As at 1 June 2023 197,624 164,588 362,212
Provided during the period 13,445 - 13,445
As at 31 May 2024 211,069 164,588 375,657
Net Book Value
As at 31 May 2024 461,172 - 461,172
As at 1 June 2023 474,617 - 474,617
6. Investments
Other
£
Cost
As at 1 June 2023 2
As at 31 May 2024 2
Provision
As at 1 June 2023 -
As at 31 May 2024 -
Net Book Value
As at 31 May 2024 2
As at 1 June 2023 2
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7. Debtors
2024 2023
as restated
£ £
Due within one year
Trade debtors 6,484 1,676
Other debtors 50,151 55,718
Director's loan account 42,097 47,539
98,732 104,933
8. Creditors: Amounts Falling Due Within One Year
2024 2023
as restated
£ £
Trade creditors 7,041 6,234
Bank loans and overdrafts 10,925 10,925
Corporation tax 12,493 36,158
VAT 5,729 7,528
Other creditors 129,070 75,346
Accruals and deferred income 3,407 3,758
Amounts owed to group undertakings 184,907 143,643
353,572 283,592
9. Creditors: Amounts Falling Due After More Than One Year
2024 2023
as restated
£ £
Bank loans 56,762 67,592
Other creditors 97,688 144,579
154,450 212,171
10. Secured Creditors
Of the creditors the following amounts are secured.
Tennents Caledonian Ltd
2024 2023
as restated
£ £
Other Creditors 144,579 191,469
11. Share Capital
2024 2023
as restated
£ £
Allotted, Called up and fully paid 40,000 40,000
Page 5
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12. Directors Advances, Credits and Guarantees
Included within Debtors are the following interest free loans to directors:
As at 1 June 2023 Amounts advanced Amounts repaid Amounts written off As at 31 May 2024
£ £ £ £ £
Mr Stewart Aiken 47,539 375 5,817 - 42,097
Page 6