Acorah Software Products - Accounts Production 15.0.600 false true true No description of principal activity 1 October 2022 30 September 2023 30 September 2023 SC516853 Mr Ka Wai Cheng iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure SC516853 2022-09-30 SC516853 2023-09-30 SC516853 2022-10-01 2023-09-30 SC516853 frs-core:Non-currentFinancialInstruments 2023-09-30 SC516853 frs-core:ComputerEquipment 2022-10-01 2023-09-30 SC516853 frs-core:LandBuildings frs-core:OwnedOrFreeholdAssets 2022-10-01 2023-09-30 SC516853 frs-core:ShareCapital 2023-09-30 SC516853 frs-core:RetainedEarningsAccumulatedLosses 2023-09-30 SC516853 frs-bus:PrivateLimitedCompanyLtd 2022-10-01 2023-09-30 SC516853 frs-bus:AbridgedAccounts 2022-10-01 2023-09-30 SC516853 frs-bus:SmallEntities 2022-10-01 2023-09-30 SC516853 frs-bus:AuditExemptWithAccountantsReport 2022-10-01 2023-09-30 SC516853 frs-bus:SmallCompaniesRegimeForAccounts 2022-10-01 2023-09-30 SC516853 frs-bus:SmallCompaniesRegimeForDirectorsReport 2022-10-01 2023-09-30 SC516853 frs-core:LeasedAssets 2022-10-01 2023-09-30 SC516853 frs-core:CostValuation 2022-09-30 SC516853 frs-core:CostValuation 2023-09-30 SC516853 frs-bus:Director1 2022-10-01 2023-09-30 SC516853 frs-countries:Scotland 2022-10-01 2023-09-30
Registered number: SC516853
Gilcomstoun Properties Ltd
Director's Report and
Unaudited Abridged Financial Statements
For The Year Ended 30 September 2023
Airton Broomhill Consulting
ACCA
88 Pittodrie Place
Aberdeen
AB24 5QT
Contents
Page
Company Information 1
Director's Report 2
Accountant's Report 3
Abridged Income Statement 4
Abridged Statement of Financial Position 5—6
Notes to the Abridged Financial Statements 7—8
Page 1
Company Information
Director Mr Ka Wai Cheng
Company Number SC516853
Registered Office 67 Gilcomstoun Land
Aberdeen
Aberdeens City
AB10 1TB
Accountants Airton Broomhill Consulting
ACCA
88 Pittodrie Place
Aberdeen
AB24 5QT
Page 1
Page 2
Director's Report
The director presents his report and the financial statements for the year ended 30 September 2023.
Directors
The director who held office during the year were as follows:
Mr Ka Wai Cheng
Statement of Director's Responsibilities
The director is responsible for preparing the Director's Report and the financial statements in accordance with applicable law and regulations.
Company law requires the director to prepare financial statements for each financial year. Under that law the director has elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the director must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing the financial statements the director is required to:
  • select suitable accounting policies and then apply them consistently;
  • make judgments and accounting estimates that are reasonable and prudent;
  • prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.
The director is responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. He is also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
The director is responsible for the maintenance and integrity of the corporate and financial information included on the company's website. Legislation in the United Kingdom governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.
Small Company Rules
This report has been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.
On behalf of the board
Mr Ka Wai Cheng
Director
01/09/2024
Page 2
Page 3
Accountant's Report
Report to the director on the preparation of the unaudited statutory accounts of Gilcomstoun Properties Ltd for the year ended 30 September 2023
To assist you to fulfil your duties under the Companies Act 2006, I have prepared for your approval the accounts of Gilcomstoun Properties Ltd which comprise the Income Statement, the Statement of Financial Position and the related notes, from the company’s accounting records and from information and explanations you have given us.
As a practising member of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at http://www.accaglobal.com/en/member/professional-standards/rules-standards/acca-rulebook.html.
This report is made to the director of Gilcomstoun Properties Ltd , as a body, in accordance with the terms of our engagement letter dated . Our work has been undertaken solely to prepare for your approval the accounts of Gilcomstoun Properties Ltd and state those matters that we have agreed to state to the director of Gilcomstoun Properties Ltd , as a body, in this report in accordance with the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/content/dam/ACCA_Global/Technical/fact/technical-factsheet-163.pdf. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Gilcomstoun Properties Ltd and its director as a body for our work or for this report.
It is your duty to ensure that Gilcomstoun Properties Ltd has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit or loss of Gilcomstoun Properties Ltd . You consider that Gilcomstoun Properties Ltd is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit or a review of the accounts of Gilcomstoun Properties Ltd . For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the financial statements.
Signed
01/09/2024
Airton Broomhill Consulting
ACCA
88 Pittodrie Place
Aberdeen
AB24 5QT
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Page 4
Abridged Income Statement
2023
Notes £
GROSS LOSS (78,096 )
Administrative expenses (4,004 )
OPERATING LOSS AND LOSS FOR THE FINANCIAL YEAR (82,100 )
The notes on pages 7 to 8 form part of these financial statements.
Page 4
Page 5
Abridged Statement of Financial Position
2023
Notes £ £
FIXED ASSETS
Tangible Assets 6 183,189
Investments 7 304,030
487,219
CURRENT ASSETS
Debtors 12,000
Cash at bank and in hand 20,752
32,752
Creditors: Amounts Falling Due Within One Year (152,784 )
NET CURRENT ASSETS (LIABILITIES) (120,032 )
TOTAL ASSETS LESS CURRENT LIABILITIES 367,187
Creditors: Amounts Falling Due After More Than One Year (68,701 )
NET ASSETS 298,486
CAPITAL AND RESERVES
Called up share capital 8 100
Income Statement 298,386
SHAREHOLDERS' FUNDS 298,486
Page 5
Page 6
For the year ending 30 September 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 in accordance with the provisions applicable to companies subject to the small companies' regime.
All of the company's members have consented to the preparation of an Abridged Income Statement and an Abridged Statement of Financial Position for the year end 30 September 2023 in accordance with section 444(2A) of the Companies Act 2006.
On behalf of the board
Mr Ka Wai Cheng
Director
01/09/2024
The notes on pages 7 to 8 form part of these financial statements.
Page 6
Page 7
Notes to the Abridged Financial Statements
1. General Information
Gilcomstoun Properties Ltd is a private company, limited by shares, incorporated in Scotland, registered number SC516853 . The registered office is 67 Gilcomstoun Land, Aberdeen, Aberdeens City, AB10 1TB.
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:
Freehold 2% straight line
Computer Equipment 25% reducing balance
3. Operating Loss
The operating loss is stated after charging:
2023
£
Depreciation of tangible fixed assets - finance leases and hire purchase contracts 4,415
4. Average Number of Employees
Average number of employees, including directors, during the year was: 1
1
5. Tax on Profit
Tax Rate 2023
2023 £
Current tax
UK Corporation Tax 19.0% -
2023
£
Profit before tax (82,100)
Breakdown of tax charge is:
Tax on profit at 0% (UK standard rate) -
Total tax charge for the period -
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6. Tangible Assets
Total
£
Cost or Valuation
As at 1 October 2022 206,041
As at 30 September 2023 206,041
Depreciation
As at 1 October 2022 22,852
As at 30 September 2023 22,852
Net Book Value
As at 30 September 2023 183,189
As at 1 October 2022 183,189
7. Investments
Total
£
Cost
As at 1 October 2022 304,030
As at 30 September 2023 304,030
Provision
As at 1 October 2022 -
As at 30 September 2023 -
Net Book Value
As at 30 September 2023 304,030
As at 1 October 2022 304,030
Of the creditors the following amounts are secured.
2023
£
Bank loans and overdrafts 68,701
8. Share Capital
2023
£
Allotted, Called up and fully paid 100
Page 8