Acorah Software Products - Accounts Production 15.0.600 false true 30 April 2023 1 May 2022 false 1 May 2023 30 April 2024 30 April 2024 SC267060 D Wylie K Wylie D Wylie iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure SC267060 frs-core:Non-currentFinancialInstruments frs-core:MoreThanFiveYears 2024-04-30 SC267060 2023-04-30 SC267060 2024-04-30 SC267060 2023-05-01 2024-04-30 SC267060 frs-core:CurrentFinancialInstruments 2024-04-30 SC267060 frs-core:Non-currentFinancialInstruments 2024-04-30 SC267060 frs-core:DevelopmentCostsCapitalisedDevelopmentExpenditure 2023-05-01 2024-04-30 SC267060 frs-core:FurnitureFittings 2023-05-01 2024-04-30 SC267060 frs-core:LandBuildings 2024-04-30 SC267060 frs-core:LandBuildings 2023-05-01 2024-04-30 SC267060 frs-core:LandBuildings 2023-04-30 SC267060 frs-core:LandBuildings frs-core:LeasedAssetsHeldAsLessee 2023-05-01 2024-04-30 SC267060 frs-core:LandBuildings frs-core:OwnedOrFreeholdAssets 2023-05-01 2024-04-30 SC267060 frs-core:MotorVehicles 2023-05-01 2024-04-30 SC267060 frs-core:OtherResidualIntangibleAssets 2024-04-30 SC267060 frs-core:OtherResidualIntangibleAssets 2023-04-30 SC267060 frs-core:PlantMachinery 2024-04-30 SC267060 frs-core:PlantMachinery 2023-05-01 2024-04-30 SC267060 frs-core:PlantMachinery 2023-04-30 SC267060 frs-core:WithinOneYear 2024-04-30 SC267060 frs-core:ShareCapital 2024-04-30 SC267060 frs-core:RetainedEarningsAccumulatedLosses 2024-04-30 SC267060 frs-bus:PrivateLimitedCompanyLtd 2023-05-01 2024-04-30 SC267060 frs-bus:FilletedAccounts 2023-05-01 2024-04-30 SC267060 frs-bus:SmallEntities 2023-05-01 2024-04-30 SC267060 frs-bus:AuditExempt-NoAccountantsReport 2023-05-01 2024-04-30 SC267060 frs-bus:SmallCompaniesRegimeForAccounts 2023-05-01 2024-04-30 SC267060 frs-bus:Director1 2023-05-01 2024-04-30 SC267060 frs-bus:Director2 2023-05-01 2024-04-30 SC267060 frs-bus:CompanySecretary1 2023-05-01 2024-04-30 SC267060 frs-countries:Scotland 2023-05-01 2024-04-30 SC267060 frs-core:Non-currentFinancialInstruments frs-core:MoreThanFiveYears 2023-04-30 SC267060 2022-04-30 SC267060 2023-04-30 SC267060 2022-05-01 2023-04-30 SC267060 frs-core:CurrentFinancialInstruments 2023-04-30 SC267060 frs-core:Non-currentFinancialInstruments 2023-04-30 SC267060 frs-core:BetweenOneFiveYears 2023-04-30 SC267060 frs-core:WithinOneYear 2023-04-30 SC267060 frs-core:ShareCapital 2023-04-30 SC267060 frs-core:RetainedEarningsAccumulatedLosses 2023-04-30
Registered number: SC267060
W. R. C. Construction Limited
Unaudited Financial Statements
For The Year Ended 30 April 2024
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—7
Page 1
Balance Sheet
Registered number: SC267060
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 5 226,067 205,952
226,067 205,952
CURRENT ASSETS
Stocks 6 - 7,886
Debtors 7 324,629 319,258
Cash at bank and in hand 7,116 45,485
331,745 372,629
Creditors: Amounts Falling Due Within One Year 8 (343,801 ) (437,319 )
NET CURRENT ASSETS (LIABILITIES) (12,056 ) (64,690 )
TOTAL ASSETS LESS CURRENT LIABILITIES 214,011 141,262
Creditors: Amounts Falling Due After More Than One Year 9 (125,342 ) (110,611 )
PROVISIONS FOR LIABILITIES
Deferred Taxation (24,449 ) (20,416 )
NET ASSETS 64,220 10,235
CAPITAL AND RESERVES
Called up share capital 10 99 99
Profit and Loss Account 64,121 10,136
SHAREHOLDERS' FUNDS 64,220 10,235
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For the year ending 30 April 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
D Wylie
Director
05/09/2024
The notes on pages 3 to 7 form part of these financial statements.
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Notes to the Financial Statements
1. General Information
W. R. C. Construction Limited is a private company, limited by shares, incorporated in Scotland, registered number SC267060 . The registered office is Crowness Crescent, Kirkwall, Orkney Islands, KW15 1GJ.
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. Intangible Fixed Assets and Amortisation - Other Intangible
Intangible assets acquired separately from a business are recognised at cost and are subsequently measured at cost less accumulated amortisation and accumulated impairment losses.

Amortisation is recognised so as to write off the cost or valuation of assets less their residual values over
their useful lives on a straight line basis over the lease term.
2.4. 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 basis
Leasehold straight line over lease term
Plant & Machinery 25% reducing balance basis
Motor Vehicles 25% reducing balance basis
Fixtures & Fittings 25% reducing balance basis
2.5. Leasing and Hire Purchase Contracts
Assets obtained under hire purchase contracts and finance leases are capitalised as tangible fixed assets. Assets acquired under finance leases are depreciated over the shorter of the lease term and their useful lives. Assets acquired under hire purchase contracts are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in the creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.

Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to profit and loss account as incurred.
2.6. 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.
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2.7. Financial Instruments
The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ of FRS 102 to all of its
financial instruments.

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a
legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets, which include debtors and cash balances, are initially measured at transaction price including
transaction costs and are subsequently carried at amortised cost using the effective interest method. Financial assets classified as receivable within one year are not amortised.

Impairment of financial assets
Financial assets, other than those held at fair value through profit and loss, are assessed for indicators of impairment at each reporting end date.

Derecognition of financial assets
Financial assets are derecognised only when the contractual rights to the cash flows from the asset expire or are settled, or when the company transfers the financial asset and substantially all the risks and rewards of ownership to another entity, or if some significant risks and rewards of ownership are retained but control of the asset has transferred to another party that is able to sell the asset in its entirety to an unrelated third party.

Classification of financial liabilities
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements
entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Basic financial liabilities
Basic financial liabilities, including creditors, bank loans and loans from connected parties are initially recognised at
transaction price and are subsequently carried at amortised cost, using the effective interest rate method. Financial
liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Derecognition of financial liabilities
Financial liabilities are derecognised when the company’s contractual obligations expire or are discharged or cancelled.

Equity Instruments
Equity instruments issued by the company are recorded at the process received, net of transaction costs. Dividends
payable on equity intruments are recognised as liabilities once they are no longer at the discretion of the company.
2.8. Taxation
The tax expense represents the sum of the tax currently payable and deferred tax.
Current 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
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.
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2.9. Pensions
The company operates a defined pension contribution scheme. Contributions are charged to the profit and loss account as they become payable in accordance with the rules of the scheme.
2.10. Construction contracts
Where the outcome of a construction contract can be estimated reliably, revenue and costs are recognised by reference to the stage of completion of the contract activity at the reporting end date. Variations in contract work, claims and incentive payments are included to the extent that the amount can be measured reliably and its receipt is considered probable.

When it is probable that total contract costs will exceed total contract turnover, the expected loss is recognised as an expense immediately.

Where the outcome of a construction contract cannot be estimated reliably, contract revenue is recognised to the extent of contract costs incurred where it is probable that they will be recoverable. Contract costs are recognised as expenses in the period in which they are incurred. When costs incurred in securing a contract are recognised as an expense in the period in which they are incurred, they are not included in contract costs if the contract is obtained in a subsequent period.

The “percentage of completion method” is used to determine the appropriate amount to recognise in a given period. The stage of completion is measured by the proportion of contract costs incurred for work performed to date compared to the estimated total contract costs. Costs incurred in the year in connection with future activity on a contract are excluded from contract costs in determining the stage of completion. These costs are presented as stocks, prepayments or other assets depending on their nature, and provided it is probable they will be recovered.
2.11. Cash and cash equivalents
Cash at bank and in hand are basic financial assets and includes cash in hand and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.
2.12. Equity instruments
Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 17 (2023: 17)
17 17
4. Intangible Assets
Other
£
Cost
As at 1 May 2023 1,127
As at 30 April 2024 1,127
Amortisation
As at 1 May 2023 1,127
As at 30 April 2024 1,127
Net Book Value
As at 30 April 2024 -
As at 1 May 2023 -
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5. Tangible Assets
Land & Buildings Plant & Machinery etc. Total
£ £ £
Cost
As at 1 May 2023 111,405 676,913 788,318
Additions - 67,489 67,489
Disposals - (23,958 ) (23,958 )
As at 30 April 2024 111,405 720,444 831,849
Depreciation
As at 1 May 2023 14,615 567,751 582,366
Provided during the period 1,936 43,737 45,673
Disposals - (22,257 ) (22,257 )
As at 30 April 2024 16,551 589,231 605,782
Net Book Value
As at 30 April 2024 94,854 131,213 226,067
As at 1 May 2023 96,790 109,162 205,952
6. Stocks
2024 2023
£ £
Materials - 7,886
7. Debtors
2024 2023
£ £
Due within one year
Trade debtors 93,015 143,070
Other debtors 231,614 176,188
324,629 319,258
8. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Net obligations under finance lease and hire purchase contracts 24,016 20,058
Trade creditors 146,518 175,940
Bank loans and overdrafts 127,561 119,548
Other creditors 40,527 40,956
Taxation and social security 5,179 80,817
343,801 437,319
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9. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Net obligations under finance lease and hire purchase contracts 25,318 2,376
Bank loans 100,024 108,235
125,342 110,611
The company has granted to The Royal Bank of Scotland PLC securities for any borrowings, in the form of standard securities over land & buildings; a bond & floating charge; and a negative pledge.
The company operates plant & machinery on hire purchase terms.
Of the creditors falling due after more than one year the following amounts are due after more than five years.
2024 2023
£ £
Bank loans 51,319 61,788
10. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 99 99
11. Other Commitments
The total of future minimum lease payments under non-cancellable operating leases are as following:
2024 2023
£ £
Not later than one year 1,014 7,800
Later than one year and not later than five years - 1,014
1,014 8,814
12. Directors Advances, Credits and Guarantees
In the year the company advanced loans to certain directors totalling £65,754 (2023: £49,120). The directors repaid £41,400 (2023: £13,292) relating to the outstanding loans. At the year end, those directors owed the company £98,522 (2023: £74,168).
The above loan is unsecured, interest free and repayable on demand.
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