Acorah Software Products - Accounts Production 15.0.600 false true 31 March 2023 1 April 2022 false 1 April 2023 31 March 2024 31 March 2024 SC367497 Mr Kenneth Whitehurst Mr Robert Adam Mr R Adam & Mr K Whitehurst true iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure SC367497 2023-03-31 SC367497 2024-03-31 SC367497 2023-04-01 2024-03-31 SC367497 frs-core:CurrentFinancialInstruments 2024-03-31 SC367497 frs-core:FurnitureFittings 2024-03-31 SC367497 frs-core:FurnitureFittings 2023-04-01 2024-03-31 SC367497 frs-core:FurnitureFittings 2023-03-31 SC367497 frs-core:ShareCapital 2024-03-31 SC367497 frs-core:RetainedEarningsAccumulatedLosses 2024-03-31 SC367497 frs-bus:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 SC367497 frs-bus:FilletedAccounts 2023-04-01 2024-03-31 SC367497 frs-bus:SmallEntities 2023-04-01 2024-03-31 SC367497 frs-bus:AuditExemptWithAccountantsReport 2023-04-01 2024-03-31 SC367497 frs-bus:SmallCompaniesRegimeForAccounts 2023-04-01 2024-03-31 SC367497 1 2023-04-01 2024-03-31 SC367497 frs-bus:Director1 2023-04-01 2024-03-31 SC367497 frs-bus:Director1 2023-03-31 SC367497 frs-bus:Director1 2024-03-31 SC367497 frs-bus:Director2 2023-04-01 2024-03-31 SC367497 frs-bus:Director2 2023-03-31 SC367497 frs-bus:Director2 2024-03-31 SC367497 frs-countries:Scotland 2023-04-01 2024-03-31 SC367497 2022-03-31 SC367497 2023-03-31 SC367497 2022-04-01 2023-03-31 SC367497 frs-core:CurrentFinancialInstruments 2023-03-31 SC367497 frs-core:ShareCapital 2023-03-31 SC367497 frs-core:RetainedEarningsAccumulatedLosses 2023-03-31
Registered number: SC367497
Tayside Investments Ltd.
Financial Statements
For The Year Ended 31 March 2024
Gillespie's Fife
Contents
Page
Accountants' Report 1
Balance Sheet 2—3
Notes to the Financial Statements 4—6
Page 1
Accountants' Report
Chartered Accountants' report to the directors on the preparation of the unaudited statutory accounts of Tayside Investments Ltd. for the year ended 31 March 2024
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Tayside Investments Ltd. for the year ended 31 March 2024 which comprise the Profit and Loss Account, the Balance Sheet and the related notes from the company's accounting records and from information and explanations you have given to us.
As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at http://www.icaew.com/en/membership/regulations-standards-and-guidance.
This report is made solely to the directors of Tayside Investments Ltd. , as a body, in accordance with the terms of our engagement letter dated 26 February 2015. Our work has been undertaken solely to prepare for your approval the accounts of Tayside Investments Ltd. and state those matters that we have agreed to state to the directors of Tayside Investments Ltd. , as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Tayside Investments Ltd. and its directors, as a body, for our work or for this report.
It is your duty to ensure that Tayside Investments 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 Tayside Investments Ltd. . You consider that Tayside Investments Ltd. is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit of the accounts of Tayside Investments 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
21st June 2024
Gillespie's Fife
Accountants
Fric Ajax Way
Methil
Leven
KY8 3RS
Page 1
Page 2
Balance Sheet
Registered number: SC367497
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 1,363 1,603
1,363 1,603
CURRENT ASSETS
Debtors 5 43,482 79,021
Cash at bank and in hand 20,195 36,156
63,677 115,177
Creditors: Amounts Falling Due Within One Year 6 (30,150 ) (37,704 )
NET CURRENT ASSETS (LIABILITIES) 33,527 77,473
TOTAL ASSETS LESS CURRENT LIABILITIES 34,890 79,076
PROVISIONS FOR LIABILITIES
Deferred Taxation (259 ) (305 )
NET ASSETS 34,631 78,771
CAPITAL AND RESERVES
Called up share capital 7 4 4
Profit and Loss Account 34,627 78,767
SHAREHOLDERS' FUNDS 34,631 78,771
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For the year ending 31 March 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 Robert Adam
Director
21st June 2024
The notes on pages 4 to 6 form part of these financial statements.
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Notes to the Financial Statements
1. General Information
Tayside Investments Ltd. is a private company, limited by shares, incorporated in Scotland, registered number SC367497 . The registered office is 1 Stirling Street, Dundee, DD3 6PJ.
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.
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:
Fixtures & Fittings 15% RB
2.4. Taxation
Corporation 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: 2 (2023: 2)
2 2
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4. Tangible Assets
Fixtures & Fittings
£
Cost
As at 1 April 2023 7,179
As at 31 March 2024 7,179
Depreciation
As at 1 April 2023 5,576
Provided during the period 240
As at 31 March 2024 5,816
Net Book Value
As at 31 March 2024 1,363
As at 1 April 2023 1,603
5. Debtors
2024 2023
£ £
Due within one year
Directors' loan accounts 43,482 79,021
6. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 328 300
Bank loans and overdrafts 20,417 27,344
Corporation tax 8,205 8,890
Accruals and deferred income 1,200 1,170
30,150 37,704
7. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 4 4
8. Directors Advances, Credits and Guarantees
Included within Debtors are the following loans to directors:
As at 1 April 2023 Amounts advanced Amounts repaid Amounts written off As at 31 March 2024
£ £ £ £ £
Mr Kenneth Whitehurst 39,511 21,741 (39,511 ) - 21,741
Mr Robert Adam 39,510 21,742 (39,511 ) - 21,741
The above loan is unsecured, interest free and repayable on demand.
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9. Dividends
2024 2023
£ £
On equity shares:
Final dividend paid 79,022 56,558
Final dividends of £43,482 were declared on 6 May 2024.
10. Ultimate Controlling Party
The company's ultimate controlling parties are Mr R Adam & Mr K Whitehurst by virtue of ownership of 100% of the issued share capital in the company.
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