Acorah Software Products - Accounts Production 15.0.600 false true 31 December 2022 1 January 2022 false 1 January 2023 31 December 2023 31 December 2023 SC239366 Mr C Kinghorn Mr G Kinghorn Mrs J Kinghorn Mrs J Kinghorn false iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure SC239366 2022-12-31 SC239366 2023-12-31 SC239366 2023-01-01 2023-12-31 SC239366 frs-core:CurrentFinancialInstruments 2023-12-31 SC239366 frs-core:Non-currentFinancialInstruments 2023-12-31 SC239366 frs-core:ComputerEquipment 2023-01-01 2023-12-31 SC239366 frs-core:DevelopmentCostsCapitalisedDevelopmentExpenditure 2023-01-01 2023-12-31 SC239366 frs-core:LandBuildings 2023-12-31 SC239366 frs-core:LandBuildings 2023-01-01 2023-12-31 SC239366 frs-core:LandBuildings 2022-12-31 SC239366 frs-core:LandBuildings frs-core:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 SC239366 frs-core:MotorVehicles 2023-01-01 2023-12-31 SC239366 frs-core:OtherResidualIntangibleAssets 2023-12-31 SC239366 frs-core:OtherResidualIntangibleAssets 2023-01-01 2023-12-31 SC239366 frs-core:OtherResidualIntangibleAssets 2022-12-31 SC239366 frs-core:PlantMachinery 2023-12-31 SC239366 frs-core:PlantMachinery 2023-01-01 2023-12-31 SC239366 frs-core:PlantMachinery 2022-12-31 SC239366 frs-core:WithinOneYear 2023-12-31 SC239366 frs-core:ShareCapital 2023-12-31 SC239366 frs-core:RetainedEarningsAccumulatedLosses 2023-12-31 SC239366 frs-bus:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 SC239366 frs-bus:FilletedAccounts 2023-01-01 2023-12-31 SC239366 frs-bus:SmallEntities 2023-01-01 2023-12-31 SC239366 frs-bus:AuditExempt-NoAccountantsReport 2023-01-01 2023-12-31 SC239366 frs-bus:SmallCompaniesRegimeForAccounts 2023-01-01 2023-12-31 SC239366 frs-bus:OrdinaryShareClass2 2023-01-01 2023-12-31 SC239366 frs-bus:OrdinaryShareClass2 2023-12-31 SC239366 frs-bus:OrdinaryShareClass3 2023-01-01 2023-12-31 SC239366 frs-bus:OrdinaryShareClass3 2023-12-31 SC239366 frs-bus:OrdinaryShareClass4 2023-01-01 2023-12-31 SC239366 frs-bus:OrdinaryShareClass4 2023-12-31 SC239366 1 2023-01-01 2023-12-31 SC239366 frs-core:DeferredTaxation 2022-12-31 SC239366 frs-core:DeferredTaxation 2023-12-31 SC239366 frs-bus:Director1 2023-01-01 2023-12-31 SC239366 frs-bus:Director2 2023-01-01 2023-12-31 SC239366 frs-bus:Director3 2023-01-01 2023-12-31 SC239366 frs-bus:CompanySecretary1 2023-01-01 2023-12-31 SC239366 2 2023-01-01 2023-12-31 SC239366 frs-countries:Scotland 2023-01-01 2023-12-31 SC239366 2021-12-31 SC239366 2022-12-31 SC239366 2022-01-01 2022-12-31 SC239366 frs-core:CurrentFinancialInstruments 2022-12-31 SC239366 frs-core:Non-currentFinancialInstruments 2022-12-31 SC239366 frs-core:WithinOneYear 2022-12-31 SC239366 frs-core:ShareCapital 2022-12-31 SC239366 frs-core:RetainedEarningsAccumulatedLosses 2022-12-31 SC239366 frs-bus:OrdinaryShareClass2 2022-01-01 2022-12-31 SC239366 frs-bus:OrdinaryShareClass3 2022-01-01 2022-12-31 SC239366 frs-bus:OrdinaryShareClass4 2022-01-01 2022-12-31
Registered number: SC239366
Kinghorn Bodyshop Limited
Unaudited Financial Statements
For The Year Ended 31 December 2023
Unaudited Financial Statements
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—8
Page 1
Balance Sheet
Registered number: SC239366
2023 2022
Notes £ £ £ £
FIXED ASSETS
Intangible Assets 4 1,090 -
Tangible Assets 5 623,617 393,982
624,707 393,982
CURRENT ASSETS
Stocks 6 148,309 127,966
Debtors 7 269,408 615,542
Cash at bank and in hand 273,780 31,683
691,497 775,191
Creditors: Amounts Falling Due Within One Year 8 (422,078 ) (446,828 )
NET CURRENT ASSETS (LIABILITIES) 269,419 328,363
TOTAL ASSETS LESS CURRENT LIABILITIES 894,126 722,345
Creditors: Amounts Falling Due After More Than One Year 9 (12,533 ) (21,757 )
PROVISIONS FOR LIABILITIES
Deferred Taxation (114,137 ) (82,411 )
NET ASSETS 767,456 618,177
CAPITAL AND RESERVES
Called up share capital 12 100 100
Profit and Loss Account 767,356 618,077
SHAREHOLDERS' FUNDS 767,456 618,177
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For the year ending 31 December 2023 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
Mrs J Kinghorn
Director
9 September 2024
The notes on pages 3 to 8 form part of these financial statements.
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Notes to the Financial Statements
1. General Information
Kinghorn Bodyshop Limited is a private company, limited by shares, incorporated in Scotland, registered number SC239366 . The registered office is Blackburn Business Park, Blackburn, Aberdeen, AB21 0PS.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
These financial statements have been prepared in accordance with FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" ("FRS 102") and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention. The principal accounting policies are set out below.
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, the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the entity and the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Turnover includes repair work which is incomplete at the year end, where it is possible to invoice work done to date. Where it is not possible to invoice on-going repair work it is included in stocks.
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
Other intangible assets comprises carbon credits.  
Intangible assets are initially recognised at cost and are subsequently measured at cost less accumulated amortisation and accumulated impairment losses.
Intangible assets are amorised to profit or loss on a straight line basis over their useful life of 10 years.
If the recoverable amount is estimated to be less than its carrying amount, the carrying amount will be reduced to its recoverable amount.  An impariment loss is recognsied immediately in profit or loss.
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 10% straight line
Plant & Machinery 15% reducing balance
Motor Vehicles 15% reducing balance
Computer Equipment 3 years to straight line
The gains or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to the profit or loss.
Residual value is calculated on prices prevailing at the reporting date, after estimated costs of disposal, for the asset as if it were at the age and condition expected at the end of its useful life.
Impairment of fixed assets
...CONTINUED
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2.4. Tangible Fixed Assets and Depreciation - continued
At each reporting period end date, the company reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any).
If the recoverable amount of an asset is estimated to be less than its carrying amount, the carrying amount of the asset is reduced to its recoverable amount. An impairment loss is recognised immediately in profit or loss.
2.5. 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.

At each reproting date, an assesment is made for impairment. Any excess in carrying amount of stocks over its estimated selling price less costs to complate and sell is recognised as an impairment loss in profit and loss.
2.6. 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.

Basic financial assets
Basic financial assets, which include debtors, cash and bank 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 are assessed for indicators of impairment at each reporting end date.

Financial assets are impaired when there is objective evidence that, as a result of one or more events that occurred after the initial recognition of the financial asset, the estimated future cash flows have been affected. If an asset is impaired, the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset's original effective interest rate. The impairment loss is recognised in profit and loss.

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.

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 and loans, 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.

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 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.
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2.7. Taxation
The tax expense represents the sum of the tax currently payable and deferred tax movements.
Current tax
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the profit and loss because it excludes items of income or expenses that are taxable or deductible in other years and it further excludes items that were 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.
2.8. 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. Differences between contributions payable in the year and contributions actually paid are shown as either other debtors or other creditors.
2.9. Government Grant
Government grants are recognised in the profit and loss account in an appropriate manner that matches them with the expenditure towards which they are intended to contribute.
Grants for immediate financial support or to cover costs already incurred are recognised immediately in the profit and loss account. Grants towards general activities of the entity over a specific period are recognised in the profit and loss account over that period.
Grants towards fixed assets are recognised over the expected useful lives of the related assets and are treated as deferred income and released to the profit and loss account over the useful life of the asset concerned.
All grants in the profit and loss account are recognised when all conditions for receipt have been complied with.
2.10. Provisions
Provisions are recognised when the company has an obligation at the reporting date as a result of a past event which it is probable will result in the transfer of economic benefits and that obligation can be estimated reliably.

Provisions are measured as the best estimate of the amounts required to settle the obligation. Where the effect of the time value of money is material, the provision is based on the present value of those amounts, discounted at the pre-tax discount rate that reflects the risks specific to the liability. The unwinding of the discount is recognised within interest payable and similar charges.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 22 (2022: 21)
22 21
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4. Intangible Assets
Other
£
Cost or Valuation
As at 1 January 2023 -
Additions 1,090
As at 31 December 2023 1,090
Net Book Value
As at 31 December 2023 1,090
As at 1 January 2023 -
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5. Tangible Assets
Land & Buildings Plant & Machinery etc. Total
£ £ £
Cost
As at 1 January 2023 156,112 707,124 863,236
Additions - 346,750 346,750
Disposals - (45,073 ) (45,073 )
As at 31 December 2023 156,112 1,008,801 1,164,913
Depreciation
As at 1 January 2023 88,990 380,264 469,254
Provided during the period 10,332 68,152 78,484
Disposals - (6,442 ) (6,442 )
As at 31 December 2023 99,322 441,974 541,296
Net Book Value
As at 31 December 2023 56,790 566,827 623,617
As at 1 January 2023 67,122 326,860 393,982
6. Stocks
2023 2022
£ £
Stock 148,309 127,966
7. Debtors
2023 2022
£ £
Due within one year
Trade debtors 197,305 260,291
Other debtors 72,103 355,251
269,408 615,542
8. Creditors: Amounts Falling Due Within One Year
2023 2022
£ £
Trade creditors 216,350 186,073
Other loans 3,223 3,223
Other creditors 56,710 70,085
Taxation and social security 145,795 187,447
422,078 446,828
A floating charge over the assets of the company has been granted in respect of the bank overdraft of £nil (2022 - £nil).
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9. Creditors: Amounts Falling Due After More Than One Year
2023 2022
£ £
Other loans 12,533 21,757
12,533 21,757
10. Capital Grants
2023 2022
£ £
Balance at 1 January 2023 30,419 10,000
Increase / (Decrease) in the year (6,710) 20,419
Balance at 31 December 2023 23,709 30,419
11. Provisions for Liabilities
Deferred Tax Total
£ £
As at 1 January 2023 82,411 82,411
Origination and reversal of timing differences 31,726 31,726
Balance at 31 December 2023 114,137 114,137
12. Share Capital
2023 2022
Allotted, called up and fully paid £ £
41 Ordinary A shares of £ 1.000 each 41 41
39 Ordinary B shares of £ 1.000 each 39 39
20 Ordinary C shares of £ 1.000 each 20 20
100 100
13. Other Commitments
The total of future minimum lease payments under non-cancellable operating leases are as following:
2023 2022
£ £
Not later than one year 10,000 10,000
10,000 10,000
14. Directors Advances, Credits and Guarantees
Included within creditors £563 is due to the directors from the company (2022 - £13,167 due from the directors to the company). During the year the company paid advances of £28,270 (2022 - £78,820) to the directors, and the directors made repayments of £42,000 (2022 - £65,200) to the company. 
15. Controlling Party
The company is controlled by Mr G Kinghorn and Mrs J Kinghorn, who own the majority of the called up share capital.
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