Acorah Software Products - Accounts Production 15.0.600 false true 31 October 2022 1 November 2021 false 1 November 2022 31 October 2023 31 October 2023 SC517637 Mr William Pierrepont true iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure SC517637 2022-10-31 SC517637 2023-10-31 SC517637 2022-11-01 2023-10-31 SC517637 frs-core:CurrentFinancialInstruments 2023-10-31 SC517637 frs-core:Non-currentFinancialInstruments 2023-10-31 SC517637 frs-core:BetweenOneFiveYears 2023-10-31 SC517637 frs-core:ComputerEquipment 2023-10-31 SC517637 frs-core:ComputerEquipment 2022-11-01 2023-10-31 SC517637 frs-core:ComputerEquipment 2022-10-31 SC517637 frs-core:FurnitureFittings 2022-11-01 2023-10-31 SC517637 frs-core:NetGoodwill 2023-10-31 SC517637 frs-core:NetGoodwill 2022-11-01 2023-10-31 SC517637 frs-core:NetGoodwill 2022-10-31 SC517637 frs-core:LandBuildings frs-core:OwnedOrFreeholdAssets 2022-11-01 2023-10-31 SC517637 frs-core:MotorVehicles 2023-10-31 SC517637 frs-core:MotorVehicles 2022-11-01 2023-10-31 SC517637 frs-core:MotorVehicles 2022-10-31 SC517637 frs-core:PlantMachinery 2023-10-31 SC517637 frs-core:PlantMachinery 2022-11-01 2023-10-31 SC517637 frs-core:PlantMachinery 2022-10-31 SC517637 frs-core:WithinOneYear 2023-10-31 SC517637 frs-core:ShareCapital 2023-10-31 SC517637 frs-core:RetainedEarningsAccumulatedLosses 2023-10-31 SC517637 frs-bus:PrivateLimitedCompanyLtd 2022-11-01 2023-10-31 SC517637 frs-bus:FilletedAccounts 2022-11-01 2023-10-31 SC517637 frs-bus:SmallEntities 2022-11-01 2023-10-31 SC517637 frs-bus:AuditExempt-NoAccountantsReport 2022-11-01 2023-10-31 SC517637 frs-bus:SmallCompaniesRegimeForAccounts 2022-11-01 2023-10-31 SC517637 1 2022-11-01 2023-10-31 SC517637 frs-core:DeferredTaxation 2022-11-01 2023-10-31 SC517637 frs-core:DeferredTaxation 2022-10-31 SC517637 frs-core:DeferredTaxation 2023-10-31 SC517637 frs-bus:Director1 2022-11-01 2023-10-31 SC517637 frs-core:CurrentFinancialInstruments 1 2023-10-31 SC517637 frs-countries:Scotland 2022-11-01 2023-10-31 SC517637 2021-10-31 SC517637 2022-10-31 SC517637 2021-11-01 2022-10-31 SC517637 frs-core:CurrentFinancialInstruments 2022-10-31 SC517637 frs-core:Non-currentFinancialInstruments 2022-10-31 SC517637 frs-core:BetweenOneFiveYears 2022-10-31 SC517637 frs-core:PlantMachinery 2021-11-01 2022-10-31 SC517637 frs-core:WithinOneYear 2022-10-31 SC517637 frs-core:ShareCapital 2022-10-31 SC517637 frs-core:RetainedEarningsAccumulatedLosses 2022-10-31 SC517637 frs-core:CurrentFinancialInstruments 1 2022-10-31
Registered number: SC517637
Abacus Groundworks Edinburgh Ltd
Unaudited Financial Statements
For The Year Ended 31 October 2023
Calculus Accountants (Scotland) Ltd
10 Avonhead Road
Condorrat
Glasgow
G67 4RA
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—6
Page 1
Balance Sheet
Registered number: SC517637
2023 2022
Notes £ £ £ £
FIXED ASSETS
Intangible Assets 4 20,644 -
Tangible Assets 5 471,040 215,946
491,684 215,946
CURRENT ASSETS
Stocks 6 91,145 37,725
Debtors 7 169,179 157,858
Cash at bank and in hand 116,850 171,738
377,174 367,321
Creditors: Amounts Falling Due Within One Year 8 (142,463 ) (101,864 )
NET CURRENT ASSETS (LIABILITIES) 234,711 265,457
TOTAL ASSETS LESS CURRENT LIABILITIES 726,395 481,403
Creditors: Amounts Falling Due After More Than One Year 9 (272,751 ) (49,062 )
PROVISIONS FOR LIABILITIES
Deferred Taxation 11 (79,796 ) (41,030 )
NET ASSETS 373,848 391,311
CAPITAL AND RESERVES
Called up share capital 13 1 1
Profit and Loss Account 373,847 391,310
SHAREHOLDERS' FUNDS 373,848 391,311
Page 1
Page 2
For the year ending 31 October 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 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 William Pierrepont
Director
09/09/2024
The notes on pages 3 to 6 form part of these financial statements.
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Notes to the Financial Statements
1. General Information
Abacus Groundworks Edinburgh Ltd is a private company, limited by shares, incorporated in Scotland, registered number SC517637 . The registered office is 15 Lawers Square , Penicuik , Mid Lothian , EH26 8JS.
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 represents the the value of sales invoices issued, net of discounts and value added taxes.
2.3. 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 10 years.
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 0%
Plant & Machinery 25% - Reducing balance basis
Motor Vehicles 25% - Reducing balance basis
Fixtures & Fittings 15% - Reducing balance basis
Computer Equipment 15% - 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.
2.7. 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 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 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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3. Average Number of Employees
Average number of employees, including directors, during the year was: 5 (2022: 5)
5 5
4. Intangible Assets
Goodwill
£
Cost
As at 1 November 2022 -
Additions 21,730
As at 31 October 2023 21,730
Amortisation
As at 1 November 2022 -
Provided during the period 1,086
As at 31 October 2023 1,086
Net Book Value
As at 31 October 2023 20,644
As at 1 November 2022 -
5. Tangible Assets
Plant & Machinery Motor Vehicles Computer Equipment Total
£ £ £ £
Cost
As at 1 November 2022 398,719 - 1,182 399,901
Additions 486,615 18,375 - 504,990
Disposals (148,109 ) - - (148,109 )
As at 31 October 2023 737,225 18,375 1,182 756,782
Depreciation
As at 1 November 2022 183,308 - 647 183,955
Provided during the period 103,075 924 80 104,079
Disposals (2,292 ) - - (2,292 )
As at 31 October 2023 284,091 924 727 285,742
Net Book Value
As at 31 October 2023 453,134 17,451 455 471,040
As at 1 November 2022 215,411 - 535 215,946
Included above are assets held under finance leases or hire purchase contracts with a net book value as follows:
2023 2022
£ £
Plant & Machinery 204,791 45,235
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Page 5
6. Stocks
2023 2022
£ £
Materials 1,865 1,625
Work in progress 89,280 36,100
91,145 37,725
7. Debtors
2023 2022
£ £
Due within one year
Trade debtors 110,400 51,704
Prepayments and accrued income 150 3,472
Contract retentions 5,076 3,424
CIS tax deductions recoverable 40,870 69,027
VAT 12,435 30,231
CIS tax deductions from subcontractors 248 -
169,179 157,858
8. Creditors: Amounts Falling Due Within One Year
2023 2022
£ £
Net obligations under finance lease and hire purchase contracts 64,246 3,491
Trade creditors 3,051 5,079
Bank loans and overdrafts - 6,000
Other loans - Funding Circle 41,517 -
Corporation tax - 48,363
PAYE and NI 1,598 4,347
CIS tax deductions from subcontractors - 1,686
Accrued charges 4,192 2,086
Director's loan account 27,859 30,812
142,463 101,864
The directors loan account is interest free and has no fixed terms of repayment.
The CBIL bank loan was repaid in full in the year. 
A loan from Funding Circle was obtained in the year of £249,100, repayable over a 6 year period, and is the subject of a Directors Personal Guarantee. 
9. Creditors: Amounts Falling Due After More Than One Year
2023 2022
£ £
Net obligations under finance lease and hire purchase contracts 82,466 27,562
Bank loans - 21,500
Other loan - Funding Circle 190,285 -
272,751 49,062
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10. Obligations Under Finance Leases and Hire Purchase
2023 2022
£ £
The future minimum finance lease payments are as follows:
Not later than one year 64,246 3,491
Later than one year and not later than five years 82,466 27,562
146,712 31,053
146,712 31,053
11. Deferred Taxation
The provision for deferred taxation is made up of accelerated capital allowances.
2023 2022
£ £
Other timing differences 79,796 41,030
12. Provisions for Liabilities
Deferred Tax Total
£ £
As at 1 November 2022 41,030 41,030
Additions 38,766 38,766
Balance at 31 October 2023 79,796 79,796
13. Share Capital
2023 2022
£ £
Allotted, Called up and fully paid 1 1
14. Ultimate Controlling Party
The company's ultimate controlling party is the director by virtue of his ownership of 100% of the issued share capital in the company.
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