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 SC454141 Mrs Camile Higginson Mrs Janet McDonald Mr William McDonald iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure SC454141 2023-03-31 SC454141 2024-03-31 SC454141 2023-04-01 2024-03-31 SC454141 frs-core:CurrentFinancialInstruments 2024-03-31 SC454141 frs-core:ComputerEquipment 2024-03-31 SC454141 frs-core:ComputerEquipment 2023-04-01 2024-03-31 SC454141 frs-core:ComputerEquipment 2023-03-31 SC454141 frs-core:FurnitureFittings 2024-03-31 SC454141 frs-core:FurnitureFittings 2023-04-01 2024-03-31 SC454141 frs-core:FurnitureFittings 2023-03-31 SC454141 frs-core:LandBuildings frs-core:LeasedAssetsHeldAsLessee 2024-03-31 SC454141 frs-core:LandBuildings frs-core:LeasedAssetsHeldAsLessee 2023-04-01 2024-03-31 SC454141 frs-core:LandBuildings frs-core:LeasedAssetsHeldAsLessee 2023-03-31 SC454141 frs-core:LandBuildings frs-core:OwnedOrFreeholdAssets 2024-03-31 SC454141 frs-core:LandBuildings frs-core:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 SC454141 frs-core:LandBuildings frs-core:OwnedOrFreeholdAssets 2023-03-31 SC454141 frs-core:MotorVehicles 2024-03-31 SC454141 frs-core:MotorVehicles 2023-04-01 2024-03-31 SC454141 frs-core:MotorVehicles 2023-03-31 SC454141 frs-core:PlantMachinery 2024-03-31 SC454141 frs-core:PlantMachinery 2023-04-01 2024-03-31 SC454141 frs-core:PlantMachinery 2023-03-31 SC454141 frs-core:ShareCapital 2024-03-31 SC454141 frs-core:RetainedEarningsAccumulatedLosses 2024-03-31 SC454141 frs-bus:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 SC454141 frs-bus:FilletedAccounts 2023-04-01 2024-03-31 SC454141 frs-bus:SmallEntities 2023-04-01 2024-03-31 SC454141 frs-bus:AuditExempt-NoAccountantsReport 2023-04-01 2024-03-31 SC454141 frs-bus:SmallCompaniesRegimeForAccounts 2023-04-01 2024-03-31 SC454141 frs-bus:Director1 2023-04-01 2024-03-31 SC454141 frs-bus:Director2 2023-04-01 2024-03-31 SC454141 frs-bus:Director3 2023-04-01 2024-03-31 SC454141 frs-core:CurrentFinancialInstruments 1 2024-03-31 SC454141 frs-countries:Scotland 2023-04-01 2024-03-31 SC454141 2022-03-31 SC454141 2023-03-31 SC454141 2022-04-01 2023-03-31 SC454141 frs-core:CurrentFinancialInstruments 2023-03-31 SC454141 frs-core:ShareCapital 2023-03-31 SC454141 frs-core:RetainedEarningsAccumulatedLosses 2023-03-31 SC454141 frs-core:CurrentFinancialInstruments 1 2023-03-31
Registered number: SC454141
The Corstorphine Nursery Ltd
Unaudited Financial Statements
For The Year Ended 31 March 2024
TaxAssist Accountants
Unaudited Financial Statements
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: SC454141
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 989,984 951,386
989,984 951,386
CURRENT ASSETS
Debtors 5 23,639 (81,532 )
Cash at bank and in hand 328,124 208,636
351,763 127,104
Creditors: Amounts Falling Due Within One Year 6 (111,218 ) (77,145 )
NET CURRENT ASSETS (LIABILITIES) 240,545 49,959
TOTAL ASSETS LESS CURRENT LIABILITIES 1,230,529 1,001,345
NET ASSETS 1,230,529 1,001,345
CAPITAL AND RESERVES
Called up share capital 7 100 100
Profit and Loss Account 1,230,429 1,001,245
SHAREHOLDERS' FUNDS 1,230,529 1,001,345
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Page 2
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 William McDonald
Director
12/09/2024
The notes on pages 3 to 5 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
The Corstorphine Nursery Ltd is a private company, limited by shares, incorporated in Scotland, registered number SC454141 . The registered office is 24 Featherhall Avenue, Edinburgh, EH12 7UN.
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 5% RBM
Leasehold 5% RBM
Plant & Machinery 7% RBM
Motor Vehicles 20% RBM
Fixtures & Fittings 20% RBM
Computer Equipment 20% RBM
2.4. 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 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.
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3. Average Number of Employees
Average number of employees, including directors, during the year was: 36 (2023: )
36 -
4. Tangible Assets
Land & Property
Freehold Leasehold Plant & Machinery Motor Vehicles
£ £ £ £
Cost
As at 1 April 2023 874,739 64,687 24,248 -
Additions - - 6,002 47,588
As at 31 March 2024 874,739 64,687 30,250 47,588
Depreciation
As at 1 April 2023 - 6,861 13,529 -
Provided during the period - 2,891 1,170 9,518
As at 31 March 2024 - 9,752 14,699 9,518
Net Book Value
As at 31 March 2024 874,739 54,935 15,551 38,070
As at 1 April 2023 874,739 57,826 10,719 -
Fixtures & Fittings Computer Equipment Total
£ £ £
Cost
As at 1 April 2023 2,590 8,528 974,792
Additions 259 - 53,849
As at 31 March 2024 2,849 8,528 1,028,641
Depreciation
As at 1 April 2023 1,035 1,981 23,406
Provided during the period 311 1,361 15,251
As at 31 March 2024 1,346 3,342 38,657
Net Book Value
As at 31 March 2024 1,503 5,186 989,984
As at 1 April 2023 1,555 6,547 951,386
5. Debtors
2024 2023
£ £
Due within one year
Trade debtors 23,639 (110,561 )
Other debtors - 28,707
Other debtors (1) - 322
23,639 (81,532 )
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6. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors - 287
Corporation tax 90,754 75,810
Other taxes and social security 9,277 -
Credit Card 2,433 -
Pension 443 -
Accruals and deferred income - 1,048
Directors' loan accounts 8,311 -
111,218 77,145
7. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 100 100
Page 5