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REGISTERED NUMBER: 12251078 (England and Wales)















Accurascale Ltd

Unaudited Financial Statements

for the Year Ended 31 December 2023






Accurascale Ltd (Registered number: 12251078)

Contents of the Financial Statements
for the year ended 31 December 2023










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


Accurascale Ltd

Company Information
for the year ended 31 December 2023







Director: S Mccarron





Registered office: 71-75 Shelton Street
Covent Garden
London
WC2H 9JQ





Registered number: 12251078 (England and Wales)





Accountants: Cooper Parry Advisory Limited
New Derwent House
69-73 Theobalds Road
London
WC1X 8TA

Accurascale Ltd (Registered number: 12251078)

Balance Sheet
31 December 2023

2023 2022
Notes £ £ £ £
Fixed assets
Tangible assets 4 1,748,127 1,263,435

Current assets
Stocks 1,807,780 1,644,051
Debtors 5 1,276,443 2,298,656
Cash at bank 174,235 307,581
3,258,458 4,250,288
Creditors
Amounts falling due within one year 6 4,096,746 4,835,568
Net current liabilities (838,288 ) (585,280 )
Total assets less current liabilities 909,839 678,155

Provisions for liabilities 132,861 84,208
Net assets 776,978 593,947

Capital and reserves
Called up share capital 7 1 1
Retained earnings 8 776,977 593,946
Shareholders' funds 776,978 593,947

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2023 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 16 September 2024 and were signed by:





S Mccarron - Director


Accurascale Ltd (Registered number: 12251078)

Notes to the Financial Statements
for the year ended 31 December 2023


1. Statutory information

Accurascale Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. Accounting policies

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover represents amounts receivable for goods provided in the year and is stated net of VAT.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 20% on reducing balance
Computer equipment - 20% on reducing balance

Stocks
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 items.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. Employees and directors

The average number of employees during the year was 3 (2022 - 3 ) .

Accurascale Ltd (Registered number: 12251078)

Notes to the Financial Statements - continued
for the year ended 31 December 2023


4. Tangible fixed assets
Plant and Computer
machinery equipment Totals
£ £ £
Cost
At 1 January 2023 1,940,025 37,392 1,977,417
Additions 910,425 11,299 921,724
At 31 December 2023 2,850,450 48,691 2,899,141
Depreciation
At 1 January 2023 697,165 16,817 713,982
Charge for year 430,657 6,375 437,032
At 31 December 2023 1,127,822 23,192 1,151,014
Net book value
At 31 December 2023 1,722,628 25,499 1,748,127
At 31 December 2022 1,242,860 20,575 1,263,435

5. Debtors: amounts falling due within one year
2023 2022
£ £
Trade debtors 1,267,326 2,289,317
Other debtors 9,117 9,339
1,276,443 2,298,656

6. Creditors: amounts falling due within one year
2023 2022
£ £
Trade creditors 1,480,134 1,144,916
Amounts owed to group undertakings 684,321 908,656
Taxation and social security 525,524 517,046
Other creditors 1,406,767 2,264,950
4,096,746 4,835,568

7. Called up share capital

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £ £
1 Ordinary £1 1 1

8. Reserves
Retained
earnings
£

At 1 January 2023 593,946
Profit for the year 183,031
At 31 December 2023 776,977

Accurascale Ltd (Registered number: 12251078)

Notes to the Financial Statements - continued
for the year ended 31 December 2023


9. Related party disclosures

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

10. Ultimate controlling party

The controlling party is Irish Railway Models Ltd.