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 SC241075 Mr Alistair Rae Mr Colin Rae iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure SC241075 2022-12-31 SC241075 2023-12-31 SC241075 2023-01-01 2023-12-31 SC241075 frs-core:CurrentFinancialInstruments 2023-12-31 SC241075 frs-core:Non-currentFinancialInstruments 2023-12-31 SC241075 frs-core:BetweenOneFiveYears 2023-12-31 SC241075 frs-core:ComputerEquipment 2023-12-31 SC241075 frs-core:ComputerEquipment 2023-01-01 2023-12-31 SC241075 frs-core:ComputerEquipment 2022-12-31 SC241075 frs-core:MotorVehicles 2023-12-31 SC241075 frs-core:MotorVehicles 2023-01-01 2023-12-31 SC241075 frs-core:MotorVehicles 2022-12-31 SC241075 frs-core:PlantMachinery 2023-12-31 SC241075 frs-core:PlantMachinery 2023-01-01 2023-12-31 SC241075 frs-core:PlantMachinery 2022-12-31 SC241075 frs-core:WithinOneYear 2023-12-31 SC241075 frs-core:ShareCapital 2023-12-31 SC241075 frs-core:RetainedEarningsAccumulatedLosses 2023-12-31 SC241075 frs-bus:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 SC241075 frs-bus:FilletedAccounts 2023-01-01 2023-12-31 SC241075 frs-bus:SmallEntities 2023-01-01 2023-12-31 SC241075 frs-bus:AuditExempt-NoAccountantsReport 2023-01-01 2023-12-31 SC241075 frs-bus:SmallCompaniesRegimeForAccounts 2023-01-01 2023-12-31 SC241075 frs-bus:Director1 2023-01-01 2023-12-31 SC241075 frs-bus:Director2 2023-01-01 2023-12-31 SC241075 frs-countries:Scotland 2023-01-01 2023-12-31 SC241075 2021-12-31 SC241075 2022-12-31 SC241075 2022-01-01 2022-12-31 SC241075 frs-core:CurrentFinancialInstruments 2022-12-31 SC241075 frs-core:Non-currentFinancialInstruments 2022-12-31 SC241075 frs-core:BetweenOneFiveYears 2022-12-31 SC241075 frs-core:PlantMachinery 2022-01-01 2022-12-31 SC241075 frs-core:WithinOneYear 2022-12-31 SC241075 frs-core:ShareCapital 2022-12-31 SC241075 frs-core:RetainedEarningsAccumulatedLosses 2022-12-31
Registered number: SC241075
R & A contracts Ltd.
Unaudited Financial Statements
For The Year Ended 31 December 2023
JAXX Accountancy Scotland Limited
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—6
Page 1
Balance Sheet
Registered number: SC241075
2023 2022
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 192,760 217,692
192,760 217,692
CURRENT ASSETS
Debtors 5 28,271 39,220
Cash at bank and in hand 13,174 130,623
41,445 169,843
Creditors: Amounts Falling Due Within One Year 6 (76,360 ) (87,426 )
NET CURRENT ASSETS (LIABILITIES) (34,915 ) 82,417
TOTAL ASSETS LESS CURRENT LIABILITIES 157,845 300,109
Creditors: Amounts Falling Due After More Than One Year 7 (99,471 ) (158,282 )
PROVISIONS FOR LIABILITIES
Deferred Taxation 9 (36,624 ) (41,361 )
NET ASSETS 21,750 100,466
CAPITAL AND RESERVES
Called up share capital 10 1,000 1,000
Profit and Loss Account 20,750 99,466
SHAREHOLDERS' FUNDS 21,750 100,466
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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
Mr Colin Rae
Director
16/09/2024
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
R & A contracts Ltd. is a private company, limited by shares, incorporated in Scotland, registered number SC241075 . The registered office is 111 Coatbridge Road , Glenmavis , Airdrie , ML6 0NJ.
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:
Plant & Machinery 15% Reducing Balance
Motor Vehicles 25% Reducing Balance
Computer Equipment 15% Reducing Balance
2.4. Leasing and Hire Purchase Contracts
Assets obtained under 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.
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2.5. Financial Instruments
The company only has basic financial instruments.
Short term debtors are measured at transaction price, less  impairment. Loans receivable are measured initially at
fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest
method, less any impairment.
Short term trade creditors are measured at the transaction price. Other financial liabilities, including bank loans, are
measured initally at fair value, net of transaction costs, and are measured subsequently at amortised cost using the
effective interest method
2.6. Foreign Currencies
Monetary 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 ruling on the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
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 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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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.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 5 (2022: 5)
5 5
4. Tangible Assets
Plant & Machinery Motor Vehicles Computer Equipment Total
£ £ £ £
Cost
As at 1 January 2023 273,270 30,557 1,178 305,005
Additions 29,600 - - 29,600
Disposals (38,809 ) - - (38,809 )
As at 31 December 2023 264,061 30,557 1,178 295,796
Depreciation
As at 1 January 2023 68,832 18,027 454 87,313
Provided during the period 32,427 4,135 108 36,670
Disposals (20,947 ) - - (20,947 )
As at 31 December 2023 80,312 22,162 562 103,036
Net Book Value
As at 31 December 2023 183,749 8,395 616 192,760
As at 1 January 2023 204,438 12,530 724 217,692
Included above are assets held under finance leases or hire purchase contracts with a net book value as follows:
2023 2022
£ £
Plant & Machinery 123,066 134,799
5. Debtors
2023 2022
£ £
Due within one year
Trade debtors - 10,800
Other debtors 28,271 28,420
28,271 39,220
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6. Creditors: Amounts Falling Due Within One Year
2023 2022
£ £
Net obligations under finance lease and hire purchase contracts 26,076 35,095
Trade creditors 2,175 2,513
Bank loans and overdrafts 10,648 10,000
Other creditors 21,466 18,585
Taxation and social security 15,995 21,233
76,360 87,426
7. Creditors: Amounts Falling Due After More Than One Year
2023 2022
£ £
Net obligations under finance lease and hire purchase contracts 62,191 93,486
Bank loans 13,254 23,788
Other creditors 24,026 41,008
99,471 158,282
8. Obligations Under Finance Leases and Hire Purchase
2023 2022
£ £
The future minimum finance lease payments are as follows:
Not later than one year 26,076 35,095
Later than one year and not later than five years 62,191 93,486
88,267 128,581
88,267 128,581
9. Deferred Taxation
The provision for deferred tax is made up as follows:
2023 2022
£ £
Other timing differences 36,624 41,361
10. Share Capital
2023 2022
£ £
Allotted, Called up and fully paid 1,000 1,000
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