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COMPANY REGISTRATION NUMBER: SC192293
Achkeepster Limited
Filleted Unaudited Financial Statements
For the year ended
31 December 2023
Achkeepster Limited
Statement of Financial Position
31 December 2023
2023
2022
Note
£
£
£
Fixed assets
Tangible assets
6
415,395
423,910
Current assets
Debtors
7
397,994
338,632
Cash at bank and in hand
143,285
189,155
---------
---------
541,279
527,787
Creditors: amounts falling due within one year
8
( 174,863)
( 116,187)
---------
---------
Net current assets
366,416
411,600
---------
---------
Total assets less current liabilities
781,811
835,510
Creditors: amounts falling due after more than one year
9
( 1,500)
( 1,800)
Provisions
Taxation including deferred tax
( 5,502)
( 7,601)
---------
---------
Net assets
774,809
826,109
---------
---------
Capital and reserves
Called up share capital
10
1,000
1,000
Profit and loss account
773,809
825,109
---------
---------
Shareholders funds
774,809
826,109
---------
---------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
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.
Directors' responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
Achkeepster Limited
Statement of Financial Position (continued)
31 December 2023
These financial statements were approved by the board of directors and authorised for issue on 23 September 2024 , and are signed on behalf of the board by:
Innes Miller
Director
Company registration number: SC192293
Achkeepster Limited
Notes to the Financial Statements
Year ended 31 December 2023
1. General information
The company is a private company limited by shares, registered in Scotland. The address of the registered office is 67 Dublin Street, Edinburgh, EH3 6NS.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis. The financial statements are prepared in sterling, which is the functional currency of the entity. Going concern The financial statements have been prepared on a going concern basis. The director has assessed the Company's ability to continue as a going concern and has a reasonable expectation that the Company has adequate resources to continue in operational existence for the foreseeable future. Thus he continues to adopt the going concern basis of accounting in preparing these financial statements .
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for goods supplied and services rendered, stated net of discounts and of Value Added Tax.
Income tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Property improvements
-
10% straight line
Motor Vehicles
-
25% reducing balance
Computer equipment
-
33% straight line
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets.
Provisions
Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised as a finance cost in profit or loss in the period it arises.
Financial instruments
A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 2 (2022: 2 ).
5. Tax on profit
Major components of tax expense
2023
2022
£
£
Current tax:
UK current tax expense
69,883
36,729
Adjustments in respect of prior periods
1,487
--------
--------
Total current tax
71,370
36,729
--------
--------
Deferred tax:
Origination and reversal of timing differences
( 2,099)
( 2,693)
--------
--------
Tax on profit
69,271
34,036
--------
--------
6. Tangible assets
Land and buildings
Property improvements
Motor vehicles
Equipment
Total
£
£
£
£
£
Cost
At 1 January 2023 and 31 December 2023
388,647
23,723
66,197
4,190
482,757
---------
--------
--------
-------
---------
Depreciation
At 1 January 2023
20,271
34,392
4,184
58,847
Charge for the year
558
7,951
6
8,515
---------
--------
--------
-------
---------
At 31 December 2023
20,829
42,343
4,190
67,362
---------
--------
--------
-------
---------
Carrying amount
At 31 December 2023
388,647
2,894
23,854
415,395
---------
--------
--------
-------
---------
At 31 December 2022
388,647
3,452
31,805
6
423,910
---------
--------
--------
-------
---------
7. Debtors
2023
2022
£
£
Other debtors
397,994
338,632
---------
---------
8. Creditors: amounts falling due within one year
2023
2022
£
£
Corporation tax
69,883
36,729
Social security and other taxes
10,872
17,743
Other creditors
94,108
61,715
---------
---------
174,863
116,187
---------
---------
9. Creditors: amounts falling due after more than one year
2023
2022
£
£
Other creditors
1,500
1,800
-------
-------
10. Called up share capital
Issued, called up and fully paid
2023
2022
No.
£
No.
£
A Ordinary Shares shares of £ 0.50 (2022 - £ 1) each
1,000
500
1,000
1,000
B Ordinary Shares shares of £ 0.50 each
1,000
500
-------
-------
-------
-------
2,000
1,000
1,000
1,000
-------
-------
-------
-------
11. Directors' advances, credits and guarantees
During the year the directors entered into the following advances and credits with the company:
2023
Balance brought forward
Advances/ (credits) to the directors
Balance outstanding
£
£
£
Innes Miller
( 8,720)
( 3,995)
( 12,715)
Alexandra I Hutchison
80,554
819
81,373
Caroline S Porfiris
44,135
44,135
Laura C Miller
44,135
44,135
Peter M Miller
44,135
44,135
---------
-------
---------
204,239
( 3,176)
201,063
---------
-------
---------
2022
Balance brought forward
Advances/ (credits) to the directors
Balance outstanding
£
£
£
Innes Miller
( 2,221)
( 6,499)
( 8,720)
Alexandra I Hutchison
79,826
728
80,554
Caroline S Porfiris
44,135
44,135
Laura C Miller
44,135
44,135
Peter M Miller
44,135
44,135
---------
-------
---------
210,010
( 5,771)
204,239
---------
-------
---------
The directors' advances are interest free, apart from the loan to Innes Miller and £30,000 of the loan to Alexandra I Hutchison where interest was charged at 2.5% from 6 April 2018 per annum, at 2.25% from 6 April 2021, at 2% from 6 April 2022 and at 2.25% from 6 April 2023. The loans are repayable on demand, and are included within other debtors.