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 SC264130 Mr Gordon Greig Mrs Racheal Greig iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure SC264130 2022-12-31 SC264130 2023-12-31 SC264130 2023-01-01 2023-12-31 SC264130 frs-core:CurrentFinancialInstruments 2023-12-31 SC264130 frs-core:FurnitureFittings 2023-12-31 SC264130 frs-core:FurnitureFittings 2023-01-01 2023-12-31 SC264130 frs-core:FurnitureFittings 2022-12-31 SC264130 frs-core:NetGoodwill 2023-12-31 SC264130 frs-core:NetGoodwill 2023-01-01 2023-12-31 SC264130 frs-core:NetGoodwill 2022-12-31 SC264130 frs-core:MotorVehicles 2023-12-31 SC264130 frs-core:MotorVehicles 2023-01-01 2023-12-31 SC264130 frs-core:MotorVehicles 2022-12-31 SC264130 frs-core:PlantMachinery 2023-12-31 SC264130 frs-core:PlantMachinery 2023-01-01 2023-12-31 SC264130 frs-core:PlantMachinery 2022-12-31 SC264130 frs-core:ShareCapital 2023-12-31 SC264130 frs-core:RetainedEarningsAccumulatedLosses 2023-12-31 SC264130 frs-bus:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 SC264130 frs-bus:FilletedAccounts 2023-01-01 2023-12-31 SC264130 frs-bus:SmallEntities 2023-01-01 2023-12-31 SC264130 frs-bus:AuditExempt-NoAccountantsReport 2023-01-01 2023-12-31 SC264130 frs-bus:SmallCompaniesRegimeForAccounts 2023-01-01 2023-12-31 SC264130 frs-bus:Director1 2023-01-01 2023-12-31 SC264130 frs-bus:Director1 2022-12-31 SC264130 frs-bus:Director1 2023-12-31 SC264130 frs-bus:CompanySecretary1 2023-01-01 2023-12-31 SC264130 frs-core:CurrentFinancialInstruments 1 2023-12-31 SC264130 frs-countries:Scotland 2023-01-01 2023-12-31 SC264130 2021-12-31 SC264130 2022-12-31 SC264130 2022-01-01 2022-12-31 SC264130 frs-core:CurrentFinancialInstruments 2022-12-31 SC264130 frs-core:ShareCapital 2022-12-31 SC264130 frs-core:RetainedEarningsAccumulatedLosses 2022-12-31 SC264130 frs-core:CurrentFinancialInstruments 1 2022-12-31
Registered number: SC264130
The Kitchen Bedroom Bathroom Company Limited
Unaudited Financial Statements
For The Year Ended 31 December 2023
Gallone & Co
1a Torphichen Street
Edinburgh
EH3 8HX
Unaudited Financial Statements
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: SC264130
2023 2022
Notes £ £ £ £
FIXED ASSETS
Intangible Assets 3 400,000 400,000
Tangible Assets 4 85,102 79,095
485,102 479,095
CURRENT ASSETS
Stocks 5 9,750 11,900
Debtors 6 141,387 18,103
Cash at bank and in hand 22,540 254,252
173,677 284,255
Creditors: Amounts Falling Due Within One Year 7 (52,304 ) (75,402 )
NET CURRENT ASSETS (LIABILITIES) 121,373 208,853
TOTAL ASSETS LESS CURRENT LIABILITIES 606,475 687,948
NET ASSETS 606,475 687,948
CAPITAL AND RESERVES
Called up share capital 8 100 100
Profit and Loss Account 606,375 687,848
SHAREHOLDERS' FUNDS 606,475 687,948
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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 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 Gordon Greig
Director
17/09/2024
The notes on pages 3 to 5 form part of these financial statements.
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Notes to the Financial Statements
1. Accounting Policies
1.1. 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.
1.2. 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.
1.3. 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 .... years.
1.4. 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:
Plant & Machinery 15% RBM
Motor Vehicles 25% RBM
Fixtures & Fittings 15% RBM
1.5. 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.
1.6. 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. Average Number of Employees
Average number of employees, including directors, during the year was as follows: 13 (2022: 12)
13 12
3. Intangible Assets
Goodwill
£
Cost
As at 1 January 2023 400,000
As at 31 December 2023 400,000
Net Book Value
As at 31 December 2023 400,000
As at 1 January 2023 400,000
4. Tangible Assets
Plant & Machinery Motor Vehicles Fixtures & Fittings Total
£ £ £ £
Cost
As at 1 January 2023 43,032 196,834 82,925 322,791
Additions 3,861 - 21,555 25,416
As at 31 December 2023 46,893 196,834 104,480 348,207
Depreciation
As at 1 January 2023 20,680 159,515 63,501 243,696
Provided during the period 3,932 9,330 6,147 19,409
As at 31 December 2023 24,612 168,845 69,648 263,105
Net Book Value
As at 31 December 2023 22,281 27,989 34,832 85,102
As at 1 January 2023 22,352 37,319 19,424 79,095
5. Stocks
2023 2022
£ £
Finished goods 9,750 11,900
6. Debtors
2023 2022
£ £
Due within one year
Trade debtors 51,566 17,622
Prepayments and accrued income 505 481
Corporation tax recoverable assets 6,464 -
Director's loan account 82,852 -
141,387 18,103
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7. Creditors: Amounts Falling Due Within One Year
2023 2022
£ £
Trade creditors 5,100 20,049
Corporation tax - 6,464
Other taxes and social security 12,558 14,987
VAT 29,060 28,767
Pension creditor 1,617 -
Accruals and deferred income 3,969 4,365
Director's loan account - 770
52,304 75,402
8. Share Capital
2023 2022
£ £
Allotted, Called up and fully paid 100 100
9. Directors Advances, Credits and Guarantees
Included within Debtors are the following loans to directors:
As at 1 January 2023 Amounts advanced Amounts repaid Amounts written off As at 31 December 2023
£ £ £ £ £
Mr Gordon Greig (770 ) 363,622 280,000 - 82,852
The above loan is unsecured, interest free and has been repaid.
10. General Information
The Kitchen Bedroom Bathroom Company Limited is a private company, limited by shares, incorporated in Scotland, registered number SC264130 . The registered office is 1a Torphichen Street, Edinburgh, EH3 8HX.
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