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 SC439171 Mr Zahid Aziz Mrs Julie Y Aziz iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure SC439171 2022-12-31 SC439171 2023-12-31 SC439171 2023-01-01 2023-12-31 SC439171 frs-core:CurrentFinancialInstruments 2023-12-31 SC439171 frs-core:FurnitureFittings 2023-12-31 SC439171 frs-core:FurnitureFittings 2023-01-01 2023-12-31 SC439171 frs-core:FurnitureFittings 2022-12-31 SC439171 frs-core:NetGoodwill 2023-12-31 SC439171 frs-core:NetGoodwill 2023-01-01 2023-12-31 SC439171 frs-core:NetGoodwill 2022-12-31 SC439171 frs-core:MotorVehicles 2023-12-31 SC439171 frs-core:MotorVehicles 2023-01-01 2023-12-31 SC439171 frs-core:MotorVehicles 2022-12-31 SC439171 frs-core:PlantMachinery 2023-12-31 SC439171 frs-core:PlantMachinery 2023-01-01 2023-12-31 SC439171 frs-core:PlantMachinery 2022-12-31 SC439171 frs-core:WithinOneYear 2023-12-31 SC439171 frs-core:ShareCapital 2023-12-31 SC439171 frs-core:RetainedEarningsAccumulatedLosses 2023-12-31 SC439171 frs-bus:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 SC439171 frs-bus:FilletedAccounts 2023-01-01 2023-12-31 SC439171 frs-bus:SmallEntities 2023-01-01 2023-12-31 SC439171 frs-bus:AuditExempt-NoAccountantsReport 2023-01-01 2023-12-31 SC439171 frs-bus:SmallCompaniesRegimeForAccounts 2023-01-01 2023-12-31 SC439171 frs-bus:Director1 2023-01-01 2023-12-31 SC439171 frs-bus:CompanySecretary1 2023-01-01 2023-12-31 SC439171 frs-countries:Scotland 2023-01-01 2023-12-31 SC439171 2021-12-31 SC439171 2022-12-31 SC439171 2022-01-01 2022-12-31 SC439171 frs-core:CurrentFinancialInstruments 2022-12-31 SC439171 frs-core:WithinOneYear 2022-12-31 SC439171 frs-core:ShareCapital 2022-12-31 SC439171 frs-core:RetainedEarningsAccumulatedLosses 2022-12-31
Registered number: SC439171
Raeburn Stores Limited
Unaudited Financial Statements
For The Year Ended 31 December 2023
Michael Revels & Co
Ladhope Vale House
Ladhope Vale
Galashiels
Selkirkshire
TD1 1BT
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: SC439171
2023 2022
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 5 23,332 10,595
23,332 10,595
CURRENT ASSETS
Stocks 6 110,000 110,000
Cash at bank and in hand 33,067 20,877
143,067 130,877
Creditors: Amounts Falling Due Within One Year 7 (114,111 ) (115,459 )
NET CURRENT ASSETS (LIABILITIES) 28,956 15,418
TOTAL ASSETS LESS CURRENT LIABILITIES 52,288 26,013
NET ASSETS 52,288 26,013
CAPITAL AND RESERVES
Called up share capital 9 1,000 1,000
Profit and Loss Account 51,288 25,013
SHAREHOLDERS' FUNDS 52,288 26,013
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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 Zahid Aziz
Director
26/09/2024
The notes on pages 3 to 5 form part of these financial statements.
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Page 3
Notes to the Financial Statements
1. General Information
Raeburn Stores Limited is a private company, limited by shares, incorporated in Scotland, registered number SC439171 . The registered office is Canonfield, Bridge Street, Selkirk, TD7 5BU.
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. 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 10 years.
2.4. 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 20% reducing balance
Motor Vehicles 25% reducing balance
Fixtures & Fittings 20% reducing balance
2.5. 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.
2.6. 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.
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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.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 14 (2022: 13)
14 13
4. Intangible Assets
Goodwill
£
Cost
As at 1 January 2023 20,000
As at 31 December 2023 20,000
Amortisation
As at 1 January 2023 20,000
As at 31 December 2023 20,000
Net Book Value
As at 31 December 2023 -
As at 1 January 2023 -
5. Tangible Assets
Plant & Machinery Motor Vehicles Fixtures & Fittings Total
£ £ £ £
Cost
As at 1 January 2023 36,145 24,991 6,171 67,307
Additions 840 19,500 - 20,340
Disposals - (24,991 ) - (24,991 )
As at 31 December 2023 36,985 19,500 6,171 62,656
...CONTINUED
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Depreciation
As at 1 January 2023 29,838 22,802 4,072 56,712
Provided during the period 1,275 3,719 420 5,414
Disposals - (22,802 ) - (22,802 )
As at 31 December 2023 31,113 3,719 4,492 39,324
Net Book Value
As at 31 December 2023 5,872 15,781 1,679 23,332
As at 1 January 2023 6,307 2,189 2,099 10,595
6. Stocks
2023 2022
£ £
Stock 110,000 110,000
7. Creditors: Amounts Falling Due Within One Year
2023 2022
£ £
Net obligations under finance lease and hire purchase contracts 5,469 -
Trade creditors 33,281 30,096
Bank loans and overdrafts - 5,151
Corporation tax 9,790 7,602
Other taxes and social security 3,513 11,201
VAT 3,554 2,905
Accruals and deferred income 1,456 1,456
Director's loan account 57,048 57,048
114,111 115,459
8. Obligations Under Finance Leases and Hire Purchase
2023 2022
£ £
The future minimum finance lease payments are as follows:
Not later than one year 5,469 -
9. Share Capital
2023 2022
£ £
Allotted, Called up and fully paid 1,000 1,000
10. Dividends
2023 2022
£ £
On equity shares:
Final dividend paid 7,702 20,473
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