Acorah Software Products - Accounts Production 15.0.600 false true 31 January 2023 1 February 2022 false 1 February 2023 31 January 2024 31 January 2024 SC291261 Mr Ian Bankier Mrs H J M Anderson-Bankier Miss I A Bankier iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure SC291261 2023-01-31 SC291261 2024-01-31 SC291261 2023-02-01 2024-01-31 SC291261 frs-core:CurrentFinancialInstruments 2024-01-31 SC291261 frs-core:LandBuildings frs-core:OwnedOrFreeholdAssets 2024-01-31 SC291261 frs-core:LandBuildings frs-core:OwnedOrFreeholdAssets 2023-02-01 2024-01-31 SC291261 frs-core:LandBuildings frs-core:OwnedOrFreeholdAssets 2023-01-31 SC291261 frs-core:SharePremium 2024-01-31 SC291261 frs-core:ShareCapital 2024-01-31 SC291261 frs-core:RetainedEarningsAccumulatedLosses 2024-01-31 SC291261 frs-bus:PrivateLimitedCompanyLtd 2023-02-01 2024-01-31 SC291261 frs-bus:FilletedAccounts 2023-02-01 2024-01-31 SC291261 frs-bus:SmallEntities 2023-02-01 2024-01-31 SC291261 frs-bus:AuditExempt-NoAccountantsReport 2023-02-01 2024-01-31 SC291261 frs-bus:SmallCompaniesRegimeForAccounts 2023-02-01 2024-01-31 SC291261 frs-core:CostValuation 2023-01-31 SC291261 frs-core:AdditionsToInvestments 2024-01-31 SC291261 frs-core:CostValuation 2024-01-31 SC291261 frs-core:ProvisionsForImpairmentInvestments 2023-01-31 SC291261 frs-core:ProvisionsForImpairmentInvestments 2024-01-31 SC291261 frs-core:UnlistedNon-exchangeTraded 2024-01-31 SC291261 frs-core:UnlistedNon-exchangeTraded 2023-01-31 SC291261 frs-core:CostValuation frs-core:UnlistedNon-exchangeTraded 2023-01-31 SC291261 frs-core:AdditionsToInvestments frs-core:UnlistedNon-exchangeTraded 2024-01-31 SC291261 frs-core:CostValuation frs-core:UnlistedNon-exchangeTraded 2024-01-31 SC291261 frs-core:ProvisionsForImpairmentInvestments frs-core:UnlistedNon-exchangeTraded 2023-01-31 SC291261 frs-core:ProvisionsForImpairmentInvestments frs-core:UnlistedNon-exchangeTraded 2024-01-31 SC291261 frs-bus:Director1 2023-02-01 2024-01-31 SC291261 frs-bus:Director2 2023-02-01 2024-01-31 SC291261 frs-bus:Director3 2023-02-01 2024-01-31 SC291261 frs-countries:Scotland 2023-02-01 2024-01-31 SC291261 2022-01-31 SC291261 2023-01-31 SC291261 2022-02-01 2023-01-31 SC291261 frs-core:CurrentFinancialInstruments 2023-01-31 SC291261 frs-core:Non-currentFinancialInstruments 2023-01-31 SC291261 frs-core:SharePremium 2023-01-31 SC291261 frs-core:ShareCapital 2023-01-31 SC291261 frs-core:RetainedEarningsAccumulatedLosses 2023-01-31
Registered number: SC291261
Moorburn Industries Limited
Financial Statements
For The Year Ended 31 January 2024
McMillan Financial
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—6
Page 1
Balance Sheet
Registered number: SC291261
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 31,700 31,700
Investment Properties 5 671,858 671,858
Investments 6 4,088,706 3,937,206
4,792,264 4,640,764
CURRENT ASSETS
Stocks 7 186,718 221,296
Debtors 8 2,421,175 2,107,766
Cash at bank and in hand 3,442,181 3,048,659
6,050,074 5,377,721
Creditors: Amounts Falling Due Within One Year 9 (487,821 ) (441,876 )
NET CURRENT ASSETS (LIABILITIES) 5,562,253 4,935,845
TOTAL ASSETS LESS CURRENT LIABILITIES 10,354,517 9,576,609
NET ASSETS 10,354,517 9,576,609
CAPITAL AND RESERVES
Called up share capital 10 1,416 1,416
Share premium account 1,502,635 1,502,635
Profit and Loss Account 8,850,466 8,072,558
SHAREHOLDERS' FUNDS 10,354,517 9,576,609
Page 1
Page 2
For the year ending 31 January 2024 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
Miss I A Bankier
Director
16/09/2024
The notes on pages 3 to 6 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Moorburn Industries Limited is a private company, limited by shares, incorporated in Scotland, registered number SC291261 . The registered office is Moorburn, The Lake, Kirkcudbright, Dumfries & Galloway, DG6 4XL.
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:
Freehold 2% sraight line
2.4. Investment Properties
All investment properties are carried at fair value determined annually and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided for. Changes in fair value are recognised in the profit and loss account.
2.5. 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.
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.
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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 year 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 asset reflects 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: 3 (2023: 3)
3 3
4. Tangible Assets
Land & Property
Freehold
£
Cost
As at 1 February 2023 31,700
As at 31 January 2024 31,700
Net Book Value
As at 31 January 2024 31,700
As at 1 February 2023 31,700
5. Investment Property
2024
£
Fair Value
As at 1 February 2023 and 31 January 2024 671,858
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6. Investments
Unlisted Other Total
£ £ £
Cost
As at 1 February 2023 2,595,623 1,341,583 3,937,206
Additions - 151,500 151,500
As at 31 January 2024 2,595,623 1,493,083 4,088,706
Provision
As at 1 February 2023 - - -
As at 31 January 2024 - - -
Net Book Value
As at 31 January 2024 2,595,623 1,493,083 4,088,706
As at 1 February 2023 2,595,623 1,341,583 3,937,206
7. Stocks
2024 2023
£ £
Stock 186,718 221,296
8. Debtors
2024 2023
£ £
Due within one year
Trade debtors 127,735 37,972
Other debtors 169,922 169,922
Directors' loan accounts - 7,487
Amounts owed by associates 2,123,518 1,492,385
2,421,175 1,707,766
Due after more than one year
Amounts owed by associates - 400,000
2,421,175 2,107,766
9. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Corporation tax 47,000 -
VAT 8,000 -
Accruals and deferred income 29,772 29,197
Directors' loan accounts 14,794 24,424
Amounts owed to other participating interests 388,255 388,255
487,821 441,876
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10. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 1,416 1,416
Page 6