Acorah Software Products - Accounts Production 15.0.600 false true 28 February 2023 1 March 2022 false 1 March 2023 28 February 2024 28 February 2024 SC226741 Mr Steven Mair Brown & Mcrae LLP iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure SC226741 2023-02-28 SC226741 2024-02-28 SC226741 2023-03-01 2024-02-28 SC226741 frs-core:CurrentFinancialInstruments 2024-02-28 SC226741 frs-core:Non-currentFinancialInstruments 2024-02-28 SC226741 frs-core:ComputerEquipment 2024-02-28 SC226741 frs-core:ComputerEquipment 2023-03-01 2024-02-28 SC226741 frs-core:ComputerEquipment 2023-02-28 SC226741 frs-core:FurnitureFittings 2024-02-28 SC226741 frs-core:FurnitureFittings 2023-03-01 2024-02-28 SC226741 frs-core:FurnitureFittings 2023-02-28 SC226741 frs-core:LandBuildings frs-core:OwnedOrFreeholdAssets 2024-02-28 SC226741 frs-core:LandBuildings frs-core:OwnedOrFreeholdAssets 2023-03-01 2024-02-28 SC226741 frs-core:LandBuildings frs-core:OwnedOrFreeholdAssets 2023-02-28 SC226741 frs-core:MotorVehicles 2024-02-28 SC226741 frs-core:MotorVehicles 2023-03-01 2024-02-28 SC226741 frs-core:MotorVehicles 2023-02-28 SC226741 frs-core:ShareCapital 2024-02-28 SC226741 frs-core:RetainedEarningsAccumulatedLosses 2024-02-28 SC226741 frs-bus:PrivateLimitedCompanyLtd 2023-03-01 2024-02-28 SC226741 frs-bus:FilletedAccounts 2023-03-01 2024-02-28 SC226741 frs-bus:SmallEntities 2023-03-01 2024-02-28 SC226741 frs-bus:AuditExempt-NoAccountantsReport 2023-03-01 2024-02-28 SC226741 frs-bus:SmallCompaniesRegimeForAccounts 2023-03-01 2024-02-28 SC226741 frs-bus:Director1 2023-03-01 2024-02-28 SC226741 frs-bus:Director1 2023-02-28 SC226741 frs-bus:Director1 2024-02-28 SC226741 frs-bus:CompanySecretary1 2023-03-01 2024-02-28 SC226741 frs-countries:Scotland 2023-03-01 2024-02-28 SC226741 2022-02-28 SC226741 2023-02-28 SC226741 2022-03-01 2023-02-28 SC226741 frs-core:CurrentFinancialInstruments 2023-02-28 SC226741 frs-core:Non-currentFinancialInstruments 2023-02-28 SC226741 frs-core:ShareCapital 2023-02-28 SC226741 frs-core:RetainedEarningsAccumulatedLosses 2023-02-28
Registered number: SC226741
Sandhaven Stores Limited
Unaudited Financial Statements
For The Year Ended 28 February 2024
M Squared Accountants Ltd
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: SC226741
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 94,810 95,096
94,810 95,096
CURRENT ASSETS
Debtors 5 42,960 46,743
Cash at bank and in hand 6,165 21,637
49,125 68,380
Creditors: Amounts Falling Due Within One Year 6 (3,154 ) (1,433 )
NET CURRENT ASSETS (LIABILITIES) 45,971 66,947
TOTAL ASSETS LESS CURRENT LIABILITIES 140,781 162,043
Creditors: Amounts Falling Due After More Than One Year 7 (1,573 ) (2,795 )
PROVISIONS FOR LIABILITIES
Deferred Taxation (215 ) (218 )
NET ASSETS 138,993 159,030
CAPITAL AND RESERVES
Called up share capital 8 1,000 1,000
Profit and Loss Account 137,993 158,030
SHAREHOLDERS' FUNDS 138,993 159,030
Page 1
Page 2
For the year ending 28 February 2024 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 Steven Mair
Director
09/10/2024
The notes on pages 3 to 5 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Sandhaven Stores Limited is a private company, limited by shares, incorporated in Scotland, registered number SC226741 . The registered office is Pittendrum Bar, Bells Lane, Sandhaven, Fraserburgh, Aberdeenshire, AB43 7FP.
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. 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
Motor Vehicles 25% reducing balance
Fixtures & Fittings 25% reducing balance
Computer Equipment 25% reducing balance
2.3. 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: 1 (2023: 1)
1 1
Page 3
Page 4
4. Tangible Assets
Land & Property
Freehold Motor Vehicles Fixtures & Fittings Computer Equipment Total
£ £ £ £ £
Cost
As at 1 March 2023 93,950 16,250 39,219 1,602 151,021
As at 28 February 2024 93,950 16,250 39,219 1,602 151,021
Depreciation
As at 1 March 2023 - 15,277 39,046 1,602 55,925
Provided during the period - 243 43 - 286
As at 28 February 2024 - 15,520 39,089 1,602 56,211
Net Book Value
As at 28 February 2024 93,950 730 130 - 94,810
As at 1 March 2023 93,950 973 173 - 95,096
5. Debtors
2024 2023
£ £
Due within one year
Other debtors 42,960 43,437
Director's loan account - 3,306
42,960 46,743
6. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Bank loans and overdrafts 1,219 1,200
Corporation tax 671 (447 )
Accruals 761 680
Director's loan account 503 -
3,154 1,433
7. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Bank loans 1,573 2,795
8. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 1,000 1,000
Page 4
Page 5
9. Directors Advances, Credits and Guarantees
Included within Debtors are the following loans to directors:
As at 1 March 2023 Amounts advanced Amounts repaid Amounts written off As at 28 February 2024
£ £ £ £ £
Mr Steven Mair 3,306 28,190 31,496 - -
The above loan is unsecured, interest free and repayable on demand.
Page 5