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 SC441040 Mr Iain Oliver Mr David Oliver Mr Iain Oliver iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure SC441040 2023-01-31 SC441040 2024-01-31 SC441040 2023-02-01 2024-01-31 SC441040 frs-core:CurrentFinancialInstruments 2024-01-31 SC441040 frs-core:Non-currentFinancialInstruments 2024-01-31 SC441040 frs-core:BetweenOneFiveYears 2024-01-31 SC441040 frs-core:FurnitureFittings 2024-01-31 SC441040 frs-core:FurnitureFittings 2023-02-01 2024-01-31 SC441040 frs-core:FurnitureFittings 2023-01-31 SC441040 frs-core:NetGoodwill 2024-01-31 SC441040 frs-core:NetGoodwill 2023-02-01 2024-01-31 SC441040 frs-core:NetGoodwill 2023-01-31 SC441040 frs-core:MotorVehicles 2024-01-31 SC441040 frs-core:MotorVehicles 2023-02-01 2024-01-31 SC441040 frs-core:MotorVehicles 2023-01-31 SC441040 frs-core:PlantMachinery 2024-01-31 SC441040 frs-core:PlantMachinery 2023-02-01 2024-01-31 SC441040 frs-core:PlantMachinery 2023-01-31 SC441040 frs-core:WithinOneYear 2024-01-31 SC441040 frs-core:ShareCapital 2024-01-31 SC441040 frs-core:RetainedEarningsAccumulatedLosses 2024-01-31 SC441040 frs-bus:PrivateLimitedCompanyLtd 2023-02-01 2024-01-31 SC441040 frs-bus:FilletedAccounts 2023-02-01 2024-01-31 SC441040 frs-bus:SmallEntities 2023-02-01 2024-01-31 SC441040 frs-bus:AuditExempt-NoAccountantsReport 2023-02-01 2024-01-31 SC441040 frs-bus:SmallCompaniesRegimeForAccounts 2023-02-01 2024-01-31 SC441040 frs-bus:Director1 2023-02-01 2024-01-31 SC441040 frs-bus:Director2 2023-02-01 2024-01-31 SC441040 frs-bus:CompanySecretary1 2023-02-01 2024-01-31 SC441040 frs-core:CurrentFinancialInstruments 1 2024-01-31 SC441040 frs-countries:Scotland 2023-02-01 2024-01-31 SC441040 2022-01-31 SC441040 2023-01-31 SC441040 2022-02-01 2023-01-31 SC441040 frs-core:CurrentFinancialInstruments 2023-01-31 SC441040 frs-core:Non-currentFinancialInstruments 2023-01-31 SC441040 frs-core:BetweenOneFiveYears 2023-01-31 SC441040 frs-core:WithinOneYear 2023-01-31 SC441040 frs-core:ShareCapital 2023-01-31 SC441040 frs-core:RetainedEarningsAccumulatedLosses 2023-01-31 SC441040 frs-core:CurrentFinancialInstruments 1 2023-01-31
Registered number: SC441040
Oliver Engineering (Borders) Limited
Unaudited Financial Statements
For The Year Ended 31 January 2024
Michael Revels & Co
Ladhope Vale House
Ladhope Vale
Galashiels
Selkirkshire
TD1 1BT
Unaudited Financial Statements
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—6
Page 1
Balance Sheet
Registered number: SC441040
2024 2023
Notes £ £ £ £
FIXED ASSETS
Intangible Assets 4 10,000 10,000
Tangible Assets 5 435,099 184,700
445,099 194,700
CURRENT ASSETS
Stocks 6 25,000 25,000
Debtors 7 305,129 189,392
Cash at bank and in hand 96,647 15,446
426,776 229,838
Creditors: Amounts Falling Due Within One Year 8 (156,504 ) (85,151 )
NET CURRENT ASSETS (LIABILITIES) 270,272 144,687
TOTAL ASSETS LESS CURRENT LIABILITIES 715,371 339,387
Creditors: Amounts Falling Due After More Than One Year 9 (136,824 ) (36,634 )
NET ASSETS 578,547 302,753
CAPITAL AND RESERVES
Called up share capital 11 202 202
Profit and Loss Account 578,345 302,551
SHAREHOLDERS' FUNDS 578,547 302,753
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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
Mr Iain Oliver
Director
19/10/2024
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
Oliver Engineering (Borders) Limited is a private company, limited by shares, incorporated in Scotland, registered number SC441040 . The registered office is Ladhope Vale House, Ladhope Vale, Galashiels, TD1 1BT.
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.
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 15% reducing balance
Motor Vehicles 25% reducing balance
Fixtures & Fittings 15% 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 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. Intangible Assets
Goodwill
£
Cost
As at 1 February 2023 10,000
As at 31 January 2024 10,000
Net Book Value
As at 31 January 2024 10,000
As at 1 February 2023 10,000
5. Tangible Assets
Plant & Machinery Motor Vehicles Fixtures & Fittings Total
£ £ £ £
Cost
As at 1 February 2023 158,702 92,869 30,309 281,880
Additions 292,001 24,167 1,612 317,780
As at 31 January 2024 450,703 117,036 31,921 599,660
Depreciation
As at 1 February 2023 57,962 32,038 7,180 97,180
Provided during the period 46,074 17,708 3,599 67,381
As at 31 January 2024 104,036 49,746 10,779 164,561
Net Book Value
As at 31 January 2024 346,667 67,290 21,142 435,099
As at 1 February 2023 100,740 60,831 23,129 184,700
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6. Stocks
2024 2023
£ £
Stock 25,000 25,000
7. Debtors
2024 2023
£ £
Due within one year
Trade debtors 167,124 31,476
Other debtors 2,237 1,707
Other debtors (1) 132,272 131,272
VAT 3,496 18,306
Directors' loan accounts - 6,631
305,129 189,392
8. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Net obligations under finance lease and hire purchase contracts 47,984 12,867
Trade creditors 23,714 3,401
Bank loans and overdrafts 36,658 41,883
Corporation tax 2,480 -
Other taxes and social security 1,261 -
Other creditors 15,000 25,000
Accruals and deferred income 2,000 2,000
Directors' loan accounts 27,407 -
156,504 85,151
9. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Net obligations under finance lease and hire purchase contracts 136,824 36,634
136,824 36,634
10. Obligations Under Finance Leases and Hire Purchase
2024 2023
£ £
The future minimum finance lease payments are as follows:
Not later than one year 47,984 12,867
Later than one year and not later than five years 136,824 36,634
184,808 49,501
184,808 49,501
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11. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 202 202
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