Acorah Software Products - Accounts Production 15.0.600 false true 31 May 2023 1 June 2022 false 1 June 2023 31 May 2024 31 May 2024 SC697730 Mr Paul Dougall true iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure SC697730 2023-05-31 SC697730 2024-05-31 SC697730 2023-06-01 2024-05-31 SC697730 frs-core:CurrentFinancialInstruments 2024-05-31 SC697730 frs-core:ComputerEquipment 2024-05-31 SC697730 frs-core:ComputerEquipment 2023-06-01 2024-05-31 SC697730 frs-core:ComputerEquipment 2023-05-31 SC697730 frs-core:FurnitureFittings 2024-05-31 SC697730 frs-core:FurnitureFittings 2023-06-01 2024-05-31 SC697730 frs-core:FurnitureFittings 2023-05-31 SC697730 frs-core:InvestmentPropertyIncludedWithinPPE 2024-05-31 SC697730 frs-core:InvestmentPropertyIncludedWithinPPE 2023-06-01 2024-05-31 SC697730 frs-core:InvestmentPropertyIncludedWithinPPE 2023-05-31 SC697730 frs-core:LandBuildings frs-core:OwnedOrFreeholdAssets 2023-06-01 2024-05-31 SC697730 frs-core:ShareCapital 2024-05-31 SC697730 frs-core:RetainedEarningsAccumulatedLosses 2024-05-31 SC697730 frs-bus:PrivateLimitedCompanyLtd 2023-06-01 2024-05-31 SC697730 frs-bus:FilletedAccounts 2023-06-01 2024-05-31 SC697730 frs-bus:SmallEntities 2023-06-01 2024-05-31 SC697730 frs-bus:AuditExempt-NoAccountantsReport 2023-06-01 2024-05-31 SC697730 frs-bus:SmallCompaniesRegimeForAccounts 2023-06-01 2024-05-31 SC697730 1 2023-06-01 2024-05-31 SC697730 frs-core:DeferredTaxation 2023-06-01 2024-05-31 SC697730 frs-core:DeferredTaxation 2023-05-31 SC697730 frs-core:DeferredTaxation 2024-05-31 SC697730 frs-bus:Director1 2023-06-01 2024-05-31 SC697730 frs-core:CurrentFinancialInstruments 2 2024-05-31 SC697730 frs-countries:Scotland 2023-06-01 2024-05-31 SC697730 2022-05-31 SC697730 2023-05-31 SC697730 2022-06-01 2023-05-31 SC697730 frs-core:CurrentFinancialInstruments 2023-05-31 SC697730 frs-core:ShareCapital 2023-05-31 SC697730 frs-core:RetainedEarningsAccumulatedLosses 2023-05-31 SC697730 frs-core:CurrentFinancialInstruments 2 2023-05-31
Registered number: SC697730
Dougall Lets Ltd
Unaudited Financial Statements
For The Year Ended 31 May 2024
Calculus Accountants (Scotland) Ltd
10 Avonhead Road
Condorrat
Glasgow
G67 4RA
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: SC697730
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 155,413 156,979
155,413 156,979
CURRENT ASSETS
Debtors 5 61,438 347
Cash at bank and in hand 3,789 4,732
65,227 5,079
Creditors: Amounts Falling Due Within One Year 6 (200,151 ) (163,709 )
NET CURRENT ASSETS (LIABILITIES) (134,924 ) (158,630 )
TOTAL ASSETS LESS CURRENT LIABILITIES 20,489 (1,651 )
PROVISIONS FOR LIABILITIES
Deferred Taxation 7 (1,570 ) (1,867 )
NET ASSETS/(LIABILITIES) 18,919 (3,518 )
CAPITAL AND RESERVES
Called up share capital 9 100 100
Profit and Loss Account 18,819 (3,618 )
SHAREHOLDERS' FUNDS 18,919 (3,518)
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For the year ending 31 May 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 Paul Dougall
Director
23/10/2024
The notes on pages 3 to 5 form part of these financial statements.
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Notes to the Financial Statements
1. General Information
Dougall Lets Ltd is a private company, limited by shares, incorporated in Scotland, registered number SC697730 . The registered office is 10 Avonhead Road, Condorrat, Cumbernauld, Glasgow, G67 4RA.
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, if relevant. Turnover relates solely to revenue earned from the letting income received. 
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 0 %
Fixtures & Fittings 20% - reducing balance basis
Computer Equipment 20% - reducing balance basis
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.
The investment property and refurbishment values are stated at cost and whilst the director is of the opinion that the market value will have increased no provision for a revaluation has been provided for within these statements.
The one further property acquired in the year was then renovated and sold, with the cost being stated as the combined figure of the property purchase price and renovation costs.
2.5. 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: 1 (2023: 1)
1 1
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4. Tangible Assets
Investment Properties Fixtures & Fittings Computer Equipment Total
£ £ £ £
Cost
As at 1 June 2023 147,152 10,059 2,399 159,610
Additions 72,460 470 - 72,930
Disposals (72,460 ) - - (72,460 )
As at 31 May 2024 147,152 10,529 2,399 160,080
Depreciation
As at 1 June 2023 - 2,016 615 2,631
Provided during the period - 1,679 357 2,036
As at 31 May 2024 - 3,695 972 4,667
Net Book Value
As at 31 May 2024 147,152 6,834 1,427 155,413
As at 1 June 2023 147,152 8,043 1,784 156,979
The investment property is unincumbered and was purchased outright via funds introduced by the director personally, as was all property renovation costs, from his own savings and financial assistance from family members. The initial cost, including legal fees, outlays and ADT was £98,494 with further renovation costs of £48,658.
The further property acquired in the year was at an initial purchase price of £45,230 (including legal fees, outlays and ADT), with further renovation costs of £27,230, and was then sold in April 2024 for £91,500 less sale costs of £1,495.
5. Debtors
2024 2023
£ £
Due within one year
Prepayments and accrued income 360 347
Other debtor - inter company loan account 61,078 -
61,438 347
The inter-company loan is to a company in which the director is a co-director and shareholder, and is repayable on demand.
6. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Corporation tax 5,856 9
Accrued charges 1,333 969
Director's loan account 192,962 162,731
200,151 163,709
The directors loan account is unsecured, interest free and has no fixed terms of repayment.
7. Deferred Taxation
The provision for deferred taxation is made up of accelerated capital allowances.
2024 2023
£ £
Other timing differences 1,570 1,867
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8. Provisions for Liabilities
Deferred Tax Total
£ £
As at 1 June 2023 1,867 1,867
Utilised (297 ) (297)
Balance at 31 May 2024 1,570 1,570
9. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 100 100
10. Ultimate Controlling Party
The company's ultimate controlling party is the director Paul Dougall by virtue of his ownership of 100% of the issued share capital in the company.
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