Acorah Software Products - Accounts Production 16.0.110 false true 31 January 2023 1 February 2022 false 1 February 2023 31 January 2024 31 January 2024 SC348151 James McKeever Clare McKeever iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure SC348151 2023-01-31 SC348151 2024-01-31 SC348151 2023-02-01 2024-01-31 SC348151 frs-core:CurrentFinancialInstruments 2024-01-31 SC348151 frs-core:Non-currentFinancialInstruments 2024-01-31 SC348151 frs-core:NetGoodwill 2024-01-31 SC348151 frs-core:NetGoodwill 2023-02-01 2024-01-31 SC348151 frs-core:NetGoodwill 2023-01-31 SC348151 frs-core:LandBuildings frs-core:OwnedOrFreeholdAssets 2024-01-31 SC348151 frs-core:LandBuildings frs-core:OwnedOrFreeholdAssets 2023-02-01 2024-01-31 SC348151 frs-core:LandBuildings frs-core:OwnedOrFreeholdAssets 2023-01-31 SC348151 frs-core:MotorVehicles 2024-01-31 SC348151 frs-core:MotorVehicles 2023-02-01 2024-01-31 SC348151 frs-core:MotorVehicles 2023-01-31 SC348151 frs-core:PlantMachinery 2024-01-31 SC348151 frs-core:PlantMachinery 2023-02-01 2024-01-31 SC348151 frs-core:PlantMachinery 2023-01-31 SC348151 frs-core:SharePremium 2024-01-31 SC348151 frs-core:ShareCapital 2024-01-31 SC348151 frs-core:RetainedEarningsAccumulatedLosses 2024-01-31 SC348151 frs-bus:PrivateLimitedCompanyLtd 2023-02-01 2024-01-31 SC348151 frs-bus:FilletedAccounts 2023-02-01 2024-01-31 SC348151 frs-bus:SmallEntities 2023-02-01 2024-01-31 SC348151 frs-bus:AuditExempt-NoAccountantsReport 2023-02-01 2024-01-31 SC348151 frs-bus:SmallCompaniesRegimeForAccounts 2023-02-01 2024-01-31 SC348151 frs-bus:Director1 2023-02-01 2024-01-31 SC348151 frs-bus:Director2 2023-02-01 2024-01-31 SC348151 frs-countries:Scotland 2023-02-01 2024-01-31 SC348151 2022-01-31 SC348151 2023-01-31 SC348151 2022-02-01 2023-01-31 SC348151 frs-core:CurrentFinancialInstruments 2023-01-31 SC348151 frs-core:Non-currentFinancialInstruments 2023-01-31 SC348151 frs-core:SharePremium 2023-01-31 SC348151 frs-core:ShareCapital 2023-01-31 SC348151 frs-core:RetainedEarningsAccumulatedLosses 2023-01-31
Registered number: SC348151
James McKeever Limited
Financial Statements
For The Year Ended 31 January 2024
14 Newton Place
Glasgow
G3 7PY
Contents
Page
Statement of Financial Position 1—2
Notes to the Financial Statements 3—5
Page 1
Statement of Financial Position
Registered number: SC348151
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 5 427,448 360,096
427,448 360,096
CURRENT ASSETS
Stocks 6 41,255 40,006
Debtors 7 281,875 160,751
Cash at bank and in hand 32,405 197,721
355,535 398,478
Creditors: Amounts Falling Due Within One Year 8 (402,377 ) (455,507 )
NET CURRENT ASSETS (LIABILITIES) (46,842 ) (57,029 )
TOTAL ASSETS LESS CURRENT LIABILITIES 380,606 303,067
Creditors: Amounts Falling Due After More Than One Year 9 (15,833 ) (25,833 )
NET ASSETS 364,773 277,234
CAPITAL AND RESERVES
Called up share capital 10 1,000 1,000
Share premium account 83,000 83,000
Income Statement 280,773 193,234
SHAREHOLDERS' FUNDS 364,773 277,234
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 Income Statement.
On behalf of the board
James McKeever
Director
30/04/2024
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
James McKeever Limited is a private company, limited by shares, incorporated in Scotland, registered number SC348151 . The registered office is 14 Newton Place , Glasgow , G3 7PY.
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.
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 income statement 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:
Freehold No Depreciation
Plant & Machinery 20% Reducing Balance
Motor Vehicles 25% Reducing Balance
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. 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.
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Page 4
2.7. Government Grant
Government grants are recognised in the income statement in an appropriate manner that matches them with the expenditure towards which they are intended to contribute.
Grants for immediate financial support or to cover costs already incurred are recognised immediately in the income statement. Grants towards general activities of the entity over a specific period are recognised in the income statement over that period.
Grants towards fixed assets are recognised over the expected useful lives of the related assets and are treated as deferred income and released to the income statement over the useful life of the asset concerned.
All grants in the income statement are recognised when all conditions for receipt have been complied with.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 8 (2023: 8)
8 8
4. Intangible Assets
Goodwill
£
Cost
As at 1 February 2023 224,000
As at 31 January 2024 224,000
Amortisation
As at 1 February 2023 224,000
As at 31 January 2024 224,000
Net Book Value
As at 31 January 2024 -
As at 1 February 2023 -
5. Tangible Assets
Land & Property
Freehold Plant & Machinery Motor Vehicles Total
£ £ £ £
Cost
As at 1 February 2023 95,000 462,510 - 557,510
Additions - 5,166 85,187 90,353
As at 31 January 2024 95,000 467,676 85,187 647,863
Depreciation
As at 1 February 2023 - 197,414 - 197,414
Provided during the period - 1,704 21,297 23,001
As at 31 January 2024 - 199,118 21,297 220,415
Net Book Value
As at 31 January 2024 95,000 268,558 63,890 427,448
As at 1 February 2023 95,000 265,096 - 360,096
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Page 5
6. Stocks
2024 2023
£ £
Materials 41,255 40,006
7. Debtors
2024 2023
£ £
Due within one year
Trade debtors 119,388 94,696
VAT 50,487 66,055
169,875 160,751
Due after more than one year
Amounts owed by associates 112,000 -
281,875 160,751
8. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 188,451 174,020
Bank loans and overdrafts 12,373 10,000
Corporation tax 15,141 52,399
Other taxes and social security 437 2,157
Other creditors 184,192 184,067
Accruals and deferred income 1,600 32,864
Directors' loan accounts 183 -
402,377 455,507
9. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Bank loans 15,833 25,833
10. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 1,000 1,000
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