Acorah Software Products - Accounts Production 15.0.600 false true 30 June 2023 1 July 2022 false 1 July 2023 30 June 2024 30 June 2024 SC065701 Mr Steven Spence Mr Steven Spence iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure SC065701 2023-06-30 SC065701 2024-06-30 SC065701 2023-07-01 2024-06-30 SC065701 frs-core:CurrentFinancialInstruments 2024-06-30 SC065701 frs-core:DevelopmentCostsCapitalisedDevelopmentExpenditure 2023-07-01 2024-06-30 SC065701 frs-core:LandBuildings frs-core:LeasedAssetsHeldAsLessee 2024-06-30 SC065701 frs-core:LandBuildings frs-core:LeasedAssetsHeldAsLessee 2023-07-01 2024-06-30 SC065701 frs-core:LandBuildings frs-core:LeasedAssetsHeldAsLessee 2023-06-30 SC065701 frs-core:LandBuildings frs-core:OwnedOrFreeholdAssets 2024-06-30 SC065701 frs-core:LandBuildings frs-core:OwnedOrFreeholdAssets 2023-07-01 2024-06-30 SC065701 frs-core:LandBuildings frs-core:OwnedOrFreeholdAssets 2023-06-30 SC065701 frs-core:MotorVehicles 2024-06-30 SC065701 frs-core:MotorVehicles 2023-07-01 2024-06-30 SC065701 frs-core:MotorVehicles 2023-06-30 SC065701 frs-core:OtherResidualIntangibleAssets 2024-06-30 SC065701 frs-core:OtherResidualIntangibleAssets 2023-07-01 2024-06-30 SC065701 frs-core:OtherResidualIntangibleAssets 2023-06-30 SC065701 frs-core:PlantMachinery 2024-06-30 SC065701 frs-core:PlantMachinery 2023-07-01 2024-06-30 SC065701 frs-core:PlantMachinery 2023-06-30 SC065701 frs-core:CapitalRedemptionReserve 2024-06-30 SC065701 frs-core:OtherReservesSubtotal 2024-06-30 SC065701 frs-core:RevaluationReserve 2023-07-01 2024-06-30 SC065701 frs-core:RevaluationReserve 2023-06-30 SC065701 frs-core:RevaluationReserve 2024-06-30 SC065701 frs-core:SharePremium 2024-06-30 SC065701 frs-core:ShareCapital 2024-06-30 SC065701 frs-core:RetainedEarningsAccumulatedLosses 2024-06-30 SC065701 frs-bus:PrivateLimitedCompanyLtd 2023-07-01 2024-06-30 SC065701 frs-bus:FilletedAccounts 2023-07-01 2024-06-30 SC065701 frs-bus:SmallEntities 2023-07-01 2024-06-30 SC065701 frs-bus:AuditExempt-NoAccountantsReport 2023-07-01 2024-06-30 SC065701 frs-bus:SmallCompaniesRegimeForAccounts 2023-07-01 2024-06-30 SC065701 frs-bus:Director1 2023-07-01 2024-06-30 SC065701 frs-bus:Director1 2023-06-30 SC065701 frs-bus:Director1 2024-06-30 SC065701 frs-bus:CompanySecretary1 2023-07-01 2024-06-30 SC065701 frs-countries:Scotland 2023-07-01 2024-06-30 SC065701 2022-06-30 SC065701 2023-06-30 SC065701 2022-07-01 2023-06-30 SC065701 frs-core:CurrentFinancialInstruments 2023-06-30 SC065701 frs-core:CapitalRedemptionReserve 2023-06-30 SC065701 frs-core:OtherReservesSubtotal 2023-06-30 SC065701 frs-core:RevaluationReserve 2023-06-30 SC065701 frs-core:SharePremium 2023-06-30 SC065701 frs-core:ShareCapital 2023-06-30 SC065701 frs-core:RetainedEarningsAccumulatedLosses 2023-06-30
Registered number: SC065701
JOHN JOLLY (1978) LIMITED
Unaudited Financial Statements
For The Year Ended 30 June 2024
Leitch Accountancy Services Limited
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—6
Page 1
Balance Sheet
Registered number: SC065701
2024 2023
Notes £ £ £ £
FIXED ASSETS
Intangible Assets 4 20,000 145,000
Tangible Assets 5 93,294 140,871
Investment Properties 6 488,005 488,005
601,299 773,876
CURRENT ASSETS
Stocks 7 - 100
Debtors 8 301,954 333,994
Cash at bank and in hand 83,530 399,344
385,484 733,438
Creditors: Amounts Falling Due Within One Year 9 (106,190 ) (174,753 )
NET CURRENT ASSETS (LIABILITIES) 279,294 558,685
TOTAL ASSETS LESS CURRENT LIABILITIES 880,593 1,332,561
PROVISIONS FOR LIABILITIES
Deferred Taxation (6,850 ) (7,335 )
NET ASSETS 873,743 1,325,226
CAPITAL AND RESERVES
Called up share capital 10 5,432 10,002
Share premium account 80 80
Revaluation reserve 12 31,871 32,918
Capital redemption reserve 4,570 -
Other reserves 99,744 99,744
Profit and Loss Account 732,046 1,182,482
SHAREHOLDERS' FUNDS 873,743 1,325,226
Page 1
Page 2
For the year ending 30 June 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 Steven Spence
Director
23/10/2024
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
John Jolly (1978) Limited (the Company) is a private company, limited by shares, incorporated in Scotland, registered number SC065701 . The registered office is Unit 1 Kiln Corner, Ayre Road, Kirkwall, KW15 1QX.
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 represents amounts receivable for goods and services net of VAT and trade discounts. Agency fees
and commissions are recognised when the company has earned the right to the income. Other income is
recognised when the company has performed the relevant services in line with its contracted terms.
2.3. Intangible Fixed Assets and Amortisation - Other Intangible
Vehicle registration numbers are valued at cost. There is no amortisation as the residual value of the
registrations is considered to be in excess of cost.
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 50 years straight line
Leasehold 50 years straight line
Plant & Machinery 10 years straight line
Motor Vehicles 25% reducing balance
2.5. Investment Properties
Investment property is initially recognised at cost, which includes the purchase cost and any directly
attributable expenditure. Subsequently it is measured at fair value at each reporting date with changes in fair
value recognised in profit or loss. Deferred taxation is provided on these gains at the rate expected to apply
when the property is sold.
2.6. 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.
2.7. Financial Instruments
Financial assets and financial liabilities are recognised when the Company becomes a party to the
contractual provisions of the instrument.
Financial liabilities and equity instruments are classified according to the substance of the contractual
arrangements entered into. An equity instrument is any contract that evidences a residual interest in the
assets of the Company after deducting all of its liabilities.
Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a
legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net
basis, or to realise the asset and settle the liability simultaneously.
Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at
transaction price including transaction costs and are subsequently carried at amortised cost using the
effective interest method unless the arrangement constitutes a financing transaction, where the transaction is
measured at the present value of the future receipts discounted at a market rate of interest. Financial assets
...CONTINUED
Page 3
Page 4
2.7. Financial Instruments - continued
classified as receivable within one year are not amortised.
Basic financial liabilities
Basic financial liabilities, including creditors, bank loans, and preference shares that are classified as debt,
are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where
the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.
Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of
business from suppliers. Amounts payable are classified as current liabilities if payment is due within one
year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at
transaction price and subsequently measured at amortised cost using the effective interest method.
Equity instruments
Equity instruments issued by the Company are recorded at the fair value of cash or other resources received
or receivable, net of direct issue costs. If payment is deferred and the time value of money is material, the
initial measurement is on a present value basis. Dividends payable on equity instruments are recognised as
liabilities once they are no longer at the discretion of the Company
2.8. 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.
2.9. Cash and cash equivalents
Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with
banks, and bank overdrafts. Bank overdrafts are shown within borrowings in creditors: amounts falling due
within one year.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 43 (2023: 41)
43 41
Page 4
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4. Intangible Assets
Other
£
Cost
As at 1 July 2023 145,000
Disposals (125,000 )
As at 30 June 2024 20,000
Net Book Value
As at 30 June 2024 20,000
As at 1 July 2023 145,000
5. Tangible Assets
Land & Property
Freehold Leasehold Plant & Machinery Motor Vehicles Total
£ £ £ £ £
Cost
As at 1 July 2023 51,819 35,097 190,416 147,938 425,270
Additions - - 5,038 - 5,038
Disposals - - - (76,354 ) (76,354 )
As at 30 June 2024 51,819 35,097 195,454 71,584 353,954
Depreciation
As at 1 July 2023 16,554 12,719 170,663 84,463 284,399
Provided during the period 1,036 702 3,608 5,402 10,748
Disposals - - - (34,487 ) (34,487 )
As at 30 June 2024 17,590 13,421 174,271 55,378 260,660
Net Book Value
As at 30 June 2024 34,229 21,676 21,183 16,206 93,294
As at 1 July 2023 35,265 22,378 19,753 63,475 140,871
6. Investment Property
2024
£
Fair Value
As at 1 July 2023 and 30 June 2024 488,005
The investment properties were valued at £488,005 at 30 June 2021 on an open market basis. The director
considers this value to continue to represent the fair value of investment properties at 30 June 2024. The
historical cost of investment properties is £416,560.
7. Stocks
2024 2023
£ £
Stock - 100
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8. Debtors
2024 2023
£ £
Due within one year
Trade debtors 251,202 230,117
Other debtors 50,752 103,877
301,954 333,994
9. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 3,395 13,462
Other creditors 37,869 67,611
Taxation and social security 64,926 93,680
106,190 174,753
10. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 5,432 10,002
As noted on the Statement of Changes in Equity on page 7, during the year the company bought back 4,570 ordinary shares for an agreed consideration.
11. Directors Advances, Credits and Guarantees
Included within creditors is the following loan from the director:
As at 1 July 2023 Amounts advanced Amounts repaid Amounts written off As at 30 June 2024
£ £ £ £ £
Mr Steven Spence (47,055 ) 81,500 (51,813 ) - (17,368 )
The above loan is unsecured, interest free and has no fixed terms of repayment.
12. Reserves
Revaluation Reserve
£
As at 1 July 2023 32,918
Transfer to profit and loss (1,047 )
As at 30 June 2024 31,871
Page 6