Acorah Software Products - Accounts Production 14.6.300 false true 30 June 2023 1 July 2022 false 1 July 2023 30 June 2024 30 June 2024 SC643796 Mr Stuart Gunderson Mr Mark Gunderson Mr Neil Gunderson Mr Ross Gunderson iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure SC643796 2023-06-30 SC643796 2024-06-30 SC643796 2023-07-01 2024-06-30 SC643796 frs-core:CurrentFinancialInstruments 2024-06-30 SC643796 frs-core:RevaluationReserve 2023-06-30 SC643796 frs-core:RevaluationReserve 2024-06-30 SC643796 frs-core:ShareCapital 2024-06-30 SC643796 frs-core:RetainedEarningsAccumulatedLosses 2024-06-30 SC643796 frs-bus:PrivateLimitedCompanyLtd 2023-07-01 2024-06-30 SC643796 frs-bus:FilletedAccounts 2023-07-01 2024-06-30 SC643796 frs-bus:SmallEntities 2023-07-01 2024-06-30 SC643796 frs-bus:AuditExempt-NoAccountantsReport 2023-07-01 2024-06-30 SC643796 frs-bus:SmallCompaniesRegimeForAccounts 2023-07-01 2024-06-30 SC643796 frs-bus:Director1 2023-07-01 2024-06-30 SC643796 frs-bus:Director2 2023-07-01 2024-06-30 SC643796 frs-bus:Director3 2023-07-01 2024-06-30 SC643796 frs-bus:Director4 2023-07-01 2024-06-30 SC643796 frs-countries:Scotland 2023-07-01 2024-06-30 SC643796 2022-06-30 SC643796 2023-06-30 SC643796 2022-07-01 2023-06-30 SC643796 frs-core:CurrentFinancialInstruments 2023-06-30 SC643796 frs-core:RevaluationReserve 2023-06-30 SC643796 frs-core:ShareCapital 2023-06-30 SC643796 frs-core:RetainedEarningsAccumulatedLosses 2023-06-30
Registered number: SC643796
Machair Property Limited
Unaudited Financial Statements
For The Year Ended 30 June 2024
D Napier Accountancy
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—4
Page 1
Balance Sheet
Registered number: SC643796
2024 2023
Notes £ £ £ £
FIXED ASSETS
Investment Properties 4 457,484 457,484
457,484 457,484
CURRENT ASSETS
Cash at bank and in hand 9,179 63,866
9,179 63,866
Creditors: Amounts Falling Due Within One Year 5 (111,845 ) (184,987 )
NET CURRENT ASSETS (LIABILITIES) (102,666 ) (121,121 )
TOTAL ASSETS LESS CURRENT LIABILITIES 354,818 336,363
NET ASSETS 354,818 336,363
CAPITAL AND RESERVES
Called up share capital 6 100 100
Revaluation reserve 7 300,000 300,000
Profit and Loss Account 54,718 36,263
SHAREHOLDERS' FUNDS 354,818 336,363
Page 1
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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 Stuart Gunderson
Director
4th October 2024
The notes on pages 3 to 4 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Machair Property Limited is a private company, limited by shares, incorporated in Scotland, registered number SC643796 . The registered office is c/o Turcan Connell Princes Exchange, 1 Earl Grey Street, Edinburgh, EH3 9EE.
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. Investment Properties
No independent valuation has been carried out in the year. The directors have reviewed the market values of the properties held using current market conditions as a basis and are of the opinion that the fair value of the properties held at the period end are not materially different. 
The directors have therefore concluded that no revaluation is required. 
2.4. 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: 4 (2023: 4)
4 4
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4. Investment Property
2024
£
Fair Value
As at 1 July 2023 and 30 June 2024 457,484
5. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors (1 ) (1 )
Corporation tax 4,479 4,184
Accruals and deferred income 600 900
Directors' loan accounts 106,767 179,904
111,845 184,987
6. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 100 100
7. Reserves
Revaluation Reserve
£
As at 1 July 2023 300,000
As at 30 June 2024 300,000
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