Acorah Software Products - Accounts Production 16.0.110 false true 31 October 2022 1 November 2021 false 1 November 2022 31 October 2023 31 October 2023 SC169125 Mr David Russell Mrs Rosemary Russell Mr David Russell iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure SC169125 2022-10-31 SC169125 2023-10-31 SC169125 2022-11-01 2023-10-31 SC169125 frs-core:CurrentFinancialInstruments 2023-10-31 SC169125 frs-core:Non-currentFinancialInstruments 2023-10-31 SC169125 frs-core:BetweenOneFiveYears 2023-10-31 SC169125 frs-core:ComputerEquipment 2023-10-31 SC169125 frs-core:ComputerEquipment 2022-11-01 2023-10-31 SC169125 frs-core:ComputerEquipment 2022-10-31 SC169125 frs-core:FurnitureFittings 2023-10-31 SC169125 frs-core:FurnitureFittings 2022-11-01 2023-10-31 SC169125 frs-core:FurnitureFittings 2022-10-31 SC169125 frs-core:MotorVehicles 2023-10-31 SC169125 frs-core:MotorVehicles 2022-11-01 2023-10-31 SC169125 frs-core:MotorVehicles 2022-10-31 SC169125 frs-core:PlantMachinery 2023-10-31 SC169125 frs-core:PlantMachinery 2022-11-01 2023-10-31 SC169125 frs-core:PlantMachinery 2022-10-31 SC169125 frs-core:WithinOneYear 2023-10-31 SC169125 frs-core:ShareCapital 2023-10-31 SC169125 frs-core:RetainedEarningsAccumulatedLosses 2023-10-31 SC169125 frs-bus:PrivateLimitedCompanyLtd 2022-11-01 2023-10-31 SC169125 frs-bus:FilletedAccounts 2022-11-01 2023-10-31 SC169125 frs-bus:SmallEntities 2022-11-01 2023-10-31 SC169125 frs-bus:AuditExempt-NoAccountantsReport 2022-11-01 2023-10-31 SC169125 frs-bus:SmallCompaniesRegimeForAccounts 2022-11-01 2023-10-31 SC169125 frs-bus:Director1 2022-11-01 2023-10-31 SC169125 frs-bus:Director1 2022-10-31 SC169125 frs-bus:Director1 2023-10-31 SC169125 frs-bus:Director2 2022-11-01 2023-10-31 SC169125 frs-bus:CompanySecretary1 2022-11-01 2023-10-31 SC169125 frs-core:CurrentFinancialInstruments 1 2023-10-31 SC169125 frs-countries:Scotland 2022-11-01 2023-10-31 SC169125 2021-10-31 SC169125 2022-10-31 SC169125 2021-11-01 2022-10-31 SC169125 frs-core:CurrentFinancialInstruments 2022-10-31 SC169125 frs-core:Non-currentFinancialInstruments 2022-10-31 SC169125 frs-core:BetweenOneFiveYears 2022-10-31 SC169125 frs-core:WithinOneYear 2022-10-31 SC169125 frs-core:ShareCapital 2022-10-31 SC169125 frs-core:RetainedEarningsAccumulatedLosses 2022-10-31 SC169125 frs-core:CurrentFinancialInstruments 1 2022-10-31
Registered number: SC169125
ETI Lothian Ltd.
Financial Statements
For The Year Ended 31 October 2023
Henderson Kildavaig
109/14 Swanston Road
Edinburgh
EH10 7DS
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—6
Page 1
Balance Sheet
Registered number: SC169125
2023 2022
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 31,934 33,750
31,934 33,750
CURRENT ASSETS
Stocks 5 52,250 52,082
Debtors 6 115,303 122,562
Cash at bank and in hand 26 6,119
167,579 180,763
Creditors: Amounts Falling Due Within One Year 7 (149,387 ) (180,119 )
NET CURRENT ASSETS (LIABILITIES) 18,192 644
TOTAL ASSETS LESS CURRENT LIABILITIES 50,126 34,394
Creditors: Amounts Falling Due After More Than One Year 8 (31,481 ) (34,077 )
PROVISIONS FOR LIABILITIES
Deferred Taxation (6,493 ) -
NET ASSETS 12,152 317
CAPITAL AND RESERVES
Called up share capital 10 2 2
Profit and Loss Account 12,150 315
SHAREHOLDERS' FUNDS 12,152 317
Page 1
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For the year ending 31 October 2023 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 David Russell
Director
Mrs Rosemary Russell
Director
30 October 2024
The notes on pages 3 to 6 form part of these financial statements.
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Notes to the Financial Statements
1. General Information
ETI Lothian Ltd. is a private company, limited by shares, incorporated in Scotland, registered number SC169125 . The registered office is Unit 18 Fisherrow Industrial, Estate, Newhailes Road, Musselburgh, Midlothian, EH21 6RU.
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. 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 Straight Line - 4 Years
Motor Vehicles Straight Line - 4 Years
Fixtures & Fittings Straight Line - 4 Years
Computer Equipment Straight Line - 4 Years
2.4. 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.
2.5. 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.
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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.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 8 (2022: 8)
8 8
4. Tangible Assets
Plant & Machinery Motor Vehicles Fixtures & Fittings Computer Equipment Total
£ £ £ £ £
Cost
As at 1 November 2022 11,413 31,724 30,334 5,819 79,290
Additions - 10,980 - - 10,980
As at 31 October 2023 11,413 42,704 30,334 5,819 90,270
Depreciation
As at 1 November 2022 11,412 3,966 25,834 4,328 45,540
Provided during the period - 10,676 1,500 620 12,796
As at 31 October 2023 11,412 14,642 27,334 4,948 58,336
Net Book Value
As at 31 October 2023 1 28,062 3,000 871 31,934
As at 1 November 2022 1 27,758 4,500 1,491 33,750
5. Stocks
2023 2022
£ £
Materials 50,000 50,000
Work in progress 2,250 2,082
52,250 52,082
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6. Debtors
2023 2022
£ £
Due within one year
Trade debtors 35,168 29,779
Prepayments and accrued income 9,194 17,030
Other debtors - 5,260
Drawerboxes Loan 66,446 67,796
Other taxes and social security 1,206 -
Directors' loan accounts 3,289 2,697
115,303 122,562
7. Creditors: Amounts Falling Due Within One Year
2023 2022
£ £
Net obligations under finance lease and hire purchase contracts 8,308 5,143
Bank loans and overdrafts 14,026 19,932
Corporation tax 25,127 15,636
Other taxes and social security - 15,221
VAT 28,707 40,626
Net wages - 1,884
Other creditors 5,618 2,380
Pension Account 10,023 5,764
Accruals and deferred income 57,578 73,533
149,387 180,119
8. Creditors: Amounts Falling Due After More Than One Year
2023 2022
£ £
Net obligations under finance lease and hire purchase contracts 23,564 21,160
Bank loans 7,917 12,917
31,481 34,077
9. Obligations Under Finance Leases and Hire Purchase
2023 2022
£ £
The future minimum finance lease payments are as follows:
Not later than one year 8,308 5,143
Later than one year and not later than five years 23,564 21,160
31,872 26,303
31,872 26,303
10. Share Capital
2023 2022
£ £
Allotted, Called up and fully paid 2 2
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11. Directors Advances, Credits and Guarantees
Included within Debtors are the following loans to directors:
As at 1 November 2022 Amounts advanced Amounts repaid Amounts written off As at 31 October 2023
£ £ £ £ £
Mr David Russell 2,697 2,674 (2,082 ) - 3,289
The above loan is unsecured, interest free and repayable on demand.
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