Acorah Software Products - Accounts Production 16.0.110 false true 31 March 2023 1 April 2022 false 1 April 2023 31 March 2024 31 March 2024 SC503378 Mr Paul Menzies Mr Malcolm Menzies iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure SC503378 2023-03-31 SC503378 2024-03-31 SC503378 2023-04-01 2024-03-31 SC503378 frs-core:CurrentFinancialInstruments 2024-03-31 SC503378 frs-core:ComputerEquipment 2024-03-31 SC503378 frs-core:ComputerEquipment 2023-04-01 2024-03-31 SC503378 frs-core:ComputerEquipment 2023-03-31 SC503378 frs-core:ShareCapital 2024-03-31 SC503378 frs-core:RetainedEarningsAccumulatedLosses 2024-03-31 SC503378 frs-bus:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 SC503378 frs-bus:FilletedAccounts 2023-04-01 2024-03-31 SC503378 frs-bus:SmallEntities 2023-04-01 2024-03-31 SC503378 frs-bus:AuditExempt-NoAccountantsReport 2023-04-01 2024-03-31 SC503378 frs-bus:SmallCompaniesRegimeForAccounts 2023-04-01 2024-03-31 SC503378 frs-bus:Director1 2023-04-01 2024-03-31 SC503378 frs-bus:Director2 2023-04-01 2024-03-31 SC503378 frs-countries:Scotland 2023-04-01 2024-03-31 SC503378 2022-03-31 SC503378 2023-03-31 SC503378 2022-04-01 2023-03-31 SC503378 frs-core:CurrentFinancialInstruments 2023-03-31 SC503378 frs-core:ShareCapital 2023-03-31 SC503378 frs-core:RetainedEarningsAccumulatedLosses 2023-03-31
Registered number: SC503378
Paul Menzies Limited
Unaudited Financial Statements
For The Year Ended 31 March 2024
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: SC503378
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 1,180 1,573
1,180 1,573
CURRENT ASSETS
Stocks 5 1,861,122 1,724,316
Debtors 6 125,190 159,340
Cash at bank and in hand 144,174 197,568
2,130,486 2,081,224
Creditors: Amounts Falling Due Within One Year 7 (1,465,709 ) (1,448,881 )
NET CURRENT ASSETS (LIABILITIES) 664,777 632,343
TOTAL ASSETS LESS CURRENT LIABILITIES 665,957 633,916
NET ASSETS 665,957 633,916
CAPITAL AND RESERVES
Called up share capital 8 100 100
Profit and Loss Account 665,857 633,816
SHAREHOLDERS' FUNDS 665,957 633,916
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For the year ending 31 March 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 Paul Menzies
Director
8th November 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
Paul Menzies Limited is a private company, limited by shares, incorporated in Scotland, registered number SC503378 . The registered office is 1 Livingstone Crescent, Falkirk, Stirlingshire, FK2 9BW.
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.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.
The assets' residual values, useful lives and depreciation methods are reviewed and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.
Gains and losses on disposals are determined by comparing the proceeds with the carrying value amount and are recognised in the Income Statement.
Computer Equipment 25% on reducing balance
2.4. 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.
2.5. Financial Instruments
The company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties and loans to related parties.
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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2.7. Debtors
 Short term debtors are measured at transaction price, less any impairment.
2.8. Cash and cash equivalents
Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours.
2.9. Creditors
Short term creditors are measured at the transaction price.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 4 (2023: 4)
4 4
4. Tangible Assets
Computer Equipment
£
Cost
As at 1 April 2023 2,798
As at 31 March 2024 2,798
Depreciation
As at 1 April 2023 1,225
Provided during the period 393
As at 31 March 2024 1,618
Net Book Value
As at 31 March 2024 1,180
As at 1 April 2023 1,573
5. Stocks
2024 2023
£ £
Stock 1,861,122 1,724,316
6. Debtors
2024 2023
£ £
Due within one year
Trade debtors 125,190 115,890
Other debtors - 43,450
125,190 159,340
7. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Other creditors 1,439,024 1,360,741
Taxation and social security 26,685 88,140
1,465,709 1,448,881
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8. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 100 100
9. Related Party Transactions
Interest is charged on the outstanding loan from the director.
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