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 SC395763 Mr Andrew Davidson Mr John Davidson Mr John Davidson Wemyss Harbour (Assets) Limited true iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure SC395763 2023-03-31 SC395763 2024-03-31 SC395763 2023-04-01 2024-03-31 SC395763 frs-core:CurrentFinancialInstruments 2024-03-31 SC395763 frs-core:Non-currentFinancialInstruments 2024-03-31 SC395763 frs-core:ComputerEquipment 2024-03-31 SC395763 frs-core:ComputerEquipment 2023-04-01 2024-03-31 SC395763 frs-core:ComputerEquipment 2023-03-31 SC395763 frs-core:FurnitureFittings 2023-04-01 2024-03-31 SC395763 frs-core:MotorVehicles 2024-03-31 SC395763 frs-core:MotorVehicles 2023-04-01 2024-03-31 SC395763 frs-core:MotorVehicles 2023-03-31 SC395763 frs-core:OtherResidualIntangibleAssets 2024-03-31 SC395763 frs-core:OtherResidualIntangibleAssets 2023-04-01 2024-03-31 SC395763 frs-core:OtherResidualIntangibleAssets 2023-03-31 SC395763 frs-core:PlantMachinery 2024-03-31 SC395763 frs-core:PlantMachinery 2023-04-01 2024-03-31 SC395763 frs-core:PlantMachinery 2023-03-31 SC395763 frs-core:RevaluationReserve 2023-04-01 2024-03-31 SC395763 frs-core:RevaluationReserve 2023-03-31 SC395763 frs-core:RevaluationReserve 2024-03-31 SC395763 frs-core:ShareCapital 2024-03-31 SC395763 frs-core:RetainedEarningsAccumulatedLosses 2024-03-31 SC395763 frs-bus:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 SC395763 frs-bus:FilletedAccounts 2023-04-01 2024-03-31 SC395763 frs-bus:SmallEntities 2023-04-01 2024-03-31 SC395763 frs-bus:AuditExemptWithAccountantsReport 2023-04-01 2024-03-31 SC395763 frs-bus:SmallCompaniesRegimeForAccounts 2023-04-01 2024-03-31 SC395763 1 2023-04-01 2024-03-31 SC395763 frs-core:CostValuation 2023-03-31 SC395763 frs-core:CostValuation 2024-03-31 SC395763 frs-core:ProvisionsForImpairmentInvestments 2023-03-31 SC395763 frs-core:ProvisionsForImpairmentInvestments 2024-03-31 SC395763 frs-bus:Director1 2023-04-01 2024-03-31 SC395763 frs-bus:Director2 2023-04-01 2024-03-31 SC395763 frs-bus:CompanySecretary1 2023-04-01 2024-03-31 SC395763 frs-core:CurrentFinancialInstruments 1 2024-03-31 SC395763 frs-core:CurrentFinancialInstruments 2 2024-03-31 SC395763 frs-core:CurrentFinancialInstruments 3 2024-03-31 SC395763 frs-countries:Scotland 2023-04-01 2024-03-31 SC395763 2022-03-31 SC395763 2023-03-31 SC395763 2022-04-01 2023-03-31 SC395763 frs-core:CurrentFinancialInstruments 2023-03-31 SC395763 frs-core:Non-currentFinancialInstruments 2023-03-31 SC395763 frs-core:RevaluationReserve 2023-03-31 SC395763 frs-core:ShareCapital 2023-03-31 SC395763 frs-core:RetainedEarningsAccumulatedLosses 2023-03-31 SC395763 frs-core:CurrentFinancialInstruments 1 2023-03-31 SC395763 frs-core:CurrentFinancialInstruments 2 2023-03-31 SC395763 frs-core:CurrentFinancialInstruments 3 2023-03-31
Registered number: SC395763
Robinson Crusoe (Fife) Ltd
Financial Statements
For The Year Ended 31 March 2024
Gillespie's Fife
Contents
Page
Accountants' Report 1
Balance Sheet 2—3
Notes to the Financial Statements 4—6
Page 1
Accountants' Report
Chartered Accountants' report to the directors on the preparation of the unaudited statutory accounts of Robinson Crusoe (Fife) Ltd for the year ended 31 March 2024
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Robinson Crusoe (Fife) Ltd for the year ended 31 March 2024 which comprise the Profit and Loss Account, the Balance Sheet and the related notes from the company's accounting records and from information and explanations you have given to us.
As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at http://www.icaew.com/en/membership/regulations-standards-and-guidance.
This report is made solely to the directors of Robinson Crusoe (Fife) Ltd , as a body, in accordance with the terms of our engagement letter dated 25 February 2015. Our work has been undertaken solely to prepare for your approval the accounts of Robinson Crusoe (Fife) Ltd and state those matters that we have agreed to state to the directors of Robinson Crusoe (Fife) Ltd , as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Robinson Crusoe (Fife) Ltd and its directors, as a body, for our work or for this report.
It is your duty to ensure that Robinson Crusoe (Fife) Ltd has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit or loss of Robinson Crusoe (Fife) Ltd . You consider that Robinson Crusoe (Fife) Ltd is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit of the accounts of Robinson Crusoe (Fife) Ltd . For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the financial statements.
Signed
2nd July 2024
Gillespie's Fife
Accountants
Fric Ajax Way
Methil
Leven
KY8 3RS
Page 1
Page 2
Balance Sheet
Registered number: SC395763
2024 2023
Notes £ £ £ £
FIXED ASSETS
Intangible Assets 4 1,587,623 571,249
Tangible Assets 5 2,366,642 1,827,645
Investments 6 100 100
3,954,365 2,398,994
CURRENT ASSETS
Stocks 7 405,950 534,650
Debtors 8 2,218,814 2,234,291
Cash at bank and in hand 29 28
2,624,793 2,768,969
Creditors: Amounts Falling Due Within One Year 9 (5,068,914 ) (4,776,069 )
NET CURRENT ASSETS (LIABILITIES) (2,444,121 ) (2,007,100 )
TOTAL ASSETS LESS CURRENT LIABILITIES 1,510,244 391,894
Creditors: Amounts Falling Due After More Than One Year 10 (70,515 ) (90,278 )
PROVISIONS FOR LIABILITIES
Deferred Taxation (296,194 ) (296,194 )
NET ASSETS 1,143,535 5,422
CAPITAL AND RESERVES
Called up share capital 11 1 1
Revaluation reserve 12 2,069,806 473,346
Profit and Loss Account (926,272 ) (467,925 )
SHAREHOLDERS' FUNDS 1,143,535 5,422
Page 2
Page 3
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 John Davidson
Director
2nd July 2024
The notes on pages 4 to 6 form part of these financial statements.
Page 3
Page 4
Notes to the Financial Statements
1. General Information
Robinson Crusoe (Fife) Ltd is a private company, limited by shares, incorporated in Scotland, registered number SC395763 . The registered office is 15 Taeping Close, Cellardyke, Anstruther, Fife, KY10 3YL.
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 10% RB
Motor Vehicles 20% RB
Fixtures & Fittings 10% RB
Computer Equipment 20% RB
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.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 3 (2023: 2)
3 2
4. Intangible Assets
Other
£
Cost or Valuation
As at 1 April 2023 892,142
Revaluations 826,621
As at 31 March 2024 1,718,763
...CONTINUED
Page 4
Page 5
Amortisation
As at 1 April 2023 320,893
Provided during the period 18,095
Revaluations (207,848 )
As at 31 March 2024 131,140
Net Book Value
As at 31 March 2024 1,587,623
As at 1 April 2023 571,249
5. Tangible Assets
Plant & Machinery Motor Vehicles Computer Equipment Total
£ £ £ £
Cost or Valuation
As at 1 April 2023 2,895,867 21,000 411,889 3,328,756
Additions 69,900 27,595 28,643 126,138
Revaluation (25,270 ) - - (25,270 )
As at 31 March 2024 2,940,497 48,595 440,532 3,429,624
Depreciation
As at 1 April 2023 1,259,086 14,119 227,906 1,501,111
Provided during the period 99,367 7,239 42,526 149,132
On revaluations (587,261 ) - - (587,261 )
As at 31 March 2024 771,192 21,358 270,432 1,062,982
Net Book Value
As at 31 March 2024 2,169,305 27,237 170,100 2,366,642
As at 1 April 2023 1,636,781 6,881 183,983 1,827,645
6. Investments
Other
£
Cost
As at 1 April 2023 100
As at 31 March 2024 100
Provision
As at 1 April 2023 -
As at 31 March 2024 -
Net Book Value
As at 31 March 2024 100
As at 1 April 2023 100
7. Stocks
2024 2023
£ £
Stock 405,950 534,650
Page 5
Page 6
8. Debtors
2024 2023
£ £
Due within one year
Prepayments and accrued income 3,759 3,310
Fuel duty reclaim 6,794 15,691
Other debtor - Sea Harvest 2,368 2,368
VAT 20,737 20,764
Amounts owed by group undertakings 2,185,156 2,192,158
2,218,814 2,234,291
9. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 95,855 30,557
Bank loans and overdrafts 306,655 247,760
Pension contribution 694 -
Accruals and deferred income 1,865 1,650
Directors' loan accounts 424,120 461,631
Amounts owed to group undertakings 4,239,725 4,034,471
5,068,914 4,776,069
10. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Bank loans 70,515 90,278
11. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 1 1
12. Reserves
Revaluation Reserve
£
As at 1 April 2023 473,346
Surplus on revaluation 1,596,460
As at 31 March 2024 2,069,806
13. Related Party Transactions
Included within debtors is an amount of £2,185,156 due from Robinson Crusoe (Entitlements) Ltd which form part of the group company.
Included within creditors is an amount of £4,239,725 due to Wemyss Harbour (Assets) Ltd which form part of the group company.
14. Ultimate Controlling Party
The company's ultimate controlling party is Wemyss Harbour (Assets) Limited by virtue of his ownership of 100% of the issued share capital in the company.
Page 6