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 SC520332 Mr Andrew Davidson Mr John Davidson Mr John Davidson Wemyss Harbour (Assets) Ltd Fife Renewables Innovation Centre, Ajax Way, Methil, KY8 3R true iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure SC520332 2023-03-31 SC520332 2024-03-31 SC520332 2023-04-01 2024-03-31 SC520332 frs-core:CurrentFinancialInstruments 2024-03-31 SC520332 frs-core:Non-currentFinancialInstruments 2024-03-31 SC520332 frs-core:BetweenOneFiveYears 2024-03-31 SC520332 frs-core:ComputerEquipment 2024-03-31 SC520332 frs-core:ComputerEquipment 2023-04-01 2024-03-31 SC520332 frs-core:ComputerEquipment 2023-03-31 SC520332 frs-core:MotorVehicles 2024-03-31 SC520332 frs-core:MotorVehicles 2023-04-01 2024-03-31 SC520332 frs-core:MotorVehicles 2023-03-31 SC520332 frs-core:WithinOneYear 2024-03-31 SC520332 frs-core:ShareCapital 2024-03-31 SC520332 frs-core:RetainedEarningsAccumulatedLosses 2024-03-31 SC520332 frs-bus:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 SC520332 frs-bus:FilletedAccounts 2023-04-01 2024-03-31 SC520332 frs-bus:SmallEntities 2023-04-01 2024-03-31 SC520332 frs-bus:AuditExemptWithAccountantsReport 2023-04-01 2024-03-31 SC520332 frs-bus:SmallCompaniesRegimeForAccounts 2023-04-01 2024-03-31 SC520332 1 2023-04-01 2024-03-31 SC520332 frs-bus:Director1 2023-04-01 2024-03-31 SC520332 frs-bus:Director2 2023-04-01 2024-03-31 SC520332 frs-bus:CompanySecretary1 2023-04-01 2024-03-31 SC520332 frs-countries:Scotland 2023-04-01 2024-03-31 SC520332 2022-03-31 SC520332 2023-03-31 SC520332 2022-04-01 2023-03-31 SC520332 frs-core:CurrentFinancialInstruments 2023-03-31 SC520332 frs-core:Non-currentFinancialInstruments 2023-03-31 SC520332 frs-core:BetweenOneFiveYears 2023-03-31 SC520332 frs-core:WithinOneYear 2023-03-31 SC520332 frs-core:ShareCapital 2023-03-31 SC520332 frs-core:RetainedEarningsAccumulatedLosses 2023-03-31
Registered number: SC520332
Robinson Crusoe (Entitlements) Limited
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—7
Page 1
Accountants' Report
Chartered Accountants' report to the directors on the preparation of the unaudited statutory accounts of Robinson Crusoe (Entitlements) Limited 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 (Entitlements) Limited 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 (Entitlements) Limited , as a body, in accordance with the terms of our engagement letter dated 16 November 2015. Our work has been undertaken solely to prepare for your approval the accounts of Robinson Crusoe (Entitlements) Limited and state those matters that we have agreed to state to the directors of Robinson Crusoe (Entitlements) Limited , 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 (Entitlements) Limited and its directors, as a body, for our work or for this report.
It is your duty to ensure that Robinson Crusoe (Entitlements) Limited 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 (Entitlements) Limited . You consider that Robinson Crusoe (Entitlements) Limited 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 (Entitlements) Limited . 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: SC520332
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 32,734 43,645
32,734 43,645
CURRENT ASSETS
Stocks 5 1,196,344 1,419,425
Debtors 6 1,168,433 1,136,191
Cash at bank and in hand 23,662 22,219
2,388,439 2,577,835
Creditors: Amounts Falling Due Within One Year 7 (2,291,779 ) (2,361,156 )
NET CURRENT ASSETS (LIABILITIES) 96,660 216,679
TOTAL ASSETS LESS CURRENT LIABILITIES 129,394 260,324
Creditors: Amounts Falling Due After More Than One Year 8 (37,144 ) (133,880 )
PROVISIONS FOR LIABILITIES
Deferred Taxation (6,219 ) (53 )
NET ASSETS 86,031 126,391
CAPITAL AND RESERVES
Called up share capital 10 100 100
Profit and Loss Account 85,931 126,291
SHAREHOLDERS' FUNDS 86,031 126,391
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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 John Davidson
Director
2nd July 2024
The notes on pages 4 to 7 form part of these financial statements.
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Notes to the Financial Statements
1. General Information
Robinson Crusoe (Entitlements) Limited is a private company, limited by shares, incorporated in Scotland, registered number SC520332 . The registered office is Fric Ajax Way, Methil, Leven, KY8 3RS.
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:
Motor Vehicles 25% RB
Computer Equipment 33% SL
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
Corporation 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: 2 (2023: 2)
2 2
4. Tangible Assets
Motor Vehicles Computer Equipment Total
£ £ £
Cost
As at 1 April 2023 77,595 974 78,569
As at 31 March 2024 77,595 974 78,569
Depreciation
As at 1 April 2023 33,950 974 34,924
Provided during the period 10,911 - 10,911
As at 31 March 2024 44,861 974 45,835
Net Book Value
As at 31 March 2024 32,734 - 32,734
As at 1 April 2023 43,645 - 43,645
5. Stocks
2024 2023
£ £
Finished goods 1,196,344 1,419,425
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6. Debtors
2024 2023
£ £
Due within one year
Trade debtors 21,900 -
Prepayments and accrued income 1,000 1,000
Directors' loan accounts 639 640
Amounts owed by group undertakings 1,144,894 1,134,551
1,168,433 1,136,191
7. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Net obligations under finance lease and hire purchase contracts 8,600 11,399
Trade creditors 47 -
Bank loans and overdrafts 84,123 85,000
Corporation tax 142 142
VAT 12,446 71,308
Accruals and deferred income 1,265 1,150
Amounts owed to group undertakings 2,185,156 2,192,157
2,291,779 2,361,156
8. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Net obligations under finance lease and hire purchase contracts 24,644 33,244
Bank loans 12,500 100,636
37,144 133,880
9. Obligations Under Finance Leases and Hire Purchase
2024 2023
£ £
The future minimum finance lease payments are as follows:
Not later than one year 8,600 11,399
Later than one year and not later than five years 24,644 33,244
33,244 44,643
33,244 44,643
10. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 100 100
11. Related Party Transactions
Included within debtors is an amount of £1,144,894 due from holding company Wemyss Harbour (Assets) Ltd.
Included with creditors is an amount of £2,185,156 due to Robinson Crusoe (Fife) Ltd which is part of the group.
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12. Ultimate Parent Undertaking and Controlling Party
The company's immediate and ultimate parent undertaking is Wemyss Harbour Assets Ltd . Wemyss Harbour Assets Ltd was incorporated in Scotland. Copies of the group accounts may be obtained from the secretary, Fife Renewables Innovation Centre, Ajax Way, Methil, KY8 3R . The ultimate controlling party is Wemyss Harbour (Assets) Ltd who controls 100% of the shares of Robinson Crusoe (Entitlements) Limited .
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