Acorah Software Products - Accounts Production 15.0.400 false true 28 February 2023 1 March 2022 false 1 March 2023 29 February 2024 29 February 2024 SC103282 Mr William Hopton Mrs Dorothy Hopton Mr Colin Thomson iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure SC103282 2023-02-28 SC103282 2024-02-29 SC103282 2023-03-01 2024-02-29 SC103282 frs-core:CurrentFinancialInstruments 2024-02-29 SC103282 frs-core:Non-currentFinancialInstruments 2024-02-29 SC103282 frs-core:ComputerEquipment 2024-02-29 SC103282 frs-core:ComputerEquipment 2023-03-01 2024-02-29 SC103282 frs-core:ComputerEquipment 2023-02-28 SC103282 frs-core:LandBuildings frs-core:LeasedAssetsHeldAsLessee 2023-03-01 2024-02-29 SC103282 frs-core:LandBuildings frs-core:OwnedOrFreeholdAssets 2023-03-01 2024-02-29 SC103282 frs-core:MotorVehicles 2024-02-29 SC103282 frs-core:MotorVehicles 2023-03-01 2024-02-29 SC103282 frs-core:MotorVehicles 2023-02-28 SC103282 frs-core:PlantMachinery 2024-02-29 SC103282 frs-core:PlantMachinery 2023-03-01 2024-02-29 SC103282 frs-core:PlantMachinery 2023-02-28 SC103282 frs-core:CapitalRedemptionReserve 2024-02-29 SC103282 frs-core:ShareCapital 2024-02-29 SC103282 frs-core:RetainedEarningsAccumulatedLosses 2024-02-29 SC103282 frs-bus:PrivateLimitedCompanyLtd 2023-03-01 2024-02-29 SC103282 frs-bus:FilletedAccounts 2023-03-01 2024-02-29 SC103282 frs-bus:SmallEntities 2023-03-01 2024-02-29 SC103282 frs-bus:AuditExempt-NoAccountantsReport 2023-03-01 2024-02-29 SC103282 frs-bus:SmallCompaniesRegimeForAccounts 2023-03-01 2024-02-29 SC103282 frs-bus:Director1 2023-03-01 2024-02-29 SC103282 frs-bus:Director2 2023-03-01 2024-02-29 SC103282 frs-bus:Director3 2023-03-01 2024-02-29 SC103282 frs-countries:Scotland 2023-03-01 2024-02-29 SC103282 2022-02-28 SC103282 2023-02-28 SC103282 2022-03-01 2023-02-28 SC103282 frs-core:CurrentFinancialInstruments 2023-02-28 SC103282 frs-core:Non-currentFinancialInstruments 2023-02-28 SC103282 frs-core:CapitalRedemptionReserve 2023-02-28 SC103282 frs-core:ShareCapital 2023-02-28 SC103282 frs-core:RetainedEarningsAccumulatedLosses 2023-02-28
Registered number: SC103282
Vent Systems Limited
Unaudited Financial Statements
For The Year Ended 29 February 2024
Colin Thomson & Co
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—4
Page 1
Balance Sheet
Registered number: SC103282
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 5,263 24,964
5,263 24,964
CURRENT ASSETS
Stocks 5 130,000 153,839
Debtors 6 29,385 27,940
Cash at bank and in hand 33,066 19,026
192,451 200,805
Creditors: Amounts Falling Due Within One Year 7 (109,473 ) (105,759 )
NET CURRENT ASSETS (LIABILITIES) 82,978 95,046
TOTAL ASSETS LESS CURRENT LIABILITIES 88,241 120,010
Creditors: Amounts Falling Due After More Than One Year 8 (26,502 ) (56,848 )
NET ASSETS 61,739 63,162
CAPITAL AND RESERVES
Called up share capital 9 2,020 2,020
Capital redemption reserve (184,000 ) (184,000 )
Profit and Loss Account 243,719 245,142
SHAREHOLDERS' FUNDS 61,739 63,162
Page 1
Page 2
For the year ending 29 February 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 William Hopton
Director
25/10/2024
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
Vent Systems Limited is a private company, limited by shares, incorporated in Scotland, registered number SC103282 . The registered office is Unit 16, Strathore Business Park, Southend, Thornton, Fife, KY1 4EH.
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:
Freehold Nil
Leasehold Nil
Plant & Machinery 15% reducing balance
Motor Vehicles 25% reducing balance
Computer Equipment 25% 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.
3. Average Number of Employees
5Average number of employees, including directors, during the year was: 5 (2023: 6)
5 6
4. Tangible Assets
Plant & Machinery Motor Vehicles Computer Equipment Total
£ £ £ £
Cost
As at 1 March 2023 13,095 22,497 546 36,138
Disposals - (22,498 ) - (22,498 )
As at 29 February 2024 13,095 (1 ) 546 13,640
...CONTINUED
Page 3
Page 4
Depreciation
As at 1 March 2023 7,053 3,744 377 11,174
Provided during the period 906 1,562 42 2,510
Disposals - (5,307 ) - (5,307 )
As at 29 February 2024 7,959 (1 ) 419 8,377
Net Book Value
As at 29 February 2024 5,136 - 127 5,263
As at 1 March 2023 6,042 18,753 169 24,964
5. Stocks
2024 2023
£ £
Stock 130,000 153,839
6. Debtors
2024 2023
£ £
Due within one year
Trade debtors 29,385 27,470
Other debtors - 470
29,385 27,940
7. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 1,799 2,913
Other creditors 96,957 96,755
Taxation and social security 10,717 6,091
109,473 105,759
8. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Bank loans 26,502 36,320
Other creditors - 20,528
26,502 56,848
9. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 2,020 2,020
Page 4