Acorah Software Products - Accounts Production 16.0.110 false true 28 February 2023 1 March 2022 false 1 March 2023 29 February 2024 29 February 2024 SC273934 Mr Patrick Gillooly Ms Lori Clark Ms Lori Clark iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure SC273934 frs-core:Non-currentFinancialInstruments frs-core:MoreThanFiveYears 2024-02-29 SC273934 2023-02-28 SC273934 2024-02-29 SC273934 2023-03-01 2024-02-29 SC273934 frs-core:CurrentFinancialInstruments 2024-02-29 SC273934 frs-core:Non-currentFinancialInstruments 2024-02-29 SC273934 frs-core:LandBuildings frs-core:OwnedOrFreeholdAssets 2024-02-29 SC273934 frs-core:LandBuildings frs-core:OwnedOrFreeholdAssets 2023-03-01 2024-02-29 SC273934 frs-core:LandBuildings frs-core:OwnedOrFreeholdAssets 2023-02-28 SC273934 frs-core:PlantMachinery 2024-02-29 SC273934 frs-core:PlantMachinery 2023-03-01 2024-02-29 SC273934 frs-core:PlantMachinery 2023-02-28 SC273934 frs-core:CapitalRedemptionReserve 2024-02-29 SC273934 frs-core:SharePremium 2024-02-29 SC273934 frs-core:ShareCapital 2024-02-29 SC273934 frs-core:RetainedEarningsAccumulatedLosses 2024-02-29 SC273934 frs-bus:PrivateLimitedCompanyLtd 2023-03-01 2024-02-29 SC273934 frs-bus:FilletedAccounts 2023-03-01 2024-02-29 SC273934 frs-bus:SmallEntities 2023-03-01 2024-02-29 SC273934 frs-bus:AuditExempt-NoAccountantsReport 2023-03-01 2024-02-29 SC273934 frs-bus:SmallCompaniesRegimeForAccounts 2023-03-01 2024-02-29 SC273934 frs-bus:Director1 2023-03-01 2024-02-29 SC273934 frs-bus:Director2 2023-03-01 2024-02-29 SC273934 frs-bus:CompanySecretary1 2023-03-01 2024-02-29 SC273934 frs-core:CurrentFinancialInstruments 1 2024-02-29 SC273934 frs-core:Non-currentFinancialInstruments 2 2024-02-29 SC273934 frs-core:Non-currentFinancialInstruments 3 2024-02-29 SC273934 frs-countries:Scotland 2023-03-01 2024-02-29 SC273934 frs-core:Non-currentFinancialInstruments frs-core:MoreThanFiveYears 2023-02-28 SC273934 2022-02-28 SC273934 2023-02-28 SC273934 2022-03-01 2023-02-28 SC273934 frs-core:CurrentFinancialInstruments 2023-02-28 SC273934 frs-core:Non-currentFinancialInstruments 2023-02-28 SC273934 frs-core:CapitalRedemptionReserve 2023-02-28 SC273934 frs-core:SharePremium 2023-02-28 SC273934 frs-core:ShareCapital 2023-02-28 SC273934 frs-core:RetainedEarningsAccumulatedLosses 2023-02-28 SC273934 frs-core:CurrentFinancialInstruments 1 2023-02-28 SC273934 frs-core:Non-currentFinancialInstruments 2 2023-02-28 SC273934 frs-core:Non-currentFinancialInstruments 3 2023-02-28
Registered number: SC273934
Newhouse Investments Ltd.
Unaudited Financial Statements
For The Year Ended 29 February 2024
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—6
Page 1
Balance Sheet
Registered number: SC273934
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 1,100,037 1,100,041
1,100,037 1,100,041
CURRENT ASSETS
Debtors 5 12,011 46,011
Cash at bank and in hand 5,824 5,462
17,835 51,473
Creditors: Amounts Falling Due Within One Year 6 (576,333 ) (525,255 )
NET CURRENT ASSETS (LIABILITIES) (558,498 ) (473,782 )
TOTAL ASSETS LESS CURRENT LIABILITIES 541,539 626,259
Creditors: Amounts Falling Due After More Than One Year 7 (407,802 ) (468,313 )
NET ASSETS 133,737 157,946
CAPITAL AND RESERVES
Called up share capital 9 90 100
Share premium account 169,980 169,980
Capital redemption reserve 10 -
Profit and Loss Account (36,343 ) (12,134 )
SHAREHOLDERS' FUNDS 133,737 157,946
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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 Patrick Gillooly
Director
Ms Lori Clark
Director
25/11/2024
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
Newhouse Investments Ltd. is a private company, limited by shares, incorporated in Scotland, registered number SC273934 . The registered office is Office 1, The Old Nursery, Motherwell Road, Newhouse, Lanarkshire, ML1 5ST.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements are prepared under the historical cost convention and in accordance with the FRS 102 Section 1A
Small Entities - The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.
The financial statements have been prepared on the going concern basis which assumes that the company will continue in operational existence in the forseeable future. The validity of this assumption depends on the continued support of the company's bankers, finance providers and directors for the forthcoming year.
Current liabilities include loans due to the director and related parties, these are repayable on demand. Neither the director nor the related parties will demand repayment of the loan due where this would impair the ability of the company to trade.
The directors believe that it is appropriate for the going concern basis to be used.
2.2. Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales tax.
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 not provided
Plant & Machinery 10% on reducing balance
2.4. Investment Properties
All investment properties are carried at fair value determined annually and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided for. Changes in fair value are recognised in the profit and loss account.
2.5. Financial Instruments
The company only has basic financial instruments.

Short term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

Short term trade creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised costs using the effective interest method.
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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: 2 (2023: 2)
2 2
4. Tangible Assets
Land & Property
Freehold Plant & Machinery Total
£ £ £
Cost
As at 1 March 2023 1,100,000 300 1,100,300
As at 29 February 2024 1,100,000 300 1,100,300
Depreciation
As at 1 March 2023 - 259 259
Provided during the period - 4 4
As at 29 February 2024 - 263 263
Net Book Value
As at 29 February 2024 1,100,000 37 1,100,037
As at 1 March 2023 1,100,000 41 1,100,041
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Cost or valuation as at 29 February 2024 represented by:
Land & Property
Freehold Plant & Machinery Total
£ £ £
At cost - 300 300
At valuation 1,100,000 - 1,100,000
1,100,000 300 1,100,300
If freehold land and buildings had not been revalued they would have been included at the following historical costs: 
2024 - Cost: £1,336,576, Aggregate Depreciation: £380,215
Freehold land and buildings were subsequently values on an open market basis by the director, P Gillooly, at £1,100,000 on 29 February 2024.
5. Debtors
2024 2023
£ £
Due within one year
Trade debtors 11,011 11,011
Prepayments and accrued income - 34,000
Other debtors 1,000 1,000
12,011 46,011
6. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 6,569 5,972
Bank loans and overdrafts 77,487 77,487
Corporation tax 10,477 28,131
Other creditors 7,500 -
Other loans 471,147 402,857
Directors' loan accounts 3,153 10,808
576,333 525,255
7. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Bank loan 1-2 years 77,487 77,487
Bank loans 2-5 years 206,574 216,486
Bank loans > 5 years 123,741 174,340
407,802 468,313
Of the creditors falling due after more than one year the following amounts are due after more than five years.
2024 2023
£ £
Bank loans 123,741 174,340
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8. Secured Creditors
Of the creditors falling due within and after more than one year the following amounts are secured.
TSB Bank plc hold a bond and floating charge and standard security over all the assets of the company including land and buildings located at Motherwell Road, Newhouse.
2024 2023
£ £
Bank loans and overdrafts 485,288 545,800
9. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 90 100
10. Related Party Transactions
K&T Plant Hire Ltd, KMP (Scotland) Ltd, KMM (Scotland) Ltd and Inland Engineering Services Ltd were related parties during the year by virtue of being under common control.
During the year the company borrowed £65,300 from K&T Plant Hire Ltd, the balance due to the related party at the year-end was £318,117 (2023: £252,817).
During the year the company borrowed £510 from KMP (Scotland) Ltd, the balance due to the related party at the year-end was £39,075 (2023: £38,565).
During the year the company borrowed £2,480 from Inland Engineering Services Ltd, the balance due to the related party at the year-end was £110,518 (2023: £108,038).
During the year the company borrowed NIL from KMM (Scotland) Ltd, the balance due to the related party at the year-end was £3,437 (2023: £3,437).
All loan to related parties are non-interest bearing and repayable on demand.
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