Acorah Software Products - Accounts Production 15.0.500 false true 28 February 2023 1 March 2022 false 1 March 2023 28 February 2024 28 February 2024 SC057784 Ms Janet Headrick iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure SC057784 2023-02-28 SC057784 2024-02-28 SC057784 2023-03-01 2024-02-28 SC057784 frs-core:CurrentFinancialInstruments 2024-02-28 SC057784 frs-core:FurnitureFittings 2024-02-28 SC057784 frs-core:FurnitureFittings 2023-03-01 2024-02-28 SC057784 frs-core:FurnitureFittings 2023-02-28 SC057784 frs-core:RevaluationReserve 2023-02-28 SC057784 frs-core:RevaluationReserve 2024-02-28 SC057784 frs-core:ShareCapital 2024-02-28 SC057784 frs-core:RetainedEarningsAccumulatedLosses 2024-02-28 SC057784 frs-bus:PrivateLimitedCompanyLtd 2023-03-01 2024-02-28 SC057784 frs-bus:FilletedAccounts 2023-03-01 2024-02-28 SC057784 frs-bus:SmallEntities 2023-03-01 2024-02-28 SC057784 frs-bus:AuditExempt-NoAccountantsReport 2023-03-01 2024-02-28 SC057784 frs-bus:SmallCompaniesRegimeForAccounts 2023-03-01 2024-02-28 SC057784 frs-bus:Director1 2023-03-01 2024-02-28 SC057784 frs-countries:Scotland 2023-03-01 2024-02-28 SC057784 2022-02-28 SC057784 2023-02-28 SC057784 2022-03-01 2023-02-28 SC057784 frs-core:CurrentFinancialInstruments 2023-02-28 SC057784 frs-core:RevaluationReserve 2023-02-28 SC057784 frs-core:ShareCapital 2023-02-28 SC057784 frs-core:RetainedEarningsAccumulatedLosses 2023-02-28
Registered number: SC057784
G. & I. Headrick Limited
Unaudited Financial Statements
For The Year Ended 28 February 2024
Christies
Dalgety Bay Business Centre
Sybrig House
Ridge Way
Dalgety Bay
KY11 9JN
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: SC057784
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 3,302 3,885
Investment Properties 5 390,400 390,400
393,702 394,285
CURRENT ASSETS
Debtors 6 5,126 -
Cash at bank and in hand 70,896 74,622
76,022 74,622
Creditors: Amounts Falling Due Within One Year 7 (41,185 ) (37,966 )
NET CURRENT ASSETS (LIABILITIES) 34,837 36,656
TOTAL ASSETS LESS CURRENT LIABILITIES 428,539 430,941
PROVISIONS FOR LIABILITIES
Deferred Taxation (14,669 ) (14,780 )
NET ASSETS 413,870 416,161
CAPITAL AND RESERVES
Called up share capital 8 46,000 46,000
Revaluation reserve 9 45,514 45,514
Profit and Loss Account 322,356 324,647
SHAREHOLDERS' FUNDS 413,870 416,161
Page 1
Page 2
For the year ending 28 February 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges her 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
Ms Janet Headrick
Director
15/10/2024
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
G. & I. Headrick Limited is a private company, limited by shares, incorporated in Scotland, registered number SC057784 . The registered office is Dalgety Bay Business Centre, Sybrig House, Ridge Way, Dalgety Bay, KY11 9JN.
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:
Fixtures & Fittings 15% 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. 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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3. Average Number of Employees
Average number of employees, including directors, during the year was: 1 (2023: 1)
1 1
4. Tangible Assets
Fixtures & Fittings
£
Cost
As at 1 March 2023 11,473
As at 28 February 2024 11,473
Depreciation
As at 1 March 2023 7,588
Provided during the period 583
As at 28 February 2024 8,171
Net Book Value
As at 28 February 2024 3,302
As at 1 March 2023 3,885
Tangible fixed assets with a net book value of £3,962 (2020: £4,661) have been pledged as security in favour of the Bank of Scotland.

Investment property with a net book value of £390,400 (2020: £390,400) have been pledged as security in favour of the Bank of Scotland.
5. Investment Property
2024
£
Fair Value
As at 1 March 2023 and 28 February 2024 390,400
6. Debtors
2024 2023
£ £
Due within one year
Other debtors 5,126 -
7. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Corporation tax 6,611 6,981
Other taxes and social security - 77
Other creditors 17,805 15,988
Accruals and deferred income 467 437
Director's loan account 16,302 14,483
41,185 37,966
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8. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 46,000 46,000
9. Reserves
Revaluation Reserve
£
As at 1 March 2023 45,514
As at 28 February 2024 45,514
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