Acorah Software Products - Accounts Production 16.1.300 false true 31 August 2023 1 September 2022 false 1 September 2023 31 August 2024 31 August 2024 SC527210 Mr Patrick MacDonald Patrick Jack MacDonald true iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure SC527210 2023-08-31 SC527210 2024-08-31 SC527210 2023-09-01 2024-08-31 SC527210 frs-core:CurrentFinancialInstruments 2024-08-31 SC527210 frs-core:ComputerEquipment 2024-08-31 SC527210 frs-core:ComputerEquipment 2023-09-01 2024-08-31 SC527210 frs-core:ComputerEquipment 2023-08-31 SC527210 frs-core:FurnitureFittings 2024-08-31 SC527210 frs-core:FurnitureFittings 2023-09-01 2024-08-31 SC527210 frs-core:FurnitureFittings 2023-08-31 SC527210 frs-core:LandBuildings frs-core:LeasedAssetsHeldAsLessee 2024-08-31 SC527210 frs-core:LandBuildings frs-core:LeasedAssetsHeldAsLessee 2023-09-01 2024-08-31 SC527210 frs-core:LandBuildings frs-core:LeasedAssetsHeldAsLessee 2023-08-31 SC527210 frs-core:MotorVehicles 2024-08-31 SC527210 frs-core:MotorVehicles 2023-09-01 2024-08-31 SC527210 frs-core:MotorVehicles 2023-08-31 SC527210 frs-core:PlantMachinery 2024-08-31 SC527210 frs-core:PlantMachinery 2023-09-01 2024-08-31 SC527210 frs-core:PlantMachinery 2023-08-31 SC527210 frs-core:ShareCapital 2024-08-31 SC527210 frs-core:RetainedEarningsAccumulatedLosses 2024-08-31 SC527210 frs-bus:PrivateLimitedCompanyLtd 2023-09-01 2024-08-31 SC527210 frs-bus:FilletedAccounts 2023-09-01 2024-08-31 SC527210 frs-bus:SmallEntities 2023-09-01 2024-08-31 SC527210 frs-bus:AuditExempt-NoAccountantsReport 2023-09-01 2024-08-31 SC527210 frs-bus:SmallCompaniesRegimeForAccounts 2023-09-01 2024-08-31 SC527210 1 2023-09-01 2024-08-31 SC527210 frs-bus:Director1 2023-09-01 2024-08-31 SC527210 1 2023-09-01 2024-08-31 SC527210 frs-countries:Scotland 2023-09-01 2024-08-31 SC527210 2022-08-31 SC527210 2023-08-31 SC527210 2022-09-01 2023-08-31 SC527210 frs-core:CurrentFinancialInstruments 2023-08-31 SC527210 frs-core:ShareCapital 2023-08-31 SC527210 frs-core:RetainedEarningsAccumulatedLosses 2023-08-31 SC527210 1 2022-09-01 2023-08-31
Registered number: SC527210
Left Field Kombucha Ltd
Financial Statements
For The Year Ended 31 August 2024
Gillespie's
Chartered Accountants
33 Leslie Street
Blairgowrie
Perthshire
PH10 6AW
Financial Statements
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: SC527210
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 34,035 36,826
34,035 36,826
CURRENT ASSETS
Stocks 5 5,908 19,974
Debtors 6 35,052 23,322
Cash at bank and in hand 72,202 12,618
113,162 55,914
Creditors: Amounts Falling Due Within One Year 7 (53,349 ) (28,382 )
NET CURRENT ASSETS (LIABILITIES) 59,813 27,532
TOTAL ASSETS LESS CURRENT LIABILITIES 93,848 64,358
PROVISIONS FOR LIABILITIES
Deferred Taxation (8,509 ) (7,125 )
NET ASSETS 85,339 57,233
CAPITAL AND RESERVES
Called up share capital 8 2 2
Profit and Loss Account 85,337 57,231
SHAREHOLDERS' FUNDS 85,339 57,233
Page 1
Page 2
For the year ending 31 August 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 his 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 MacDonald
Director
28th January 2025
The notes on pages 3 to 5 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Left Field Kombucha Ltd is a private company, limited by shares, incorporated in Scotland, registered number SC527210 . The registered office is 16 Nasmyth Court, Houstoun Industrial Estate, Livingston, West Lothian, EH54 5EG.
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:
Leasehold 25% reducing balance
Plant & Machinery 12.5% reducing balance
Motor Vehicles 25% reducing balance
Fixtures & Fittings 15% reducing balance
Computer Equipment 20% 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.
2.5. 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 year 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 asset reflects 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.
...CONTINUED
Page 3
Page 4
2.5. Taxation - continued
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:
2024 2023
Sales, marketing and distribution 2 2
Directors 1 1
3 3
4. Tangible Assets
Land & Property
Leasehold Plant & Machinery Motor Vehicles Fixtures & Fittings
£ £ £ £
Cost
As at 1 September 2023 35,868 23,409 19,000 841
Additions - - 15,695 -
Disposals - - (19,000 ) -
As at 31 August 2024 35,868 23,409 15,695 841
Depreciation
As at 1 September 2023 16,305 15,341 10,276 370
Provided during the period 4,891 2,017 3,924 71
Disposals - - (10,276 ) -
As at 31 August 2024 21,196 17,358 3,924 441
Net Book Value
As at 31 August 2024 14,672 6,051 11,771 400
As at 1 September 2023 19,563 8,068 8,724 471
Computer Equipment Total
£ £
Cost
As at 1 September 2023 - 79,118
Additions 1,426 17,121
Disposals - (19,000 )
As at 31 August 2024 1,426 77,239
Depreciation
As at 1 September 2023 - 42,292
Provided during the period 285 11,188
Disposals - (10,276 )
As at 31 August 2024 285 43,204
...CONTINUED
Page 4
Page 5
Net Book Value
As at 31 August 2024 1,141 34,035
As at 1 September 2023 - 36,826
5. Stocks
2024 2023
£ £
Stock 5,908 19,974
6. Debtors
2024 2023
£ £
Due within one year
Trade debtors 11,033 5,473
Prepayments and accrued income 16,965 13,093
Other debtors 11 -
VAT 7,043 4,756
35,052 23,322
7. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 28,407 12,138
Corporation tax 13,747 4,021
Other taxes and social security 419 1,166
Other creditors 254 357
Director's loan account 10,522 10,700
53,349 28,382
8. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 2 2
9. Ultimate Controlling Party
The company's ultimate controlling party is Patrick Jack MacDonald by virtue of his ownership of 100% of the issued share capital in the company.
Page 5