Acorah Software Products - Accounts Production 16.1.300 false true 28 February 2023 1 March 2022 false 1 March 2023 29 February 2024 29 February 2024 SC416429 Mr Paul Smith Mr Stephen Smith iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure SC416429 2023-02-28 SC416429 2024-02-29 SC416429 2023-03-01 2024-02-29 SC416429 frs-core:CurrentFinancialInstruments 2024-02-29 SC416429 frs-core:Non-currentFinancialInstruments 2024-02-29 SC416429 frs-core:ComputerEquipment 2023-03-01 2024-02-29 SC416429 frs-core:FurnitureFittings 2024-02-29 SC416429 frs-core:FurnitureFittings 2023-03-01 2024-02-29 SC416429 frs-core:FurnitureFittings 2023-02-28 SC416429 frs-core:LandBuildings frs-core:LeasedAssetsHeldAsLessee 2023-03-01 2024-02-29 SC416429 frs-core:LandBuildings frs-core:OwnedOrFreeholdAssets 2024-02-29 SC416429 frs-core:LandBuildings frs-core:OwnedOrFreeholdAssets 2023-03-01 2024-02-29 SC416429 frs-core:LandBuildings frs-core:OwnedOrFreeholdAssets 2023-02-28 SC416429 frs-core:MotorVehicles 2023-03-01 2024-02-29 SC416429 frs-core:PlantMachinery 2023-03-01 2024-02-29 SC416429 frs-core:CapitalRedemptionReserve 2024-02-29 SC416429 frs-core:RevaluationReserve 2023-02-28 SC416429 frs-core:RevaluationReserve 2024-02-29 SC416429 frs-core:SharePremium 2024-02-29 SC416429 frs-core:ShareCapital 2024-02-29 SC416429 frs-core:RetainedEarningsAccumulatedLosses 2024-02-29 SC416429 frs-bus:PrivateLimitedCompanyLtd 2023-03-01 2024-02-29 SC416429 frs-bus:FilletedAccounts 2023-03-01 2024-02-29 SC416429 frs-bus:SmallEntities 2023-03-01 2024-02-29 SC416429 frs-bus:AuditExempt-NoAccountantsReport 2023-03-01 2024-02-29 SC416429 frs-bus:SmallCompaniesRegimeForAccounts 2023-03-01 2024-02-29 SC416429 frs-bus:Director1 2023-03-01 2024-02-29 SC416429 frs-bus:Director2 2023-03-01 2024-02-29 SC416429 frs-countries:Scotland 2023-03-01 2024-02-29 SC416429 2022-02-28 SC416429 2023-02-28 SC416429 2022-03-01 2023-02-28 SC416429 frs-core:CurrentFinancialInstruments 2023-02-28 SC416429 frs-core:Non-currentFinancialInstruments 2023-02-28 SC416429 frs-core:CapitalRedemptionReserve 2023-02-28 SC416429 frs-core:RevaluationReserve 2023-02-28 SC416429 frs-core:SharePremium 2023-02-28 SC416429 frs-core:ShareCapital 2023-02-28 SC416429 frs-core:RetainedEarningsAccumulatedLosses 2023-02-28
Registered number: SC416429
City Falkirk Limited
Unaudited Financial Statements
For The Year Ended 29 February 2024
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: SC416429
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 2,479,993 2,544,328
2,479,993 2,544,328
CURRENT ASSETS
Stocks 5 38,338 48,074
Debtors 6 65,551 75,218
Cash at bank and in hand 123,458 78,869
227,347 202,161
Creditors: Amounts Falling Due Within One Year 7 (1,142,991 ) (1,132,430 )
NET CURRENT ASSETS (LIABILITIES) (915,644 ) (930,269 )
TOTAL ASSETS LESS CURRENT LIABILITIES 1,564,349 1,614,059
Creditors: Amounts Falling Due After More Than One Year 8 (820 ) (45,226 )
NET ASSETS 1,563,529 1,568,833
CAPITAL AND RESERVES
Called up share capital 9 100 100
Share premium account 927,177 927,177
Revaluation reserve 10 429,634 429,634
Capital redemption reserve 94 94
Profit and Loss Account 206,524 211,828
SHAREHOLDERS' FUNDS 1,563,529 1,568,833
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 Paul Smith
Director
07/10/2024
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
City Falkirk Limited is a private company, limited by shares, incorporated in Scotland, registered number SC416429 . The registered office is 52-54 King Street , Stirling , FK8 1AY.
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 2%
Leasehold 4%
Plant & Machinery 20%
Motor Vehicles 25%
Fixtures & Fittings 20%
Computer Equipment 20%
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
Average number of employees, including directors, during the year was: 40 (2023: 34)
40 34
4. Tangible Assets
Land & Property
Freehold Fixtures & Fittings Total
£ £ £
Cost
As at 1 March 2023 2,586,487 108,384 2,694,871
Additions - 13,231 13,231
As at 29 February 2024 2,586,487 121,615 2,708,102
...CONTINUED
Page 3
Page 4
Depreciation
As at 1 March 2023 139,053 11,490 150,543
Provided during the period 53,411 24,155 77,566
As at 29 February 2024 192,464 35,645 228,109
Net Book Value
As at 29 February 2024 2,394,023 85,970 2,479,993
As at 1 March 2023 2,447,434 96,894 2,544,328
5. Stocks
2024 2023
£ £
Stock 38,338 48,074
6. Debtors
2024 2023
£ £
Due within one year
Trade debtors 22,898 -
Amounts owed by participating interests - 66,582
Other debtors 42,653 8,636
65,551 75,218
7. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 128,142 71,061
Bank loans and overdrafts 677,306 -
Other loans 5,000 -
Amounts owed to participating interests 116,464 123,913
Other creditors 174,010 892,787
Taxation and social security 42,069 44,669
1,142,991 1,132,430
8. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Bank loans - 45,226
Taxation and social security 820 -
820 45,226
9. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 100 100
Page 4
Page 5
10. Reserves
Revaluation Reserve
£
As at 1 March 2023 429,634
As at 29 February 2024 429,634
11. Related Party Transactions
The balance due to Lochrise Ltd as at the balance sheet date was £13,772 (2023 - £66,582 due to Lochrise Ltd)
The balance due to Endeavour Hospitality Ltd as at the blance sheet date was £79,143 (2023 - £79,143)
The balance due to Fubar Stirling Ltsd as at the balance sheet date was £23,369 (2023 - £23,369)
The balance due to Reynold 123 Ltd as at the balance sheet date was nil (2023 - £21,401)
Page 5