Acorah Software Products - Accounts Production 16.1.300 false true 30 June 2023 1 July 2022 false 1 July 2023 30 June 2024 30 June 2024 SO301939 Mr James Norval Mrs Fiona Norval iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure SO301939 2023-06-30 SO301939 2024-06-30 SO301939 2023-07-01 2024-06-30 SO301939 frs-core:LandBuildings frs-core:OwnedOrFreeholdAssets 2023-07-01 2024-06-30 SO301939 frs-core:MotorVehicles 2023-07-01 2024-06-30 SO301939 frs-core:PlantMachinery 2023-07-01 2024-06-30 SO301939 frs-bus:LimitedLiabilityPartnershipLLP 2023-07-01 2024-06-30 SO301939 frs-bus:LimitedLiabilityPartnershipsSORP 2023-07-01 2024-06-30 SO301939 frs-bus:AbridgedAccounts 2023-07-01 2024-06-30 SO301939 frs-bus:SmallEntities 2023-07-01 2024-06-30 SO301939 frs-bus:AuditExempt-NoAccountantsReport 2023-07-01 2024-06-30 SO301939 frs-bus:SmallCompaniesRegimeForAccounts 2023-07-01 2024-06-30 SO301939 frs-core:CostValuation 2023-06-30 SO301939 frs-core:CostValuation 2024-06-30 SO301939 frs-countries:Scotland 2023-07-01 2024-06-30 SO301939 frs-bus:PartnerLLP1 2023-07-01 2024-06-30 SO301939 frs-bus:PartnerLLP2 2023-07-01 2024-06-30 SO301939 2022-06-30 SO301939 2023-06-30 SO301939 2022-07-01 2023-06-30
NORVAL CONTRACTING LLP
Unaudited ABRIDGED Financial Statements
For The Year Ended 30 June 2024
Contents
Page
Abridged Balance Sheet 1—2
Notes to the Abridged Financial Statements 3—4
Page 1
Abridged Balance Sheet
Registered number: SO301939
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 33,862 39,523
Investments 5 47,859 47,859
81,721 87,382
CURRENT ASSETS
Debtors 14,498 23,347
Cash at bank and in hand 11,148 45,990
25,646 69,337
Creditors: Amounts Falling Due Within One Year (5,978 ) (5,983 )
NET CURRENT ASSETS (LIABILITIES) 19,668 63,354
TOTAL ASSETS LESS CURRENT LIABILITIES 101,389 150,736
NET ASSETS ATTRIBUTABLE TO MEMBERS 101,389 150,736
REPRESENTED BY:
Loans and other debts due to members within one year
Members' capital classified as a liability 101,389 90,089
Other amounts - 60,647
101,389 150,736
101,389 150,736
TOTAL MEMBERS' INTEREST
Loans and other debts due to members within one year 101,389 150,736
101,389 150,736
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Page 2
For the year ending 30 June 2024 the LLP was entitled to exemption from audit under section 477 of the Companies Act 2006 (as applied by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008 applicable to LLPs subject to the small LLPs regime.)
The members acknowledge their responsibilities for complying with the requirements of the Act (as applied to LLPs) with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to LLPs subject to the small LLPs regime.
The LLP has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the LLP's Profit and Loss Account.
All of the LLP's members have consented to the preparation of an Abridged Balance Sheet for the year end 30 June 2024 in accordance with section 444(2A) of the Companies Act 2006.
On behalf of the members
Mr James Norval
Designated Member
Mrs Fiona Norval
Designated Member
17th December 2024
The notes on pages 3 to 4 form part of these financial statements.
Page 2
Page 3
Notes to the Abridged Financial Statements
1. General Information
NORVAL CONTRACTING LLP is a limited liability partnership, incorporated in Scotland, registered number SO301939 . The Registered Office is Valhalla, Linmill, Clackmannan, Clackmannanshire, FK10 3PY.
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 applicable United Kingdom accounting standards, including Financial Reporting Standard 102 for small limited liability partnerships regime - The Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102), The Statement of Recommended Practice 'Accounting by Limited Liability Partnerships' issued in December 2021 (SORP) and the Companies Act 2006 (as applied to LLPs).
The financial statements are prepared in sterling which is the functional currency of the LLP.
2.2. Turnover
Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.
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 Depreciated
Plant & Machinery 20% Reducing Balance
Motor Vehicles 20% Reducing Balance
Impairment of Fixed Assets

At each reporting period end date, the company reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs. Recoverable amount is the higher of fair value less costs to sell and value in use. In assessing value in use, the estimated future cash flows are discounted to their present value using a pre-tax discount rate that reflects current market assessments of the time value of money and the risks specific to the asset for which the estimates of future cash flows have not been adjusted. If the recoverable amount of an asset (or cash-generating unit) is estimated to be less than its carrying amount, the carrying amount of the asset (or cash-generating unit) is reduced to its recoverable amount. An impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the impairment loss is treated as a revaluation decrease. Recognised impairment losses are reversed if, and only if, the reasons for the impairment loss have ceased to apply. Where an impairment loss subsequently reverses, the carrying amount of the asset (or cash-generating unit) is increased to the revised estimate of its recoverable amount, but so that the increased carrying amount does not exceed the carrying amount that would have been determined had no impairment loss been recognised for the asset (or cash-generating unit) in prior years. A reversal of an impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the reversal of the impairment loss is treated as a revaluation increase.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 2 (2023: 2)
2 2
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4. Tangible Assets
Total
£
Cost
As at 1 July 2023 118,270
As at 30 June 2024 118,270
Depreciation
As at 1 July 2023 78,747
Provided during the period 5,661
As at 30 June 2024 84,408
Net Book Value
As at 30 June 2024 33,862
As at 1 July 2023 39,523
5. Investments
Total
£
Cost
As at 1 July 2023 47,859
As at 30 June 2024 47,859
Provision
As at 1 July 2023 -
As at 30 June 2024 -
Net Book Value
As at 30 June 2024 47,859
As at 1 July 2023 47,859
Page 4