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 SC361081 Mr Raymond McWilliams Mr Craig Ritchie Mr Raymond McWilliams true iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure SC361081 2023-06-30 SC361081 2024-06-30 SC361081 2023-07-01 2024-06-30 SC361081 frs-core:CurrentFinancialInstruments 2024-06-30 SC361081 frs-core:Non-currentFinancialInstruments 2024-06-30 SC361081 frs-core:BetweenOneFiveYears 2024-06-30 SC361081 frs-core:ComputerEquipment 2024-06-30 SC361081 frs-core:ComputerEquipment 2023-07-01 2024-06-30 SC361081 frs-core:ComputerEquipment 2023-06-30 SC361081 frs-core:FurnitureFittings 2024-06-30 SC361081 frs-core:FurnitureFittings 2023-07-01 2024-06-30 SC361081 frs-core:FurnitureFittings 2023-06-30 SC361081 frs-core:MotorVehicles 2024-06-30 SC361081 frs-core:MotorVehicles 2023-07-01 2024-06-30 SC361081 frs-core:MotorVehicles 2023-06-30 SC361081 frs-core:WithinOneYear 2024-06-30 SC361081 frs-core:ShareCapital 2024-06-30 SC361081 frs-core:RetainedEarningsAccumulatedLosses 2024-06-30 SC361081 frs-bus:PrivateLimitedCompanyLtd 2023-07-01 2024-06-30 SC361081 frs-bus:FilletedAccounts 2023-07-01 2024-06-30 SC361081 frs-bus:SmallEntities 2023-07-01 2024-06-30 SC361081 frs-bus:AuditExempt-NoAccountantsReport 2023-07-01 2024-06-30 SC361081 frs-bus:SmallCompaniesRegimeForAccounts 2023-07-01 2024-06-30 SC361081 1 2023-07-01 2024-06-30 SC361081 frs-core:DeferredTaxation 2023-07-01 2024-06-30 SC361081 frs-core:DeferredTaxation 2023-06-30 SC361081 frs-core:DeferredTaxation 2024-06-30 SC361081 frs-core:CostValuation 2023-06-30 SC361081 frs-core:AdditionsToInvestments 2024-06-30 SC361081 frs-core:CostValuation 2024-06-30 SC361081 frs-core:ProvisionsForImpairmentInvestments 2023-06-30 SC361081 frs-core:ProvisionsForImpairmentInvestments 2024-06-30 SC361081 frs-bus:Director1 2023-07-01 2024-06-30 SC361081 frs-bus:Director2 2023-07-01 2024-06-30 SC361081 frs-bus:CompanySecretary1 2023-07-01 2024-06-30 SC361081 frs-core:CurrentFinancialInstruments 1 2024-06-30 SC361081 frs-countries:Scotland 2023-07-01 2024-06-30 SC361081 2022-06-30 SC361081 2023-06-30 SC361081 2022-07-01 2023-06-30 SC361081 frs-core:CurrentFinancialInstruments 2023-06-30 SC361081 frs-core:Non-currentFinancialInstruments 2023-06-30 SC361081 frs-core:BetweenOneFiveYears 2023-06-30 SC361081 frs-core:MotorVehicles 2022-07-01 2023-06-30 SC361081 frs-core:WithinOneYear 2023-06-30 SC361081 frs-core:ShareCapital 2023-06-30 SC361081 frs-core:RetainedEarningsAccumulatedLosses 2023-06-30 SC361081 frs-core:CurrentFinancialInstruments 1 2023-06-30
Registered number: SC361081
Polar Air Conditioning (Scotland) Limited
Unaudited Financial Statements
For The Year Ended 30 June 2024
Paul Blaney
Chartered Accountant
18 Talbot Crescent
Coatbridge
ML5 5GB
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—7
Page 1
Balance Sheet
Registered number: SC361081
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 97,564 128,854
Investments 5 91,800 80,800
189,364 209,654
CURRENT ASSETS
Debtors 6 372,648 355,911
Cash at bank and in hand 25,406 17,301
398,054 373,212
Creditors: Amounts Falling Due Within One Year 7 (387,335 ) (301,272 )
NET CURRENT ASSETS (LIABILITIES) 10,719 71,940
TOTAL ASSETS LESS CURRENT LIABILITIES 200,083 281,594
Creditors: Amounts Falling Due After More Than One Year 8 (80,111 ) (139,293 )
PROVISIONS FOR LIABILITIES
Deferred Taxation 10 (21,093 ) (24,482 )
NET ASSETS 98,879 117,819
CAPITAL AND RESERVES
Called up share capital 12 100 100
Profit and Loss Account 98,779 117,719
SHAREHOLDERS' FUNDS 98,879 117,819
Page 1
Page 2
For the year ending 30 June 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 Raymond McWilliams
Director
Mr Craig Ritchie
Director
20/03/2025
The notes on pages 3 to 7 form part of these financial statements.
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Notes to the Financial Statements
1. General Information
Polar Air Conditioning (Scotland) Limited is a private company, limited by shares, incorporated in Scotland, registered number SC361081 . The registered office is Unit A9 36 Coltness Lane, Queenslie Industrial Estate, Glasgow, G33 4DR.
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:
Motor Vehicles 25% Reducing Balance
Fixtures & Fittings 20% Straight Line
Computer Equipment 25% Straight Line
2.4. Leasing and Hire Purchase Contracts
Assets obtained under finance leases are capitalised as tangible fixed assets. Assets acquired under finance leases are depreciated over the shorter of the lease term and their useful lives. Assets acquired under hire purchase contracts are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in the creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.

Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to profit and loss account as incurred.
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 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.
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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2.6. Pensions
The company operates a defined pension contribution scheme. Contributions are charged to the profit and loss account as they become payable in accordance with the rules of the scheme.
2.7. Registrar Filing Requirements
The company has taken advantage of Companies Act 2006 section 444(1) and opted not to file the profit and loss account, directors report, and notes to the financial statements relating to the profit and loss account.
3. Average Number of Employees
Average number of employees, including directors, during the year was:
2024 2023
Office and administration 3 3
Sales, marketing and distribution 9 10
12 13
4. Tangible Assets
Motor Vehicles Fixtures & Fittings Computer Equipment Total
£ £ £ £
Cost
As at 1 July 2023 289,457 22,278 6,874 318,609
Additions - - 2,281 2,281
As at 30 June 2024 289,457 22,278 9,155 320,890
Depreciation
As at 1 July 2023 171,543 13,919 4,293 189,755
Provided during the period 29,478 2,786 1,307 33,571
As at 30 June 2024 201,021 16,705 5,600 223,326
Net Book Value
As at 30 June 2024 88,436 5,573 3,555 97,564
As at 1 July 2023 117,914 8,359 2,581 128,854
Included above are assets held under finance leases or hire purchase contracts with a net book value as follows:
2024 2023
£ £
Motor Vehicles 81,462 108,616
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Page 5
5. Investments
Other
£
Cost
As at 1 July 2023 80,800
Additions 11,000
As at 30 June 2024 91,800
Provision
As at 1 July 2023 -
As at 30 June 2024 -
Net Book Value
As at 30 June 2024 91,800
As at 1 July 2023 80,800
6. Debtors
2024 2023
£ £
Due within one year
Trade debtors 259,821 243,155
Prepayments and accrued income 11,200 -
Other debtors 32,357 40,135
Other debtors (1) 53,586 53,586
VAT 7,817 10,671
Other taxes and social security 7,867 8,364
372,648 355,911
7. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Net obligations under finance lease and hire purchase contracts 28,147 37,286
Bank loans and overdrafts 9,838 9,838
Corporation tax 16,599 8,537
Fundig Circle 28,750 28,750
Other loans 142,262 144,462
Accruals and deferred income 154,295 68,170
Directors' loan accounts 7,444 4,229
387,335 301,272
8. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Net obligations under finance lease and hire purchase contracts 36,738 64,520
Bank loans 9,831 19,669
Funding Circle 33,542 55,104
80,111 139,293
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9. Obligations Under Finance Leases and Hire Purchase
2024 2023
£ £
The future minimum finance lease payments are as follows:
Not later than one year 28,147 37,286
Later than one year and not later than five years 36,738 64,520
64,885 101,806
64,885 101,806
10. Deferred Taxation
The provision for deferred tax is made up as follows:
2024 2023
£ £
Other timing differences 21,093 24,482
11. Provisions for Liabilities
Deferred Tax Total
£ £
As at 1 July 2023 24,482 24,482
Deferred taxation (3,389 ) (3,389 )
Balance at 30 June 2024 21,093 21,093
12. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 100 100
13. Directors Advances, Credits and Guarantees
Dividends paid to directors
2024 2023
£ £
Mr Raymond McWilliams 24,000 24,000
Mr Craig Ritchie 24,000 24,000
14. Dividends
2024 2023
£ £
On equity shares:
Interim dividend paid 48,000 48,000
15. Related Party Transactions
Included in creditors 
Included in creditors are balances due to the directors, Craig Ritchie and Raymond McWilliams, of £7,406 (2023 - £4,187) and £37 (2023 - £42) respectively.
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16. Ultimate Controlling Party
The company is controlled by the directors, Craig Ritchie and Raymond McWilliams. By virtue of them both owning 50% of the issued share capital in the company.
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