Acorah Software Products - Accounts Production 16.2.800 false true 30 June 2023 1 July 2022 false 1 July 2023 30 June 2024 30 June 2024 SC448493 Mr G O'BOYLE iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure SC448493 2023-06-30 SC448493 2024-06-30 SC448493 2023-07-01 2024-06-30 SC448493 frs-core:CurrentFinancialInstruments 2024-06-30 SC448493 frs-core:Non-currentFinancialInstruments 2024-06-30 SC448493 frs-core:BetweenOneFiveYears 2024-06-30 SC448493 frs-core:FurnitureFittings 2024-06-30 SC448493 frs-core:FurnitureFittings 2023-07-01 2024-06-30 SC448493 frs-core:FurnitureFittings 2023-06-30 SC448493 frs-core:LandBuildings frs-core:OwnedOrFreeholdAssets 2024-06-30 SC448493 frs-core:LandBuildings frs-core:OwnedOrFreeholdAssets 2023-07-01 2024-06-30 SC448493 frs-core:LandBuildings frs-core:OwnedOrFreeholdAssets 2023-06-30 SC448493 frs-core:MotorVehicles 2024-06-30 SC448493 frs-core:MotorVehicles 2023-07-01 2024-06-30 SC448493 frs-core:MotorVehicles 2023-06-30 SC448493 frs-core:PlantMachinery 2024-06-30 SC448493 frs-core:PlantMachinery 2023-07-01 2024-06-30 SC448493 frs-core:PlantMachinery 2023-06-30 SC448493 frs-core:WithinOneYear 2024-06-30 SC448493 frs-core:ShareCapital 2024-06-30 SC448493 frs-core:RetainedEarningsAccumulatedLosses 2024-06-30 SC448493 frs-bus:PrivateLimitedCompanyLtd 2023-07-01 2024-06-30 SC448493 frs-bus:FilletedAccounts 2023-07-01 2024-06-30 SC448493 frs-bus:SmallEntities 2023-07-01 2024-06-30 SC448493 frs-bus:AuditExempt-NoAccountantsReport 2023-07-01 2024-06-30 SC448493 frs-bus:SmallCompaniesRegimeForAccounts 2023-07-01 2024-06-30 SC448493 frs-bus:Director1 2023-07-01 2024-06-30 SC448493 frs-countries:Scotland 2023-07-01 2024-06-30 SC448493 2022-06-30 SC448493 2023-06-30 SC448493 2022-07-01 2023-06-30 SC448493 frs-core:CurrentFinancialInstruments 2023-06-30 SC448493 frs-core:Non-currentFinancialInstruments 2023-06-30 SC448493 frs-core:BetweenOneFiveYears 2023-06-30 SC448493 frs-core:WithinOneYear 2023-06-30 SC448493 frs-core:ShareCapital 2023-06-30 SC448493 frs-core:RetainedEarningsAccumulatedLosses 2023-06-30
Registered number: SC448493
RETAIL HOME STORES LTD
Unaudited Financial Statements
For The Year Ended 30 June 2024
The Accounting Crew
Office Suite 3
Shrieves Walk
Stratford-Upon-Avon
CV37 6GJ
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—6
Page 1
Balance Sheet
Registered number: SC448493
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 1,921,540 968,713
1,921,540 968,713
CURRENT ASSETS
Stocks 5 285,412 276,224
Debtors 6 168,437 301,037
Cash at bank and in hand 684,853 576,985
1,138,702 1,154,246
Creditors 7 (590,366 ) (409,965 )
NET CURRENT ASSETS (LIABILITIES) 548,336 744,281
TOTAL ASSETS LESS CURRENT LIABILITIES 2,469,876 1,712,994
Creditors: Amounts Falling Due After More Than One Year 8 (1,093,364 ) (336,749 )
NET ASSETS 1,376,512 1,376,245
CAPITAL AND RESERVES
Called up share capital 10 100 100
Profit and Loss Account 1,376,412 1,376,145
SHAREHOLDERS' FUNDS 1,376,512 1,376,245
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 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 G O'BOYLE
Director
24th March 2025
The notes on pages 3 to 6 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
RETAIL HOME STORES LTD is a private company, limited by shares, incorporated in Scotland, registered number SC448493 . The registered office is 107 BARRIE ROAD, GLASGOW, G52 4PX.
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 0
Plant & Machinery 15 %
Motor Vehicles 25%
Fixtures & Fittings 15%
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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. 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.
2.6. 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 and deferred tax are recognised in profit or loss for the year, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case current and deferred tax are 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: 15 (2023: 13)
15 13
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4. Tangible Assets
Land & Property
Freehold Plant & Machinery Motor Vehicles Fixtures & Fittings Total
£ £ £ £ £
Cost
As at 1 July 2023 658,767 158,800 164,463 155,433 1,137,463
Additions 887,759 - 137,560 20,618 1,045,937
As at 30 June 2024 1,546,526 158,800 302,023 176,051 2,183,400
Depreciation
As at 1 July 2023 - 31,178 73,109 64,463 168,750
Provided during the period - 19,143 57,229 16,738 93,110
As at 30 June 2024 - 50,321 130,338 81,201 261,860
Net Book Value
As at 30 June 2024 1,546,526 108,479 171,685 94,850 1,921,540
As at 1 July 2023 658,767 127,622 91,354 90,970 968,713
5. Stocks
2024 2023
£ £
Stock 285,412 276,224
6. Debtors
2024 2023
£ £
Due within one year
Other debtors 168,437 301,037
7. Creditors
2024 2023
£ £
Net obligations under finance lease and hire purchase contracts 40,000 50,936
Trade creditors 154,363 112,254
Bank loans and overdrafts 233,649 50,788
Corporation tax 90,946 129,211
PAYE/NIC (Current liabilities - creditors < 1 year) 4,070 2,800
...CONTINUED
Page 5
Page 6
VAT 63,611 58,605
Accruals and deferred income 3,665 5,000
Director's loan account 62 371
590,366 409,965
8. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Net obligations under finance lease and hire purchase contracts 90,491 -
Bank loans 1,002,873 336,749
1,093,364 336,749
9. Obligations Under Finance Leases and Hire Purchase
2024 2023
£ £
The future minimum finance lease payments are as follows:
Not later than one year 40,000 50,936
Later than one year and not later than five years 90,491 -
130,491 50,936
130,491 50,936
10. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 100 100
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