Acorah Software Products - Accounts Production 16.2.850 false true true 31 August 2023 1 September 2022 false 1 September 2023 31 August 2024 31 August 2024 SC340280 Peter Maxwell Bruce Maxwell Sheila Maxwell Peter T Maxwell iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure SC340280 2023-08-31 SC340280 2024-08-31 SC340280 2023-09-01 2024-08-31 SC340280 frs-core:CurrentFinancialInstruments 2024-08-31 SC340280 frs-core:Non-currentFinancialInstruments 2024-08-31 SC340280 frs-core:DevelopmentCostsCapitalisedDevelopmentExpenditure 2023-09-01 2024-08-31 SC340280 frs-core:LandBuildings 2024-08-31 SC340280 frs-core:LandBuildings 2023-09-01 2024-08-31 SC340280 frs-core:LandBuildings 2023-08-31 SC340280 frs-core:LandBuildings frs-core:OwnedOrFreeholdAssets 2023-09-01 2024-08-31 SC340280 frs-core:OtherResidualIntangibleAssets 2024-08-31 SC340280 frs-core:OtherResidualIntangibleAssets 2023-09-01 2024-08-31 SC340280 frs-core:OtherResidualIntangibleAssets 2023-08-31 SC340280 frs-core:PlantMachinery 2024-08-31 SC340280 frs-core:PlantMachinery 2023-09-01 2024-08-31 SC340280 frs-core:PlantMachinery 2023-08-31 SC340280 frs-core:ShareCapital 2024-08-31 SC340280 frs-core:RetainedEarningsAccumulatedLosses 2024-08-31 SC340280 frs-bus:PrivateLimitedCompanyLtd 2023-09-01 2024-08-31 SC340280 frs-bus:FilletedAccounts 2023-09-01 2024-08-31 SC340280 frs-bus:SmallEntities 2023-09-01 2024-08-31 SC340280 frs-bus:AuditExempt-NoAccountantsReport 2023-09-01 2024-08-31 SC340280 frs-bus:SmallCompaniesRegimeForAccounts 2023-09-01 2024-08-31 SC340280 frs-core:UnlistedNon-exchangeTraded 2024-08-31 SC340280 frs-core:UnlistedNon-exchangeTraded 2023-08-31 SC340280 frs-core:CostValuation frs-core:UnlistedNon-exchangeTraded 2023-08-31 SC340280 frs-core:CostValuation frs-core:UnlistedNon-exchangeTraded 2024-08-31 SC340280 frs-core:ProvisionsForImpairmentInvestments frs-core:UnlistedNon-exchangeTraded 2023-08-31 SC340280 frs-core:ProvisionsForImpairmentInvestments frs-core:UnlistedNon-exchangeTraded 2024-08-31 SC340280 frs-bus:Director1 2023-09-01 2024-08-31 SC340280 frs-bus:Director2 2023-09-01 2024-08-31 SC340280 frs-bus:Director3 2023-09-01 2024-08-31 SC340280 frs-bus:Director4 2023-09-01 2024-08-31 SC340280 frs-countries:Scotland 2023-09-01 2024-08-31 SC340280 2022-08-31 SC340280 2023-08-31 SC340280 2022-09-01 2023-08-31 SC340280 frs-core:CurrentFinancialInstruments 2023-08-31 SC340280 frs-core:Non-currentFinancialInstruments 2023-08-31 SC340280 frs-core:ShareCapital 2023-08-31 SC340280 frs-core:RetainedEarningsAccumulatedLosses 2023-08-31
Registered number: SC340280
Agromax Limited
Unaudited Financial Statements
For The Year Ended 31 August 2024
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—6
Page 1
Balance Sheet
Registered number: SC340280
2024 2023
Notes £ £ £ £
FIXED ASSETS
Intangible Assets 4 - 2,000
Tangible Assets 5 1,468,849 947,734
Investments 6 2,082 2,082
1,470,931 951,816
CURRENT ASSETS
Stocks 7 3,250 3,250
Debtors 8 37,688 15,468
Cash at bank and in hand 53,133 336,616
94,071 355,334
Creditors: Amounts Falling Due Within One Year 9 (922,815 ) (880,531 )
NET CURRENT ASSETS (LIABILITIES) (828,744 ) (525,197 )
TOTAL ASSETS LESS CURRENT LIABILITIES 642,187 426,619
Creditors: Amounts Falling Due After More Than One Year 10 (678,913 ) (495,440 )
NET LIABILITIES (36,726 ) (68,821 )
CAPITAL AND RESERVES
Called up share capital 12 1 1
Profit and Loss Account (36,727 ) (68,822 )
SHAREHOLDERS' FUNDS (36,726) (68,821)
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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 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
Peter Maxwell
Director
16 April 2025
The notes on pages 3 to 6 form part of these financial statements.
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Notes to the Financial Statements
1. General Information
Agromax Limited is a private company, limited by shares, incorporated in Scotland, registered number SC340280 . The registered office is Auldtown of Carnousie, Forglen, Turriff, Aberdeenshire, AB53 7LL.
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 the FRS 102 Section 1A Small Entities - The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.
The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.
The company has taken advantage of the exemption under section 399 of the Companies Act 2006 not to prepare consolidated accounts, on the basis that the group of which this is the parent qualifies as a small group. The financial statements present information about the company as an individual entity and not about its group. 
2.2. Going Concern Disclosure
The balance sheet of the company as at 31 August 2024 is in a net deficit position.  The company's biggest creditor is it's subsidiary which has agreed not to seek repayment until funds are available. The directors have therefore deemed it appropriate to prepare the accounts on the going concern basis. 
2.3. 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.
2.4. Intangible Fixed Assets and Amortisation - Other Intangible
Other intangible assets are Basic Payment Scheme Entitlements. They are amortised to the profit and loss account over their estimated economic life of 3 years.
2.5. 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% reducing balance
2.6. 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.
2.7. Foreign Currencies
Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate ruling on the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
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2.8. 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.
2.9. Fixed asset investments
Interests in subsidiaries are initially measured at cost and subsequently measured at cost less any accumulated impairment losses. The investments are assessed for impairment at each reporting date and any impairment losses or reversals of impairment losses are recognised immediately in profit or loss.
A subsidiary is an entity controlled by the company. Control is the power to govern the financial and operating policies of the entity so as to obtain benefits from its activities. 
3. Average Number of Employees
Average number of employees, including directors, during the year was: 4 (2023: 2)
4 2
4. Intangible Assets
BPS Entitlements
£
Cost
As at 1 September 2023 6,000
As at 31 August 2024 6,000
Amortisation
As at 1 September 2023 4,000
Provided during the period 2,000
As at 31 August 2024 6,000
Net Book Value
As at 31 August 2024 -
As at 1 September 2023 2,000
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5. Tangible Assets
Land & Buildings Plant & Machinery etc. Total
£ £ £
Cost
As at 1 September 2023 912,222 42,045 954,267
Additions 526,442 - 526,442
As at 31 August 2024 1,438,664 42,045 1,480,709
Depreciation
As at 1 September 2023 - 6,533 6,533
Provided during the period - 5,327 5,327
As at 31 August 2024 - 11,860 11,860
Net Book Value
As at 31 August 2024 1,438,664 30,185 1,468,849
As at 1 September 2023 912,222 35,512 947,734
6. Investments
Unlisted
£
Cost
As at 1 September 2023 2,082
As at 31 August 2024 2,082
Provision
As at 1 September 2023 -
As at 31 August 2024 -
Net Book Value
As at 31 August 2024 2,082
As at 1 September 2023 2,082
7. Stocks
2024 2023
£ £
Stock 3,250 3,250
8. Debtors
2024 2023
£ £
Due within one year
Other debtors 18,293 14,990
VAT 342 477
Directors' loan accounts 19,052 -
Called up share capital not paid 1 1
37,688 15,468
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9. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Bank loans and overdrafts 37,366 4,560
Accruals and deferred income 22,683 13,205
Amounts owed to group undertakings 862,766 862,766
922,815 880,531
10. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Bank loans 678,913 495,440
11. Secured Creditors
The bank loans are secured.
12. Share Capital
2024 2023
£ £
Called Up Share Capital not Paid 1 1
Amount of Allotted, Called Up Share Capital 1 1
13. Directors Advances, Credits and Guarantees
Included within debtors was a directors' loan account balance of £19,052 (2023 - £nil), this loan was unsecured and repayable on demand. Interest is being paid. 
14. Related Party Transactions
Included within creditors is a balance due to a group undertaking of £862,766 (2023 - £862,766).
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