Acorah Software Products - Accounts Production 16.2.850 false true 31 January 2024 1 February 2023 false 1 February 2024 31 January 2025 31 January 2025 SC686680 Mr Kevin Barker Ms Lucy Barker Ms Katie Barker Ms Alison Barker iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure SC686680 2024-01-31 SC686680 2025-01-31 SC686680 2024-02-01 2025-01-31 SC686680 frs-core:CurrentFinancialInstruments 2025-01-31 SC686680 frs-core:ComputerEquipment 2025-01-31 SC686680 frs-core:ComputerEquipment 2024-02-01 2025-01-31 SC686680 frs-core:ComputerEquipment 2024-01-31 SC686680 frs-core:MotorVehicles 2025-01-31 SC686680 frs-core:MotorVehicles 2024-02-01 2025-01-31 SC686680 frs-core:MotorVehicles 2024-01-31 SC686680 frs-core:PlantMachinery 2025-01-31 SC686680 frs-core:PlantMachinery 2024-02-01 2025-01-31 SC686680 frs-core:PlantMachinery 2024-01-31 SC686680 frs-core:ShareCapital 2025-01-31 SC686680 frs-core:RetainedEarningsAccumulatedLosses 2025-01-31 SC686680 frs-bus:PrivateLimitedCompanyLtd 2024-02-01 2025-01-31 SC686680 frs-bus:FilletedAccounts 2024-02-01 2025-01-31 SC686680 frs-bus:SmallEntities 2024-02-01 2025-01-31 SC686680 frs-bus:AuditExempt-NoAccountantsReport 2024-02-01 2025-01-31 SC686680 frs-bus:SmallCompaniesRegimeForAccounts 2024-02-01 2025-01-31 SC686680 frs-bus:Director1 2024-02-01 2025-01-31 SC686680 frs-bus:Director1 2024-01-31 SC686680 frs-bus:Director1 2025-01-31 SC686680 frs-bus:Director2 2024-02-01 2025-01-31 SC686680 frs-bus:Director2 2024-01-31 SC686680 frs-bus:Director2 2025-01-31 SC686680 frs-bus:Director3 2024-02-01 2025-01-31 SC686680 frs-bus:Director3 2024-01-31 SC686680 frs-bus:Director3 2025-01-31 SC686680 frs-bus:Director4 2024-02-01 2025-01-31 SC686680 frs-bus:Director4 2024-01-31 SC686680 frs-bus:Director4 2025-01-31 SC686680 frs-countries:Scotland 2024-02-01 2025-01-31 SC686680 2023-01-31 SC686680 2024-01-31 SC686680 2023-02-01 2024-01-31 SC686680 frs-core:CurrentFinancialInstruments 2024-01-31 SC686680 frs-core:ShareCapital 2024-01-31 SC686680 frs-core:RetainedEarningsAccumulatedLosses 2024-01-31
Registered number: SC686680
Kilted Competitions Limited
Unaudited Financial Statements
For The Year Ended 31 January 2025
TaxAssist Accountants
Contents
Page
Balance Sheet 1
Notes to the Financial Statements 2—4
Page 1
Balance Sheet
Registered number: SC686680
2025 2024
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 20,360 22,553
20,360 22,553
CURRENT ASSETS
Stocks 5 469,100 347,500
Debtors 6 - 356,582
Cash at bank and in hand 2,206,333 1,533,249
2,675,433 2,237,331
Creditors: Amounts Falling Due Within One Year 7 (388,406 ) (439,746 )
NET CURRENT ASSETS (LIABILITIES) 2,287,027 1,797,585
TOTAL ASSETS LESS CURRENT LIABILITIES 2,307,387 1,820,138
NET ASSETS 2,307,387 1,820,138
CAPITAL AND RESERVES
Called up share capital 8 80 100
Profit and Loss Account 2,307,307 1,820,038
SHAREHOLDERS' FUNDS 2,307,387 1,820,138
For the year ending 31 January 2025 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 Kevin Barker
Director
16/04/2025
The notes on pages 2 to 4 form part of these financial statements.
Page 1
Page 2
Notes to the Financial Statements
1. General Information
Kilted Competitions Limited is a private company, limited by shares, incorporated in Scotland, registered number SC686680 . The registered office is Unit 6 4a Brent Avenue, Montrose, DD10 9PB.
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:
Plant & Machinery 15% Reducing Balance
Motor Vehicles 25% Reducing Balance
Computer Equipment 25% Reducing Balance
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.
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 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.
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Page 3
3. Average Number of Employees
Average number of employees, including directors, during the year was: 4 (2024: 4)
4 4
4. Tangible Assets
Plant & Machinery Motor Vehicles Computer Equipment Total
£ £ £ £
Cost
As at 1 February 2024 - 33,700 160 33,860
Additions 6,556 - - 6,556
As at 31 January 2025 6,556 33,700 160 40,416
Depreciation
As at 1 February 2024 - 11,215 92 11,307
Provided during the period 604 8,122 23 8,749
As at 31 January 2025 604 19,337 115 20,056
Net Book Value
As at 31 January 2025 5,952 14,363 45 20,360
As at 1 February 2024 - 22,485 68 22,553
5. Stocks
2025 2024
£ £
Stock 20,000 -
Stock 449,100 347,500
469,100 347,500
6. Debtors
2025 2024
£ £
Due within one year
Directors' loan accounts - 356,582
7. Creditors: Amounts Falling Due Within One Year
2025 2024
£ £
Trade creditors 32,546 36
Bank loans and overdrafts 33,917 -
Corporation tax 320,595 426,710
Other taxes and social security - 11,763
Accruals and deferred income 1,345 1,237
Directors' loan accounts 3 -
388,406 439,746
Page 3
Page 4
8. Share Capital
2025 2024
£ £
Allotted, Called up and fully paid 80 100
9. Directors Advances, Credits and Guarantees
Included within Debtors are the following loans to directors:
As at 1 February 2024 Amounts advanced Amounts repaid Amounts written off As at 31 January 2025
£ £ £ £ £
Mr Kevin Barker 60,431 299,584 (360,015 ) - -
Ms Lucy Barker 99,536 50,000 (149,536 ) - -
Ms Katie Barker 97,142 10,238 (107,380 ) - -
Ms Alison Barker 99,472 68 (99,545 ) - (5 )
The above loan is unsecured, interest free and repayable on demand.
Page 4