Acorah Software Products - Accounts Production 16.3.350 false true 31 October 2023 1 November 2022 false 1 November 2023 31 October 2024 31 October 2024 SC708412 Mr Iain Macqueen-Fraser iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure SC708412 2023-10-31 SC708412 2024-10-31 SC708412 2023-11-01 2024-10-31 SC708412 frs-core:CurrentFinancialInstruments 2024-10-31 SC708412 frs-core:Non-currentFinancialInstruments 2024-10-31 SC708412 frs-core:MotorVehicles 2024-10-31 SC708412 frs-core:MotorVehicles 2023-11-01 2024-10-31 SC708412 frs-core:MotorVehicles 2023-10-31 SC708412 frs-core:PlantMachinery 2024-10-31 SC708412 frs-core:PlantMachinery 2023-11-01 2024-10-31 SC708412 frs-core:PlantMachinery 2023-10-31 SC708412 frs-core:ShareCapital 2024-10-31 SC708412 frs-core:RetainedEarningsAccumulatedLosses 2024-10-31 SC708412 frs-bus:PrivateLimitedCompanyLtd 2023-11-01 2024-10-31 SC708412 frs-bus:FilletedAccounts 2023-11-01 2024-10-31 SC708412 frs-bus:SmallEntities 2023-11-01 2024-10-31 SC708412 frs-bus:AuditExempt-NoAccountantsReport 2023-11-01 2024-10-31 SC708412 frs-bus:SmallCompaniesRegimeForAccounts 2023-11-01 2024-10-31 SC708412 frs-bus:Director1 2023-11-01 2024-10-31 SC708412 frs-countries:Scotland 2023-11-01 2024-10-31 SC708412 2022-10-31 SC708412 2023-10-31 SC708412 2022-11-01 2023-10-31 SC708412 frs-core:CurrentFinancialInstruments 2023-10-31 SC708412 frs-core:Non-currentFinancialInstruments 2023-10-31 SC708412 frs-core:ShareCapital 2023-10-31 SC708412 frs-core:RetainedEarningsAccumulatedLosses 2023-10-31
Registered number: SC708412
Iain Fraser Joinery Ltd
Unaudited Financial Statements
For The Year Ended 31 October 2024
D Napier Accountancy
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: SC708412
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 9,817 12,893
9,817 12,893
CURRENT ASSETS
Debtors 5 4,627 4,162
Cash at bank and in hand 5,292 12,208
9,919 16,370
Creditors: Amounts Falling Due Within One Year 6 (8,270 ) (9,396 )
NET CURRENT ASSETS (LIABILITIES) 1,649 6,974
TOTAL ASSETS LESS CURRENT LIABILITIES 11,466 19,867
Creditors: Amounts Falling Due After More Than One Year 7 (1,694 ) (6,694 )
NET ASSETS 9,772 13,173
CAPITAL AND RESERVES
Called up share capital 8 1 1
Profit and Loss Account 9,771 13,172
SHAREHOLDERS' FUNDS 9,772 13,173
Page 1
Page 2
For the year ending 31 October 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 Iain Macqueen-Fraser
Director
17th December 2024
The notes on pages 3 to 5 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Iain Fraser Joinery Ltd is a private company, limited by shares, incorporated in Scotland, registered number SC708412 . The registered office is 33 Netherwood Park, Livingston, EH54 8RN.
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
2.4. 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.
...CONTINUED
Page 3
Page 4
2.4. Taxation - continued
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: 1 (2023: 1)
1 1
4. Tangible Assets
Plant & Machinery Motor Vehicles Total
£ £ £
Cost
As at 1 November 2023 2,060 20,750 22,810
As at 31 October 2024 2,060 20,750 22,810
Depreciation
As at 1 November 2023 591 9,326 9,917
Provided during the period 220 2,856 3,076
As at 31 October 2024 811 12,182 12,993
Net Book Value
As at 31 October 2024 1,249 8,568 9,817
As at 1 November 2023 1,469 11,424 12,893
5. Debtors
2024 2023
£ £
Due within one year
Other taxes and social security 4,627 4,162
Page 4
Page 5
6. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Bank loans and overdrafts 5,000 5,000
Corporation tax 2,417 3,014
Accruals and deferred income 480 1,380
Director's loan account 373 2
8,270 9,396
7. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Bank loans 1,694 6,694
8. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 1 1
Page 5