A.C.A. Assets Ltd SC353339 false 2023-09-01 2024-08-31 2024-08-31 The principal activity of the company is that of renting property and equipment. Digita Accounts Production Advanced 6.30.9574.0 true false true SC353339 2023-09-01 2024-08-31 SC353339 2024-08-31 SC353339 bus:OrdinaryShareClass1 2024-08-31 SC353339 core:RetainedEarningsAccumulatedLosses 2024-08-31 SC353339 core:RevaluationReserve 2024-08-31 SC353339 core:ShareCapital 2024-08-31 SC353339 core:FinancialAssetsCostLessImpairment core:Non-currentFinancialInstruments 2024-08-31 SC353339 core:CurrentFinancialInstruments 2024-08-31 SC353339 core:CurrentFinancialInstruments core:WithinOneYear 2024-08-31 SC353339 core:Non-currentFinancialInstruments core:AfterOneYear 2024-08-31 SC353339 core:FurnitureFittingsToolsEquipment 2024-08-31 SC353339 core:LandBuildings 2024-08-31 SC353339 core:MotorVehicles 2024-08-31 SC353339 bus:SmallEntities 2023-09-01 2024-08-31 SC353339 bus:AuditExemptWithAccountantsReport 2023-09-01 2024-08-31 SC353339 bus:FilletedAccounts 2023-09-01 2024-08-31 SC353339 bus:SmallCompaniesRegimeForAccounts 2023-09-01 2024-08-31 SC353339 bus:RegisteredOffice 2023-09-01 2024-08-31 SC353339 bus:Director4 2023-09-01 2024-08-31 SC353339 bus:OrdinaryShareClass1 2023-09-01 2024-08-31 SC353339 bus:PrivateLimitedCompanyLtd 2023-09-01 2024-08-31 SC353339 core:RetainedEarningsAccumulatedLosses 2023-09-01 2024-08-31 SC353339 core:RevaluationReserve 2023-09-01 2024-08-31 SC353339 core:ShareCapital 2023-09-01 2024-08-31 SC353339 core:FurnitureFittingsToolsEquipment 2023-09-01 2024-08-31 SC353339 core:Land 2023-09-01 2024-08-31 SC353339 core:LandBuildings 2023-09-01 2024-08-31 SC353339 core:MotorVehicles 2023-09-01 2024-08-31 SC353339 core:PlantMachinery 2023-09-01 2024-08-31 SC353339 core:OtherRelatedParties 2023-09-01 2024-08-31 SC353339 1 2023-09-01 2024-08-31 SC353339 countries:Scotland 2023-09-01 2024-08-31 SC353339 2023-08-31 SC353339 core:RetainedEarningsAccumulatedLosses 2023-08-31 SC353339 core:RevaluationReserve 2023-08-31 SC353339 core:ShareCapital 2023-08-31 SC353339 core:FurnitureFittingsToolsEquipment 2023-08-31 SC353339 core:LandBuildings 2023-08-31 SC353339 core:MotorVehicles 2023-08-31 SC353339 2022-09-01 2023-08-31 SC353339 2023-08-31 SC353339 bus:OrdinaryShareClass1 2023-08-31 SC353339 core:CurrentFinancialInstruments 2023-08-31 SC353339 core:CurrentFinancialInstruments core:WithinOneYear 2023-08-31 SC353339 core:Non-currentFinancialInstruments core:AfterOneYear 2023-08-31 SC353339 core:FurnitureFittingsToolsEquipment 2023-08-31 SC353339 core:LandBuildings 2023-08-31 SC353339 core:MotorVehicles 2023-08-31 SC353339 core:RetainedEarningsAccumulatedLosses 2022-09-01 2023-08-31 SC353339 core:RevaluationReserve 2022-09-01 2023-08-31 SC353339 core:RevaluationReserve core:LandBuildings 2022-09-01 2023-08-31 SC353339 core:ShareCapital 2022-09-01 2023-08-31 SC353339 core:LandBuildings 2022-09-01 2023-08-31 SC353339 2022-08-31 SC353339 core:RetainedEarningsAccumulatedLosses 2022-08-31 SC353339 core:RevaluationReserve 2022-08-31 SC353339 core:ShareCapital 2022-08-31 iso4217:GBP xbrli:pure xbrli:shares

Registration number: SC353339

A.C.A. Assets Ltd

Unaudited Filleted Financial Statements

for the Year Ended 31 August 2024

 

A.C.A. Assets Ltd

Contents

Company Information

1

Statement of Financial Position

2 to 3

Statement of Changes in Equity

4

Notes to the Unaudited Financial Statements

5 to 11

 

A.C.A. Assets Ltd

Company Information

Director

Dara Changizi

Registered office

Unit 14
Cartside Avenue
Inchinnan Business Park
INCHINNAN
PA4 9RP

Accountants

Morris & Young
Chartered Accountants
6 Atholl Crescent
PERTH
PH1 5JN

 

A.C.A. Assets Ltd

(Registration number: SC353339)
Statement of Financial Position as at 31 August 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

3,027,478

3,089,991

Other financial assets

5

18,332

18,332

 

3,045,810

3,108,323

Current assets

 

Debtors

6

2,847,397

2,206,129

Cash at bank and in hand

 

121,601

483,018

 

2,968,998

2,689,147

Creditors: Amounts falling due within one year

7

(976,760)

(811,672)

Net current assets

 

1,992,238

1,877,475

Total assets less current liabilities

 

5,038,048

4,985,798

Creditors: Amounts falling due after more than one year

7

(1,293,630)

(1,200,440)

Provisions for liabilities

(562,664)

(548,291)

Net assets

 

3,181,754

3,237,067

Capital and reserves

 

Called up share capital

8

2

2

Revaluation reserve

871,250

871,250

Retained earnings

2,310,502

2,365,815

Shareholders' funds

 

3,181,754

3,237,067

 

A.C.A. Assets Ltd

(Registration number: SC353339)
Statement of Financial Position as at 31 August 2024

For the financial 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.

Director's responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

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 in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 19 May 2025
 

.........................................
Dara Changizi
Director

 

A.C.A. Assets Ltd

Statement of Changes in Equity for the Year Ended 31 August 2024

Share capital
£

Revaluation reserve
£

Retained earnings
£

Total
£

At 1 September 2023

2

871,250

2,365,815

3,237,067

Loss for the year

-

-

(3,579)

(3,579)

Dividends

-

-

(51,734)

(51,734)

At 31 August 2024

2

871,250

2,310,502

3,181,754

Share capital
£

Revaluation reserve
£

Retained earnings
£

Total
£

At 1 September 2022

2

414,450

2,389,441

2,803,893

Loss for the year

-

-

(23,626)

(23,626)

Other comprehensive income

-

456,800

-

456,800

Total comprehensive income

-

456,800

(23,626)

433,174

At 31 August 2023

2

871,250

2,365,815

3,237,067

 

A.C.A. Assets Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2024

1

General information

The company is a private company limited by share capital, incorporated in Scotland.

The address of its registered office is:
Unit 14
Cartside Avenue
Inchinnan Business Park
INCHINNAN
PA4 9RP

These financial statements were authorised for issue by the director on 19 May 2025.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

The financial statements are presented in sterling (£) and rounded to the nearest £1.

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

 

A.C.A. Assets Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2024

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a charge attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used.

Tangible assets

Tangible assets, other than Land and Buildings, are stated in the Balance Sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Land and Buildings have been revalued on a Market Value basis by an independent valuer.

Depreciation

Depreciation is charged so as to write off the cost of assets, over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Freehold Property

2% on cost

Plant and machinery

25% reducing balance and 10% on cost

Motor vehicles

25% reducing balance

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and bank deposits.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

 

A.C.A. Assets Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2024

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Leases

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessee.

Assets held under finance leases are recognised at the lower of their fair value at inception of the lease and the present value of the minimum lease payments. These assets are depreciated on a straight-line basis over the shorter of the useful life of the asset and the lease term. The corresponding liability to the lessor is included in the statement of financial position as a finance lease obligation.

Lease payments are apportioned between finance costs in the profit and loss account and reduction of the lease obligation so as to achieve a constant periodic rate of interest on the remaining balance of the liability.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

Financial instruments

The company only has financial assets and liabilities of a kind that would qualify as basic financial instruments which are recognised at their transaction value and subsequently measured at their settlement value.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 0 (2023 - 0).

 

A.C.A. Assets Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2024

4

Tangible assets

Land and buildings
£

Furniture, fittings and equipment
 £

Motor vehicles
 £

Total
£

Cost or valuation

At 1 September 2023

1,950,000

3,089,963

273,521

5,313,484

Additions

8,452

232,822

9,201

250,475

Disposals

-

(463,756)

(48,092)

(511,848)

At 31 August 2024

1,958,452

2,859,029

234,630

5,052,111

Depreciation

At 1 September 2023

80,000

1,993,820

118,840

2,192,660

Charge for the year

20,000

192,648

39,418

252,066

Eliminated on disposal

-

(396,645)

(23,448)

(420,093)

At 31 August 2024

100,000

1,789,823

134,810

2,024,633

Carrying amount

At 31 August 2024

1,858,452

1,069,206

99,820

3,027,478

At 31 August 2023

1,870,000

1,065,310

154,681

3,089,991

Included within the net book value of land and buildings above is £1,858,452 (2023 - £1,870,000) in respect of freehold land and buildings.
 

 

A.C.A. Assets Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2024

5

Other financial assets (current and non-current)

Financial assets at cost less impairment
£

Total
£

Non-current financial assets

Cost or valuation

Additions

18,332

18,332

At 31 August 2024

18,332

18,332

Impairment

Carrying amount

At 31 August 2024

18,332

18,332

6

Debtors

Current

Note

2024
£

2023
£

Trade debtors

 

72,967

2,057

Amounts owed by related parties

10

2,744,430

2,117,257

Prepayments

 

5,000

44,285

Other debtors

 

25,000

42,530

   

2,847,397

2,206,129

 

A.C.A. Assets Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2024

7

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

86,135

49,703

Trade creditors

 

-

2,000

Amounts owed to related parties

10

832,253

751,661

Taxation and social security

 

42,121

5,939

Accruals and deferred income

 

2,500

2,369

Other creditors

 

13,751

-

 

976,760

811,672

Creditors include finance lease liabilities which are secured of £56,885 (2023 - £20,453) and bank loans of £29,250 (2023 - £29,250). Finance lease liabilities are secured over the assets to which they relate.

Creditors: amounts falling due after more than one year

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

1,293,630

1,200,440

Creditors include finance lease liabilities which are secured of £191,193 (2023 - £68,752) and bank loans of £1,102,438 (2023 - £1,131,688). Finance lease liabilities are secured over the assets to which they relate.

 

A.C.A. Assets Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2024

8

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary shares of £1 each

2

2

2

2

       

9

Reserves

The changes to each component of equity resulting from items of other comprehensive income for the prior year were as follows:

Revaluation reserve
£

Total
£

Surplus/deficit on property, plant and equipment revaluation

456,800

456,800


10

Related party transactions

Summary of transactions with other related parties

The Limited Company has taken advantage of the exemption in FRS 102 "Related Party Disclosures" from disclosing transactions with the other members of the Group.
 

11

Parent and ultimate parent undertaking

The company's immediate parent is ACA Holdings Ltd, incorporated in Scotland.

 The ultimate parent is ACA Group Limited, incorporated in Scotland.