Registration number:
ACA Group Limited
for the Year Ended 31 August 2024
ACA Group Limited
Contents
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Company Information |
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Statement of Financial Position |
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Statement of Changes in Equity |
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Notes to the Unaudited Financial Statements |
ACA Group Limited
Company Information
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Director |
Dara Changizi |
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Registered office |
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Accountants |
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ACA Group Limited
(Registration number: SC545505)
Statement of Financial Position as at 31 August 2024
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Note |
2024 |
2023 |
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Fixed assets |
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Investments |
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Current assets |
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Debtors |
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- |
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Cash at bank and in hand |
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Creditors: Amounts falling due within one year |
( |
( |
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Net current liabilities |
( |
( |
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Total assets less current liabilities |
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Creditors: Amounts falling due after more than one year |
( |
( |
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Net assets |
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Capital and reserves |
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Called up share capital |
1,402,000 |
1,402,000 |
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Retained earnings |
1,956,304 |
1,975,398 |
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Shareholders' funds |
3,358,304 |
3,377,398 |
ACA Group Limited
(Registration number: SC545505)
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:
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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
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ACA Group Limited
Statement of Changes in Equity for the Year Ended 31 August 2024
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Share capital |
Retained earnings |
Total |
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At 1 September 2023 |
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Profit for the year |
- |
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Dividends |
- |
( |
( |
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At 31 August 2024 |
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Share capital |
Retained earnings |
Total |
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At 1 September 2022 |
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Profit for the year |
- |
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Dividends |
- |
( |
( |
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At 31 August 2023 |
1,402,000 |
1,975,398 |
3,377,398 |
ACA Group Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 August 2024
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General information |
The company is a private company limited by share capital, incorporated in Scotland.
The address of its registered office is:
These financial statements were authorised for issue by the
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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 are rounded to the nearest £1.
Going concern
The financial statements have been prepared on a going concern basis.
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 income tax is recognised on temporary differences arising between the tax bases of assets and liabilities and their carrying amounts in the financial statements and on unused tax losses or tax credits in the company. Deferred income tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.
ACA Group Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 August 2024
Amortisation
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Asset class |
Amortisation method and rate |
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Goodwill |
3, 5 and 10 years straight line |
Investments
Investments in subsidiaries are accounted for at cost less accumulated impairment losses.
Cash and cash equivalents
Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.
Trade creditors
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the group does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.
Trade creditors are recognised initially at the transaction price.
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.
ACA Group Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 August 2024
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
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Staff numbers |
The average number of persons employed by the company (including the director) during the year, was
ACA Group Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 August 2024
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Investments |
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2024 |
2023 |
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Investments in subsidiaries |
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Subsidiaries |
£ |
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Cost or valuation |
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At 1 September 2023 |
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Provision |
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Carrying amount |
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At 31 August 2024 |
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At 31 August 2023 |
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Details of undertakings
Details of the investments in which the company holds 20% or more of the nominal value of any class of share capital are as follows:
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Undertaking |
Registered office |
Holding |
Proportion of voting rights and shares held |
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2024 |
2023 |
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Subsidiary undertakings |
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Scotland |
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Subsidiary undertakings |
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ACA Holdings Limited The principal activity of ACA Holdings Limited is |
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Debtors |
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2024 |
2023 |
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Other debtors |
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- |
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- |
ACA Group Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 August 2024
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Creditors |
Creditors: amounts falling due within one year
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Note |
2024 |
2023 |
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Due within one year |
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Loans and borrowings |
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Amounts owed to related parties |
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Accruals and deferred income |
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Creditors: amounts falling due after more than one year
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Note |
2024 |
2023 |
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Due after one year |
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Loans and borrowings |
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Share capital |
Allotted, called up and fully paid shares
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2024 |
2023 |
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No. |
£ |
No. |
£ |
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1,294,000 |
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1,294,000 |
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108,000 |
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108,000 |
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ACA Group Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 August 2024
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Loans and borrowings |
Non-current loans and borrowings
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2024 |
2023 |
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Bank borrowings |
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Finance lease liabilities |
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Current loans and borrowings
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2024 |
2023 |
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Bank borrowings |
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Finance lease liabilities |
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Bank borrowings
Bank borrowings represents funding received by way of a CBILS loan during the year ended 31 August 2021.
Finance lease liabilities
Finance lease liabilities are secured over the assets to which they relate.
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Dividends |
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2024 |
2023 |
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£ |
£ |
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Interim dividend of £ |
51,734 |
50,711 |
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ACA Group Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 August 2024
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Related party transactions |
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Transactions with the director |
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2024 |
At 1 September 2023 |
Advances to director |
At 31 August 2024 |
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Dara Changizi |
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Director's Loan Account |
- |
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Other transactions with the director |
The overdrawn Director's Loan Account will be repaid within 9 months of the year end.
Summary of transactions with other related parties