Acorah Software Products - Accounts Production 16.3.350 false true 31 August 2023 1 March 2022 false 1 September 2023 31 August 2024 31 August 2024 NI676571 Mr Steven Stewart Mrs Nicola Stewart iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure NI676571 2023-08-31 NI676571 2024-08-31 NI676571 2023-09-01 2024-08-31 NI676571 frs-core:CurrentFinancialInstruments 2024-08-31 NI676571 frs-core:PlantMachinery 2024-08-31 NI676571 frs-core:PlantMachinery 2023-09-01 2024-08-31 NI676571 frs-core:PlantMachinery 2023-08-31 NI676571 frs-core:WithinOneYear 2024-08-31 NI676571 frs-core:ShareCapital 2024-08-31 NI676571 frs-core:RetainedEarningsAccumulatedLosses 2024-08-31 NI676571 frs-bus:PrivateLimitedCompanyLtd 2023-09-01 2024-08-31 NI676571 frs-bus:FilletedAccounts 2023-09-01 2024-08-31 NI676571 frs-bus:SmallEntities 2023-09-01 2024-08-31 NI676571 frs-bus:AuditExempt-NoAccountantsReport 2023-09-01 2024-08-31 NI676571 frs-bus:SmallCompaniesRegimeForAccounts 2023-09-01 2024-08-31 NI676571 frs-bus:Director1 2023-09-01 2024-08-31 NI676571 frs-bus:Director1 2023-08-31 NI676571 frs-bus:Director1 2024-08-31 NI676571 frs-bus:Director2 2023-09-01 2024-08-31 NI676571 frs-countries:NorthernIreland 2023-09-01 2024-08-31 NI676571 2022-02-28 NI676571 2023-08-31 NI676571 2022-03-01 2023-08-31 NI676571 frs-core:CurrentFinancialInstruments 2023-08-31 NI676571 frs-core:WithinOneYear 2023-08-31 NI676571 frs-core:ShareCapital 2023-08-31 NI676571 frs-core:RetainedEarningsAccumulatedLosses 2023-08-31
Registered number: NI676571
Valleyside Developments Ltd
Unaudited Financial Statements
For The Year Ended 31 August 2024
RWCA LTD
158 Upper Newtownards Road
Belfast
Co Antrim
BT4 3EQ
Contents
Page
Balance Sheet 1
Notes to the Financial Statements 2—4
Page 1
Balance Sheet
Registered number: NI676571
31 August 2024 31 August 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 145,742 151,046
Investment Properties 5 67,989 67,989
213,731 219,035
CURRENT ASSETS
Stocks 6 - 400,000
Debtors 7 190,505 133,799
Cash at bank and in hand 385,705 34,072
576,210 567,871
Creditors: Amounts Falling Due Within One Year 8 (412,364 ) (583,363 )
NET CURRENT ASSETS (LIABILITIES) 163,846 (15,492 )
TOTAL ASSETS LESS CURRENT LIABILITIES 377,577 203,543
NET ASSETS 377,577 203,543
CAPITAL AND RESERVES
Called up share capital 10 10 10
Profit and Loss Account 377,567 203,533
SHAREHOLDERS' FUNDS 377,577 203,543
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
Mr Steven Stewart
Director
09/04/2025
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
Valleyside Developments Ltd is a private company, limited by shares, incorporated in Northern Ireland, registered number NI676571 . The registered office is 158 Upper Newtownards Road, Belfast, BT4 3EQ.
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 20% straight line
2.4. Investment Properties
All investment properties are carried at fair value determined annually and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided for. Changes in fair value are recognised in the profit and loss account.
2.5. Leasing and Hire Purchase Contracts
Assets obtained under finance leases are capitalised as tangible fixed assets. Assets acquired under finance leases are depreciated over the shorter of the lease term and their useful lives. Assets acquired under hire purchase contracts are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in the creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.

Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to profit and loss account as incurred.
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.
Page 2
Page 3
2.7. Taxation
Income tax expense represents the sum of the tax currently payable.
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.
Current tax for the year is recognised in profit or loss.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 2 (2023: 2)
2 2
4. Tangible Assets
Plant & Machinery
£
Cost
As at 1 September 2023 169,867
Additions 9,696
As at 31 August 2024 179,563
Depreciation
As at 1 September 2023 18,821
Provided during the period 15,000
As at 31 August 2024 33,821
Net Book Value
As at 31 August 2024 145,742
As at 1 September 2023 151,046
5. Investment Property
31 August 2024
£
Fair Value
As at 1 September 2023 and 31 August 2024 67,989
6. Stocks
31 August 2024 31 August 2023
£ £
Stock - 400,000
7. Debtors
31 August 2024 31 August 2023
£ £
Due within one year
Trade debtors - 8,677
Other debtors 190,505 125,122
190,505 133,799
Page 3
Page 4
8. Creditors: Amounts Falling Due Within One Year
31 August 2024 31 August 2023
£ £
Net obligations under finance lease and hire purchase contracts 28,167 41,292
Trade creditors 192 159,243
Amounts owed to participating interests 323,539 323,539
Other creditors 2,170 49,035
Taxation and social security 58,296 10,254
412,364 583,363
9. Obligations Under Finance Leases and Hire Purchase
31 August 2024 31 August 2023
£ £
The future minimum finance lease payments are as follows:
Not later than one year 28,167 41,292
10. Share Capital
31 August 2024 31 August 2023
£ £
Allotted, Called up and fully paid 10 10
11. Directors Advances, Credits and Guarantees
Included within Debtors are the following loans to directors:
As at 1 September 2023 Amounts advanced Amounts repaid Amounts written off As at 31 August 2024
£ £ £ £ £
Mr Steven Stewart (45,154 ) 140,000 - - 94,846
The above loan was repaid in full by 2 March 2025
12. Related Party Transactions
'Amounts owed to participating interests' relates to monies owed to Valleyside Construction Ltd, a company of which Steven Stewart is a director and 50% shareholder.
Page 4