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Registration number: SC448099

ACA Scotland Ltd

Unaudited Filleted Financial Statements

for the Year Ended 31 August 2024

 

ACA Scotland Ltd

Contents

Company Information

1

Statement of Financial Position

2

Statement of Changes in Equity

3

Notes to the Unaudited Financial Statements

4 to 9

 

ACA Scotland 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

 

ACA Scotland Ltd

(Registration number: SC448099)
Statement of Financial Position as at 31 August 2024

Note

2024
£

2023
£

Current assets

 

Stocks

4

345,273

122,352

Debtors

5

786,174

1,049,725

Cash at bank and in hand

 

45,751

60,710

 

1,177,198

1,232,787

Creditors: Amounts falling due within one year

6

(1,277,903)

(1,141,054)

Net (liabilities)/assets

 

(100,705)

91,733

Capital and reserves

 

Called up share capital

7

1

1

Retained earnings

(100,706)

91,732

Shareholders' (deficit)/funds

 

(100,705)

91,733

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

 

ACA Scotland Ltd

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

Share capital
£

Retained earnings
£

Total
£

At 1 September 2023

1

91,732

91,733

Loss for the year

-

(192,438)

(192,438)

At 31 August 2024

1

(100,706)

(100,705)

Share capital
£

Retained earnings
£

Total
£

At 1 September 2022

1

307,360

307,361

Loss for the year

-

(164,917)

(164,917)

Dividends

-

(50,711)

(50,711)

At 31 August 2023

1

91,732

91,733

 

ACA Scotland 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. The directors have, at the time of approving the financial statements, a reaonable expectation that the company has adequate resources to continue in operational existence.

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.

Cash and cash equivalents

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

 

ACA Scotland Ltd

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

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.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

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 company 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 and subsequently measured at amortised cost using the effective interest method.

 

ACA Scotland 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 in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

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.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 3 (2023 - 3).

 

ACA Scotland Ltd

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

4

Stocks

2024
£

2023
£

Work in progress

162,255

-

Other inventories

183,018

122,352

345,273

122,352

5

Debtors

Current

Note

2024
£

2023
£

Trade debtors

 

667,048

654,981

Amounts owed by related parties

10

-

320,281

Prepayments

 

39,478

45,636

Other debtors

 

79,648

28,827

   

786,174

1,049,725

6

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

8

532,389

545,167

Trade creditors

 

308,149

146,306

Amounts owed to related parties

10

345,245

340,792

Taxation and social security

 

65,448

55,326

Accruals and deferred income

 

3,000

50,834

Other creditors

 

23,672

2,629

 

1,277,903

1,141,054

 

ACA Scotland Ltd

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

7

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary of £1 each

1

1

1

1

       

8

Loans and borrowings

Current loans and borrowings

2024
£

2023
£

Bank overdrafts

532,389

545,167

Bank overdrafts represent the Invoice Discounting Agreement, which is secured by a floating charge.

9

Dividends

2024

2023

£

£

Interim dividend of £Nil (2023 - £50,711.23) per ordinary share

-

50,711

 

 
 

ACA Scotland Ltd

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

10

Related party transactions

Transactions with the director

2024

At 1 September 2023
£

Advances to director
£

Repayments by director
£

At 31 August 2024
£

Dara Changizi

Director's Loan Account

1,105

9,537

(1,105)

9,537

2023

At 1 September 2022
£

Advances to director
£

Repayments by director
£

At 31 August 2023
£

Dara Changizi

Director's Loan Account

3,665

1,105

(3,665)

1,105

Summary of transactions with other related parties

11

Parent and ultimate parent undertaking

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

The ultimate controlling party is ACA Group Limited, incorporated in Scotland.