Acorah Software Products - Accounts Production 16.3.350 false true 31 August 2023 1 September 2022 false 1 September 2023 31 August 2024 31 August 2024 NI604137 Mr Steven Stewart Mr John Stewart iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure NI604137 2023-08-31 NI604137 2024-08-31 NI604137 2023-09-01 2024-08-31 NI604137 frs-core:CurrentFinancialInstruments 2024-08-31 NI604137 frs-core:FurnitureFittings 2024-08-31 NI604137 frs-core:FurnitureFittings 2023-09-01 2024-08-31 NI604137 frs-core:FurnitureFittings 2023-08-31 NI604137 frs-core:MotorVehicles 2024-08-31 NI604137 frs-core:MotorVehicles 2023-09-01 2024-08-31 NI604137 frs-core:MotorVehicles 2023-08-31 NI604137 frs-core:PlantMachinery 2024-08-31 NI604137 frs-core:PlantMachinery 2023-09-01 2024-08-31 NI604137 frs-core:PlantMachinery 2023-08-31 NI604137 frs-core:WithinOneYear 2024-08-31 NI604137 frs-core:ShareCapital 2024-08-31 NI604137 frs-core:RetainedEarningsAccumulatedLosses 2024-08-31 NI604137 frs-bus:PrivateLimitedCompanyLtd 2023-09-01 2024-08-31 NI604137 frs-bus:FilletedAccounts 2023-09-01 2024-08-31 NI604137 frs-bus:SmallEntities 2023-09-01 2024-08-31 NI604137 frs-bus:AuditExempt-NoAccountantsReport 2023-09-01 2024-08-31 NI604137 frs-bus:SmallCompaniesRegimeForAccounts 2023-09-01 2024-08-31 NI604137 frs-bus:Director1 2023-09-01 2024-08-31 NI604137 frs-bus:Director2 2023-09-01 2024-08-31 NI604137 frs-countries:NorthernIreland 2023-09-01 2024-08-31 NI604137 2022-08-31 NI604137 2023-08-31 NI604137 2022-09-01 2023-08-31 NI604137 frs-core:CurrentFinancialInstruments 2023-08-31 NI604137 frs-core:WithinOneYear 2023-08-31 NI604137 frs-core:ShareCapital 2023-08-31 NI604137 frs-core:RetainedEarningsAccumulatedLosses 2023-08-31
Registered number: NI604137
Valleyside Construction Limited
Unaudited Financial Statements
For The Year Ended 31 August 2024
RWCA LTD
19 Magheralave Park North
Lisburn
Co Antrim
BT28 3NL
Contents
Page
Balance Sheet 1
Notes to the Financial Statements 2—4
Page 1
Balance Sheet
Registered number: NI604137
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 409,134 364,123
409,134 364,123
CURRENT ASSETS
Stocks 5 340,000 340,000
Debtors 6 676,039 828,286
Cash at bank and in hand 736,927 516,697
1,752,966 1,684,983
Creditors: Amounts Falling Due Within One Year 7 (756,426 ) (745,531 )
NET CURRENT ASSETS (LIABILITIES) 996,540 939,452
TOTAL ASSETS LESS CURRENT LIABILITIES 1,405,674 1,303,575
NET ASSETS 1,405,674 1,303,575
CAPITAL AND RESERVES
Called up share capital 9 2 2
Profit and Loss Account 1,405,672 1,303,573
SHAREHOLDERS' FUNDS 1,405,674 1,303,575
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
12/05/2025
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 Construction Limited is a private company, limited by shares, incorporated in Northern Ireland, registered number NI604137 . 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 are prepared under the historical cost convention and in accordance with the FRS 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 25% reducing balance
Motor Vehicles 20% reducing balance
Fixtures & Fittings 25% straight line
2.4. Leasing and Hire Purchase Contracts
Assets obtained under hire purchase contracts and 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.
2.5. 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.
2.6. 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 year 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.
Page 2
Page 3
3. Average Number of Employees
Average number of employees, including directors, during the year was:
2024 2023
Office and administration 1 -
Manufacturing 5 3
6 3
4. Tangible Assets
Plant & Machinery Motor Vehicles Fixtures & Fittings Total
£ £ £ £
Cost
As at 1 September 2023 505,180 96,485 1,543 603,208
Additions 176,242 3,400 1,899 181,541
As at 31 August 2024 681,422 99,885 3,442 784,749
Depreciation
As at 1 September 2023 219,334 19,297 454 239,085
Provided during the period 115,522 20,147 861 136,530
As at 31 August 2024 334,856 39,444 1,315 375,615
Net Book Value
As at 31 August 2024 346,566 60,441 2,127 409,134
As at 1 September 2023 285,846 77,188 1,089 364,123
5. Stocks
2024 2023
£ £
Stock 340,000 340,000
6. Debtors
2024 2023
£ £
Due within one year
Trade debtors 35,194 335,043
Other debtors 182,252 -
VAT 134,600 169,250
Amounts owed by associates 323,993 323,993
676,039 828,286
Page 3
Page 4
7. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Net obligations under finance lease and hire purchase contracts 11,525 25,680
Trade creditors 601,501 505,401
Bank loans and overdrafts 17,675 27,439
Corporation tax 61,000 156,517
Other taxes and social security 26,328 12,091
Accruals and deferred income 38,178 18,364
Directors' loan accounts 219 39
756,426 745,531
8. Obligations Under Finance Leases and Hire Purchase
2024 2023
£ £
The future minimum finance lease payments are as follows:
Not later than one year 11,525 25,680
9. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 2 2
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