Acorah Software Products - Accounts Production 16.2.850 false true 31 May 2023 1 June 2022 false 1 June 2023 31 May 2024 31 May 2024 SC560018 Mr James Redfern Miss Olivia Quinn Mr James Redfern James Redfern true iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure SC560018 2023-05-31 SC560018 2024-05-31 SC560018 2023-06-01 2024-05-31 SC560018 frs-core:CurrentFinancialInstruments 2024-05-31 SC560018 frs-core:Non-currentFinancialInstruments 2024-05-31 SC560018 frs-core:InvestmentPropertyIncludedWithinPPE 2024-05-31 SC560018 frs-core:InvestmentPropertyIncludedWithinPPE 2023-06-01 2024-05-31 SC560018 frs-core:InvestmentPropertyIncludedWithinPPE 2023-05-31 SC560018 frs-core:SharePremium 2024-05-31 SC560018 frs-core:ShareCapital 2024-05-31 SC560018 frs-core:RetainedEarningsAccumulatedLosses 2024-05-31 SC560018 frs-bus:PrivateLimitedCompanyLtd 2023-06-01 2024-05-31 SC560018 frs-bus:FilletedAccounts 2023-06-01 2024-05-31 SC560018 frs-bus:SmallEntities 2023-06-01 2024-05-31 SC560018 frs-bus:AuditExempt-NoAccountantsReport 2023-06-01 2024-05-31 SC560018 frs-bus:SmallCompaniesRegimeForAccounts 2023-06-01 2024-05-31 SC560018 1 2023-06-01 2024-05-31 SC560018 frs-bus:Director1 2023-06-01 2024-05-31 SC560018 frs-bus:Director2 2023-06-01 2024-05-31 SC560018 frs-bus:CompanySecretary1 2023-06-01 2024-05-31 SC560018 frs-countries:Scotland 2023-06-01 2024-05-31 SC560018 2022-05-31 SC560018 2023-05-31 SC560018 2022-06-01 2023-05-31 SC560018 frs-core:CurrentFinancialInstruments 2023-05-31 SC560018 frs-core:Non-currentFinancialInstruments 2023-05-31 SC560018 frs-core:SharePremium 2023-05-31 SC560018 frs-core:ShareCapital 2023-05-31 SC560018 frs-core:RetainedEarningsAccumulatedLosses 2023-05-31
Registered number: SC560018
Matheson Glynn Ltd
Unaudited Financial Statements
For The Year Ended 31 May 2024
Rosslyn Associates Ltd
Chartered Tax Advisers & Accountants
The Walled Garden
South Building
Bush Estate
Midlothian
EH26 0SD
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—4
Page 1
Balance Sheet
Registered number: SC560018
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 5,273,000 5,356,000
5,273,000 5,356,000
CURRENT ASSETS
Debtors 5 14,788 100,663
Cash at bank and in hand 6,534 18,648
21,322 119,311
Creditors: Amounts Falling Due Within One Year 6 (24,730 ) (49,599 )
NET CURRENT ASSETS (LIABILITIES) (3,408 ) 69,712
TOTAL ASSETS LESS CURRENT LIABILITIES 5,269,592 5,425,712
Creditors: Amounts Falling Due After More Than One Year 7 (4,067,274 ) (4,289,345 )
PROVISIONS FOR LIABILITIES
Deferred Taxation (149,150 ) (126,730 )
NET ASSETS 1,053,168 1,009,637
CAPITAL AND RESERVES
Called up share capital 8 300 300
Share premium account 323,605 323,605
Profit and Loss Account 729,263 685,732
SHAREHOLDERS' FUNDS 1,053,168 1,009,637
Page 1
Page 2
For the year ending 31 May 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 James Redfern
Director
28/05/2025
The notes on pages 3 to 4 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Matheson Glynn Ltd is a private company, limited by shares, incorporated in Scotland, registered number SC560018 . The registered office is Suite 3a, Broughton Place, Edinburgh, EH1 3RL.
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 comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
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:
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. Taxation
The charge for taxation takes into account taxation deferred as a result of timing differences between the treatment of certain items for taxation and accounting purposes. In general, deferred taxation is recognised in respect of timing differences that have originated but not reversed at the balance sheet date. However, deferred tax assets are recognised only to the extent that the directors consider that it is more likely than not that there will be suitable taxable profits from which the future reversal of the underlying timing differences can be deducted. Deferred taxation is measured on a non-discounted basis at the tax rates that are expected to apply in periods in which the timing differences reverse, based on tax rates and the law enacted or substantively enacted at the balance sheet date.
2.6. Registrar Filing Requirements
The company has taken advantage of Companies Act 2006 section 444(1) and opted not to file the profit and loss account, directors report, and notes to the financial statements relating to the profit and loss account.
3. Average Number of Employees
Average number of employees, including directors, during the year was: NIL (2023: 1)
- 1
4. Tangible Assets
Investment Properties
£
Cost or Valuation
As at 1 June 2023 5,356,000
Disposals (235,000 )
Revaluation 152,000
As at 31 May 2024 5,273,000
Net Book Value
As at 31 May 2024 5,273,000
As at 1 June 2023 5,356,000
Page 3
Page 4
5. Debtors
2024 2023
£ £
Due within one year
Trade debtors 185 -
Other debtors 14,603 100,663
14,788 100,663
6. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 1,755 4,421
Bank loans and overdrafts 3,833 3,833
Other creditors 19,142 7,697
Taxation and social security - 33,648
24,730 49,599
7. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Bank loans 22,487 26,360
Other creditors 4,044,787 4,262,985
4,067,274 4,289,345
8. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 300 300
9. Related Party Transactions
The directors are of the opinion that all related party transactions are conducted under normal market conditions and on an arm's length basis and therefore do not need to be disclosed under FRS 102 section 1A appendix C.
10. Ultimate Controlling Party
The company's ultimate controlling party is James Redfern by virtue of his ownership of the majority of the issued share capital in the company.
Page 4