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 SC595748 Mrs Leslie Pryde Mr Gary Hunter iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure SC595748 2023-08-31 SC595748 2024-08-31 SC595748 2023-09-01 2024-08-31 SC595748 frs-core:CurrentFinancialInstruments 2024-08-31 SC595748 frs-core:Non-currentFinancialInstruments 2024-08-31 SC595748 frs-core:FurnitureFittings 2024-08-31 SC595748 frs-core:FurnitureFittings 2023-09-01 2024-08-31 SC595748 frs-core:FurnitureFittings 2023-08-31 SC595748 frs-core:NetGoodwill 2024-08-31 SC595748 frs-core:NetGoodwill 2023-09-01 2024-08-31 SC595748 frs-core:NetGoodwill 2023-08-31 SC595748 frs-core:MotorVehicles 2024-08-31 SC595748 frs-core:MotorVehicles 2023-09-01 2024-08-31 SC595748 frs-core:MotorVehicles 2023-08-31 SC595748 frs-core:PlantMachinery 2024-08-31 SC595748 frs-core:PlantMachinery 2023-09-01 2024-08-31 SC595748 frs-core:PlantMachinery 2023-08-31 SC595748 frs-core:ShareCapital 2024-08-31 SC595748 frs-core:RetainedEarningsAccumulatedLosses 2024-08-31 SC595748 frs-bus:PrivateLimitedCompanyLtd 2023-09-01 2024-08-31 SC595748 frs-bus:FilletedAccounts 2023-09-01 2024-08-31 SC595748 frs-bus:SmallEntities 2023-09-01 2024-08-31 SC595748 frs-bus:AuditExempt-NoAccountantsReport 2023-09-01 2024-08-31 SC595748 frs-bus:SmallCompaniesRegimeForAccounts 2023-09-01 2024-08-31 SC595748 frs-bus:Director1 2023-09-01 2024-08-31 SC595748 frs-bus:Director2 2023-09-01 2024-08-31 SC595748 frs-countries:Scotland 2023-09-01 2024-08-31 SC595748 2022-08-31 SC595748 2023-08-31 SC595748 2022-09-01 2023-08-31 SC595748 frs-core:CurrentFinancialInstruments 2023-08-31 SC595748 frs-core:Non-currentFinancialInstruments 2023-08-31 SC595748 frs-core:ShareCapital 2023-08-31 SC595748 frs-core:RetainedEarningsAccumulatedLosses 2023-08-31
Registered number: SC595748
Frances Hunter Hair Limited
Financial Statements
For The Year Ended 31 August 2024
Precision Accountants and Business Advisors Ltd
Contents
Page
Statement of Financial Position 1—2
Notes to the Financial Statements 3—6
Page 1
Statement of Financial Position
Registered number: SC595748
2024 2023
Notes £ £ £ £
FIXED ASSETS
Intangible Assets 4 75,000 90,000
Tangible Assets 5 11,747 14,488
86,747 104,488
CURRENT ASSETS
Stocks 6 19,302 18,740
Debtors 7 75,879 56,627
Cash at bank and in hand 49,277 70,055
144,458 145,422
Creditors: Amounts Falling Due Within One Year 8 (89,706 ) (121,569 )
NET CURRENT ASSETS (LIABILITIES) 54,752 23,853
TOTAL ASSETS LESS CURRENT LIABILITIES 141,499 128,341
Creditors: Amounts Falling Due After More Than One Year 9 (11,333 ) (15,000 )
PROVISIONS FOR LIABILITIES
Deferred Taxation (2,937 ) (3,369 )
NET ASSETS 127,229 109,972
CAPITAL AND RESERVES
Called up share capital 10 103 103
Income Statement 127,126 109,869
SHAREHOLDERS' FUNDS 127,229 109,972
Page 1
Page 2
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 Income Statement.
On behalf of the board
Mrs Leslie Pryde
Director
Mr Gary Hunter
Director
20/05/2025
The notes on pages 3 to 6 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Frances Hunter Hair Limited is a private company, limited by shares, incorporated in Scotland, registered number SC595748 . The registered office is Coast Business Centre Ainslie Street, West Pitkerro Industrial Estate, Dundee, Scotland, DD5 3RR.
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. Intangible Fixed Assets and Amortisation - Goodwill
Goodwill is the difference between amounts paid on the acquisition of a business and the fair value of the separable net assets. It is amortised to income statement over its estimated economic life of 10 years.
2.4. 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%
Motor Vehicles 25%
Fixtures & Fittings 25%
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. Financial Instruments
The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments. 
Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument. 
Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously. 
Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangementconstitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted
at a market rate of interest. Financial assets classified as receivable within one year are not amortised.
Classification of financial liabilities
...CONTINUED
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2.6. Financial Instruments - continued
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. 
Basic financial liabilities
Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.
Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at
amortised cost using the effective interest method.
2.7. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
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.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current and deferred tax are recognised in profit or loss for the year, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case current and deferred tax are recognised in other comprehensive income or directly in equity respectively.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 14 (2023: 18)
14 18
4. Intangible Assets
Goodwill
£
Cost
As at 1 September 2023 150,000
As at 31 August 2024 150,000
Amortisation
As at 1 September 2023 60,000
Provided during the period 15,000
As at 31 August 2024 75,000
Net Book Value
As at 31 August 2024 75,000
As at 1 September 2023 90,000
Page 4
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5. Tangible Assets
Plant & Machinery Motor Vehicles Fixtures & Fittings Total
£ £ £ £
Cost
As at 1 September 2023 20,199 3,681 7,940 31,820
Additions 1,007 - 167 1,174
As at 31 August 2024 21,206 3,681 8,107 32,994
Depreciation
As at 1 September 2023 10,929 2,516 3,887 17,332
Provided during the period 2,569 291 1,055 3,915
As at 31 August 2024 13,498 2,807 4,942 21,247
Net Book Value
As at 31 August 2024 7,708 874 3,165 11,747
As at 1 September 2023 9,270 1,165 4,053 14,488
6. Stocks
2024 2023
£ £
Stock 19,302 18,740
7. Debtors
2024 2023
£ £
Due within one year
Trade debtors 13,530 24,427
Amounts owed by participating interests 53,800 32,200
Other debtors 8,549 -
75,879 56,627
8. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 14,621 24,332
Wella loans current portion 4,000 4,000
Other creditors 5,254 66,135
Taxation and social security 65,831 27,102
89,706 121,569
9. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Wella long term loans 11,333 15,000
Page 5
Page 6
10. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 103 103
Page 6