Acorah Software Products - Accounts Production 16.3.350 false true 30 September 2023 1 October 2022 false 1 October 2023 30 September 2024 30 September 2024 SC198453 E Tait S Tait F Ross iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure SC198453 2023-09-30 SC198453 2024-09-30 SC198453 2023-10-01 2024-09-30 SC198453 frs-core:CurrentFinancialInstruments 2024-09-30 SC198453 frs-core:BetweenOneFiveYears 2024-09-30 SC198453 frs-core:LandBuildings frs-core:LeasedAssetsHeldAsLessee 2024-09-30 SC198453 frs-core:LandBuildings frs-core:LeasedAssetsHeldAsLessee 2023-10-01 2024-09-30 SC198453 frs-core:LandBuildings frs-core:LeasedAssetsHeldAsLessee 2023-09-30 SC198453 frs-core:LandBuildings frs-core:OwnedOrFreeholdAssets 2024-09-30 SC198453 frs-core:LandBuildings frs-core:OwnedOrFreeholdAssets 2023-10-01 2024-09-30 SC198453 frs-core:LandBuildings frs-core:OwnedOrFreeholdAssets 2023-09-30 SC198453 frs-core:MoreThanFiveYears 2024-09-30 SC198453 frs-core:MotorVehicles 2024-09-30 SC198453 frs-core:MotorVehicles 2023-10-01 2024-09-30 SC198453 frs-core:MotorVehicles 2023-09-30 SC198453 frs-core:PlantMachinery 2024-09-30 SC198453 frs-core:PlantMachinery 2023-10-01 2024-09-30 SC198453 frs-core:PlantMachinery 2023-09-30 SC198453 frs-core:WithinOneYear 2024-09-30 SC198453 frs-core:ShareCapital 2024-09-30 SC198453 frs-core:RetainedEarningsAccumulatedLosses 2024-09-30 SC198453 frs-bus:PrivateLimitedCompanyLtd 2023-10-01 2024-09-30 SC198453 frs-bus:FilletedAccounts 2023-10-01 2024-09-30 SC198453 frs-bus:SmallEntities 2023-10-01 2024-09-30 SC198453 frs-bus:AuditExempt-NoAccountantsReport 2023-10-01 2024-09-30 SC198453 frs-bus:SmallCompaniesRegimeForAccounts 2023-10-01 2024-09-30 SC198453 frs-core:UnlistedNon-exchangeTraded 2024-09-30 SC198453 frs-core:UnlistedNon-exchangeTraded 2023-09-30 SC198453 frs-core:CostValuation frs-core:UnlistedNon-exchangeTraded 2023-09-30 SC198453 frs-core:CostValuation frs-core:UnlistedNon-exchangeTraded 2024-09-30 SC198453 frs-core:ProvisionsForImpairmentInvestments frs-core:UnlistedNon-exchangeTraded 2023-09-30 SC198453 frs-core:ProvisionsForImpairmentInvestments frs-core:UnlistedNon-exchangeTraded 2024-09-30 SC198453 frs-bus:Director1 2023-10-01 2024-09-30 SC198453 frs-bus:Director2 2023-10-01 2024-09-30 SC198453 frs-bus:CompanySecretary1 2023-10-01 2024-09-30 SC198453 frs-countries:Scotland 2023-10-01 2024-09-30 SC198453 2022-09-30 SC198453 2023-09-30 SC198453 2022-10-01 2023-09-30 SC198453 frs-core:CurrentFinancialInstruments 2023-09-30 SC198453 frs-core:BetweenOneFiveYears 2023-09-30 SC198453 frs-core:MoreThanFiveYears 2023-09-30 SC198453 frs-core:WithinOneYear 2023-09-30 SC198453 frs-core:ShareCapital 2023-09-30 SC198453 frs-core:RetainedEarningsAccumulatedLosses 2023-09-30
Registered number: SC198453
Steven R Paterson Limited
Unaudited Financial Statements
For The Year Ended 30 September 2024
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—6
Page 1
Balance Sheet
Registered number: SC198453
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 290,420 306,158
Investments 5 75 75
290,495 306,233
CURRENT ASSETS
Stocks 6 482,006 591,347
Debtors 7 432,980 328,815
Cash at bank and in hand 807,063 448,722
1,722,049 1,368,884
Creditors: Amounts Falling Due Within One Year 8 (353,558 ) (264,716 )
NET CURRENT ASSETS (LIABILITIES) 1,368,491 1,104,168
TOTAL ASSETS LESS CURRENT LIABILITIES 1,658,986 1,410,401
PROVISIONS FOR LIABILITIES
Deferred Taxation (28,052 ) (31,444 )
NET ASSETS 1,630,934 1,378,957
CAPITAL AND RESERVES
Called up share capital 9 175,000 175,000
Profit and Loss Account 1,455,934 1,203,957
SHAREHOLDERS' FUNDS 1,630,934 1,378,957
Page 1
Page 2
For the year ending 30 September 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
E Tait
Director
22/05/2025
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
Steven R Paterson Limited is a private company, limited by shares, incorporated in Scotland, registered number SC198453 . The registered office is 10 Crowness Road, Hatston, Kirkwall, Orkney, KW15 1RG.
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:
Freehold 2% straight line basis
Leasehold 10% and 25% reducing balance basis
Plant & Machinery 25% reducing balance basis
Motor Vehicles 25% reducing balance basis
2.4. 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.
2.5. Taxation
The 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 or deferred tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.
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2.6. Pensions
The company participates in the Plumbers Pension Scheme - a multi-employer defined benefit plan, for some of its employees. The director is unable to confirm the company's share of the underlying assets and liabilities of this plan and therefore the plan is accounted for as a defined contribution scheme. This plan is closed to future employees. The company made no further contributions in the year.
All other qualifying employees are being offered the money purchase scheme operated under the auto-enrolment regulations. The company contributes the minimum statutory level of 3% of qualifying earnings.
2.7. Financial Instruments
The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ 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 balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method. Financial assets classified as receivable within one year are not amortised.
Impairment of financial assets
Financial assets, other than those held at fair value through profit and loss, are assessed for indicators of impairment at each reporting end date.
Classification of financial liabilities
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 and loans from connected parties are initially recognised at transaction price and are subsequently carried at amortised cost, using the effective interest rate method. Financial liabilities classified as payable within one year are not amortised.
Trade debtors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers.
Equity Instruments
Equity instruments issued by the company are recorded at the process received, net of transaction costs. Dividends payable on equity intruments are recognised as liabilities once they are no longer at the discretion of the company.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 30 (2023: 30)
30 30
4. Tangible Assets
Land & Property
Freehold Leasehold Plant & Machinery Motor Vehicles Total
£ £ £ £ £
Cost
As at 1 October 2023 205,000 370,603 176,526 423,791 1,175,920
Additions - - - 55,172 55,172
Disposals - - (56,323 ) (26,004 ) (82,327 )
As at 30 September 2024 205,000 370,603 120,203 452,959 1,148,765
...CONTINUED
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Page 5
Depreciation
As at 1 October 2023 94,990 300,229 157,407 317,136 869,762
Provided during the period 4,100 18,029 4,150 39,772 66,051
Disposals - - (54,207 ) (23,261 ) (77,468 )
As at 30 September 2024 99,090 318,258 107,350 333,647 858,345
Net Book Value
As at 30 September 2024 105,910 52,345 12,853 119,312 290,420
As at 1 October 2023 110,010 70,374 19,119 106,655 306,158
5. Investments
Unlisted
£
Cost
As at 1 October 2023 75
As at 30 September 2024 75
Provision
As at 1 October 2023 -
As at 30 September 2024 -
Net Book Value
As at 30 September 2024 75
As at 1 October 2023 75
6. Stocks
2024 2023
£ £
Stock 482,006 591,347
7. Debtors
2024 2023
£ £
Due within one year
Trade debtors 325,392 287,659
Other debtors 107,588 41,156
432,980 328,815
8. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 156,282 192,089
Other creditors 10,696 8,390
Taxation and social security 186,580 64,237
353,558 264,716
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9. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 175,000 175,000
10. Other Commitments
The total of future minimum lease payments under non-cancellable operating leases are as following:
2024 2023
£ £
Not later than one year 6,800 6,800
Later than one year and not later than five years 27,200 27,200
Later than five years 53,312 60,112
87,312 94,112
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