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 SC165819 Mr L Bain Mr B Bain Mr J Bain Mr L Bain iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure SC165819 frs-core:Non-currentFinancialInstruments frs-core:MoreThanFiveYears 2024-08-31 SC165819 2023-08-31 SC165819 2024-08-31 SC165819 2023-09-01 2024-08-31 SC165819 frs-core:CurrentFinancialInstruments 2024-08-31 SC165819 frs-core:Non-currentFinancialInstruments 2024-08-31 SC165819 frs-core:FurnitureFittings 2023-09-01 2024-08-31 SC165819 frs-core:LandBuildings 2024-08-31 SC165819 frs-core:LandBuildings 2023-09-01 2024-08-31 SC165819 frs-core:LandBuildings 2023-08-31 SC165819 frs-core:LandBuildings frs-core:OwnedOrFreeholdAssets 2023-09-01 2024-08-31 SC165819 frs-core:MotorVehicles 2023-09-01 2024-08-31 SC165819 frs-core:PlantMachinery 2024-08-31 SC165819 frs-core:PlantMachinery 2023-09-01 2024-08-31 SC165819 frs-core:PlantMachinery 2023-08-31 SC165819 frs-core:CapitalRedemptionReserve 2024-08-31 SC165819 frs-core:ShareCapital 2024-08-31 SC165819 frs-core:RetainedEarningsAccumulatedLosses 2024-08-31 SC165819 frs-bus:PrivateLimitedCompanyLtd 2023-09-01 2024-08-31 SC165819 frs-bus:FilletedAccounts 2023-09-01 2024-08-31 SC165819 frs-bus:SmallEntities 2023-09-01 2024-08-31 SC165819 frs-bus:AuditExempt-NoAccountantsReport 2023-09-01 2024-08-31 SC165819 frs-bus:SmallCompaniesRegimeForAccounts 2023-09-01 2024-08-31 SC165819 frs-core:FurtherSpecificReserve1ComponentTotalEquity 2024-08-31 SC165819 frs-bus:Director1 2023-09-01 2024-08-31 SC165819 frs-bus:Director2 2023-09-01 2024-08-31 SC165819 frs-bus:Director3 2023-09-01 2024-08-31 SC165819 frs-bus:CompanySecretary1 2023-09-01 2024-08-31 SC165819 frs-countries:Scotland 2023-09-01 2024-08-31 SC165819 frs-core:Non-currentFinancialInstruments frs-core:MoreThanFiveYears 2023-08-31 SC165819 2022-08-31 SC165819 2023-08-31 SC165819 2022-09-01 2023-08-31 SC165819 frs-core:CurrentFinancialInstruments 2023-08-31 SC165819 frs-core:Non-currentFinancialInstruments 2023-08-31 SC165819 frs-core:PlantMachinery 2022-09-01 2023-08-31 SC165819 frs-core:CapitalRedemptionReserve 2023-08-31 SC165819 frs-core:ShareCapital 2023-08-31 SC165819 frs-core:RetainedEarningsAccumulatedLosses 2023-08-31 SC165819 frs-core:FurtherSpecificReserve1ComponentTotalEquity 2023-08-31
Registered number: SC165819
William Bain & Sons Limited
Unaudited Financial Statements
For The Year Ended 31 August 2024
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—7
Page 1
Balance Sheet
Registered number: SC165819
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 73,496 66,174
Investment Properties 5 160,000 140,390
233,496 206,564
CURRENT ASSETS
Stocks 6 1,298 3,891
Debtors 7 26,785 17,944
Cash at bank and in hand 57,638 99,061
85,721 120,896
Creditors: Amounts Falling Due Within One Year 8 (48,456 ) (49,947 )
NET CURRENT ASSETS (LIABILITIES) 37,265 70,949
TOTAL ASSETS LESS CURRENT LIABILITIES 270,761 277,513
Creditors: Amounts Falling Due After More Than One Year 9 (52,209 ) (59,254 )
PROVISIONS FOR LIABILITIES
Deferred Taxation (9,578 ) (4,000 )
NET ASSETS 208,974 214,259
CAPITAL AND RESERVES
Called up share capital 11 5,700 5,700
Capital redemption reserve 4,300 4,300
Fair value reserve 12 15,884 -
Profit and Loss Account 183,090 204,259
SHAREHOLDERS' FUNDS 208,974 214,259
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 Profit and Loss Account.
On behalf of the board
Mr B Bain
Director
2 June 2025
The notes on pages 3 to 7 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
William Bain & Sons Limited is a private company, limited by shares, incorporated in Scotland, registered number SC165819 . The registered office is 36/38 West Bowling Green Street, Edinburgh, EH6 5PB.
The presentation currency of the financial statements is the Pound Sterling (£).
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 1% on cost
Plant & Machinery at variable rates on reducing balance
Motor Vehicles 15% reducing balance
Fixtures & Fittings 20% reducing balance
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.
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2.5. Leasing and Hire Purchase Contracts
Assets obtained under 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.
2.6. 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.
2.7. 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 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.
2.8. Pensions
The company operates a defined pension contribution scheme. Contributions are charged to the profit and loss account as they become payable in accordance with the rules of the scheme.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 4 (2023: 5)
4 5
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4. Tangible Assets
Land & Buildings Plant & Machinery etc. Total
£ £ £
Cost or Valuation
As at 1 September 2023 73,500 110,180 183,680
Additions - 13,900 13,900
As at 31 August 2024 73,500 124,080 197,580
Depreciation
As at 1 September 2023 31,605 85,901 117,506
Provided during the period 735 5,843 6,578
As at 31 August 2024 32,340 91,744 124,084
Net Book Value
As at 31 August 2024 41,160 32,336 73,496
As at 1 September 2023 41,895 24,279 66,174
Included above are assets held under finance leases or hire purchase contracts with a net book value as follows:
2024 2023
£ £
Plant & Machinery 11,856 13,948
5. Investment Property
2024
£
Fair Value
As at 1 September 2023 140,390
Fair value adjustments 19,610
As at 31 August 2024 160,000
If investment property had been accounted for under historical cost accounting rules, the amounts would be:
2024 2023
£ £
Cost 140,390 140,390
Investment Property was valued on an open market basis as at the balance sheet date by the director.
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6. Stocks
2024 2023
£ £
Stock 300 300
Work in progress 998 3,591
1,298 3,891
7. Debtors
2024 2023
£ £
Due within one year
Trade debtors 20,001 11,825
Other debtors 6,784 6,119
26,785 17,944
8. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Net obligations under finance lease and hire purchase contracts 1,889 4,509
Trade creditors 10,294 16,164
Bank loans and overdrafts 8,904 8,904
Other creditors 16,419 7,005
Taxation and social security 10,950 13,365
48,456 49,947
9. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Net obligations under finance lease and hire purchase contracts - 1,889
Bank loans 52,209 57,365
52,209 59,254
Of the creditors falling due after more than one year the following amounts are due after more than five years.
2024 2023
£ £
Bank loans 16,593 21,749
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10. Secured Creditors
Of the creditors the following amounts are secured.
2024 2023
£ £
Net obligations under finance lease and hire purchase contracts 1,889 6,398
Bank loans and overdrafts 61,113 66,269
11. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 5,700 5,700
12. Reserves
Fair Value Reserve
£
Movements in fair value reserve 15,884
As at 31 August 2024 15,884
Page 7