Acorah Software Products - Accounts Production 16.3.350 false true 30 June 2023 1 July 2022 false 1 July 2023 31 December 2024 31 December 2024 SC581098 Mr Philip Lovegrove Mrs Nicola Lovegrove iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure SC581098 2023-06-30 SC581098 2024-12-31 SC581098 2023-07-01 2024-12-31 SC581098 frs-core:CurrentFinancialInstruments 2024-12-31 SC581098 frs-core:MotorVehicles 2024-12-31 SC581098 frs-core:MotorVehicles 2023-07-01 2024-12-31 SC581098 frs-core:MotorVehicles 2023-06-30 SC581098 frs-core:PlantMachinery 2024-12-31 SC581098 frs-core:PlantMachinery 2023-07-01 2024-12-31 SC581098 frs-core:PlantMachinery 2023-06-30 SC581098 frs-core:ShareCapital 2024-12-31 SC581098 frs-core:RetainedEarningsAccumulatedLosses 2024-12-31 SC581098 frs-bus:PrivateLimitedCompanyLtd 2023-07-01 2024-12-31 SC581098 frs-bus:FilletedAccounts 2023-07-01 2024-12-31 SC581098 frs-bus:SmallEntities 2023-07-01 2024-12-31 SC581098 frs-bus:AuditExempt-NoAccountantsReport 2023-07-01 2024-12-31 SC581098 frs-bus:SmallCompaniesRegimeForAccounts 2023-07-01 2024-12-31 SC581098 frs-bus:Director1 2023-07-01 2024-12-31 SC581098 frs-bus:Director1 2023-06-30 SC581098 frs-bus:Director1 2024-12-31 SC581098 frs-bus:Director2 2023-07-01 2024-12-31 SC581098 frs-bus:Director2 2023-06-30 SC581098 frs-bus:Director2 2024-12-31 SC581098 frs-countries:Scotland 2023-07-01 2024-12-31 SC581098 2022-06-30 SC581098 2023-06-30 SC581098 2022-07-01 2023-06-30 SC581098 frs-core:CurrentFinancialInstruments 2023-06-30 SC581098 frs-core:ShareCapital 2023-06-30 SC581098 frs-core:RetainedEarningsAccumulatedLosses 2023-06-30
Registered number: SC581098
Principled Developments Ltd
Unaudited Financial Statements
For the Period 1 July 2023 to 31 December 2024
Count On You Ltd
AAT
10c Ridge Way
Donibristle Ind Est
Dalgety Bay
Fife
KY11 9JN
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: SC581098
31 December 2024 30 June 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 - 17,676
- 17,676
CURRENT ASSETS
Stocks 5 - 414,392
Debtors 6 - 1,901
Cash at bank and in hand 1,542 4,097
1,542 420,390
Creditors: Amounts Falling Due Within One Year 7 (143,025 ) (566,023 )
NET CURRENT ASSETS (LIABILITIES) (141,483 ) (145,633 )
TOTAL ASSETS LESS CURRENT LIABILITIES (141,483 ) (127,957 )
NET LIABILITIES (141,483 ) (127,957 )
CAPITAL AND RESERVES
Called up share capital 8 2 2
Profit and Loss Account (141,485 ) (127,959 )
SHAREHOLDERS' FUNDS (141,483) (127,957)
Page 1
Page 2
For the period ending 31 December 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 Philip Lovegrove
Director
4th June 2025
The notes on pages 3 to 5 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Principled Developments Ltd is a private company, limited by shares, incorporated in Scotland, registered number SC581098 . The registered office is Pitcairnie House Pitcairnie Lane, Carnbo, Kinross, KY13 0NA.
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:
Plant & Machinery 20% reducing balance
Motor Vehicles 20% reducing balance
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. Financial Instruments
The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.
3. Average Number of Employees
Average number of employees, including directors, during the period was: 2 (2023: 2)
2 2
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4. Tangible Assets
Plant & Machinery Motor Vehicles Total
£ £ £
Cost
As at 1 July 2023 21,087 24,486 45,573
Additions 357 - 357
Disposals (21,444 ) (24,486 ) (45,930 )
As at 31 December 2024 - - -
Depreciation
As at 1 July 2023 8,946 18,951 27,897
Disposals (8,946 ) (18,951 ) (27,897 )
As at 31 December 2024 - - -
Net Book Value
As at 31 December 2024 - - -
As at 1 July 2023 12,141 5,535 17,676
5. Stocks
31 December 2024 30 June 2023
£ £
Work in progress - 414,392
6. Debtors
31 December 2024 30 June 2023
£ £
Due within one year
Prepayments and accrued income - 108
VAT - 1,793
- 1,901
7. Creditors: Amounts Falling Due Within One Year
31 December 2024 30 June 2023
£ £
VAT 2,547 -
Directors' loan accounts 140,478 566,023
143,025 566,023
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8. Share Capital
31 December 2024 30 June 2023
£ £
Allotted, Called up and fully paid 2 2
9. Directors Advances, Credits and Guarantees
Included within creditors are the following loans from directors:
As at 1 July 2023 Amounts advanced Amounts repaid Amounts written off As at 31 December 2024
£ £ £ £ £
Mr Philip Lovegrove (521,023 ) (215,904 ) 641,449 - (95,478 )
Mrs Nicola Lovegrove (45,000 ) - - - (45,000 )
The above loan is unsecured, interest free and repayable on demand.
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