Acorah Software Products - Accounts Production 16.4.660 false true 31 March 2024 1 April 2023 false 1 April 2024 31 March 2025 31 March 2025 SC316117 Mrs Jacqueline Low Mr James Brown Mrs Jacqueline Low Mr James Brown and Mrs Jacqueline Low true iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure SC316117 2024-03-31 SC316117 2025-03-31 SC316117 2024-04-01 2025-03-31 SC316117 frs-core:CurrentFinancialInstruments 2025-03-31 SC316117 frs-core:Non-currentFinancialInstruments 2025-03-31 SC316117 frs-core:NetGoodwill 2025-03-31 SC316117 frs-core:NetGoodwill 2024-04-01 2025-03-31 SC316117 frs-core:NetGoodwill 2024-03-31 SC316117 frs-core:MotorVehicles 2025-03-31 SC316117 frs-core:MotorVehicles 2024-04-01 2025-03-31 SC316117 frs-core:MotorVehicles 2024-03-31 SC316117 frs-core:PlantMachinery 2025-03-31 SC316117 frs-core:PlantMachinery 2024-04-01 2025-03-31 SC316117 frs-core:PlantMachinery 2024-03-31 SC316117 frs-core:ShareCapital 2025-03-31 SC316117 frs-core:RetainedEarningsAccumulatedLosses 2025-03-31 SC316117 frs-bus:PrivateLimitedCompanyLtd 2024-04-01 2025-03-31 SC316117 frs-bus:FilletedAccounts 2024-04-01 2025-03-31 SC316117 frs-bus:SmallEntities 2024-04-01 2025-03-31 SC316117 frs-bus:AuditExemptWithAccountantsReport 2024-04-01 2025-03-31 SC316117 frs-bus:SmallCompaniesRegimeForAccounts 2024-04-01 2025-03-31 SC316117 1 2024-04-01 2025-03-31 SC316117 frs-bus:Director1 2024-04-01 2025-03-31 SC316117 frs-bus:Director1 2024-03-31 SC316117 frs-bus:Director1 2025-03-31 SC316117 frs-bus:Director2 2024-04-01 2025-03-31 SC316117 frs-bus:Director2 2024-03-31 SC316117 frs-bus:Director2 2025-03-31 SC316117 frs-bus:CompanySecretary1 2024-04-01 2025-03-31 SC316117 frs-countries:Scotland 2024-04-01 2025-03-31 SC316117 2023-03-31 SC316117 2024-03-31 SC316117 2023-04-01 2024-03-31 SC316117 frs-core:CurrentFinancialInstruments 2024-03-31 SC316117 frs-core:Non-currentFinancialInstruments 2024-03-31 SC316117 frs-core:ShareCapital 2024-03-31 SC316117 frs-core:RetainedEarningsAccumulatedLosses 2024-03-31 SC316117 frs-core:CurrentFinancialInstruments 1 2024-03-31
Registered number: SC316117
Randolph Auto Salvage Limited
Financial Statements
For The Year Ended 31 March 2025
Gillespie's Fife
Contents
Page
Accountants' Report 1
Balance Sheet 2—3
Notes to the Financial Statements 4—6
Page 1
Accountants' Report
Chartered Accountants' report to the directors on the preparation of the unaudited statutory accounts of Randolph Auto Salvage Limited for the year ended 31 March 2025
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Randolph Auto Salvage Limited for the year ended 31 March 2025 which comprise the Profit and Loss Account, the Balance Sheet and the related notes from the company's accounting records and from information and explanations you have given to us.
As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at http://www.icaew.com/en/membership/regulations-standards-and-guidance.
This report is made solely to the directors of Randolph Auto Salvage Limited , as a body, in accordance with the terms of our engagement letter dated 23 March 2021. Our work has been undertaken solely to prepare for your approval the accounts of Randolph Auto Salvage Limited and state those matters that we have agreed to state to the directors of Randolph Auto Salvage Limited , as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Randolph Auto Salvage Limited and its directors, as a body, for our work or for this report.
It is your duty to ensure that Randolph Auto Salvage Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit or loss of Randolph Auto Salvage Limited . You consider that Randolph Auto Salvage Limited is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit of the accounts of Randolph Auto Salvage Limited . For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the financial statements.
9th May 2025
Gillespie's Fife
Accountants
Fric Ajax Way
Methil
Leven
KY8 3RS
Page 1
Page 2
Balance Sheet
Registered number: SC316117
2025 2024
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 5 7,331 7,382
7,331 7,382
CURRENT ASSETS
Stocks 6 50,000 60,000
Debtors 7 60,057 60,556
Cash at bank and in hand 83,991 48,764
194,048 169,320
Creditors: Amounts Falling Due Within One Year 8 (246,968 ) (239,084 )
NET CURRENT ASSETS (LIABILITIES) (52,920 ) (69,764 )
TOTAL ASSETS LESS CURRENT LIABILITIES (45,589 ) (62,382 )
Creditors: Amounts Falling Due After More Than One Year 9 (1,667 ) (11,667 )
PROVISIONS FOR LIABILITIES
Deferred Taxation (737 ) (552 )
NET LIABILITIES (47,993 ) (74,601 )
CAPITAL AND RESERVES
Called up share capital 10 6 6
Profit and Loss Account (47,999 ) (74,607 )
SHAREHOLDERS' FUNDS (47,993) (74,601)
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For the year ending 31 March 2025 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 Brown
Director
9th May 2025
The notes on pages 4 to 6 form part of these financial statements.
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Notes to the Financial Statements
1. General Information
Randolph Auto Salvage Limited is a private company, limited by shares, incorporated in Scotland, registered number SC316117 . The registered office is Randolph Industrial Estate, Kirkcaldy, KY1 2YX.
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.
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 the profit and loss account over its estimated economic life of .... 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 15% reducing balance
Motor Vehicles 25% reducing balance
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. Taxation
Corporation tax expense represents the sum of the tax currently payable.
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 year 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.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 4 (2024: 5)
4 5
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4. Intangible Assets
Goodwill
£
Cost
As at 1 April 2024 65,000
As at 31 March 2025 65,000
Amortisation
As at 1 April 2024 65,000
As at 31 March 2025 65,000
Net Book Value
As at 31 March 2025 -
As at 1 April 2024 -
5. Tangible Assets
Plant & Machinery Motor Vehicles Total
£ £ £
Cost
As at 1 April 2024 43,275 12,000 55,275
Additions 1,430 - 1,430
As at 31 March 2025 44,705 12,000 56,705
Depreciation
As at 1 April 2024 37,480 10,413 47,893
Provided during the period 1,085 396 1,481
As at 31 March 2025 38,565 10,809 49,374
Net Book Value
As at 31 March 2025 6,140 1,191 7,331
As at 1 April 2024 5,795 1,587 7,382
6. Stocks
2025 2024
£ £
Stock 50,000 60,000
7. Debtors
2025 2024
£ £
Due within one year
Trade debtors 44,379 46,445
Prepayments and accrued income 14,537 14,111
Other debtors 1,141 -
60,057 60,556
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8. Creditors: Amounts Falling Due Within One Year
2025 2024
£ £
Trade creditors 14,478 7,583
Bank loans and overdrafts 10,000 10,000
Corporation tax 997 -
Other taxes and social security 2,687 3,451
VAT 13,510 12,302
Other creditors 127 52
Pension creditor - 677
Accruals and deferred income 1,800 1,650
Directors' loan accounts 203,369 203,369
246,968 239,084
9. Creditors: Amounts Falling Due After More Than One Year
2025 2024
£ £
Bank loans 1,667 11,667
10. Share Capital
2025 2024
£ £
Allotted, Called up and fully paid 6 6
11. Directors Advances, Credits and Guarantees
Included within Creditors are the following loans from directors:
As at 1 April 2024 Amounts advanced Amounts repaid Amounts written off As at 31 March 2025
£ £ £ £ £
Mrs Jacqueline Low 159,213 - - - 159,213
Mr James Brown 44,156 - - - 44,156
The above loans are unsecured, interest free and repayable on demand.
12. Ultimate Controlling Party
The company's ultimate controlling party is Mr James Brown and Mrs Jacqueline Low by virtue of their ownership of 100% of the issued share capital in the company.
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