Acorah Software Products - Accounts Production 16.4.675 false true 31 October 2023 1 November 2022 false 1 November 2023 31 October 2024 31 October 2024 SC089157 Mr Charles David Black Mr Charles Edward Stuart Black Miss Sheona Alison Margaret Black Miss Sheona Alison Margaret Black iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure SC089157 2023-10-31 SC089157 2024-10-31 SC089157 2023-11-01 2024-10-31 SC089157 frs-core:CurrentFinancialInstruments 2024-10-31 SC089157 frs-core:Non-currentFinancialInstruments 2024-10-31 SC089157 frs-core:BetweenOneFiveYears 2024-10-31 SC089157 frs-core:LandBuildings frs-core:OwnedOrFreeholdAssets 2024-10-31 SC089157 frs-core:LandBuildings frs-core:OwnedOrFreeholdAssets 2023-11-01 2024-10-31 SC089157 frs-core:LandBuildings frs-core:OwnedOrFreeholdAssets 2023-10-31 SC089157 frs-core:MotorVehicles 2024-10-31 SC089157 frs-core:MotorVehicles 2023-11-01 2024-10-31 SC089157 frs-core:MotorVehicles 2023-10-31 SC089157 frs-core:PlantMachinery 2024-10-31 SC089157 frs-core:PlantMachinery 2023-11-01 2024-10-31 SC089157 frs-core:PlantMachinery 2023-10-31 SC089157 frs-core:WithinOneYear 2024-10-31 SC089157 frs-core:ShareCapital 2024-10-31 SC089157 frs-core:RetainedEarningsAccumulatedLosses 2024-10-31 SC089157 frs-bus:PrivateLimitedCompanyLtd 2023-11-01 2024-10-31 SC089157 frs-bus:FilletedAccounts 2023-11-01 2024-10-31 SC089157 frs-bus:SmallEntities 2023-11-01 2024-10-31 SC089157 frs-bus:AuditExempt-NoAccountantsReport 2023-11-01 2024-10-31 SC089157 frs-bus:SmallCompaniesRegimeForAccounts 2023-11-01 2024-10-31 SC089157 frs-bus:Director1 2023-11-01 2024-10-31 SC089157 frs-bus:Director1 2023-10-31 SC089157 frs-bus:Director1 2024-10-31 SC089157 frs-bus:Director2 2023-11-01 2024-10-31 SC089157 frs-bus:Director2 2023-10-31 SC089157 frs-bus:Director2 2024-10-31 SC089157 frs-bus:Director3 2023-11-01 2024-10-31 SC089157 frs-bus:CompanySecretary1 2023-11-01 2024-10-31 SC089157 frs-countries:Scotland 2023-11-01 2024-10-31 SC089157 2022-10-31 SC089157 2023-10-31 SC089157 2022-11-01 2023-10-31 SC089157 frs-core:CurrentFinancialInstruments 2023-10-31 SC089157 frs-core:Non-currentFinancialInstruments 2023-10-31 SC089157 frs-core:BetweenOneFiveYears 2023-10-31 SC089157 frs-core:WithinOneYear 2023-10-31 SC089157 frs-core:ShareCapital 2023-10-31 SC089157 frs-core:RetainedEarningsAccumulatedLosses 2023-10-31
Registered number: SC089157
Blacks Transport Limited
Unaudited Financial Statements
For The Year Ended 31 October 2024
Contents
Page
Balance Sheet 1
Notes to the Financial Statements 2—5
Page 1
Balance Sheet
Registered number: SC089157
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 327,914 349,623
327,914 349,623
CURRENT ASSETS
Stocks 5 16,760 20,200
Debtors 6 401,650 326,947
418,410 347,147
Creditors: Amounts Falling Due Within One Year 7 (271,297 ) (339,470 )
NET CURRENT ASSETS (LIABILITIES) 147,113 7,677
TOTAL ASSETS LESS CURRENT LIABILITIES 475,027 357,300
Creditors: Amounts Falling Due After More Than One Year 8 (196,993 ) (92,450 )
NET ASSETS 278,034 264,850
CAPITAL AND RESERVES
Called up share capital 10 10,000 10,000
Profit and Loss Account 268,034 254,850
SHAREHOLDERS' FUNDS 278,034 264,850
For the year ending 31 October 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 Charles Edward Stuart Black
Director
16/07/2024
The notes on pages 2 to 5 form part of these financial statements.
Page 1
Page 2
Notes to the Financial Statements
1. General Information
Blacks Transport Limited is a private company, limited by shares, incorporated in Scotland, registered number SC089157 . The registered office is 113 George Street, Dunoon, PA23 8BS.
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 for goods supplied and services rendered, net of discounts and Value Added Tax.
Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
2.3. Tangible Fixed Assets and Depreciation
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accummulated depreciation and impairment losses.  Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.
Depreciation
In the opinion of the Director that depreciation should not be provided on buildings because the likely residual value will be equal to or in excess of the net book value.
Plant & Machinery 33% straight line & 10% on reducing balance
Motor Vehicles 25% reducing balance
2.4. Leasing and Hire Purchase Contracts
Assets held under finance leases and hire purchase contracts are recognised in the statement of financial position as assets and liabilities at the lower of the fair value of the assets and the present value of the minimum lease payments, which is determined at the inception of the lease term. Any initial direct costs of the lease are added to the amount recognised as an asset.
Lease payments are apportioned between the finance charges and reduction of the outstanding lease liability using the effective interest method. Finance charges are allocated to each period so as to produce a constant rate of interest on the remaining balance of the liability.
2.5. Stocks and Work in Progress
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.
Page 2
Page 3
2.6. Financial Instruments
A financial asset or a financial liability is recognised only when the company becomes a party to the contractual provisions of the instrument.
Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.
Debt instruments are subsequently measured at amortised cost.
Where investments in non-convertible preference shares and non-puttable ordinary shares or preference shares are publicly traded or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value with changes in fair value recognised in profit or loss. All other such investments are subsequently measured at cost less impairment.
Other financial instruments, including derivatives, are initially recognised at fair value, unless payment for an asset is deferred beyond normal business terms or financed at a rate of interest that is not a market rate, in which case the asset is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.
Other financial instruments are subsequently measured at fair value, with any changes recognised in profit or loss, with the exception of hedging instruments in a designated hedging relationship.
Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately.
For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets are either assessed individually or grouped on the basis of similar credit risk characteristics.
Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.
2.7. Pensions
The company operates a defined contribution scheme.  Contributions payable to the company's pension scheme are charged to the profit and loss in the period to which they relate.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 13 (2023: 14)
13 14
4. Tangible Assets
Land & Property
Freehold Plant & Machinery Motor Vehicles Total
£ £ £ £
Cost
As at 1 November 2023 60,588 27,573 730,494 818,655
Additions 6,837 - 129,900 136,737
Disposals - - (330,107 ) (330,107 )
As at 31 October 2024 67,425 27,573 530,287 625,285
Depreciation
As at 1 November 2023 - 14,909 454,123 469,032
Provided during the period - 1,572 48,627 50,199
Disposals - - (221,860 ) (221,860 )
As at 31 October 2024 - 16,481 280,890 297,371
Net Book Value
As at 31 October 2024 67,425 11,092 249,397 327,914
As at 1 November 2023 60,588 12,664 276,371 349,623
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Page 4
5. Stocks
2024 2023
£ £
Stock 16,760 20,200
6. Debtors
2024 2023
£ £
Due within one year
Trade debtors 112,589 137,280
Other debtors 289,061 189,667
401,650 326,947
7. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Net obligations under finance lease and hire purchase contracts 104,582 82,519
Trade creditors 70,305 65,714
Bank loans and overdrafts 71,077 85,332
Other creditors 16,820 68,483
Taxation and social security 8,513 37,422
271,297 339,470
8. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Net obligations under finance lease and hire purchase contracts 129,297 24,754
Other creditors 67,696 67,696
196,993 92,450
9. Obligations Under Finance Leases and Hire Purchase
2024 2023
£ £
The future minimum finance lease payments are as follows:
Not later than one year 104,582 82,519
Later than one year and not later than five years 129,297 24,754
233,879 107,273
233,879 107,273
10. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 10,000 10,000
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Page 5
11. Directors Advances, Credits and Guarantees
Included within Creditors are the following loans from directors:
As at 1 November 2023 Amounts advanced Amounts repaid Amounts written off As at 31 October 2024
£ £ £ £ £
Mr Charles Black (66,196 ) - - - (66,196 )
Mr Charles Black (1,500 ) - - - (1,500 )
The above loan is unsecured, interest free and repayable on demand.
12. Related Party Transactions
Black of Dunoon (Bakers) Limited
Mr C D C Black is a director and majority shareholder in the above company which is registered in Scotland.  Mr C E S Black is also a director of the above company.
- Blacks Transport Limited provided services to Black of Dunoon (Bakers) Limited to the value of £6,360.  These transactions were in the normal course of business on an arms length basis.
- During the year the company purchased £3,418 of goods and services from the company.  These transactions were in the normal course of business on an arms length basis.
- At 31 October 2024 the amount due to the company by Black of Dunoon (Bakers) Limited and included in other debtors was £109,157.
C M Black Distribution
Messrs C D C Black & C E S Black are partners in the above partnership.
- During the year the company provided goods and services of £81,330 to the partnership.  These transactions were in the normal course of business on an arms length basis.
- During the year the company purchased £(11,713) of goods and services from the partnership.  These transactions were in the normal course of business on an arms length basis.
- At 31 October 2024 the amount due to the company by C M Black Distribution and included in other debtors was £83,849.
R & S Distribution
Mr C E S Black is a partner in the above partnership.
- At 31 October 2024 the amount due to the company by R & S Distribution and included in other debtors was £3,756
ULTIMATE CONTROLLING PARTY
The ultimate controlling party is Mr C D C Black.
13. Secured Debts
The following secured debts are included within creditors:
Bank Overdrafts
31.10.24 £71,077
31.10.23 £85,332
The bank holds a Bond and Floating Charge over the assets of the company.
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