Acorah Software Products - Accounts Production 16.5.460 false true 31 May 2024 1 June 2023 false 1 June 2024 31 May 2025 31 May 2025 SC093573 Mr James Robertson Mrs Maureen Robertson iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure SC093573 2024-05-31 SC093573 2025-05-31 SC093573 2024-06-01 2025-05-31 SC093573 frs-core:CurrentFinancialInstruments 2025-05-31 SC093573 frs-core:Non-currentFinancialInstruments 2025-05-31 SC093573 frs-core:BetweenOneFiveYears 2025-05-31 SC093573 frs-core:ComputerEquipment 2025-05-31 SC093573 frs-core:ComputerEquipment 2024-06-01 2025-05-31 SC093573 frs-core:ComputerEquipment 2024-05-31 SC093573 frs-core:FurnitureFittings 2025-05-31 SC093573 frs-core:FurnitureFittings 2024-06-01 2025-05-31 SC093573 frs-core:FurnitureFittings 2024-05-31 SC093573 frs-core:LandBuildings frs-core:OwnedOrFreeholdAssets 2025-05-31 SC093573 frs-core:LandBuildings frs-core:OwnedOrFreeholdAssets 2024-06-01 2025-05-31 SC093573 frs-core:LandBuildings frs-core:OwnedOrFreeholdAssets 2024-05-31 SC093573 frs-core:MotorVehicles 2025-05-31 SC093573 frs-core:MotorVehicles 2024-06-01 2025-05-31 SC093573 frs-core:MotorVehicles 2024-05-31 SC093573 frs-core:PlantMachinery 2025-05-31 SC093573 frs-core:PlantMachinery 2024-06-01 2025-05-31 SC093573 frs-core:PlantMachinery 2024-05-31 SC093573 frs-core:WithinOneYear 2025-05-31 SC093573 frs-core:ShareCapital 2025-05-31 SC093573 frs-core:RetainedEarningsAccumulatedLosses 2025-05-31 SC093573 frs-bus:PrivateLimitedCompanyLtd 2024-06-01 2025-05-31 SC093573 frs-bus:FilletedAccounts 2024-06-01 2025-05-31 SC093573 frs-bus:SmallEntities 2024-06-01 2025-05-31 SC093573 frs-bus:AuditExempt-NoAccountantsReport 2024-06-01 2025-05-31 SC093573 frs-bus:SmallCompaniesRegimeForAccounts 2024-06-01 2025-05-31 SC093573 frs-bus:Director1 2024-06-01 2025-05-31 SC093573 frs-bus:Director2 2024-06-01 2025-05-31 SC093573 frs-countries:Scotland 2024-06-01 2025-05-31 SC093573 2023-05-31 SC093573 2024-05-31 SC093573 2023-06-01 2024-05-31 SC093573 frs-core:CurrentFinancialInstruments 2024-05-31 SC093573 frs-core:Non-currentFinancialInstruments 2024-05-31 SC093573 frs-core:BetweenOneFiveYears 2024-05-31 SC093573 frs-core:ComputerEquipment 2023-06-01 2024-05-31 SC093573 frs-core:MotorVehicles 2023-06-01 2024-05-31 SC093573 frs-core:PlantMachinery 2023-06-01 2024-05-31 SC093573 frs-core:WithinOneYear 2024-05-31 SC093573 frs-core:ShareCapital 2024-05-31 SC093573 frs-core:RetainedEarningsAccumulatedLosses 2024-05-31
Registered number: SC093573
Printwell Limited
Unaudited Financial Statements
For The Year Ended 31 May 2025
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—7
Page 1
Balance Sheet
Registered number: SC093573
2025 2024
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 914,940 934,369
914,940 934,369
CURRENT ASSETS
Stocks 5 7,800 8,800
Debtors 6 168,879 194,528
Cash at bank and in hand 25,431 11,079
202,110 214,407
Creditors: Amounts Falling Due Within One Year 7 (464,509 ) (420,747 )
NET CURRENT ASSETS (LIABILITIES) (262,399 ) (206,340 )
TOTAL ASSETS LESS CURRENT LIABILITIES 652,541 728,029
Creditors: Amounts Falling Due After More Than One Year 8 (50,167 ) (91,171 )
PROVISIONS FOR LIABILITIES
Deferred Taxation (137,700 ) (195,845 )
NET ASSETS 464,674 441,013
CAPITAL AND RESERVES
Called up share capital 11 9,102 9,102
Profit and Loss Account 455,572 431,911
SHAREHOLDERS' FUNDS 464,674 441,013
Page 1
Page 2
For the year ending 31 May 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 Robertson
Director
28/10/2025
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
Printwell Limited is a private company, limited by shares, incorporated in Scotland, registered number SC093573 . The registered office is 3 Callon Street, Airdrie, Lanarkshire, ML6 6BW.
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 0%
Plant & Machinery 10% Reducing balance
Motor Vehicles 25% Reducing balance
Fixtures & Fittings 20% Reducing balance
Computer Equipment 20% Reducing balance
2.4. 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 the profit and loss account as incurred.
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.
Page 3
Page 4
2.6. 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 and deferred tax are recognised in profit or loss for the year, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case current and deferred tax are recognised in other comprehensive income or directly in equity respectively.
2.7. Government Grant
Government grants are recognised in the profit and loss account in an appropriate manner that matches them with the expenditure towards which they are intended to contribute.
Grants for immediate financial support or to cover costs already incurred are recognised immediately in the profit and loss account. Grants towards general activities of the entity over a specific period are recognised in the profit and loss account over that period.
Grants towards fixed assets are recognised over the expected useful lives of the related assets and are treated as deferred income and released to the profit and loss account over the useful life of the asset concerned.
All grants in the profit and loss account are recognised when all conditions for receipt have been complied with.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 13 (2024: 13)
13 13
4. Tangible Assets
Land & Property
Freehold Plant & Machinery Motor Vehicles Fixtures & Fittings
£ £ £ £
Cost or Valuation
As at 1 June 2024 600,000 1,441,446 28,490 44,675
Additions - 590 - -
As at 31 May 2025 600,000 1,442,036 28,490 44,675
Depreciation
As at 1 June 2024 - 1,133,485 11,396 44,136
Provided during the period - 30,855 4,274 108
As at 31 May 2025 - 1,164,340 15,670 44,244
Net Book Value
As at 31 May 2025 600,000 277,696 12,820 431
As at 1 June 2024 600,000 307,961 17,094 539
Page 4
Page 5
Computer Equipment Total
£ £
Cost or Valuation
As at 1 June 2024 95,529 2,210,140
Additions 19,004 19,594
As at 31 May 2025 114,533 2,229,734
Depreciation
As at 1 June 2024 86,754 1,275,771
Provided during the period 3,786 39,023
As at 31 May 2025 90,540 1,314,794
Net Book Value
As at 31 May 2025 23,993 914,940
As at 1 June 2024 8,775 934,369
Included above are assets held under finance leases or hire purchase contracts with a net book value as follows:
2025 2024
£ £
Plant & Machinery 52,650 68,014
Motor Vehicles 12,820 17,094
Computer Equipment 15,918 -
81,388 85,108
Cost or valuation as at 31 May 2025 represented by:
Land & Property
Freehold Plant & Machinery Motor Vehicles Fixtures & Fittings
£ £ £ £
At cost - 1,442,036 28,490 44,675
At valuation 600,000 - - -
600,000 1,442,036 28,490 44,675
Computer Equipment Total
£ £
At cost 114,533 1,629,734
At valuation - 600,000
114,533 2,229,734
The freehold property was revalued on an open market value basis by DM Hall Chartered Surveyors on 31st July 2024 for £600,000.The Directors believe that there is no material difference between the valuation at that date and the company's year end date of 31st May 2025.
Page 5
Page 6
5. Stocks
2025 2024
£ £
Stock 7,800 8,800
6. Debtors
2025 2024
£ £
Due within one year
Trade debtors 151,621 184,475
VAT< 1 Year 17,258 10,053
168,879 194,528
7. Creditors: Amounts Falling Due Within One Year
2025 2024
£ £
Net obligations under finance lease and hire purchase contracts 21,039 13,973
Trade creditors 162,292 182,416
Bank loans and overdrafts 102,373 125,652
Corporation tax 26,652 20,479
P.A.Y.E 3,812 4,311
Other creditors 3,428 5,344
Accruals and deferred income 80,710 2,959
Directors' loan accounts 64,203 65,613
464,509 420,747
8. Creditors: Amounts Falling Due After More Than One Year
2025 2024
£ £
Net obligations under finance lease and hire purchase contracts 37,779 60,398
Bank loans 12,388 30,269
Government grants after one year - 504
50,167 91,171
9. Secured Creditors
Of the creditors falling due within and after more than one year the following amounts are secured.
The Royal Bank of Scotland plc holds a bond and floating charge over the company's assets as security for the bank
overdraft.
The hire purchase creditor is secured over the corresponding assets on hire purchase contracts.
The Funding Circle Loan is part of the Cornonavirus Business Interruption Loan Scheme and is governed and guaranteed by the British Business bank on behalf of, and with the financial backing of the UK Government. 
2025 2024
£ £
Net obligations under finance lease and hire purchase contracts 58,818 74,371
Bank loans and overdrafts 85,741 112,351
Page 6
Page 7
10. Obligations Under Finance Leases and Hire Purchase
2025 2024
£ £
The future minimum finance lease payments are as follows:
Not later than one year 21,039 13,973
Later than one year and not later than five years 37,779 60,398
58,818 74,371
58,818 74,371
11. Share Capital
2025 2024
£ £
Allotted, Called up and fully paid 9,102 9,102
Page 7