Acorah Software Products - Accounts Production 16.7.461 false true 29 February 2024 1 March 2023 false 1 March 2024 28 February 2025 28 February 2025 SC551800 Mr Derek Macaloney Derek Macaloney true iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure SC551800 2024-02-29 SC551800 2025-02-28 SC551800 2024-03-01 2025-02-28 SC551800 frs-core:CurrentFinancialInstruments 2025-02-28 SC551800 frs-core:Non-currentFinancialInstruments 2025-02-28 SC551800 frs-core:FurnitureFittings 2025-02-28 SC551800 frs-core:FurnitureFittings 2024-03-01 2025-02-28 SC551800 frs-core:FurnitureFittings 2024-02-29 SC551800 frs-core:LandBuildings frs-core:OwnedOrFreeholdAssets 2025-02-28 SC551800 frs-core:LandBuildings frs-core:OwnedOrFreeholdAssets 2024-03-01 2025-02-28 SC551800 frs-core:LandBuildings frs-core:OwnedOrFreeholdAssets 2024-02-29 SC551800 frs-core:MotorVehicles 2025-02-28 SC551800 frs-core:MotorVehicles 2024-03-01 2025-02-28 SC551800 frs-core:MotorVehicles 2024-02-29 SC551800 frs-core:PlantMachinery 2025-02-28 SC551800 frs-core:PlantMachinery 2024-03-01 2025-02-28 SC551800 frs-core:PlantMachinery 2024-02-29 SC551800 frs-core:WithinOneYear 2025-02-28 SC551800 frs-core:ShareCapital 2025-02-28 SC551800 frs-core:RetainedEarningsAccumulatedLosses 2025-02-28 SC551800 frs-bus:PrivateLimitedCompanyLtd 2024-03-01 2025-02-28 SC551800 frs-bus:FilletedAccounts 2024-03-01 2025-02-28 SC551800 frs-bus:SmallEntities 2024-03-01 2025-02-28 SC551800 frs-bus:AuditExempt-NoAccountantsReport 2024-03-01 2025-02-28 SC551800 frs-bus:SmallCompaniesRegimeForAccounts 2024-03-01 2025-02-28 SC551800 1 2024-03-01 2025-02-28 SC551800 frs-bus:Director1 2024-03-01 2025-02-28 SC551800 frs-bus:Director1 2024-02-29 SC551800 frs-bus:Director1 2025-02-28 SC551800 frs-countries:Scotland 2024-03-01 2025-02-28 SC551800 2023-02-28 SC551800 2024-02-29 SC551800 2023-03-01 2024-02-29 SC551800 frs-core:CurrentFinancialInstruments 2024-02-29 SC551800 frs-core:Non-currentFinancialInstruments 2024-02-29 SC551800 frs-core:BetweenOneFiveYears 2024-02-29 SC551800 frs-core:WithinOneYear 2024-02-29 SC551800 frs-core:ShareCapital 2024-02-29 SC551800 frs-core:RetainedEarningsAccumulatedLosses 2024-02-29
Registered number: SC551800
Euro-fab (Scotland) Ltd
Unaudited Financial Statements
For The Year Ended 28 February 2025
John McEwan Accounting Services
ACCA
60 Clove Mill Wynd
Larkhall
ML9 1NT
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—7
Page 1
Balance Sheet
Registered number: SC551800
2025 2024
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 367,263 362,539
367,263 362,539
CURRENT ASSETS
Stocks 5 192,768 183,552
Debtors 6 362,815 316,879
Cash at bank and in hand 14,828 76,009
570,411 576,440
Creditors: Amounts Falling Due Within One Year 7 (516,301 ) (434,355 )
NET CURRENT ASSETS (LIABILITIES) 54,110 142,085
TOTAL ASSETS LESS CURRENT LIABILITIES 421,373 504,624
Creditors: Amounts Falling Due After More Than One Year 8 (25,000 ) (76,052 )
NET ASSETS 396,373 428,572
CAPITAL AND RESERVES
Called up share capital 10 100 100
Profit and Loss Account 396,273 428,472
SHAREHOLDERS' FUNDS 396,373 428,572
Page 1
Page 2
For the year ending 28 February 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his 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 Derek Macaloney
Director
15/12/2025
The notes on pages 3 to 7 form part of these financial statements.
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Page 3
Notes to the Financial Statements
1. General Information
Euro-fab (Scotland) Ltd is a private company, limited by shares, incorporated in Scotland, registered number SC551800 . The registered office is 14a Newhouse Industrial Estate, Newhouse, Motherwell, ML1 5SG.
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 5% straight line
Plant & Machinery 10% and 25% reducing balance
Motor Vehicles 25% reducing balance
Fixtures & Fittings 25% 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.
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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
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 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.
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 asset reflects 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.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 12 (2024: 12)
12 12
4. Tangible Assets
Land & Property
Freehold Plant & Machinery Motor Vehicles Fixtures & Fittings Total
£ £ £ £ £
Cost
As at 1 March 2024 118,663 387,870 131,764 12,222 650,519
Additions - 68,000 6,250 487 74,737
As at 28 February 2025 118,663 455,870 138,014 12,709 725,256
...CONTINUED
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Depreciation
As at 1 March 2024 23,322 188,438 69,741 6,479 287,980
Provided during the period 9,454 41,932 17,069 1,558 70,013
As at 28 February 2025 32,776 230,370 86,810 8,037 357,993
Net Book Value
As at 28 February 2025 85,887 225,500 51,204 4,672 367,263
As at 1 March 2024 95,341 199,432 62,023 5,743 362,539
5. Stocks
2025 2024
£ £
Stock, work in progress and finished goods 192,768 183,552
6. Debtors
2025 2024
£ £
Due within one year
Trade debtors 147,815 243,654
Other debtors 215,000 71,170
VAT - 2,055
362,815 316,879
7. Creditors: Amounts Falling Due Within One Year
2025 2024
£ £
Net obligations under finance lease and hire purchase contracts 1,052 12,625
Trade creditors 362,149 292,920
Bank loans and overdrafts 50,000 50,000
Corporation tax 40,176 64,418
Other taxes and social security 39,667 11,978
VAT 18,035 -
Other creditors 3,193 419
Accruals and deferred income 1,995 1,995
Director's loan account 34 -
516,301 434,355
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8. Creditors: Amounts Falling Due After More Than One Year
2025 2024
£ £
Net obligations under finance lease and hire purchase contracts - 1,052
Bank loans 25,000 75,000
25,000 76,052
9. Obligations Under Finance Leases and Hire Purchase
2025 2024
£ £
The future minimum finance lease payments are as follows:
Not later than one year 1,052 12,625
Later than one year and not later than five years - 1,052
1,052 13,677
1,052 13,677
10. Share Capital
2025 2024
£ £
Allotted, Called up and fully paid 100 100
11. Directors Advances, Credits and Guarantees
Included within creditors  / (debtors) are the following loans from / (to) the director:
As at 1 March 2024 Amounts advanced Amounts repaid Amounts written off As at 28 February 2025
£ £ £ £ £
Mr Derek Macaloney - 34 - - 34
The above loan, which is due to the director, is interest free, unsecured, has no repayment terms and is repayable on demand.
12. Dividends
2025 2024
£ £
On equity shares:
Final dividend paid 39,000 40,500
13. Related Party Transactions
During the year the company paid dividends of £59,000 to the director (2024: £40,500)
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14. Ultimate Controlling Party
The company's ultimate controlling party is Derek Macaloney by virtue of his ownership of 100% of the issued share capital in the company.
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