Acorah Software Products - Accounts Production 19.4.300 false true 31 December 2024 1 January 2024 false 1 January 2025 31 December 2025 31 December 2025 SC570779 Mr David Wallace Mrs Hazel Wallace Mrs Katherine Williamson iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure SC570779 2024-12-31 SC570779 2025-12-31 SC570779 2025-01-01 2025-12-31 SC570779 frs-core:CurrentFinancialInstruments 2025-12-31 SC570779 frs-core:Non-currentFinancialInstruments 2025-12-31 SC570779 frs-core:BetweenOneFiveYears 2025-12-31 SC570779 frs-core:ComputerEquipment 2025-12-31 SC570779 frs-core:ComputerEquipment 2025-01-01 2025-12-31 SC570779 frs-core:ComputerEquipment 2024-12-31 SC570779 frs-core:NetGoodwill 2025-12-31 SC570779 frs-core:NetGoodwill 2025-01-01 2025-12-31 SC570779 frs-core:NetGoodwill 2024-12-31 SC570779 frs-core:LandBuildings frs-core:OwnedOrFreeholdAssets 2025-12-31 SC570779 frs-core:LandBuildings frs-core:OwnedOrFreeholdAssets 2025-01-01 2025-12-31 SC570779 frs-core:LandBuildings frs-core:OwnedOrFreeholdAssets 2024-12-31 SC570779 frs-core:MotorVehicles 2025-12-31 SC570779 frs-core:MotorVehicles 2025-01-01 2025-12-31 SC570779 frs-core:MotorVehicles 2024-12-31 SC570779 frs-core:PlantMachinery 2025-12-31 SC570779 frs-core:PlantMachinery 2025-01-01 2025-12-31 SC570779 frs-core:PlantMachinery 2024-12-31 SC570779 frs-core:WithinOneYear 2025-12-31 SC570779 frs-core:ShareCapital 2025-12-31 SC570779 frs-core:RetainedEarningsAccumulatedLosses 2025-12-31 SC570779 frs-bus:PrivateLimitedCompanyLtd 2025-01-01 2025-12-31 SC570779 frs-bus:FilletedAccounts 2025-01-01 2025-12-31 SC570779 frs-bus:SmallEntities 2025-01-01 2025-12-31 SC570779 frs-bus:AuditExempt-NoAccountantsReport 2025-01-01 2025-12-31 SC570779 frs-bus:SmallCompaniesRegimeForAccounts 2025-01-01 2025-12-31 SC570779 frs-bus:Director1 2025-01-01 2025-12-31 SC570779 frs-bus:Director2 2025-01-01 2025-12-31 SC570779 frs-bus:Director3 2025-01-01 2025-12-31 SC570779 frs-core:CurrentFinancialInstruments 1 2025-12-31 SC570779 frs-countries:Scotland 2025-01-01 2025-12-31 SC570779 2023-12-31 SC570779 2024-12-31 SC570779 2024-01-01 2024-12-31 SC570779 frs-core:CurrentFinancialInstruments 2024-12-31 SC570779 frs-core:Non-currentFinancialInstruments 2024-12-31 SC570779 frs-core:BetweenOneFiveYears 2024-12-31 SC570779 frs-core:WithinOneYear 2024-12-31 SC570779 frs-core:ShareCapital 2024-12-31 SC570779 frs-core:RetainedEarningsAccumulatedLosses 2024-12-31 SC570779 frs-core:CurrentFinancialInstruments 1 2024-12-31
Registered number: SC570779
Wallace Caravans (Kirkcaldy) Limited
Unaudited Financial Statements
For The Year Ended 31 December 2025
Business Oxygen Limited
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—6
Page 1
Balance Sheet
Registered number: SC570779
2025 2024
Notes £ £ £ £
FIXED ASSETS
Intangible Assets 4 23,120 34,680
Tangible Assets 5 157,585 169,267
180,705 203,947
CURRENT ASSETS
Stocks 6 397,736 468,349
Debtors 7 20,450 25,083
Cash at bank and in hand 29,347 22,370
447,533 515,802
Creditors: Amounts Falling Due Within One Year 8 (401,133 ) (453,660 )
NET CURRENT ASSETS (LIABILITIES) 46,400 62,142
TOTAL ASSETS LESS CURRENT LIABILITIES 227,105 266,089
Creditors: Amounts Falling Due After More Than One Year 9 (219,075 ) (254,285 )
PROVISIONS FOR LIABILITIES
Deferred Taxation (2,206 ) (4,381 )
NET ASSETS 5,824 7,423
CAPITAL AND RESERVES
Called up share capital 11 300 300
Profit and Loss Account 5,524 7,123
SHAREHOLDERS' FUNDS 5,824 7,423
Page 1
Page 2
For the year ending 31 December 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 David Wallace
Director
06/09/2026
The notes on pages 3 to 6 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Wallace Caravans (Kirkcaldy) Limited is a private company, limited by shares, incorporated in Scotland, registered number SC570779 . The registered office is Wallace Caravan (Kirkcaldy) Ltd, Thornton Road, Kirkcaldy, KY1 3NW.
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. 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 profit and loss account over its estimated economic life of 10 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:
Freehold 0%
Plant & Machinery 25% straight line
Motor Vehicles 25% straight line
Computer Equipment 25% straight line
2.5. 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.
2.6. 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.
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2.7. 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.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 13 (2024: 13)
13 13
4. Intangible Assets
Goodwill
£
Cost
As at 1 January 2025 115,600
As at 31 December 2025 115,600
Amortisation
As at 1 January 2025 80,920
Provided during the period 11,560
As at 31 December 2025 92,480
Net Book Value
As at 31 December 2025 23,120
As at 1 January 2025 34,680
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Page 5
5. Tangible Assets
Land & Property
Freehold Plant & Machinery Motor Vehicles Computer Equipment Total
£ £ £ £ £
Cost
As at 1 January 2025 145,000 6,795 81,277 4,561 237,633
Additions - - - 367 367
Disposals - - (39,656 ) - (39,656 )
As at 31 December 2025 145,000 6,795 41,621 4,928 198,344
Depreciation
As at 1 January 2025 - 6,795 57,808 3,763 68,366
Provided during the period - - 11,597 452 12,049
Disposals - - (39,656 ) - (39,656 )
As at 31 December 2025 - 6,795 29,749 4,215 40,759
Net Book Value
As at 31 December 2025 145,000 - 11,872 713 157,585
As at 1 January 2025 145,000 - 23,469 798 169,267
6. Stocks
2025 2024
£ £
Stock 397,736 468,349
7. Debtors
2025 2024
£ £
Due within one year
Trade debtors 20,281 21,723
Prepayments and accrued income 169 525
Directors' loan accounts - 2,835
20,450 25,083
8. Creditors: Amounts Falling Due Within One Year
2025 2024
£ £
Net obligations under finance lease and hire purchase contracts 31,655 37,822
Trade creditors 342,079 370,319
Bank loans and overdrafts 4,900 9,800
Other taxes and social security 3,526 3,773
...CONTINUED
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Page 6
VAT 9,071 9,870
Sundry creditors 48 91
Accruals and deferred income 9,854 21,985
401,133 453,660
9. Creditors: Amounts Falling Due After More Than One Year
2025 2024
£ £
Net obligations under finance lease and hire purchase contracts 18,666 52,912
Bank loans - 4,900
Directors' loan account 200,409 196,473
219,075 254,285
10. Obligations Under Finance Leases and Hire Purchase
2025 2024
£ £
The future minimum finance lease payments are as follows:
Not later than one year 31,655 37,822
Later than one year and not later than five years 18,666 52,912
50,321 90,734
50,321 90,734
11. Share Capital
2025 2024
£ £
Allotted, Called up and fully paid 300 300
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