Acorah Software Products - Accounts Production 6.9.025 false true false 1 April 2017 31 March 2018 31 March 2018 05014340 Mr Alastair McHarg Mr Anthony Sinclair Mr John McHarg iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 05014340 2017-03-31 05014340 2018-03-31 05014340 2017-04-01 2018-03-31 05014340 frs-core:CurrentFinancialInstruments 2018-03-31 05014340 frs-core:CurrentFinancialInstruments 2017-04-01 2018-03-31 05014340 frs-core:Non-currentFinancialInstruments 2018-03-31 05014340 frs-core:Non-currentFinancialInstruments 2017-04-01 2018-03-31 05014340 frs-core:CurrentFinancialInstruments 2017-04-01 2018-03-31 05014340 frs-core:CurrentFinancialInstruments 2018-03-31 05014340 frs-core:AfterOneYear 2017-04-01 2018-03-31 05014340 frs-core:BetweenOneFiveYears 2017-04-01 2018-03-31 05014340 frs-core:BetweenOneFiveYears 2018-03-31 05014340 frs-core:ComputerEquipment 2018-03-31 05014340 frs-core:ComputerEquipment 2017-04-01 2018-03-31 05014340 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dpl-frs:Item11 2016-04-01 2017-03-31 05014340 dpl-frs:AdministrativeExpenses dpl-frs:Item11 2016-04-01 2017-03-31 05014340 dpl-frs:Item12 2016-04-01 2017-03-31 05014340 dpl-frs:Item12 2016-03-31 05014340 dpl-frs:Item12 2017-03-31 05014340 dpl-frs:CostSales dpl-frs:Item12 2016-04-01 2017-03-31 05014340 dpl-frs:CostSales dpl-frs:Item12 2016-03-31 05014340 dpl-frs:CostSales dpl-frs:Item12 2017-03-31 05014340 dpl-frs:DistributionCosts dpl-frs:Item12 2016-04-01 2017-03-31 05014340 dpl-frs:AdministrativeExpenses dpl-frs:Item12 2016-04-01 2017-03-31 05014340 1 2016-04-01 2017-03-31 05014340 frs-countries:EnglandWales 2016-04-01 2017-03-31
Registered number: 05014340
Commercial Car Components Logistics Limited
Unaudited Financial Statements
For The Year Ended 31 March 2018
Unaudited Financial Statements
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—6
Balance Sheet
Registered number: 05014340
2018 2017
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 3 64,943 60,675
64,943 60,675
CURRENT ASSETS
Stocks 4 851,418 818,495
Debtors 5 512,255 504,836
Cash at bank and in hand 6,046 3,746
1,369,719 1,327,077
Creditors: Amounts Falling Due Within One Year 6 (644,428 ) (618,936 )
NET CURRENT ASSETS (LIABILITIES) 725,291 708,141
TOTAL ASSETS LESS CURRENT LIABILITIES 790,234 768,816
Creditors: Amounts Falling Due After More Than One Year 7 (354,327 ) (404,450 )
PROVISIONS FOR LIABILITIES
Deferred Taxation 9 (12,130 ) (11,867 )
NET ASSETS 423,777 352,499
CAPITAL AND RESERVES
Called up share capital 10 1,000 1,000
Share premium account 99,749 99,749
Profit and Loss Account 323,028 251,750
SHAREHOLDERS' FUNDS 423,777 352,499
Page 1
For the year ending 31 March 2018 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
  • 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 Alastair McHarg
27th April 2018

The notes on pages 3 to 6 form part of these financial statements.
Page 2
Notes to the Financial Statements
1. Accounting Policies
1.1. Basis of Preparation of Financial Statements
The financial statements are prepared under the historical cost convention and in accordance with the FRS 102 Section 1A Small Entities - The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.
1.2. Going Concern Disclosure
The directors have not identified any material uncertainties related to events or conditions that may cast significant doubt about the company's ability to continue as a going concern.
1.3. 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 form the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover form 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.
1.4. 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 20% reducing balance
Fixtures & Fittings 20% reducing balance
Computer Equipment 33% reducing balance
1.5. Leasing and Hire Purchase Contracts
Assets obtained under hire purchase contracts and 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 profit and loss account as incurred.
1.6. 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.
1.7. Foreign Currencies
Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate ruling on the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
Page 3
1.8. 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.
1.9. Pensions
The company operates a defined pension contribution scheme. Contributions are charged to the profit and loss account as they become payable in accordance with the rules of the scheme.
2. Average Number of Employees
Average number of employees, including directors, during the year was 9 ( 2017: 8 )
3. Tangible Assets
Plant & Machinery Fixtures & Fittings Computer Equipment Total
£ £ £ £
Cost
As at 1 April 2017 64,508 45,409 9,736 119,653
Additions 15,250 5,471 194 20,915
As at 31 March 2018 79,758 50,880 9,930 140,568
Depreciation
As at 1 April 2017 31,843 19,675 7,460 58,978
Provided during the period 9,583 6,241 823 16,647
As at 31 March 2018 41,426 25,916 8,283 75,625
Net Book Value
As at 31 March 2018 38,332 24,964 1,647 64,943
As at 1 April 2017 32,665 25,734 2,276 60,675
Page 4
4. Stocks
2018 2017
£ £
Stock - finished goods 851,418 818,495
851,418 818,495
5. Debtors
2018 2017
£ £
Due within one year
Trade debtors 303,401 407,532
Prepayments and accrued income 155,487 36,643
Other debtors 10,000 32,007
VAT 43,367 28,654
512,255 504,836
6. Creditors: Amounts Falling Due Within One Year
2018 2017
£ £
Net obligations under finance lease and hire purchase contracts 5,173 5,173
Trade creditors 229,846 229,868
Bank loans and overdrafts 144,607 137,621
Other taxes and social security 2,453 3,275
Other creditors 4,670 6,137
Accruals and deferred income 118,327 104,650
Directors' loan accounts 139,352 132,212
644,428 618,936
7. Creditors: Amounts Falling Due After More Than One Year
2018 2017
£ £
Net obligations under finance lease and hire purchase contracts 7,425 12,598
Bank loans 57,470 72,586
Other creditors 289,432 319,266
354,327 404,450
Other creditors include a balance of £289,432 (2017: £319,266) at year end which is a long term loan from Invicta Offshore. Interest rate 4% above 1 month LIBOR compounded monthly.
Page 5
8. Obligations Under Finance Leases and Hire Purchase
2018 2017
£ £
The maturity of these amounts is as follows:
Amounts Payable:
Within one year 5,173 5,173
Between one and five years 7,425 12,598
12,598 17,771
12,598 17,771
9. Deferred Taxation
The provision for deferred taxation is made up of accelerated capital allowances
2018 2017
£ £
Deferred tax 12,130 11,867
12,130 11,867
10. Share Capital
2018 2017
Allotted, Called up and fully paid 1,000 1,000
Value Number 2018 2017
Allotted, called up and fully paid £ £ £
Ordinary A shares 1 998 998 998
Ordinary B shares 1 2 2 2
1000 1,000 1,000
11. Controlling Party
The company's controlling party is Invicta Offshore by virtue of holding 501 A Ordinary shares.
12. General Information
Commercial Car Components Logistics Limited is a private company, limited by shares, incorporated in England & Wales, registered number 05014340. The registered office is 82 Wandsworth Bridge Road, London, SW6 2TF.
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