Acorah Software Products - Accounts Production 12.4.009 false No description of principal activity true Mr Kevin Mercer true 1 August 2021 31 July 2022 31 July 2022 6320041 Mr Kevin Mercer iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 6320041 2021-07-31 6320041 2022-07-31 6320041 2021-08-01 2022-07-31 6320041 frs-core:CurrentFinancialInstruments 2022-07-31 6320041 frs-core:CurrentFinancialInstruments 2021-08-01 2022-07-31 6320041 frs-core:Non-currentFinancialInstruments 2022-07-31 6320041 frs-core:Non-currentFinancialInstruments 2021-08-01 2022-07-31 6320041 frs-core:CurrentFinancialInstruments 2021-08-01 2022-07-31 6320041 frs-core:CurrentFinancialInstruments 2022-07-31 6320041 frs-core:AfterOneYear 2021-08-01 2022-07-31 6320041 frs-core:BetweenOneFiveYears 2021-08-01 2022-07-31 6320041 frs-core:BetweenOneFiveYears 2022-07-31 6320041 frs-core:ComputerEquipment 2022-07-31 6320041 frs-core:ComputerEquipment 2021-08-01 2022-07-31 6320041 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Registered number: 6320041
Mercer Panel Systems Limited
Director's Report and
Financial Statements
For The Year Ended 31 July 2022
Jewell & Dowd Accountancy Services

54 St James Street
Liverpool
Merseyside
L1 0AB
Director's Report and Financial Statements
Contents
Page
Company Information 1
Director's Report 2
Accountant's Report 3
Profit and Loss Account 4
Balance Sheet 5
Notes to the Financial Statements 6—8
Page 1
Company Information
Director Mr Kevin Mercer
Company Number 6320041
Registered Office 193 Church Road
Litherland
Liverpool
Merseyside
L21 7LL
Business 193 Church Road
Litherland
Liverpool
Merseyside
L21 7LL
Accountants Jewell & Dowd Accountancy Services
54 St James Street
Liverpool
Merseyside
L1 0AB
Page 1
Page 2
Director's Report
The director presents his report and the financial statements for the year ended 31 July 2022 .
Statement of Director's Responsibilities
The director is responsible for preparing the Directors' Report and the financial statements in accordance with applicable law and regulations.
Company law requires the director to prepare financial statements for each financial year. Under that law the director has elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). The financial statements are required by law to give a true and fair view of the state of affairs of the company and of the profit or loss for that period. In preparing the financial statements the director is required to:
  • select suitable accounting policies and then apply them consistently;
  • make judgments and accounting estimates that are reasonable and prudent;
  • prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.
The director is responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. He is also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
Directors
The directors who held office during the year were as follows:
Mr Kevin Mercer
Small Company Rules
This report has been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.
On behalf of the board
Mr Kevin Mercer
Director
13/09/2022
Page 2
Page 3
Accountant's Report
This report is made to the Company's Board of Directors, as a body, in accordance with the terms of our engagement. Our work has been undertaken so that we might compile the financial statements that we have been engaged to compile, report to the Company's Board of Directors that we have done so, and state those matters that we have agreed to state to them in this report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the Company and the Company's Board of Directors, as a body, for our work or for this report.
You have acknowledged on the balance sheet as at year ended 31 July 2022 your duty to ensure that the company has kept proper accounting records and to prepare financial statements that give a true and fair view under the Companies Act 2006. You consider that the company is exempt from the statutory requirement for an audit for the year.
We have not been instructed to carry out an audit of the financial statements. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the financial statements
Signed
Jewell & Dowd
13/09/2022
Jewell & Dowd Accountancy Services
54 St James Street
Liverpool
Merseyside
L1 0AB
Page 3
Page 4
Profit and Loss Account
2022 2021
Notes £ £
TURNOVER 51,013 32,127
GROSS PROFIT 51,013 32,127
Administrative expenses (36,762 ) (29,836 )
Other operating income 1,569 9,356
OPERATING PROFIT AND PROFIT BEFORE TAXATION 15,820 11,647
Tax on Profit 5 (3,046 ) (390 )
PROFIT AFTER TAXATION BEING PROFIT FOR THE FINANCIAL YEAR 12,774 11,257
The notes on pages 6 to 8 form part of these financial statements.
Page 4
Page 5
Balance Sheet
2022 2021
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 6 965 1,177
965 1,177
CURRENT ASSETS
Debtors 7 3,425 1,158
Cash at bank and in hand 39,591 34,044
43,016 35,202
Creditors: Amounts Falling Due Within One Year 8 (3,833 ) (1,105 )
NET CURRENT ASSETS (LIABILITIES) 39,183 34,097
TOTAL ASSETS LESS CURRENT LIABILITIES 40,148 35,274
NET ASSETS 40,148 35,274
CAPITAL AND RESERVES
Called up share capital 9 2 2
Profit and Loss Account 40,146 35,272
SHAREHOLDERS' FUNDS 40,148 35,274
For the year ending 31 July 2022 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 in accordance with the provisions applicable to companies subject to the small companies' regime.
On behalf of the board
Mr Kevin Mercer
Director
13/09/2022
The notes on pages 6 to 8 form part of these financial statements.
Page 5
Page 6
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 Financial Reporting Standard for Smaller Entities (effective April 2008).
1.2. Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
1.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are stated at cost less depreciation. 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:
Motor Vehicles 18% - Reducing balance
1.4. 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.
2. Operating Profit
The operating profit is stated after charging:
2022 2021
£ £
Director's remuneration 15,611 13,523
Depreciation of tangible fixed assets 212 258
3. Staff Costs
Staff costs, including directors' remuneration, were as follows:
2022 2021
£ £
Wages and salaries 15,611 13,523
Social security costs 873 628
16,484 14,151
4. Average Number of Employees
Average number of employees, including directors, during the year was as follows: 1 (2021: 1)
1 1
Page 6
Page 7
5. Tax on Profit
Tax Rate 2022 2021
2022 2021 £ £
UK Corporation Tax 19.0% 19.0% 3,046 390
Total Current Tax Charge 3,046 390
Total tax charge for the period 3,046 390
2022 2021
£ £
Profit before tax 15,820 11,647
Breakdown of Tax Charge is:
Tax on profit at 19% (UK standard rate) 3,006 2,213
Goodwill/depreciation not allowed for tax 40 49
Tax losses utilised - (1,872 )
Total tax charge for the period 3,046 390
6. Tangible Assets
Motor Vehicles
£
Cost
As at 1 August 2021 7,019
As at 31 July 2022 7,019
Depreciation
As at 1 August 2021 5,842
Provided during the period 212
As at 31 July 2022 6,054
Net Book Value
As at 31 July 2022 965
As at 1 August 2021 1,177
7. Debtors
2022 2021
£ £
Due within one year
Trade debtors 3,417 1,150
VAT 8 8
3,425 1,158
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8. Creditors: Amounts Falling Due Within One Year
2022 2021
£ £
Trade creditors (1 ) -
Corporation tax 3,046 390
Other taxes and social security 152 64
Accruals and deferred income 600 500
Director's loan account 36 151
3,833 1,105
9. Share Capital
2022 2021
Allotted, Called up and fully paid 2 2
10. Directors Advances, Credits and Guarantees
Dividends paid to directors
2022 2021
£ £
Mr Kevin Mercer 7,900 6,500
11. Dividends
2022 2021
£ £
On equity shares:
Final dividend paid 7,900 6,500
7,900 6,500
12. Ultimate Controlling Party
The company's ultimate controlling party is Mr Kevin Mercer by virtue of his ownership of 100% of the issued share capital in the company.
13. General Information
Mercer Panel Systems Limited is a private company, limited by shares, incorporated in England & Wales, registered number 6320041 . The registered office is 193 Church Road, Litherland, Liverpool, Merseyside, L21 7LL.
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