Acorah Software Products - Accounts Production 14.5.501 false true 31 July 2022 1 August 2021 false 1 August 2022 31 July 2023 31 July 2023 05534364 Mr Alex Mc Sheffrey Mrs Natalie Mc Sheffrey iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 05534364 2022-07-31 05534364 2023-07-31 05534364 2022-08-01 2023-07-31 05534364 frs-core:CurrentFinancialInstruments 2023-07-31 05534364 frs-core:Non-currentFinancialInstruments 2023-07-31 05534364 frs-core:ComputerEquipment 2023-07-31 05534364 frs-core:ComputerEquipment 2022-08-01 2023-07-31 05534364 frs-core:ComputerEquipment 2022-07-31 05534364 frs-core:FurnitureFittings 2023-07-31 05534364 frs-core:FurnitureFittings 2022-08-01 2023-07-31 05534364 frs-core:FurnitureFittings 2022-07-31 05534364 frs-core:MotorVehicles 2023-07-31 05534364 frs-core:MotorVehicles 2022-08-01 2023-07-31 05534364 frs-core:MotorVehicles 2022-07-31 05534364 frs-core:PlantMachinery 2023-07-31 05534364 frs-core:PlantMachinery 2022-08-01 2023-07-31 05534364 frs-core:PlantMachinery 2022-07-31 05534364 frs-core:ShareCapital 2023-07-31 05534364 frs-core:RetainedEarningsAccumulatedLosses 2023-07-31 05534364 frs-bus:PrivateLimitedCompanyLtd 2022-08-01 2023-07-31 05534364 frs-bus:FilletedAccounts 2022-08-01 2023-07-31 05534364 frs-bus:SmallEntities 2022-08-01 2023-07-31 05534364 frs-bus:AuditExempt-NoAccountantsReport 2022-08-01 2023-07-31 05534364 frs-bus:SmallCompaniesRegimeForAccounts 2022-08-01 2023-07-31 05534364 frs-bus:Director1 2022-08-01 2023-07-31 05534364 frs-bus:CompanySecretary1 2022-08-01 2023-07-31 05534364 frs-countries:EnglandWales 2022-08-01 2023-07-31 05534364 2021-07-31 05534364 2022-07-31 05534364 2021-08-01 2022-07-31 05534364 frs-core:CurrentFinancialInstruments 2022-07-31 05534364 frs-core:Non-currentFinancialInstruments 2022-07-31 05534364 frs-core:ShareCapital 2022-07-31 05534364 frs-core:RetainedEarningsAccumulatedLosses 2022-07-31
Registered number: 05534364
Ajm Drives & Controls Ltd
Financial Statements
For The Year Ended 31 July 2023
G Brown & Co Ltd
Accountants & Taxation Consultants
37a Wakefield Road
Tandem
Huddersfield
HD5 0AN
Financial Statements
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—4
Page 1
Balance Sheet
Registered number: 05534364
2023 2022
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 31,347 41,218
31,347 41,218
CURRENT ASSETS
Debtors 5 203,807 170,664
Cash at bank and in hand 118,549 116,568
322,356 287,232
Creditors: Amounts Falling Due Within One Year 6 (184,619 ) (194,543 )
NET CURRENT ASSETS (LIABILITIES) 137,737 92,689
TOTAL ASSETS LESS CURRENT LIABILITIES 169,084 133,907
Creditors: Amounts Falling Due After More Than One Year 7 (40,355 ) (55,698 )
NET ASSETS 128,729 78,209
CAPITAL AND RESERVES
Called up share capital 8 200 200
Profit and Loss Account 128,529 78,009
SHAREHOLDERS' FUNDS 128,729 78,209
Page 1
Page 2
For the year ending 31 July 2023 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 Alex Mc Sheffrey
Director
25/03/2024
The notes on pages 3 to 4 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Ajm Drives & Controls Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 05534364 . The registered office is Unit B6 Gledholt Business Park, Allen Row, Paddock, Huddersfield, HD1 4SB.
2. Accounting Policies
2.1. 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).
2.2. Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
2.3. 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:
Plant & Machinery 20% Reducing Balance
Motor Vehicles 20% Reducing Balance
Fixtures & Fittings 20% Reducing Balance
Computer Equipment 20% Reducing Balance
2.4. 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.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 6 (2022: 6)
6 6
4. Tangible Assets
Plant & Machinery Motor Vehicles Fixtures & Fittings Computer Equipment Total
£ £ £ £ £
Cost
As at 1 August 2022 23,483 67,405 7,306 9,613 107,807
Additions - - 540 - 540
As at 31 July 2023 23,483 67,405 7,846 9,613 108,347
...CONTINUED
Page 3
Page 4
Depreciation
As at 1 August 2022 19,720 33,289 6,248 7,332 66,589
Provided during the period 940 8,529 372 570 10,411
As at 31 July 2023 20,660 41,818 6,620 7,902 77,000
Net Book Value
As at 31 July 2023 2,823 25,587 1,226 1,711 31,347
As at 1 August 2022 3,763 34,116 1,058 2,281 41,218
5. Debtors
2023 2022
£ £
Due within one year
Trade debtors 202,071 170,664
VAT 1,736 -
203,807 170,664
6. Creditors: Amounts Falling Due Within One Year
2023 2022
£ £
Trade creditors 139,915 170,886
Corporation tax 24,724 7,112
PAYE/CIS tax 2,263 310
VAT - 10,078
Other creditors 384 652
Accruals and deferred income 4,112 4,863
Director's loan account 13,221 642
184,619 194,543
7. Creditors: Amounts Falling Due After More Than One Year
2023 2022
£ £
Bank loans 40,355 55,698
40,355 55,698
8. Share Capital
2023 2022
£ £
Allotted, Called up and fully paid 200 200
9. Directors Advances, Credits and Guarantees
Dividends paid to directors
Page 4