Acorah Software Products - Accounts Production 14.5.601 false true true 31 July 2022 1 August 2021 false 1 August 2022 31 July 2023 31 July 2023 03574368 Mr P I Furness Mr A Rennie Mr T S McGrann iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 03574368 2022-07-31 03574368 2023-07-31 03574368 2022-08-01 2023-07-31 03574368 frs-core:CurrentFinancialInstruments 2023-07-31 03574368 frs-core:Non-currentFinancialInstruments 2023-07-31 03574368 frs-core:BetweenOneFiveYears 2023-07-31 03574368 frs-core:FurnitureFittings 2023-07-31 03574368 frs-core:FurnitureFittings 2022-08-01 2023-07-31 03574368 frs-core:FurnitureFittings 2022-07-31 03574368 frs-core:LandBuildings frs-core:OwnedOrFreeholdAssets 2023-07-31 03574368 frs-core:LandBuildings frs-core:OwnedOrFreeholdAssets 2022-08-01 2023-07-31 03574368 frs-core:LandBuildings frs-core:OwnedOrFreeholdAssets 2022-07-31 03574368 frs-core:PlantMachinery 2023-07-31 03574368 frs-core:PlantMachinery 2022-08-01 2023-07-31 03574368 frs-core:PlantMachinery 2022-07-31 03574368 frs-core:WithinOneYear 2023-07-31 03574368 frs-core:ShareCapital 2023-07-31 03574368 frs-core:RetainedEarningsAccumulatedLosses 2023-07-31 03574368 frs-bus:PrivateLimitedCompanyLtd 2022-08-01 2023-07-31 03574368 frs-bus:FilletedAccounts 2022-08-01 2023-07-31 03574368 frs-bus:SmallEntities 2022-08-01 2023-07-31 03574368 frs-bus:AuditExempt-NoAccountantsReport 2022-08-01 2023-07-31 03574368 frs-bus:SmallCompaniesRegimeForAccounts 2022-08-01 2023-07-31 03574368 frs-bus:Director1 2022-08-01 2023-07-31 03574368 frs-bus:Director2 2022-08-01 2023-07-31 03574368 frs-bus:CompanySecretary1 2022-08-01 2023-07-31 03574368 frs-countries:EnglandWales 2022-08-01 2023-07-31 03574368 2021-07-31 03574368 2022-07-31 03574368 2021-08-01 2022-07-31 03574368 frs-core:CurrentFinancialInstruments 2022-07-31 03574368 frs-core:Non-currentFinancialInstruments 2022-07-31 03574368 frs-core:BetweenOneFiveYears 2022-07-31 03574368 frs-core:WithinOneYear 2022-07-31 03574368 frs-core:ShareCapital 2022-07-31 03574368 frs-core:RetainedEarningsAccumulatedLosses 2022-07-31
Registered number: 03574368
MTB (Midlands) Limited
Unaudited Financial Statements
For The Year Ended 31 July 2023
Unaudited Financial Statements
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 03574368
2023 2022
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 561,884 597,276
561,884 597,276
CURRENT ASSETS
Stocks 5 16,026 23,767
Debtors 6 274,719 97,333
Cash at bank and in hand 194,607 30,248
485,352 151,348
Creditors: Amounts Falling Due Within One Year 7 (429,893 ) (173,296 )
NET CURRENT ASSETS (LIABILITIES) 55,459 (21,948 )
TOTAL ASSETS LESS CURRENT LIABILITIES 617,343 575,328
Creditors: Amounts Falling Due After More Than One Year 8 (18,528 ) (154,049 )
PROVISIONS FOR LIABILITIES
Deferred Taxation (75,479 ) (63,732 )
NET ASSETS 523,336 357,547
CAPITAL AND RESERVES
Called up share capital 11 100 100
Profit and Loss Account 523,236 357,447
SHAREHOLDERS' FUNDS 523,336 357,547
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 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 A Rennie
Director
26/09/2023
The notes on pages 3 to 5 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
MTB (Midlands) Limited is a private company, limited by shares, incorporated in England & Wales, registered number 03574368 . The registered office is 88 Station Road, Cradley Heath, West Midlands, B64 6PL.
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. Going Concern Disclosure
The directors are satisfied that despite the Coronavirus pandemic, it is appropriate for the company's financial
statements to be prepared on a going concern basis. The pandemic has resulted in a number of uncertainties
arising and the directors have taken steps to minimise the effect on the company and will continue to do so. In
the circumstances they have concluded that no adjustments or additional disclosures are required to the
financial statements at this time.
2.3. Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates,
value added tax and other sales taxes.
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 2% on cost
Plant & Machinery 10% on reducing balance
Fixtures & Fittings 25% on reducing balance
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 profit and loss account as incurred.
2.6. Stocks and Work in Progress
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and
slow moving items.
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.
...CONTINUED
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2.7. Taxation - continued
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 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.
2.8. Employee Benefits
When employees have rendered service to the company, short-term employee benefits to which the employees
are entitled are recognised at the undiscounted amount expected to be paid in exchange for that service.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 6 (2022: 4)
6 4
4. Tangible Assets
Land & Property
Freehold Plant & Machinery Fixtures & Fittings Total
£ £ £ £
Cost
As at 1 August 2022 247,798 834,829 12,147 1,094,774
As at 31 July 2023 247,798 834,829 12,147 1,094,774
Depreciation
As at 1 August 2022 - 486,451 11,047 497,498
Provided during the period - 34,696 696 35,392
As at 31 July 2023 - 521,147 11,743 532,890
Net Book Value
As at 31 July 2023 247,798 313,682 404 561,884
As at 1 August 2022 247,798 348,378 1,100 597,276
5. Stocks
2023 2022
£ £
Stocks 16,026 23,767
6. Debtors
2023 2022
£ £
Due within one year
Trade debtors 267,089 94,435
Prepayments and accrued income 7,483 2,751
Other debtors 147 147
274,719 97,333
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Page 5
7. Creditors: Amounts Falling Due Within One Year
2023 2022
£ £
Net obligations under finance lease and hire purchase contracts 14,593 8,767
Trade creditors 39,624 69,987
Bank loans and overdrafts - 19,360
Corporation tax 59,993 15,540
VAT 44,729 11,696
Other creditors - 4,188
Accruals and deferred income 144,874 43,678
Directors' loan accounts 126,079 79
Amounts owed to group undertakings 1 1
429,893 173,296
8. Creditors: Amounts Falling Due After More Than One Year
2023 2022
£ £
Net obligations under finance lease and hire purchase contracts 18,528 38,947
Bank loans - 115,102
18,528 154,049
9. Secured Creditors
The bank loan has been secured by fixed and floating charges against all property and assets of the company. 
The hire purchase liability is secured over the associated fixed assets.
The following secured debts are included within creditors:
2023 2022
£ £
Net obligations under finance lease and hire purchase contracts - 47,714
Bank loans and overdrafts - 134,462
10. Obligations Under Finance Leases and Hire Purchase
2023 2022
£ £
The future minimum finance lease payments are as follows:
Not later than one year 14,593 8,767
Later than one year and not later than five years 18,528 38,947
33,121 47,714
33,121 47,714
11. Share Capital
2023 2022
£ £
Allotted, Called up and fully paid 100 100
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