Acorah Software Products - Accounts Production 14.5.601 false true true 31 October 2022 1 November 2021 false 1 November 2022 31 October 2023 31 October 2023 09810291 Mr Martyn Wells Mrs Clare Wells true iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 09810291 2022-10-31 09810291 2023-10-31 09810291 2022-11-01 2023-10-31 09810291 frs-core:CurrentFinancialInstruments 2023-10-31 09810291 frs-core:Non-currentFinancialInstruments 2023-10-31 09810291 frs-core:BetweenOneFiveYears 2023-10-31 09810291 frs-core:ComputerEquipment 2023-10-31 09810291 frs-core:ComputerEquipment 2022-11-01 2023-10-31 09810291 frs-core:ComputerEquipment 2022-10-31 09810291 frs-core:FurnitureFittings 2023-10-31 09810291 frs-core:FurnitureFittings 2022-11-01 2023-10-31 09810291 frs-core:FurnitureFittings 2022-10-31 09810291 frs-core:LandBuildings frs-core:OwnedOrFreeholdAssets 2023-10-31 09810291 frs-core:LandBuildings frs-core:OwnedOrFreeholdAssets 2022-11-01 2023-10-31 09810291 frs-core:LandBuildings frs-core:OwnedOrFreeholdAssets 2022-10-31 09810291 frs-core:MotorVehicles 2023-10-31 09810291 frs-core:MotorVehicles 2022-11-01 2023-10-31 09810291 frs-core:MotorVehicles 2022-10-31 09810291 frs-core:PlantMachinery 2023-10-31 09810291 frs-core:PlantMachinery 2022-11-01 2023-10-31 09810291 frs-core:PlantMachinery 2022-10-31 09810291 frs-core:WithinOneYear 2023-10-31 09810291 frs-core:ShareCapital 2023-10-31 09810291 frs-core:RetainedEarningsAccumulatedLosses 2023-10-31 09810291 frs-bus:PrivateLimitedCompanyLtd 2022-11-01 2023-10-31 09810291 frs-bus:FilletedAccounts 2022-11-01 2023-10-31 09810291 frs-bus:SmallEntities 2022-11-01 2023-10-31 09810291 frs-bus:AuditExempt-NoAccountantsReport 2022-11-01 2023-10-31 09810291 frs-bus:SmallCompaniesRegimeForAccounts 2022-11-01 2023-10-31 09810291 frs-bus:OrdinaryShareClass1 2022-11-01 2023-10-31 09810291 frs-bus:OrdinaryShareClass1 2023-10-31 09810291 1 2022-11-01 2023-10-31 09810291 frs-bus:Director1 2022-11-01 2023-10-31 09810291 frs-bus:Director2 2022-11-01 2023-10-31 09810291 frs-core:CurrentFinancialInstruments 1 2023-10-31 09810291 frs-core:CurrentFinancialInstruments 2 2023-10-31 09810291 frs-core:CurrentFinancialInstruments 3 2023-10-31 09810291 frs-countries:EnglandWales 2022-11-01 2023-10-31 09810291 2021-10-31 09810291 2022-10-31 09810291 2021-11-01 2022-10-31 09810291 frs-core:CurrentFinancialInstruments 2022-10-31 09810291 frs-core:Non-currentFinancialInstruments 2022-10-31 09810291 frs-core:BetweenOneFiveYears 2022-10-31 09810291 frs-core:WithinOneYear 2022-10-31 09810291 frs-core:ShareCapital 2022-10-31 09810291 frs-core:RetainedEarningsAccumulatedLosses 2022-10-31 09810291 frs-bus:OrdinaryShareClass1 2021-11-01 2022-10-31 09810291 frs-core:CurrentFinancialInstruments 1 2022-10-31 09810291 frs-core:CurrentFinancialInstruments 2 2022-10-31 09810291 frs-core:CurrentFinancialInstruments 3 2022-10-31
Registered number: 09810291
AFM (SW) Limited
Unaudited Financial Statements
For The Year Ended 31 October 2023
Lewis Ballard BBB Ltd
Unaudited Financial Statements
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—6
Page 1
Balance Sheet
Registered number: 09810291
2023 2022
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 644,253 355,537
644,253 355,537
CURRENT ASSETS
Debtors 5 307,481 278,044
Cash at bank and in hand 701,658 385,000
1,009,139 663,044
Creditors: Amounts Falling Due Within One Year 6 (902,027 ) (495,421 )
NET CURRENT ASSETS (LIABILITIES) 107,112 167,623
TOTAL ASSETS LESS CURRENT LIABILITIES 751,365 523,160
Creditors: Amounts Falling Due After More Than One Year 7 (426,328 ) (393,269 )
NET ASSETS 325,037 129,891
CAPITAL AND RESERVES
Called up share capital 9 100 100
Profit and Loss Account 324,937 129,791
SHAREHOLDERS' FUNDS 325,037 129,891
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For the year ending 31 October 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 Martyn Wells
Director
13/03/2024
The notes on pages 3 to 6 form part of these financial statements.
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Notes to the Financial Statements
1. General Information
AFM (SW) Limited Registered number 09810291 is a limited by shares company incorporated in England & Wales. The Registered Office is Unit 8, Riverside Business Park, Bedwas House Industrial Estate, Caerphilly, Mid Glamorgan, CF83 8XL.
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 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.
2.3. Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax.
2.4. 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:
Freehold no depreciation
Plant & Machinery 25% reducing balance
Motor Vehicles 25% reducing balance
Fixtures & Fittings 25% reducing balance
Computer Equipment 33% reducing balance
The depreciation policy on Computer Equipment was changed during the year from reducing balance to the straight line method.
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. 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.
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2.7. Registrar Filing Requirements
The company has taken advantage of Companies Act 2006 section 444(1) and opted not to file the profit and loss account, directors report, and notes to the financial statements relating to the profit and loss account.
3. Average Number of Employees
Average number of employees, including directors, during the year was:
2023 2022
Office and administration 14 14
14 14
4. Tangible Assets
Land & Property
Freehold Plant & Machinery Motor Vehicles Fixtures & Fittings
£ £ £ £
Cost
As at 1 November 2022 - 105,250 459,295 3,455
Additions 176,448 - 297,871 7,198
Disposals - - (119,386 ) -
As at 31 October 2023 176,448 105,250 637,780 10,653
Depreciation
As at 1 November 2022 - 26,695 185,431 2,862
Provided during the period - 19,639 90,311 1,240
Disposals - - (39,448 ) -
As at 31 October 2023 - 46,334 236,294 4,102
Net Book Value
As at 31 October 2023 176,448 58,916 401,486 6,551
As at 1 November 2022 - 78,555 273,864 593
Computer Equipment Total
£ £
Cost
As at 1 November 2022 15,708 583,708
Additions 483 482,000
Disposals - (119,386 )
As at 31 October 2023 16,191 946,322
Depreciation
As at 1 November 2022 13,183 228,171
Provided during the period 2,156 113,346
Disposals - (39,448 )
As at 31 October 2023 15,339 302,069
Net Book Value
As at 31 October 2023 852 644,253
As at 1 November 2022 2,525 355,537
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5. Debtors
2023 2022
£ £
Due within one year
Trade debtors 182,485 143,079
Company Loan 121,639 132,484
Other debtors 3,357 2,481
307,481 278,044
6. Creditors: Amounts Falling Due Within One Year
2023 2022
£ £
Net obligations under finance lease and hire purchase contracts 164,375 74,719
Trade creditors 335,734 226,638
Bank loans and overdrafts 30,705 -
Corporation tax 150,757 9,410
Other taxes and social security 38,767 16,839
VAT 33,592 146,721
Net wages 12,500 -
Pension creditors 2,004 1,331
Deferred income 132,739 -
Accrued expenses 106 9,736
Directors' loan accounts 748 10,027
902,027 495,421
7. Creditors: Amounts Falling Due After More Than One Year
2023 2022
£ £
Net obligations under finance lease and hire purchase contracts 245,755 259,800
Bank loans 180,573 133,469
426,328 393,269
8. Obligations Under Finance Leases and Hire Purchase
2023 2022
£ £
The future minimum finance lease payments are as follows:
Not later than one year 164,375 74,719
Later than one year and not later than five years 245,755 259,800
410,130 334,519
410,130 334,519
9. Share Capital
2023 2022
Allotted, called up and fully paid £ £
1 Ordinary Shares of £ 100.00 each 100 100
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10. Related Party Transactions
Dividends of £200,000 paid to the directors in the year. (2022: £240,000)
At the year end the company owed the directors £3,048 (2022 : £10,027)
11. Ultimate Controlling Party
The company's ultimate controlling party is Martyn Wells and Clare Wells by virtue of their ownership of 100% of the issued share capital in the company.
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