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Registered number: 09404054
Abley Groundworks Limited
Financial Statements
For The Year Ended 31 January 2024
Henniker & Co Ltd
Financial Statements
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 09404054
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 5 34,811 37,740
34,811 37,740
CURRENT ASSETS
Debtors 6 39,254 45,817
Cash at bank and in hand 71,010 68,046
110,264 113,863
Creditors: Amounts Falling Due Within One Year 7 (104,792 ) (103,558 )
NET CURRENT ASSETS (LIABILITIES) 5,472 10,305
TOTAL ASSETS LESS CURRENT LIABILITIES 40,283 48,045
Creditors: Amounts Falling Due After More Than One Year 8 - (15,807 )
PROVISIONS FOR LIABILITIES
Deferred Taxation (6,614 ) -
NET ASSETS 33,669 32,238
CAPITAL AND RESERVES
Called up share capital 10 1 1
Profit and Loss Account 33,668 32,237
SHAREHOLDERS' FUNDS 33,669 32,238
Page 1
Page 2
For the year ending 31 January 2024 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 Geoffrey Abley
Director
17/04/2024
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
Abley Groundworks Limited is a private company, limited by shares, incorporated in England & Wales, registered number 09404054 . The registered office is 45-47 Cheapside, Spennymoor, DL16 6QF.
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. 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 from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from 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.
2.3. Intangible Fixed Assets and Amortisation - Goodwill
Goodwill is the difference between amounts paid on the acquisition of a business and the fair value of the separable net assets. It is amortised to profit and loss account over its estimated economic life of .... years.
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:
Plant & Machinery 20% reducing balance
Motor Vehicles 25% reducing balance
Fixtures & Fittings 25% 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.
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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 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.
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.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 3 (2023: 3)
3 3
4. Intangible Assets
Goodwill
£
Cost
As at 1 February 2023 30,000
As at 31 January 2024 30,000
Amortisation
As at 1 February 2023 30,000
As at 31 January 2024 30,000
5. Tangible Assets
Plant & Machinery Motor Vehicles Fixtures & Fittings Total
£ £ £ £
Cost
As at 1 February 2023 9,778 60,292 1,181 71,251
Additions 8,273 - - 8,273
As at 31 January 2024 18,051 60,292 1,181 79,524
Depreciation
As at 1 February 2023 2,409 30,189 913 33,511
Provided during the period 3,609 7,526 67 11,202
As at 31 January 2024 6,018 37,715 980 44,713
Net Book Value
As at 31 January 2024 12,033 22,577 201 34,811
As at 1 February 2023 7,369 30,103 268 37,740
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6. Debtors
2024 2023
£ £
Due within one year
CIS tax recoverable 36,627 43,405
VAT 2,627 2,412
39,254 45,817
7. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Net obligations under finance lease and hire purchase contracts 34,877 42,483
Trade creditors 1 1
Bank loans and overdrafts 39,447 40,702
Corporation tax 26,732 18,013
Accruals and deferred income 2,970 2,040
Director's loan account 765 319
104,792 103,558
8. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Corporation tax - 15,807
- 15,807
9. Obligations Under Finance Leases and Hire Purchase
2024 2023
£ £
The future minimum finance lease payments are as follows:
Not later than one year 34,877 42,483
10. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 1 1
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