Acorah Software Products - Accounts Production 14.5.601 false true 31 December 2022 1 January 2022 false 1 January 2023 31 December 2023 31 December 2023 4568676 Mrs Julia O'Sullivan Mr Michael O'Sullivan iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 4568676 2022-12-31 4568676 2023-12-31 4568676 2023-01-01 2023-12-31 4568676 frs-core:CurrentFinancialInstruments 2023-12-31 4568676 frs-core:Non-currentFinancialInstruments 2023-12-31 4568676 frs-core:NetGoodwill 2023-12-31 4568676 frs-core:NetGoodwill 2023-01-01 2023-12-31 4568676 frs-core:NetGoodwill 2022-12-31 4568676 frs-core:LandBuildings frs-core:LeasedAssetsHeldAsLessee 2023-01-01 2023-12-31 4568676 frs-core:LandBuildings frs-core:OwnedOrFreeholdAssets 2023-12-31 4568676 frs-core:LandBuildings frs-core:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 4568676 frs-core:LandBuildings frs-core:OwnedOrFreeholdAssets 2022-12-31 4568676 frs-core:MotorVehicles 2023-12-31 4568676 frs-core:MotorVehicles 2023-01-01 2023-12-31 4568676 frs-core:MotorVehicles 2022-12-31 4568676 frs-core:PlantMachinery 2023-12-31 4568676 frs-core:PlantMachinery 2023-01-01 2023-12-31 4568676 frs-core:PlantMachinery 2022-12-31 4568676 frs-core:ShareCapital 2023-12-31 4568676 frs-core:RetainedEarningsAccumulatedLosses 2023-12-31 4568676 frs-bus:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 4568676 frs-bus:FilletedAccounts 2023-01-01 2023-12-31 4568676 frs-bus:SmallEntities 2023-01-01 2023-12-31 4568676 frs-bus:AuditExempt-NoAccountantsReport 2023-01-01 2023-12-31 4568676 frs-bus:SmallCompaniesRegimeForAccounts 2023-01-01 2023-12-31 4568676 frs-bus:Director1 2023-01-01 2023-12-31 4568676 frs-bus:Director2 2023-01-01 2023-12-31 4568676 frs-countries:EnglandWales 2023-01-01 2023-12-31 4568676 2021-12-31 4568676 2022-12-31 4568676 2022-01-01 2022-12-31 4568676 frs-core:CurrentFinancialInstruments 2022-12-31 4568676 frs-core:Non-currentFinancialInstruments 2022-12-31 4568676 frs-core:ShareCapital 2022-12-31 4568676 frs-core:RetainedEarningsAccumulatedLosses 2022-12-31
Registered number: 4568676
MIKE O SULLIVAN GARAGE SERVICES LTD
Financial Statements
For The Year Ended 31 December 2023
Financial Statements
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 4568676
2023 2022
Notes £ £ £ £
FIXED ASSETS
Intangible Assets 3 1 1
Tangible Assets 4 403,402 428,992
403,403 428,993
CURRENT ASSETS
Stocks 5 60,320 48,151
Debtors 6 219,985 234,499
Cash at bank and in hand 284,543 220,639
564,848 503,289
Creditors: Amounts Falling Due Within One Year 7 (74,269 ) (63,259 )
NET CURRENT ASSETS (LIABILITIES) 490,579 440,030
TOTAL ASSETS LESS CURRENT LIABILITIES 893,982 869,023
Creditors: Amounts Falling Due After More Than One Year 8 (14,167 ) (24,167 )
NET ASSETS 879,815 844,856
CAPITAL AND RESERVES
Called up share capital 9 100 100
Profit and Loss Account 879,715 844,756
SHAREHOLDERS' FUNDS 879,815 844,856
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For the year ending 31 December 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
Mrs Julia O'Sullivan
Director
Mr Michael O'Sullivan
Director
22/01/2024
The notes on pages 3 to 5 form part of these financial statements.
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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 FRS 102 Section 1A Small Entities - The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.
1.2. 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.
1.3. 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 20 years.
1.4. 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 Nil
Leasehold Nil
Plant & Machinery 20% Reducing Balance
Motor Vehicles 25% on Cost
1.5. Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
2. Average Number of Employees
Average number of employees, including directors, during the year was: 7 (2022: 7)
7 7
3. Intangible Assets
Goodwill
£
Cost
As at 1 January 2023 55,593
As at 31 December 2023 55,593
Amortisation
As at 1 January 2023 55,592
As at 31 December 2023 55,592
Net Book Value
As at 31 December 2023 1
As at 1 January 2023 1
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4. Tangible Assets
Land & Property
Freehold Plant & Machinery Motor Vehicles Total
£ £ £ £
Cost
As at 1 January 2023 310,465 269,605 109,454 689,524
Additions 15,454 1,739 - 17,193
Disposals - (23,678 ) (42,088 ) (65,766 )
As at 31 December 2023 325,919 247,666 67,366 640,951
Depreciation
As at 1 January 2023 - 196,599 63,933 260,532
Provided during the period - 14,600 22,081 36,681
Disposals - (23,678 ) (35,986 ) (59,664 )
As at 31 December 2023 - 187,521 50,028 237,549
Net Book Value
As at 31 December 2023 325,919 60,145 17,338 403,402
As at 1 January 2023 310,465 73,006 45,521 428,992
5. Stocks
2023 2022
£ £
Stock 60,320 48,151
6. Debtors
2023 2022
£ £
Due within one year
Trade debtors 15,600 44,502
Directors' Current Account 138,049 101,184
Other Debtors and Prepayments 30,320 57,900
Corporation tax recoverable assets 36,016 30,913
219,985 234,499
7. Creditors: Amounts Falling Due Within One Year
2023 2022
£ £
Trade creditors 6,902 11,086
Corporation tax 38,725 25,035
P A Y E 1,638 2,184
V A T 9,792 12,954
Other Creditors and Accruals 7,212 2,000
Bounce Back Loan - Current Element (Current liabilities - creditors < 1 year) 10,000 10,000
74,269 63,259
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8. Creditors: Amounts Falling Due After More Than One Year
2023 2022
£ £
Bounce Back Loan (Long term liabilities - creditors > 1 year) 14,167 24,167
14,167 24,167
9. Share Capital
2023 2022
£ £
Allotted, Called up and fully paid 100 100
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