Acorah Software Products - Accounts Production 14.5.601 false true 30 April 2022 1 May 2021 false 1 May 2022 30 April 2023 30 April 2023 04416467 Mr Ray Staff Mr Paul Richards directors true iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 04416467 2022-04-30 04416467 2023-04-30 04416467 2022-05-01 2023-04-30 04416467 frs-core:CurrentFinancialInstruments 2023-04-30 04416467 frs-core:Non-currentFinancialInstruments 2023-04-30 04416467 frs-core:BetweenOneFiveYears 2023-04-30 04416467 frs-core:MotorVehicles 2023-04-30 04416467 frs-core:MotorVehicles 2022-05-01 2023-04-30 04416467 frs-core:MotorVehicles 2022-04-30 04416467 frs-core:PlantMachinery 2023-04-30 04416467 frs-core:PlantMachinery 2022-05-01 2023-04-30 04416467 frs-core:PlantMachinery 2022-04-30 04416467 frs-core:WithinOneYear 2023-04-30 04416467 frs-core:ShareCapital 2023-04-30 04416467 frs-core:RetainedEarningsAccumulatedLosses 2023-04-30 04416467 frs-bus:PrivateLimitedCompanyLtd 2022-05-01 2023-04-30 04416467 frs-bus:FilletedAccounts 2022-05-01 2023-04-30 04416467 frs-bus:SmallEntities 2022-05-01 2023-04-30 04416467 frs-bus:AuditExempt-NoAccountantsReport 2022-05-01 2023-04-30 04416467 frs-bus:SmallCompaniesRegimeForAccounts 2022-05-01 2023-04-30 04416467 frs-bus:OrdinaryShareClass1 2022-05-01 2023-04-30 04416467 frs-bus:OrdinaryShareClass1 2023-04-30 04416467 1 2022-05-01 2023-04-30 04416467 frs-bus:Director1 2022-05-01 2023-04-30 04416467 frs-bus:Director2 2022-05-01 2023-04-30 04416467 frs-countries:EnglandWales 2022-05-01 2023-04-30 04416467 2021-04-30 04416467 2022-04-30 04416467 2021-05-01 2022-04-30 04416467 frs-core:CurrentFinancialInstruments 2022-04-30 04416467 frs-core:Non-currentFinancialInstruments 2022-04-30 04416467 frs-core:BetweenOneFiveYears 2022-04-30 04416467 frs-core:MotorVehicles 2021-05-01 2022-04-30 04416467 frs-core:WithinOneYear 2022-04-30 04416467 frs-core:ShareCapital 2022-04-30 04416467 frs-core:RetainedEarningsAccumulatedLosses 2022-04-30 04416467 frs-bus:OrdinaryShareClass1 2021-05-01 2022-04-30
Registered number: 04416467
Universal Electrix Limited
Unaudited Financial Statements
For The Year Ended 30 April 2023
Daverns
Chartered Accountants
Hardy House
Northbridge Road
Berkhamsted
Herts
HP4 1EF
Unaudited Financial Statements
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—6
Page 1
Balance Sheet
Registered number: 04416467
2023 2022
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 14,729 21,473
14,729 21,473
CURRENT ASSETS
Stocks 5 85,894 74,587
Debtors 6 150,219 144,370
Cash at bank and in hand 77,648 64,609
313,761 283,566
Creditors: Amounts Falling Due Within One Year 7 (204,505 ) (193,651 )
NET CURRENT ASSETS (LIABILITIES) 109,256 89,915
TOTAL ASSETS LESS CURRENT LIABILITIES 123,985 111,388
Creditors: Amounts Falling Due After More Than One Year 8 (36,833 ) (47,906 )
PROVISIONS FOR LIABILITIES
Deferred Taxation (4,195 ) (5,369 )
NET ASSETS 82,957 58,113
CAPITAL AND RESERVES
Called up share capital 10 2 2
Profit and Loss Account 82,955 58,111
SHAREHOLDERS' FUNDS 82,957 58,113
Page 1
Page 2
For the year ending 30 April 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 Ray Staff
Director
Mr Paul Richards
Director
18th March 2024
The notes on pages 3 to 6 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Universal Electrix Limited Registered number 04416467 is a limited by shares company incorporated in England & Wales. The Registered Office is Hardy House, Northbridge Road, Berkhamsted, Herts, HP4 1EF.
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 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 18% reducing balance
Motor Vehicles 25% reducing balance
2.4. 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.
2.5. 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.
2.6. 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.
Page 3
Page 4
2.7. Government Grant
Government grants are recognised in the profit and loss account in an appropriate manner that matches them with the expenditure towards which they are intended to contribute.
Grants for immediate financial support or to cover costs already incurred are recognised immediately in the profit and loss account. Grants towards general activities of the entity over a specific period are recognised in the profit and loss account over that period.
Grants towards fixed assets are recognised over the expected useful lives of the related assets and are treated as deferred income and released to the profit and loss account over the useful life of the asset concerned.
All grants in the profit and loss account are recognised when all conditions for receipt have been complied with.
3. Average Number of Employees
Average number of employees, including directors, during the year was:
2023 2022
Office and administration 2 2
Sales, marketing and distribution 4 4
6 6
4. Tangible Assets
Plant & Machinery Motor Vehicles Total
£ £ £
Cost
As at 1 May 2022 6,683 25,033 31,716
As at 30 April 2023 6,683 25,033 31,716
Depreciation
As at 1 May 2022 3,985 6,258 10,243
Provided during the period 486 6,258 6,744
As at 30 April 2023 4,471 12,516 16,987
Net Book Value
As at 30 April 2023 2,212 12,517 14,729
As at 1 May 2022 2,698 18,775 21,473
Included above are assets held under finance leases or hire purchase contracts with a net book value as follows:
2023 2022
£ £
Motor Vehicles 12,517 18,775
12,517 18,775
5. Stocks
2023 2022
£ £
Finished goods 85,894 74,587
Page 4
Page 5
6. Debtors
2023 2022
£ £
Due within one year
Trade debtors 142,125 138,894
Prepayments and accrued income 8,094 5,476
150,219 144,370
7. Creditors: Amounts Falling Due Within One Year
2023 2022
£ £
Net obligations under finance lease and hire purchase contracts 4,591 4,591
Trade creditors 85,466 101,545
Bank loans and overdrafts 5,400 5,400
Corporation tax 21,068 4,758
Other taxes and social security 20,194 19,435
Other creditors 1,810 -
Accruals and deferred income 5,875 2,922
Directors' loan accounts 60,101 55,000
204,505 193,651
8. Creditors: Amounts Falling Due After More Than One Year
2023 2022
£ £
Net obligations under finance lease and hire purchase contracts 2,892 9,101
Bank loans 33,941 38,805
36,833 47,906
9. Obligations Under Finance Leases and Hire Purchase
2023 2022
£ £
The future minimum finance lease payments are as follows:
Not later than one year 4,591 4,591
Later than one year and not later than five years 2,892 9,101
7,483 13,692
7,483 13,692
10. Share Capital
2023 2022
Allotted, called up and fully paid £ £
2 Ordinary Shares of £ 1.000 each 2 2
11. Directors Advances, Credits and Guarantees
Dividends paid to directors amounted to £60,000 (2019: £60,000) during the year.
Page 5
Page 6
2023 2022
£ £
Mr Ray Staff 30,000 15,000
Mr Paul Richards 30,000 15,000
12. Dividends
2023 2022
£ £
On equity shares:
Interim dividend paid 60,000 30,000
60,000 30,000
13. Ultimate Controlling Party
The company's ultimate controlling parties are the directors by virtue of his ownership of 100% of the issued share capital in the company.
Page 6