Acorah Software Products - Accounts Production 14.5.601 false true 31 January 2022 1 February 2021 false 1 February 2022 31 January 2023 31 January 2023 06386568 Mr Brett Langdon iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 06386568 2022-01-31 06386568 2023-01-31 06386568 2022-02-01 2023-01-31 06386568 frs-core:CurrentFinancialInstruments 2023-01-31 06386568 frs-core:Non-currentFinancialInstruments 2023-01-31 06386568 frs-core:ComputerEquipment 2023-01-31 06386568 frs-core:ComputerEquipment 2022-02-01 2023-01-31 06386568 frs-core:ComputerEquipment 2022-01-31 06386568 frs-core:MotorVehicles 2023-01-31 06386568 frs-core:MotorVehicles 2022-02-01 2023-01-31 06386568 frs-core:MotorVehicles 2022-01-31 06386568 frs-core:PlantMachinery 2023-01-31 06386568 frs-core:PlantMachinery 2022-02-01 2023-01-31 06386568 frs-core:PlantMachinery 2022-01-31 06386568 frs-core:ShareCapital 2023-01-31 06386568 frs-core:RetainedEarningsAccumulatedLosses 2023-01-31 06386568 frs-bus:PrivateLimitedCompanyLtd 2022-02-01 2023-01-31 06386568 frs-bus:FilletedAccounts 2022-02-01 2023-01-31 06386568 frs-bus:SmallEntities 2022-02-01 2023-01-31 06386568 frs-bus:AuditExempt-NoAccountantsReport 2022-02-01 2023-01-31 06386568 frs-bus:SmallCompaniesRegimeForAccounts 2022-02-01 2023-01-31 06386568 frs-bus:Director1 2022-02-01 2023-01-31 06386568 frs-core:CurrentFinancialInstruments 1 2023-01-31 06386568 frs-core:CurrentFinancialInstruments 2 2023-01-31 06386568 frs-countries:EnglandWales 2022-02-01 2023-01-31 06386568 2021-01-31 06386568 2022-01-31 06386568 2021-02-01 2022-01-31 06386568 frs-core:CurrentFinancialInstruments 2022-01-31 06386568 frs-core:Non-currentFinancialInstruments 2022-01-31 06386568 frs-core:ShareCapital 2022-01-31 06386568 frs-core:RetainedEarningsAccumulatedLosses 2022-01-31 06386568 frs-core:CurrentFinancialInstruments 1 2022-01-31 06386568 frs-core:CurrentFinancialInstruments 2 2022-01-31
Registered number: 06386568
Spms (Wales) Limited
Unaudited Financial Statements
For The Year Ended 31 January 2023
Unaudited Financial Statements
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 06386568
2023 2022
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 37,157 4,778
37,157 4,778
CURRENT ASSETS
Stocks 5 212,000 198,758
Debtors 6 361,713 358,724
Investments 7 7,000 7,000
580,713 564,482
Creditors: Amounts Falling Due Within One Year 8 (495,699 ) (443,611 )
NET CURRENT ASSETS (LIABILITIES) 85,014 120,871
TOTAL ASSETS LESS CURRENT LIABILITIES 122,171 125,649
Creditors: Amounts Falling Due After More Than One Year 9 (123,645 ) (164,340 )
NET LIABILITIES (1,474 ) (38,691 )
CAPITAL AND RESERVES
Called up share capital 10 100 100
Profit and Loss Account (1,574 ) (38,791 )
SHAREHOLDERS' FUNDS (1,474) (38,691)
Page 1
Page 2
For the year ending 31 January 2023 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 Brett Langdon
Director
2 April 2024
The notes on pages 3 to 5 form part of these financial statements.
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Page 3
Notes to the Financial Statements
1. General Information
Spms (Wales) Limited is a private company, limited by shares, incorporated in England & Wales, registered number 06386568 . The registered office is 6 Kestrel Close, Bridgend Industrial Estate, Bridgend, CF31 3RW.
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. 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 20% Reducing Balance
Computer Equipment 20% Reducing Balance
2.4. 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.
2.5. 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.
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2.6. 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: 4 (2022: 6)
4 6
4. Tangible Assets
Plant & Machinery Motor Vehicles Computer Equipment Total
£ £ £ £
Cost
As at 1 February 2022 17,584 39,800 5,947 63,331
Additions - 41,667 - 41,667
As at 31 January 2023 17,584 81,467 5,947 104,998
Depreciation
As at 1 February 2022 15,652 36,954 5,947 58,553
Provided during the period 386 8,902 - 9,288
As at 31 January 2023 16,038 45,856 5,947 67,841
Net Book Value
As at 31 January 2023 1,546 35,611 - 37,157
As at 1 February 2022 1,932 2,846 - 4,778
5. Stocks
2023 2022
£ £
Stock 110,000 105,745
Work in progress 102,000 93,013
212,000 198,758
6. Debtors
2023 2022
£ £
Due within one year
Trade debtors 115,932 91,812
Prepayments and accrued income 186,000 186,000
Other debtors 8,115 4,888
Corporation tax recoverable assets 7,155 23,282
Deferred tax current asset 38,883 44,680
VAT 5,628 8,062
361,713 358,724
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7. Current Asset Investments
2023 2022
£ £
Unlisted investments 7,000 7,000
7,000 7,000
8. Creditors: Amounts Falling Due Within One Year
2023 2022
£ £
Trade creditors 74,179 61,394
Bank loans and overdrafts 65,813 76,281
Other taxes and social security 26,324 26,397
Net wages 1,878 -
Other creditors (CC) 2,026 3,158
Other creditors (Thermorend) 5,563 -
Other creditors (Pension) 2,174 -
Accruals and deferred income 2,200 -
Director's loan account 315,542 276,381
495,699 443,611
9. Creditors: Amounts Falling Due After More Than One Year
2023 2022
£ £
Bank loans 123,645 164,340
123,645 164,340
10. Share Capital
2023 2022
£ £
Allotted, Called up and fully paid 100 100
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