Acorah Software Products - Accounts Production 14.5.601 false true 31 January 2023 1 February 2022 false 1 February 2023 31 January 2024 31 January 2024 04146322 Mr Kenneth Hands Mr Paul Hands iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 04146322 2023-01-31 04146322 2024-01-31 04146322 2023-02-01 2024-01-31 04146322 frs-core:CurrentFinancialInstruments 2024-01-31 04146322 frs-core:MotorVehicles 2024-01-31 04146322 frs-core:MotorVehicles 2023-02-01 2024-01-31 04146322 frs-core:MotorVehicles 2023-01-31 04146322 frs-core:PlantMachinery 2024-01-31 04146322 frs-core:PlantMachinery 2023-02-01 2024-01-31 04146322 frs-core:PlantMachinery 2023-01-31 04146322 frs-core:ShareCapital 2024-01-31 04146322 frs-core:RetainedEarningsAccumulatedLosses 2024-01-31 04146322 frs-bus:PrivateLimitedCompanyLtd 2023-02-01 2024-01-31 04146322 frs-bus:FilletedAccounts 2023-02-01 2024-01-31 04146322 frs-bus:SmallEntities 2023-02-01 2024-01-31 04146322 frs-bus:AuditExempt-NoAccountantsReport 2023-02-01 2024-01-31 04146322 frs-bus:SmallCompaniesRegimeForAccounts 2023-02-01 2024-01-31 04146322 frs-bus:Director1 2023-02-01 2024-01-31 04146322 frs-bus:Director2 2023-02-01 2024-01-31 04146322 frs-core:CurrentFinancialInstruments 1 2024-01-31 04146322 frs-countries:EnglandWales 2023-02-01 2024-01-31 04146322 2022-01-31 04146322 2023-01-31 04146322 2022-02-01 2023-01-31 04146322 frs-core:CurrentFinancialInstruments 2023-01-31 04146322 frs-core:ShareCapital 2023-01-31 04146322 frs-core:RetainedEarningsAccumulatedLosses 2023-01-31 04146322 frs-core:CurrentFinancialInstruments 1 2023-01-31
Registered number: 04146322
Modular Refrigeration Systems Ltd
Unaudited Financial Statements
For The Year Ended 31 January 2024
Accountants247 Limited
Unaudited Financial Statements
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 04146322
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 17,087 21,966
17,087 21,966
CURRENT ASSETS
Stocks 5 2,500 2,500
Debtors 6 18,570 3,110
Cash at bank and in hand 77,157 92,120
98,227 97,730
Creditors: Amounts Falling Due Within One Year 7 (21,396 ) (24,051 )
NET CURRENT ASSETS (LIABILITIES) 76,831 73,679
TOTAL ASSETS LESS CURRENT LIABILITIES 93,918 95,645
PROVISIONS FOR LIABILITIES
Deferred Taxation (2,079 ) (2,079 )
NET ASSETS 91,839 93,566
CAPITAL AND RESERVES
Called up share capital 8 99 99
Profit and Loss Account 91,740 93,467
SHAREHOLDERS' FUNDS 91,839 93,566
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 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 Paul Hands
Director
21/03/2024
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
Modular Refrigeration Systems Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 04146322 . The registered office is 4 Priory Green, Highgate Close Norton, Runcorn, Cheshire, WA7 6GH.
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 25% Reducing Balance
Motor Vehicles 25% 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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3. Average Number of Employees
Average number of employees, including directors, during the year was: 2 (2023: 3)
2 3
4. Tangible Assets
Plant & Machinery Motor Vehicles Total
£ £ £
Cost
As at 1 February 2023 3,262 33,291 36,553
Additions 816 - 816
As at 31 January 2024 4,078 33,291 37,369
Depreciation
As at 1 February 2023 2,834 11,753 14,587
Provided during the period 311 5,384 5,695
As at 31 January 2024 3,145 17,137 20,282
Net Book Value
As at 31 January 2024 933 16,154 17,087
As at 1 February 2023 428 21,538 21,966
5. Stocks
2024 2023
£ £
Stock 2,500 2,500
6. Debtors
2024 2023
£ £
Due within one year
Trade debtors 14,280 -
CIS 4,290 3,110
18,570 3,110
7. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 59 1,735
Corporation tax 9,888 9,262
Other taxes and social security 1,204 1,256
VAT 5,053 3,409
Net wages 1,058 1,580
Other creditors 2,274 6,189
Credit Card 1,860 620
21,396 24,051
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8. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 99 99
Page 5