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 01701108 Mr Timothy Brown Mr Peter Moss Ms Ingrid Ridley-Smith iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 01701108 2022-12-31 01701108 2023-12-31 01701108 2023-01-01 2023-12-31 01701108 frs-core:CurrentFinancialInstruments 2023-12-31 01701108 frs-core:Non-currentFinancialInstruments 2023-12-31 01701108 frs-core:FurnitureFittings 2023-12-31 01701108 frs-core:FurnitureFittings 2023-01-01 2023-12-31 01701108 frs-core:FurnitureFittings 2022-12-31 01701108 frs-core:LandBuildings frs-core:OwnedOrFreeholdAssets 2023-12-31 01701108 frs-core:LandBuildings frs-core:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 01701108 frs-core:LandBuildings frs-core:OwnedOrFreeholdAssets 2022-12-31 01701108 frs-core:MoreThanFiveYears 2023-12-31 01701108 frs-core:MotorVehicles 2023-12-31 01701108 frs-core:MotorVehicles 2023-01-01 2023-12-31 01701108 frs-core:MotorVehicles 2022-12-31 01701108 frs-core:WithinOneYear 2023-12-31 01701108 frs-core:ShareCapital 2023-12-31 01701108 frs-core:RetainedEarningsAccumulatedLosses 2023-12-31 01701108 frs-bus:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 01701108 frs-bus:FilletedAccounts 2023-01-01 2023-12-31 01701108 frs-bus:SmallEntities 2023-01-01 2023-12-31 01701108 frs-bus:AuditExempt-NoAccountantsReport 2023-01-01 2023-12-31 01701108 frs-bus:SmallCompaniesRegimeForAccounts 2023-01-01 2023-12-31 01701108 frs-core:CostValuation 2022-12-31 01701108 frs-core:CostValuation 2023-12-31 01701108 frs-core:ProvisionsForImpairmentInvestments 2022-12-31 01701108 frs-core:ProvisionsForImpairmentInvestments 2023-12-31 01701108 frs-bus:Director1 2023-01-01 2023-12-31 01701108 frs-bus:Director2 2023-01-01 2023-12-31 01701108 frs-bus:CompanySecretary1 2023-01-01 2023-12-31 01701108 frs-core:CurrentFinancialInstruments 1 2023-12-31 01701108 frs-countries:EnglandWales 2023-01-01 2023-12-31 01701108 2021-12-31 01701108 2022-12-31 01701108 2022-01-01 2022-12-31 01701108 frs-core:CurrentFinancialInstruments 2022-12-31 01701108 frs-core:Non-currentFinancialInstruments 2022-12-31 01701108 frs-core:MoreThanFiveYears 2022-12-31 01701108 frs-core:WithinOneYear 2022-12-31 01701108 frs-core:ShareCapital 2022-12-31 01701108 frs-core:RetainedEarningsAccumulatedLosses 2022-12-31 01701108 frs-core:CurrentFinancialInstruments 1 2022-12-31
Registered number: 01701108
Power Capacitors Limited
Unaudited Financial Statements
For The Year Ended 31 December 2023
mca business ltd
4 - 6 The Wharf Centre
Wharf Street
Warwick
Warwickshire
CV34 5LB
Unaudited Financial Statements
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—6
Page 1
Balance Sheet
Registered number: 01701108
2023 2022
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 386,657 270,852
Investments 5 1,800 1,800
388,457 272,652
CURRENT ASSETS
Stocks 6 460,232 281,896
Debtors 7 393,325 214,236
Cash at bank and in hand 86,911 60,406
940,468 556,538
Creditors: Amounts Falling Due Within One Year 8 (596,499 ) (463,702 )
NET CURRENT ASSETS (LIABILITIES) 343,969 92,836
TOTAL ASSETS LESS CURRENT LIABILITIES 732,426 365,488
Creditors: Amounts Falling Due After More Than One Year 9 (14,497 ) (37,870 )
PROVISIONS FOR LIABILITIES
Deferred Taxation (115,000 ) -
NET ASSETS 602,929 327,618
CAPITAL AND RESERVES
Called up share capital 11 61,675 61,675
Profit and Loss Account 541,254 265,943
SHAREHOLDERS' FUNDS 602,929 327,618
Page 1
Page 2
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
Mr Peter Moss
Director
12/02/2024
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
Power Capacitors Limited is a private company, limited by shares, incorporated in England & Wales, registered number 01701108 . The registered office is 30 Redfern Road, Tyseley, Birmingham, West Midlands, B11 2BH.
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:
Freehold 33%
Motor Vehicles 25% Straight Line
Fixtures & Fittings 15% and 33% Straight Line
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 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.
Page 3
Page 4
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: 27 (2022: 27)
27 27
4. Tangible Assets
Land & Property
Freehold Motor Vehicles Fixtures & Fittings Total
£ £ £ £
Cost or Valuation
As at 1 January 2023 225,000 131,254 483,026 839,280
Additions - 19,998 - 19,998
Revaluation 115,000 - - 115,000
As at 31 December 2023 340,000 151,252 483,026 974,278
Depreciation
As at 1 January 2023 22,500 70,246 475,682 568,428
Provided during the period 4,500 12,202 2,491 19,193
As at 31 December 2023 27,000 82,448 478,173 587,621
Net Book Value
As at 31 December 2023 313,000 68,804 4,853 386,657
As at 1 January 2023 202,500 61,008 7,344 270,852
Page 4
Page 5
5. Investments
Subsidiaries
£
Cost
As at 1 January 2023 1,800
As at 31 December 2023 1,800
Provision
As at 1 January 2023 -
As at 31 December 2023 -
Net Book Value
As at 31 December 2023 1,800
As at 1 January 2023 1,800
6. Stocks
2023 2022
£ £
Materials 460,232 281,896
7. Debtors
2023 2022
£ £
Due within one year
Trade debtors 647,053 564,566
Prepayments and accrued income (257,592 ) (355,068 )
Other debtors 3,864 4,738
393,325 214,236
8. Creditors: Amounts Falling Due Within One Year
2023 2022
£ £
Net obligations under finance lease and hire purchase contracts 16,230 16,230
Trade creditors 248,755 211,867
Bank loans and overdrafts - 22,084
Corporation tax 105,949 31,654
VAT 178,462 144,888
Other creditors 2,993 10,003
PAYE Creditor 44,110 26,976
596,499 463,702
9. Creditors: Amounts Falling Due After More Than One Year
2023 2022
£ £
Net obligations under finance lease and hire purchase contracts 14,497 37,870
14,497 37,870
Page 5
Page 6
10. Obligations Under Finance Leases and Hire Purchase
2023 2022
£ £
The future minimum finance lease payments are as follows:
Not later than one year 16,230 16,230
Later than five years 14,497 37,870
30,727 54,100
30,727 54,100
11. Share Capital
2023 2022
£ £
Allotted, Called up and fully paid 61,675 61,675
Page 6