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 07625093 Mr J D Turner Mr J S Nesbitt iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 07625093 2022-12-31 07625093 2023-12-31 07625093 2023-01-01 2023-12-31 07625093 frs-core:CurrentFinancialInstruments 2023-12-31 07625093 frs-core:ComputerEquipment 2023-01-01 2023-12-31 07625093 frs-core:FurnitureFittings 2023-01-01 2023-12-31 07625093 frs-core:MotorVehicles 2023-01-01 2023-12-31 07625093 frs-core:PlantMachinery 2023-12-31 07625093 frs-core:PlantMachinery 2023-01-01 2023-12-31 07625093 frs-core:PlantMachinery 2022-12-31 07625093 frs-core:CapitalRedemptionReserve 2023-12-31 07625093 frs-core:ShareCapital 2023-12-31 07625093 frs-core:RetainedEarningsAccumulatedLosses 2023-12-31 07625093 frs-bus:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 07625093 frs-bus:FilletedAccounts 2023-01-01 2023-12-31 07625093 frs-bus:SmallEntities 2023-01-01 2023-12-31 07625093 frs-bus:AuditExempt-NoAccountantsReport 2023-01-01 2023-12-31 07625093 frs-bus:SmallCompaniesRegimeForAccounts 2023-01-01 2023-12-31 07625093 frs-bus:Director1 2023-01-01 2023-12-31 07625093 frs-bus:Director2 2023-01-01 2023-12-31 07625093 frs-countries:EnglandWales 2023-01-01 2023-12-31 07625093 2021-12-31 07625093 2022-12-31 07625093 2022-01-01 2022-12-31 07625093 frs-core:CurrentFinancialInstruments 2022-12-31 07625093 frs-core:CapitalRedemptionReserve 2022-12-31 07625093 frs-core:ShareCapital 2022-12-31 07625093 frs-core:RetainedEarningsAccumulatedLosses 2022-12-31
Registered number: 07625093
Access Covers Limited
Unaudited Financial Statements
For The Year Ended 31 December 2023
Shelvoke, Pickering, Janney LLP
Chartered Certified Accountants
57 - 61 Market Place
Cannock
Staffordshire
WS11 1BP
Unaudited Financial Statements
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 07625093
2023 2022
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 238,259 251,037
238,259 251,037
CURRENT ASSETS
Stocks 5 300,297 324,513
Debtors 6 226,666 439,666
Cash at bank and in hand 630,026 482,716
1,156,989 1,246,895
Creditors: Amounts Falling Due Within One Year 7 (525,167 ) (469,295 )
NET CURRENT ASSETS (LIABILITIES) 631,822 777,600
TOTAL ASSETS LESS CURRENT LIABILITIES 870,081 1,028,637
PROVISIONS FOR LIABILITIES
Deferred Taxation (59,565 ) (47,697 )
NET ASSETS 810,516 980,940
CAPITAL AND RESERVES
Called up share capital 8 50 75
Capital redemption reserve 50 25
Profit and Loss Account 810,416 980,840
SHAREHOLDERS' FUNDS 810,516 980,940
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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 J D Turner
Director
29 February 2024
The notes on pages 3 to 5 form part of these financial statements.
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Notes to the Financial Statements
1. General Information
Access Covers Limited is a private company, limited by shares, incorporated in England & Wales, registered number 07625093 . The registered office is 57-61 Market Place, Cannock, Staffordshire, WS11 1BP.
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% on reducing balance
Motor Vehicles 25% on reducing balance
Fixtures & Fittings 15% on reducing balance
Computer Equipment 20% on 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.
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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.
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.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 29 (2022: 28)
29 28
4. Tangible Assets
Plant & Machinery etc.
£
Cost
As at 1 January 2023 579,184
Additions 47,290
Disposals (6,130 )
As at 31 December 2023 620,344
...CONTINUED
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Depreciation
As at 1 January 2023 328,147
Provided during the period 60,068
Disposals (6,130 )
As at 31 December 2023 382,085
Net Book Value
As at 31 December 2023 238,259
As at 1 January 2023 251,037
5. Stocks
2023 2022
£ £
Materials 279,437 317,601
Work in progress 20,860 6,912
300,297 324,513
6. Debtors
2023 2022
£ £
Due within one year
Trade debtors 213,741 291,822
Other debtors 12,925 147,844
226,666 439,666
7. Creditors: Amounts Falling Due Within One Year
2023 2022
£ £
Trade creditors 129,703 186,602
Other creditors 27,745 12,233
Taxation and social security 367,719 270,460
525,167 469,295
8. Share Capital
2023 2022
£ £
Allotted, Called up and fully paid 50 75
The company bought back shares of 25% on 31st December 2023 for the consideration of £660,000.
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