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Registered number: 05927449
Temporary Fencing Solutions Limited
Unaudited Financial Statements
For The Year Ended 30 September 2023
Unaudited Financial Statements
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—6
Page 1
Balance Sheet
Registered number: 05927449
2023 2022
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 4,940 7,595
4,940 7,595
CURRENT ASSETS
Stocks 5 63,623 59,656
Debtors 6 30,769 10,382
Cash at bank and in hand 93,614 79,468
188,006 149,506
Creditors: Amounts Falling Due Within One Year 7 (25,127 ) (25,123 )
NET CURRENT ASSETS (LIABILITIES) 162,879 124,383
TOTAL ASSETS LESS CURRENT LIABILITIES 167,819 131,978
Creditors: Amounts Falling Due After More Than One Year 8 (7,978 ) (13,787 )
PROVISIONS FOR LIABILITIES
Deferred Taxation (1,087 ) (1,444 )
NET ASSETS 158,754 116,747
CAPITAL AND RESERVES
Called up share capital 10 2 2
Profit and Loss Account 158,752 116,745
SHAREHOLDERS' FUNDS 158,754 116,747
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For the year ending 30 September 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 Shaun Mutton
Director
23 April 2024
The notes on pages 3 to 6 form part of these financial statements.
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Notes to the Financial Statements
1. General Information
Temporary Fencing Solutions Limited is a private company, limited by shares, incorporated in England & Wales, registered number 05927449 . The registered office is 5 Den Road, Teignmouth, Devon, TQ14 8AR.
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% Straight Line
Motor Vehicles 25% 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.
2.6. Financial Instruments
Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at the market rate of interest for a similar debt instrument. Debt instruments are subsequently measured at amortised cost.
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2.7. 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.
2.8. Impairment
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.
2.9. Registrar Filing Requirements
The company has taken advantage of Companies Act 2006 section 444(1) and opted not to file the profit and loss account, directors report, and notes to the financial statements relating to the profit and loss account.
3. Average Number of Employees
Average number of employees, including directors, during the year was:
2023 2022
Office and administration 1 1
Sales, marketing and distribution 1 1
2 2
4. Tangible Assets
Plant & Machinery Motor Vehicles Total
£ £ £
Cost
As at 1 October 2022 84,357 35,695 120,052
Additions 1,845 - 1,845
As at 30 September 2023 86,202 35,695 121,897
Depreciation
As at 1 October 2022 81,541 30,916 112,457
Provided during the period 1,313 3,187 4,500
As at 30 September 2023 82,854 34,103 116,957
Net Book Value
As at 30 September 2023 3,348 1,592 4,940
As at 1 October 2022 2,816 4,779 7,595
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5. Stocks
2023 2022
£ £
Materials 63,623 59,656
6. Debtors
2023 2022
£ £
Due within one year
Trade debtors 29,803 8,227
Other debtors 966 1,177
VAT - 616
Other taxes and social security - 362
30,769 10,382
7. Creditors: Amounts Falling Due Within One Year
2023 2022
£ £
Net obligations under finance lease and hire purchase contracts - 3,393
Trade creditors 122 131
Bank loans and overdrafts 5,400 5,400
Corporation tax 18,000 15,266
VAT 883 -
Accruals and deferred income 400 400
Director's loan account 322 533
25,127 25,123
8. Creditors: Amounts Falling Due After More Than One Year
2023 2022
£ £
Net obligations under finance lease and hire purchase contracts - 859
Bank loans 7,978 12,928
7,978 13,787
9. Obligations Under Finance Leases and Hire Purchase
2023 2022
£ £
The future minimum finance lease payments are as follows:
Not later than one year - 3,393
Later than one year and not later than five years - 859
- 4,252
- 4,252
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10. Share Capital
2023 2022
£ £
Allotted, Called up and fully paid 2 2
11. Related Party Transactions
At the year end, 30 September 2023, the company owed the director £322 (2022: £533) in respect of loans held with the company. These amounts are interest free and repayable on demand.
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