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Registered number: 03788384
Abbey Scaffolding (Swindon) Limited
Unaudited Financial Statements
For The Year Ended 31 August 2023
Kenyon & Co
Unaudited Financial Statements
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 03788384
2023 2022
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 1,387,976 1,543,332
1,387,976 1,543,332
CURRENT ASSETS
Debtors 5 1,395,260 1,322,105
Cash at bank and in hand 516,955 237,466
1,912,215 1,559,571
Creditors: Amounts Falling Due Within One Year 6 (819,462 ) (632,362 )
NET CURRENT ASSETS (LIABILITIES) 1,092,753 927,209
TOTAL ASSETS LESS CURRENT LIABILITIES 2,480,729 2,470,541
Creditors: Amounts Falling Due After More Than One Year 7 (149,344 ) (254,186 )
PROVISIONS FOR LIABILITIES
Deferred Taxation (179,533 ) (291,213 )
NET ASSETS 2,151,852 1,925,142
CAPITAL AND RESERVES
Called up share capital 5,000 5,000
Profit and Loss Account 2,146,852 1,920,142
SHAREHOLDERS' FUNDS 2,151,852 1,925,142
Page 1
Page 2
For the year ending 31 August 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 James Barnett
Director
1 May 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
Abbey Scaffolding (Swindon) Limited is a private company, limited by shares, incorporated in England & Wales, registered number 03788384 . The registered office is Units 30 - 31 Units 30 - 31, Whitehill Industrial Park, Swindon, Wiltshire, SN4 7DB.
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 5% straight line
Plant & Machinery 10 - 20% straight line and 33% reducing balance
Motor Vehicles 20% 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. 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.
...CONTINUED
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2.5. Taxation - continued
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: 43 (2022: 36)
43 36
4. Tangible Assets
Land & Property
Freehold Plant & Machinery Motor Vehicles Total
£ £ £ £
Cost
As at 1 September 2022 621,401 1,950,352 966,576 3,538,329
Additions - 123,581 48,429 172,010
Disposals - (12,750 ) (10,950 ) (23,700 )
As at 31 August 2023 621,401 2,061,183 1,004,055 3,686,639
Depreciation
As at 1 September 2022 190,085 1,243,481 561,431 1,994,997
Provided during the period 24,416 144,124 143,914 312,454
Disposals - (1,488 ) (7,300 ) (8,788 )
As at 31 August 2023 214,501 1,386,117 698,045 2,298,663
Net Book Value
As at 31 August 2023 406,900 675,066 306,010 1,387,976
As at 1 September 2022 431,316 706,871 405,145 1,543,332
5. Debtors
2023 2022
£ £
Due within one year
Trade debtors 475,659 504,381
Prepayments and accrued income 40,750 38,446
Other debtors 456,834 91,437
VAT 40,416 37,750
Director's loan account - 85,319
Amounts owed by other participating interests 381,601 564,772
1,395,260 1,322,105
Page 4
Page 5
6. Creditors: Amounts Falling Due Within One Year
2023 2022
£ £
Net obligations under finance lease and hire purchase contracts 56,842 62,154
Trade creditors 229,520 259,954
Other loans 48,000 48,000
Corporation tax 99,557 62,815
Other taxes and social security 36,218 33,251
Other creditors - 14,163
Accruals and deferred income 293,025 152,025
Director's loan account 56,300 -
819,462 632,362
7. Creditors: Amounts Falling Due After More Than One Year
2023 2022
£ £
Net obligations under finance lease and hire purchase contracts 65,344 122,186
Other loans 84,000 132,000
149,344 254,186
8. Obligations Under Finance Leases and Hire Purchase
2023 2022
£ £
The future minimum finance lease payments are as follows:
Not later than one year 56,842 62,154
Later than one year and not later than five years 65,344 122,186
122,186 184,340
122,186 184,340
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