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Registered number: 05151687
Reva Engineering Limited
Unaudited Financial Statements
For The Year Ended 30 November 2023
Unaudited Financial Statements
Contents
Page
Company Information 1
Accountant's Report 2
Balance Sheet 3—4
Notes to the Financial Statements 5—8
Page 1
Company Information
Director Mr M J Eames
Secretary Mrs K L Eames
Company Number 05151687
Registered Office Hanover Buildings
11-13 Hanover Street
Liverpool
Merseyside
L1 3DN
Accountants ERC Accountants & Business Advisers Limited
Chartered Accountants
Hanover Buildings, 11-13 Hanover Street
Liverpool
Merseyside
L1 3DN
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Accountant's Report
Chartered Accountant's report to the director on the preparation of the unaudited statutory accounts of Reva Engineering Limited for the year ended 30 November 2023
In order to assist you to fulfil your duties under the Companies Act 2006, I have prepared for your approval the accounts of Reva Engineering Limited for the year ended 30 November 2023 which comprise the Profit and Loss Account, the Balance Sheet and the related notes from the company's accounting records and from information and explanations you have given to us.
As a practising member of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at http://www.icaew.com/en/membership/regulations-standards-and-guidance.
This report is made solely to the director of Reva Engineering Limited , as a body, in accordance with the terms of our engagement letter dated 12 September 2023. Our work has been undertaken solely to prepare for your approval the accounts of Reva Engineering Limited and state those matters that we have agreed to state to the director of Reva Engineering Limited , as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Reva Engineering Limited and its director, as a body, for our work or for this report.
It is your duty to ensure that Reva Engineering Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit or loss of Reva Engineering Limited . You consider that Reva Engineering Limited is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit of the accounts of Reva Engineering Limited . For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the financial statements.
Signed
ERC Accountants and Business Advisers Limited
29 April 2024
ERC Accountants & Business Advisers Limited
Chartered Accountants
Hanover Buildings, 11-13 Hanover Street
Liverpool
Merseyside
L1 3DN
Page 2
Page 3
Balance Sheet
Registered number: 05151687
2023 2022
Notes £ £ £ £
FIXED ASSETS
Intangible Assets 4 1,650 3,300
Tangible Assets 5 189,500 218,724
191,150 222,024
CURRENT ASSETS
Stocks 6 3,800 3,800
Debtors 7 226,569 233,823
Cash at bank and in hand 44,901 85,614
275,270 323,237
Creditors: Amounts Falling Due Within One Year 8 (112,251 ) (99,622 )
NET CURRENT ASSETS (LIABILITIES) 163,019 223,615
TOTAL ASSETS LESS CURRENT LIABILITIES 354,169 445,639
Creditors: Amounts Falling Due After More Than One Year 9 (15,000 ) (25,000 )
PROVISIONS FOR LIABILITIES
Deferred Taxation (45,347 ) (39,849 )
NET ASSETS 293,822 380,790
CAPITAL AND RESERVES
Called up share capital 10 101 101
Profit and Loss Account 293,721 380,689
SHAREHOLDERS' FUNDS 293,822 380,790
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For the year ending 30 November 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 M J Eames
Director
29 April 2024
The notes on pages 5 to 8 form part of these financial statements.
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Page 5
Notes to the Financial Statements
1. General Information
Reva Engineering Limited is a private company, limited by shares, incorporated in England & Wales, registered number 05151687 . The registered office is Hanover Buildings, 11-13 Hanover Street, Liverpool, Merseyside, L1 3DN.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.

The financial statements are prepared in sterling, which is the functional currency of the entity.

These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
2.2. Turnover
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax.

Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
2.3. Intangible Fixed Assets and Amortisation - Goodwill
Goodwill arises on business acquisitions and represents the excess of the cost of the acquisition over the company's interest in the net amount of the identifiable assets, liabilities and contingent liabilities of the acquired business.

Goodwill is measured at cost less accumulated amortisation and accumulated impairment losses. It is amortised on a straight-line basis over its useful life. Where a reliable estimate of the useful life of goodwill or intangible assets cannot be made, the life is presumed not to exceed ten years

Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of that asset as follows:

Goodwill - 20 years

If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates.
2.4. Tangible Fixed Assets and Depreciation
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent 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 and machinery 15% reducing balance
Motor vehicles 25% reducing balance
2.5. Leasing and Hire Purchase Contracts
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.
2.6. 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.
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2.7. Financial Instruments
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the entity after deducting all of its financial liabilities.

Where the contractual obligations of financial instruments (including share capital) are equivalent to a similar debt instrument, those financial instruments are classed as financial liabilities. Financial liabilities are presented as such in the balance sheet. Finance costs and gains or losses relating to financial liabilities are included in the profit and loss account. Finance costs are calculated so as to produce a constant rate of return on the outstanding liability.

Where the contractual terms of share capital do not have any terms meeting the definition of a financial liability then this is classed as an equity instrument. Dividends and distributions relating to equity instruments are debited direct to equity.
2.8. Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively.

Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
2.9. Provisions
Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense.

Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are
recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised as a finance cost in profit or loss in the period it arises.

2.10. Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund.

When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 6 (2022: 6)
6 6
4. Intangible Assets
Goodwill
£
Cost
As at 1 December 2022 33,000
As at 30 November 2023 33,000
Amortisation
As at 1 December 2022 29,700
Provided during the period 1,650
As at 30 November 2023 31,350
Net Book Value
As at 30 November 2023 1,650
As at 1 December 2022 3,300
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5. Tangible Assets
Plant and machinery Motor vehicles Total
£ £ £
Cost
As at 1 December 2022 695,544 68,594 764,138
Additions 4,800 - 4,800
As at 30 November 2023 700,344 68,594 768,938
Depreciation
As at 1 December 2022 488,975 56,439 545,414
Provided during the period 30,985 3,039 34,024
As at 30 November 2023 519,960 59,478 579,438
Net Book Value
As at 30 November 2023 180,384 9,116 189,500
As at 1 December 2022 206,569 12,155 218,724
6. Stocks
2023 2022
£ £
Stock 3,800 3,800
7. Debtors
2023 2022
£ £
Due within one year
Trade debtors 206,523 190,774
Other debtors 20,046 43,049
226,569 233,823
8. Creditors: Amounts Falling Due Within One Year
2023 2022
£ £
Trade creditors 26,337 31,868
Bank loans and overdrafts 10,000 10,000
Other creditors 41,577 4,387
Taxation and social security 34,337 53,367
112,251 99,622
The debenture is secured by fixed and floating charges dated 22/10/2004 over the undertaking and all property and assets present and future including goodwill, bookdebts, uncalled capital, buildings, fixtures, fixed plant and machinery.
The loans held are 100% secured via the government backed bounce back loan scheme.
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9. Creditors: Amounts Falling Due After More Than One Year
2023 2022
£ £
Bank loans 15,000 25,000
15,000 25,000
The loans held are 100% secured via the government backed bounce back loan scheme.
10. Share Capital
2023 2022
£ £
Allotted, Called up and fully paid 101 101
11. Other Commitments
The total of future minimum lease payments under non-cancellable operating leases are as following:
2023 2022
£ £
Not later than one year 15,900 15,900
15,900 15,900
12. Directors Advances, Credits and Guarantees
A director had a brought forward balanace from the company of £25,000. They received advances during the year totalling £nil (2022: £25,000) and repaid amounts totalling £25,000. The advance carried forward is £nil. (2022: £25,000)
The above loan is unsecured, interest free and repayable on demand.
13. Related Party Transactions
The following related party transactions were undertaken during the year:
A director withdrew amounts during the year totalling £60,000 (2022 : £50,000) and introduced amounts totalling £120,000. At the balance sheet date the amount owed to the director was £35,000 (2022: owed from the director £25,000).
Dividends were paid to the directors in respect of their shareholdings totalling £68,620 (2022: £27,200).
The aggregate remuneration paid to key management personnel for the year was £21,600 (2022: £20,400).
No further transactions with related parties were undertaken, other than those under normal market conditions, such as are required to be disclosed in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
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