Acorah Software Products - Accounts Production 15.0.500 false true 31 March 2023 1 April 2022 false 1 April 2023 31 March 2024 31 March 2024 07016985 Mr C Pearce Mr M Pearce Mrs S A Pearce iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 07016985 2023-03-31 07016985 2024-03-31 07016985 2023-04-01 2024-03-31 07016985 frs-core:CurrentFinancialInstruments 2024-03-31 07016985 frs-core:Non-currentFinancialInstruments 2024-03-31 07016985 frs-core:BetweenOneFiveYears 2024-03-31 07016985 frs-core:ComputerEquipment 2024-03-31 07016985 frs-core:ComputerEquipment 2023-04-01 2024-03-31 07016985 frs-core:ComputerEquipment 2023-03-31 07016985 frs-core:FurnitureFittings 2024-03-31 07016985 frs-core:FurnitureFittings 2023-04-01 2024-03-31 07016985 frs-core:FurnitureFittings 2023-03-31 07016985 frs-core:NetGoodwill 2024-03-31 07016985 frs-core:NetGoodwill 2023-04-01 2024-03-31 07016985 frs-core:NetGoodwill 2023-03-31 07016985 frs-core:MotorVehicles 2024-03-31 07016985 frs-core:MotorVehicles 2023-04-01 2024-03-31 07016985 frs-core:MotorVehicles 2023-03-31 07016985 frs-core:PlantMachinery 2024-03-31 07016985 frs-core:PlantMachinery 2023-04-01 2024-03-31 07016985 frs-core:PlantMachinery 2023-03-31 07016985 frs-core:WithinOneYear 2024-03-31 07016985 frs-core:ShareCapital 2024-03-31 07016985 frs-core:RetainedEarningsAccumulatedLosses 2024-03-31 07016985 frs-bus:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 07016985 frs-bus:FilletedAccounts 2023-04-01 2024-03-31 07016985 frs-bus:SmallEntities 2023-04-01 2024-03-31 07016985 frs-bus:AuditExempt-NoAccountantsReport 2023-04-01 2024-03-31 07016985 frs-bus:SmallCompaniesRegimeForAccounts 2023-04-01 2024-03-31 07016985 frs-bus:Director1 2023-04-01 2024-03-31 07016985 frs-bus:Director2 2023-04-01 2024-03-31 07016985 frs-bus:CompanySecretary1 2023-04-01 2024-03-31 07016985 frs-countries:EnglandWales 2023-04-01 2024-03-31 07016985 2022-03-31 07016985 2023-03-31 07016985 2022-04-01 2023-03-31 07016985 frs-core:CurrentFinancialInstruments 2023-03-31 07016985 frs-core:Non-currentFinancialInstruments 2023-03-31 07016985 frs-core:BetweenOneFiveYears 2023-03-31 07016985 frs-core:MotorVehicles 2022-04-01 2023-03-31 07016985 frs-core:WithinOneYear 2023-03-31 07016985 frs-core:ShareCapital 2023-03-31 07016985 frs-core:RetainedEarningsAccumulatedLosses 2023-03-31
Registered number: 07016985
Pearces Private Hire Ltd
Unaudited Financial Statements
For The Year Ended 31 March 2024
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—7
Page 1
Balance Sheet
Registered number: 07016985
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 5 1,021,627 1,004,298
1,021,627 1,004,298
CURRENT ASSETS
Debtors 6 194,601 180,952
Cash at bank and in hand 537,387 222,446
731,988 403,398
Creditors: Amounts Falling Due Within One Year 7 (380,275 ) (265,159 )
NET CURRENT ASSETS (LIABILITIES) 351,713 138,239
TOTAL ASSETS LESS CURRENT LIABILITIES 1,373,340 1,142,537
Creditors: Amounts Falling Due After More Than One Year 8 (383,085 ) (553,455 )
PROVISIONS FOR LIABILITIES
Deferred Taxation (255,406 ) (202,684 )
NET ASSETS 734,849 386,398
CAPITAL AND RESERVES
Called up share capital 11 1,000 1,000
Profit and Loss Account 733,849 385,398
SHAREHOLDERS' FUNDS 734,849 386,398
Page 1
Page 2
For the year ending 31 March 2024 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 M Pearce
Director
26th July 2024
The notes on pages 3 to 7 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Pearces Private Hire Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 07016985 . The registered office is Tower Road Industrial Estate, Berinsfield, Wallingford, Oxfordshire, OX10 7LN.
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.
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. Intangible Fixed Assets and Amortisation - Goodwill
Goodwill is the difference between amounts paid on the acquisition of a business and the fair value of the separable net assets. It is amortised to profit and loss account over its estimated economic life of 10 years.
2.4. 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 25% on reducing balance
Motor Vehicles 20% on reducing balance
Fixtures & Fittings 25% on reducing balance
Computer Equipment 33% on cost
2.5. 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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2.6. 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: 18 (2023: 18)
18 18
4. Intangible Assets
Goodwill
£
Cost
As at 1 April 2023 148,081
As at 31 March 2024 148,081
Amortisation
As at 1 April 2023 148,081
As at 31 March 2024 148,081
Net Book Value
As at 31 March 2024 -
As at 1 April 2023 -
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5. Tangible Assets
Plant & Machinery Motor Vehicles Fixtures & Fittings Computer Equipment Total
£ £ £ £ £
Cost
As at 1 April 2023 31,039 2,519,693 4,444 4,960 2,560,136
Additions - 309,250 - - 309,250
Disposals - (262,438 ) - - (262,438 )
As at 31 March 2024 31,039 2,566,505 4,444 4,960 2,606,948
Depreciation
As at 1 April 2023 27,092 1,520,299 3,487 4,960 1,555,838
Provided during the period 987 254,487 239 - 255,713
Disposals - (226,230 ) - - (226,230 )
As at 31 March 2024 28,079 1,548,556 3,726 4,960 1,585,321
Net Book Value
As at 31 March 2024 2,960 1,017,949 718 - 1,021,627
As at 1 April 2023 3,947 999,394 957 - 1,004,298
Included above are assets held under finance leases or hire purchase contracts with a net book value as follows:
2024 2023
£ £
Motor Vehicles 597,825 747,282
6. Debtors
2024 2023
£ £
Due within one year
Trade debtors 165,797 173,551
Other debtors 28,804 7,401
194,601 180,952
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7. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Net obligations under finance lease and hire purchase contracts 120,370 120,370
Trade creditors 43,313 34,994
Bank loans and overdrafts 50,000 50,000
Other creditors 19,369 33,122
Taxation and social security 147,223 26,673
380,275 265,159
8. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Net obligations under finance lease and hire purchase contracts 308,085 428,455
Bank loans 75,000 125,000
383,085 553,455
9. Secured Creditors
Of the creditors the following amounts are secured.
The company bank overdraft facility is secured by a charge over the commercial premises which are owned by the directors M Pearce and C Pearce.
Hire purchase liabilities are secured on the assets to which they relate to.
2024 2023
£ £
Net obligations under finance lease and hire purchase contracts 428,545 548,825
Bank loans and overdrafts 125,000 175,000
10. Obligations Under Finance Leases and Hire Purchase
2024 2023
£ £
The future minimum finance lease payments are as follows:
Not later than one year 136,875 136,875
Later than one year and not later than five years 339,537 476,412
476,412 613,287
Less: Finance charges allocated to future periods 47,957 64,462
428,455 548,825
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11. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 1,000 1,000
Page 7