Acorah Software Products - Accounts Production 14.5.601 false true 31 October 2022 1 November 2021 false 1 November 2022 31 October 2023 31 October 2023 05954010 Mr Darren Forsyth Miss Vanessa Morrison iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 05954010 2022-10-31 05954010 2023-10-31 05954010 2022-11-01 2023-10-31 05954010 frs-core:CurrentFinancialInstruments 2023-10-31 05954010 frs-core:Non-currentFinancialInstruments 2023-10-31 05954010 frs-core:BetweenOneFiveYears 2023-10-31 05954010 frs-core:FurnitureFittings 2023-10-31 05954010 frs-core:FurnitureFittings 2022-11-01 2023-10-31 05954010 frs-core:FurnitureFittings 2022-10-31 05954010 frs-core:NetGoodwill 2023-10-31 05954010 frs-core:NetGoodwill 2022-11-01 2023-10-31 05954010 frs-core:NetGoodwill 2022-10-31 05954010 frs-core:MotorVehicles 2023-10-31 05954010 frs-core:MotorVehicles 2022-11-01 2023-10-31 05954010 frs-core:MotorVehicles 2022-10-31 05954010 frs-core:PlantMachinery 2023-10-31 05954010 frs-core:PlantMachinery 2022-11-01 2023-10-31 05954010 frs-core:PlantMachinery 2022-10-31 05954010 frs-core:WithinOneYear 2023-10-31 05954010 frs-core:ShareCapital 2023-10-31 05954010 frs-core:RetainedEarningsAccumulatedLosses 2023-10-31 05954010 frs-bus:PrivateLimitedCompanyLtd 2022-11-01 2023-10-31 05954010 frs-bus:FilletedAccounts 2022-11-01 2023-10-31 05954010 frs-bus:SmallEntities 2022-11-01 2023-10-31 05954010 frs-bus:AuditExempt-NoAccountantsReport 2022-11-01 2023-10-31 05954010 frs-bus:SmallCompaniesRegimeForAccounts 2022-11-01 2023-10-31 05954010 frs-bus:Director1 2022-11-01 2023-10-31 05954010 frs-bus:Director1 2022-10-31 05954010 frs-bus:Director1 2023-10-31 05954010 frs-bus:Director2 2022-11-01 2023-10-31 05954010 frs-bus:Director2 2022-10-31 05954010 frs-bus:Director2 2023-10-31 05954010 frs-countries:EnglandWales 2022-11-01 2023-10-31 05954010 2021-10-31 05954010 2022-10-31 05954010 2021-11-01 2022-10-31 05954010 frs-core:CurrentFinancialInstruments 2022-10-31 05954010 frs-core:Non-currentFinancialInstruments 2022-10-31 05954010 frs-core:BetweenOneFiveYears 2022-10-31 05954010 frs-core:WithinOneYear 2022-10-31 05954010 frs-core:ShareCapital 2022-10-31 05954010 frs-core:RetainedEarningsAccumulatedLosses 2022-10-31
Registered number: 05954010
m & d Forsyth Electrical Services Limited
Unaudited Financial Statements
For The Year Ended 31 October 2023
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—6
Page 1
Balance Sheet
Registered number: 05954010
2023 2022
Notes £ £ £ £
FIXED ASSETS
Intangible Assets 4 2,001 4,001
Tangible Assets 5 23,846 31,251
25,847 35,252
CURRENT ASSETS
Debtors 6 58,649 54,373
Cash at bank and in hand 18,293 13,604
76,942 67,977
Creditors: Amounts Falling Due Within One Year 7 (64,834 ) (46,842 )
NET CURRENT ASSETS (LIABILITIES) 12,108 21,135
TOTAL ASSETS LESS CURRENT LIABILITIES 37,955 56,387
Creditors: Amounts Falling Due After More Than One Year 8 (32,625 ) (50,318 )
PROVISIONS FOR LIABILITIES
Deferred Taxation (4,531 ) (5,938 )
NET ASSETS 799 131
CAPITAL AND RESERVES
Called up share capital 10 100 100
Profit and Loss Account 699 31
SHAREHOLDERS' FUNDS 799 131
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For the year ending 31 October 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
Miss Vanessa Morrison
Director
30/07/2024
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
m & d Forsyth Electrical Services Limited is a private company, limited by shares, incorporated in England & Wales, registered number 05954010 . The registered office is 76 Church Street, Lancaster, LA1 1ET.
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. 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 5 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% reducing balance
Motor Vehicles 25% reducing balance
Fixtures & Fittings 25% reducing balance
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: 7 (2022: 7)
7 7
4. Intangible Assets
Goodwill
£
Cost
As at 1 November 2022 10,001
As at 31 October 2023 10,001
Amortisation
As at 1 November 2022 6,000
Provided during the period 2,000
As at 31 October 2023 8,000
Net Book Value
As at 31 October 2023 2,001
As at 1 November 2022 4,001
5. Tangible Assets
Plant & Machinery Motor Vehicles Fixtures & Fittings Total
£ £ £ £
Cost
As at 1 November 2022 5,100 41,340 2,260 48,700
Additions - - 700 700
As at 31 October 2023 5,100 41,340 2,960 49,400
...CONTINUED
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Depreciation
As at 1 November 2022 3,565 11,986 1,898 17,449
Provided during the period 384 7,339 382 8,105
As at 31 October 2023 3,949 19,325 2,280 25,554
Net Book Value
As at 31 October 2023 1,151 22,015 680 23,846
As at 1 November 2022 1,535 29,354 362 31,251
6. Debtors
2023 2022
£ £
Due within one year
Trade debtors 43,149 44,524
Corporation tax recoverable assets 3,911 2,416
Directors' loan accounts 11,589 7,433
58,649 54,373
7. Creditors: Amounts Falling Due Within One Year
2023 2022
£ £
Net obligations under finance lease and hire purchase contracts 8,382 7,862
Trade creditors (4 ) 6,995
Bank loans and overdrafts 9,311 9,081
Other taxes and social security 45,651 21,034
Net wages 1,462 1,738
Other creditors 32 132
64,834 46,842
8. Creditors: Amounts Falling Due After More Than One Year
2023 2022
£ £
Net obligations under finance lease and hire purchase contracts 14,935 23,317
Bank loans 17,690 27,001
32,625 50,318
9. Obligations Under Finance Leases and Hire Purchase
2023 2022
£ £
The future minimum finance lease payments are as follows:
Not later than one year 8,382 7,862
Later than one year and not later than five years 14,935 23,317
23,317 31,179
23,317 31,179
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10. Share Capital
2023 2022
£ £
Allotted, Called up and fully paid 100 100
11. Directors Advances, Credits and Guarantees
Included within Debtors are the following loans to directors:
As at 1 November 2022 Amounts advanced Amounts repaid Amounts written off As at 31 October 2023
£ £ £ £ £
Mr Darren Forsyth 3,717 2,078 - - 5,795
Miss Vanessa Morrison 3,717 2,078 - - 5,795
The above loan is unsecured,  interest free and repayable on demand.
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