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Registered number: 06429003
Architectural Timber Solutions Ltd
Unaudited Financial Statements
For The Year Ended 31 December 2023
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—6
Page 1
Balance Sheet
Registered number: 06429003
31 December 2023 31 December 2022
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 88,946 56,718
88,946 56,718
CURRENT ASSETS
Stocks 5 238,000 82,000
Debtors 6 94,914 213,086
Cash at bank and in hand 420 1,790
333,334 296,876
Creditors: Amounts Falling Due Within One Year 7 (304,427 ) (189,899 )
NET CURRENT ASSETS (LIABILITIES) 28,907 106,977
TOTAL ASSETS LESS CURRENT LIABILITIES 117,853 163,695
Creditors: Amounts Falling Due After More Than One Year 8 (11,111 ) (23,891 )
PROVISIONS FOR LIABILITIES
Deferred Taxation (11,244 ) (9,298 )
NET ASSETS 95,498 130,506
CAPITAL AND RESERVES
Called up share capital 10 10 10
Profit and Loss Account 95,488 130,496
SHAREHOLDERS' FUNDS 95,498 130,506
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For the year ending 31 December 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
Mr Darren Jones
Director
2nd August 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
Architectural Timber Solutions Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 06429003 . The registered office is Unit 2a Adelaide Street, Newport, NP20 5NF.
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:
Leasehold straight line over 50 years
Plant & Machinery 15% on the reducing balance method
Motor Vehicles 25% on the reducing balance method
Fixtures & Fittings 15% on the reducing balance method
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.
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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: 16 (2022: 12)
16 12
4. Tangible Assets
Land & Property
Leasehold Plant & Machinery Motor Vehicles Fixtures & Fittings Total
£ £ £ £ £
Cost
As at 1 January 2023 10,000 76,705 42,146 15,371 144,222
Additions 23,380 18,003 - 3,442 44,825
As at 31 December 2023 33,380 94,708 42,146 18,813 189,047
Depreciation
As at 1 January 2023 2,217 52,901 28,120 4,266 87,504
Provided during the period 667 6,271 3,477 2,182 12,597
As at 31 December 2023 2,884 59,172 31,597 6,448 100,101
Net Book Value
As at 31 December 2023 30,496 35,536 10,549 12,365 88,946
As at 1 January 2023 7,783 23,804 14,026 11,105 56,718
5. Stocks
31 December 2023 31 December 2022
£ £
Work in progress 238,000 82,000
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6. Debtors
31 December 2023 31 December 2022
£ £
Due within one year
Trade debtors 90,219 197,196
Prepayments and accrued income 4,695 3,663
VAT - 12,227
94,914 213,086
7. Creditors: Amounts Falling Due Within One Year
31 December 2023 31 December 2022
£ £
Net obligations under finance lease and hire purchase contracts 208 7,959
Trade creditors 156,909 90,560
Bank loans and overdrafts 10,253 16,300
Corporation tax (4,941 ) 11,298
Other taxes and social security 53,312 14,592
VAT 299 -
Other creditors 14,284 19,140
Amounts owed to group undertakings 6,000 -
Amounts owed to parent undertaking 68,103 30,050
304,427 189,899
8. Creditors: Amounts Falling Due After More Than One Year
31 December 2023 31 December 2022
£ £
Net obligations under finance lease and hire purchase contracts - 4,446
Bank loans 11,111 19,445
11,111 23,891
9. Obligations Under Finance Leases and Hire Purchase
31 December 2023 31 December 2022
£ £
The future minimum finance lease payments are as follows:
Not later than one year 208 7,959
Later than one year and not later than five years - 4,446
208 12,405
208 12,405
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10. Share Capital
31 December 2023 31 December 2022
£ £
Allotted, Called up and fully paid 10 10
11. Ultimate Controlling Party
The company's ultimate controlling party is John Ryan Group Limited by virtue of his ownership of 100% of the issued share capital in the company.
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