Acorah Software Products - Accounts Production 15.0.400 false true 31 December 2022 1 January 2022 false 1 January 2023 31 December 2023 31 December 2023 05469977 Mr Eian Pritchard Mrs Helen Pritchard Mr Jason Pritchard Mrs Helen Pritchard iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 05469977 2022-12-31 05469977 2023-12-31 05469977 2023-01-01 2023-12-31 05469977 frs-core:CurrentFinancialInstruments 2023-12-31 05469977 frs-core:ComputerEquipment 2023-12-31 05469977 frs-core:ComputerEquipment 2023-01-01 2023-12-31 05469977 frs-core:ComputerEquipment 2022-12-31 05469977 frs-core:FurnitureFittings 2023-12-31 05469977 frs-core:FurnitureFittings 2023-01-01 2023-12-31 05469977 frs-core:FurnitureFittings 2022-12-31 05469977 frs-core:LandBuildings frs-core:OwnedOrFreeholdAssets 2023-12-31 05469977 frs-core:LandBuildings frs-core:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 05469977 frs-core:LandBuildings frs-core:OwnedOrFreeholdAssets 2022-12-31 05469977 frs-core:MotorVehicles 2023-12-31 05469977 frs-core:MotorVehicles 2023-01-01 2023-12-31 05469977 frs-core:MotorVehicles 2022-12-31 05469977 frs-core:PlantMachinery 2023-12-31 05469977 frs-core:PlantMachinery 2023-01-01 2023-12-31 05469977 frs-core:PlantMachinery 2022-12-31 05469977 frs-core:ShareCapital 2023-12-31 05469977 frs-core:RetainedEarningsAccumulatedLosses 2023-12-31 05469977 frs-bus:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 05469977 frs-bus:FilletedAccounts 2023-01-01 2023-12-31 05469977 frs-bus:SmallEntities 2023-01-01 2023-12-31 05469977 frs-bus:AuditExempt-NoAccountantsReport 2023-01-01 2023-12-31 05469977 frs-bus:SmallCompaniesRegimeForAccounts 2023-01-01 2023-12-31 05469977 frs-bus:Director1 2023-01-01 2023-12-31 05469977 frs-bus:Director1 2022-12-31 05469977 frs-bus:Director1 2023-12-31 05469977 frs-bus:Director2 2023-01-01 2023-12-31 05469977 frs-bus:Director3 2023-01-01 2023-12-31 05469977 frs-bus:CompanySecretary1 2023-01-01 2023-12-31 05469977 frs-core:CurrentFinancialInstruments 1 2023-12-31 05469977 frs-countries:EnglandWales 2023-01-01 2023-12-31 05469977 2021-12-31 05469977 2022-12-31 05469977 2022-01-01 2022-12-31 05469977 frs-core:CurrentFinancialInstruments 2022-12-31 05469977 frs-core:WithinOneYear 2022-12-31 05469977 frs-core:ShareCapital 2022-12-31 05469977 frs-core:RetainedEarningsAccumulatedLosses 2022-12-31 05469977 frs-core:CurrentFinancialInstruments 1 2022-12-31
Registered number: 05469977
North Road Garage (Builth Wells) Limited
Unaudited Financial Statements
For The Year Ended 31 December 2023
Unaudited Financial Statements
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—6
Page 1
Balance Sheet
Registered number: 05469977
2023 2022
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 177,166 193,574
177,166 193,574
CURRENT ASSETS
Stocks 5 2,110,792 1,549,561
Debtors 6 135,319 137,471
Cash at bank and in hand 98 37
2,246,209 1,687,069
Creditors: Amounts Falling Due Within One Year 7 (1,697,618 ) (1,201,325 )
NET CURRENT ASSETS (LIABILITIES) 548,591 485,744
TOTAL ASSETS LESS CURRENT LIABILITIES 725,757 679,318
PROVISIONS FOR LIABILITIES
Deferred Taxation (29,506 ) (27,194 )
NET ASSETS 696,251 652,124
CAPITAL AND RESERVES
Called up share capital 9 250,000 250,000
Profit and Loss Account 446,251 402,124
SHAREHOLDERS' FUNDS 696,251 652,124
Page 1
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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 Eian Pritchard
Director
11/07/2024
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
North Road Garage (Builth Wells) Limited is a private company, limited by shares, incorporated in England & Wales, registered number 05469977 . The registered office is North Road Garage, Station Road, Builth Wells, Powys, LD2 3SS.
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 75 Years Straight Line
Plant & Machinery 20% Reducing Balance
Motor Vehicles 25% Reducing Balance
Fixtures & Fittings 20% Reducing Balance
Computer Equipment 3 Years 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. 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 year 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 asset reflects 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: 14 (2022: 11)
14 11
4. Tangible Assets
Land & Property
Freehold Plant & Machinery Motor Vehicles Fixtures & Fittings
£ £ £ £
Cost
As at 1 January 2023 7,174 218,885 84,729 136,763
Additions - 5,454 - -
As at 31 December 2023 7,174 224,339 84,729 136,763
Depreciation
As at 1 January 2023 1,188 130,798 - 122,335
Provided during the period 48 18,236 - 4,555
As at 31 December 2023 1,236 149,034 - 126,890
Net Book Value
As at 31 December 2023 5,938 75,305 84,729 9,873
As at 1 January 2023 5,986 88,087 84,729 14,428
Computer Equipment Total
£ £
Cost
As at 1 January 2023 75,814 523,365
Additions 1,433 6,887
As at 31 December 2023 77,247 530,252
...CONTINUED
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Depreciation
As at 1 January 2023 75,470 329,791
Provided during the period 456 23,295
As at 31 December 2023 75,926 353,086
Net Book Value
As at 31 December 2023 1,321 177,166
As at 1 January 2023 344 193,574
5. Stocks
2023 2022
£ £
Stock - parts 102,932 108,714
Stock - vehicles 2,000,559 1,437,578
Work in progress 7,301 3,269
2,110,792 1,549,561
6. Debtors
2023 2022
£ £
Due within one year
Trade debtors 32,027 41,675
Prepayments and accrued income 13,399 14,854
VAT 89,893 26,796
Directors' loan accounts - 54,146
135,319 137,471
7. Creditors: Amounts Falling Due Within One Year
2023 2022
£ £
Net obligations under finance lease and hire purchase contracts - 1,266
Trade creditors 168,409 85,025
Bank loans and overdrafts 301,899 231,244
Corporation tax 33,565 24,808
Other taxes and social security 7,391 7,420
Other creditors 123,433 154,964
Vehicle funding 957,095 555,105
Accruals and deferred income 105,826 141,493
1,697,618 1,201,325
8. Obligations Under Finance Leases and Hire Purchase
2023 2022
£ £
The future minimum finance lease payments are as follows:
Not later than one year - 1,266
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9. Share Capital
2023 2022
£ £
Allotted, Called up and fully paid 250,000 250,000
10. Directors Advances, Credits and Guarantees
Included within Debtors are the following loans to directors:
As at 1 January 2023 Amounts advanced Amounts repaid Amounts written off As at 31 December 2023
£ £ £ £ £
Mr Eian Pritchard 54,145 - 54,145 - -
The above loan is unsecured, repayable on demand and interest is charged at the HMRC Official Rate.
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