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 5763155 Mrs Janet Deacon Mr Richard Deacon iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 5763155 2023-03-31 5763155 2024-03-31 5763155 2023-04-01 2024-03-31 5763155 frs-core:CurrentFinancialInstruments 2024-03-31 5763155 frs-core:ComputerEquipment 2024-03-31 5763155 frs-core:ComputerEquipment 2023-04-01 2024-03-31 5763155 frs-core:ComputerEquipment 2023-03-31 5763155 frs-core:FurnitureFittings 2024-03-31 5763155 frs-core:FurnitureFittings 2023-04-01 2024-03-31 5763155 frs-core:FurnitureFittings 2023-03-31 5763155 frs-core:MotorVehicles 2024-03-31 5763155 frs-core:MotorVehicles 2023-04-01 2024-03-31 5763155 frs-core:MotorVehicles 2023-03-31 5763155 frs-core:PlantMachinery 2024-03-31 5763155 frs-core:PlantMachinery 2023-04-01 2024-03-31 5763155 frs-core:PlantMachinery 2023-03-31 5763155 frs-core:ShareCapital 2024-03-31 5763155 frs-core:RetainedEarningsAccumulatedLosses 2024-03-31 5763155 frs-bus:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 5763155 frs-bus:FilletedAccounts 2023-04-01 2024-03-31 5763155 frs-bus:SmallEntities 2023-04-01 2024-03-31 5763155 frs-bus:AuditExempt-NoAccountantsReport 2023-04-01 2024-03-31 5763155 frs-bus:SmallCompaniesRegimeForAccounts 2023-04-01 2024-03-31 5763155 frs-bus:Director1 2023-04-01 2024-03-31 5763155 frs-bus:Director2 2023-04-01 2024-03-31 5763155 frs-countries:EnglandWales 2023-04-01 2024-03-31 5763155 2022-03-31 5763155 2023-03-31 5763155 2022-04-01 2023-03-31 5763155 frs-core:CurrentFinancialInstruments 2023-03-31 5763155 frs-core:ShareCapital 2023-03-31 5763155 frs-core:RetainedEarningsAccumulatedLosses 2023-03-31
Registered number: 5763155
Radfab Ltd
Unaudited Financial Statements
For The Year Ended 31 March 2024
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—4
Page 1
Balance Sheet
Registered number: 5763155
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 36,345 33,793
36,345 33,793
CURRENT ASSETS
Debtors 5 98,466 249,167
Cash at bank and in hand 306,807 150,857
405,273 400,024
Creditors: Amounts Falling Due Within One Year 6 (119,174 ) (91,646 )
NET CURRENT ASSETS (LIABILITIES) 286,099 308,378
TOTAL ASSETS LESS CURRENT LIABILITIES 322,444 342,171
PROVISIONS FOR LIABILITIES
Deferred Taxation (6,336 ) (6,422 )
NET ASSETS 316,108 335,749
CAPITAL AND RESERVES
Called up share capital 7 100 100
Profit and Loss Account 316,008 335,649
SHAREHOLDERS' FUNDS 316,108 335,749
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 Richard Deacon
Director
4th June 2024
The notes on pages 3 to 4 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Radfab Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 5763155 . The registered office is 46 Hullbridge Road, South Woodham Ferrers, Essex, CM3 5NG.
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:
Plant & Machinery 25% reducing balance
Motor Vehicles 25% reducing balance
Fixtures & Fittings 25% reducing balance
Computer Equipment 25% reducing balance
2.4. 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: 12 (2023: 12)
12 12
Page 3
Page 4
4. Tangible Assets
Plant & Machinery Motor Vehicles Fixtures & Fittings Computer Equipment Total
£ £ £ £ £
Cost
As at 1 April 2023 238,842 50,604 2,266 4,058 295,770
Additions 11,000 - - - 11,000
As at 31 March 2024 249,842 50,604 2,266 4,058 306,770
Depreciation
As at 1 April 2023 208,634 47,622 1,963 3,758 261,977
Provided during the period 7,552 745 76 75 8,448
As at 31 March 2024 216,186 48,367 2,039 3,833 270,425
Net Book Value
As at 31 March 2024 33,656 2,237 227 225 36,345
As at 1 April 2023 30,208 2,982 303 300 33,793
5. Debtors
2024 2023
£ £
Due within one year
Trade debtors 69,313 134,583
Prepayments and accrued income 173 173
Other debtors 28,980 114,411
98,466 249,167
6. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 79,598 73,214
Corporation tax 27,561 3,105
Other taxes and social security 5,243 5,069
VAT 2,069 5,555
Other creditors 520 520
Accruals and deferred income 4,183 4,183
119,174 91,646
7. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 100 100
Page 4