Acorah Software Products - Accounts Production 14.6.300 false true 30 November 2022 30 November 2021 false 1 December 2022 30 November 2023 30 November 2023 05609057 Mr David Colledge iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 05609057 2022-11-30 05609057 2023-11-30 05609057 2022-12-01 2023-11-30 05609057 frs-core:CurrentFinancialInstruments 2023-11-30 05609057 frs-core:ComputerEquipment 2023-11-30 05609057 frs-core:ComputerEquipment 2022-12-01 2023-11-30 05609057 frs-core:ComputerEquipment 2022-11-30 05609057 frs-core:FurnitureFittings 2023-11-30 05609057 frs-core:FurnitureFittings 2022-12-01 2023-11-30 05609057 frs-core:FurnitureFittings 2022-11-30 05609057 frs-core:NetGoodwill 2023-11-30 05609057 frs-core:NetGoodwill 2022-12-01 2023-11-30 05609057 frs-core:NetGoodwill 2022-11-30 05609057 frs-core:LandBuildings frs-core:OwnedOrFreeholdAssets 2023-11-30 05609057 frs-core:LandBuildings frs-core:OwnedOrFreeholdAssets 2022-12-01 2023-11-30 05609057 frs-core:LandBuildings frs-core:OwnedOrFreeholdAssets 2022-11-30 05609057 frs-core:MotorVehicles 2023-11-30 05609057 frs-core:MotorVehicles 2022-12-01 2023-11-30 05609057 frs-core:MotorVehicles 2022-11-30 05609057 frs-core:PlantMachinery 2023-11-30 05609057 frs-core:PlantMachinery 2022-12-01 2023-11-30 05609057 frs-core:PlantMachinery 2022-11-30 05609057 frs-core:ShareCapital 2023-11-30 05609057 frs-core:RetainedEarningsAccumulatedLosses 2023-11-30 05609057 frs-bus:PrivateLimitedCompanyLtd 2022-12-01 2023-11-30 05609057 frs-bus:FilletedAccounts 2022-12-01 2023-11-30 05609057 frs-bus:SmallEntities 2022-12-01 2023-11-30 05609057 frs-bus:AuditExempt-NoAccountantsReport 2022-12-01 2023-11-30 05609057 frs-bus:SmallCompaniesRegimeForAccounts 2022-12-01 2023-11-30 05609057 frs-bus:Director1 2022-12-01 2023-11-30 05609057 frs-countries:EnglandWales 2022-12-01 2023-11-30 05609057 2021-11-29 05609057 2022-11-30 05609057 2021-11-30 2022-11-30 05609057 frs-core:CurrentFinancialInstruments 2022-11-30 05609057 frs-core:ShareCapital 2022-11-30 05609057 frs-core:RetainedEarningsAccumulatedLosses 2022-11-30
Registered number: 05609057
Retro Ford Limited
Unaudited Financial Statements
For The Year Ended 30 November 2023
CBTax
17 Grovelands Business Park
West Haddon Road
East Haddon
Northamptonshire
NN6 8FB
Unaudited Financial Statements
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—6
Page 1
Balance Sheet
Registered number: 05609057
2023 2022
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 5 118,400 120,308
118,400 120,308
CURRENT ASSETS
Stocks 6 31,377 32,500
Debtors 7 33,263 47,488
Cash at bank and in hand 814,166 752,184
878,806 832,172
Creditors: Amounts Falling Due Within One Year 8 (75,870 ) (112,526 )
NET CURRENT ASSETS (LIABILITIES) 802,936 719,646
TOTAL ASSETS LESS CURRENT LIABILITIES 921,336 839,954
PROVISIONS FOR LIABILITIES
Deferred Taxation (22,448 ) (22,800 )
NET ASSETS 898,888 817,154
CAPITAL AND RESERVES
Called up share capital 9 1 1
Profit and Loss Account 898,887 817,153
SHAREHOLDERS' FUNDS 898,888 817,154
Page 1
Page 2
For the year ending 30 November 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his 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 David Colledge
Director
08/08/2024
The notes on pages 3 to 6 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Retro Ford Limited is a private company, limited by shares, incorporated in England & Wales, registered number 05609057 . The registered office is Unit 11 Kemp House, Brunel Road, Corby, Northamptonshire, NN17 4AU.
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.
Of the Company's turnover, 30% relates to exports. 
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
Intangible assets are initially measured at cost. After intial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses. 
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 the following annual rates in order to write off each asset over its estimated useful life:
Freehold not provided
Plant & Machinery 15% reducing balance
Motor Vehicles 25% reducing balance
Fixtures & Fittings 15% reducing balance
Computer Equipment 33% reducing balance
2.5. Leasing and Hire Purchase Contracts
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 over the period of the lease.
2.6. 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.
Page 3
Page 4
2.7. 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.
2.8. Pensions
The company operates a defined pension contribution scheme. Contributions are charged to the profit and loss account as they become payable in accordance with the rules of the scheme.
2.9. Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2011, has been amortised evenly over its estimated useful life of five years. 
3. Average Number of Employees
Average number of employees, including directors, during the year was: 5 (2022: 5)
5 5
4. Intangible Assets
Goodwill
£
Cost
As at 1 December 2022 10,500
As at 30 November 2023 10,500
Amortisation
As at 1 December 2022 10,500
As at 30 November 2023 10,500
Page 4
Page 5
5. Tangible Assets
Land & Property
Freehold Plant & Machinery Motor Vehicles Fixtures & Fittings
£ £ £ £
Cost
As at 1 December 2022 110,000 6,910 5,208 4,260
As at 30 November 2023 110,000 6,910 5,208 4,260
Depreciation
As at 1 December 2022 - 3,014 3,057 822
Provided during the period - 584 538 515
As at 30 November 2023 - 3,598 3,595 1,337
Net Book Value
As at 30 November 2023 110,000 3,312 1,613 2,923
As at 1 December 2022 110,000 3,896 2,151 3,438
Computer Equipment Total
£ £
Cost
As at 1 December 2022 3,434 129,812
As at 30 November 2023 3,434 129,812
Depreciation
As at 1 December 2022 2,611 9,504
Provided during the period 271 1,908
As at 30 November 2023 2,882 11,412
Net Book Value
As at 30 November 2023 552 118,400
As at 1 December 2022 823 120,308
6. Stocks
2023 2022
£ £
Stock 31,377 32,500
7. Debtors
2023 2022
£ £
Due within one year
Trade debtors 33,263 47,488
33,263 47,488
Page 5
Page 6
8. Creditors: Amounts Falling Due Within One Year
2023 2022
£ £
Trade creditors 30,336 67,085
Corporation tax 5,124 22,183
Other taxes and social security 29,547 992
VAT 7,077 18,481
Accruals and deferred income 2,800 2,800
Director's loan account 986 985
75,870 112,526
9. Share Capital
2023 2022
£ £
Allotted, Called up and fully paid 1 1
Page 6