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 07913946 Mr S Briggs-Price Mr T Briggs Price Mr T Briggs-Price iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 07913946 2023-03-31 07913946 2024-03-31 07913946 2023-04-01 2024-03-31 07913946 frs-core:CurrentFinancialInstruments 2024-03-31 07913946 frs-core:Non-currentFinancialInstruments 2024-03-31 07913946 frs-core:BetweenOneFiveYears 2024-03-31 07913946 frs-core:ComputerEquipment 2024-03-31 07913946 frs-core:ComputerEquipment 2023-04-01 2024-03-31 07913946 frs-core:ComputerEquipment 2023-03-31 07913946 frs-core:FurnitureFittings 2024-03-31 07913946 frs-core:FurnitureFittings 2023-04-01 2024-03-31 07913946 frs-core:FurnitureFittings 2023-03-31 07913946 frs-core:MotorVehicles 2024-03-31 07913946 frs-core:MotorVehicles 2023-04-01 2024-03-31 07913946 frs-core:MotorVehicles 2023-03-31 07913946 frs-core:PlantMachinery 2024-03-31 07913946 frs-core:PlantMachinery 2023-04-01 2024-03-31 07913946 frs-core:PlantMachinery 2023-03-31 07913946 frs-core:WithinOneYear 2024-03-31 07913946 frs-core:ShareCapital 2024-03-31 07913946 frs-core:RetainedEarningsAccumulatedLosses 2024-03-31 07913946 frs-bus:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 07913946 frs-bus:FilletedAccounts 2023-04-01 2024-03-31 07913946 frs-bus:SmallEntities 2023-04-01 2024-03-31 07913946 frs-bus:AuditExempt-NoAccountantsReport 2023-04-01 2024-03-31 07913946 frs-bus:SmallCompaniesRegimeForAccounts 2023-04-01 2024-03-31 07913946 frs-bus:Director1 2023-04-01 2024-03-31 07913946 frs-bus:Director2 2023-04-01 2024-03-31 07913946 frs-bus:CompanySecretary1 2023-04-01 2024-03-31 07913946 frs-countries:EnglandWales 2023-04-01 2024-03-31 07913946 2022-03-31 07913946 2023-03-31 07913946 2022-04-01 2023-03-31 07913946 frs-core:CurrentFinancialInstruments 2023-03-31 07913946 frs-core:Non-currentFinancialInstruments 2023-03-31 07913946 frs-core:BetweenOneFiveYears 2023-03-31 07913946 frs-core:WithinOneYear 2023-03-31 07913946 frs-core:ShareCapital 2023-03-31 07913946 frs-core:RetainedEarningsAccumulatedLosses 2023-03-31
Registered number: 07913946
Stephen Price Surfacing Limited
Financial Statements
For The Year Ended 31 March 2024
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 07913946
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 413,886 349,115
413,886 349,115
CURRENT ASSETS
Debtors 5 1,737,281 1,393,122
Cash at bank and in hand 131,045 286,874
1,868,326 1,679,996
Creditors: Amounts Falling Due Within One Year 6 (682,590 ) (641,361 )
NET CURRENT ASSETS (LIABILITIES) 1,185,736 1,038,635
TOTAL ASSETS LESS CURRENT LIABILITIES 1,599,622 1,387,750
Creditors: Amounts Falling Due After More Than One Year 7 (10,000 ) (15,625 )
PROVISIONS FOR LIABILITIES
Deferred Taxation (78,166 ) (35,699 )
NET ASSETS 1,511,456 1,336,426
CAPITAL AND RESERVES
Called up share capital 9 100 100
Profit and Loss Account 1,511,356 1,336,326
SHAREHOLDERS' FUNDS 1,511,456 1,336,426
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 S Briggs-Price
Director
24 July 2024
The notes on pages 3 to 5 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Stephen Price Surfacing Limited is a private company, limited by shares, incorporated in England & Wales, registered number 07913946 . The registered office is 550 Valley Rd, Basford, Nottingham, NG5 1JJ.
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 20% Reducing Balance
Motor Vehicles 25% Reducing Balance
Fixtures & Fittings 20% Reducing Balance
Computer Equipment 25% Reducing Balance
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. 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. 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. The carrying amount of deferred tax assets is reviewed at the end of each reporting period.
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.
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3. Average Number of Employees
Average number of employees, including directors, during the year was: 8 (2023: 15)
8 15
4. Tangible Assets
Plant & Machinery Motor Vehicles Fixtures & Fittings Computer Equipment Total
£ £ £ £ £
Cost
As at 1 April 2023 394,568 208,487 29,684 14,507 647,246
Additions 918 182,511 - 3,965 187,394
As at 31 March 2024 395,486 390,998 29,684 18,472 834,640
Depreciation
As at 1 April 2023 184,253 77,078 25,797 11,003 298,131
Provided during the period 42,251 77,857 983 1,532 122,623
As at 31 March 2024 226,504 154,935 26,780 12,535 420,754
Net Book Value
As at 31 March 2024 168,982 236,063 2,904 5,937 413,886
As at 1 April 2023 210,315 131,409 3,887 3,504 349,115
5. Debtors
2024 2023
£ £
Due within one year
Trade debtors 755,456 534,986
VAT 167,407 62,109
Amounts owed by group undertakings 814,418 796,027
1,737,281 1,393,122
6. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Net obligations under finance lease and hire purchase contracts 15,637 18,026
Trade creditors 387,668 341,354
Corporation tax 84,422 46,960
Other taxes and social security 11,130 6,757
Other creditors 15,546 47,814
Accruals and deferred income 2,750 51,250
Directors' loan accounts 165,437 129,200
682,590 641,361
7. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Net obligations under finance lease and hire purchase contracts 10,000 15,625
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8. Obligations Under Finance Leases and Hire Purchase
2024 2023
£ £
The future minimum finance lease payments are as follows:
Not later than one year 15,637 18,026
Later than one year and not later than five years 10,000 15,625
25,637 33,651
25,637 33,651
9. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 100 100
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