Acorah Software Products - Accounts Production 15.0.500 false true 31 December 2022 1 January 2022 false 1 January 2023 31 December 2023 31 December 2023 05318932 Mr P A Whetton Mr T Lee Mr P A Whetton iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 05318932 2022-12-31 05318932 2023-12-31 05318932 2023-01-01 2023-12-31 05318932 frs-core:CurrentFinancialInstruments 2023-12-31 05318932 frs-core:FurnitureFittings 2023-12-31 05318932 frs-core:FurnitureFittings 2023-01-01 2023-12-31 05318932 frs-core:FurnitureFittings 2022-12-31 05318932 frs-core:MotorVehicles 2023-12-31 05318932 frs-core:MotorVehicles 2023-01-01 2023-12-31 05318932 frs-core:MotorVehicles 2022-12-31 05318932 frs-core:PlantMachinery 2023-12-31 05318932 frs-core:PlantMachinery 2023-01-01 2023-12-31 05318932 frs-core:PlantMachinery 2022-12-31 05318932 frs-core:ShareCapital 2023-12-31 05318932 frs-core:RetainedEarningsAccumulatedLosses 2023-12-31 05318932 frs-bus:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 05318932 frs-bus:FilletedAccounts 2023-01-01 2023-12-31 05318932 frs-bus:SmallEntities 2023-01-01 2023-12-31 05318932 frs-bus:AuditExempt-NoAccountantsReport 2023-01-01 2023-12-31 05318932 frs-bus:SmallCompaniesRegimeForAccounts 2023-01-01 2023-12-31 05318932 frs-bus:Director1 2023-01-01 2023-12-31 05318932 frs-bus:Director2 2023-01-01 2023-12-31 05318932 frs-bus:CompanySecretary1 2023-01-01 2023-12-31 05318932 frs-countries:EnglandWales 2023-01-01 2023-12-31 05318932 2021-12-31 05318932 2022-12-31 05318932 2022-01-01 2022-12-31 05318932 frs-core:CurrentFinancialInstruments 2022-12-31 05318932 frs-core:ShareCapital 2022-12-31 05318932 frs-core:RetainedEarningsAccumulatedLosses 2022-12-31
Registered number: 05318932
A V Injection Limited
Financial Statements
For The Year Ended 31 December 2023
Financial Statements
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 05318932
2023 2022
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 578,909 599,256
578,909 599,256
CURRENT ASSETS
Stocks 5 368,126 378,372
Debtors 6 667,240 982,430
Cash at bank and in hand 341,988 292,684
1,377,354 1,653,486
Creditors: Amounts Falling Due Within One Year 7 (349,975 ) (553,518 )
NET CURRENT ASSETS (LIABILITIES) 1,027,379 1,099,968
TOTAL ASSETS LESS CURRENT LIABILITIES 1,606,288 1,699,224
PROVISIONS FOR LIABILITIES
Deferred Taxation - (2,621 )
NET ASSETS 1,606,288 1,696,603
CAPITAL AND RESERVES
Called up share capital 8 100 100
Profit and Loss Account 1,606,188 1,696,503
SHAREHOLDERS' FUNDS 1,606,288 1,696,603
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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 P A Whetton
Director
31 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
A V Injection Limited is a private company, limited by shares, incorporated in England & Wales, registered number 05318932 . The registered office is The Willows, Ransom Wood Business Park, Southwell Road West, Rainworth, Mansfield, Nottinghamshire, NG21 0HJ.
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 15% to 30% on written down value
Motor Vehicles 35% on written down value
Fixtures & Fittings 25% on written down value
2.4. 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.
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.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 40 (2022: 53)
40 53
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4. Tangible Assets
Plant & Machinery Motor Vehicles Fixtures & Fittings Total
£ £ £ £
Cost
As at 1 January 2023 2,149,930 39,538 62,698 2,252,166
Additions 75,811 - - 75,811
Disposals - (12,080 ) - (12,080 )
As at 31 December 2023 2,225,741 27,458 62,698 2,315,897
Depreciation
As at 1 January 2023 1,576,056 23,290 53,564 1,652,910
Provided during the period 86,258 4,821 2,284 93,363
Disposals - (9,285 ) - (9,285 )
As at 31 December 2023 1,662,314 18,826 55,848 1,736,988
Net Book Value
As at 31 December 2023 563,427 8,632 6,850 578,909
As at 1 January 2023 573,874 16,248 9,134 599,256
5. Stocks
2023 2022
£ £
Raw materials and consumables 217,707 265,692
Finished goods 144,887 81,883
Work in progress 5,532 30,797
368,126 378,372
6. Debtors
2023 2022
£ £
Due within one year
Trade debtors 406,036 489,780
Prepayments and accrued income 59,121 105,065
Other debtors 202,083 387,585
667,240 982,430
The carrying amount of trade debtors pledged as security for liabilities amounted to £406,036 (2022: £489,780).
Barclays Bank PLC Sales Financing have a fixed and floating charge over the book debts of the company.
7. Creditors: Amounts Falling Due Within One Year
2023 2022
£ £
Trade creditors 237,196 343,248
Other taxes and social security 20,065 20,239
VAT 8,078 29,307
Other creditors. 4,607 5,452
Accruals and deferred income 80,029 155,272
349,975 553,518
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8. Share Capital
2023 2022
£ £
Allotted, Called up and fully paid 100 100
9. Related Party Transactions
During the year the company made the following related party transactions:
During the year the company made sales to a company controlled by a close family member of a shareholder of £852,849 (excluding VAT) (2022: £1,079,170) and made purchases of £172,569 (excluding VAT) (2022: £135,137).
At the balance sheet date the amount due from the company was £198,616 (2022: £388,545).
During the year the company made sales to a business controlled by a shareholder of £3,708 (excluding VAT) (2022: £3,005) and made purchases of £1,191 (excluding VAT) (2022: 3,304).
At the balance sheet date the amount due from the business was £3,466 (2022: £960).
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