Acorah Software Products - Accounts Production 15.0.600 false true 31 March 2023 1 April 2022 false 1 April 2023 31 March 2024 31 March 2024 05356397 Mr Samuel Walmsley Mr Nicholas Walker true iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 05356397 2023-03-31 05356397 2024-03-31 05356397 2023-04-01 2024-03-31 05356397 frs-core:CurrentFinancialInstruments 2024-03-31 05356397 frs-core:Non-currentFinancialInstruments 2024-03-31 05356397 frs-core:ComputerEquipment 2024-03-31 05356397 frs-core:ComputerEquipment 2023-04-01 2024-03-31 05356397 frs-core:ComputerEquipment 2023-03-31 05356397 frs-core:FurnitureFittings 2024-03-31 05356397 frs-core:FurnitureFittings 2023-04-01 2024-03-31 05356397 frs-core:FurnitureFittings 2023-03-31 05356397 frs-core:LandBuildings frs-core:LeasedAssetsHeldAsLessee 2024-03-31 05356397 frs-core:LandBuildings frs-core:LeasedAssetsHeldAsLessee 2023-04-01 2024-03-31 05356397 frs-core:LandBuildings frs-core:LeasedAssetsHeldAsLessee 2023-03-31 05356397 frs-core:PlantMachinery 2024-03-31 05356397 frs-core:PlantMachinery 2023-04-01 2024-03-31 05356397 frs-core:PlantMachinery 2023-03-31 05356397 frs-core:WithinOneYear 2024-03-31 05356397 frs-core:ShareCapital 2024-03-31 05356397 frs-core:RetainedEarningsAccumulatedLosses 2024-03-31 05356397 frs-bus:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 05356397 frs-bus:FilletedAccounts 2023-04-01 2024-03-31 05356397 frs-bus:SmallEntities 2023-04-01 2024-03-31 05356397 frs-bus:AuditExempt-NoAccountantsReport 2023-04-01 2024-03-31 05356397 frs-bus:SmallCompaniesRegimeForAccounts 2023-04-01 2024-03-31 05356397 1 2023-04-01 2024-03-31 05356397 frs-bus:Director1 2023-04-01 2024-03-31 05356397 frs-bus:Director2 2023-04-01 2024-03-31 05356397 frs-countries:EnglandWales 2023-04-01 2024-03-31 05356397 2022-03-31 05356397 2023-03-31 05356397 2022-04-01 2023-03-31 05356397 frs-core:CurrentFinancialInstruments 2023-03-31 05356397 frs-core:Non-currentFinancialInstruments 2023-03-31 05356397 frs-core:WithinOneYear 2023-03-31 05356397 frs-core:ShareCapital 2023-03-31 05356397 frs-core:RetainedEarningsAccumulatedLosses 2023-03-31
Registered number: 05356397
L.O.C. Manufacturing Limited
Unaudited Financial Statements
For The Year Ended 31 March 2024
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—6
Page 1
Balance Sheet
Registered number: 05356397
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 292,629 268,741
292,629 268,741
CURRENT ASSETS
Stocks 5 85,013 49,720
Debtors 6 97,460 101,112
Cash at bank and in hand 16,169 196,662
198,642 347,494
Creditors: Amounts Falling Due Within One Year 7 (424,655 ) (392,406 )
NET CURRENT ASSETS (LIABILITIES) (226,013 ) (44,912 )
TOTAL ASSETS LESS CURRENT LIABILITIES 66,616 223,829
Creditors: Amounts Falling Due After More Than One Year 8 (46,379 ) (128,243 )
NET ASSETS 20,237 95,586
CAPITAL AND RESERVES
Called up share capital 11 210,000 210,000
Profit and Loss Account (189,763 ) (114,414 )
SHAREHOLDERS' FUNDS 20,237 95,586
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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 Nicholas Walker
Director
13 August 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
L.O.C. Manufacturing Limited is a private company, limited by shares, incorporated in England & Wales, registered number 05356397 . The registered office is 1 Elm Crescent, Kingston Upon Thames, Surrey, KT2 6HL.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements are prepared under the historical cost convention and in accordance with the FRS 102 Section 1A Small Entities - The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.

These financial statements are presented in pound sterling which is the functional currency of the company.
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:
Leasehold 15% on reducing balance and 5 year straight line
Plant & Machinery 25% on reducing balance
Fixtures & Fittings 25% on reducing balance
Computer Equipment 25% on 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. 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.
2.6. Financial Instruments
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially measured at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.

Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
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2.7. Foreign Currencies
Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate ruling on the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
2.8. 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.
2.9. 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.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 9 (2023: 9)
9 9
4. Tangible Assets
Land & Property
Leasehold Plant & Machinery Fixtures & Fittings Computer Equipment Total
£ £ £ £ £
Cost
As at 1 April 2023 182,414 536,046 83,650 72,237 874,347
Additions 53,352 30,769 - 15,398 99,519
As at 31 March 2024 235,766 566,815 83,650 87,635 973,866
Depreciation
As at 1 April 2023 110,409 399,210 41,055 54,932 605,606
Provided during the period 21,133 36,748 10,649 7,101 75,631
As at 31 March 2024 131,542 435,958 51,704 62,033 681,237
Net Book Value
As at 31 March 2024 104,224 130,857 31,946 25,602 292,629
As at 1 April 2023 72,005 136,836 42,595 17,305 268,741
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5. Stocks
2024 2023
£ £
Finished goods 83,013 44,152
Work in progress 2,000 5,568
85,013 49,720
6. Debtors
2024 2023
£ £
Due within one year
Trade debtors 10,641 22,337
Prepayments and accrued income 14,128 -
Deferred tax current asset 72,691 78,775
97,460 101,112
7. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Net obligations under finance lease and hire purchase contracts - 14,226
Trade creditors 13,413 11,524
Bank loans and overdrafts 89,103 84,636
Other taxes and social security 27,403 30,682
Other creditors 3,288 1,844
Accruals and deferred income 34,450 28,760
Amounts owed to parent undertaking 256,998 220,734
424,655 392,406
8. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Bank loans 46,379 128,243
9. Secured Creditors
Of the creditors falling due within and after more than one year the following amounts are secured against assets of the compmany:
2024 2023
£ £
Net obligations under finance lease and hire purchase contracts - 14,226
10. Obligations Under Finance Leases and Hire Purchase
2024 2023
£ £
The future minimum finance lease payments are as follows:
Not later than one year - 14,226
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11. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 210,000 210,000
12. Pension Commitments
The company operates a defined contribution pension scheme for its employees. The assets of the scheme are held separately from those of the company in an independently administered fund. At the balance sheet date unpaid contributions of £1,567 (2023: £1,483) were due to the fund. They are included in Other Creditors.
13. Ultimate Parent Undertaking and Controlling Party
The company's immediate and ultimate parent undertaking is The London Orthotic Consultancy Limited . Its registered office is 1 Elm Crescent, Kingston Upon Thames, Surrey, England, KT2 6HL.
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