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 04581311 Mr Sean Richard Clayton Mrs Janet Clayton iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 04581311 2023-03-31 04581311 2024-03-31 04581311 2023-04-01 2024-03-31 04581311 frs-core:CurrentFinancialInstruments 2024-03-31 04581311 frs-core:Non-currentFinancialInstruments 2024-03-31 04581311 frs-core:BetweenOneFiveYears 2024-03-31 04581311 frs-core:FurnitureFittings 2024-03-31 04581311 frs-core:FurnitureFittings 2023-04-01 2024-03-31 04581311 frs-core:FurnitureFittings 2023-03-31 04581311 frs-core:MotorVehicles 2024-03-31 04581311 frs-core:MotorVehicles 2023-04-01 2024-03-31 04581311 frs-core:MotorVehicles 2023-03-31 04581311 frs-core:PlantMachinery 2024-03-31 04581311 frs-core:PlantMachinery 2023-04-01 2024-03-31 04581311 frs-core:PlantMachinery 2023-03-31 04581311 frs-core:WithinOneYear 2024-03-31 04581311 frs-core:CapitalRedemptionReserve 2024-03-31 04581311 frs-core:ShareCapital 2024-03-31 04581311 frs-core:RetainedEarningsAccumulatedLosses 2024-03-31 04581311 frs-bus:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 04581311 frs-bus:FilletedAccounts 2023-04-01 2024-03-31 04581311 frs-bus:SmallEntities 2023-04-01 2024-03-31 04581311 frs-bus:AuditExempt-NoAccountantsReport 2023-04-01 2024-03-31 04581311 frs-bus:SmallCompaniesRegimeForAccounts 2023-04-01 2024-03-31 04581311 frs-bus:Director1 2023-04-01 2024-03-31 04581311 frs-bus:Director1 2023-03-31 04581311 frs-bus:Director1 2024-03-31 04581311 frs-bus:Director2 2023-04-01 2024-03-31 04581311 frs-countries:EnglandWales 2023-04-01 2024-03-31 04581311 frs-core:Non-currentFinancialInstruments frs-core:MoreThanFiveYears 2023-03-31 04581311 2022-03-31 04581311 2023-03-31 04581311 2022-04-01 2023-03-31 04581311 frs-core:CurrentFinancialInstruments 2023-03-31 04581311 frs-core:Non-currentFinancialInstruments 2023-03-31 04581311 frs-core:BetweenOneFiveYears 2023-03-31 04581311 frs-core:WithinOneYear 2023-03-31 04581311 frs-core:CapitalRedemptionReserve 2023-03-31 04581311 frs-core:ShareCapital 2023-03-31 04581311 frs-core:RetainedEarningsAccumulatedLosses 2023-03-31
Registered number: 04581311
M.D.M.S. 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: 04581311
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 17,004 23,910
17,004 23,910
CURRENT ASSETS
Stocks 61,893 77,303
Debtors 5 256,590 39,274
Cash at bank and in hand 173,085 230,219
491,568 346,796
Creditors: Amounts Falling Due Within One Year 6 (331,773 ) (137,810 )
NET CURRENT ASSETS (LIABILITIES) 159,795 208,986
TOTAL ASSETS LESS CURRENT LIABILITIES 176,799 232,896
Creditors: Amounts Falling Due After More Than One Year 7 (139,825 ) (186,158 )
PROVISIONS FOR LIABILITIES
Deferred Taxation (4,300 ) (4,500 )
NET ASSETS 32,674 42,238
CAPITAL AND RESERVES
Called up share capital 9 100 100
Capital redemption reserve 90 90
Profit and Loss Account 32,484 42,048
SHAREHOLDERS' FUNDS 32,674 42,238
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 Sean Richard Clayton
Director
13 August 2024
The notes on pages 3 to 6 form part of these financial statements.
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Page 3
Notes to the Financial Statements
1. General Information
M.D.M.S. Limited is a private company, limited by shares, incorporated in England & Wales, registered number 04581311 . The registered office is Units B4-B8 Shay Lane, Longridge, Preston, PR3 3BT.
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 and machinery 25% on cost
Motor vehicles 25% on written down value
Fixtures and fittings 25% on cost
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.
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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. 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: 3 (2023: 3)
3 3
4. Tangible Assets
Plant and machinery Motor vehicles Fixtures and fittings Total
£ £ £ £
Cost
As at 1 April 2023 6,730 32,012 19,519 58,261
As at 31 March 2024 6,730 32,012 19,519 58,261
Depreciation
As at 1 April 2023 6,730 11,005 16,616 34,351
Provided during the period - 5,252 1,654 6,906
As at 31 March 2024 6,730 16,257 18,270 41,257
...CONTINUED
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Net Book Value
As at 31 March 2024 - 15,755 1,249 17,004
As at 1 April 2023 - 21,007 2,903 23,910
5. Debtors
2024 2023
£ £
Due within one year
Trade debtors 241,106 10,031
Other debtors 15,484 29,243
256,590 39,274
6. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Net obligations under finance lease and hire purchase contracts 5,903 5,496
Trade creditors 235,270 66,583
Bank loans and overdrafts 40,451 36,107
Other creditors 4,312 3,966
Taxation and social security 45,837 25,658
331,773 137,810
Net obligations under finance lease and hire purchase contracts are secured on certain plant, machinery and motor vehicles.
7. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Net obligations under finance lease and hire purchase contracts 3,114 9,016
Bank loans 136,711 177,142
139,825 186,158
Net obligations under finance lease and hire purchase contracts are secured on certain plant, machinery and motor vehicles.
Of the creditors falling due after more than one year the following amounts are due after more than five years.
2024 2023
£ £
Bank loans - 7,669
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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 5,903 5,496
Later than one year and not later than five years 3,114 9,016
9,017 14,512
9,017 14,512
9. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 100 100
10. Other Commitments
The total of future minimum lease payments under non-cancellable operating leases are as following:
2024 2023
£ £
Not later than one year 10,845 15,838
Later than one year and not later than five years - 4,211
10,845 20,049
11. Directors Advances, Credits and Guarantees
Included within Debtors are the following loans to directors:
As at 1 April 2023 Amounts advanced Amounts repaid Amounts written off As at 31 March 2024
£ £ £ £ £
Mr Sean Clayton 17,536 96,650 (113,000 ) - 1,186
Mr. S. R. Clayton, director, paid interest of £767 at a rate of 2.25% on his overdrawn current account which was repaid on 6th April 2024.
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