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REGISTERED NUMBER: 10646644 (England and Wales)









Unaudited Financial Statements

for the Year Ended

29 February 2024

for

Accept Cards Limited

Accept Cards Limited (Registered number: 10646644)






Contents of the Financial Statements
for the Year Ended 29 February 2024




Page

Balance Sheet 1

Notes to the Financial Statements 3


Accept Cards Limited (Registered number: 10646644)

Balance Sheet
29 February 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 98,079 130,772
Tangible assets 5 39,731 37,432
Investments 6 250 150
138,060 168,354

CURRENT ASSETS
Stocks 3,585 10,277
Debtors 7 563,565 518,061
Cash at bank and in hand 327,417 1,715,321
894,567 2,243,659
CREDITORS
Amounts falling due within one year 8 426,747 467,843
NET CURRENT ASSETS 467,820 1,775,816
TOTAL ASSETS LESS CURRENT
LIABILITIES

605,880

1,944,170

PROVISIONS FOR LIABILITIES 6,509 -
NET ASSETS 599,371 1,944,170

CAPITAL AND RESERVES
Called up share capital 10 107 82
Share premium 18,990 -
Retained earnings 580,274 1,944,088
599,371 1,944,170

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 29 February 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 29 February 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

Accept Cards Limited (Registered number: 10646644)

Balance Sheet - continued
29 February 2024


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Profit and Loss Account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 25 July 2024 and were signed on its behalf by:




J Roddan - Director M E Roddan - Director




R D Bradley - Director


Accept Cards Limited (Registered number: 10646644)

Notes to the Financial Statements
for the Year Ended 29 February 2024

1. STATUTORY INFORMATION

Accept Cards Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address are as below:

Registered number: 10646644

Registered office: The Wheatsheaf
Briggate
Elland
HX5 9HG

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in UK and Republic of Ireland" and the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS102 have been applied other than where additional disclosure is required to give a true and fair view.

The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts and value added tax and comprises commissions receivable and terminal rentals.

Turnover from terminal rentals and commissions receivable represents the value of services provided under contracts to the extent that there is a right to consideration and is recorded at the fair value of the consideration received or receivable. Where a contract has only been partially completed at the balance sheet date turnover represents the fair value of the service provided to date based on the stage of completion and the contract activity at the balance sheet date.

Intangible fixed assets - goodwill
Goodwill arising on the acquisition of the business, representing the excess of fair value of the consideration given over the fair value of the identifiable assets and liabilities acquired, has been capitalised and is being written off on a straight line basis over its economic life, which is 10 years. Provision is made for any impairment.

Tangible fixed assets
Tangible fixed assets are stated at purchase cost, net of depreciation.

Depreciation is provided on all tangible assets at rates calculated to write off the cost less estimated residual value of each asset on a straight line or reducing balance basis over its expected useful life as follows:

Plant and machinery etc-25% on reducing balance, straight line over 4 years and straight line
over 6 years

Residual value represents the estimated amount which would currently be obtained from disposal of an asset after deducting estimated costs of disposal, if the asset were already at an age and in the condition expected at the end of its estimated useful life.

The gain or loss arising on the disposal of an asset is determined on the difference between the sale proceeds and the carrying value of the asset, and is recognised in the profit and loss account.

Accept Cards Limited (Registered number: 10646644)

Notes to the Financial Statements - continued
for the Year Ended 29 February 2024

2. ACCOUNTING POLICIES - continued

Investments
Investments are measured at cost less impairment.

Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to sell, which is equivalent to the net realisable value. Cost includes materials, direct labour and an attributable proportion of manufacturing overheads based on normal levels of activity. Cost is calculated using the FIFO (first-in, first-out) method. Provision is made for obsolete, slow-moving or defective items where appropriate.

Taxation
Current tax, including UK corporation tax is provided at amounts expected to be paid (or recovered) using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date where transactions or events that result in an obligation to pay more tax in the future or a right to pay less tax in the future have occurred at the balance sheet date. Timing differences are differences between the company's taxable profits and its results as stated in the financial statements that arise from the inclusion of gains and losses in tax assessments in periods different from those in which they are recognised in the financial statements. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date and are expected to apply to the reversal of the timing difference.

Retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme and that of directors' personal pension schemes are charged to profit or loss in the period to which they relate.

Employee benefits
The costs of short-term employee benefits are recognised as a liability and an expense.

Where material, the cost of any unused holiday entitlement is recognised in the period in which the employee's services are received.

Government grants
Government grants are recognised based on the accrual model and are measured at the fair value of the asset received or receivable. Grants are classified as relating either to revenue or to assets. Grants relating to revenue are recognised in income over the period in which the related costs are recognised.

Distributions
Gifts to the controlling Employee Ownership Trust, formed for the benefit of employees, are included in the financial statements as a distribution in the period in which the gifts are payable.

Accept Cards Limited (Registered number: 10646644)

Notes to the Financial Statements - continued
for the Year Ended 29 February 2024

2. ACCOUNTING POLICIES - continued

Financial instruments
Financial assets and financial liabilities are recognised when the company becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

All financial assets and liabilities are initially measured at transaction price (including transaction costs), unless the arrangement constitutes a financing transaction. If an arrangement constitutes a financing transaction, the financial asset or financial liability is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.

The following assets and liabilities are classified as basic financial instruments - trade debtors, other debtors, cash and bank balances, trade creditors and other creditors.

Trade debtors, other debtors, cash and bank balances, trade creditors and other creditors are measured at the amortised cost equivalent to the undiscounted amount of cash or other consideration expected to be paid or received.

Impairment of assets
Assets are assessed for indicators of impairment at each balance sheet date. If there is objective evidence of impairment, an impairment loss is recognised in profit and loss as described below.

Non financial assets
An asset is impaired when there is objective evidence that, as a result of one or more events that occurred after initial recognition, the estimated recoverable value of the asset has been reduced. The recoverable amount of an asset is the higher of its fair value less costs to sell and its value in use.

Financial assets
For financial assets carried at cost less impairment, the impairment loss is the difference between the asset's carrying amount and the best estimate of the amount that would be received for the asset if it were sold at the reporting date.

Where indicators exist for a decrease in impairment loss, and the decrease can be related objectively to an event occurring after the impairment was recognised, the prior impairment loss is tested to determine reversal. An impairment loss is reversed on an individual impaired financial asset to the extent that the revised recoverable value does not lead to a revised carrying amount higher than the carrying value had impairment not been recognised.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 14 (2023 - 13 ) .

Accept Cards Limited (Registered number: 10646644)

Notes to the Financial Statements - continued
for the Year Ended 29 February 2024

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 March 2023
and 29 February 2024 326,930
AMORTISATION
At 1 March 2023 196,158
Charge for year 32,693
At 29 February 2024 228,851
NET BOOK VALUE
At 29 February 2024 98,079
At 28 February 2023 130,772

5. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 March 2023 96,911
Additions 14,333
At 29 February 2024 111,244
DEPRECIATION
At 1 March 2023 59,479
Charge for year 12,034
At 29 February 2024 71,513
NET BOOK VALUE
At 29 February 2024 39,731
At 28 February 2023 37,432

6. FIXED ASSET INVESTMENTS
Shares in Interest Interest
group in joint in
undertakings venture associate Totals
£    £    £    £   
COST
At 1 March 2023 - 100 50 150
Additions 100 - - 100
Reclassification 50 - (50 ) -
At 29 February 2024 150 100 - 250
NET BOOK VALUE
At 29 February 2024 150 100 - 250
At 28 February 2023 - 100 50 150

Accept Cards Limited (Registered number: 10646644)

Notes to the Financial Statements - continued
for the Year Ended 29 February 2024

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 60,546 56,507
Other debtors 503,019 461,554
563,565 518,061

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 12,735 31,060
Taxation and social security 218,255 138,443
Other creditors 195,757 298,340
426,747 467,843

9. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
2024 2023
£    £   
Within one year 22,000 22,000
Between one and five years - 22,000
22,000 44,000

10. CALLED UP SHARE CAPITAL

2024 2023
£ £
Allotted, issued and fully paid 107 82

During the year 1,500 ordinary £0.01 shares were issued at par, 1,000 ordinary £0.01 shares were issued at £19 per share and 3 redeemable preference shares of £0.01 were issued at par.

11. ULTIMATE CONTROLLING PARTY

Accept Cards Limited is 100% owned by Accept Cards Employee Ownership Trust. The directors consider that there is no ultimate controlling party.