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 03737386 Mr Graham Bassett Mr Graham Bassett iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 03737386 2023-03-31 03737386 2024-03-31 03737386 2023-04-01 2024-03-31 03737386 frs-core:CurrentFinancialInstruments 2024-03-31 03737386 frs-core:ComputerEquipment 2024-03-31 03737386 frs-core:ComputerEquipment 2023-04-01 2024-03-31 03737386 frs-core:ComputerEquipment 2023-03-31 03737386 frs-core:MotorVehicles 2024-03-31 03737386 frs-core:MotorVehicles 2023-04-01 2024-03-31 03737386 frs-core:MotorVehicles 2023-03-31 03737386 frs-core:PlantMachinery 2024-03-31 03737386 frs-core:PlantMachinery 2023-04-01 2024-03-31 03737386 frs-core:PlantMachinery 2023-03-31 03737386 frs-core:ShareCapital 2024-03-31 03737386 frs-core:RetainedEarningsAccumulatedLosses 2024-03-31 03737386 frs-bus:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 03737386 frs-bus:FilletedAccounts 2023-04-01 2024-03-31 03737386 frs-bus:SmallEntities 2023-04-01 2024-03-31 03737386 frs-bus:AuditExempt-NoAccountantsReport 2023-04-01 2024-03-31 03737386 frs-bus:SmallCompaniesRegimeForAccounts 2023-04-01 2024-03-31 03737386 frs-bus:Director1 2023-04-01 2024-03-31 03737386 frs-bus:Director2 2023-04-01 2024-03-31 03737386 frs-countries:EnglandWales 2023-04-01 2024-03-31 03737386 2022-03-31 03737386 2023-03-31 03737386 2022-04-01 2023-03-31 03737386 frs-core:CurrentFinancialInstruments 2023-03-31 03737386 frs-core:ShareCapital 2023-03-31 03737386 frs-core:RetainedEarningsAccumulatedLosses 2023-03-31
Registered number: 03737386
M.S.M. Accident Repairs Limited
Financial Statements
For The Year Ended 31 March 2024
Hames Partnership Anstey Limited
Chartered Institute of Management Accountants (CIMA)
19A The Nook
Anstey
Leicester
Leicestershire
LE7 7AZ
Financial Statements
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—4
Page 1
Balance Sheet
Registered number: 03737386
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 3,319 5,458
3,319 5,458
CURRENT ASSETS
Stocks 5 12,425 10,120
Debtors 6 11,477 14,791
Cash at bank and in hand 6,258 24,009
30,160 48,920
Creditors: Amounts Falling Due Within One Year 7 (33,349 ) (39,194 )
NET CURRENT ASSETS (LIABILITIES) (3,189 ) 9,726
TOTAL ASSETS LESS CURRENT LIABILITIES 130 15,184
NET ASSETS 130 15,184
CAPITAL AND RESERVES
Called up share capital 8 2 2
Profit and Loss Account 128 15,182
SHAREHOLDERS' FUNDS 130 15,184
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 Graham Bassett
Director
09/08/2024
The notes on pages 3 to 4 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
M.S.M. Accident Repairs Limited is a private company, limited by shares, incorporated in England & Wales, registered number 03737386 . The registered office is Units 1-4 Richmond Terrace, Nuffield Road, Harrowbrook Industrial Estate, Hinckley, Leicestershire, LE10 3DT.
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% Reducing balance
Motor Vehicles 25% Straight line
Computer Equipment 33.33% Reducing balance
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.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 5 (2023: 5)
5 5
4. Tangible Assets
Plant & Machinery Motor Vehicles Computer Equipment Total
£ £ £ £
Cost
As at 1 April 2023 24,212 9,000 4,081 37,293
Additions 300 - - 300
As at 31 March 2024 24,512 9,000 4,081 37,593
Depreciation
As at 1 April 2023 23,253 4,500 4,082 31,835
Provided during the period 189 2,250 - 2,439
As at 31 March 2024 23,442 6,750 4,082 34,274
...CONTINUED
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Page 4
Net Book Value
As at 31 March 2024 1,070 2,250 (1 ) 3,319
As at 1 April 2023 959 4,500 (1 ) 5,458
5. Stocks
2024 2023
£ £
Materials 7,550 7,620
Work in progress 4,875 2,500
12,425 10,120
6. Debtors
2024 2023
£ £
Due within one year
Trade debtors 10,793 14,114
Prepayments and accrued income 684 677
11,477 14,791
7. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 2,448 4,197
Other taxes and social security 2,492 1,303
VAT 7,866 11,541
Net wages 1,730 1,423
Accruals and deferred income 830 820
Directors' loan accounts 17,983 19,910
33,349 39,194
8. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 2 2
Page 4