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Registered number: 08332016
Energized Customs 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: 08332016
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 5 11,384 14,159
11,384 14,159
CURRENT ASSETS
Stocks 6 695,050 624,308
Debtors 7 186,794 161,373
Cash at bank and in hand 619,811 324,933
1,501,655 1,110,614
Creditors: Amounts Falling Due Within One Year 8 (687,979 ) (532,360 )
NET CURRENT ASSETS (LIABILITIES) 813,676 578,254
TOTAL ASSETS LESS CURRENT LIABILITIES 825,060 592,413
Creditors: Amounts Falling Due After More Than One Year 9 (100,833 ) (170,833 )
PROVISIONS FOR LIABILITIES
Deferred Taxation (2,599 ) (3,248 )
NET ASSETS 721,628 418,332
CAPITAL AND RESERVES
Called up share capital 10 2 2
Profit and Loss Account 721,626 418,330
SHAREHOLDERS' FUNDS 721,628 418,332
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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 Graham Lisle
Director
2 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
Energized Customs Limited is a private company, limited by shares, incorporated in England & Wales, registered number 08332016 . The registered office is Avf, Hortonwood 30, Telford, TF1 7YE.

The financial statements are presented in pound sterling (£) and rounded to the nearest whole £.
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.
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. Turnover is reduced for estimated customer returns, rebates and other similar allowances.

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.

2.3. Intangible Fixed Assets and Amortisation - Goodwill
Goodwill is the difference between amounts paid on the acquisition of a business and the fair value of the separable net assets. It is amortised to profit and loss account over its estimated economic life of 5 years.
2.4. 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 25% reducing balance
Fixtures & Fittings 25% reducing balance
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
Derivative financial instruments are recognised at fair value using a valuation technique with any gains or losses being reported in the profit and loss account. Outstanding derivatives at the reporting date are included under the appropriate format heading depending on the nature of the derivative.

The company does not currently apply hedge accounting for foreign exchange derivatives.
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.
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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 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.
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.
2.10. Government Grant
Government grants are recognised in the profit and loss account in an appropriate manner that matches them with the expenditure towards which they are intended to contribute.

Grants for immediate financial support or to cover costs already incurred are recognised immediately in the profit and loss account. Grants towards general activities of the entity over a specific period are recognised in the profit and loss account over that period.

Grants towards fixed assets are recognised over the expected useful lives of the related assets and are treated as deferred income and released to the profit and loss account over the useful life of the asset concerned.

All grants in the profit and loss account are recognised when all conditions for receipt have been complied with.
2.11. Employee benefits
The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 14 (2023: 13)
14 13
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4. Intangible Assets
Goodwill
£
Cost
As at 1 April 2023 121,192
As at 31 March 2024 121,192
Amortisation
As at 1 April 2023 121,192
As at 31 March 2024 121,192
Net Book Value
As at 31 March 2024 -
As at 1 April 2023 -
5. Tangible Assets
Plant & Machinery Fixtures & Fittings Total
£ £ £
Cost
As at 1 April 2023 6,400 52,903 59,303
Additions 473 492 965
As at 31 March 2024 6,873 53,395 60,268
Depreciation
As at 1 April 2023 4,434 40,710 45,144
Provided during the period 571 3,169 3,740
As at 31 March 2024 5,005 43,879 48,884
Net Book Value
As at 31 March 2024 1,868 9,516 11,384
As at 1 April 2023 1,966 12,193 14,159
6. Stocks
2024 2023
£ £
Stock 695,050 624,308
7. Debtors
2024 2023
£ £
Due within one year
Trade debtors 102,915 61,149
Prepayments and accrued income 31,828 32,500
Other debtors 52,051 67,724
186,794 161,373
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8. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 253,942 238,921
Bank loans and overdrafts 70,000 70,000
Corporation tax 122,267 35,137
Other taxes and social security 16,548 4,188
VAT 129,174 138,199
Net wages 23,589 1,775
Other creditors 46,079 18,874
Accruals and deferred income 25,982 25,222
Directors' loan accounts 398 44
687,979 532,360
9. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Bank loans 100,833 170,833
10. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 2 2
11. Other Commitments
The total of future minimum lease payments under non-cancellable operating leases are as following:
2024 2023
£ £
Not later than one year - 52,193
- 52,193
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. Included within Other Creditors at the balance sheet date are unpaid contributions of £1,082 (2023: £Nil) due to the fund.
13. Related Party Transactions
Included within other debtors is a balance of £25,121 (2023: £58,124) owed by a company under common control. No interest has been charged on the outstanding balance and there were no conditions attached.
14. Ultimate Controlling Party
The company's ultimate controlling party is the directors by virtue of their interest in the issued share capital in the company.
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