Acorah Software Products - Accounts Production 15.0.310 false true true 31 March 2023 1 April 2022 false 1 April 2023 31 March 2024 31 March 2024 01260855 Mr C J Haigh Miss H M Haigh iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 01260855 2023-03-31 01260855 2024-03-31 01260855 2023-04-01 2024-03-31 01260855 frs-core:CurrentFinancialInstruments 2024-03-31 01260855 frs-core:Non-currentFinancialInstruments 2024-03-31 01260855 frs-core:ComputerEquipment 2024-03-31 01260855 frs-core:ComputerEquipment 2023-04-01 2024-03-31 01260855 frs-core:ComputerEquipment 2023-03-31 01260855 frs-core:MotorVehicles 2024-03-31 01260855 frs-core:MotorVehicles 2023-04-01 2024-03-31 01260855 frs-core:MotorVehicles 2023-03-31 01260855 frs-core:PlantMachinery 2024-03-31 01260855 frs-core:PlantMachinery 2023-04-01 2024-03-31 01260855 frs-core:PlantMachinery 2023-03-31 01260855 frs-core:CapitalRedemptionReserve 2024-03-31 01260855 frs-core:ShareCapital 2024-03-31 01260855 frs-core:RetainedEarningsAccumulatedLosses 2024-03-31 01260855 frs-bus:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 01260855 frs-bus:FilletedAccounts 2023-04-01 2024-03-31 01260855 frs-bus:SmallEntities 2023-04-01 2024-03-31 01260855 frs-bus:AuditExempt-NoAccountantsReport 2023-04-01 2024-03-31 01260855 frs-bus:SmallCompaniesRegimeForAccounts 2023-04-01 2024-03-31 01260855 frs-bus:Director1 2023-04-01 2024-03-31 01260855 frs-bus:CompanySecretary1 2023-04-01 2024-03-31 01260855 frs-countries:EnglandWales 2023-04-01 2024-03-31 01260855 2022-03-31 01260855 2023-03-31 01260855 2022-04-01 2023-03-31 01260855 frs-core:CurrentFinancialInstruments 2023-03-31 01260855 frs-core:Non-currentFinancialInstruments 2023-03-31 01260855 frs-core:MotorVehicles 2022-04-01 2023-03-31 01260855 frs-core:CapitalRedemptionReserve 2023-03-31 01260855 frs-core:ShareCapital 2023-03-31 01260855 frs-core:RetainedEarningsAccumulatedLosses 2023-03-31
Registered number: 01260855
Peerless Fencing Limited
Unaudited Financial Statements
For The Year Ended 31 March 2024
MJH Accountants Limited
129 Woodplumpton Road
Fulwood
Preston
Lancashire
PR2 3LF
Unaudited Financial Statements
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—6
Page 1
Balance Sheet
Registered number: 01260855
2024 2023
as restated
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 3 56,188 57,755
56,188 57,755
CURRENT ASSETS
Stocks 4 51,041 52,688
Debtors 5 69,003 101,657
Cash at bank and in hand 5,185 122,507
125,229 276,852
Creditors: Amounts Falling Due Within One Year 6 (163,951 ) (246,254 )
NET CURRENT ASSETS (LIABILITIES) (38,722 ) 30,598
TOTAL ASSETS LESS CURRENT LIABILITIES 17,466 88,353
Creditors: Amounts Falling Due After More Than One Year 7 - (24,131 )
PROVISIONS FOR LIABILITIES
Deferred Taxation (12,160 ) (10,761 )
NET ASSETS 5,306 53,461
CAPITAL AND RESERVES
Called up share capital 9 2,500 2,500
Capital redemption reserve 2,500 2,500
Profit and Loss Account 306 48,461
SHAREHOLDERS' FUNDS 5,306 53,461
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 member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his 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 C J Haigh
Director
19 July 2024
The notes on pages 3 to 6 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. Accounting Policies
1.1. 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.
1.2. Going Concern Disclosure
The directors have identified material uncertainties related to events or conditions that may cast significant doubt about the company's ability to continue as a going concern, however, the going concern basis remains appropriate, due to the ongoing support of the directors.
1.3. 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.
1.4. 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 20% on written down value
Motor Vehicles 25% on written down value
Computer Equipment 25 % written down value and 33.3% on cost
1.5. 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.
1.6. 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.
Page 3
Page 4
1.7. 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.
1.8. 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.
1.9. Government Grant
Government grants are recognised in the profit and loss account in the period to which they relate.
2. Average Number of Employees
Average number of employees, including directors, during the year was as follows: 10 (2023: 8)
10 8
3. Tangible Assets
Plant & Machinery Motor Vehicles Computer Equipment Total
£ £ £ £
Cost
As at 1 April 2023 105,552 111,026 22,048 238,626
Additions 3,988 - 10,848 14,836
As at 31 March 2024 109,540 111,026 32,896 253,462
Depreciation
As at 1 April 2023 95,616 67,282 17,973 180,871
Provided during the period 2,498 10,938 2,967 16,403
As at 31 March 2024 98,114 78,220 20,940 197,274
Net Book Value
As at 31 March 2024 11,426 32,806 11,956 56,188
As at 1 April 2023 9,936 43,744 4,075 57,755
Page 4
Page 5
Included above are assets held under finance leases or hire purchase contracts with a net book value as follows:
2024 2023
as restated
£ £
Motor Vehicles 8,002 10,670
8,002 10,670
4. Stocks
2024 2023
as restated
£ £
Stock 32,142 22,142
Work in progress 18,899 30,546
51,041 52,688
5. Debtors
2024 2023
as restated
£ £
Due within one year
Trade debtors 54,849 88,854
Other debtors 14,154 12,803
69,003 101,657
6. Creditors: Amounts Falling Due Within One Year
2024 2023
as restated
£ £
Net obligations under finance lease and hire purchase contracts 1,695 4,773
Trade creditors 79,359 167,232
Bank loans and overdrafts 22,435 9,951
Other creditors 53,884 49,905
Taxation and social security 6,578 14,393
163,951 246,254
7. Creditors: Amounts Falling Due After More Than One Year
2024 2023
as restated
£ £
Net obligations under finance lease and hire purchase contracts - 1,695
Bank loans - 22,436
- 24,131
Page 5
Page 6
8. Secured Creditors
Of the creditors the amounts secured are shown below.
National Westminster Bank PLC hold a specific equitable charge over all freehold and leasehold properties and/or the proceeds of the sale thereof and fixed and floating charges over the undertaking and all property and assets present and future, including goodwill, book debts and uncalled capital.
Net obligations under finance leases and hire purchase contracts are secured on the assets concerned.
2024 2023
as restated
£ £
Net obligations under finance lease and hire purchase contracts 1,695 6,468
Bank loans and overdrafts 22,435 32,387
9. Share Capital
2024 2023
as restated
£ £
Allotted, Called up and fully paid 2,500 2,500
10. Pension Commitments
The company operates a defined contribution pension scheme. At the balance sheet date unpaid contributions of £378 (2023 £264) were due to the fund. They are included in Other Creditors.
11. General Information
Peerless Fencing Limited is a private company, limited by shares, incorporated in England & Wales, registered number 01260855 . The registered office is 129 Woodplumpton Road Fulwood, Preston, Lancashire, PR2 3LF.
Page 6