Acorah Software Products - Accounts Production 15.0.600 false true 31 May 2023 1 June 2022 false 1 June 2023 31 May 2024 31 May 2024 07120757 Mr Andrew Eyre iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 07120757 2023-05-31 07120757 2024-05-31 07120757 2023-06-01 2024-05-31 07120757 frs-core:CurrentFinancialInstruments 2024-05-31 07120757 frs-core:Non-currentFinancialInstruments 2024-05-31 07120757 frs-core:BetweenOneFiveYears 2024-05-31 07120757 frs-core:ComputerEquipment 2024-05-31 07120757 frs-core:ComputerEquipment 2023-06-01 2024-05-31 07120757 frs-core:ComputerEquipment 2023-05-31 07120757 frs-core:FurnitureFittings 2024-05-31 07120757 frs-core:FurnitureFittings 2023-06-01 2024-05-31 07120757 frs-core:FurnitureFittings 2023-05-31 07120757 frs-core:NetGoodwill 2024-05-31 07120757 frs-core:NetGoodwill 2023-06-01 2024-05-31 07120757 frs-core:NetGoodwill 2023-05-31 07120757 frs-core:LandBuildings frs-core:LeasedAssetsHeldAsLessee 2024-05-31 07120757 frs-core:LandBuildings frs-core:LeasedAssetsHeldAsLessee 2023-06-01 2024-05-31 07120757 frs-core:LandBuildings frs-core:LeasedAssetsHeldAsLessee 2023-05-31 07120757 frs-core:MotorVehicles 2024-05-31 07120757 frs-core:MotorVehicles 2023-06-01 2024-05-31 07120757 frs-core:MotorVehicles 2023-05-31 07120757 frs-core:PlantMachinery 2024-05-31 07120757 frs-core:PlantMachinery 2023-06-01 2024-05-31 07120757 frs-core:PlantMachinery 2023-05-31 07120757 frs-core:WithinOneYear 2024-05-31 07120757 frs-core:ShareCapital 2024-05-31 07120757 frs-core:RetainedEarningsAccumulatedLosses 2024-05-31 07120757 frs-bus:PrivateLimitedCompanyLtd 2023-06-01 2024-05-31 07120757 frs-bus:FilletedAccounts 2023-06-01 2024-05-31 07120757 frs-bus:SmallEntities 2023-06-01 2024-05-31 07120757 frs-bus:AuditExempt-NoAccountantsReport 2023-06-01 2024-05-31 07120757 frs-bus:SmallCompaniesRegimeForAccounts 2023-06-01 2024-05-31 07120757 frs-bus:Director1 2023-06-01 2024-05-31 07120757 frs-countries:EnglandWales 2023-06-01 2024-05-31 07120757 2022-05-31 07120757 2023-05-31 07120757 2022-06-01 2023-05-31 07120757 frs-core:CurrentFinancialInstruments 2023-05-31 07120757 frs-core:Non-currentFinancialInstruments 2023-05-31 07120757 frs-core:BetweenOneFiveYears 2023-05-31 07120757 frs-core:WithinOneYear 2023-05-31 07120757 frs-core:ShareCapital 2023-05-31 07120757 frs-core:RetainedEarningsAccumulatedLosses 2023-05-31
Registered number: 07120757
Omnia Technical Plastics Ltd
Unaudited Financial Statements
For The Year Ended 31 May 2024
Eyre & Co Accountants Limited
482 Manchester Road
Stocksbridge
South Yorshire
S36 2DU
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—6
Page 1
Balance Sheet
Registered number: 07120757
2024 2023
Notes £ £ £ £
FIXED ASSETS
Intangible Assets 4 501,667 490,000
Tangible Assets 5 378,101 239,965
879,768 729,965
CURRENT ASSETS
Stocks 6 111,376 65,315
Debtors 7 739,141 384,327
Cash at bank and in hand 220 79,213
850,737 528,855
Creditors: Amounts Falling Due Within One Year 8 (1,115,616 ) (848,542 )
NET CURRENT ASSETS (LIABILITIES) (264,879 ) (319,687 )
TOTAL ASSETS LESS CURRENT LIABILITIES 614,889 410,278
Creditors: Amounts Falling Due After More Than One Year 9 (141,851 ) (82,430 )
NET ASSETS 473,038 327,848
CAPITAL AND RESERVES
Called up share capital 11 10,000 10,000
Profit and Loss Account 463,038 317,848
SHAREHOLDERS' FUNDS 473,038 327,848
Page 1
Page 2
For the year ending 31 May 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 Andrew Eyre
Director
30/08/2024
The notes on pages 3 to 6 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Omnia Technical Plastics Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 07120757 . The registered office is 6-7 Viking Road, Wigston, LE18 2BL.
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. 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 .... 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:
Leasehold 10%
Plant & Machinery 25%
Motor Vehicles 33%
Fixtures & Fittings 25%
Computer Equipment 33%
2.5. 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.
2.6. 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.
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.
Page 3
Page 4
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 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.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 22 (2023: 19)
22 19
4. Intangible Assets
Goodwill
£
Cost
As at 1 June 2023 490,000
Additions 11,667
As at 31 May 2024 501,667
Net Book Value
As at 31 May 2024 501,667
As at 1 June 2023 490,000
5. Tangible Assets
Land & Property
Leasehold Plant & Machinery Motor Vehicles Fixtures & Fittings
£ £ £ £
Cost
As at 1 June 2023 112,414 263,334 500 2,753
Additions 26,232 127,500 34,025 -
As at 31 May 2024 138,646 390,834 34,525 2,753
Depreciation
As at 1 June 2023 816 153,858 - 1,698
Provided during the period 12,931 27,396 7,683 688
As at 31 May 2024 13,747 181,254 7,683 2,386
...CONTINUED
Page 4
Page 5
Net Book Value
As at 31 May 2024 124,899 209,580 26,842 367
As at 1 June 2023 111,598 109,476 500 1,055
Computer Equipment Total
£ £
Cost
As at 1 June 2023 34,781 413,782
Additions 2,258 190,015
As at 31 May 2024 37,039 603,797
Depreciation
As at 1 June 2023 17,445 173,817
Provided during the period 3,181 51,879
As at 31 May 2024 20,626 225,696
Net Book Value
As at 31 May 2024 16,413 378,101
As at 1 June 2023 17,336 239,965
6. Stocks
2024 2023
£ £
Stock 111,376 65,315
7. Debtors
2024 2023
£ £
Due within one year
Trade debtors 665,742 336,161
Prepayments and accrued income 44,542 -
Other debtors - 26,638
VAT 28,857 21,528
739,141 384,327
8. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Net obligations under finance lease and hire purchase contracts 47,139 15,271
Trade creditors 255,021 222,224
Other loans 92,257 128,750
Invoice Finance 132,313 250,149
Corporation tax 75,645 68,517
Other taxes and social security 174,114 14,322
Net wages 38,382 -
...CONTINUED
Page 5
Page 6
Other creditors - 8,559
Director's loan account 50,745 40,750
Cumulative preference share dividends unpaid 250,000 100,000
1,115,616 848,542
9. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Net obligations under finance lease and hire purchase contracts 141,851 82,430
10. Obligations Under Finance Leases and Hire Purchase
2024 2023
£ £
The future minimum finance lease payments are as follows:
Not later than one year 47,139 15,271
Later than one year and not later than five years 141,851 82,430
188,990 97,701
188,990 97,701
11. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 10,000 10,000
Page 6