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 08850958 Mr A Fleet Mrs H Fleet iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 08850958 2023-03-31 08850958 2024-03-31 08850958 2023-04-01 2024-03-31 08850958 frs-core:NetGoodwill 2023-04-01 2024-03-31 08850958 frs-core:PlantMachinery 2023-04-01 2024-03-31 08850958 frs-core:ShareCapital 2024-03-31 08850958 frs-core:RetainedEarningsAccumulatedLosses 2024-03-31 08850958 frs-bus:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 08850958 frs-bus:AbridgedAccounts 2023-04-01 2024-03-31 08850958 frs-bus:SmallEntities 2023-04-01 2024-03-31 08850958 frs-bus:AuditExempt-NoAccountantsReport 2023-04-01 2024-03-31 08850958 frs-bus:SmallCompaniesRegimeForAccounts 2023-04-01 2024-03-31 08850958 frs-bus:Director1 2023-04-01 2024-03-31 08850958 frs-bus:Director2 2023-04-01 2024-03-31 08850958 frs-countries:EnglandWales 2023-04-01 2024-03-31 08850958 2022-03-31 08850958 2023-03-31 08850958 2022-04-01 2023-03-31 08850958 frs-core:ShareCapital 2023-03-31 08850958 frs-core:RetainedEarningsAccumulatedLosses 2023-03-31
Registered number: 08850958
AJ Fleet and Co Limited
Unaudited ABRIDGED Financial Statements
For The Year Ended 31 March 2024
Contents
Page
Abridged Statement of Financial Position 1—2
Notes to the Abridged Financial Statements 3—5
Page 1
Abridged Statement of Financial Position
Registered number: 08850958
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 5 4,362 1,971
4,362 1,971
CURRENT ASSETS
Debtors 48,888 44,222
Cash at bank and in hand 43,498 52,477
92,386 96,699
Creditors: Amounts Falling Due Within One Year (51,459 ) (52,816 )
NET CURRENT ASSETS (LIABILITIES) 40,927 43,883
TOTAL ASSETS LESS CURRENT LIABILITIES 45,289 45,854
NET ASSETS 45,289 45,854
CAPITAL AND RESERVES
Called up share capital 6 1 1
Income Statement 45,288 45,853
SHAREHOLDERS' FUNDS 45,289 45,854
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 Income Statement.
All of the company's members have consented to the preparation of an Abridged Income Statement and an Abridged Statement of Financial Position for the year end 31 March 2024 in accordance with section 444(2A) of the Companies Act 2006.
On behalf of the board
Mr A Fleet
Director
22/07/2024
The notes on pages 3 to 5 form part of these financial statements.
Page 2
Page 3
Notes to the Abridged Financial Statements
1. General Information
AJ Fleet and Co Limited is a private company, limited by shares, incorporated in England & Wales, registered number 08850958 . The registered office is Hyde Park House, Cartwright Street, Hyde, Cheshire, SK14 4EH.
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 income statement over its estimated economic life of five 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% straight line
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. Foreign Currencies
Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the statement of financial position 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
2.7. 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.
2.8. Government Grant
Government grants are recognised in the income statement 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 income statement. Grants towards general activities of the entity over a specific period are recognised in the income statement 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 income statement over the useful life of the asset concerned.
All grants in the income statement are recognised when all conditions for receipt have been complied with.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 5 (2023: 4)
5 4
4. Intangible Assets
Total
£
Cost
As at 1 April 2023 33,902
As at 31 March 2024 33,902
Amortisation
As at 1 April 2023 33,902
As at 31 March 2024 33,902
Net Book Value
As at 31 March 2024 -
As at 1 April 2023 -
Page 4
Page 5
5. Tangible Assets
Total
£
Cost
As at 1 April 2023 10,001
Additions 4,048
As at 31 March 2024 14,049
Depreciation
As at 1 April 2023 8,030
Provided during the period 1,657
As at 31 March 2024 9,687
Net Book Value
As at 31 March 2024 4,362
As at 1 April 2023 1,971
6. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 1 1
Page 5