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 06541914 Mr Dean Taylor Ms Delilah Howells iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 06541914 2023-03-31 06541914 2024-03-31 06541914 2023-04-01 2024-03-31 06541914 frs-core:CurrentFinancialInstruments 2024-03-31 06541914 frs-core:Non-currentFinancialInstruments 2024-03-31 06541914 frs-core:BetweenOneFiveYears 2024-03-31 06541914 frs-core:ComputerEquipment 2024-03-31 06541914 frs-core:ComputerEquipment 2023-04-01 2024-03-31 06541914 frs-core:ComputerEquipment 2023-03-31 06541914 frs-core:FurnitureFittings 2023-04-01 2024-03-31 06541914 frs-core:NetGoodwill 2024-03-31 06541914 frs-core:NetGoodwill 2023-04-01 2024-03-31 06541914 frs-core:NetGoodwill 2023-03-31 06541914 frs-core:LandBuildings frs-core:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 06541914 frs-core:MotorVehicles 2024-03-31 06541914 frs-core:MotorVehicles 2023-04-01 2024-03-31 06541914 frs-core:MotorVehicles 2023-03-31 06541914 frs-core:PlantMachinery 2023-04-01 2024-03-31 06541914 frs-core:WithinOneYear 2024-03-31 06541914 frs-core:ShareCapital 2024-03-31 06541914 frs-core:RetainedEarningsAccumulatedLosses 2024-03-31 06541914 frs-bus:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 06541914 frs-bus:FilletedAccounts 2023-04-01 2024-03-31 06541914 frs-bus:SmallEntities 2023-04-01 2024-03-31 06541914 frs-bus:AuditExempt-NoAccountantsReport 2023-04-01 2024-03-31 06541914 frs-bus:SmallCompaniesRegimeForAccounts 2023-04-01 2024-03-31 06541914 frs-bus:Director1 2023-04-01 2024-03-31 06541914 frs-bus:Director2 2023-04-01 2024-03-31 06541914 frs-core:CurrentFinancialInstruments 1 2024-03-31 06541914 frs-countries:EnglandWales 2023-04-01 2024-03-31 06541914 2022-03-31 06541914 2023-03-31 06541914 2022-04-01 2023-03-31 06541914 frs-core:CurrentFinancialInstruments 2023-03-31 06541914 frs-core:Non-currentFinancialInstruments 2023-03-31 06541914 frs-core:BetweenOneFiveYears 2023-03-31 06541914 frs-core:WithinOneYear 2023-03-31 06541914 frs-core:ShareCapital 2023-03-31 06541914 frs-core:RetainedEarningsAccumulatedLosses 2023-03-31 06541914 frs-core:CurrentFinancialInstruments 1 2023-03-31
Registered number: 06541914
Business Industrial Solutions 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: 06541914
2024 2023
Notes £ £ £ £
FIXED ASSETS
Intangible Assets 4 240,000 320,000
Tangible Assets 5 172,167 119,532
412,167 439,532
CURRENT ASSETS
Stocks 7 203,738 201,793
Debtors 8 2,854,314 1,967,574
Cash at bank and in hand 740,464 656,451
3,798,516 2,825,818
Creditors: Amounts Falling Due Within One Year 9 (3,135,428 ) (2,388,231 )
NET CURRENT ASSETS (LIABILITIES) 663,088 437,587
TOTAL ASSETS LESS CURRENT LIABILITIES 1,075,255 877,119
Creditors: Amounts Falling Due After More Than One Year 10 (34,577 ) (26,779 )
PROVISIONS FOR LIABILITIES
Deferred Taxation (40,986 ) (20,701 )
NET ASSETS 999,692 829,639
CAPITAL AND RESERVES
Called up share capital 12 99 99
Profit and Loss Account 999,593 829,540
SHAREHOLDERS' FUNDS 999,692 829,639
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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 Dean Taylor
Director
29 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. General Information
Business Industrial Solutions Limited is a private company, limited by shares, incorporated in England & Wales, registered number 06541914 . The registered office is Waun-y-Pound Industrial Estate, Ebbw Vale, Blaenau, Gwent, NP23 6PL.
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 form 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 between 5 and 20 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:
Freehold 2% on cost
Plant & Machinery 25% per annum straight line
Motor Vehicles 25% per annum straight line
Fixtures & Fittings 25% per annum straight line
Computer Equipment 25% per annum straight line
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.
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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 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.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 55 (2023: 60)
55 60
4. Intangible Assets
Goodwill
£
Cost
As at 1 April 2023 1,653,573
As at 31 March 2024 1,653,573
Amortisation
As at 1 April 2023 1,333,573
Provided during the period 80,000
As at 31 March 2024 1,413,573
Net Book Value
As at 31 March 2024 240,000
As at 1 April 2023 320,000
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5. Tangible Assets
Motor Vehicles Computer Equipment Total
£ £ £
Cost
As at 1 April 2023 185,219 30,716 215,935
Additions 72,041 36,694 108,735
Disposals (31,420 ) - (31,420 )
As at 31 March 2024 225,840 67,410 293,250
Depreciation
As at 1 April 2023 73,500 22,903 96,403
Provided during the period 48,636 7,464 56,100
Disposals (31,420 ) - (31,420 )
As at 31 March 2024 90,716 30,367 121,083
Net Book Value
As at 31 March 2024 135,124 37,043 172,167
As at 1 April 2023 111,719 7,813 119,532
6. Investments
7. Stocks
2024 2023
£ £
Finished goods 203,738 201,793
8. Debtors
2024 2023
£ £
Due within one year
Trade debtors 2,720,415 1,945,754
Corporation tax recoverable assets 21,820 21,820
Amounts owed by group undertakings 112,079 -
2,854,314 1,967,574
9. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Net obligations under finance lease and hire purchase contracts 22,709 29,307
Trade creditors 1,602,890 1,093,017
Corporation tax 164,616 44,044
Other taxes and social security 30,841 50,525
VAT 106,197 57,745
Invoice discounting loan 1,101,501 1,072,838
Other creditors 92,716 7,990
Accruals and deferred income 13,958 32,765
3,135,428 2,388,231
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10. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Net obligations under finance lease and hire purchase contracts 34,577 26,779
11. Obligations Under Finance Leases and Hire Purchase
2024 2023
£ £
The future minimum finance lease payments are as follows:
Not later than one year 22,709 29,307
Later than one year and not later than five years 34,577 26,779
57,286 56,086
57,286 56,086
12. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 99 99
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