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REGISTERED NUMBER: 01601453 (England and Wales)















ACCORD (MIDLANDS) LIMITED

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024






ACCORD (MIDLANDS) LIMITED (REGISTERED NUMBER: 01601453)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


ACCORD (MIDLANDS) LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2024







DIRECTOR: J D Gumm





REGISTERED OFFICE: Unit 7
Carver Business Park
Astonfields Road
Stafford
Staffordshire
ST16 3HR





REGISTERED NUMBER: 01601453 (England and Wales)

ACCORD (MIDLANDS) LIMITED (REGISTERED NUMBER: 01601453)

BALANCE SHEET
31 MARCH 2024

2024 2023
Notes £    £   
FIXED ASSETS
Tangible assets 4 83,973 53,124

CURRENT ASSETS
Stocks 5 11,005 14,045
Debtors 6 156,246 100,185
Cash at bank 83,624 147,849
250,875 262,079
CREDITORS
Amounts falling due within one year 7 (75,284 ) (69,942 )
NET CURRENT ASSETS 175,591 192,137
TOTAL ASSETS LESS CURRENT LIABILITIES 259,564 245,261

CREDITORS
Amounts falling due after more than one
year

8

(22,222

)

(3,750

)

PROVISIONS FOR LIABILITIES (15,955 ) (10,094 )
NET ASSETS 221,387 231,417

CAPITAL AND RESERVES
Called up share capital 10 16,000 16,000
Retained earnings 205,387 215,417
SHAREHOLDERS' FUNDS 221,387 231,417

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

ACCORD (MIDLANDS) LIMITED (REGISTERED NUMBER: 01601453)

BALANCE SHEET - continued
31 MARCH 2024


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Profit and Loss Account has not been delivered.

The financial statements were approved by the director and authorised for issue on 27 August 2024 and were signed by:





J D Gumm - Director


ACCORD (MIDLANDS) LIMITED (REGISTERED NUMBER: 01601453)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024


1. STATUTORY INFORMATION

Accord (Midlands) Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

The financial statements are presented in sterling which is the functional currency of the company and rounded to the nearest £.

The significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated.

Turnover
Turnover is measured at the fair value of the consideration received or receivable net of VAT and trade discounts. The policies adopted for the recognition of turnover are as follows:

Sale of goods
Turnover from the sale of scrap metals is recognised when significant risks and rewards of ownership of the goods have transferred to the buyer, the amount of turnover can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the company and the costs incurred or to be incurred in respect of the transaction can be measured reliably. This is usually on dispatch of the goods.

Rendering of services
When the outcome of a transaction can be estimated reliably, turnover from plumbing services is recognised by reference to the stage of completion at the balance sheet date. Stage of completion is measured by reference to the quoted service.
Where the outcome cannot be measured reliably, turnover is recognised only to the extent of the expenses recognised that are recoverable.

Tangible fixed assets
Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost less estimated residual value of each asset over its expected useful life, as follows:

Computer equipment33% straight line
Plant and machinery25% reducing balance
Fixtures, fittings and equipment15% reducing balance
Motor vehicles25% reducing balance

Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing stock to its present location and condition. Cost is calculated using the first-in, first-out formula. Provision is made for damaged, obsolete and slow-moving stock where appropriate.


ACCORD (MIDLANDS) LIMITED (REGISTERED NUMBER: 01601453)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024


2. ACCOUNTING POLICIES - continued
Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss Account, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Hire purchase and leases
Assets obtained under hire purchase contracts and finance leases are capitalised as tangible assets and depreciated over the shorter of the lease term and their useful lives. Minimum lease payments are apportioned between the finance charge and the reduction of the outstanding lease liability using the effective interest method. The related obligations, net of future finance charges, are included in creditors.

Employee benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Debtors and creditors receivable / payable within one year
Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 11 (2023 - 10 ) .

ACCORD (MIDLANDS) LIMITED (REGISTERED NUMBER: 01601453)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024


4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 April 2023 191,194
Additions 64,280
Disposals (22,414 )
At 31 March 2024 233,060
DEPRECIATION
At 1 April 2023 138,070
Charge for year 29,321
Eliminated on disposal (18,304 )
At 31 March 2024 149,087
NET BOOK VALUE
At 31 March 2024 83,973
At 31 March 2023 53,124

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Plant and
machinery
etc
£   
COST
At 1 April 2023 86,439
Additions 63,031
At 31 March 2024 149,470
DEPRECIATION
At 1 April 2023 56,441
Charge for year 23,257
At 31 March 2024 79,698
NET BOOK VALUE
At 31 March 2024 69,772
At 31 March 2023 29,998

ACCORD (MIDLANDS) LIMITED (REGISTERED NUMBER: 01601453)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024


5. STOCKS
2024 2023
£    £   
Raw materials 11,005 14,045

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 130,029 88,140
VAT 5,391 6,838
Prepayments and accrued income 20,826 5,207
156,246 100,185

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Hire purchase contracts 20,417 5,000
Trade creditors 37,079 45,972
Tax - 2,954
Social security and other taxes 8,065 5,366
Other creditors 6,944 7,838
Accrued expenses 2,779 2,812
75,284 69,942

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Hire purchase contracts 22,222 3,750

9. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Hire purchase contracts 42,639 8,750

Bank loans are secured by a personal guarantee provided by the director.

ACCORD (MIDLANDS) LIMITED (REGISTERED NUMBER: 01601453)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024


10. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
9,000 "A" Ordinary £1 9,000 9,000
3,500 "C" Original £1 3,500 3,500
3,500 "B" Original £1 3,500 3,500
16,000 16,000