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 3608206 Mrs Sharon Cox Mr Michael Garratt Mr Christopher Rowland Mr Michael Hatfield Mr Christopher Wright iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 3608206 2023-03-31 3608206 2024-03-31 3608206 2023-04-01 2024-03-31 3608206 frs-core:CurrentFinancialInstruments 2024-03-31 3608206 frs-core:FurnitureFittings 2023-04-01 2024-03-31 3608206 frs-core:PlantMachinery 2024-03-31 3608206 frs-core:PlantMachinery 2023-04-01 2024-03-31 3608206 frs-core:PlantMachinery 2023-03-31 3608206 frs-core:CapitalRedemptionReserve 2024-03-31 3608206 frs-core:SharePremium 2024-03-31 3608206 frs-core:ShareCapital 2024-03-31 3608206 frs-core:RetainedEarningsAccumulatedLosses 2024-03-31 3608206 frs-bus:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 3608206 frs-bus:FilletedAccounts 2023-04-01 2024-03-31 3608206 frs-bus:SmallEntities 2023-04-01 2024-03-31 3608206 frs-bus:AuditExempt-NoAccountantsReport 2023-04-01 2024-03-31 3608206 frs-bus:SmallCompaniesRegimeForAccounts 2023-04-01 2024-03-31 3608206 frs-bus:OrdinaryShareClass1 2023-04-01 2024-03-31 3608206 frs-bus:OrdinaryShareClass1 2024-03-31 3608206 frs-core:AcceleratedTaxDepreciationDeferredTax 2024-03-31 3608206 frs-bus:Director1 2023-04-01 2024-03-31 3608206 frs-bus:Director2 2023-04-01 2024-03-31 3608206 frs-bus:Director3 2023-04-01 2024-03-31 3608206 frs-bus:Director4 2023-04-01 2024-03-31 3608206 frs-bus:Director5 2023-04-01 2024-03-31 3608206 frs-countries:EnglandWales 2023-04-01 2024-03-31 3608206 2022-03-31 3608206 2023-03-31 3608206 2022-04-01 2023-03-31 3608206 frs-core:CurrentFinancialInstruments 2023-03-31 3608206 frs-core:CapitalRedemptionReserve 2023-03-31 3608206 frs-core:SharePremium 2023-03-31 3608206 frs-core:ShareCapital 2023-03-31 3608206 frs-core:RetainedEarningsAccumulatedLosses 2023-03-31 3608206 frs-bus:OrdinaryShareClass1 2022-04-01 2023-03-31 3608206 frs-core:AcceleratedTaxDepreciationDeferredTax 2023-03-31
Registered number: 3608206
MDS Transmodal Limited
Unaudited Financial Statements
For The Year Ended 31 March 2024
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 3608206
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 8,876 3,750
8,876 3,750
CURRENT ASSETS
Debtors 5 536,027 336,463
Cash at bank and in hand 670,900 839,954
1,206,927 1,176,417
Creditors: Amounts Falling Due Within One Year 6 (132,167 ) (108,157 )
NET CURRENT ASSETS (LIABILITIES) 1,074,760 1,068,260
TOTAL ASSETS LESS CURRENT LIABILITIES 1,083,636 1,072,010
PROVISIONS FOR LIABILITIES
Deferred Taxation 7 (1,826 ) (365 )
NET ASSETS 1,081,810 1,071,645
CAPITAL AND RESERVES
Called up share capital 8 1,422 1,404
Share premium account 96,316 92,734
Capital redemption reserve 477 477
Profit and Loss Account 983,595 977,030
SHAREHOLDERS' FUNDS 1,081,810 1,071,645
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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
Mrs Sharon Cox
Director
19/06/2024
The notes on pages 3 to 5 form part of these financial statements.
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Notes to the Financial Statements
1. General Information
MDS Transmodal Limited Registered number 3608206 is a limited by shares company incorporated in England & Wales. The Registered Office is 5-6 Hunters Walk, Canal Street, Chester, CH1 4EB.
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.
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.
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. Tangible Fixed Assets and Depreciation
Tangible fixed assets are stated at cost less depreciation. 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 cost
Fixtures & Fittings 20% on cost
2.4. 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 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.
2.5. 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.
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2.6. Government Grant
Government grants are recognised in the profit and loss account 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 profit and loss account. Grants towards general activities of the entity over a specific period are recognised in the profit and loss account 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 profit and loss account over the useful life of the asset concerned.
All grants in the profit and loss account are recognised when all conditions for receipt have been complied with.
2.7. Registrar Filing Requirements
The company has taken advantage of Companies Act 2006 section 444(1) and opted not to file the profit and loss account, directors report, and notes to the financial statements relating to the profit and loss account.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 13 (2023: 13)
13 13
4. Tangible Assets
Plant & Machinery etc.
£
Cost
As at 1 April 2023 195,929
Additions 8,506
As at 31 March 2024 204,435
Depreciation
As at 1 April 2023 192,179
Provided during the period 3,380
As at 31 March 2024 195,559
Net Book Value
As at 31 March 2024 8,876
As at 1 April 2023 3,750
5. Debtors
2024 2023
£ £
Due within one year
Trade debtors 529,255 320,715
Other debtors 6,772 6,163
Corporation tax recoverable - 9,585
536,027 336,463
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6. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 5,478 6,010
Corporation tax 6,835 2,620
VAT 58,543 40,433
Accruals and deferred income 61,311 59,094
132,167 108,157
7. Deferred Taxation
The provision for deferred tax is made up as follows:
2024 2023
£ £
Accelerated capital allowances 1,826 365
8. Share Capital
2024 2023
Allotted, called up and fully paid £ £
1,422 Ordinary Shares of £ 1 each 1,422 1,404
Shares issued during the period: £
18 Ordinary Shares of £ 1 each 18
On 27 March 2024 the company issued 18 £1.00 Ordinary shares at a premium of £199 per share.
9. Related Party Transactions
Two of the directors of the company, Mrs Sharon Cox and Mr Michael Garratt, are partners in CFG Partnership. During the year the company paid rent of £35,004 (2023: £35,004) to CFG Partnership.
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