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 05794303 Mr Michael McDermott Karen McDermott iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 05794303 2023-05-31 05794303 2024-05-31 05794303 2023-06-01 2024-05-31 05794303 frs-core:CurrentFinancialInstruments 2024-05-31 05794303 frs-core:FurnitureFittings 2024-05-31 05794303 frs-core:FurnitureFittings 2023-06-01 2024-05-31 05794303 frs-core:FurnitureFittings 2023-05-31 05794303 frs-core:NetGoodwill 2024-05-31 05794303 frs-core:NetGoodwill 2023-06-01 2024-05-31 05794303 frs-core:NetGoodwill 2023-05-31 05794303 frs-core:MotorVehicles 2024-05-31 05794303 frs-core:MotorVehicles 2023-06-01 2024-05-31 05794303 frs-core:MotorVehicles 2023-05-31 05794303 frs-core:ShareCapital 2024-05-31 05794303 frs-core:RetainedEarningsAccumulatedLosses 2024-05-31 05794303 frs-bus:PrivateLimitedCompanyLtd 2023-06-01 2024-05-31 05794303 frs-bus:FilletedAccounts 2023-06-01 2024-05-31 05794303 frs-bus:SmallEntities 2023-06-01 2024-05-31 05794303 frs-bus:AuditExempt-NoAccountantsReport 2023-06-01 2024-05-31 05794303 frs-bus:SmallCompaniesRegimeForAccounts 2023-06-01 2024-05-31 05794303 frs-bus:Director1 2023-06-01 2024-05-31 05794303 frs-bus:CompanySecretary1 2023-06-01 2024-05-31 05794303 frs-countries:EnglandWales 2023-06-01 2024-05-31 05794303 2022-05-31 05794303 2023-05-31 05794303 2022-06-01 2023-05-31 05794303 frs-core:CurrentFinancialInstruments 2023-05-31 05794303 frs-core:ShareCapital 2023-05-31 05794303 frs-core:RetainedEarningsAccumulatedLosses 2023-05-31
Registered number: 05794303
Owen Eyre Pallets Limited
Unaudited Financial Statements
For The Year Ended 31 May 2024
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 05794303
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 5 3,078 9,515
3,078 9,515
CURRENT ASSETS
Stocks 6 6,150 6,150
Debtors 7 62,006 54,801
Cash at bank and in hand 319,654 297,933
387,810 358,884
Creditors: Amounts Falling Due Within One Year 8 (44,058 ) (57,929 )
NET CURRENT ASSETS (LIABILITIES) 343,752 300,955
TOTAL ASSETS LESS CURRENT LIABILITIES 346,830 310,470
PROVISIONS FOR LIABILITIES
Deferred Taxation (769 ) (1,808 )
NET ASSETS 346,061 308,662
CAPITAL AND RESERVES
Called up share capital 100 100
Profit and Loss Account 345,961 308,562
SHAREHOLDERS' FUNDS 346,061 308,662
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 Michael McDermott
Director
29 August 2024
The notes on pages 3 to 5 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Owen Eyre Pallets Limited is a private company, limited by shares, incorporated in England & Wales, registered number 05794303 . The registered office is 7 Christie Way, Christie Fields, Manchester, M21 7QY.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements are prepared under the historical cost convention and in accordance with the FRS 102 Section 1A Small Entities - The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.

The financial statements are prepared in sterling, which is the functional currency of the entity
2.2. Turnover
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and value added tax.

Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
2.3. Intangible Fixed Assets and Amortisation - Goodwill
Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over
the useful life of that asset as follows:

Goodwill - 10% straight line

If there is an indication that there has been a significant change in amortisation rate, useful life or
residual value of an intangible asset, the amortisation is revised prospectively to reflect the new
estimates.
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:
Motor Vehicles 20% reducing balance
Fixtures & Fittings 10% reducing balance
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. 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.
...CONTINUED
Page 3
Page 4
2.6. Taxation - continued
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.
2.7. 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.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 5 (2023: 5)
5 5
4. Intangible Assets
Goodwill
£
Cost
As at 1 June 2023 50,000
As at 31 May 2024 50,000
Amortisation
As at 1 June 2023 50,000
As at 31 May 2024 50,000
Net Book Value
As at 31 May 2024 -
As at 1 June 2023 -
5. Tangible Assets
Motor Vehicles Fixtures & Fittings Total
£ £ £
Cost
As at 1 June 2023 15,069 4,136 19,205
Additions - 811 811
Disposals (13,710 ) - (13,710 )
As at 31 May 2024 1,359 4,947 6,306
Depreciation
As at 1 June 2023 7,054 2,636 9,690
Provided during the period 240 193 433
Disposals (6,895 ) - (6,895 )
As at 31 May 2024 399 2,829 3,228
Net Book Value
As at 31 May 2024 960 2,118 3,078
As at 1 June 2023 8,015 1,500 9,515
Page 4
Page 5
6. Stocks
2024 2023
£ £
Finished goods 6,150 6,150
7. Debtors
2024 2023
£ £
Due within one year
Trade debtors 54,452 52,803
Prepayments and accrued income 7,554 1,998
62,006 54,801
8. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Other creditors 8,685 8,028
Taxation and social security 35,373 49,901
44,058 57,929
Page 5