Acorah Software Products - Accounts Production 15.0.600 false true 28 February 2023 1 March 2022 false 1 March 2023 29 February 2024 29 February 2024 NI623138 Mr Neil Mc Leese Mrs Helen Hardy iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure NI623138 2023-02-28 NI623138 2024-02-29 NI623138 2023-03-01 2024-02-29 NI623138 frs-core:CurrentFinancialInstruments 2024-02-29 NI623138 frs-core:Non-currentFinancialInstruments 2024-02-29 NI623138 frs-core:ComputerEquipment 2024-02-29 NI623138 frs-core:ComputerEquipment 2023-03-01 2024-02-29 NI623138 frs-core:ComputerEquipment 2023-02-28 NI623138 frs-core:FurnitureFittings 2024-02-29 NI623138 frs-core:FurnitureFittings 2023-03-01 2024-02-29 NI623138 frs-core:FurnitureFittings 2023-02-28 NI623138 frs-core:NetGoodwill 2024-02-29 NI623138 frs-core:NetGoodwill 2023-03-01 2024-02-29 NI623138 frs-core:NetGoodwill 2023-02-28 NI623138 frs-core:MotorVehicles 2024-02-29 NI623138 frs-core:MotorVehicles 2023-03-01 2024-02-29 NI623138 frs-core:MotorVehicles 2023-02-28 NI623138 frs-core:ShareCapital 2024-02-29 NI623138 frs-core:RetainedEarningsAccumulatedLosses 2024-02-29 NI623138 frs-bus:PrivateLimitedCompanyLtd 2023-03-01 2024-02-29 NI623138 frs-bus:FilletedAccounts 2023-03-01 2024-02-29 NI623138 frs-bus:SmallEntities 2023-03-01 2024-02-29 NI623138 frs-bus:AuditExempt-NoAccountantsReport 2023-03-01 2024-02-29 NI623138 frs-bus:SmallCompaniesRegimeForAccounts 2023-03-01 2024-02-29 NI623138 frs-bus:Director1 2023-03-01 2024-02-29 NI623138 frs-bus:Director2 2023-03-01 2024-02-29 NI623138 frs-core:CurrentFinancialInstruments 1 2024-02-29 NI623138 frs-core:CurrentFinancialInstruments 2 2024-02-29 NI623138 frs-countries:NorthernIreland 2023-03-01 2024-02-29 NI623138 2022-02-28 NI623138 2023-02-28 NI623138 2022-03-01 2023-02-28 NI623138 frs-core:CurrentFinancialInstruments 2023-02-28 NI623138 frs-core:Non-currentFinancialInstruments 2023-02-28 NI623138 frs-core:ShareCapital 2023-02-28 NI623138 frs-core:RetainedEarningsAccumulatedLosses 2023-02-28 NI623138 frs-core:CurrentFinancialInstruments 1 2023-02-28 NI623138 frs-core:CurrentFinancialInstruments 2 2023-02-28
Registered number: NI623138
Personnel & Training Services Ltd
Unaudited Financial Statements
For The Year Ended 29 February 2024
TaxAssist Ballymena
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: NI623138
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 5 12,604 9,474
12,604 9,474
CURRENT ASSETS
Debtors 6 39,025 35,708
Cash at bank and in hand 172,526 245,780
211,551 281,488
Creditors: Amounts Falling Due Within One Year 7 (181,397 ) (203,365 )
NET CURRENT ASSETS (LIABILITIES) 30,154 78,123
TOTAL ASSETS LESS CURRENT LIABILITIES 42,758 87,597
Creditors: Amounts Falling Due After More Than One Year 8 - (4,931 )
NET ASSETS 42,758 82,666
CAPITAL AND RESERVES
Called up share capital 9 100 100
Profit and Loss Account 42,658 82,566
SHAREHOLDERS' FUNDS 42,758 82,666
Page 1
Page 2
For the year ending 29 February 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 Helen Hardy
Director
23 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
Personnel & Training Services Ltd is a private company, limited by shares, incorporated in Northern Ireland, registered number NI623138 . The registered office is 22-24 Henry Street, Ballymena, BT42 3AH.
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 profit and loss account over its estimated economic life of .... 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:
Motor Vehicles 33% Straight Line
Fixtures & Fittings 25% straight Line
Computer Equipment 25% Straight Line
2.5. Foreign Currencies
Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet 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.
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
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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.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 15 (2023: 15)
15 15
4. Intangible Assets
Goodwill
£
Cost
As at 1 March 2023 348,000
As at 29 February 2024 348,000
Amortisation
As at 1 March 2023 348,000
As at 29 February 2024 348,000
Net Book Value
As at 29 February 2024 -
As at 1 March 2023 -
5. Tangible Assets
Motor Vehicles Fixtures & Fittings Computer Equipment Total
£ £ £ £
Cost
As at 1 March 2023 - 10,953 31,909 42,862
Additions 8,917 790 5,113 14,820
As at 29 February 2024 8,917 11,743 37,022 57,682
Depreciation
As at 1 March 2023 - 9,564 23,824 33,388
Provided during the period 2,972 568 8,150 11,690
As at 29 February 2024 2,972 10,132 31,974 45,078
Net Book Value
As at 29 February 2024 5,945 1,611 5,048 12,604
As at 1 March 2023 - 1,389 8,085 9,474
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6. Debtors
2024 2023
£ £
Due within one year
Trade debtors 38,550 35,708
VAT 475 -
39,025 35,708
7. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 19,124 13,763
Bank loans and overdrafts 20,730 31,386
Corporation tax 68,850 49,219
VAT Suspense 47,896 38,125
Payroll Pension Liabilities 20,234 9,123
Directors' loan accounts 1,010 61,010
Credit Card Balance 2,975 739
Payments on account 578 -
181,397 203,365
8. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Bank loans - 4,931
9. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 100 100
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