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 04151586 Mrs T Prior Mr A T Prior Mr D A Prior Mrs T Prior iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 04151586 2023-03-31 04151586 2024-03-31 04151586 2023-04-01 2024-03-31 04151586 frs-core:CurrentFinancialInstruments 2024-03-31 04151586 frs-core:Non-currentFinancialInstruments 2024-03-31 04151586 frs-core:BetweenOneFiveYears 2024-03-31 04151586 frs-core:ComputerEquipment 2024-03-31 04151586 frs-core:ComputerEquipment 2023-04-01 2024-03-31 04151586 frs-core:ComputerEquipment 2023-03-31 04151586 frs-core:FurnitureFittings 2024-03-31 04151586 frs-core:FurnitureFittings 2023-04-01 2024-03-31 04151586 frs-core:FurnitureFittings 2023-03-31 04151586 frs-core:NetGoodwill 2024-03-31 04151586 frs-core:NetGoodwill 2023-04-01 2024-03-31 04151586 frs-core:NetGoodwill 2023-03-31 04151586 frs-core:MotorVehicles 2024-03-31 04151586 frs-core:MotorVehicles 2023-04-01 2024-03-31 04151586 frs-core:MotorVehicles 2023-03-31 04151586 frs-core:PlantMachinery 2024-03-31 04151586 frs-core:PlantMachinery 2023-04-01 2024-03-31 04151586 frs-core:PlantMachinery 2023-03-31 04151586 frs-core:WithinOneYear 2024-03-31 04151586 frs-core:ShareCapital 2024-03-31 04151586 frs-core:RetainedEarningsAccumulatedLosses 2024-03-31 04151586 frs-bus:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 04151586 frs-bus:FilletedAccounts 2023-04-01 2024-03-31 04151586 frs-bus:SmallEntities 2023-04-01 2024-03-31 04151586 frs-bus:AuditExempt-NoAccountantsReport 2023-04-01 2024-03-31 04151586 frs-bus:SmallCompaniesRegimeForAccounts 2023-04-01 2024-03-31 04151586 frs-bus:Director1 2023-04-01 2024-03-31 04151586 frs-bus:Director2 2023-04-01 2024-03-31 04151586 frs-bus:Director3 2023-04-01 2024-03-31 04151586 frs-bus:CompanySecretary1 2023-04-01 2024-03-31 04151586 frs-countries:EnglandWales 2023-04-01 2024-03-31 04151586 2022-03-31 04151586 2023-03-31 04151586 2022-04-01 2023-03-31 04151586 frs-core:CurrentFinancialInstruments 2023-03-31 04151586 frs-core:Non-currentFinancialInstruments 2023-03-31 04151586 frs-core:BetweenOneFiveYears 2023-03-31 04151586 frs-core:WithinOneYear 2023-03-31 04151586 frs-core:ShareCapital 2023-03-31 04151586 frs-core:RetainedEarningsAccumulatedLosses 2023-03-31
Registered number: 04151586
Priority Management Services Limited
Unaudited Financial Statements
For The Year Ended 31 March 2024
CKS Accountancy Limited
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 04151586
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 5 36,933 16,572
36,933 16,572
CURRENT ASSETS
Debtors 6 18,858 31,708
Cash at bank and in hand 602,079 581,701
620,937 613,409
Creditors: Amounts Falling Due Within One Year 7 (559,683 ) (554,945 )
NET CURRENT ASSETS (LIABILITIES) 61,254 58,464
TOTAL ASSETS LESS CURRENT LIABILITIES 98,187 75,036
Creditors: Amounts Falling Due After More Than One Year 8 (28,110 ) -
PROVISIONS FOR LIABILITIES
Deferred Taxation (5,151 ) (997 )
NET ASSETS 64,926 74,039
CAPITAL AND RESERVES
Called up share capital 10 1,000 1,000
Profit and Loss Account 63,926 73,039
SHAREHOLDERS' FUNDS 64,926 74,039
Page 1
Page 2
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 A T Prior
Director
30/08/2024
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
Priority Management Services Limited is a private company, limited by shares, incorporated in England & Wales, registered number 04151586 . The registered office is 60 The Ridgeway, Westcliff on Sea, Essex, SS0 8NU.
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:
Plant & Machinery 20%RB
Motor Vehicles 20% RB
Fixtures & Fittings 10% SL
Computer Equipment 25% SL
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.
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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.
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
4Average number of employees, including directors, during the year was: 4 (2023: 4)
4 4
4. Intangible Assets
Goodwill
£
Cost
As at 1 April 2023 100,000
As at 31 March 2024 100,000
Amortisation
As at 1 April 2023 100,000
As at 31 March 2024 100,000
Net Book Value
As at 31 March 2024 -
As at 1 April 2023 -
5. Tangible Assets
Plant & Machinery Motor Vehicles Fixtures & Fittings Computer Equipment Total
£ £ £ £ £
Cost
As at 1 April 2023 - 34,296 8,214 10,532 53,042
Additions - 43,915 367 534 44,816
Disposals - (34,296 ) - - (34,296 )
As at 31 March 2024 - 43,915 8,581 11,066 63,562
...CONTINUED
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Page 5
Depreciation
As at 1 April 2023 - 20,248 7,606 8,616 36,470
Provided during the period - 8,783 292 1,332 10,407
Disposals - (20,248 ) - - (20,248 )
As at 31 March 2024 - 8,783 7,898 9,948 26,629
Net Book Value
As at 31 March 2024 - 35,132 683 1,118 36,933
As at 1 April 2023 - 14,048 608 1,916 16,572
6. Debtors
2024 2023
£ £
Due within one year
Trade debtors 12,054 25,859
Other debtors 6,804 5,849
18,858 31,708
7. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Net obligations under finance lease and hire purchase contracts 2,555 -
Trade creditors 3,815 551
Other creditors 500,297 507,419
Taxation and social security 53,016 46,975
559,683 554,945
8. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Net obligations under finance lease and hire purchase contracts 28,110 -
9. Obligations Under Finance Leases and Hire Purchase
2024 2023
£ £
The future minimum finance lease payments are as follows:
Not later than one year 2,555 -
Later than one year and not later than five years 28,110 -
30,665 -
30,665 -
10. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 1,000 1,000
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