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 08253976 Eamon Hanley Craig Nicolson Imantas Garadauskas Nicholas Bryant Marks Kusneris Jennifer Hanley Eamon Hanley Vision 25, Electric Avenue, Innova Park, London, EN3 7GD true iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 08253976 2023-03-31 08253976 2024-03-31 08253976 2023-04-01 2024-03-31 08253976 frs-core:CurrentFinancialInstruments 2024-03-31 08253976 frs-core:Non-currentFinancialInstruments 2024-03-31 08253976 frs-core:BetweenOneFiveYears 2024-03-31 08253976 frs-core:ComputerEquipment 2024-03-31 08253976 frs-core:ComputerEquipment 2023-04-01 2024-03-31 08253976 frs-core:ComputerEquipment 2023-03-31 08253976 frs-core:MotorVehicles 2024-03-31 08253976 frs-core:MotorVehicles 2023-04-01 2024-03-31 08253976 frs-core:MotorVehicles 2023-03-31 08253976 frs-core:PlantMachinery 2024-03-31 08253976 frs-core:PlantMachinery 2023-04-01 2024-03-31 08253976 frs-core:PlantMachinery 2023-03-31 08253976 frs-core:WithinOneYear 2024-03-31 08253976 frs-core:ShareCapital 2024-03-31 08253976 frs-core:RetainedEarningsAccumulatedLosses 2024-03-31 08253976 frs-bus:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 08253976 frs-bus:FilletedAccounts 2023-04-01 2024-03-31 08253976 frs-bus:SmallEntities 2023-04-01 2024-03-31 08253976 frs-bus:AuditExemptWithAccountantsReport 2023-04-01 2024-03-31 08253976 frs-bus:SmallCompaniesRegimeForAccounts 2023-04-01 2024-03-31 08253976 1 2023-04-01 2024-03-31 08253976 frs-bus:Director1 2023-04-01 2024-03-31 08253976 frs-bus:Director1 2023-03-31 08253976 frs-bus:Director1 2024-03-31 08253976 frs-bus:Director2 2023-04-01 2024-03-31 08253976 frs-bus:Director3 2023-04-01 2024-03-31 08253976 frs-bus:Director4 2023-04-01 2024-03-31 08253976 frs-bus:Director5 2023-04-01 2024-03-31 08253976 frs-bus:CompanySecretary1 2023-04-01 2024-03-31 08253976 frs-countries:EnglandWales 2023-04-01 2024-03-31 08253976 2022-03-31 08253976 2023-03-31 08253976 2022-04-01 2023-03-31 08253976 frs-core:CurrentFinancialInstruments 2023-03-31 08253976 frs-core:Non-currentFinancialInstruments 2023-03-31 08253976 frs-core:BetweenOneFiveYears 2023-03-31 08253976 frs-core:WithinOneYear 2023-03-31 08253976 frs-core:ShareCapital 2023-03-31 08253976 frs-core:RetainedEarningsAccumulatedLosses 2023-03-31
Registered number: 08253976
Slipform Engineering Ltd
Unaudited Financial Statements
For The Year Ended 31 March 2024
FB Accountancy Services Limited
Chartered Certified Accountants
Unit 16, Heronsgate Trading Estate
Paycocke Road
Basildon
Essex
SS14 3EU
Unaudited Financial Statements
Contents
Page
Accountant's Report 1
Statement of Financial Position 2—3
Notes to the Financial Statements 4—7
Page 1
Accountant's Report
Report to the directors on the preparation of the unaudited statutory accounts of Slipform Engineering Ltd For The Year Ended 31 March 2024
To assist you to fulfil your duties under the Companies Act 2006, I have prepared for your approval the accounts of Slipform Engineering Ltd which comprise the Income Statement, the Statement of Financial Position and the related notes, from the company’s accounting records and from information and explanations you have given us.
As a practising member of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at http://www.accaglobal.com/en/member/professional-standards/rules-standards/acca-rulebook.html.
This report is made to the directors of Slipform Engineering Ltd , as a body, in accordance with the terms of our engagement letter dated 18 April 2023. Our work has been undertaken solely to prepare for your approval the accounts of Slipform Engineering Ltd and state those matters that we have agreed to state to the directors of Slipform Engineering Ltd , as a body, in this report in accordance with the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/content/dam/ACCA_Global/Technical/fact/technical-factsheet-163.pdf. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Slipform Engineering Ltd and its directors as a body for our work or for this report.
It is your duty to ensure that Slipform Engineering Ltd has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit or loss of Slipform Engineering Ltd . You consider that Slipform Engineering Ltd is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit or a review of the accounts of Slipform Engineering Ltd . For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the financial statements.
Signed
10/09/2024
FB Accountancy Services Limited
Chartered Certified Accountants
Unit 16, Heronsgate Trading Estate
Paycocke Road
Basildon
Essex
SS14 3EU
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Statement of Financial Position
Registered number: 08253976
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 3 1,068,555 667,342
1,068,555 667,342
CURRENT ASSETS
Stocks 4 72,500 25,355
Debtors 5 1,432,433 1,603,920
Cash at bank and in hand 158,460 295,444
1,663,393 1,924,719
Creditors: Amounts Falling Due Within One Year 6 (1,198,119 ) (939,243 )
NET CURRENT ASSETS (LIABILITIES) 465,274 985,476
TOTAL ASSETS LESS CURRENT LIABILITIES 1,533,829 1,652,818
Creditors: Amounts Falling Due After More Than One Year 7 (292,382 ) (400,000 )
PROVISIONS FOR LIABILITIES
Deferred Taxation (201,420 ) (109,108 )
NET ASSETS 1,040,027 1,143,710
CAPITAL AND RESERVES
Called up share capital 10 100 100
Income Statement 1,039,927 1,143,610
SHAREHOLDERS' FUNDS 1,040,027 1,143,710
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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 Income Statement.
On behalf of the board
Eamon Hanley
Director
09/09/2024
The notes on pages 4 to 7 form part of these financial statements.
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Notes to the Financial Statements
1. Accounting Policies
1.1. 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.
1.2. 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
The amount of profit attainable to the stage of completion of a contract is recognised on a prudent basis when the outcome can be foreseen with reasonable certainty. Provision is made for losses as soon as they are foreseen. The portion of profits recognised is discounted by a factor to recognise the uncertainties inherent until the contract achieves final completion.
The turnover for contracts reflects the value of work done, less any amounts recognised in previous years. Contract work in progress is stated as costs incurred, less those transferred to the profit and loss account, after deducting foreseeable losses and payments on account not matched with turnover. 
Amounts recoverable on contracts are included in debtors and represent turnover recognised in excess of payments on account.
1.3. 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 10% Straight Line
Motor Vehicles 25% Reducing Balance
Computer Equipment 50% Straight Line
1.4. 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 income statement 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 income statement as incurred.
1.5. 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.
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1.6. 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.
1.7. Pensions
The company operates a defined pension contribution scheme. Contributions are charged to the income statement as they become payable in accordance with the rules of the scheme.
2. Average Number of Employees
Average number of employees, including directors, during the year was as follows: 8 (2023: 2)
8 2
3. Tangible Assets
Plant & Machinery Motor Vehicles Computer Equipment Total
£ £ £ £
Cost
As at 1 April 2023 1,644,286 - 8,597 1,652,883
Additions 417,330 161,414 - 578,744
As at 31 March 2024 2,061,616 161,414 8,597 2,231,627
Depreciation
As at 1 April 2023 976,944 - 8,597 985,541
Provided during the period 150,629 26,902 - 177,531
As at 31 March 2024 1,127,573 26,902 8,597 1,163,072
Net Book Value
As at 31 March 2024 934,043 134,512 - 1,068,555
As at 1 April 2023 667,342 - - 667,342
4. Stocks
2024 2023
£ £
Stock 51,000 25,355
Work in progress 21,500 -
72,500 25,355
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5. Debtors
2024 2023
£ £
Due within one year
Trade debtors 223,785 176,381
Other debtors 917,971 440,642
Corporation tax recoverable assets 40,677 -
Amounts owed by group undertakings 250,000 874,575
1,432,433 1,491,598
Due after more than one year
Trade debtors - 112,322
- 112,322
1,432,433 1,603,920
6. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Net obligations under finance lease and hire purchase contracts 32,464 -
Trade creditors 495,417 286,434
Bank loans and overdrafts 200,000 200,000
Corporation tax 12 64,640
Other taxes and social security 107,103 40,316
Other creditors 363,123 347,853
1,198,119 939,243
7. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Net obligations under finance lease and hire purchase contracts 92,382 -
Bank loans 200,000 400,000
292,382 400,000
8. Secured Creditors
Of the creditors the following amounts are secured by way of fixed and floating charge over company assets.
2024 2023
£ £
Net obligations under finance lease and hire purchase contracts 124,846 -
Bank loans and overdrafts 400,000 600,000
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9. Obligations Under Finance Leases and Hire Purchase
2024 2023
£ £
The maturity of these amounts is as follows:
Within one year 32,464 -
Between one and five years 92,382 -
124,846 -
124,846 -
10. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 100 100
11. Other Commitments
The total of future minimum lease payments under non-cancellable operating leases are as following:
Land and buildings
2024 2023
£ £
Within 1 year 30,000 30,000
30,000 30,000
12. Directors Advances, Credits and Guarantees
Included within Debtors are the following loans to directors:
As at 1 April 2023 Amounts advanced Amounts repaid Amounts written off As at 31 March 2024
£ £ £ £ £
Mr Eamon Hanley - 85,358 - - 85,358
The above loan is unsecured, interest free and repayable on demand.
13. Ultimate Parent Undertaking and Controlling Party
The company's immediate and ultimate parent undertaking is Slipform Engineering Group Limited . Slipform Engineering Group Limited was incorporated in England & Wales. Vision 25, Electric Avenue, Innova Park, London, EN3 7GD The ultimate controlling party is Eamon Hanley who controls 100% of the shares of Slipform Engineering Ltd .
14. General Information
Slipform Engineering Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 08253976 . The registered office is Unit 16, Heronsgate Trading Estate, Paycocke Road, Basildon, Essex, SS14 3EU.
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