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Registered number: 3173853
Acors Press Limited
Unaudited Financial Statements
For The Year Ended 31 March 2024
E. H. Taylors
203 London Road
Hadleigh
Benfleet
Essex
SS7 2RD
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 3173853
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 503,170 503,896
503,170 503,896
CURRENT ASSETS
Cash at bank and in hand 61,004 52,089
61,004 52,089
Creditors: Amounts Falling Due Within One Year 5 (9,968 ) (9,649 )
NET CURRENT ASSETS (LIABILITIES) 51,036 42,440
TOTAL ASSETS LESS CURRENT LIABILITIES 554,206 546,336
PROVISIONS FOR LIABILITIES
Deferred Taxation 6 (62,646 ) (60,877 )
NET ASSETS 491,560 485,459
CAPITAL AND RESERVES
Called up share capital 7 1,000 1,000
Revaluation reserve 8 271,976 126,615
Profit and Loss Account 218,584 357,844
SHAREHOLDERS' FUNDS 491,560 485,459
Page 1
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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
Mr Malcolm Acors
Director
23rd 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
Acors Press Limited is a private company, limited by shares, incorporated in England & Wales, registered number 3173853 . The registered office is 203 London Road, Hadleigh, Benfleet, Essex, SS7 2RD.
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. 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:
Freehold not depreciated
Plant & Machinery 20% straight line
Fixtures & Fittings 20% straight line
Computer Equipment 20% straight line
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 assets 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.
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3. Average Number of Employees
Average number of employees, including directors, during the year was: 2 (2023: 2)
2 2
4. Tangible Assets
Land & Property
Freehold Plant & Machinery Fixtures & Fittings Computer Equipment Total
£ £ £ £ £
Cost or Valuation
As at 1 April 2023 500,000 69,481 74,489 214,292 858,262
Additions - - - 310 310
As at 31 March 2024 500,000 69,481 74,489 214,602 858,572
Depreciation
As at 1 April 2023 - 69,480 74,489 210,397 354,366
Provided during the period - - - 1,036 1,036
As at 31 March 2024 - 69,480 74,489 211,433 355,402
Net Book Value
As at 31 March 2024 500,000 1 - 3,169 503,170
As at 1 April 2023 500,000 1 - 3,895 503,896
5. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Other taxes and social security 433 -
Other creditors 6,352 6,250
Accruals and deferred income 2,589 2,464
Directors' loan accounts 312 -
Amounts owed to group undertakings 282 935
9,968 9,649
6. Deferred Taxation
The provision for deferred tax is made up as follows:
2024 2023
£ £
Other timing differences 62,646 60,877
7. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 1,000 1,000
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Page 5
8. Reserves
Revaluation Reserve
£
As at 1 April 2023 126,615
Transfer to profit and loss 145,361
As at 31 March 2024 271,976
Page 5