Acorah Software Products - Accounts Production 15.0.600 false true true 31 December 2022 1 January 2022 false 12 September 2024 1 January 2023 31 December 2023 31 December 2023 06434882 Mr Kevin Porter Mr Jonathan Bennett Mr Samuel Wheatcroft Mr Laurie Mitchell Mr Murray Gates Mr Trevor James The Copsewood Education Trust true iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 06434882 2022-12-31 06434882 2023-12-31 06434882 2023-01-01 2023-12-31 06434882 frs-core:CurrentFinancialInstruments 2023-12-31 06434882 frs-core:FurnitureFittings 2023-12-31 06434882 frs-core:FurnitureFittings 2023-01-01 2023-12-31 06434882 frs-core:FurnitureFittings 2022-12-31 06434882 frs-core:MotorVehicles 2023-12-31 06434882 frs-core:MotorVehicles 2023-01-01 2023-12-31 06434882 frs-core:MotorVehicles 2022-12-31 06434882 frs-core:PlantMachinery 2023-12-31 06434882 frs-core:PlantMachinery 2023-01-01 2023-12-31 06434882 frs-core:PlantMachinery 2022-12-31 06434882 frs-core:ShareCapital 2023-12-31 06434882 frs-core:RetainedEarningsAccumulatedLosses 2023-12-31 06434882 frs-bus:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 06434882 frs-bus:FilletedAccounts 2023-01-01 2023-12-31 06434882 frs-bus:SmallEntities 2023-01-01 2023-12-31 06434882 frs-bus:Audited 2023-01-01 2023-12-31 06434882 frs-bus:SmallCompaniesRegimeForAccounts 2023-01-01 2023-12-31 06434882 1 2023-01-01 2023-12-31 06434882 frs-bus:Director1 2023-01-01 2023-12-31 06434882 frs-bus:Director2 2023-01-01 2023-12-31 06434882 frs-bus:Director3 2023-01-01 2023-12-31 06434882 frs-bus:Director4 2023-01-01 2023-12-31 06434882 frs-bus:Director5 2023-01-01 2023-12-31 06434882 frs-bus:Director6 2023-01-01 2023-12-31 06434882 frs-countries:EnglandWales 2023-01-01 2023-12-31 06434882 2021-12-31 06434882 2022-12-31 06434882 2022-01-01 2022-12-31 06434882 frs-core:CurrentFinancialInstruments 2022-12-31 06434882 frs-core:ShareCapital 2022-12-31 06434882 frs-core:RetainedEarningsAccumulatedLosses 2022-12-31
Registered number: 06434882
Factor 4 UK Limited
Financial Statements
For The Year Ended 31 December 2023
mca Banbury Ltd
4 - 6 The Wharf Centre
Wharf Street
Warwick
Warwickshire
CV34 5LB
Financial Statements
Contents
Page
Balance Sheet 1
Notes to the Financial Statements 2—4
Page 1
Balance Sheet
Registered number: 06434882
2023 2022
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 32,285 41,891
32,285 41,891
CURRENT ASSETS
Stocks 5 124,108 109,423
Debtors 6 71,810 49,626
Cash at bank and in hand 86,175 74,012
282,093 233,061
Creditors: Amounts Falling Due Within One Year 7 (154,550 ) (111,335 )
NET CURRENT ASSETS (LIABILITIES) 127,543 121,726
TOTAL ASSETS LESS CURRENT LIABILITIES 159,828 163,617
NET ASSETS 159,828 163,617
CAPITAL AND RESERVES
Called up share capital 8 2 2
Profit and Loss Account 159,826 163,615
SHAREHOLDERS' FUNDS 159,828 163,617
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 Kevin Porter
Director
22/08/2024
The notes on pages 2 to 4 form part of these financial statements.
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Page 2
Notes to the Financial Statements
1. General Information
Factor 4 UK Limited is a private company, limited by shares, incorporated in England & Wales, registered number 06434882 . The registered office is Welcome House Falkland Close, Charter Avenue Industrial Estate, Coventry, CV4 8AU.
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.
Factor 4 UK limited is a member of a public benefit group.
These financial statements are prepared in Sterling, which is the functional currency of the company. All the monetary amounts are rounded to the nearest £.
2.2. Going Concern Disclosure
The directors have not identified any material uncertainties related to events or conditions that may cast significant doubt about the company's ability to continue as a going concern.
2.3. Significant judgements and estimations
In the application of the company’s accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.
2.4. 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.
2.5. 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 3 & 4 yrs Straight Line
Motor Vehicles 25% Reducing balance
Fixtures & Fittings 25% Straight Line
2.6. 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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2.7. Financial Instruments
The company only enters into basic financial instruments that result in the recognition of financial assets and liabilities like trade and other accounts receivable and payable.
Basic financial assets and liabilities that are payable or receivable within one year, typically trade payables or receivables; are measured, initially and subsequently, at the undiscounted amount of cash or other consideration, expected to be paid or received.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 6 (2022: 6)
6 6
4. Tangible Assets
Plant & Machinery Motor Vehicles Fixtures & Fittings Total
£ £ £ £
Cost
As at 1 January 2023 9,029 6,950 95,529 111,508
Additions 9,976 - - 9,976
Transfers 102,479 (6,950 ) (95,529 ) -
As at 31 December 2023 121,484 - - 121,484
Depreciation
As at 1 January 2023 6,355 952 62,310 69,617
Provided during the period 19,582 - - 19,582
Transfers 63,262 (952 ) (62,310 ) -
As at 31 December 2023 89,199 - - 89,199
Net Book Value
As at 31 December 2023 32,285 - - 32,285
As at 1 January 2023 2,674 5,998 33,219 41,891
5. Stocks
2023 2022
£ £
Stock 124,108 109,423
6. Debtors
2023 2022
£ £
Due within one year
Trade debtors 68,970 47,631
Other debtors 2,840 1,995
71,810 49,626
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7. Creditors: Amounts Falling Due Within One Year
2023 2022
£ £
Trade creditors 67,354 81,389
Bank loans and overdrafts 37,500 -
Other creditors 36,722 22,498
Taxation and social security 12,974 7,448
154,550 111,335
8. Share Capital
2023 2022
£ £
Allotted, Called up and fully paid 2 2
9. Related Party Transactions
The company has taken advantage of the exemption available under FRS 102 section 33 'Related Party Disclosures' not to disclose details of its transactions with related parties. The exemption is available as the transactions are with other members of the group.
10. FRC's Ethical Standard - Provision Available for Small Entities
In common with other businesses of our size and nature we use our auditors to prepare and submit returns to the tax authorities and assist with the preparation of the financial statements.
11. Ultimate Controlling Party
The company's ultimate controlling party is The Copsewood Education Trust , a charity registered in England with charity number 01047219 and address Oneschool Global, Atherstone, Long Street, Atherstone, CV9 1AE.
12. Audit Information
The auditors report on the account of Factor 4 UK Limited for the year ended 31 December 2023 was unqualified
The auditor's report was signed by Martin Cox (Senior Statutory Auditor) for and on behalf of mca Banbury Ltd , Statutory Auditor
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