Acorah Software Products - Accounts Production 15.0.600 false true 30 September 2022 1 October 2021 false 1 October 2022 30 September 2023 30 September 2023 03252888 Mr Jack Riley Mr Keith Phipps Ms Sharon Jerrold iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 03252888 2022-09-30 03252888 2023-09-30 03252888 2022-10-01 2023-09-30 03252888 frs-core:CurrentFinancialInstruments 2023-09-30 03252888 frs-core:Non-currentFinancialInstruments 2023-09-30 03252888 frs-core:ComputerEquipment 2023-09-30 03252888 frs-core:ComputerEquipment 2022-10-01 2023-09-30 03252888 frs-core:ComputerEquipment 2022-09-30 03252888 frs-core:FurnitureFittings 2023-09-30 03252888 frs-core:FurnitureFittings 2022-10-01 2023-09-30 03252888 frs-core:FurnitureFittings 2022-09-30 03252888 frs-core:MotorVehicles 2023-09-30 03252888 frs-core:MotorVehicles 2022-10-01 2023-09-30 03252888 frs-core:MotorVehicles 2022-09-30 03252888 frs-core:ShareCapital 2023-09-30 03252888 frs-core:RetainedEarningsAccumulatedLosses 2023-09-30 03252888 frs-bus:PrivateLimitedCompanyLtd 2022-10-01 2023-09-30 03252888 frs-bus:FilletedAccounts 2022-10-01 2023-09-30 03252888 frs-bus:SmallEntities 2022-10-01 2023-09-30 03252888 frs-bus:AuditExempt-NoAccountantsReport 2022-10-01 2023-09-30 03252888 frs-bus:SmallCompaniesRegimeForAccounts 2022-10-01 2023-09-30 03252888 frs-bus:Director1 2022-10-01 2023-09-30 03252888 frs-bus:Director2 2022-10-01 2023-09-30 03252888 frs-bus:CompanySecretary1 2022-10-01 2023-09-30 03252888 frs-core:CurrentFinancialInstruments 3 2023-09-30 03252888 frs-countries:EnglandWales 2022-10-01 2023-09-30 03252888 2021-09-30 03252888 2022-09-30 03252888 2021-10-01 2022-09-30 03252888 frs-core:CurrentFinancialInstruments 2022-09-30 03252888 frs-core:Non-currentFinancialInstruments 2022-09-30 03252888 frs-core:ShareCapital 2022-09-30 03252888 frs-core:RetainedEarningsAccumulatedLosses 2022-09-30 03252888 frs-core:CurrentFinancialInstruments 3 2022-09-30
Registered number: 03252888
R&i Services (M&E) Limited
Unaudited Financial Statements
For The Year Ended 30 September 2023
MH Professionals Ltd
Unit 2 4-5 Market Place
Bexleyheath
Kent
Kent
DA6 7DU
Contents
Page
Statement of Financial Position 1—2
Notes to the Financial Statements 3—5
Page 1
Statement of Financial Position
Registered number: 03252888
2023 2022
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 34,429 45,912
34,429 45,912
CURRENT ASSETS
Stocks 5 517,512 431,981
Debtors 6 214,841 245,987
Cash at bank and in hand 60 64
732,413 678,032
Creditors: Amounts Falling Due Within One Year 7 (1,004,669 ) (953,307 )
NET CURRENT ASSETS (LIABILITIES) (272,256 ) (275,275 )
TOTAL ASSETS LESS CURRENT LIABILITIES (237,827 ) (229,363 )
Creditors: Amounts Falling Due After More Than One Year 8 (28,289 ) (37,337 )
PROVISIONS FOR LIABILITIES
Deferred Taxation (6,545 ) (9,341 )
NET LIABILITIES (272,661 ) (276,041 )
CAPITAL AND RESERVES
Called up share capital 9 2,000 2,000
Income Statement (274,661 ) (278,041 )
SHAREHOLDERS' FUNDS (272,661) (276,041)
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Page 2
For the year ending 30 September 2023 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
Mr Keith Phipps
Director
31st July 2024
The notes on pages 3 to 5 form part of these financial statements.
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Notes to the Financial Statements
1. General Information
R&i Services (M&E) Limited is a private company, limited by shares, incorporated in England & Wales, registered number 03252888 . The registered office is 278 Philip Lane, Tottenham, London, N15 4AD.
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:
Motor Vehicles 25% on reducing balance method
Fixtures & Fittings 25% on reducing balance method
Computer Equipment 25% on reducing balance method
2.4. 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.
2.5. 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.
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3. Average Number of Employees
Average number of employees, including directors, during the year was: 22 (2022: 22)
22 22
4. Tangible Assets
Motor Vehicles Fixtures & Fittings Computer Equipment Total
£ £ £ £
Cost
As at 1 October 2022 82,217 12,465 19,885 114,567
As at 30 September 2023 82,217 12,465 19,885 114,567
Depreciation
As at 1 October 2022 43,430 10,518 14,707 68,655
Provided during the period 9,697 487 1,299 11,483
As at 30 September 2023 53,127 11,005 16,006 80,138
Net Book Value
As at 30 September 2023 29,090 1,460 3,879 34,429
As at 1 October 2022 38,787 1,947 5,178 45,912
5. Stocks
2023 2022
£ £
Materials 51,689 39,050
Work in progress 465,823 392,931
517,512 431,981
6. Debtors
2023 2022
£ £
Due within one year
Trade debtors 214,841 239,307
Net wages - 6,680
214,841 245,987
7. Creditors: Amounts Falling Due Within One Year
2023 2022
£ £
Trade creditors 149,801 336,372
Bank loans and overdrafts 161,778 246,806
Corporation tax 20,835 20,835
Other taxes and social security 294,306 254,526
VAT 162,950 65,924
Pension 1,642 3,237
Accruals and deferred income - 7,250
Directors' loan accounts 213,357 18,357
1,004,669 953,307
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8. Creditors: Amounts Falling Due After More Than One Year
2023 2022
£ £
Bank loans 28,289 37,337
9. Share Capital
2023 2022
£ £
Allotted, Called up and fully paid 2,000 2,000
10. Loan from the director
Keith Phipps has provided a long term loan to the company. The balance of the loan as at the year end date is £213,357.
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