Acorah Software Products - Accounts Production 15.0.600 false true 31 December 2022 1 January 2022 false 1 January 2023 31 December 2023 31 December 2023 NI007625 Mr George Robert Walker Mr John Karl George Walker Miss Claire Angela Mary Walker Mr Andrew W R Walker George R Walker Discretionary Settlement Trust true iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure NI007625 2022-12-31 NI007625 2023-12-31 NI007625 2023-01-01 2023-12-31 NI007625 frs-core:CurrentFinancialInstruments 2023-12-31 NI007625 frs-core:FurnitureFittings 2023-12-31 NI007625 frs-core:FurnitureFittings 2023-01-01 2023-12-31 NI007625 frs-core:FurnitureFittings 2022-12-31 NI007625 frs-core:MotorVehicles 2023-12-31 NI007625 frs-core:MotorVehicles 2023-01-01 2023-12-31 NI007625 frs-core:MotorVehicles 2022-12-31 NI007625 frs-core:PlantMachinery 2023-12-31 NI007625 frs-core:PlantMachinery 2023-01-01 2023-12-31 NI007625 frs-core:PlantMachinery 2022-12-31 NI007625 frs-core:RevaluationReserve 2023-01-01 2023-12-31 NI007625 frs-core:RevaluationReserve 2022-12-31 NI007625 frs-core:RevaluationReserve 2023-12-31 NI007625 frs-core:ShareCapital 2023-12-31 NI007625 frs-core:RetainedEarningsAccumulatedLosses 2023-12-31 NI007625 frs-bus:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 NI007625 frs-bus:FilletedAccounts 2023-01-01 2023-12-31 NI007625 frs-bus:SmallEntities 2023-01-01 2023-12-31 NI007625 frs-bus:AuditExempt-NoAccountantsReport 2023-01-01 2023-12-31 NI007625 frs-bus:SmallCompaniesRegimeForAccounts 2023-01-01 2023-12-31 NI007625 1 2023-01-01 2023-12-31 NI007625 frs-bus:Director1 2023-01-01 2023-12-31 NI007625 frs-bus:Director2 2023-01-01 2023-12-31 NI007625 frs-bus:Director3 2023-01-01 2023-12-31 NI007625 frs-bus:CompanySecretary1 2023-01-01 2023-12-31 NI007625 frs-countries:NorthernIreland 2023-01-01 2023-12-31 NI007625 2021-12-31 NI007625 2022-12-31 NI007625 2022-01-01 2022-12-31 NI007625 frs-core:CurrentFinancialInstruments 2022-12-31 NI007625 frs-core:RevaluationReserve 2022-12-31 NI007625 frs-core:ShareCapital 2022-12-31 NI007625 frs-core:RetainedEarningsAccumulatedLosses 2022-12-31
Registered number: NI007625
Allied Equipment Limited
Unaudited Financial Statements
For The Year Ended 31 December 2023
McCleary & Company Ltd.
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: NI007625
2023 2022
Notes £ £ £ £
FIXED ASSETS
Investment Properties 5 1,746,097 1,615,489
1,746,097 1,615,489
CURRENT ASSETS
Stocks 6 12,660 13,069
Debtors 7 98,676 69,491
Cash at bank and in hand 101,318 61,255
212,654 143,815
Creditors: Amounts Falling Due Within One Year 8 (894,569 ) (859,569 )
NET CURRENT ASSETS (LIABILITIES) (681,915 ) (715,754 )
TOTAL ASSETS LESS CURRENT LIABILITIES 1,064,182 899,735
PROVISIONS FOR LIABILITIES
Deferred Taxation (125,013 ) (111,851 )
NET ASSETS 939,169 787,884
CAPITAL AND RESERVES
Called up share capital 9 100 100
Revaluation reserve 10 376,160 363,728
Profit and Loss Account 562,909 424,056
SHAREHOLDERS' FUNDS 939,169 787,884
Page 1
Page 2
For the year ending 31 December 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 Profit and Loss Account.
On behalf of the board
Mr George Robert Walker
Director
13 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
Allied Equipment Limited is a private company, limited by shares, incorporated in Northern Ireland, registered number NI007625 . The registered office is 7 - 15 Enterprise Crescent, Lisburn, BT28 2BP.
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:
Plant & Machinery 15% on cost
Motor Vehicles 25% on cost
Fixtures & Fittings 25% on cost
2.4. Investment Properties
All investment properties are carried at fair value determined annually and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided for. Changes in fair value are recognised in the profit and loss account.
2.5. 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.
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.
...CONTINUED
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2.6. Taxation - continued
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
Average number of employees, including directors, during the year was: 2 (2022: 2)
2 2
4. Tangible Assets
Plant & Machinery Motor Vehicles Fixtures & Fittings Total
£ £ £ £
Cost or Valuation
As at 1 January 2023 83,161 20,796 18,807 122,764
As at 31 December 2023 83,161 20,796 18,807 122,764
Depreciation
As at 1 January 2023 83,161 20,796 18,807 122,764
As at 31 December 2023 83,161 20,796 18,807 122,764
Net Book Value
As at 31 December 2023 - - - -
As at 1 January 2023 - - - -
5. Investment Property
2023
£
Fair Value
As at 1 January 2023 1,615,489
Additions 78,108
Revaluations 52,500
As at 31 December 2023 1,746,097
If investment property had been accounted for under historical cost accounting rules, the amounts would be:
2023 2022
£ £
Cost 1,244,226 1,166,443
6. Stocks
2023 2022
£ £
Stock 12,660 13,069
Page 4
Page 5
7. Debtors
2023 2022
£ £
Due within one year
Trade debtors 98,676 69,491
8. Creditors: Amounts Falling Due Within One Year
2023 2022
£ £
Trade creditors 12,646 20,479
Amounts owed to group undertakings 824,209 794,613
Other creditors 2,774 2,745
Taxation and social security 54,940 41,732
894,569 859,569
9. Share Capital
2023 2022
£ £
Allotted, Called up and fully paid 100 100
10. Reserves
Revaluation Reserve
£
As at 1 January 2023 363,728
Transfer to profit and loss 12,432
As at 31 December 2023 376,160
11. Related Party Transactions
Amount owed to/ (by) Allied Equipment Limited at Year End
£
Transactions with controlling entity
(733,581)
Transactions with other group companies
(90,628)
12. Ultimate Controlling Party
The company's ultimate controlling party is George R Walker Discretionary Settlement Trust . The Company is controlled by Boilerhouse Services Limited, a company registered in Northern Ireland, which owns 100% of the called up share capital in the company.
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