Acorah Software Products - Accounts Production 14.6.300 false true 31 December 2022 1 January 2022 false 1 January 2023 31 December 2023 31 December 2023 NI073868 Mr Patrick Kennedy iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure NI073868 2022-12-31 NI073868 2023-12-31 NI073868 2023-01-01 2023-12-31 NI073868 frs-core:CurrentFinancialInstruments 2023-12-31 NI073868 frs-core:Non-currentFinancialInstruments 2023-12-31 NI073868 frs-core:FurnitureFittings 2023-12-31 NI073868 frs-core:FurnitureFittings 2023-01-01 2023-12-31 NI073868 frs-core:FurnitureFittings 2022-12-31 NI073868 frs-core:MotorVehicles 2023-12-31 NI073868 frs-core:MotorVehicles 2023-01-01 2023-12-31 NI073868 frs-core:MotorVehicles 2022-12-31 NI073868 frs-core:PlantMachinery 2023-12-31 NI073868 frs-core:PlantMachinery 2023-01-01 2023-12-31 NI073868 frs-core:PlantMachinery 2022-12-31 NI073868 frs-core:ShareCapital 2023-12-31 NI073868 frs-core:RetainedEarningsAccumulatedLosses 2023-12-31 NI073868 frs-bus:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 NI073868 frs-bus:FilletedAccounts 2023-01-01 2023-12-31 NI073868 frs-bus:SmallEntities 2023-01-01 2023-12-31 NI073868 frs-bus:AuditExempt-NoAccountantsReport 2023-01-01 2023-12-31 NI073868 frs-bus:SmallCompaniesRegimeForAccounts 2023-01-01 2023-12-31 NI073868 frs-bus:Director1 2023-01-01 2023-12-31 NI073868 frs-countries:NorthernIreland 2023-01-01 2023-12-31 NI073868 2021-12-31 NI073868 2022-12-31 NI073868 2022-01-01 2022-12-31 NI073868 frs-core:CurrentFinancialInstruments 2022-12-31 NI073868 frs-core:Non-currentFinancialInstruments 2022-12-31 NI073868 frs-core:ShareCapital 2022-12-31 NI073868 frs-core:RetainedEarningsAccumulatedLosses 2022-12-31
Registered number: NI073868
p k Wholesalers limited
Financial Statements
For The Year Ended 31 December 2023
JMC ACCOUNTS SERVICES
24B EVISH RD
STRABANE
Financial Statements
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: NI073868
2023 2022
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 114,738 113,742
114,738 113,742
CURRENT ASSETS
Stocks 5 150,146 124,689
Debtors 6 276,820 324,873
Cash at bank and in hand 819,701 683,692
1,246,667 1,133,254
Creditors: Amounts Falling Due Within One Year 7 (317,265 ) (298,266 )
NET CURRENT ASSETS (LIABILITIES) 929,402 834,988
TOTAL ASSETS LESS CURRENT LIABILITIES 1,044,140 948,730
Creditors: Amounts Falling Due After More Than One Year 8 (93,737 ) (93,745 )
NET ASSETS 950,403 854,985
CAPITAL AND RESERVES
Called up share capital 9 1 1
Profit and Loss Account 950,402 854,984
SHAREHOLDERS' FUNDS 950,403 854,985
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 member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his 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 Patrick Kennedy
Director
24/04/2024
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
p k Wholesalers limited is a private company, limited by shares, incorporated in Northern Ireland, registered number NI073868 . The registered office is Unit 5 Knockroe Ind Estate, Orchard Rd, Strabane, Tyrone, BT82 9QR.
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 20% Reducing Balance
Motor Vehicles 25% Reducing Balance
Fixtures & Fittings 20% Reducing Balance
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. Foreign Currencies
Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate ruling on the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
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
Page 3
Page 4
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: 6 (2022: )
6 -
4. Tangible Assets
Plant & Machinery Motor Vehicles Fixtures & Fittings Total
£ £ £ £
Cost
As at 1 January 2023 248,887 6,700 29,127 284,714
Additions 16,062 - - 16,062
As at 31 December 2023 264,949 6,700 29,127 300,776
Depreciation
As at 1 January 2023 155,522 5,747 9,703 170,972
Provided during the period 10,943 238 3,885 15,066
As at 31 December 2023 166,465 5,985 13,588 186,038
Net Book Value
As at 31 December 2023 98,484 715 15,539 114,738
As at 1 January 2023 93,365 953 19,424 113,742
5. Stocks
2023 2022
£ £
Stock 150,146 124,689
6. Debtors
2023 2022
£ £
Due within one year
Trade debtors 274,592 324,873
VAT 2,228 -
276,820 324,873
Page 4
Page 5
7. Creditors: Amounts Falling Due Within One Year
2023 2022
£ £
Trade creditors 273,815 259,600
Corporation tax 40,824 36,040
Other taxes and social security 2,626 2,626
317,265 298,266
8. Creditors: Amounts Falling Due After More Than One Year
2023 2022
£ £
Directors loan account 93,737 93,745
93,737 93,745
9. Share Capital
2023 2022
£ £
Allotted, Called up and fully paid 1 1
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