Acorah Software Products - Accounts Production 15.0.600 false true 30 December 2022 1 January 2022 false 31 December 2022 30 December 2023 30 December 2023 08113423 Mr Adrian O'Donovan Mr Ashley O'Donovan iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 08113423 2022-12-30 08113423 2023-12-30 08113423 2022-12-31 2023-12-30 08113423 frs-core:CurrentFinancialInstruments 2023-12-30 08113423 frs-core:Non-currentFinancialInstruments 2023-12-30 08113423 frs-core:ComputerEquipment 2023-12-30 08113423 frs-core:ComputerEquipment 2022-12-31 2023-12-30 08113423 frs-core:ComputerEquipment 2022-12-30 08113423 frs-core:FurnitureFittings 2023-12-30 08113423 frs-core:FurnitureFittings 2022-12-31 2023-12-30 08113423 frs-core:FurnitureFittings 2022-12-30 08113423 frs-core:LandBuildings frs-core:OwnedOrFreeholdAssets 2023-12-30 08113423 frs-core:LandBuildings frs-core:OwnedOrFreeholdAssets 2022-12-31 2023-12-30 08113423 frs-core:LandBuildings frs-core:OwnedOrFreeholdAssets 2022-12-30 08113423 frs-core:PlantMachinery 2023-12-30 08113423 frs-core:PlantMachinery 2022-12-31 2023-12-30 08113423 frs-core:PlantMachinery 2022-12-30 08113423 frs-core:ShareCapital 2023-12-30 08113423 frs-core:RetainedEarningsAccumulatedLosses 2023-12-30 08113423 frs-bus:PrivateLimitedCompanyLtd 2022-12-31 2023-12-30 08113423 frs-bus:FilletedAccounts 2022-12-31 2023-12-30 08113423 frs-bus:SmallEntities 2022-12-31 2023-12-30 08113423 frs-bus:AuditExempt-NoAccountantsReport 2022-12-31 2023-12-30 08113423 frs-bus:SmallCompaniesRegimeForAccounts 2022-12-31 2023-12-30 08113423 frs-bus:Director1 2022-12-31 2023-12-30 08113423 frs-bus:Director2 2022-12-31 2023-12-30 08113423 frs-core:Non-currentFinancialInstruments 1 2023-12-30 08113423 frs-core:CurrentFinancialInstruments 2 2023-12-30 08113423 frs-core:Non-currentFinancialInstruments 2 2023-12-30 08113423 frs-core:CurrentFinancialInstruments 3 2023-12-30 08113423 frs-core:Non-currentFinancialInstruments 3 2023-12-30 08113423 frs-countries:EnglandWales 2022-12-31 2023-12-30 08113423 2021-12-31 08113423 2022-12-30 08113423 2022-01-01 2022-12-30 08113423 frs-core:CurrentFinancialInstruments 2022-12-30 08113423 frs-core:Non-currentFinancialInstruments 2022-12-30 08113423 frs-core:ShareCapital 2022-12-30 08113423 frs-core:RetainedEarningsAccumulatedLosses 2022-12-30 08113423 frs-core:Non-currentFinancialInstruments 1 2022-12-30 08113423 frs-core:CurrentFinancialInstruments 2 2022-12-30 08113423 frs-core:Non-currentFinancialInstruments 2 2022-12-30 08113423 frs-core:CurrentFinancialInstruments 3 2022-12-30 08113423 frs-core:Non-currentFinancialInstruments 3 2022-12-30
Registered number: 08113423
A & M Ductwork Limited
Unaudited Financial Statements
For The Year Ended 30 December 2023
TAG Accountants Group
Unaudited Financial Statements
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—6
Page 1
Balance Sheet
Registered number: 08113423
2023 2022
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 535,017 514,896
535,017 514,896
CURRENT ASSETS
Stocks 5 72,478 127,500
Debtors 6 20,098 10,266
Cash at bank and in hand 8,754 16,542
101,330 154,308
Creditors: Amounts Falling Due Within One Year 7 (149,754 ) (204,186 )
NET CURRENT ASSETS (LIABILITIES) (48,424 ) (49,878 )
TOTAL ASSETS LESS CURRENT LIABILITIES 486,593 465,018
Creditors: Amounts Falling Due After More Than One Year 8 (292,129 ) (312,347 )
PROVISIONS FOR LIABILITIES
Deferred Taxation (14,151 ) (16,676 )
NET ASSETS 180,313 135,995
CAPITAL AND RESERVES
Called up share capital 10 1,000 1,000
Profit and Loss Account 179,313 134,995
SHAREHOLDERS' FUNDS 180,313 135,995
Page 1
Page 2
For the year ending 30 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 Ashley O'Donovan
Director
23rd September 2024
The notes on pages 3 to 6 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
A & M Ductwork Limited is a private company, limited by shares, incorporated in England & Wales, registered number 08113423 . The registered office is A & M Ductwork, Field Street, Willenhall, West Midlands, WV13 2NY.
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 0% Staight line
Plant & Machinery 15% Reducing balance
Fixtures & Fittings 25% Reducing balance
Computer Equipment 25% 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.
Page 3
Page 4
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.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 11 (2022: 11)
11 11
4. Tangible Assets
Land & Property
Freehold Plant & Machinery Fixtures & Fittings Computer Equipment Total
£ £ £ £ £
Cost
As at 31 December 2022 427,124 280,927 1,257 2,375 711,683
Additions 33,416 - - - 33,416
As at 30 December 2023 460,540 280,927 1,257 2,375 745,099
Depreciation
As at 31 December 2022 - 194,443 624 1,720 196,787
Provided during the period - 12,972 159 164 13,295
As at 30 December 2023 - 207,415 783 1,884 210,082
Net Book Value
As at 30 December 2023 460,540 73,512 474 491 535,017
As at 31 December 2022 427,124 86,484 633 655 514,896
Page 4
Page 5
5. Stocks
2023 2022
£ £
Stock - materials 72,478 127,500
6. Debtors
2023 2022
£ £
Due within one year
Trade debtors - 8,365
Prepayments and accrued income 20,098 1,901
20,098 10,266
7. Creditors: Amounts Falling Due Within One Year
2023 2022
£ £
Trade creditors 21,563 100,875
Corporation tax 5,132 8,986
Other taxes and social security 3,457 3,839
VAT 71,499 47,941
Barclays Bounceback Loan 9,442 9,209
Barclays Loan- Freehold Land 13,746 13,562
Accruals and deferred income 6,922 8,322
Directors' loan accounts 11,084 11,452
Amounts owed to related parties 6,909 -
149,754 204,186
8. Creditors: Amounts Falling Due After More Than One Year
2023 2022
£ £
Other loans (Long term liabilities - creditors > 1 year) 93,992 93,992
Barclays Bounceback loan (Long term liabilities - creditors > 1 year) 14,725 24,958
Barclays Loan-Freehold Land (Long term liabilities - creditors > 1 year) 183,412 193,397
292,129 312,347
9. Secured Creditors
Of the creditors the following amounts are secured.
2023 2022
£ £
Bank loans and overdrafts 197,158 206,959
Page 5
Page 6
10. Share Capital
2023 2022
£ £
Allotted, Called up and fully paid 1,000 1,000
11. Related Party Transactions
The Company owed £93,992 (2022 : £93,992) to the directors' grandmother, Mrs J I M Bucknall. The loan is unsecured and on an interest free basis.
Page 6