Acorah Software Products - Accounts Production 15.0.600 false true 31 March 2023 1 April 2022 false 1 April 2023 31 March 2024 31 March 2024 10882483 Mr Timothy Holloway iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 10882483 2023-03-31 10882483 2024-03-31 10882483 2023-04-01 2024-03-31 10882483 frs-core:CurrentFinancialInstruments 2024-03-31 10882483 frs-core:Non-currentFinancialInstruments 2024-03-31 10882483 frs-core:BetweenOneFiveYears 2024-03-31 10882483 frs-core:ComputerEquipment 2024-03-31 10882483 frs-core:ComputerEquipment 2023-04-01 2024-03-31 10882483 frs-core:ComputerEquipment 2023-03-31 10882483 frs-core:NetGoodwill 2024-03-31 10882483 frs-core:NetGoodwill 2023-04-01 2024-03-31 10882483 frs-core:NetGoodwill 2023-03-31 10882483 frs-core:MotorVehicles 2024-03-31 10882483 frs-core:MotorVehicles 2023-04-01 2024-03-31 10882483 frs-core:MotorVehicles 2023-03-31 10882483 frs-core:PlantMachinery 2024-03-31 10882483 frs-core:PlantMachinery 2023-04-01 2024-03-31 10882483 frs-core:PlantMachinery 2023-03-31 10882483 frs-core:WithinOneYear 2024-03-31 10882483 frs-core:ShareCapital 2024-03-31 10882483 frs-core:RetainedEarningsAccumulatedLosses 2024-03-31 10882483 frs-bus:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 10882483 frs-bus:FilletedAccounts 2023-04-01 2024-03-31 10882483 frs-bus:SmallEntities 2023-04-01 2024-03-31 10882483 frs-bus:AuditExempt-NoAccountantsReport 2023-04-01 2024-03-31 10882483 frs-bus:SmallCompaniesRegimeForAccounts 2023-04-01 2024-03-31 10882483 frs-bus:OrdinaryShareClass1 2023-04-01 2024-03-31 10882483 frs-bus:OrdinaryShareClass1 2024-03-31 10882483 frs-bus:OrdinaryShareClass2 2023-04-01 2024-03-31 10882483 frs-bus:OrdinaryShareClass2 2024-03-31 10882483 frs-bus:Director1 2023-04-01 2024-03-31 10882483 frs-bus:Director1 2023-03-31 10882483 frs-bus:Director1 2024-03-31 10882483 frs-countries:EnglandWales 2023-04-01 2024-03-31 10882483 2022-03-31 10882483 2023-03-31 10882483 2022-04-01 2023-03-31 10882483 frs-core:CurrentFinancialInstruments 2023-03-31 10882483 frs-core:Non-currentFinancialInstruments 2023-03-31 10882483 frs-core:BetweenOneFiveYears 2023-03-31 10882483 frs-core:WithinOneYear 2023-03-31 10882483 frs-core:ShareCapital 2023-03-31 10882483 frs-core:RetainedEarningsAccumulatedLosses 2023-03-31 10882483 frs-bus:OrdinaryShareClass1 2022-04-01 2023-03-31 10882483 frs-bus:OrdinaryShareClass2 2022-04-01 2023-03-31
Registered number: 10882483
The Milford Window Company Ltd
Unaudited Financial Statements
For The Year Ended 31 March 2024
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—6
Page 1
Balance Sheet
Registered number: 10882483
2024 2023
Notes £ £ £ £
FIXED ASSETS
Intangible Assets 4 48,000 56,000
Tangible Assets 5 86,342 89,391
134,342 145,391
CURRENT ASSETS
Stocks 6 1,000 1,000
Debtors 7 89,809 27,792
Cash at bank and in hand 21,554 48,601
112,363 77,393
Creditors: Amounts Falling Due Within One Year 8 (196,973 ) (158,113 )
NET CURRENT ASSETS (LIABILITIES) (84,610 ) (80,720 )
TOTAL ASSETS LESS CURRENT LIABILITIES 49,732 64,671
Creditors: Amounts Falling Due After More Than One Year 9 (8,943 ) (14,592 )
NET ASSETS 40,789 50,079
CAPITAL AND RESERVES
Called up share capital 11 175 175
Profit and Loss Account 40,614 49,904
SHAREHOLDERS' FUNDS 40,789 50,079
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For the year ending 31 March 2024 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 Timothy Holloway
Director
24/09/2024
The notes on pages 3 to 6 form part of these financial statements.
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Page 3
Notes to the Financial Statements
1. General Information
The Milford Window Company Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 10882483 . The registered office is 51 St Mary's Road, Tonbridge, Kent, TN9 2LE.
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. Intangible Fixed Assets and Amortisation - Goodwill
Goodwill is the difference between amounts paid on the acquisition of a business and the fair value of the separable net assets. It is amortised to the profit & loss account over its estimated economic life of ten years.
2.4. 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% Reducing Balance
Motor Vehicles 15% Reducing Balance
Computer Equipment 15% Reducing Balance
2.5. Leasing and Hire Purchase Contracts
Assets obtained under finance leases are capitalised as tangible fixed assets. Assets acquired under finance leases are depreciated over the shorter of the lease term and their useful lives. Assets acquired under hire purchase contracts are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in the creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.

Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to profit and loss account as incurred.
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. 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 year 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 asset reflects 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.
2.8. Government Grant
Government grants are recognised in the profit and loss account in an appropriate manner that matches them with the expenditure towards which they are intended to contribute.
Grants for immediate financial support or to cover costs already incurred are recognised immediately in the profit and loss account. Grants towards general activities of the entity over a specific period are recognised in the profit and loss account over that period.
Grants towards fixed assets are recognised over the expected useful lives of the related assets and are treated as deferred income and released to the profit and loss account over the useful life of the asset concerned.
All grants in the profit and loss account are recognised when all conditions for receipt have been complied with.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 5 (2023: 5)
5 5
4. Intangible Assets
Goodwill
£
Cost
As at 1 April 2023 80,000
As at 31 March 2024 80,000
Amortisation
As at 1 April 2023 24,000
Provided during the period 8,000
As at 31 March 2024 32,000
Net Book Value
As at 31 March 2024 48,000
As at 1 April 2023 56,000
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5. Tangible Assets
Plant & Machinery Motor Vehicles Computer Equipment Total
£ £ £ £
Cost
As at 1 April 2023 61,818 58,000 7,286 127,104
Additions 10,980 - 1,208 12,188
As at 31 March 2024 72,798 58,000 8,494 139,292
Depreciation
As at 1 April 2023 12,612 22,381 2,720 37,713
Provided during the period 9,027 5,343 867 15,237
As at 31 March 2024 21,639 27,724 3,587 52,950
Net Book Value
As at 31 March 2024 51,159 30,276 4,907 86,342
As at 1 April 2023 49,206 35,619 4,566 89,391
6. Stocks
2024 2023
£ £
Stock 1,000 1,000
7. Debtors
2024 2023
£ £
Due within one year
Trade debtors 31,212 9,167
Other debtors 56,912 18,625
Director's loan account 1,685 -
89,809 27,792
8. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Net obligations under finance lease and hire purchase contracts 5,649 5,648
Trade creditors 25,612 31,457
Bank loans and overdrafts 3 3
Corporation tax 32,884 29,564
Other taxes and social security 936 828
VAT 17,394 11,971
Other creditors 62,245 17,656
Accruals and deferred income 52,250 40,023
Director's loan account - 20,963
196,973 158,113
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9. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Net obligations under finance lease and hire purchase contracts 8,943 14,592
10. Obligations Under Finance Leases and Hire Purchase
2024 2023
£ £
The future minimum finance lease payments are as follows:
Not later than one year 5,649 5,648
Later than one year and not later than five years 8,943 14,592
14,592 20,240
14,592 20,240
11. Share Capital
2024 2023
Allotted, called up and fully paid £ £
100 Ordinary Shares of £ 1.00 each 100 100
75 Ordinary A shares of £ 1.00 each 75 75
175 175
12. Directors Advances, Credits and Guarantees
Included within Debtors are the following loans to directors:
As at 1 April 2023 Amounts advanced Amounts repaid Amounts written off As at 31 March 2024
£ £ £ £ £
Mr Timothy Holloway 20,963 (58,804 ) 36,156 - 1,685
The above loan is unsecured, interest free and repayable on demand.
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