Acorah Software Products - Accounts Production 15.0.600 false true true 28 February 2023 1 March 2022 false 1 March 2023 29 February 2024 29 February 2024 08386971 Mr Michael Grainger Michael Grainger true iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 08386971 2023-02-28 08386971 2024-02-29 08386971 2023-03-01 2024-02-29 08386971 frs-core:CurrentFinancialInstruments 2024-02-29 08386971 frs-core:Non-currentFinancialInstruments 2024-02-29 08386971 frs-core:BetweenOneFiveYears 2024-02-29 08386971 frs-core:ComputerEquipment 2024-02-29 08386971 frs-core:ComputerEquipment 2023-03-01 2024-02-29 08386971 frs-core:ComputerEquipment 2023-02-28 08386971 frs-core:DevelopmentCostsCapitalisedDevelopmentExpenditure 2023-03-01 2024-02-29 08386971 frs-core:FurnitureFittings 2024-02-29 08386971 frs-core:FurnitureFittings 2023-03-01 2024-02-29 08386971 frs-core:FurnitureFittings 2023-02-28 08386971 frs-core:LandBuildings frs-core:LeasedAssetsHeldAsLessee 2024-02-29 08386971 frs-core:LandBuildings frs-core:LeasedAssetsHeldAsLessee 2023-03-01 2024-02-29 08386971 frs-core:LandBuildings frs-core:LeasedAssetsHeldAsLessee 2023-02-28 08386971 frs-core:MoreThanFiveYears 2024-02-29 08386971 frs-core:MotorVehicles 2024-02-29 08386971 frs-core:MotorVehicles 2023-03-01 2024-02-29 08386971 frs-core:MotorVehicles 2023-02-28 08386971 frs-core:OtherResidualIntangibleAssets 2024-02-29 08386971 frs-core:OtherResidualIntangibleAssets 2023-03-01 2024-02-29 08386971 frs-core:OtherResidualIntangibleAssets 2023-02-28 08386971 frs-core:PlantMachinery 2024-02-29 08386971 frs-core:PlantMachinery 2023-03-01 2024-02-29 08386971 frs-core:PlantMachinery 2023-02-28 08386971 frs-core:WithinOneYear 2024-02-29 08386971 frs-core:ShareCapital 2024-02-29 08386971 frs-core:RetainedEarningsAccumulatedLosses 2024-02-29 08386971 frs-bus:PrivateLimitedCompanyLtd 2023-03-01 2024-02-29 08386971 frs-bus:FilletedAccounts 2023-03-01 2024-02-29 08386971 frs-bus:SmallEntities 2023-03-01 2024-02-29 08386971 frs-bus:AuditExempt-NoAccountantsReport 2023-03-01 2024-02-29 08386971 frs-bus:SmallCompaniesRegimeForAccounts 2023-03-01 2024-02-29 08386971 frs-bus:OrdinaryShareClass1 2023-03-01 2024-02-29 08386971 frs-bus:OrdinaryShareClass1 2024-02-29 08386971 1 2023-03-01 2024-02-29 08386971 frs-bus:Director1 2023-03-01 2024-02-29 08386971 frs-countries:EnglandWales 2023-03-01 2024-02-29 08386971 2022-02-28 08386971 2023-02-28 08386971 2022-03-01 2023-02-28 08386971 frs-core:CurrentFinancialInstruments 2023-02-28 08386971 frs-core:Non-currentFinancialInstruments 2023-02-28 08386971 frs-core:BetweenOneFiveYears 2023-02-28 08386971 frs-core:MoreThanFiveYears 2023-02-28 08386971 frs-core:WithinOneYear 2023-02-28 08386971 frs-core:ShareCapital 2023-02-28 08386971 frs-core:RetainedEarningsAccumulatedLosses 2023-02-28 08386971 frs-bus:OrdinaryShareClass1 2022-03-01 2023-02-28
Registered number: 08386971
UTS Sales & Repairs Ltd
Unaudited Financial Statements
For The Year Ended 29 February 2024
Kent Coast Accounts Ltd
AAT Licenced Accountants
39 Brooke Avenue
Margate
Kent
CT9 5NG
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—7
Page 1
Balance Sheet
Registered number: 08386971
2024 2023
Notes £ £ £ £
FIXED ASSETS
Intangible Assets 4 21,825 24,969
Tangible Assets 5 381,377 388,059
403,202 413,028
CURRENT ASSETS
Stocks 6 996,182 1,122,492
Debtors 7 1,132,642 929,965
Cash at bank and in hand - 25,297
2,128,824 2,077,754
Creditors: Amounts Falling Due Within One Year 8 (1,050,007 ) (1,281,171 )
NET CURRENT ASSETS (LIABILITIES) 1,078,817 796,583
TOTAL ASSETS LESS CURRENT LIABILITIES 1,482,019 1,209,611
Creditors: Amounts Falling Due After More Than One Year 9 (224,805 ) (257,123 )
PROVISIONS FOR LIABILITIES
Deferred Taxation 11 (85,661 ) (93,851 )
NET ASSETS 1,171,553 858,637
CAPITAL AND RESERVES
Called up share capital 12 100 100
Profit and Loss Account 1,171,453 858,537
SHAREHOLDERS' FUNDS 1,171,553 858,637
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Page 2
For the year ending 29 February 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 Michael Grainger
Director
12th September 2024
The notes on pages 3 to 7 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
UTS Sales & Repairs Ltd Registered number 08386971 is a limited by shares company incorporated in England & Wales. The Registered Office is Oar Farm Barn, Brook Lane, Herne Bay, Kent, CT6 6TT.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
2.2. Going Concern Disclosure
The directors have not identified any material uncertainties related to events or conditions that may cast significant doubt about the company's ability to continue as a going concern.
2.3. Turnover
Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.
Revenue from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have passed to the buyer (usually on dispacth of the goods), the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the entity and the costs incurred or to be incurred in respect of the transaction can be measured reliably.
Revenue from contracts for the provision of professional services is recognised by reference to the stage of completion when the stage of completion, costs incurred and costs to complete can be estimated reliably.
2.4. Intangible Fixed Assets and Amortisation - Other Intangible
Intangible assets are legal fees on the extension of a short lease and the costs of a premium web domain It is amortised to profit and loss account over its economic life of 3 years.
Other intangible assets relates to patents registered to the Company for products, which are amortised to the Profit and Loss Account over its lifetime of 10 years.
2.5. Research and Development
In the research phase of an internal project it is not possible to demonstrate that the project will generate future economic benefits and hence all expenditure on research is recognised as an expense when it is incurred. Intangible assets are recognised from the development phase of a project if and only if certain specific criteria are met in order to demonstrate the asset will generate probable future economic benefits and that its cost can be reliably measured. 
2.6. Tangible Fixed Assets and Depreciation
Tangible fixed assets are stated at cost less depreciation. 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:
Leasehold Straight line between expiration of lease
Plant & Machinery 10% - 33% straight line
Motor Vehicles 33% straight line
Fixtures & Fittings 5 years straight line
Computer Equipment 28% straight line
Assets expected to fully lose their value in the first year of acquisition are fully depreciated at acquisition.
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2.7. Leasing and Hire Purchase Contracts
Assets obtained under hire purchase contracts and 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
Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company.
The following indications would normally lead to a lease being classified as a finance lease, and a further three indicators of situations that individually, or collectively, would also lead to a lease being classified as a finance lease. The first five are:
  1. The lease transfers ownership of the asset to the lessee by the end of the lease term.
  2. The lessee has the option to purchase the asset at a price that is expected to be sufficiently lower than the fair value at the date the option becomes exercisable and for it to be reasonably certain, at the inception of the lease, that the option will be exercised.
  3. The lease term is for the major part of the economic life of the asset even if title is not transferred.
  4. At the inception of the lease the present value of the minimum lease payments amounts to at least substantially all of the fair value of the leased asset.
  5. The leased assets are of such a specialised nature that only the lessee can use them without major modifications.
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.
Operating leases
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.
2.8. 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. 
2.9. 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.
2.10. Pensions
The company operates a defined pension contribution scheme. Contributions are charged to the profit and loss account as they become payable in accordance with the rules of the scheme.
2.11. Registrar Filing Requirements
The company has taken advantage of Companies Act 2006 section 444(1) and opted not to file the profit and loss account, directors report, and notes to the financial statements relating to the profit and loss account.
3. Average Number of Employees
Average number of employees, including directors, during the year was:
2024 2023
Office and administration 5 3
Manufacturing 34 31
39 34
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4. Intangible Assets
Other
£
Cost
As at 1 March 2023 32,624
Additions 270
As at 29 February 2024 32,894
Amortisation
As at 1 March 2023 7,655
Provided during the period 3,414
As at 29 February 2024 11,069
Net Book Value
As at 29 February 2024 21,825
As at 1 March 2023 24,969
5. Tangible Assets
Land & Property
Leasehold Plant & Machinery Motor Vehicles Fixtures & Fittings
£ £ £ £
Cost
As at 1 March 2023 13,789 786,842 69,941 1,880
Additions 30,242 73,774 29,985 6,092
As at 29 February 2024 44,031 860,616 99,926 7,972
Depreciation
As at 1 March 2023 3,763 433,191 46,422 1,880
Provided during the period 3,695 122,266 21,867 263
As at 29 February 2024 7,458 555,457 68,289 2,143
Net Book Value
As at 29 February 2024 36,573 305,159 31,637 5,829
As at 1 March 2023 10,026 353,651 23,519 -
Computer Equipment Total
£ £
Cost
As at 1 March 2023 3,169 875,621
Additions 2,396 142,489
As at 29 February 2024 5,565 1,018,110
Depreciation
As at 1 March 2023 2,306 487,562
Provided during the period 1,080 149,171
As at 29 February 2024 3,386 636,733
...CONTINUED
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Page 6
Net Book Value
As at 29 February 2024 2,179 381,377
As at 1 March 2023 863 388,059
6. Stocks
2024 2023
£ £
Materials 996,182 1,122,492
7. Debtors
2024 2023
£ £
Due within one year
Trade debtors 1,030,000 862,330
Amounts owed by participating interests 26,597 26,597
Other debtors 58,168 23,161
1,114,765 912,088
Due after more than one year
Amounts recoverable on contracts 17,877 17,877
1,132,642 929,965
8. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Net obligations under finance lease and hire purchase contracts 21,575 11,883
Trade creditors 431,200 760,065
Bank loans and overdrafts 237,120 244,372
Other creditors 211,493 198,415
Taxation and social security 148,619 66,436
1,050,007 1,281,171
9. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Net obligations under finance lease and hire purchase contracts 32,769 29,537
Bank loans 192,036 227,586
224,805 257,123
10. Obligations Under Finance Leases and Hire Purchase
2024 2023
£ £
The future minimum finance lease payments are as follows:
Not later than one year 21,575 11,883
Later than one year and not later than five years 32,769 29,537
54,344 41,420
54,344 41,420
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11. Deferred Taxation
The provision for deferred tax is made up as follows:
2024 2023
£ £
Other timing differences 85,661 93,851
12. Share Capital
2024 2023
Allotted, called up and fully paid £ £
100 Ordinary Shares of £ 1.000 each 100 100
13. Other Commitments
At the end of the period the company had minimum lease payments under non-cancellable leases as follows:
2024 2023
£ £
Not later than one year 87,167 85,269
Later than one year and not later than five years 212,418 133,401
Later than five years 982 87,500
300,567 306,170
14. Pension Commitments
The company operates a defined contribution pension scheme for employees. The assets of the scheme are held separately from those of the company in an independently administered fund. At the balance sheet date unpaid contributions of 2024 - £4,503 (2023 - £11,082) were due to the fund. They are included in Other Creditors.
15. Ultimate Controlling Party
The company's ultimate controlling party is Michael Grainger by virtue of his ownership of 100% of the issued share capital in the company.
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