Acorah Software Products - Accounts Production 15.0.400 false true 28 February 2023 1 March 2022 false 1 March 2023 29 February 2024 29 February 2024 05364486 Mrs Christine Lockton-Roberts Mr Paul Lockton-Roberts Mr Paul Lockton-Roberts iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 05364486 2023-02-28 05364486 2024-02-29 05364486 2023-03-01 2024-02-29 05364486 frs-core:CurrentFinancialInstruments 2024-02-29 05364486 frs-core:FurnitureFittings 2024-02-29 05364486 frs-core:FurnitureFittings 2023-03-01 2024-02-29 05364486 frs-core:FurnitureFittings 2023-02-28 05364486 frs-core:MotorVehicles 2024-02-29 05364486 frs-core:MotorVehicles 2023-03-01 2024-02-29 05364486 frs-core:MotorVehicles 2023-02-28 05364486 frs-core:PlantMachinery 2024-02-29 05364486 frs-core:PlantMachinery 2023-03-01 2024-02-29 05364486 frs-core:PlantMachinery 2023-02-28 05364486 frs-core:ShareCapital 2024-02-29 05364486 frs-core:RetainedEarningsAccumulatedLosses 2024-02-29 05364486 frs-bus:PrivateLimitedCompanyLtd 2023-03-01 2024-02-29 05364486 frs-bus:FilletedAccounts 2023-03-01 2024-02-29 05364486 frs-bus:SmallEntities 2023-03-01 2024-02-29 05364486 frs-bus:AuditExempt-NoAccountantsReport 2023-03-01 2024-02-29 05364486 frs-bus:SmallCompaniesRegimeForAccounts 2023-03-01 2024-02-29 05364486 frs-bus:OrdinaryShareClass1 2023-03-01 2024-02-29 05364486 frs-bus:OrdinaryShareClass1 2024-02-29 05364486 frs-core:DeferredTaxation 2023-03-01 2024-02-29 05364486 frs-core:DeferredTaxation 2023-02-28 05364486 frs-core:DeferredTaxation 2024-02-29 05364486 frs-bus:Director1 2023-03-01 2024-02-29 05364486 frs-bus:Director2 2023-03-01 2024-02-29 05364486 frs-bus:CompanySecretary1 2023-03-01 2024-02-29 05364486 frs-countries:EnglandWales 2023-03-01 2024-02-29 05364486 2022-02-28 05364486 2023-02-28 05364486 2022-03-01 2023-02-28 05364486 frs-core:CurrentFinancialInstruments 2023-02-28 05364486 frs-core:ShareCapital 2023-02-28 05364486 frs-core:RetainedEarningsAccumulatedLosses 2023-02-28 05364486 frs-bus:OrdinaryShareClass1 2022-03-01 2023-02-28
Registered number: 05364486
Retrofit Installations Limited
Unaudited Financial Statements
For The Year Ended 29 February 2024
Daverns
Chartered Accountants
Hardy House
Northbridge Road
Berkhamsted
Herts
HP4 1EF
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 05364486
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 11,018 11,890
11,018 11,890
CURRENT ASSETS
Stocks 5 14,118 12,077
Debtors 6 8,852 11,673
Cash at bank and in hand 42,238 81,373
65,208 105,123
Creditors: Amounts Falling Due Within One Year 7 (67,859 ) (66,857 )
NET CURRENT ASSETS (LIABILITIES) (2,651 ) 38,266
TOTAL ASSETS LESS CURRENT LIABILITIES 8,367 50,156
PROVISIONS FOR LIABILITIES
Deferred Taxation 8 (1,580 ) (1,579 )
NET ASSETS 6,787 48,577
CAPITAL AND RESERVES
Called up share capital 10 100 100
Profit and Loss Account 6,687 48,477
SHAREHOLDERS' FUNDS 6,787 48,577
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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 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
Mrs Christine Lockton-Roberts
Director
Mr Paul Lockton-Roberts
Director
3rd October 2024
The notes on pages 3 to 5 form part of these financial statements.
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Notes to the Financial Statements
1. General Information
Retrofit Installations Limited is a private company, limited by shares, incorporated in England & Wales, registered number 05364486 . The registered office is Hardy House, Northbridge Road, Berkhamsted, Herts, HP4 1EF.
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 represents net invoiced sales of goods and services, excluding value added tax.
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 25% reducing balance
Motor Vehicles 25% reducing balance
Fixtures & Fittings 33% straight line
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.
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 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.
2.6. Pensions
The company contributes to a work place pension scheme (NEST) in line with its obligations under auto enrolement. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.
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3. Average Number of Employees
Average number of employees, including directors, during the year was:
2024 2023
Office and administration 7 6
7 6
4. Tangible Assets
Plant & Machinery Motor Vehicles Fixtures & Fittings Total
£ £ £ £
Cost
As at 1 March 2023 69,122 1,000 17,386 87,508
Additions - 2,800 - 2,800
As at 29 February 2024 69,122 3,800 17,386 90,308
Depreciation
As at 1 March 2023 57,983 250 17,385 75,618
Provided during the period 2,785 887 - 3,672
As at 29 February 2024 60,768 1,137 17,385 79,290
Net Book Value
As at 29 February 2024 8,354 2,663 1 11,018
As at 1 March 2023 11,139 750 1 11,890
5. Stocks
2024 2023
£ £
Stock 14,118 12,077
6. Debtors
2024 2023
£ £
Due within one year
Trade debtors 1,764 3,711
Prepayments and accrued income 7,088 7,962
8,852 11,673
7. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 21,257 35,701
Corporation tax 30,454 20,702
Other taxes and social security 10,771 6,173
Other creditors 1,478 411
Accruals and deferred income 3,332 3,061
Directors' loan accounts 567 809
67,859 66,857
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8. Deferred Taxation
The provision for deferred tax is made up of accelerated capital allowances.
2024 2023
£ £
Other timing differences 1,580 1,579
9. Provisions for Liabilities
Deferred Tax Total
£ £
As at 1 March 2023 1,579 1,579
Additions 1 1
Balance at 29 February 2024 1,580 1,580
10. Share Capital
2024 2023
Allotted, called up and fully paid £ £
100 Ordinary Shares of £ 1 each 100 100
11. Related Party Transactions
During the year, total dividends of £139,000 (2023-£118,000) were paid to the directors.
The company is controlled by the directors, C Lockton-Roberts and P Lockton-Roberts, who each hold 50% of the issued share capital.
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