Acorah Software Products - Accounts Production 14.5.601 false true 15 August 2022 16 August 2021 false 16 August 2022 8 January 2024 8 January 2024 10871202 Mr Colin McKenzie Mr Colin McKenzie true iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 10871202 2022-08-15 10871202 2024-01-08 10871202 2022-08-16 2024-01-08 10871202 frs-core:CurrentFinancialInstruments 2024-01-08 10871202 frs-core:Non-currentFinancialInstruments 2024-01-08 10871202 frs-core:BetweenOneFiveYears 2024-01-08 10871202 frs-core:ComputerEquipment 2024-01-08 10871202 frs-core:ComputerEquipment 2022-08-16 2024-01-08 10871202 frs-core:ComputerEquipment 2022-08-15 10871202 frs-core:CopyrightsPatentsTrademarksServiceOperatingRights 2024-01-08 10871202 frs-core:CopyrightsPatentsTrademarksServiceOperatingRights 2022-08-16 2024-01-08 10871202 frs-core:CopyrightsPatentsTrademarksServiceOperatingRights 2022-08-15 10871202 frs-core:MotorVehicles 2024-01-08 10871202 frs-core:MotorVehicles 2022-08-16 2024-01-08 10871202 frs-core:MotorVehicles 2022-08-15 10871202 frs-core:PlantMachinery 2024-01-08 10871202 frs-core:PlantMachinery 2022-08-16 2024-01-08 10871202 frs-core:PlantMachinery 2022-08-15 10871202 frs-core:WithinOneYear 2024-01-08 10871202 frs-core:ShareCapital 2024-01-08 10871202 frs-core:RetainedEarningsAccumulatedLosses 2024-01-08 10871202 frs-bus:PrivateLimitedCompanyLtd 2022-08-16 2024-01-08 10871202 frs-bus:FilletedAccounts 2022-08-16 2024-01-08 10871202 frs-bus:SmallEntities 2022-08-16 2024-01-08 10871202 frs-bus:AuditExempt-NoAccountantsReport 2022-08-16 2024-01-08 10871202 frs-bus:SmallCompaniesRegimeForAccounts 2022-08-16 2024-01-08 10871202 1 2022-08-16 2024-01-08 10871202 frs-bus:Director1 2022-08-16 2024-01-08 10871202 frs-countries:EnglandWales 2022-08-16 2024-01-08 10871202 2021-08-15 10871202 2022-08-15 10871202 2021-08-16 2022-08-15 10871202 frs-core:CurrentFinancialInstruments 2022-08-15 10871202 frs-core:Non-currentFinancialInstruments 2022-08-15 10871202 frs-core:BetweenOneFiveYears 2022-08-15 10871202 frs-core:WithinOneYear 2022-08-15 10871202 frs-core:ShareCapital 2022-08-15 10871202 frs-core:RetainedEarningsAccumulatedLosses 2022-08-15
Registered number: 10871202
2nd Generation Facades Ltd
Unaudited Financial Statements
For the Period 16 August 2022 to 8 January 2024
Xeinadin South Wales & West Limited
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—6
Page 1
Balance Sheet
Registered number: 10871202
8 January 2024 15 August 2022
Notes £ £ £ £
FIXED ASSETS
Intangible Assets 4 - 4,000
Tangible Assets 5 41,810 83,021
41,810 87,021
CURRENT ASSETS
Stocks 6 881,110 1,421,297
Debtors 7 3,402,504 927,310
Cash at bank and in hand 844,705 58,598
5,128,319 2,407,205
Creditors: Amounts Falling Due Within One Year 8 (4,162,330 ) (1,879,353 )
NET CURRENT ASSETS (LIABILITIES) 965,989 527,852
TOTAL ASSETS LESS CURRENT LIABILITIES 1,007,799 614,873
Creditors: Amounts Falling Due After More Than One Year 9 (28,345 ) (52,217 )
PROVISIONS FOR LIABILITIES
Deferred Taxation 11 (7,410 ) (16,948 )
NET ASSETS 972,044 545,708
CAPITAL AND RESERVES
Called up share capital 12 99 99
Profit and Loss Account 971,945 545,609
SHAREHOLDERS' FUNDS 972,044 545,708
Page 1
Page 2
For the period ending 8 January 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
Mr Colin McKenzie
Director
28/06/2024
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
2nd Generation Facades Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 10871202 . The registered office is Gwaun Miskin House Mill Lane, Cross Inn, Pontyclun, Rhondda Cynon Taff, CF72 8FQ.
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 - Intellectual Property
Intellectual property assets are patents in relation to specialised cladding panels. It is amortised to the profit and loss account over its estimated economic life of 20 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 25% reducing balance
Motor Vehicles 25% reducing balance
Computer Equipment 33% straight line
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.
Page 3
Page 4
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 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.
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 period was:
8 January 2024 15 August 2022
Sales, marketing and distribution 11 12
11 12
4. Intangible Assets
Intellectual Property
£
Cost
As at 16 August 2022 160,000
As at 8 January 2024 160,000
Amortisation
As at 16 August 2022 156,000
Provided during the period 4,000
As at 8 January 2024 160,000
Page 4
Page 5
5. Tangible Assets
Plant & Machinery Motor Vehicles Computer Equipment Total
£ £ £ £
Cost
As at 16 August 2022 418,611 98,333 27,544 544,488
Additions - - 6,709 6,709
Disposals - (23,729 ) - (23,729 )
As at 8 January 2024 418,611 74,604 34,253 527,468
Depreciation
As at 16 August 2022 392,431 55,273 13,763 461,467
Provided during the period 9,856 12,024 15,044 36,924
Disposals - (12,733 ) - (12,733 )
As at 8 January 2024 402,287 54,564 28,807 485,658
Net Book Value
As at 8 January 2024 16,324 20,040 5,446 41,810
As at 16 August 2022 26,180 43,060 13,781 83,021
6. Stocks
8 January 2024 15 August 2022
£ £
Work in progress 881,110 1,421,297
7. Debtors
8 January 2024 15 August 2022
£ £
Due within one year
Trade debtors 1,417,493 301,195
Other debtors 886,641 611,939
VAT 424,468 -
Directors' loan accounts 673,902 14,176
3,402,504 927,310
8. Creditors: Amounts Falling Due Within One Year
8 January 2024 15 August 2022
£ £
Net obligations under finance lease and hire purchase contracts 4,623 14,988
Trade creditors 2,391,023 943,954
Bank loans and overdrafts 10,800 -
Corporation tax 507,708 114,102
Other taxes and social security 1,129,712 514,828
...CONTINUED
Page 5
Page 6
VAT - 175,238
Other creditors 116,068 114,028
Accrued expenses 2,396 2,215
4,162,330 1,879,353
9. Creditors: Amounts Falling Due After More Than One Year
8 January 2024 15 August 2022
£ £
Net obligations under finance lease and hire purchase contracts 10,663 9,750
Bank loans 17,682 42,467
28,345 52,217
10. Obligations Under Finance Leases and Hire Purchase
8 January 2024 15 August 2022
£ £
The future minimum finance lease payments are as follows:
Not later than one year 4,623 14,988
Later than one year and not later than five years 10,663 9,750
15,286 24,738
15,286 24,738
11. Deferred Taxation
The provision for deferred tax is made up as follows:
8 January 2024 15 August 2022
£ £
Other timing differences 7,410 16,948
12. Share Capital
8 January 2024 15 August 2022
£ £
Allotted, Called up and fully paid 99 99
13. Related Party Transactions
At the end of the financial period under consideration the company was due £673,877 (2022: £14,176) from Colin McKenzie.
14. Ultimate Controlling Party
The company's ultimate controlling party is Mr Colin McKenzie by virtue of his ownership of 100% of the issued share capital in the company.
Page 6