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Registered number: 08938575
N & S Commercial Services Limited
Unaudited Financial Statements
For The Year Ended 31 March 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: 08938575
2024 2023
Notes £ £ £ £
FIXED ASSETS
Intangible Assets 4 - 1,000
Tangible Assets 5 159,805 144,335
159,805 145,335
CURRENT ASSETS
Debtors 6 291,185 241,094
Cash at bank and in hand 10,033 569
301,218 241,663
Creditors: Amounts Falling Due Within One Year 7 (340,295 ) (266,409 )
NET CURRENT ASSETS (LIABILITIES) (39,077 ) (24,746 )
TOTAL ASSETS LESS CURRENT LIABILITIES 120,728 120,589
Creditors: Amounts Falling Due After More Than One Year 8 (67,966 ) (71,961 )
NET ASSETS 52,762 48,628
CAPITAL AND RESERVES
Called up share capital 10 122 122
Profit and Loss Account 52,640 48,506
SHAREHOLDERS' FUNDS 52,762 48,628
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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 James Stauber
Director
01/07/2024
The notes on pages 3 to 6 form part of these financial statements.
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Notes to the Financial Statements
1. General Information
N & S Commercial Services Limited is a private company, limited by shares, incorporated in England & Wales, registered number 08938575 . The registered office is Unit A, Moy Road, Taffs Well, Cardiff, CF15 7QB.
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 profit and loss account over its estimated economic life of 8 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
Fixtures & Fittings 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.
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2.6. 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.
2.7. 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.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 16 (2023: 12)
16 12
4. Intangible Assets
Goodwill
£
Cost
As at 1 April 2023 10,000
As at 31 March 2024 10,000
Amortisation
As at 1 April 2023 9,000
Provided during the period 1,000
As at 31 March 2024 10,000
5. Tangible Assets
Plant & Machinery Motor Vehicles Fixtures & Fittings Computer Equipment Total
£ £ £ £ £
Cost
As at 1 April 2023 216,077 78,130 - 22,112 316,319
Additions 9,902 20,175 34,656 7,411 72,144
Disposals - - - (11,612 ) (11,612 )
As at 31 March 2024 225,979 98,305 34,656 17,911 376,851
...CONTINUED
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Depreciation
As at 1 April 2023 106,716 50,656 - 14,612 171,984
Provided during the period 28,682 10,231 14,559 3,202 56,674
Disposals - - - (11,612 ) (11,612 )
As at 31 March 2024 135,398 60,887 14,559 6,202 217,046
Net Book Value
As at 31 March 2024 90,581 37,418 20,097 11,709 159,805
As at 1 April 2023 109,361 27,474 - 7,500 144,335
6. Debtors
2024 2023
£ £
Due within one year
Trade debtors 389,802 120,969
Prepayments and accrued income 10,333 -
Other debtors (108,950 ) 120,125
291,185 241,094
7. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Net obligations under finance lease and hire purchase contracts 14,210 10,831
Trade creditors 140,164 125,265
Bank loans and overdrafts 6,899 5,265
Corporation tax 20,974 11,652
Other taxes and social security 53,180 23,593
VAT 76,191 73,444
Other creditors 515 1,118
Other creditors (2) 20,000 -
Accrued expenses 2,399 14,017
Director's loan account 5,763 1,224
340,295 266,409
8. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Net obligations under finance lease and hire purchase contracts 36,369 36,425
Bank loans 31,597 35,536
67,966 71,961
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9. Obligations Under Finance Leases and Hire Purchase
2024 2023
£ £
The future minimum finance lease payments are as follows:
Not later than one year 14,210 10,831
Later than one year and not later than five years 36,369 36,425
50,579 47,256
50,579 47,256
10. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 122 122
11. Related Party Transactions
As at the balance sheet date, the company owed the director £5,763 (Director owed the company 2022: £17,536).
During the year, the company paid the director dividends £37,400 (2022: £38,000).
12. Ultimate Controlling Party
The company's ultimate controlling party is J stauber by virtue of his controlling ownership of the issued share capital in the company.
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