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Registered number: 08003891
A.T.E.M. Limited
Financial Statements
For The Year Ended 31 March 2024
Accounts Unlocked Limited
Office 43, The Cobalt Building
1600 Eureka Park, Lower Pemberton
Ashford
Kent
TN25 4BF
Contents
Page
Statement of Financial Position 1—2
Notes to the Financial Statements 3—5
Page 1
Statement of Financial Position
Registered number: 08003891
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 71,736 46,272
71,736 46,272
CURRENT ASSETS
Stocks 5 4,250 4,000
Debtors 6 94,543 123,429
Cash at bank and in hand 44,135 55,729
142,928 183,158
Creditors: Amounts Falling Due Within One Year 7 (110,392 ) (116,498 )
NET CURRENT ASSETS (LIABILITIES) 32,536 66,660
TOTAL ASSETS LESS CURRENT LIABILITIES 104,272 112,932
Creditors: Amounts Falling Due After More Than One Year 8 (28,733 ) (20,368 )
PROVISIONS FOR LIABILITIES
Deferred Taxation (13,541 ) (8,683 )
NET ASSETS 61,998 83,881
CAPITAL AND RESERVES
Called up share capital 20 20
Income Statement 61,978 83,861
SHAREHOLDERS' FUNDS 61,998 83,881
Page 1
Page 2
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 Income Statement.
On behalf of the board
Mr M Figgett
Director
7 October 2024
The notes on pages 3 to 5 form part of these financial statements.
Page 2
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Notes to the Financial Statements
1. General Information
A.T.E.M. Limited is a private company, limited by shares, incorporated in England & Wales, registered number 08003891 . The registered office is Office 43, The Cobalt Building 1600 Eureka Park, Lower Pemberton, Ashford, Kent, TN25 4BF.
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.
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 20% Straight Line
Motor Vehicles 20% Straight Line
Computer Equipment 33.33% Straight Line
2.4. 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 income statement 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 income statement as incurred.
2.5. 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.
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.
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3. Average Number of Employees
Average number of employees, including directors, during the year was: 10 (2023: 16)
10 16
4. Tangible Assets
Plant & Machinery Motor Vehicles Computer Equipment Total
£ £ £ £
Cost
As at 1 April 2023 27,296 73,761 583 101,640
Additions 3,389 44,990 - 48,379
As at 31 March 2024 30,685 118,751 583 150,019
Depreciation
As at 1 April 2023 26,543 28,501 324 55,368
Provided during the period 548 22,250 117 22,915
As at 31 March 2024 27,091 50,751 441 78,283
Net Book Value
As at 31 March 2024 3,594 68,000 142 71,736
As at 1 April 2023 753 45,260 259 46,272
5. Stocks
2024 2023
£ £
Stocks of finished goods 4,250 4,000
6. Debtors
2024 2023
£ £
Due within one year
Trade debtors 88,887 114,292
Other debtors 5,656 9,137
94,543 123,429
7. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Net obligations under finance lease and hire purchase contracts 8,685 -
Trade creditors 24,454 30,346
Bank loans and overdrafts 12,296 12,296
Other creditors 21,037 5,136
Taxation and social security 43,920 68,720
110,392 116,498
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Page 5
8. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Net obligations under finance lease and hire purchase contracts 19,540 -
Bank loans 9,193 20,368
28,733 20,368
9. Obligations Under Finance Leases and Hire Purchase
2024 2023
£ £
The future minimum finance lease payments are as follows:
Not later than one year 8,685 -
Later than one year and not later than five years 19,540 -
28,225 -
28,225 -
10. Directors Advances, Credits and Guarantees
Included within creditors are the following loans to directors:
As at 1 April 2023 Amounts advanced Amounts repaid Amounts written off As at 31 March 2024
£ £ £ £ £
Mr Matthew Figgett 4,900 26,240 31,492 - (352 )
The above loan is unsecured, interest free and repayable on demand.
Dividends paid to directors
2024 2023
£ £
Mr M Figgett 15,000 35,700
Page 5