Acorah Software Products - Accounts Production 15.0.600 false true 31 March 2023 1 April 2022 false 1 April 2023 31 March 2024 31 March 2024 06811409 Mr Dean Royal Mr Ryan Royal iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 06811409 2023-03-31 06811409 2024-03-31 06811409 2023-04-01 2024-03-31 06811409 frs-core:CurrentFinancialInstruments 2024-03-31 06811409 frs-core:FurnitureFittings 2024-03-31 06811409 frs-core:FurnitureFittings 2023-04-01 2024-03-31 06811409 frs-core:FurnitureFittings 2023-03-31 06811409 frs-core:LandBuildings frs-core:LeasedAssetsHeldAsLessee 2024-03-31 06811409 frs-core:LandBuildings frs-core:LeasedAssetsHeldAsLessee 2023-04-01 2024-03-31 06811409 frs-core:LandBuildings frs-core:LeasedAssetsHeldAsLessee 2023-03-31 06811409 frs-core:MotorVehicles 2024-03-31 06811409 frs-core:MotorVehicles 2023-04-01 2024-03-31 06811409 frs-core:MotorVehicles 2023-03-31 06811409 frs-core:PlantMachinery 2024-03-31 06811409 frs-core:PlantMachinery 2023-04-01 2024-03-31 06811409 frs-core:PlantMachinery 2023-03-31 06811409 frs-core:ShareCapital 2024-03-31 06811409 frs-core:RetainedEarningsAccumulatedLosses 2024-03-31 06811409 frs-bus:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 06811409 frs-bus:FilletedAccounts 2023-04-01 2024-03-31 06811409 frs-bus:SmallEntities 2023-04-01 2024-03-31 06811409 frs-bus:AuditExempt-NoAccountantsReport 2023-04-01 2024-03-31 06811409 frs-bus:SmallCompaniesRegimeForAccounts 2023-04-01 2024-03-31 06811409 frs-bus:Director1 2023-04-01 2024-03-31 06811409 frs-bus:Director2 2023-04-01 2024-03-31 06811409 frs-countries:EnglandWales 2023-04-01 2024-03-31 06811409 2022-03-31 06811409 2023-03-31 06811409 2022-04-01 2023-03-31 06811409 frs-core:CurrentFinancialInstruments 2023-03-31 06811409 frs-core:WithinOneYear 2023-03-31 06811409 frs-core:ShareCapital 2023-03-31 06811409 frs-core:RetainedEarningsAccumulatedLosses 2023-03-31 06811409 frs-core:CurrentFinancialInstruments 1 2023-03-31 06811409 frs-core:CurrentFinancialInstruments 2 2023-03-31
Registered number: 06811409
T5 Product Distribution Limited
Unaudited Financial Statements
For The Year Ended 31 March 2024
Unaudited Financial Statements
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 06811409
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 78,222 111,289
78,222 111,289
CURRENT ASSETS
Stocks 5 811,819 1,044,224
Debtors 6 473,145 451,056
Cash at bank and in hand 611,771 145,386
1,896,735 1,640,666
Creditors: Amounts Falling Due Within One Year 7 (675,796 ) (693,063 )
NET CURRENT ASSETS (LIABILITIES) 1,220,939 947,603
TOTAL ASSETS LESS CURRENT LIABILITIES 1,299,161 1,058,892
PROVISIONS FOR LIABILITIES
Deferred Taxation (9,843 ) (3,452 )
NET ASSETS 1,289,318 1,055,440
CAPITAL AND RESERVES
Called up share capital 9 100 100
Profit and Loss Account 1,289,218 1,055,340
SHAREHOLDERS' FUNDS 1,289,318 1,055,440
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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 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 Dean Royal
Director
16/10/2024
The notes on pages 3 to 5 form part of these financial statements.
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Page 3
Notes to the Financial Statements
1. General Information
T5 Product Distribution Limited is a private company, limited by shares, incorporated in England & Wales, registered number 06811409 . The registered office is Unit 2 Spectrum Business Park, Dawdon, Seaham, County Durham, SR7 7PP.
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. 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:
Leasehold 15% Straight Line
Plant & Machinery 20% Straight Line
Motor Vehicles 20% Straight Line
Fixtures & Fittings 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 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.
2.5. 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. Foreign Currencies
Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate ruling on the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
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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 year was: 15 (2023: 15)
15 15
4. Tangible Assets
Land & Property
Leasehold Plant & Machinery Motor Vehicles Fixtures & Fittings Total
£ £ £ £ £
Cost
As at 1 April 2023 1,632 70,488 210,095 2,326 284,541
Additions - - 10,000 - 10,000
Disposals - - (19,200 ) - (19,200 )
As at 31 March 2024 1,632 70,488 200,895 2,326 275,341
Depreciation
As at 1 April 2023 1,632 67,600 101,694 2,326 173,252
Provided during the period - 2,888 40,179 - 43,067
Disposals - - (19,200 ) - (19,200 )
As at 31 March 2024 1,632 70,488 122,673 2,326 197,119
...CONTINUED
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Page 5
Net Book Value
As at 31 March 2024 - - 78,222 - 78,222
As at 1 April 2023 - 2,888 108,401 - 111,289
5. Stocks
2024 2023
£ £
Stock 811,819 1,044,224
6. Debtors
2024 2023
£ £
Due within one year
Trade debtors 456,401 433,972
Prepayments and accrued income 16,744 17,084
473,145 451,056
7. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Net obligations under finance lease and hire purchase contracts - 1,514
Trade creditors 172,821 195,518
Corporation tax 196,397 67,444
Other taxes and social security 6,702 6,631
VAT 120,095 113,756
Net wages 28,369 -
Other creditors 1,183 10,996
Other creditors (1) - 2,356
Other creditors (2) - 885
Accruals and deferred income 7,506 10,758
Directors' loan accounts 142,723 283,205
675,796 693,063
8. Obligations Under Finance Leases and Hire Purchase
2024 2023
£ £
The future minimum finance lease payments are as follows:
Not later than one year - 1,514
9. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 100 100
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