Acorah Software Products - Accounts Production 15.0.600 false true 31 May 2023 1 June 2022 false 1 June 2023 31 May 2024 31 May 2024 01879832 Mr Paul Martin Mrs Paula Martin iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 01879832 2023-05-31 01879832 2024-05-31 01879832 2023-06-01 2024-05-31 01879832 frs-core:CurrentFinancialInstruments 2024-05-31 01879832 frs-core:Non-currentFinancialInstruments 2024-05-31 01879832 frs-core:BetweenOneFiveYears 2024-05-31 01879832 frs-core:ComputerEquipment 2024-05-31 01879832 frs-core:ComputerEquipment 2023-06-01 2024-05-31 01879832 frs-core:ComputerEquipment 2023-05-31 01879832 frs-core:FurnitureFittings 2024-05-31 01879832 frs-core:FurnitureFittings 2023-06-01 2024-05-31 01879832 frs-core:FurnitureFittings 2023-05-31 01879832 frs-core:MotorVehicles 2024-05-31 01879832 frs-core:MotorVehicles 2023-06-01 2024-05-31 01879832 frs-core:MotorVehicles 2023-05-31 01879832 frs-core:PlantMachinery 2024-05-31 01879832 frs-core:PlantMachinery 2023-06-01 2024-05-31 01879832 frs-core:PlantMachinery 2023-05-31 01879832 frs-core:WithinOneYear 2024-05-31 01879832 frs-core:SharePremium 2024-05-31 01879832 frs-core:ShareCapital 2024-05-31 01879832 frs-core:RetainedEarningsAccumulatedLosses 2024-05-31 01879832 frs-bus:PrivateLimitedCompanyLtd 2023-06-01 2024-05-31 01879832 frs-bus:FilletedAccounts 2023-06-01 2024-05-31 01879832 frs-bus:SmallEntities 2023-06-01 2024-05-31 01879832 frs-bus:AuditExempt-NoAccountantsReport 2023-06-01 2024-05-31 01879832 frs-bus:SmallCompaniesRegimeForAccounts 2023-06-01 2024-05-31 01879832 frs-bus:Director1 2023-06-01 2024-05-31 01879832 frs-bus:CompanySecretary1 2023-06-01 2024-05-31 01879832 frs-core:CurrentFinancialInstruments 1 2024-05-31 01879832 frs-countries:EnglandWales 2023-06-01 2024-05-31 01879832 2022-05-31 01879832 2023-05-31 01879832 2022-06-01 2023-05-31 01879832 frs-core:CurrentFinancialInstruments 2023-05-31 01879832 frs-core:Non-currentFinancialInstruments 2023-05-31 01879832 frs-core:BetweenOneFiveYears 2023-05-31 01879832 frs-core:WithinOneYear 2023-05-31 01879832 frs-core:SharePremium 2023-05-31 01879832 frs-core:ShareCapital 2023-05-31 01879832 frs-core:RetainedEarningsAccumulatedLosses 2023-05-31 01879832 frs-core:CurrentFinancialInstruments 1 2023-05-31
Registered number: 01879832
Medway Plastering Co. Limited
Unaudited Financial Statements
For The Year Ended 31 May 2024
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—6
Page 1
Balance Sheet
Registered number: 01879832
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 193,775 271,152
193,775 271,152
CURRENT ASSETS
Stocks 5 2,068,000 1,250,000
Debtors 6 15,195 246,956
Cash at bank and in hand 4,388 53,005
2,087,583 1,549,961
Creditors: Amounts Falling Due Within One Year 7 (838,919 ) (291,743 )
NET CURRENT ASSETS (LIABILITIES) 1,248,664 1,258,218
TOTAL ASSETS LESS CURRENT LIABILITIES 1,442,439 1,529,370
Creditors: Amounts Falling Due After More Than One Year 8 (22,255 ) (46,747 )
PROVISIONS FOR LIABILITIES
Deferred Taxation (48,444 ) (67,788 )
NET ASSETS 1,371,740 1,414,835
CAPITAL AND RESERVES
Called up share capital 10 102 102
Share premium account 9,000 9,000
Profit and Loss Account 1,362,638 1,405,733
SHAREHOLDERS' FUNDS 1,371,740 1,414,835
Page 1
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For the year ending 31 May 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 Paul Martin
Director
15/10/2024
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
Medway Plastering Co. Limited is a private company, limited by shares, incorporated in England & Wales, registered number 01879832 . The registered office is 3 Prospect Place, Shellbank Lane, Bean, Dartford, Kent, DA2 8AX.
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 15% on reducing balance
Motor Vehicles 25% on reducing balance
Fixtures & Fittings 15% on reducing balance
Computer Equipment 15% on reducing balance
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.
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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 in respect of all timing differences that have originated but not reversed at the balance
sheet date.
Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from
those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that
have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the
timing difference.
Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they
will be recovered against the reversal of deferred tax liabilities or other future taxable profits.
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.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 5 (2023: 5)
5 5
4. Tangible Assets
Plant & Machinery Motor Vehicles Fixtures & Fittings Computer Equipment Total
£ £ £ £ £
Cost
As at 1 June 2023 421,468 355,079 105,279 78,898 960,724
Additions - 1,090 - 4,050 5,140
Disposals (37,191 ) (112,146 ) (101,799 ) (72,248 ) (323,384 )
As at 31 May 2024 384,277 244,023 3,480 10,700 642,480
Depreciation
As at 1 June 2023 270,966 249,578 98,782 70,246 689,572
Provided during the period 21,091 22,268 238 1,082 44,679
Disposals (27,280 ) (94,611 ) (96,895 ) (66,760 ) (285,546 )
As at 31 May 2024 264,777 177,235 2,125 4,568 448,705
Net Book Value
As at 31 May 2024 119,500 66,788 1,355 6,132 193,775
As at 1 June 2023 150,502 105,501 6,497 8,652 271,152
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5. Stocks
2024 2023
£ £
Work in progress 2,068,000 1,250,000
6. Debtors
2024 2023
£ £
Due within one year
Trade debtors 597 199,849
Prepayments and accrued income 11,433 34,517
Other debtors 201 201
VAT 2,964 12,389
15,195 246,956
7. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Net obligations under finance lease and hire purchase contracts 24,278 31,873
Trade creditors 109,455 90,564
Bank loans and overdrafts 199,861 94,207
Corporation tax 15,496 19,232
Other taxes and social security 3,888 690
Other creditors 17,218 2,073
Inter-company 192,838 -
Director's loan account 275,885 53,104
838,919 291,743
8. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Net obligations under finance lease and hire purchase contracts 22,255 46,747
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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 24,278 31,873
Later than one year and not later than five years 22,255 46,747
46,533 78,620
46,533 78,620
10. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 102 102
11. Related Party Transactions
Included in the Other Creditors is an amount of £192,638 (2023 - £0) owed by Urban Enhance Ltd, a company under the control of director Mr P Martin. No repayment terms have been set and no interest is to be charged. 
Included in the Other Creditors is an amount of £200 (2023 - £0) owed by Medlake Homes Ltd, a company under the control of director Mr P Martin. No repayment terms have been set and no interest is to be charged. 
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