Acorah Software Products - Accounts Production 15.0.600 false true 28 February 2023 1 March 2022 false 1 March 2023 29 February 2024 29 February 2024 09459105 Mr Marc Price iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 09459105 2023-02-28 09459105 2024-02-29 09459105 2023-03-01 2024-02-29 09459105 frs-core:CurrentFinancialInstruments 2024-02-29 09459105 frs-core:Non-currentFinancialInstruments 2024-02-29 09459105 frs-core:BetweenOneFiveYears 2024-02-29 09459105 frs-core:ComputerEquipment 2024-02-29 09459105 frs-core:ComputerEquipment 2023-03-01 2024-02-29 09459105 frs-core:ComputerEquipment 2023-02-28 09459105 frs-core:FurnitureFittings 2024-02-29 09459105 frs-core:FurnitureFittings 2023-03-01 2024-02-29 09459105 frs-core:FurnitureFittings 2023-02-28 09459105 frs-core:MotorVehicles 2024-02-29 09459105 frs-core:MotorVehicles 2023-03-01 2024-02-29 09459105 frs-core:MotorVehicles 2023-02-28 09459105 frs-core:PlantMachinery 2024-02-29 09459105 frs-core:PlantMachinery 2023-03-01 2024-02-29 09459105 frs-core:PlantMachinery 2023-02-28 09459105 frs-core:WithinOneYear 2024-02-29 09459105 frs-core:ShareCapital 2024-02-29 09459105 frs-core:RetainedEarningsAccumulatedLosses 2024-02-29 09459105 frs-bus:PrivateLimitedCompanyLtd 2023-03-01 2024-02-29 09459105 frs-bus:FilletedAccounts 2023-03-01 2024-02-29 09459105 frs-bus:SmallEntities 2023-03-01 2024-02-29 09459105 frs-bus:AuditExempt-NoAccountantsReport 2023-03-01 2024-02-29 09459105 frs-bus:SmallCompaniesRegimeForAccounts 2023-03-01 2024-02-29 09459105 frs-bus:Director1 2023-03-01 2024-02-29 09459105 frs-countries:EnglandWales 2023-03-01 2024-02-29 09459105 2022-02-28 09459105 2023-02-28 09459105 2022-03-01 2023-02-28 09459105 frs-core:CurrentFinancialInstruments 2023-02-28 09459105 frs-core:Non-currentFinancialInstruments 2023-02-28 09459105 frs-core:BetweenOneFiveYears 2023-02-28 09459105 frs-core:WithinOneYear 2023-02-28 09459105 frs-core:ShareCapital 2023-02-28 09459105 frs-core:RetainedEarningsAccumulatedLosses 2023-02-28
Registered number: 09459105
M Price Roofing Limited
Unaudited Financial Statements
For The Year Ended 29 February 2024
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 09459105
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 30,081 24,880
30,081 24,880
CURRENT ASSETS
Work in Progress - 4,860
Debtors 5 177,973 151,026
Cash at bank and in hand - 6,482
177,973 162,368
Creditors: Amounts Falling Due Within One Year 6 (73,425 ) (50,057 )
NET CURRENT ASSETS (LIABILITIES) 104,548 112,311
TOTAL ASSETS LESS CURRENT LIABILITIES 134,629 137,191
Creditors: Amounts Falling Due After More Than One Year 7 (39,260 ) (49,346 )
PROVISIONS FOR LIABILITIES
Deferred Taxation (6,890 ) (5,909 )
NET ASSETS 88,479 81,936
CAPITAL AND RESERVES
Called up share capital 9 2 2
Profit and Loss Account 88,477 81,934
SHAREHOLDERS' FUNDS 88,479 81,936
Page 1
Page 2
For the year ending 29 February 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 Marc Price
Director
21/10/2024
The notes on pages 3 to 5 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
M Price Roofing Limited is a private company, limited by shares, incorporated in England & Wales, registered number 09459105 . The registered office is The Old Barn, Off Wood Street, Swanley, Kent, BR8 7PA.
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 15% on reducing balance
Fixtures & Fittings 15% on reducing balance
Computer Equipment 15% on reducing balance
2.4. 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: 2 (2023: 2)
2 2
Page 3
Page 4
4. Tangible Assets
Plant & Machinery Motor Vehicles Fixtures & Fittings Computer Equipment Total
£ £ £ £ £
Cost
As at 1 March 2023 1,583 35,965 - - 37,548
Additions 3,913 - 144 233 4,290
As at 29 February 2024 5,496 35,965 144 233 41,838
Depreciation
As at 1 March 2023 1,146 11,522 - - 12,668
Provided during the period 573 (1,541 ) 22 35 (911 )
As at 29 February 2024 1,719 9,981 22 35 11,757
Net Book Value
As at 29 February 2024 3,777 25,984 122 198 30,081
As at 1 March 2023 437 24,443 - - 24,880
5. Debtors
2024 2023
£ £
Due within one year
Trade debtors 86,440 60,796
Other debtors 1,433 1,220
VAT 6,810 2,301
Director's loan account 83,290 86,709
177,973 151,026
6. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Net obligations under finance lease and hire purchase contracts 4,680 4,680
Trade creditors 3,300 5,901
Bank loans and overdrafts 15,709 -
Corporation tax 33,021 21,165
Other taxes and social security 16,715 18,311
73,425 50,057
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Page 5
7. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Net obligations under finance lease and hire purchase contracts 11,555 16,235
Bank loans 27,705 33,111
39,260 49,346
8. Obligations Under Finance Leases and Hire Purchase
2024 2023
£ £
The future minimum finance lease payments are as follows:
Not later than one year 4,680 4,680
Later than one year and not later than five years 11,555 16,235
16,235 20,915
16,235 20,915
9. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 2 2
10. Related Party Transactions
Included in other debtors is an amount of £107,890 (£86,709 in 2023), owed to the company by the director Mr M Price. This loan is interest free and no repayment term have been agreed.
Page 5