Acorah Software Products - Accounts Production 15.0.600 false true 31 January 2023 1 February 2022 false 1 February 2023 31 January 2024 31 January 2024 08839858 Mr Robert Pearson Mr Ashley Pearson Mrs Amanda Pearson iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 08839858 2023-01-31 08839858 2024-01-31 08839858 2023-02-01 2024-01-31 08839858 frs-core:CurrentFinancialInstruments 2024-01-31 08839858 frs-core:Non-currentFinancialInstruments 2024-01-31 08839858 frs-core:ComputerEquipment 2024-01-31 08839858 frs-core:ComputerEquipment 2023-02-01 2024-01-31 08839858 frs-core:ComputerEquipment 2023-01-31 08839858 frs-core:FurnitureFittings 2024-01-31 08839858 frs-core:FurnitureFittings 2023-02-01 2024-01-31 08839858 frs-core:FurnitureFittings 2023-01-31 08839858 frs-core:PlantMachinery 2024-01-31 08839858 frs-core:PlantMachinery 2023-02-01 2024-01-31 08839858 frs-core:PlantMachinery 2023-01-31 08839858 frs-core:ShareCapital 2024-01-31 08839858 frs-core:RetainedEarningsAccumulatedLosses 2024-01-31 08839858 frs-bus:PrivateLimitedCompanyLtd 2023-02-01 2024-01-31 08839858 frs-bus:FilletedAccounts 2023-02-01 2024-01-31 08839858 frs-bus:SmallEntities 2023-02-01 2024-01-31 08839858 frs-bus:AuditExempt-NoAccountantsReport 2023-02-01 2024-01-31 08839858 frs-bus:SmallCompaniesRegimeForAccounts 2023-02-01 2024-01-31 08839858 frs-bus:Director1 2023-02-01 2024-01-31 08839858 frs-bus:Director1 2023-01-31 08839858 frs-bus:Director1 2024-01-31 08839858 frs-bus:Director2 2023-02-01 2024-01-31 08839858 frs-bus:Director3 2023-02-01 2024-01-31 08839858 frs-countries:EnglandWales 2023-02-01 2024-01-31 08839858 2022-01-31 08839858 2023-01-31 08839858 2022-02-01 2023-01-31 08839858 frs-core:CurrentFinancialInstruments 2023-01-31 08839858 frs-core:Non-currentFinancialInstruments 2023-01-31 08839858 frs-core:ShareCapital 2023-01-31 08839858 frs-core:RetainedEarningsAccumulatedLosses 2023-01-31
Registered number: 08839858
Sedgley Control Systems Ltd
Unaudited Financial Statements
For The Year Ended 31 January 2024
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 08839858
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 1,740 2,568
1,740 2,568
CURRENT ASSETS
Stocks 5 77,343 78,408
Debtors 6 12,927 19,002
Cash at bank and in hand 9,720 2,335
99,990 99,745
Creditors: Amounts Falling Due Within One Year 7 (98,131 ) (98,038 )
NET CURRENT ASSETS (LIABILITIES) 1,859 1,707
TOTAL ASSETS LESS CURRENT LIABILITIES 3,599 4,275
Creditors: Amounts Falling Due After More Than One Year 8 (2,567 ) (3,843 )
NET ASSETS 1,032 432
CAPITAL AND RESERVES
Called up share capital 9 300 300
Profit and Loss Account 732 132
SHAREHOLDERS' FUNDS 1,032 432
Page 1
Page 2
For the year ending 31 January 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 Ashley Pearson
Director
26/10/2024
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
Sedgley Control Systems Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 08839858 . The registered office is 7 Ferndown Avenue, Sedgley, Dudley, West Midlands, DY3 3LQ.
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:
Plant & Machinery 25%- Reducing Balance
Fixtures & Fittings 25% - Straight Line
Computer Equipment 25% - Straight Line
2.4. 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.
2.5. 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 year 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 asset reflects 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: 2 (2023: 2)
2 2
4. Tangible Assets
Plant & Machinery Fixtures & Fittings Computer Equipment Total
£ £ £ £
Cost
As at 1 February 2023 2,270 541 3,014 5,825
Additions - 316 - 316
As at 31 January 2024 2,270 857 3,014 6,141
Depreciation
As at 1 February 2023 1,114 24 2,119 3,257
Provided during the period 289 194 661 1,144
As at 31 January 2024 1,403 218 2,780 4,401
Net Book Value
As at 31 January 2024 867 639 234 1,740
As at 1 February 2023 1,156 517 895 2,568
5. Stocks
2024 2023
£ £
Stock 8,241 5,683
Work in progress 69,102 72,725
77,343 78,408
6. Debtors
2024 2023
£ £
Due within one year
Trade debtors 12,905 15,774
Other taxes and social security 22 -
Directors' loan accounts - 3,228
12,927 19,002
7. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 885 36,131
Bank loans and overdrafts 1,488 1,524
Corporation tax 65,841 42,526
Other taxes and social security - 42
VAT 21,252 16,813
...CONTINUED
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Page 5
Other creditors 6,256 -
Accruals and deferred income 1,033 1,002
Directors' loan accounts 1,376 -
98,131 98,038
8. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Bank loans 2,567 3,843
9. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 300 300
10. Directors Advances, Credits and Guarantees
Included within Debtors are the following loans to directors:
As at 1 February 2023 Amounts advanced Amounts repaid Amounts written off As at 31 January 2024
£ £ £ £ £
Mr Ashley Pearson 3,198 - 3,198 - -
The above loans are unsecured, interest free and repayable on demand. They were repaid within 9 months of the company year end.
11. Dividends
2024 2023
£ £
On equity shares:
Interim dividend paid - 15,000
Final dividend paid 76,500 59,250
76,500 74,250
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