Acorah Software Products - Accounts Production 15.0.600 false true true 31 March 2023 1 April 2022 false 1 April 2023 31 March 2024 31 March 2024 03340064 Mr Christopher McCarthy Mrs Jane McCarthy iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 03340064 2023-03-31 03340064 2024-03-31 03340064 2023-04-01 2024-03-31 03340064 frs-core:CurrentFinancialInstruments 2024-03-31 03340064 frs-core:Non-currentFinancialInstruments 2024-03-31 03340064 frs-core:ComputerEquipment 2024-03-31 03340064 frs-core:ComputerEquipment 2023-04-01 2024-03-31 03340064 frs-core:ComputerEquipment 2023-03-31 03340064 frs-core:MotorVehicles 2024-03-31 03340064 frs-core:MotorVehicles 2023-04-01 2024-03-31 03340064 frs-core:MotorVehicles 2023-03-31 03340064 frs-core:PlantMachinery 2024-03-31 03340064 frs-core:PlantMachinery 2023-04-01 2024-03-31 03340064 frs-core:PlantMachinery 2023-03-31 03340064 frs-core:WithinOneYear 2024-03-31 03340064 frs-core:ShareCapital 2024-03-31 03340064 frs-core:RetainedEarningsAccumulatedLosses 2024-03-31 03340064 frs-bus:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 03340064 frs-bus:FilletedAccounts 2023-04-01 2024-03-31 03340064 frs-bus:SmallEntities 2023-04-01 2024-03-31 03340064 frs-bus:AuditExempt-NoAccountantsReport 2023-04-01 2024-03-31 03340064 frs-bus:SmallCompaniesRegimeForAccounts 2023-04-01 2024-03-31 03340064 frs-bus:Director1 2023-04-01 2024-03-31 03340064 frs-bus:Director2 2023-04-01 2024-03-31 03340064 frs-countries:EnglandWales 2023-04-01 2024-03-31 03340064 2022-03-31 03340064 2023-03-31 03340064 2022-04-01 2023-03-31 03340064 frs-core:CurrentFinancialInstruments 2023-03-31 03340064 frs-core:Non-currentFinancialInstruments 2023-03-31 03340064 frs-core:BetweenOneFiveYears 2023-03-31 03340064 frs-core:WithinOneYear 2023-03-31 03340064 frs-core:ShareCapital 2023-03-31 03340064 frs-core:RetainedEarningsAccumulatedLosses 2023-03-31
Registered number: 03340064
McCarthy Services Limited
Financial Statements
For The Year Ended 31 March 2024
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 03340064
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 7,278 9,704
7,278 9,704
CURRENT ASSETS
Stocks 500 500
Debtors 5 23,319 11,874
Cash at bank and in hand 13 5,519
23,832 17,893
Creditors: Amounts Falling Due Within One Year 6 (100,057 ) (97,493 )
NET CURRENT ASSETS (LIABILITIES) (76,225 ) (79,600 )
TOTAL ASSETS LESS CURRENT LIABILITIES (68,947 ) (69,896 )
Creditors: Amounts Falling Due After More Than One Year 7 - (3,395 )
NET LIABILITIES (68,947 ) (73,291 )
CAPITAL AND RESERVES
Called up share capital 9 100 100
Profit and Loss Account (69,047 ) (73,391 )
SHAREHOLDERS' FUNDS (68,947) (73,291)
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 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 Christopher McCarthy
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
McCarthy Services Limited is a private company, limited by shares, incorporated in England & Wales, registered number 03340064 . The registered office is Adams & Moore House, Instone Road, Dartford, Kent, DA1 2AG.
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. Going Concern Disclosure
The directors have identified material uncertainties related to events or conditions that may cast significant
doubt about the company's ability to continue as a going concern, however, the going concern basis remains
appropriate.
2.3. Turnover
Turnover represents the value of services provided under contracts to the extent that there is a right to
consideration and is recorded at the value of the consideration due. Where a contract has only been partially
completed at the balance sheet date turnover represents the value of the service provided to date based on a
proportion of the total expected consideration at completion. Where payments are received from customers in
advance of services provided, the amounts are recorded as Deferred Income and included as part of Creditors
due within one year.
2.4. 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% on reducing balance
Motor Vehicles 25% on reducing balance
Computer Equipment 33% on cost
2.5. Leasing and Hire Purchase Contracts
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the
lease.
2.6. Stocks and Work in Progress
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and
slow moving items.
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.
Page 3
Page 4
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 Motor Vehicles Computer Equipment Total
£ £ £ £
Cost
As at 1 April 2023 19,418 17,500 233 37,151
As at 31 March 2024 19,418 17,500 233 37,151
Depreciation
As at 1 April 2023 19,349 7,865 233 27,447
Provided during the period 17 2,409 - 2,426
As at 31 March 2024 19,366 10,274 233 29,873
Net Book Value
As at 31 March 2024 52 7,226 - 7,278
As at 1 April 2023 69 9,635 - 9,704
5. Debtors
2024 2023
£ £
Due within one year
Trade debtors 16,996 6,612
Other debtors 6,323 5,262
23,319 11,874
6. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Net obligations under finance lease and hire purchase contracts 3,391 3,094
Trade creditors 2,839 1,889
Bank loans and overdrafts 9,583 9,839
Other creditors 81,118 79,913
Taxation and social security 3,126 2,758
100,057 97,493
7. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Net obligations under finance lease and hire purchase contracts - 3,395
Page 4
Page 5
8. Obligations Under Finance Leases and Hire Purchase
2024 2023
£ £
The future minimum finance lease payments are as follows:
Not later than one year 3,391 3,094
Later than one year and not later than five years - 3,395
3,391 6,489
3,391 6,489
9. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 100 100
Page 5