Acorah Software Products - Accounts Production 15.0.400 false true 31 October 2022 30 October 2021 false 1 November 2022 31 October 2023 31 October 2023 04066149 Mr Scott Thompson Mr Eden Thompson Ms Lynn Thompson iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 04066149 2022-10-31 04066149 2023-10-31 04066149 2022-11-01 2023-10-31 04066149 frs-core:CurrentFinancialInstruments 2023-10-31 04066149 frs-core:Non-currentFinancialInstruments 2023-10-31 04066149 frs-core:ComputerEquipment 2023-10-31 04066149 frs-core:ComputerEquipment 2022-11-01 2023-10-31 04066149 frs-core:ComputerEquipment 2022-10-31 04066149 frs-core:FurnitureFittings 2023-10-31 04066149 frs-core:FurnitureFittings 2022-11-01 2023-10-31 04066149 frs-core:FurnitureFittings 2022-10-31 04066149 frs-core:NetGoodwill 2023-10-31 04066149 frs-core:NetGoodwill 2022-11-01 2023-10-31 04066149 frs-core:NetGoodwill 2022-10-31 04066149 frs-core:LandBuildings frs-core:LeasedAssetsHeldAsLessee 2023-10-31 04066149 frs-core:LandBuildings frs-core:LeasedAssetsHeldAsLessee 2022-11-01 2023-10-31 04066149 frs-core:LandBuildings frs-core:LeasedAssetsHeldAsLessee 2022-10-31 04066149 frs-core:LandBuildings frs-core:OwnedOrFreeholdAssets 2023-10-31 04066149 frs-core:LandBuildings frs-core:OwnedOrFreeholdAssets 2022-11-01 2023-10-31 04066149 frs-core:LandBuildings frs-core:OwnedOrFreeholdAssets 2022-10-31 04066149 frs-core:MotorVehicles 2023-10-31 04066149 frs-core:MotorVehicles 2022-11-01 2023-10-31 04066149 frs-core:MotorVehicles 2022-10-31 04066149 frs-core:PlantMachinery 2023-10-31 04066149 frs-core:PlantMachinery 2022-11-01 2023-10-31 04066149 frs-core:PlantMachinery 2022-10-31 04066149 frs-core:ShareCapital 2023-10-31 04066149 frs-core:RetainedEarningsAccumulatedLosses 2023-10-31 04066149 frs-bus:PrivateLimitedCompanyLtd 2022-11-01 2023-10-31 04066149 frs-bus:FilletedAccounts 2022-11-01 2023-10-31 04066149 frs-bus:SmallEntities 2022-11-01 2023-10-31 04066149 frs-bus:AuditExempt-NoAccountantsReport 2022-11-01 2023-10-31 04066149 frs-bus:SmallCompaniesRegimeForAccounts 2022-11-01 2023-10-31 04066149 frs-bus:Director1 2022-11-01 2023-10-31 04066149 frs-bus:Director1 2022-10-31 04066149 frs-bus:Director1 2023-10-31 04066149 frs-bus:Director2 2022-11-01 2023-10-31 04066149 frs-bus:Director2 2022-10-31 04066149 frs-bus:Director2 2023-10-31 04066149 frs-bus:CompanySecretary1 2022-11-01 2023-10-31 04066149 frs-core:CurrentFinancialInstruments 1 2023-10-31 04066149 frs-core:CurrentFinancialInstruments 2 2023-10-31 04066149 frs-countries:EnglandWales 2022-11-01 2023-10-31 04066149 2021-10-29 04066149 2022-10-31 04066149 2021-10-30 2022-10-31 04066149 frs-core:CurrentFinancialInstruments 2022-10-31 04066149 frs-core:Non-currentFinancialInstruments 2022-10-31 04066149 frs-core:ShareCapital 2022-10-31 04066149 frs-core:RetainedEarningsAccumulatedLosses 2022-10-31 04066149 frs-core:CurrentFinancialInstruments 1 2022-10-31 04066149 frs-core:CurrentFinancialInstruments 2 2022-10-31
Registered number: 04066149
Thompson Audio Visual Communications Limited
Unaudited Financial Statements
For The Year Ended 31 October 2023
DKR Chartered Accountants
36 Lichfield Street
Walsall
West Midlands
WS1 1TJ
Unaudited Financial Statements
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—6
Page 1
Balance Sheet
Registered number: 04066149
2023 2022
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 5 1,018,445 1,053,744
1,018,445 1,053,744
CURRENT ASSETS
Stocks 6 495,000 360,000
Debtors 7 3,397,931 2,949,861
Investments 8 500,102 500,102
Cash at bank and in hand 169,293 509,219
4,562,326 4,319,182
Creditors: Amounts Falling Due Within One Year 9 (2,757,437 ) (2,846,510 )
NET CURRENT ASSETS (LIABILITIES) 1,804,889 1,472,672
TOTAL ASSETS LESS CURRENT LIABILITIES 2,823,334 2,526,416
Creditors: Amounts Falling Due After More Than One Year 10 (17,374 ) (27,459 )
NET ASSETS 2,805,960 2,498,957
CAPITAL AND RESERVES
Called up share capital 11 100 100
Profit and Loss Account 2,805,860 2,498,857
SHAREHOLDERS' FUNDS 2,805,960 2,498,957
Page 1
Page 2
For the year ending 31 October 2023 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 Scott Thompson
Director
30th October 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
Thompson Audio Visual Communications Limited is a private company, limited by shares, incorporated in England & Wales, registered number 04066149 . The registered office is Thompson House, Gorsebrook Road, Wolverhampton, WV10 6JD.
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. Intangible Fixed Assets and Amortisation - Goodwill
Goodwill is the difference between amounts paid on the acquisition of a business and the fair value of the separable net assets. It is amortised to profit and loss account over its estimated economic life of 6 years.
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:
Freehold NA
Leasehold 20% Straight Line Method
Plant & Machinery 20% on Reducing Balance
Motor Vehicles 33% Straight Line Method
Fixtures & Fittings 20% on Reducing Balance
Computer Equipment 25% Straight Line Method
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. 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.
...CONTINUED
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2.6. Taxation - continued
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.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 55 (2022: 49)
55 49
4. Intangible Assets
Goodwill
£
Cost
As at 1 November 2022 500,000
As at 31 October 2023 500,000
Amortisation
As at 1 November 2022 500,000
As at 31 October 2023 500,000
Net Book Value
As at 31 October 2023 -
As at 1 November 2022 -
5. Tangible Assets
Land & Property
Freehold Leasehold Plant & Machinery Motor Vehicles
£ £ £ £
Cost
As at 1 November 2022 503,176 740,844 36,822 122,000
Additions - - - -
As at 31 October 2023 503,176 740,844 36,822 122,000
Depreciation
As at 1 November 2022 - 226,558 20,914 102,666
Provided during the period - 13,440 7,368 19,334
As at 31 October 2023 - 239,998 28,282 122,000
Net Book Value
As at 31 October 2023 503,176 500,846 8,540 -
As at 1 November 2022 503,176 514,286 15,908 19,334
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Fixtures & Fittings Computer Equipment Total
£ £ £
Cost
As at 1 November 2022 21,367 115,969 1,540,178
Additions 825 5,852 6,677
As at 31 October 2023 22,192 121,821 1,546,855
Depreciation
As at 1 November 2022 20,610 115,686 486,434
Provided during the period 642 1,192 41,976
As at 31 October 2023 21,252 116,878 528,410
Net Book Value
As at 31 October 2023 940 4,943 1,018,445
As at 1 November 2022 757 283 1,053,744
6. Stocks
2023 2022
£ £
Work in progress 495,000 360,000
7. Debtors
2023 2022
£ £
Due within one year
Trade debtors 1,637,533 1,732,486
Prepayments and accrued income 548,000 230,000
Other debtors 1,093,767 889,044
Deferred tax current asset 80,423 53,472
Directors' loan accounts 38,208 44,859
3,397,931 2,949,861
8. Current Asset Investments
2023 2022
£ £
Shares in subsidiaries 500,102 500,102
500,102 500,102
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9. Creditors: Amounts Falling Due Within One Year
2023 2022
£ £
Trade creditors 1,140,321 1,265,187
Bank loans and overdrafts 10,085 9,830
Corporation tax (25,332 ) -
Other taxes and social security 59,527 257,421
Net wages - 5,819
Other creditors 1,438,315 1,203,472
Pensions control 5,707 4,381
Shareholder loan 8,450 8,450
Accruals and deferred income 120,364 91,950
2,757,437 2,846,510
10. Creditors: Amounts Falling Due After More Than One Year
2023 2022
£ £
Bank loans 17,374 27,459
17,374 27,459
11. Share Capital
2023 2022
£ £
Allotted, Called up and fully paid 100 100
12. Directors Advances, Credits and Guarantees
Included within Debtors are the following loans to directors:
As at 1 November 2022 Amounts advanced Amounts repaid Amounts written off As at 31 October 2023
£ £ £ £ £
Mr Scott Thompson 4,779 3,682 4,779 - 3,682
Mr Eden Thompson 40,080 34,526 40,080 - 34,526
The above loan is unsecured, interest free and repayable on demand.
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