Acorah Software Products - Accounts Production 16.0.110 false true 28 February 2023 1 March 2022 false 1 March 2023 29 February 2024 29 February 2024 02641205 T Glew P Igo iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 02641205 2023-02-28 02641205 2024-02-29 02641205 2023-03-01 2024-02-29 02641205 frs-core:CurrentFinancialInstruments 2024-02-29 02641205 frs-core:Non-currentFinancialInstruments 2024-02-29 02641205 frs-core:BetweenOneFiveYears 2024-02-29 02641205 frs-core:MotorVehicles 2024-02-29 02641205 frs-core:MotorVehicles 2023-03-01 2024-02-29 02641205 frs-core:MotorVehicles 2023-02-28 02641205 frs-core:PlantMachinery 2024-02-29 02641205 frs-core:PlantMachinery 2023-03-01 2024-02-29 02641205 frs-core:PlantMachinery 2023-02-28 02641205 frs-core:WithinOneYear 2024-02-29 02641205 frs-core:CapitalRedemptionReserve 2024-02-29 02641205 frs-core:ShareCapital 2024-02-29 02641205 frs-core:RetainedEarningsAccumulatedLosses 2024-02-29 02641205 frs-bus:PrivateLimitedCompanyLtd 2023-03-01 2024-02-29 02641205 frs-bus:FilletedAccounts 2023-03-01 2024-02-29 02641205 frs-bus:SmallEntities 2023-03-01 2024-02-29 02641205 frs-bus:AuditExemptWithAccountantsReport 2023-03-01 2024-02-29 02641205 frs-bus:SmallCompaniesRegimeForAccounts 2023-03-01 2024-02-29 02641205 frs-bus:Director1 2023-03-01 2024-02-29 02641205 frs-bus:Director2 2023-03-01 2024-02-29 02641205 frs-countries:EnglandWales 2023-03-01 2024-02-29 02641205 2022-02-28 02641205 2023-02-28 02641205 2022-03-01 2023-02-28 02641205 frs-core:CurrentFinancialInstruments 2023-02-28 02641205 frs-core:Non-currentFinancialInstruments 2023-02-28 02641205 frs-core:BetweenOneFiveYears 2023-02-28 02641205 frs-core:WithinOneYear 2023-02-28 02641205 frs-core:CapitalRedemptionReserve 2023-02-28 02641205 frs-core:ShareCapital 2023-02-28 02641205 frs-core:RetainedEarningsAccumulatedLosses 2023-02-28
Registered number: 02641205
Professional Preparation Contractors U.K. Limited
Unaudited Financial Statements
For The Year Ended 29 February 2024
Contents
Page
Accountant's Report 1
Balance Sheet 2—3
Notes to the Financial Statements 4—7
Page 1
Accountant's Report
Report to the directors on the preparation of the unaudited statutory accounts of Professional Preparation Contractors U.K. Limited for the year ended 29 February 2024
To assist you to fulfil your duties under the Companies Act 2006, I have prepared for your approval the accounts of Professional Preparation Contractors U.K. Limited which comprise the Profit and Loss Account, the Balance Sheet and the related notes, from the company’s accounting records and from information and explanations you have given us.
As a practising member of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at http://www.accaglobal.com/en/member/professional-standards/rules-standards/acca-rulebook.html.
This report is made to the directors of Professional Preparation Contractors U.K. Limited , as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the accounts of Professional Preparation Contractors U.K. Limited and state those matters that we have agreed to state to the directors of Professional Preparation Contractors U.K. Limited , as a body, in this report in accordance with the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/content/dam/ACCA_Global/Technical/fact/technical-factsheet-163.pdf. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Professional Preparation Contractors U.K. Limited and its directors as a body for our work or for this report.
It is your duty to ensure that Professional Preparation Contractors U.K. Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit or loss of Professional Preparation Contractors U.K. Limited . You consider that Professional Preparation Contractors U.K. Limited is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit or a review of the accounts of Professional Preparation Contractors U.K. Limited . For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the financial statements.
Signed
30/10/2024
MPU Associates Limited
2 Water Street
Stamford
Lincs
PE9 2NJ
Page 1
Page 2
Balance Sheet
Registered number: 02641205
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 216,564 237,999
216,564 237,999
CURRENT ASSETS
Stocks 5 487,088 389,703
Debtors 6 284,970 205,696
Cash at bank and in hand 9,216 34,737
781,274 630,136
Creditors: Amounts Falling Due Within One Year 7 (484,953 ) (413,146 )
NET CURRENT ASSETS (LIABILITIES) 296,321 216,990
TOTAL ASSETS LESS CURRENT LIABILITIES 512,885 454,989
Creditors: Amounts Falling Due After More Than One Year 8 (131,786 ) (169,280 )
PROVISIONS FOR LIABILITIES
Deferred Taxation (51,211 ) (42,851 )
NET ASSETS 329,888 242,858
CAPITAL AND RESERVES
Called up share capital 10 1,000 1,000
Capital redemption reserve 30 30
Profit and Loss Account 328,858 241,828
SHAREHOLDERS' FUNDS 329,888 242,858
Page 2
Page 3
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 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
T Glew
Director
30/10/2024
The notes on pages 4 to 7 form part of these financial statements.
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Page 4
Notes to the Financial Statements
1. General Information
Professional Preparation Contractors U.K. Limited is a private company, limited by shares, incorporated in England & Wales, registered number 02641205 . The registered office is Preparation House, Deacon Road, Lincoln, Lincolnshire, LN2 4JB.
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 15 % Reducing Balance
Motor Vehicles 25% 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 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.
2.7. Government Grant
Government grants are recognised in the profit and loss account in an appropriate manner that matches them with the expenditure towards which they are intended to contribute.
Grants for immediate financial support or to cover costs already incurred are recognised immediately in the profit and loss account. Grants towards general activities of the entity over a specific period are recognised in the profit and loss account over that period.
Grants towards fixed assets are recognised over the expected useful lives of the related assets and are treated as deferred income and released to the profit and loss account over the useful life of the asset concerned.
All grants in the profit and loss account are recognised when all conditions for receipt have been complied with.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 22 (2023: 22)
22 22
4. Tangible Assets
Plant & Machinery Motor Vehicles Total
£ £ £
Cost
As at 1 March 2023 239,754 285,210 524,964
Additions - 35,900 35,900
Disposals - (30,720 ) (30,720 )
As at 29 February 2024 239,754 290,390 530,144
Depreciation
As at 1 March 2023 145,546 141,419 286,965
Provided during the period 14,131 35,948 50,079
Disposals - (23,464 ) (23,464 )
As at 29 February 2024 159,677 153,903 313,580
Net Book Value
As at 29 February 2024 80,077 136,487 216,564
As at 1 March 2023 94,208 143,791 237,999
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5. Stocks
2024 2023
£ £
Stock 453,883 356,263
Work in progress 33,205 33,440
487,088 389,703
6. Debtors
2024 2023
£ £
Due within one year
Trade debtors 223,544 158,988
Prepayments and accrued income 3,285 9,371
Corporation tax recoverable assets - 626
VAT - 8,602
Directors' loan accounts 58,141 28,109
284,970 205,696
7. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Net obligations under finance lease and hire purchase contracts 29,403 24,245
Trade creditors 108,151 70,125
Bank loans and overdrafts 153,800 115,180
Corporation tax 21,588 -
Other taxes and social security 8,221 9,600
VAT 20,730 -
Other creditors 4,671 1,693
Accruals and deferred income 7,699 35,925
Amounts owed to group undertakings 130,690 156,378
484,953 413,146
8. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Net obligations under finance lease and hire purchase contracts 83,945 79,644
Bank loans 47,841 89,636
131,786 169,280
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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 29,403 24,245
Later than one year and not later than five years 83,945 79,644
113,348 103,889
113,348 103,889
10. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 1,000 1,000
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