Acorah Software Products - Accounts Production 15.0.600 false true 28 February 2023 1 March 2022 false 1 March 2023 28 February 2024 28 February 2024 06923698 Mr M Purves Mr P Way iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 06923698 2023-02-28 06923698 2024-02-28 06923698 2023-03-01 2024-02-28 06923698 frs-core:CurrentFinancialInstruments 2024-02-28 06923698 frs-core:BetweenOneFiveYears 2024-02-28 06923698 frs-core:ComputerEquipment 2024-02-28 06923698 frs-core:ComputerEquipment 2023-03-01 2024-02-28 06923698 frs-core:ComputerEquipment 2023-02-28 06923698 frs-core:FurnitureFittings 2024-02-28 06923698 frs-core:FurnitureFittings 2023-03-01 2024-02-28 06923698 frs-core:FurnitureFittings 2023-02-28 06923698 frs-core:NetGoodwill 2024-02-28 06923698 frs-core:NetGoodwill 2023-03-01 2024-02-28 06923698 frs-core:NetGoodwill 2023-02-28 06923698 frs-core:LandBuildings frs-core:LeasedAssetsHeldAsLessee 2024-02-28 06923698 frs-core:LandBuildings frs-core:LeasedAssetsHeldAsLessee 2023-03-01 2024-02-28 06923698 frs-core:LandBuildings frs-core:LeasedAssetsHeldAsLessee 2023-02-28 06923698 frs-core:MoreThanFiveYears 2024-02-28 06923698 frs-core:WithinOneYear 2024-02-28 06923698 frs-core:ShareCapital 2024-02-28 06923698 frs-core:RetainedEarningsAccumulatedLosses 2024-02-28 06923698 frs-bus:PrivateLimitedCompanyLtd 2023-03-01 2024-02-28 06923698 frs-bus:FilletedAccounts 2023-03-01 2024-02-28 06923698 frs-bus:SmallEntities 2023-03-01 2024-02-28 06923698 frs-bus:AuditExempt-NoAccountantsReport 2023-03-01 2024-02-28 06923698 frs-bus:SmallCompaniesRegimeForAccounts 2023-03-01 2024-02-28 06923698 frs-bus:Director1 2023-03-01 2024-02-28 06923698 frs-bus:Director2 2023-03-01 2024-02-28 06923698 frs-countries:EnglandWales 2023-03-01 2024-02-28 06923698 2022-02-28 06923698 2023-02-28 06923698 2022-03-01 2023-02-28 06923698 frs-core:CurrentFinancialInstruments 2023-02-28 06923698 frs-core:BetweenOneFiveYears 2023-02-28 06923698 frs-core:MoreThanFiveYears 2023-02-28 06923698 frs-core:WithinOneYear 2023-02-28 06923698 frs-core:ShareCapital 2023-02-28 06923698 frs-core:RetainedEarningsAccumulatedLosses 2023-02-28
MPS Guildford Limited
Unaudited Financial Statements
For The Year Ended 28 February 2024
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 06923698
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 5 53,329 51,288
53,329 51,288
CURRENT ASSETS
Stocks 6 3,948 3,424
Debtors 7 16,873 54,963
Cash at bank and in hand 53,044 45,976
73,865 104,363
Creditors: Amounts Falling Due Within One Year 8 (96,246 ) (76,481 )
NET CURRENT ASSETS (LIABILITIES) (22,381 ) 27,882
TOTAL ASSETS LESS CURRENT LIABILITIES 30,948 79,170
PROVISIONS FOR LIABILITIES
Deferred Taxation (4,848 ) (1,955 )
NET ASSETS 26,100 77,215
CAPITAL AND RESERVES
Called up share capital 9 5 5
Profit and Loss Account 26,095 77,210
SHAREHOLDERS' FUNDS 26,100 77,215
Page 1
Page 2
For the year ending 28 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
Mr M Purves
Director
7 November 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
MPS Guildford Limited is a private company, limited by shares, incorporated in England & Wales, registered number 06923698 . The registered office is 46 Chertsey Street, Guildford, Surrey, GU1 4HD.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements are prepared under the historical cost convention and in accordance with the FRS 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. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised on a point of sale basis.
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 10 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:
Leasehold Straight line of the length of the lease
Fixtures & Fittings Straight line over 4 years
Computer Equipment Straight line over 3 years
2.5. Stocks and Work in Progress
Stocks are valued at the lower of cost and net realisable value, after making due provision for wastage and slow moving items.
2.6. Financial Instruments
Basic financial instruments are recognised at amortised cost, except for investments in non-convertible preference and non-puttable ordinary shares, which are measured at fair value, with changes recognised in profit or loss.

Derivative financial instruments, where applicable, are initially recorded at cost and thereafter at fair value with changes recognised in profit or loss.
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 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.
Page 3
Page 4
3. Average Number of Employees
Average number of employees, including directors, during the year was: 10 (2023: 10)
10 10
4. Intangible Assets
Goodwill
£
Cost
As at 1 March 2023 10,500
Disposals (10,500)
As at 28 February 2024 -
Amortisation
As at 1 March 2023 10,500
Disposals (10,500)
As at 28 February 2024 -
Net Book Value
As at 28 February 2024 -
As at 1 March 2023 -
5. Tangible Assets
Land & Property
Leasehold Fixtures & Fittings Computer Equipment Total
£ £ £ £
Cost
As at 1 March 2023 96,205 44,585 2,656 143,446
Additions - 15,799 - 15,799
As at 28 February 2024 96,205 60,384 2,656 159,245
Depreciation
As at 1 March 2023 62,486 28,319 1,353 92,158
Provided during the period 4,581 8,497 680 13,758
As at 28 February 2024 67,067 36,816 2,033 105,916
Net Book Value
As at 28 February 2024 29,138 23,568 623 53,329
As at 1 March 2023 33,719 16,266 1,303 51,288
6. Stocks
2024 2023
£ £
Stock 3,948 3,424
Page 4
Page 5
7. Debtors
2024 2023
£ £
Due within one year
Other debtors 16,873 54,963
8. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 17,207 12,372
Other creditors 63,943 27,276
Taxation and social security 15,096 36,833
96,246 76,481
Included within Other creditors above are unsecured loans from the directors of £51,918 (2023 - £41,612). These loans are interest free and repayable on demand / These loans are repayable on demand, and interest is charged at a rate of up to 20% per annum, at the discretion of the directors. 
9. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 5 5
10. Other Commitments
The total of future minimum lease payments under non-cancellable operating leases are as following:
2024 2023
£ £
Not later than one year 53,000 53,000
Later than one year and not later than five years 212,000 212,000
Later than five years 92,750 145,750
357,750 410,750
Page 5