Acorah Software Products - Accounts Production 16.0.110 false true 28 February 2023 1 March 2022 true No description of principal activity 1 March 2023 29 February 2024 29 February 2024 09473329 Mr Eddie Pollit Mrs Tracy Pollit iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 09473329 2023-02-28 09473329 2024-02-29 09473329 2023-03-01 2024-02-29 09473329 frs-core:CurrentFinancialInstruments 2024-02-29 09473329 frs-core:Non-currentFinancialInstruments 2024-02-29 09473329 frs-core:BetweenOneFiveYears 2024-02-29 09473329 frs-core:ComputerEquipment 2024-02-29 09473329 frs-core:ComputerEquipment 2023-03-01 2024-02-29 09473329 frs-core:ComputerEquipment 2023-02-28 09473329 frs-core:FurnitureFittings 2024-02-29 09473329 frs-core:FurnitureFittings 2023-03-01 2024-02-29 09473329 frs-core:FurnitureFittings 2023-02-28 09473329 frs-core:NetGoodwill 2024-02-29 09473329 frs-core:NetGoodwill 2023-03-01 2024-02-29 09473329 frs-core:NetGoodwill 2023-02-28 09473329 frs-core:LandBuildings frs-core:OwnedOrFreeholdAssets 2024-02-29 09473329 frs-core:LandBuildings frs-core:OwnedOrFreeholdAssets 2023-03-01 2024-02-29 09473329 frs-core:LandBuildings frs-core:OwnedOrFreeholdAssets 2023-02-28 09473329 frs-core:MotorVehicles 2024-02-29 09473329 frs-core:MotorVehicles 2023-03-01 2024-02-29 09473329 frs-core:MotorVehicles 2023-02-28 09473329 frs-core:PlantMachinery 2024-02-29 09473329 frs-core:PlantMachinery 2023-03-01 2024-02-29 09473329 frs-core:PlantMachinery 2023-02-28 09473329 frs-core:ShareCapital 2024-02-29 09473329 frs-core:RetainedEarningsAccumulatedLosses 2024-02-29 09473329 frs-bus:PrivateLimitedCompanyLtd 2023-03-01 2024-02-29 09473329 frs-bus:FullAccounts 2023-03-01 2024-02-29 09473329 frs-bus:SmallEntities 2023-03-01 2024-02-29 09473329 frs-bus:AuditExemptWithAccountantsReport 2023-03-01 2024-02-29 09473329 frs-bus:SmallCompaniesRegimeForAccounts 2023-03-01 2024-02-29 09473329 frs-bus:SmallCompaniesRegimeForDirectorsReport 2023-03-01 2024-02-29 09473329 frs-bus:Director1 2023-03-01 2024-02-29 09473329 frs-bus:Director2 2023-03-01 2024-02-29 09473329 frs-countries:EnglandWales 2023-03-01 2024-02-29 09473329 2022-02-28 09473329 2023-02-28 09473329 2022-03-01 2023-02-28 09473329 frs-core:CurrentFinancialInstruments 2023-02-28 09473329 frs-core:Non-currentFinancialInstruments 2023-02-28 09473329 frs-core:BetweenOneFiveYears 2023-02-28 09473329 frs-core:ShareCapital 2023-02-28 09473329 frs-core:RetainedEarningsAccumulatedLosses 2023-02-28
Registered number: 09473329
Eddie Pollit Grab Hire Ltd
Directors' Report and
Unaudited Financial Statements
For The Year Ended 29 February 2024
Cranford Business Services Limited
Old Stone
Cranford
Bideford
Devon
EX39 5QW
Contents
Page
Company Information 1
Directors' Report 2
Accountants' Report 3
Profit and Loss Account 4
Balance Sheet 5—6
Notes to the Financial Statements 7—11
Page 1
Company Information
Directors Mr Eddie Pollit
Mrs Tracy Pollit
Company Number 09473329
Registered Office 8 Mount Raleigh Avenue
Bideford
Devon
EX39 3NR
Business 8 Mount Raleigh Avenue
Bideford
Devon
EX39 3NR
Accountants Cranford Business Services Limited
Old Stone
Cranford
Bideford
Devon
EX39 5QW
Page 1
Page 2
Directors' Report
The directors present their report and the financial statements for the year ended 29 February 2024.
Directors
The directors who held office during the year were as follows:
Mr Eddie Pollit
Mrs Tracy Pollit
Statement of Directors' Responsibilities
The directors are responsible for preparing the Directors' Report and the financial statements in accordance with applicable law and regulations.
Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing the financial statements the directors are required to:
  • select suitable accounting policies and then apply them consistently;
  • make judgments and accounting estimates that are reasonable and prudent;
  • prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.
The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
The directors are responsible for the maintenance and integrity of the corporate and financial information included on the company's website. Legislation in the United Kingdom governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.
Small Company Rules
This report has been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.
On behalf of the board
Mrs Tracy Pollit
Director
28th October 2024
Page 2
Page 3
Accountants' Report
In accordance with the engagement letter dated , and in order to assist you to fulfil your duties under the Companies Act 2006, we have compiled the financial statements of the company from the accounting records and information and explanations you have given to us.
This report is made to the directors in accordance with the terms of our engagement. Our work has been undertaken to prepare for approval by the directors the financial statements that we have been engaged to compile, to report to the directors that we have done so, and to state those matters that we have agreed to state to them in this report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the Company and the Company's directors for our work or for this report.
You have acknowledged on the balance sheet as at year ended 29 February 2024 your duty to ensure that the company has kept proper accounting records and to prepare financial statements that give a true and fair view under the Companies Act 2006. You consider that the company is exempt from the statutory requirement for an audit for the year.
We have not been instructed to carry out an audit of the financial statements. 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
28th October 2024
Cranford Business Services Limited
Old Stone
Cranford
Bideford
Devon
EX39 5QW
Page 3
Page 4
Profit and Loss Account
2024 2023
Notes £ £
TURNOVER 1,168,092 899,439
Cost of sales (409,305 ) (344,317 )
GROSS PROFIT 758,787 555,122
Administrative expenses (428,647 ) (305,801 )
OPERATING PROFIT 330,140 249,321
Profit on disposal of fixed assets 800 -
Other interest receivable and similar income 1,500 84
Interest payable and similar charges (12,838 ) (11,789 )
PROFIT BEFORE TAXATION 319,602 237,616
Tax on Profit (89,188 ) (10,896 )
PROFIT AFTER TAXATION BEING PROFIT FOR THE FINANCIAL YEAR 230,414 226,720
The notes on pages 7 to 11 form part of these financial statements.
Page 4
Page 5
Balance Sheet
2024 2023
Notes £ £ £ £
FIXED ASSETS
Intangible Assets 4 3,564 4,455
Tangible Assets 5 887,747 686,568
891,311 691,023
CURRENT ASSETS
Debtors 6 223,384 340,082
Cash at bank and in hand 369,649 203,190
593,033 543,272
Creditors: Amounts Falling Due Within One Year 7 (134,381 ) (59,185 )
NET CURRENT ASSETS (LIABILITIES) 458,652 484,087
TOTAL ASSETS LESS CURRENT LIABILITIES 1,349,963 1,175,110
Creditors: Amounts Falling Due After More Than One Year 8 (227,171 ) (259,732 )
NET ASSETS 1,122,792 915,378
CAPITAL AND RESERVES
Called up share capital 10 22 22
Profit and Loss Account 1,122,770 915,356
SHAREHOLDERS' FUNDS 1,122,792 915,378
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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 in accordance with the provisions applicable to companies subject to the small companies regime.
On behalf of the board
Mrs Tracy Pollit
Director
28th October 2024
The notes on pages 7 to 11 form part of these financial statements.
Page 6
Page 7
Notes to the Financial Statements
1. General Information
Eddie Pollit Grab Hire Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 09473329 . The registered office is 8 Mount Raleigh Avenue, Bideford, Devon, EX39 3NR.
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 .... 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 0%
Plant & Machinery 20%
Motor Vehicles 20%
Fixtures & Fittings 25%
Computer Equipment 25%
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2.5. 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.
2.6. 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.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 7 (2023: 5)
7 5
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4. Intangible Assets
Goodwill
£
Cost
As at 1 March 2023 12,000
As at 29 February 2024 12,000
Amortisation
As at 1 March 2023 7,545
Provided during the period 891
As at 29 February 2024 8,436
Net Book Value
As at 29 February 2024 3,564
As at 1 March 2023 4,455
5. Tangible Assets
Land & Property
Freehold Plant & Machinery Motor Vehicles Fixtures & Fittings
£ £ £ £
Cost
As at 1 March 2023 367,490 468,028 86,155 26,372
Additions - 309,454 25,300 8,740
Disposals - - (12,750 ) -
As at 29 February 2024 367,490 777,482 98,705 35,112
Depreciation
As at 1 March 2023 - 215,394 43,784 6,593
Provided during the period - 112,418 11,494 7,130
Disposals - - (2,550 ) -
As at 29 February 2024 - 327,812 52,728 13,723
Net Book Value
As at 29 February 2024 367,490 449,670 45,977 21,389
As at 1 March 2023 367,490 252,634 42,371 19,779
Page 9
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Computer Equipment Total
£ £
Cost
As at 1 March 2023 10,704 958,749
Additions - 343,494
Disposals - (12,750 )
As at 29 February 2024 10,704 1,289,493
Depreciation
As at 1 March 2023 6,410 272,181
Provided during the period 1,073 132,115
Disposals - (2,550 )
As at 29 February 2024 7,483 401,746
Net Book Value
As at 29 February 2024 3,221 887,747
As at 1 March 2023 4,294 686,568
6. Debtors
2024 2023
£ £
Due within one year
Trade debtors 114,489 182,427
Other debtors 108,895 157,655
223,384 340,082
7. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 12,359 20,056
Other creditors 24,577 20,988
Taxation and social security 97,445 18,141
134,381 59,185
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8. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Net obligations under finance lease and hire purchase contracts 79,986 61,449
Bank loans 127,711 135,045
Other creditors 19,474 63,238
227,171 259,732
9. Obligations Under Finance Leases and Hire Purchase
2024 2023
£ £
The future minimum finance lease payments are as follows:
Later than one year and not later than five years 79,986 61,449
10. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 22 22
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