Acorah Software Products - Accounts Production 16.0.110 false true true 31 March 2023 1 April 2022 false 1 April 2023 31 March 2024 31 March 2024 05081319 Ian Coles Tommy Hickman Jennifer Bailey Emma Wallis Julian Harrison Derek Gray Ben Moss iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 05081319 2023-03-31 05081319 2024-03-31 05081319 2023-04-01 2024-03-31 05081319 frs-core:CurrentFinancialInstruments 2024-03-31 05081319 frs-core:Non-currentFinancialInstruments 2024-03-31 05081319 frs-core:FurnitureFittings 2024-03-31 05081319 frs-core:FurnitureFittings 2023-04-01 2024-03-31 05081319 frs-core:FurnitureFittings 2023-03-31 05081319 frs-core:LandBuildings frs-core:OwnedOrFreeholdAssets 2024-03-31 05081319 frs-core:LandBuildings frs-core:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 05081319 frs-core:LandBuildings frs-core:OwnedOrFreeholdAssets 2023-03-31 05081319 frs-core:MotorVehicles 2024-03-31 05081319 frs-core:MotorVehicles 2023-04-01 2024-03-31 05081319 frs-core:MotorVehicles 2023-03-31 05081319 frs-core:PlantMachinery 2024-03-31 05081319 frs-core:PlantMachinery 2023-04-01 2024-03-31 05081319 frs-core:PlantMachinery 2023-03-31 05081319 frs-core:RetainedEarningsAccumulatedLosses 2024-03-31 05081319 frs-bus:CompanyLimitedByGuarantee 2023-04-01 2024-03-31 05081319 frs-bus:FilletedAccounts 2023-04-01 2024-03-31 05081319 frs-bus:SmallEntities 2023-04-01 2024-03-31 05081319 frs-bus:AuditExempt-NoAccountantsReport 2023-04-01 2024-03-31 05081319 frs-bus:SmallCompaniesRegimeForAccounts 2023-04-01 2024-03-31 05081319 frs-bus:Director1 2023-04-01 2024-03-31 05081319 frs-bus:Director2 2023-04-01 2024-03-31 05081319 frs-bus:Director3 2023-04-01 2024-03-31 05081319 frs-bus:Director4 2023-04-01 2024-03-31 05081319 frs-bus:Director5 2023-04-01 2024-03-31 05081319 frs-bus:Director6 2023-04-01 2024-03-31 05081319 frs-bus:CompanySecretary1 2023-04-01 2024-03-31 05081319 frs-core:CurrentFinancialInstruments 1 2024-03-31 05081319 frs-countries:EnglandWales 2023-04-01 2024-03-31 05081319 2022-03-31 05081319 2023-03-31 05081319 2022-04-01 2023-03-31 05081319 frs-core:CurrentFinancialInstruments 2023-03-31 05081319 frs-core:Non-currentFinancialInstruments 2023-03-31 05081319 frs-core:RetainedEarningsAccumulatedLosses 2023-03-31 05081319 frs-core:CurrentFinancialInstruments 1 2023-03-31
Registered number: 05081319
Bristol Wood Recycling Project
Financial Statements
For The Year Ended 31 March 2024
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—6
Page 1
Balance Sheet
Registered number: 05081319
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 449,478 466,374
449,478 466,374
CURRENT ASSETS
Stocks 5 5,499 5,231
Debtors 6 27,694 31,935
Cash at bank and in hand 189,480 147,564
222,673 184,730
Creditors: Amounts Falling Due Within One Year 7 (433,421 ) (30,184 )
NET CURRENT ASSETS (LIABILITIES) (210,748 ) 154,546
TOTAL ASSETS LESS CURRENT LIABILITIES 238,730 620,920
Creditors: Amounts Falling Due After More Than One Year 8 - (390,413 )
PROVISIONS FOR LIABILITIES
Deferred Taxation (9,902 ) (12,027 )
NET ASSETS 228,828 218,480
Income and Expenditure Account 228,828 218,480
MEMBERS' FUNDS 228,828 218,480
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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 Income and Expenditure Account.
On behalf of the board
Ian Coles
Director
22/11/2024
The notes on pages 3 to 6 form part of these financial statements.
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Notes to the Financial Statements
1. General Information
Bristol Wood Recycling Project is a private company, limited by guarantee, incorporated in England & Wales, registered number 05081319 . The registered office is Unit 4, William Street, St. Philips, Bristol, BS2 0RG.
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
£398,000 of 5 year bonds are due to be repaid in February 2025. The directors are in the process of arranging a mortgage to fund approximately £300,000 of the liability, with the balance being funded from cash reserves. They are confident that this strategy will be successful. Other than this there are no  material uncertainties related to events or conditions that may cast significant doubt about the company's ability to continue as a going concern.
2.3. 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.
Government Grants
The company has chosen to use the option in Section 24 of FRS102 to use the accruals method for accounting for government grants. Government grants are recognised in the income and expenditure 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 income and expenditure account. Grants towards general activities of the entity over a specific period are recognised in the income and expenditure account over that period.
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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 2% straight line on buildings
Plant & Machinery 20% straight line
Motor Vehicles 20% straight line
Fixtures & Fittings 20% straight line
2.5. Stocks and Work in Progress
Stockis valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving items. Purchased stock is valued at cost, excluding VAT. Stock from collections which is obtained free of charge, is valued at 20% sale price which the directors consider a reasonable reflection of the direct costs of collecting, sorting and processing such stock prior to making it available for sale. 
2.6. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
There is no tax currently payable due to capital allowance claims which create a tax loss for the year, which will be carried back and offset against the previous year's taxable surplus. Taxable surplus differs from surplus 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. 
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 surplus. 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 surplus 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 surplus 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 surplus or deficit, 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: 12 (2023: 12)
12 12
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4. Tangible Assets
Land & Property
Freehold Plant & Machinery Motor Vehicles Fixtures & Fittings Total
£ £ £ £ £
Cost
As at 1 April 2023 417,885 33,430 54,489 5,434 511,238
Additions - 748 - - 748
As at 31 March 2024 417,885 34,178 54,489 5,434 511,986
Depreciation
As at 1 April 2023 18,314 14,823 8,595 3,132 44,864
Provided during the period 4,351 2,615 9,999 679 17,644
As at 31 March 2024 22,665 17,438 18,594 3,811 62,508
Net Book Value
As at 31 March 2024 395,220 16,740 35,895 1,623 449,478
As at 1 April 2023 399,571 18,607 45,894 2,302 466,374
5. Stocks
2024 2023
£ £
Materials 5,499 5,231
6. Debtors
2024 2023
£ £
Due within one year
Trade debtors 23,943 21,692
Prepayments and accrued income 3,751 4,583
Corporation tax recoverable assets - 5,660
27,694 31,935
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7. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 2,777 3,224
Corporation tax 5,778 -
Other taxes and social security 3,311 4,320
VAT 20,495 11,878
Other creditors 591 4,270
Fixed Rate Bonds - due Feb 2025 394,372 -
Accruals and deferred income 6,097 6,492
433,421 30,184
8. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Fixed Rate Secured Bonds - 390,413
430,000 4% Fixed Rate Secured Bonds 2025 were issued in March 2019 of which 32,000 have been repaid early. The remaining 398,000 fall due on 28 February 2025. 
They are secured by way of a by way of a first legal mortgage over the freehold property and a first fixed charge over the other assets of the company.
9. Company limited by guarantee
The company is limited by guarantee and has no share capital.
Every member of the company undertakes to contribute to the assets of the company, in the event of a winding up, such an amount as may be required not exceeding £1.
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