Acorah Software Products - Accounts Production 16.0.110 false true 31 March 2023 1 April 2022 false 1 April 2023 31 March 2024 31 March 2024 06477796 Mr L O'Dowd Mrs L O'Dowd iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 06477796 2023-03-31 06477796 2024-03-31 06477796 2023-04-01 2024-03-31 06477796 frs-core:CurrentFinancialInstruments 2024-03-31 06477796 frs-core:Non-currentFinancialInstruments 2024-03-31 06477796 frs-core:ComputerEquipment 2024-03-31 06477796 frs-core:ComputerEquipment 2023-04-01 2024-03-31 06477796 frs-core:ComputerEquipment 2023-03-31 06477796 frs-core:MotorVehicles 2024-03-31 06477796 frs-core:MotorVehicles 2023-04-01 2024-03-31 06477796 frs-core:MotorVehicles 2023-03-31 06477796 frs-core:PlantMachinery 2024-03-31 06477796 frs-core:PlantMachinery 2023-04-01 2024-03-31 06477796 frs-core:PlantMachinery 2023-03-31 06477796 frs-core:ShareCapital 2024-03-31 06477796 frs-core:RetainedEarningsAccumulatedLosses 2024-03-31 06477796 frs-bus:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 06477796 frs-bus:FilletedAccounts 2023-04-01 2024-03-31 06477796 frs-bus:SmallEntities 2023-04-01 2024-03-31 06477796 frs-bus:AuditExempt-NoAccountantsReport 2023-04-01 2024-03-31 06477796 frs-bus:SmallCompaniesRegimeForAccounts 2023-04-01 2024-03-31 06477796 frs-bus:Director1 2023-04-01 2024-03-31 06477796 frs-bus:CompanySecretary1 2023-04-01 2024-03-31 06477796 frs-core:CurrentFinancialInstruments 1 2024-03-31 06477796 frs-countries:EnglandWales 2023-04-01 2024-03-31 06477796 2022-03-31 06477796 2023-03-31 06477796 2022-04-01 2023-03-31 06477796 frs-core:CurrentFinancialInstruments 2023-03-31 06477796 frs-core:Non-currentFinancialInstruments 2023-03-31 06477796 frs-core:ShareCapital 2023-03-31 06477796 frs-core:RetainedEarningsAccumulatedLosses 2023-03-31 06477796 frs-core:CurrentFinancialInstruments 1 2023-03-31
Registered number: 06477796
Peak Safety Services Limited
Unaudited Financial Statements
For The Year Ended 31 March 2024
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 06477796
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 218,891 188,117
218,891 188,117
CURRENT ASSETS
Stocks 5 28,525 150
Debtors 6 841,421 1,052,585
Cash at bank and in hand 386,826 301,833
1,256,772 1,354,568
Creditors: Amounts Falling Due Within One Year 7 (290,349 ) (352,576 )
NET CURRENT ASSETS (LIABILITIES) 966,423 1,001,992
TOTAL ASSETS LESS CURRENT LIABILITIES 1,185,314 1,190,109
Creditors: Amounts Falling Due After More Than One Year 8 (16,917 ) (62,317 )
NET ASSETS 1,168,397 1,127,792
CAPITAL AND RESERVES
Called up share capital 9 103 103
Profit and Loss Account 1,168,294 1,127,689
SHAREHOLDERS' FUNDS 1,168,397 1,127,792
Page 1
Page 2
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 member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his 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 L O'Dowd
Director
15/11/2024
The notes on pages 3 to 5 form part of these financial statements.
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Notes to the Financial Statements
1. General Information
Peak Safety Services Limited is a private company, limited by shares, incorporated in England & Wales, registered number 06477796 . The registered office is Unit C2 Greenhill Industrial Estate, Birmingham Road, Kidderminster, DY10 2RN.
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 Value
Motor Vehicles 15% Reducing Value
Computer Equipment 15% Reducing Value
2.4. 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.
2.5. 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 and deferred tax are recognised in profit or loss for the year, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case current and deferred tax are 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: 7)
7 7
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4. Tangible Assets
Plant & Machinery Motor Vehicles Computer Equipment Total
£ £ £ £
Cost
As at 1 April 2023 143,393 104,127 15,900 263,420
Additions 32,046 22,000 4,499 58,545
As at 31 March 2024 175,439 126,127 20,399 321,965
Depreciation
As at 1 April 2023 40,206 31,405 3,692 75,303
Provided during the period 15,478 10,908 1,385 27,771
As at 31 March 2024 55,684 42,313 5,077 103,074
Net Book Value
As at 31 March 2024 119,755 83,814 15,322 218,891
As at 1 April 2023 103,187 72,722 12,208 188,117
5. Stocks
2024 2023
£ £
Materials & Work in progess 28,525 150
6. Debtors
2024 2023
£ £
Due within one year
Trade debtors 204,703 422,296
Prepayments and accrued income 27,371 26,360
Other debtors 423,047 422,472
Director's loan account 186,300 181,457
841,421 1,052,585
7. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 141,361 52,346
Bank loans and overdrafts 50,749 56,099
Corporation tax 36,789 89,101
Other taxes and social security 8,807 14,163
VAT 28,545 103,428
Other creditors due within 1 yr 24,098 37,439
290,349 352,576
8. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Bank loans 16,917 62,317
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9. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 103 103
10. Directors Advances, Credits and Guarantees
Included within Debtors are the following loans to directors:
The above loan outstanding has since been repiad within 9 months of the year end 31 March 2024.
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