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 06823341 Mr William Flint Mr Matthew Robertson-Waller Mr Matthew Robertson-Waller iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 06823341 2023-03-31 06823341 2024-03-31 06823341 2023-04-01 2024-03-31 06823341 frs-core:CurrentFinancialInstruments 2024-03-31 06823341 frs-core:Non-currentFinancialInstruments 2024-03-31 06823341 frs-core:ComputerEquipment 2024-03-31 06823341 frs-core:ComputerEquipment 2023-04-01 2024-03-31 06823341 frs-core:ComputerEquipment 2023-03-31 06823341 frs-core:NetGoodwill 2024-03-31 06823341 frs-core:NetGoodwill 2023-04-01 2024-03-31 06823341 frs-core:NetGoodwill 2023-03-31 06823341 frs-core:MotorVehicles 2024-03-31 06823341 frs-core:MotorVehicles 2023-04-01 2024-03-31 06823341 frs-core:MotorVehicles 2023-03-31 06823341 frs-core:PlantMachinery 2024-03-31 06823341 frs-core:PlantMachinery 2023-04-01 2024-03-31 06823341 frs-core:PlantMachinery 2023-03-31 06823341 frs-core:ShareCapital 2024-03-31 06823341 frs-core:RetainedEarningsAccumulatedLosses 2024-03-31 06823341 frs-bus:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 06823341 frs-bus:FilletedAccounts 2023-04-01 2024-03-31 06823341 frs-bus:SmallEntities 2023-04-01 2024-03-31 06823341 frs-bus:AuditExempt-NoAccountantsReport 2023-04-01 2024-03-31 06823341 frs-bus:SmallCompaniesRegimeForAccounts 2023-04-01 2024-03-31 06823341 frs-bus:Director1 2023-04-01 2024-03-31 06823341 frs-bus:Director2 2023-04-01 2024-03-31 06823341 frs-bus:CompanySecretary1 2023-04-01 2024-03-31 06823341 frs-countries:EnglandWales 2023-04-01 2024-03-31 06823341 2022-03-31 06823341 2023-03-31 06823341 2022-04-01 2023-03-31 06823341 frs-core:CurrentFinancialInstruments 2023-03-31 06823341 frs-core:Non-currentFinancialInstruments 2023-03-31 06823341 frs-core:ShareCapital 2023-03-31 06823341 frs-core:RetainedEarningsAccumulatedLosses 2023-03-31
Registered number: 06823341
MRWCF Electrical Limited
Unaudited 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: 06823341
2024 2023
Notes £ £ £ £
FIXED ASSETS
Intangible Assets 4 4,949 5,938
Tangible Assets 5 71,579 83,166
76,528 89,104
CURRENT ASSETS
Stocks 6 1,000 800
Debtors 7 110,448 80,877
Cash at bank and in hand 9,550 47,546
120,998 129,223
Creditors: Amounts Falling Due Within One Year 8 (79,710 ) (73,428 )
NET CURRENT ASSETS (LIABILITIES) 41,288 55,795
TOTAL ASSETS LESS CURRENT LIABILITIES 117,816 144,899
Creditors: Amounts Falling Due After More Than One Year 9 (11,621 ) (21,605 )
PROVISIONS FOR LIABILITIES
Deferred Taxation (15,761 ) (18,639 )
NET ASSETS 90,434 104,655
CAPITAL AND RESERVES
Called up share capital 10 104 104
Profit and Loss Account 90,330 104,551
SHAREHOLDERS' FUNDS 90,434 104,655
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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 Profit and Loss Account.
On behalf of the board
Mr William Flint
Director
Mr Matthew Robertson-Waller
Director
04/10/2024
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
MRWCF Electrical Limited is a private company, limited by shares, incorporated in England & Wales, registered number 06823341 . The registered office is Georgian House, 34 Thoroughfare, Halesworth, Suffolk, IP19 8AP.
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 20 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:
Plant & Machinery 15% Reducing Balance
Motor Vehicles 25% Reducing Balance
Computer Equipment 25% Reducing Balance
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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.
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: 9 (2023: 7)
9 7
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4. Intangible Assets
Goodwill
£
Cost
As at 1 April 2023 19,784
As at 31 March 2024 19,784
Amortisation
As at 1 April 2023 13,846
Provided during the period 989
As at 31 March 2024 14,835
Net Book Value
As at 31 March 2024 4,949
As at 1 April 2023 5,938
5. Tangible Assets
Plant & Machinery Motor Vehicles Computer Equipment Total
£ £ £ £
Cost
As at 1 April 2023 32,134 121,321 3,172 156,627
Additions 7,958 - 549 8,507
As at 31 March 2024 40,092 121,321 3,721 165,134
Depreciation
As at 1 April 2023 16,466 55,082 1,913 73,461
Provided during the period 3,208 16,560 326 20,094
As at 31 March 2024 19,674 71,642 2,239 93,555
Net Book Value
As at 31 March 2024 20,418 49,679 1,482 71,579
As at 1 April 2023 15,668 66,239 1,259 83,166
6. Stocks
2024 2023
£ £
Stock 1,000 800
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7. Debtors
2024 2023
£ £
Due within one year
Trade debtors 103,102 74,211
Prepayments and accrued income 3,657 2,803
Other debtors 3,689 3,863
110,448 80,877
8. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 19,791 27,043
Bank loans and overdrafts 10,040 10,062
Corporation tax 25,601 25,338
VAT 704 7,702
Accruals and deferred income 2,155 3,279
Directors' loan accounts 21,419 4
79,710 73,428
9. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Bank loans 11,621 21,605
10. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 104 104
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