Acorah Software Products - Accounts Production 16.0.110 false true 28 February 2023 1 March 2022 false 1 March 2023 28 February 2024 28 February 2024 01859263 Mr M A Flynn Mrs J A Flynn iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 01859263 frs-core:Non-currentFinancialInstruments frs-core:MoreThanFiveYears 2024-02-28 01859263 2023-02-28 01859263 2024-02-28 01859263 2023-03-01 2024-02-28 01859263 frs-core:Non-currentFinancialInstruments 2024-02-28 01859263 frs-core:FurnitureFittings 2023-03-01 2024-02-28 01859263 frs-core:MotorVehicles 2023-03-01 2024-02-28 01859263 frs-core:PlantMachinery 2023-03-01 2024-02-28 01859263 frs-core:CapitalRedemptionReserve 2024-02-28 01859263 frs-core:ShareCapital 2024-02-28 01859263 frs-core:RetainedEarningsAccumulatedLosses 2024-02-28 01859263 frs-bus:PrivateLimitedCompanyLtd 2023-03-01 2024-02-28 01859263 frs-bus:AbridgedAccounts 2023-03-01 2024-02-28 01859263 frs-bus:SmallEntities 2023-03-01 2024-02-28 01859263 frs-bus:AuditExempt-NoAccountantsReport 2023-03-01 2024-02-28 01859263 frs-bus:SmallCompaniesRegimeForAccounts 2023-03-01 2024-02-28 01859263 frs-bus:OrdinaryShareClass1 2023-03-01 2024-02-28 01859263 frs-bus:OrdinaryShareClass1 2024-02-28 01859263 frs-bus:OrdinaryShareClass4 2023-03-01 2024-02-28 01859263 frs-bus:OrdinaryShareClass4 2024-02-28 01859263 frs-bus:PreferenceShareClass1 2023-03-01 2024-02-28 01859263 frs-bus:PreferenceShareClass1 2024-02-28 01859263 frs-core:FurtherSpecificReserve1ComponentTotalEquity 2023-02-28 01859263 frs-core:FurtherSpecificReserve1ComponentTotalEquity 2024-02-28 01859263 frs-bus:Director1 2023-03-01 2024-02-28 01859263 frs-bus:CompanySecretary1 2023-03-01 2024-02-28 01859263 frs-countries:EnglandWales 2023-03-01 2024-02-28 01859263 frs-core:Non-currentFinancialInstruments frs-core:MoreThanFiveYears 2023-02-28 01859263 2022-02-28 01859263 2023-02-28 01859263 2022-03-01 2023-02-28 01859263 frs-core:Non-currentFinancialInstruments 2023-02-28 01859263 frs-core:CapitalRedemptionReserve 2023-02-28 01859263 frs-core:ShareCapital 2023-02-28 01859263 frs-core:RetainedEarningsAccumulatedLosses 2023-02-28 01859263 frs-bus:OrdinaryShareClass1 2022-03-01 2023-02-28 01859263 frs-bus:OrdinaryShareClass4 2022-03-01 2023-02-28 01859263 frs-bus:PreferenceShareClass1 2022-03-01 2023-02-28 01859263 frs-core:FurtherSpecificReserve1ComponentTotalEquity 2023-02-28
Registered number: 01859263
AMF Polymers Ltd
ABRIDGED Financial Statements
For The Year Ended 28 February 2024
Contents
Page
Abridged Balance Sheet 1—2
Notes to the Abridged Financial Statements 3—5
Page 1
Abridged Balance Sheet
Registered number: 01859263
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 3 43,645 57,531
Investment Properties 4 685,407 673,950
729,052 731,481
CURRENT ASSETS
Stocks 4,870 7,853
Debtors 108,865 112,891
Cash at bank and in hand 64,014 115,450
177,749 236,194
Creditors: Amounts Falling Due Within One Year (200,943 ) (170,766 )
NET CURRENT ASSETS (LIABILITIES) (23,194 ) 65,428
TOTAL ASSETS LESS CURRENT LIABILITIES 705,858 796,909
Creditors: Amounts Falling Due After More Than One Year 5 (124,900 ) (204,581 )
PROVISIONS FOR LIABILITIES
Deferred Taxation 7 (32,962 ) (35,600 )
NET ASSETS 547,996 556,728
CAPITAL AND RESERVES
Called up share capital 8 5 5
Capital redemption reserve (149,902 ) (149,902 )
Fair value reserve 9 137,054 125,597
Profit and Loss Account 560,839 581,028
SHAREHOLDERS' FUNDS 547,996 556,728
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 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.
All of the company's members have consented to the preparation of an Abridged Balance Sheet for the year end 28 February 2024 in accordance with section 444(2A) of the Companies Act 2006.
On behalf of the board
Mr M A Flynn
Director
27 November 2024
The notes on pages 3 to 5 form part of these financial statements.
Page 2
Page 3
Notes to the Abridged Financial Statements
1. Accounting Policies
1.1. 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.
1.2. Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
1.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are stated at cost less depreciation. 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
Fixtures & Fittings 15% reducing balance
1.4. Investment Properties
Investment properties are revalued annually and the fair value assessed, any resultant change in value is charged to the profit & loss account.
Investment properties shall be included in the balance sheet at their fair value.
1.5. 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.
1.6. Taxation
The charge for taxation takes into account taxation deferred as a result of timing differences between the treatment of certain items for taxation and accounting purposes. In general, deferred taxation is recognised in respect of timing differences that have originated but not reversed at the balance sheet date. However, deferred tax assets are recognised only to the extent that the directors consider that it is more likely than not that there will be suitable taxable profits from which the future reversal of the underlying timing differences can be deducted. Deferred taxation is measured on a non-discounted basis at the tax rates that are expected to apply in periods in which the timing differences reverse, based on tax rates and the law enacted or substantively enacted at the balance sheet date.
2. Average Number of Employees
Average number of employees, including directors, during the year was:
2024 2023
Office and administration 1 1
Manufacturing 4 4
5 5
Page 3
Page 4
3. Tangible Assets
Total
£
Cost or Valuation
As at 1 March 2023 410,902
As at 28 February 2024 410,902
Depreciation
As at 1 March 2023 353,371
Provided during the period 13,886
As at 28 February 2024 367,257
Net Book Value
As at 28 February 2024 43,645
As at 1 March 2023 57,531
The investment properties are included at fair value as provided by the director.
Included above are assets held under finance leases or hire purchase contracts with a net book value as follows:
4. Investment Property
2024
£
Fair Value
As at 1 March 2023 673,950
Revaluations 11,457
As at 28 February 2024 685,407
5. Creditors: amounts falling due after five years
Of the creditors falling due after more than one year the following amounts are due after more than five years.
2024 2023
£ £
Bank loans 124,899 116,174
Page 4
Page 5
6. Secured Creditors
Of the creditors falling due within and after more than one year the following bank loans and overdrafts are secured by a Legal Charge in favour of Barclays Bank Plc over the freehold property included within Investment Property.
A debenture exists in favour of Barclays Bank Plc in the form of a fixed and floating charge on all company assets, covering all monies due to Barclays Bank Plc. 
The finance lease obligations are secured on the assets purchased.
2024 2023
£ £
Bank loans and overdrafts 157,872 226,683
7. Deferred Taxation
The provision for deferred tax is made up as follows:
2024 2023
£ £
Other timing differences 32,962 35,600
8. Share Capital
2024 2023
Allotted, called up and fully paid £ £
1 Ordinary Shares of £ 2.000 each 2 2
1 Ordinary C shares of £ 1.000 each 1 1
3 3
Preference Shares
2024 2023
Allotted, called up and fully paid £ £
1 Preference Shares of £ 2.000 each 2 2
9. Reserves
Fair Value Reserve
£
As at 1 March 2023 125,597
Movements in fair value reserve 11,457
As at 28 February 2024 137,054
Page 5