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REGISTERED NUMBER: 09031588 (England and Wales)
















Unaudited Financial Statements for the Year Ended 31 May 2024

for

Accord Technical Ltd

Accord Technical Ltd (Registered number: 09031588)






Contents of the Financial Statements
for the Year Ended 31 May 2024




Page

Company Information 1

Abridged Balance Sheet 2

Notes to the Financial Statements 4


Accord Technical Ltd

Company Information
for the Year Ended 31 May 2024







DIRECTORS: P R Heaton
J Chamberlain





REGISTERED OFFICE: The Fish Inn
The Gault
Sutton
Ely
Cambridgeshire
CB6 2BE





REGISTERED NUMBER: 09031588 (England and Wales)





ACCOUNTANTS: Hardcastle Burton LLP
Lake House
Market Hill
Royston
Hertfordshire
SG8 9JN

Accord Technical Ltd (Registered number: 09031588)

Abridged Balance Sheet
31 May 2024

31.5.24 31.5.23
as restated
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 164,795 181,099

CURRENT ASSETS
Debtors 782,112 683,493
Cash at bank 504,196 526,164
1,286,308 1,209,657
CREDITORS
Amounts falling due within one year 289,100 292,211
NET CURRENT ASSETS 997,208 917,446
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,162,003

1,098,545

CREDITORS
Amounts falling due after more than one
year

(38,877

)

(66,098

)

PROVISIONS FOR LIABILITIES (27,417 ) -
NET ASSETS 1,095,709 1,032,447

CAPITAL AND RESERVES
Called up share capital 7 100 100
Retained earnings 1,095,609 1,032,347
SHAREHOLDERS' FUNDS 1,095,709 1,032,447

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 May 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

Accord Technical Ltd (Registered number: 09031588)

Abridged Balance Sheet - continued
31 May 2024


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

All the members have consented to the preparation of an abridged Balance Sheet for the year ended 31 May 2024 in accordance with Section 444(2A) of the Companies Act 2006.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 19 November 2024 and were signed on its behalf by:





P R Heaton - Director


Accord Technical Ltd (Registered number: 09031588)

Notes to the Financial Statements
for the Year Ended 31 May 2024

1. STATUTORY INFORMATION

Accord Technical Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Plant and machinery - 25% on cost
Motor vehicles - 25% on cost
Computer equipment - 25% on cost

Financial instruments
The company has elected to apply the provisions of Section 11 'Basic Financial Instruments' of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the company's statement of financial position when the company becomes party to the contractual provisions of the instrument.

Basic financial assets
Basic financial assets, which include debtors, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Basic financial liabilities
Basic financial liabilities, including creditors and loans that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.


Accord Technical Ltd (Registered number: 09031588)

Notes to the Financial Statements - continued
for the Year Ended 31 May 2024

2. ACCOUNTING POLICIES - continued
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 18 (2023 - 17 ) .

4. TANGIBLE FIXED ASSETS
Totals
£   
COST
At 1 June 2023 231,237
Additions 49,186
At 31 May 2024 280,423
DEPRECIATION
At 1 June 2023 50,138
Charge for year 65,490
At 31 May 2024 115,628
NET BOOK VALUE
At 31 May 2024 164,795
At 31 May 2023 181,099

Accord Technical Ltd (Registered number: 09031588)

Notes to the Financial Statements - continued
for the Year Ended 31 May 2024

4. TANGIBLE FIXED ASSETS - continued

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Totals
£   
COST
At 1 June 2023
and 31 May 2024 77,466
DEPRECIATION
At 1 June 2023 13,977
Charge for year 19,366
At 31 May 2024 33,343
NET BOOK VALUE
At 31 May 2024 44,123
At 31 May 2023 63,489

5. LEASING AGREEMENTS

Minimum lease payments under hire purchase fall due as follows:

31.5.24 31.5.23
as restated
£    £   
Net obligations repayable:
Within one year 19,531 19,531
Between one and five years 28,877 46,098
48,408 65,629

6. SECURED DEBTS

The following secured debts are included within creditors:

31.5.24 31.5.23
as restated
£    £   
Bounce Back Loan 20,000 30,000

During the 2020 financial year the company received a government backed loan in light of the Covid 19 pandemic, The loan is secured by the government over a 5 year period. The loan is repayable by instalments. Repayments commenced in June 2022. Interest is charged at 2.5% per annum from the first repayment date.

7. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.5.24 31.5.23
value: as restated
£    £   
100 Ordinary 1 100 100

Accord Technical Ltd (Registered number: 09031588)

Notes to the Financial Statements - continued
for the Year Ended 31 May 2024

8. PENSION COMMITMENTS

The pension cost charge represents contributions payable by the company to the fund and amounted to £13,867 (2023: £18,620). Contributions totalling £1,346 (2023: £759) were payable to the fund at the balance sheet date and are included in creditors.