Acorah Software Products - Accounts Production 16.0.110 false true 28 February 2023 1 March 2022 false 1 March 2023 29 February 2024 29 February 2024 12481229 D M Eadle M Eadle iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 12481229 2023-02-28 12481229 2024-02-29 12481229 2023-03-01 2024-02-29 12481229 frs-core:Non-currentFinancialInstruments 2024-02-29 12481229 frs-core:ComputerEquipment 2023-03-01 2024-02-29 12481229 frs-core:FurnitureFittings 2023-03-01 2024-02-29 12481229 frs-core:MotorVehicles 2023-03-01 2024-02-29 12481229 frs-core:PlantMachinery 2023-03-01 2024-02-29 12481229 frs-core:WithinOneYear 2024-02-29 12481229 frs-core:ShareCapital 2024-02-29 12481229 frs-core:RetainedEarningsAccumulatedLosses 2024-02-29 12481229 frs-bus:PrivateLimitedCompanyLtd 2023-03-01 2024-02-29 12481229 frs-bus:AbridgedAccounts 2023-03-01 2024-02-29 12481229 frs-bus:SmallEntities 2023-03-01 2024-02-29 12481229 frs-bus:AuditExempt-NoAccountantsReport 2023-03-01 2024-02-29 12481229 frs-bus:SmallCompaniesRegimeForAccounts 2023-03-01 2024-02-29 12481229 frs-bus:Director1 2023-03-01 2024-02-29 12481229 frs-bus:CompanySecretary1 2023-03-01 2024-02-29 12481229 frs-countries:EnglandWales 2023-03-01 2024-02-29 12481229 2022-02-28 12481229 2023-02-28 12481229 2022-03-01 2023-02-28 12481229 frs-core:Non-currentFinancialInstruments 2023-02-28 12481229 frs-core:WithinOneYear 2023-02-28 12481229 frs-core:ShareCapital 2023-02-28 12481229 frs-core:RetainedEarningsAccumulatedLosses 2023-02-28
Registered number: 12481229
Ad Heating Solutions Limited
ABRIDGED Financial Statements
For The Year Ended 29 February 2024
Contents
Page
Abridged Balance Sheet 1—2
Notes to the Abridged Financial Statements 3—4
Page 1
Abridged Balance Sheet
Registered number: 12481229
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 14,327 17,700
14,327 17,700
CURRENT ASSETS
Stocks 27,000 70,000
Debtors 220,940 42,578
Cash at bank and in hand 38,218 17,335
286,158 129,913
Creditors: Amounts Falling Due Within One Year (255,906 ) (84,175 )
NET CURRENT ASSETS (LIABILITIES) 30,252 45,738
TOTAL ASSETS LESS CURRENT LIABILITIES 44,579 63,438
Creditors: Amounts Falling Due After More Than One Year (12,190 ) (19,930 )
PROVISIONS FOR LIABILITIES
Deferred Taxation (3,152 ) (3,894 )
NET ASSETS 29,237 39,614
CAPITAL AND RESERVES
Called up share capital 6 20 20
Profit and Loss Account 29,217 39,594
SHAREHOLDERS' FUNDS 29,237 39,614
Page 1
Page 2
For the year ending 29 February 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 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 Profit and Loss Account and an Abridged Balance Sheet for the year end 29 February 2024 in accordance with section 444(2A) of the Companies Act 2006.
On behalf of the board
D M Eadle
Director
28/11/2024
The notes on pages 3 to 4 form part of these financial statements.
Page 2
Page 3
Notes to the Abridged Financial Statements
1. General Information
Ad Heating Solutions Limited is a private company, limited by shares, incorporated in England & Wales, registered number 12481229 . The registered office is 34 Besselsleigh Road, Wootton, Abingdon, OX13 6DW.
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 25% reducing balance
Motor Vehicles 25% reducing balance
Fixtures & Fittings 25% reducing balance
Computer Equipment 25% reducing balance
2.4. Leasing and Hire Purchase Contracts
Assets obtained under finance leases are capitalised as tangible fixed assets. Assets acquired under finance leases and hire purchase contracts are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in the creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to profit and loss account as incurred.
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.
Page 3
Page 4
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. 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.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 11 (2023: 15)
11 15
4. Tangible Assets
Total
£
Cost
As at 1 March 2023 28,117
Additions 861
As at 29 February 2024 28,978
Depreciation
As at 1 March 2023 10,417
Provided during the period 4,234
As at 29 February 2024 14,651
Net Book Value
As at 29 February 2024 14,327
As at 1 March 2023 17,700
5. Obligations Under Finance Leases and Hire Purchase
2024 2023
£ £
The future minimum finance lease payments are as follows:
Not later than one year 2,741 2,741
Less: Finance charges allocated to future periods (5,940 ) (8,680 )
8,681 11,421
6. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 20 20
Page 4