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 02580956 Mr Atul Patel Dr Shane Patel Mrs Jayshree Patel Dr Mitul Patel Mrs Jayshree Patel true iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 02580956 2023-02-28 02580956 2024-02-28 02580956 2023-03-01 2024-02-28 02580956 frs-core:FurnitureFittings 2023-03-01 2024-02-28 02580956 frs-core:PlantMachinery 2023-03-01 2024-02-28 02580956 frs-core:ShareCapital 2024-02-28 02580956 frs-core:RetainedEarningsAccumulatedLosses 2024-02-28 02580956 frs-bus:PrivateLimitedCompanyLtd 2023-03-01 2024-02-28 02580956 frs-bus:AbridgedAccounts 2023-03-01 2024-02-28 02580956 frs-bus:SmallEntities 2023-03-01 2024-02-28 02580956 frs-bus:AuditExempt-NoAccountantsReport 2023-03-01 2024-02-28 02580956 frs-bus:SmallCompaniesRegimeForAccounts 2023-03-01 2024-02-28 02580956 frs-bus:OrdinaryShareClass1 2023-03-01 2024-02-28 02580956 frs-bus:OrdinaryShareClass1 2024-02-28 02580956 1 2023-03-01 2024-02-28 02580956 frs-core:CostValuation 2023-02-28 02580956 frs-core:AdditionsToInvestments 2024-02-28 02580956 frs-core:RevaluationsIncreaseDecreaseInInvestments 2024-02-28 02580956 frs-core:CostValuation 2024-02-28 02580956 frs-bus:Director1 2023-03-01 2024-02-28 02580956 frs-bus:Director2 2023-03-01 2024-02-28 02580956 frs-bus:Director3 2023-03-01 2024-02-28 02580956 frs-bus:Director4 2023-03-01 2024-02-28 02580956 frs-bus:CompanySecretary1 2023-03-01 2024-02-28 02580956 frs-countries:EnglandWales 2023-03-01 2024-02-28 02580956 2022-02-28 02580956 2023-02-28 02580956 2022-03-01 2023-02-28 02580956 frs-core:ShareCapital 2023-02-28 02580956 frs-core:RetainedEarningsAccumulatedLosses 2023-02-28 02580956 frs-bus:OrdinaryShareClass1 2022-03-01 2023-02-28
Registered number: 02580956
S & M ELECTRONICS LIMITED
ABRIDGED Financial Statements
For The Year Ended 28 February 2024
John A. Porter & Co.
74 Dickenson Road
Rusholme
Manchester
M14 5HF
Contents
Page
Abridged Balance Sheet 1—2
Notes to the Abridged Financial Statements 3—5
Page 1
Abridged Balance Sheet
Registered number: 02580956
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 536,154 534,934
Investments 5 768,330 743,229
1,304,484 1,278,163
CURRENT ASSETS
Stocks 6 65,433 59,235
Debtors 19,733 57,718
Cash at bank and in hand 707,479 666,908
792,645 783,861
Creditors: Amounts Falling Due Within One Year (403,889 ) (388,538 )
NET CURRENT ASSETS (LIABILITIES) 388,756 395,323
TOTAL ASSETS LESS CURRENT LIABILITIES 1,693,240 1,673,486
NET ASSETS 1,693,240 1,673,486
CAPITAL AND RESERVES
Called up share capital 7 45 45
Profit and Loss Account 1,693,195 1,673,441
SHAREHOLDERS' FUNDS 1,693,240 1,673,486
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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 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.
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 28 February 2024 in accordance with section 444(2A) of the Companies Act 2006.
The financial statements were approved by the board of directors on 25 November 2024 and were signed on its behalf by:
Mr Atul Patel
Director
25 November 2024
The notes on pages 3 to 5 form part of these financial statements.
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Page 3
Notes to the Abridged Financial Statements
1. General Information
S & M ELECTRONICS LIMITED is a private company, limited by shares, incorporated in England & Wales.
The registered number is 02580956 .
The registered office is 74 Dickenson Road, Rusholme, Manchester, M14 5HF.
Dividends paid to the Directors are reported in the notes ot the accounts.
Transactions with SAM Health Limited are reported in the notes to the accounts.
There are no other related party transactions to report.
There are no contingent liabilities or post balance sheet events to report.
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 represents net invoiced sales of goods, and services excluding Value Added Tax (VAT).
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are stated at cost less accumulated depreciation.
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant & Machinery 10% Reducing Balance
Fixtures & Fittings 20% Reducing Balance
No depreciation is charged in the year of acquisition.
2.4. Investment Properties
Investment properties are revalued annually and any surplus or deficit is dealt with through profit and loss. No depreciation is provided in respect of investment properties.
2.5. Stocks and Work in Progress
Stock is valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.
Work in progress has been valued at prime cost of labour and materials plus other direct expenses.
2.6. Foreign Currencies
Transactions in foreign currencies are recorded using the rate of exchange ruling at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are translated using the rate of exchange ruling at the balance sheet date and the gains or losses on transactions are included in the profit and loss account.
2.7. Pensions
The company operates a defined pension contribution scheme.
Contributions are charged to the profit and loss account as they become payable in accordance with the rules of the scheme.
2.8. Investments & Investment Income
Investments are stated at mid-market value at the balance sheet date. Unrealised investment gains and losses are calculated as the difference between the valuation at the balance sheet date and their valuation at the last balance sheet date or purchase price, if acquired during the year. 
Investment income comprises investment income, realised and unrealised investment gains and losses less investment expenses. Realised investment gains and losses are calculated as the difference between net proceeds on disposal and their purchase price.
2.9. Research and Development
Expenditure on research and development is written off against the profits in the year in which it is incurred.
2.10. Registrar Filing Requirements
The company has taken advantage of Companies Act 2006 section 444(1) and opted not to file the profit and loss account, directors report, and notes to the financial statements relating to the profit and loss account.
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3. Average Number of Employees
Average number of employees, including directors, who are employed under a contract of service during the year was as follows:
2024 2023
Office and administration 4 4
4 4
4. Tangible Assets
Total
£
Cost or Valuation
As at 1 March 2023 588,001
Revaluation 2,000
As at 28 February 2024 590,001
Depreciation
As at 1 March 2023 53,067
Provided during the period 780
As at 28 February 2024 53,847
Net Book Value
As at 28 February 2024 536,154
As at 1 March 2023 534,934
The freehold investment property was acquired on 1 July 2013 at a cost of £362,005.
The property is now being revalued by the directors at the start and at the end of each accounting period.
5. Investments
Total
£
Cost
As at 1 March 2023 743,229
Additions 15,893
Revaluations 9,208
As at 28 February 2024 768,330
Provision
As at 1 March 2023 -
As at 28 February 2024 -
Net Book Value
As at 28 February 2024 768,330
As at 1 March 2023 743,229
Investments are stated at mid-market value at the balance sheet date.
Unrealised investment gains and losses are calculated as the difference between the valuation at the balance sheet date and their valuation at the last balance sheet date or purchase price, if acquired during the year. 
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6. Stocks
2024 2023
£ £
Finished goods 55,105 54,660
Work in progress 10,328 4,575
65,433 59,235
7. Share Capital
2024 2023
Allotted, called up and fully paid £ £
4,500 Ordinary Shares of £ 0.01 each 45 45
Issued A Ordinary Voting Shares of 1p and M and S Ordinary Non Voting Shares of 1p as at 28 February 2023.
- Mr Atul Patel owns 2378 1p ordinary A voting shares
- Mrs Jayshree Patel owns 1202 1p ordinary A voting shares
- Mr Mitul Patel owns 355 1p ordinary A voting shares
- Mr Mitul Patel owns 45 1p ordinary M non-voting shares
- Mr Shane Patel owns 355 1p ordinary A voting shares
- Mr Shane Patel owns 45 1p ordinary S non-voting shares
- Mrs Sudhaben Patel owns 120 1p ordinary A voting shares
8. Pension Commitments
The company operates a defined contribution pension scheme.
The assets of the scheme are held separately from those of the company in an independently administered fund. At the balance sheet date contributions of £Nil (2023 £Nil) were due to the fund and are included in Other Creditors.
9. Directors Advances, Credits and Guarantees
Dividends paid to directors
2024 2023
£ £
Mr Atul Patel 37,600 36,120
Dr Shane Patel 6,352 4,650
Mrs Jayshree Patel 18,784 18,480
Dr Mitul Patel 6,352 4,650
10. Dividends
2024 2023
£ £
On equity shares:
Interim dividend paid 86,560 66,150
11. Ultimate Controlling Party
The Company was controlled throughout the year by the director, Mr Atul Patel, who held 53.92% of the total number of voting shares in issue at the start of the year. Following a disposal of 28 voting shares on 2 March 2023, the % of voting shares held reduced to 53.28% at which level it remained until the end of the year.
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