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 06395632 Mr D Thomas Miss R L Mountford Mr S P Thomas iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 06395632 2023-03-31 06395632 2024-03-31 06395632 2023-04-01 2024-03-31 06395632 frs-core:CurrentFinancialInstruments 2024-03-31 06395632 frs-core:Non-currentFinancialInstruments 2024-03-31 06395632 frs-core:LandBuildings frs-core:OwnedOrFreeholdAssets 2024-03-31 06395632 frs-core:LandBuildings frs-core:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 06395632 frs-core:LandBuildings frs-core:OwnedOrFreeholdAssets 2023-03-31 06395632 frs-core:MotorVehicles 2024-03-31 06395632 frs-core:MotorVehicles 2023-04-01 2024-03-31 06395632 frs-core:MotorVehicles 2023-03-31 06395632 frs-core:PlantMachinery 2024-03-31 06395632 frs-core:PlantMachinery 2023-04-01 2024-03-31 06395632 frs-core:PlantMachinery 2023-03-31 06395632 frs-core:CapitalRedemptionReserve 2024-03-31 06395632 frs-core:ShareCapital 2024-03-31 06395632 frs-core:RetainedEarningsAccumulatedLosses 2024-03-31 06395632 frs-bus:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 06395632 frs-bus:FilletedAccounts 2023-04-01 2024-03-31 06395632 frs-bus:SmallEntities 2023-04-01 2024-03-31 06395632 frs-bus:AuditExempt-NoAccountantsReport 2023-04-01 2024-03-31 06395632 frs-bus:SmallCompaniesRegimeForAccounts 2023-04-01 2024-03-31 06395632 frs-bus:Director1 2023-04-01 2024-03-31 06395632 frs-bus:Director1 2023-03-31 06395632 frs-bus:Director1 2024-03-31 06395632 frs-bus:Director2 2023-04-01 2024-03-31 06395632 frs-bus:Director3 2023-04-01 2024-03-31 06395632 frs-core:CurrentFinancialInstruments 1 2024-03-31 06395632 frs-countries:EnglandWales 2023-04-01 2024-03-31 06395632 2022-03-31 06395632 2023-03-31 06395632 2022-04-01 2023-03-31 06395632 frs-core:CurrentFinancialInstruments 2023-03-31 06395632 frs-core:Non-currentFinancialInstruments 2023-03-31 06395632 frs-core:CapitalRedemptionReserve 2023-03-31 06395632 frs-core:ShareCapital 2023-03-31 06395632 frs-core:RetainedEarningsAccumulatedLosses 2023-03-31 06395632 frs-core:CurrentFinancialInstruments 1 2023-03-31
Registered number: 06395632
Byfield Services Ltd
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: 06395632
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 4,313,821 3,663,657
4,313,821 3,663,657
CURRENT ASSETS
Debtors 5 672,626 603,262
Cash at bank and in hand 263,675 321,449
936,301 924,711
Creditors: Amounts Falling Due Within One Year 6 (1,170,984 ) (1,044,376 )
NET CURRENT ASSETS (LIABILITIES) (234,683 ) (119,665 )
TOTAL ASSETS LESS CURRENT LIABILITIES 4,079,138 3,543,992
Creditors: Amounts Falling Due After More Than One Year 7 (1,270,157 ) (965,581 )
PROVISIONS FOR LIABILITIES
Deferred Taxation (757,472 ) (615,900 )
NET ASSETS 2,051,509 1,962,511
CAPITAL AND RESERVES
Called up share capital 8 8 8
Capital redemption reserve 8 8
Profit and Loss Account 2,051,493 1,962,495
SHAREHOLDERS' FUNDS 2,051,509 1,962,511
Page 1
Page 2
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 S P Thomas
Director
21 November 2024
The notes on pages 3 to 6 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Byfield Services Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 06395632 . The registered office is Old Thompson Utility Yard Foundry Lane, Whitehall Rugby Club Car Park Entrance, Whitehall, Bristol, BS5 7UE.
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.
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:
Freehold 2% on cost
Plant & Machinery 20% on reducing balance
Motor Vehicles 25% on 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 are depreciated over the shorter of the lease term and their useful lives. Assets acquired under 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. 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.
...CONTINUED
Page 3
Page 4
2.5. Taxation - continued
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: 12 (2023: 11)
12 11
4. Tangible Assets
Land & Property
Freehold Plant & Machinery Motor Vehicles Total
£ £ £ £
Cost
As at 1 April 2023 360,469 6,252,706 208,174 6,821,349
Additions - 2,310,325 168,764 2,479,089
Disposals - (1,834,158 ) (39,495 ) (1,873,653 )
As at 31 March 2024 360,469 6,728,873 337,443 7,426,785
Depreciation
As at 1 April 2023 5,608 3,044,418 107,666 3,157,692
Provided during the period 2,403 896,029 59,913 958,345
Disposals - (993,199 ) (9,874 ) (1,003,073 )
As at 31 March 2024 8,011 2,947,248 157,705 3,112,964
Net Book Value
As at 31 March 2024 352,458 3,781,625 179,738 4,313,821
As at 1 April 2023 354,861 3,208,288 100,508 3,663,657
Page 4
Page 5
5. Debtors
2024 2023
£ £
Due within one year
Trade debtors 464,826 500,717
Other debtors 35,511 14,011
VAT 82,412 -
Net wages 3,265 2,022
Directors' loan accounts 86,612 86,512
672,626 603,262
6. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Net obligations under finance lease and hire purchase contracts 1,035,372 829,772
Trade creditors 65,464 42,722
Bank loans and overdrafts 60,800 60,800
Corporation tax - 54,271
Other taxes and social security 7,631 6,002
VAT - 47,630
Other creditors - 2,426
Pension creditor 1,717 753
1,170,984 1,044,376
The bank loans are secured by a fixed and floating charge over the assets of the company. The director has also given a personal guarantee as security.
7. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Net obligations under finance lease and hire purchase contracts 1,121,749 796,636
Bank loans 148,408 168,945
1,270,157 965,581
The bank loans are secured by a fixed and floating charge over the assets of the company. The director has also given a personal guarantee as security.
8. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 8 8
Page 5
Page 6
9. Pension Commitments
The company operates a defined contribution pension scheme for the qualifying directors and employees. The assets of the scheme are held separately from those of the company in an independently administered fund. At the balance sheet date unpaid contributions of £1,717 (2023: £753) were due to the fund.
10. Directors Advances, Credits and Guarantees
Included within Debtors are the following loans to directors:
As at 1 April 2023 Amounts advanced Amounts repaid Amounts written off As at 31 March 2024
£ £ £ £ £
Mr Spencer Thomas 86,512 102,406 102,306 - 86,612
The above loan is unsecured, and repayable on demand. Interest is charged at the offical rate of 2.25%.
Page 6