Acorah Software Products - Accounts Production 15.0.600 false true 30 April 2023 1 May 2022 false 1 May 2023 30 April 2024 30 April 2024 02602804 Mr Terence Anthony Cowern Mr Paul George Cowern iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 02602804 2023-04-30 02602804 2024-04-30 02602804 2023-05-01 2024-04-30 02602804 frs-core:CurrentFinancialInstruments 2024-04-30 02602804 frs-core:Non-currentFinancialInstruments 2024-04-30 02602804 frs-core:BetweenOneFiveYears 2024-04-30 02602804 frs-core:ComputerEquipment 2024-04-30 02602804 frs-core:ComputerEquipment 2023-05-01 2024-04-30 02602804 frs-core:ComputerEquipment 2023-04-30 02602804 frs-core:NetGoodwill 2024-04-30 02602804 frs-core:NetGoodwill 2023-05-01 2024-04-30 02602804 frs-core:NetGoodwill 2023-04-30 02602804 frs-core:PlantMachinery 2024-04-30 02602804 frs-core:PlantMachinery 2023-05-01 2024-04-30 02602804 frs-core:PlantMachinery 2023-04-30 02602804 frs-core:WithinOneYear 2024-04-30 02602804 frs-core:ShareCapital 2024-04-30 02602804 frs-core:RetainedEarningsAccumulatedLosses 2024-04-30 02602804 frs-bus:PrivateLimitedCompanyLtd 2023-05-01 2024-04-30 02602804 frs-bus:FilletedAccounts 2023-05-01 2024-04-30 02602804 frs-bus:SmallEntities 2023-05-01 2024-04-30 02602804 frs-bus:AuditExempt-NoAccountantsReport 2023-05-01 2024-04-30 02602804 frs-bus:SmallCompaniesRegimeForAccounts 2023-05-01 2024-04-30 02602804 frs-bus:Director1 2023-05-01 2024-04-30 02602804 frs-bus:Director2 2023-05-01 2024-04-30 02602804 frs-countries:EnglandWales 2023-05-01 2024-04-30 02602804 2022-04-30 02602804 2023-04-30 02602804 2022-05-01 2023-04-30 02602804 frs-core:CurrentFinancialInstruments 2023-04-30 02602804 frs-core:Non-currentFinancialInstruments 2023-04-30 02602804 frs-core:BetweenOneFiveYears 2023-04-30 02602804 frs-core:WithinOneYear 2023-04-30 02602804 frs-core:ShareCapital 2023-04-30 02602804 frs-core:RetainedEarningsAccumulatedLosses 2023-04-30
Registered number: 02602804
MDT Reprographics Limited
Unaudited Financial Statements
For The Year Ended 30 April 2024
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—6
Page 1
Balance Sheet
Registered number: 02602804
2024 2023
Notes £ £ £ £
FIXED ASSETS
Intangible Assets 4 40 50
Tangible Assets 5 20,032 22,344
20,072 22,394
CURRENT ASSETS
Stocks 6 2,650 2,650
Debtors 7 97,780 105,769
Cash at bank and in hand 46,698 61,090
147,128 169,509
Creditors: Amounts Falling Due Within One Year 8 (94,340 ) (120,479 )
NET CURRENT ASSETS (LIABILITIES) 52,788 49,030
TOTAL ASSETS LESS CURRENT LIABILITIES 72,860 71,424
Creditors: Amounts Falling Due After More Than One Year 9 (29,169 ) (34,509 )
PROVISIONS FOR LIABILITIES
Deferred Taxation (3,806 ) (4,088 )
NET ASSETS 39,885 32,827
CAPITAL AND RESERVES
Called up share capital 10 2 2
Profit and Loss Account 39,883 32,825
SHAREHOLDERS' FUNDS 39,885 32,827
Page 1
Page 2
For the year ending 30 April 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 Terence Anthony Cowern
Director
Mr Paul George Cowern
Director
28 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
MDT Reprographics Limited is a private company, limited by shares, incorporated in England & Wales, registered number 02602804 . The registered office is Unit C1a, Stafford Park 4, Telford, Shropshire, TF3 3BA.
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. Intangible Fixed Assets and Amortisation - Goodwill
Goodwill is the difference between amounts paid on the acquisition of a business and the fair value of the separable net assets. It is amortised to profit and loss account over its estimated economic life of 10 years.
2.4. 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
Computer Equipment 25% Reducing balance
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.
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. 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 year 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
2.6. 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 asset reflects 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.
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.
3. Average Number of Employees
Average number of employees, including directors, during the year was:
2024 2023
Office and administration 2 3
Sales, marketing and distribution 2 2
4 5
4. Intangible Assets
Goodwill
£
Cost
As at 1 May 2023 100
As at 30 April 2024 100
Amortisation
As at 1 May 2023 50
Provided during the period 10
As at 30 April 2024 60
Net Book Value
As at 30 April 2024 40
As at 1 May 2023 50
5. Tangible Assets
Plant & Machinery Computer Equipment Total
£ £ £
Cost
As at 1 May 2023 128,942 4,859 133,801
Additions 1,705 2,661 4,366
As at 30 April 2024 130,647 7,520 138,167
Depreciation
As at 1 May 2023 108,589 2,868 111,457
Provided during the period 5,515 1,163 6,678
As at 30 April 2024 114,104 4,031 118,135
...CONTINUED
Page 4
Page 5
Net Book Value
As at 30 April 2024 16,543 3,489 20,032
As at 1 May 2023 20,353 1,991 22,344
6. Stocks
2024 2023
£ £
Materials 2,650 2,650
7. Debtors
2024 2023
£ £
Due within one year
Trade debtors 92,269 99,324
Prepayments and accrued income 3,479 4,880
Other debtors 950 1,450
Corporation tax recoverable assets - 115
Other taxes and social security 1,082 -
97,780 105,769
8. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 26,040 36,487
Bank loans and overdrafts 5,447 5,328
Corporation tax 6,591 7,689
Other taxes and social security - 614
VAT 10,212 13,998
Other creditors 2,031 3,180
Accruals and deferred income 18,921 19,621
Directors' loan accounts 25,098 33,562
94,340 120,479
9. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Bank loans 29,169 34,509
10. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 2 2
Page 5
Page 6
11. Other Commitments
The total of future minimum lease payments under non-cancellable operating leases are as following:
2024 2023
£ £
Not later than one year 18,603 7,430
Later than one year and not later than five years 54,733 9,447
73,336 16,877
Page 6