Acorah Software Products - Accounts Production 16.0.110 false true 30 April 2023 1 May 2022 false 1 May 2023 30 April 2024 30 April 2024 07903334 Mr James Morley Mrs Andrea Benson iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 07903334 2023-04-30 07903334 2024-04-30 07903334 2023-05-01 2024-04-30 07903334 frs-core:CurrentFinancialInstruments 2024-04-30 07903334 frs-core:Non-currentFinancialInstruments 2024-04-30 07903334 frs-core:BetweenOneFiveYears 2024-04-30 07903334 frs-core:ComputerEquipment 2024-04-30 07903334 frs-core:ComputerEquipment 2023-05-01 2024-04-30 07903334 frs-core:ComputerEquipment 2023-04-30 07903334 frs-core:FurnitureFittings 2024-04-30 07903334 frs-core:FurnitureFittings 2023-05-01 2024-04-30 07903334 frs-core:FurnitureFittings 2023-04-30 07903334 frs-core:NetGoodwill 2024-04-30 07903334 frs-core:NetGoodwill 2023-05-01 2024-04-30 07903334 frs-core:NetGoodwill 2023-04-30 07903334 frs-core:MotorVehicles 2024-04-30 07903334 frs-core:MotorVehicles 2023-05-01 2024-04-30 07903334 frs-core:MotorVehicles 2023-04-30 07903334 frs-core:PlantMachinery 2024-04-30 07903334 frs-core:PlantMachinery 2023-05-01 2024-04-30 07903334 frs-core:PlantMachinery 2023-04-30 07903334 frs-core:WithinOneYear 2024-04-30 07903334 frs-core:ShareCapital 2024-04-30 07903334 frs-core:RetainedEarningsAccumulatedLosses 2024-04-30 07903334 frs-bus:PrivateLimitedCompanyLtd 2023-05-01 2024-04-30 07903334 frs-bus:FilletedAccounts 2023-05-01 2024-04-30 07903334 frs-bus:SmallEntities 2023-05-01 2024-04-30 07903334 frs-bus:AuditExempt-NoAccountantsReport 2023-05-01 2024-04-30 07903334 frs-bus:SmallCompaniesRegimeForAccounts 2023-05-01 2024-04-30 07903334 frs-bus:Director1 2023-05-01 2024-04-30 07903334 frs-bus:Director2 2023-05-01 2024-04-30 07903334 frs-countries:EnglandWales 2023-05-01 2024-04-30 07903334 2022-04-30 07903334 2023-04-30 07903334 2022-05-01 2023-04-30 07903334 frs-core:CurrentFinancialInstruments 2023-04-30 07903334 frs-core:Non-currentFinancialInstruments 2023-04-30 07903334 frs-core:BetweenOneFiveYears 2023-04-30 07903334 frs-core:MoreThanFiveYears 2023-04-30 07903334 frs-core:MotorVehicles 2022-05-01 2023-04-30 07903334 frs-core:PlantMachinery 2022-05-01 2023-04-30 07903334 frs-core:WithinOneYear 2023-04-30 07903334 frs-core:ShareCapital 2023-04-30 07903334 frs-core:RetainedEarningsAccumulatedLosses 2023-04-30
Registered number: 07903334
J W Morley Transport Limited
Unaudited Financial Statements
For The Year Ended 30 April 2024
SFB Group Limited
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—6
Page 1
Balance Sheet
Registered number: 07903334
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 5 1,715,862 1,428,428
1,715,862 1,428,428
CURRENT ASSETS
Debtors 6 542,837 719,978
Cash at bank and in hand 317,723 222,614
860,560 942,592
Creditors: Amounts Falling Due Within One Year 7 (654,548 ) (580,576 )
NET CURRENT ASSETS (LIABILITIES) 206,012 362,016
TOTAL ASSETS LESS CURRENT LIABILITIES 1,921,874 1,790,444
Creditors: Amounts Falling Due After More Than One Year 8 (590,114 ) (693,345 )
PROVISIONS FOR LIABILITIES
Deferred Taxation (417,376 ) (264,001 )
NET ASSETS 914,384 833,098
CAPITAL AND RESERVES
Called up share capital 10 105 105
Profit and Loss Account 914,279 832,993
SHAREHOLDERS' FUNDS 914,384 833,098
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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 James Morley
Director
02/12/2024
The notes on pages 3 to 6 form part of these financial statements.
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Notes to the Financial Statements
1. General Information
J W Morley Transport Limited is a private company, limited by shares, incorporated in England & Wales, registered number 07903334 . The registered office is Manor Court Chambers, Townsend Drive, Nuneaton, Warwickshire, CV11 6RU.
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.
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
Motor Vehicles 10% reducing balance
Fixtures & Fittings 25% reducing balance
Computer Equipment 20% straight line
2.5. 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.
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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 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.
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.
2.7. Government Grant
Government grants are recognised in the profit and loss account in an appropriate manner that matches them with the expenditure towards which they are intended to contribute.
Grants for immediate financial support or to cover costs already incurred are recognised immediately in the profit and loss account. Grants towards general activities of the entity over a specific period are recognised in the profit and loss account over that period.
Grants towards fixed assets are recognised over the expected useful lives of the related assets and are treated as deferred income and released to the profit and loss account over the useful life of the asset concerned.
All grants in the profit and loss account are recognised when all conditions for receipt have been complied with.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 20 (2023: 20)
20 20
4. Intangible Assets
Goodwill
£
Cost
As at 1 May 2023 500,000
As at 30 April 2024 500,000
Amortisation
As at 1 May 2023 500,000
As at 30 April 2024 500,000
Net Book Value
As at 30 April 2024 -
As at 1 May 2023 -
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5. Tangible Assets
Plant & Machinery Motor Vehicles Fixtures & Fittings Computer Equipment Total
£ £ £ £ £
Cost
As at 1 May 2023 493,316 1,761,572 11,793 15,374 2,282,055
Additions 5,400 591,652 - 2,931 599,983
Disposals - (193,356 ) - (667 ) (194,023 )
As at 30 April 2024 498,716 2,159,868 11,793 17,638 2,688,015
Depreciation
As at 1 May 2023 230,403 607,705 6,873 8,646 853,627
Provided during the period 67,080 170,183 1,230 2,267 240,760
Disposals - (121,567 ) - (667 ) (122,234 )
As at 30 April 2024 297,483 656,321 8,103 10,246 972,153
Net Book Value
As at 30 April 2024 201,233 1,503,547 3,690 7,392 1,715,862
As at 1 May 2023 262,913 1,153,867 4,920 6,728 1,428,428
Included above are assets held under finance leases or hire purchase contracts with a net book value as follows:
2024 2023
£ £
Plant & Machinery 81,608 108,812
Motor Vehicles 1,228,075 918,039
1,309,683 1,026,851
6. Debtors
2024 2023
£ £
Due within one year
Trade debtors 488,412 622,344
Other debtors 54,425 97,634
542,837 719,978
7. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Net obligations under finance lease and hire purchase contracts 393,281 234,688
Trade creditors 47,500 105,764
Other creditors 160,623 205,655
Taxation and social security 53,144 34,469
654,548 580,576
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8. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Net obligations under finance lease and hire purchase contracts 590,114 693,345
9. Obligations Under Finance Leases and Hire Purchase
2024 2023
£ £
The future minimum finance lease payments are as follows:
Not later than one year 393,281 234,688
Later than one year and not later than five years 590,114 583,221
Later than five years - 110,124
983,395 928,033
983,395 928,033
10. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 105 105
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