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 06513012 Ms Carlette Maher Miss Victoria Maher iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 06513012 2023-03-31 06513012 2024-03-31 06513012 2023-04-01 2024-03-31 06513012 frs-core:CurrentFinancialInstruments 2024-03-31 06513012 frs-core:Non-currentFinancialInstruments 2024-03-31 06513012 frs-core:ComputerEquipment 2024-03-31 06513012 frs-core:ComputerEquipment 2023-04-01 2024-03-31 06513012 frs-core:ComputerEquipment 2023-03-31 06513012 frs-core:FurnitureFittings 2024-03-31 06513012 frs-core:FurnitureFittings 2023-04-01 2024-03-31 06513012 frs-core:FurnitureFittings 2023-03-31 06513012 frs-core:MotorVehicles 2024-03-31 06513012 frs-core:MotorVehicles 2023-04-01 2024-03-31 06513012 frs-core:MotorVehicles 2023-03-31 06513012 frs-core:PlantMachinery 2024-03-31 06513012 frs-core:PlantMachinery 2023-04-01 2024-03-31 06513012 frs-core:PlantMachinery 2023-03-31 06513012 frs-core:CapitalRedemptionReserve 2024-03-31 06513012 frs-core:ShareCapital 2024-03-31 06513012 frs-core:RetainedEarningsAccumulatedLosses 2024-03-31 06513012 frs-bus:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 06513012 frs-bus:FilletedAccounts 2023-04-01 2024-03-31 06513012 frs-bus:SmallEntities 2023-04-01 2024-03-31 06513012 frs-bus:AuditExempt-NoAccountantsReport 2023-04-01 2024-03-31 06513012 frs-bus:SmallCompaniesRegimeForAccounts 2023-04-01 2024-03-31 06513012 frs-bus:OrdinaryShareClass1 2023-04-01 2024-03-31 06513012 frs-bus:OrdinaryShareClass1 2024-03-31 06513012 frs-core:UnlistedNon-exchangeTraded 2024-03-31 06513012 frs-core:UnlistedNon-exchangeTraded 2023-03-31 06513012 frs-core:CostValuation frs-core:UnlistedNon-exchangeTraded 2023-03-31 06513012 frs-core:CostValuation frs-core:UnlistedNon-exchangeTraded 2024-03-31 06513012 frs-core:ProvisionsForImpairmentInvestments frs-core:UnlistedNon-exchangeTraded 2023-03-31 06513012 frs-core:ProvisionsForImpairmentInvestments frs-core:UnlistedNon-exchangeTraded 2024-03-31 06513012 frs-bus:Director1 2023-04-01 2024-03-31 06513012 frs-bus:Director1 2023-03-31 06513012 frs-bus:Director1 2024-03-31 06513012 frs-bus:Director2 2023-04-01 2024-03-31 06513012 frs-core:CurrentFinancialInstruments 2 2024-03-31 06513012 frs-core:Non-currentFinancialInstruments 2 2024-03-31 06513012 frs-countries:EnglandWales 2023-04-01 2024-03-31 06513012 2022-03-31 06513012 2023-03-31 06513012 2022-04-01 2023-03-31 06513012 frs-core:CurrentFinancialInstruments 2023-03-31 06513012 frs-core:Non-currentFinancialInstruments 2023-03-31 06513012 frs-core:CapitalRedemptionReserve 2023-03-31 06513012 frs-core:ShareCapital 2023-03-31 06513012 frs-core:RetainedEarningsAccumulatedLosses 2023-03-31 06513012 frs-bus:OrdinaryShareClass1 2022-04-01 2023-03-31 06513012 frs-core:CurrentFinancialInstruments 2 2023-03-31 06513012 frs-core:Non-currentFinancialInstruments 2 2023-03-31
Registered number: 06513012
Monarch - ELS Limited
Unaudited Financial Statements
For The Year Ended 31 March 2024
Bickerstaff & Co Limited
Chartered Accountants
Emerald House 20-22 Anchor Road
Walsall
WS9 8PH
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 06513012
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 81,911 58,770
Investments 5 1,000 1,000
82,911 59,770
CURRENT ASSETS
Debtors 6 1,420,152 1,724,231
Cash at bank and in hand 4,217,427 3,584,753
5,637,579 5,308,984
Creditors: Amounts Falling Due Within One Year 7 (1,512,285 ) (1,631,841 )
NET CURRENT ASSETS (LIABILITIES) 4,125,294 3,677,143
TOTAL ASSETS LESS CURRENT LIABILITIES 4,208,205 3,736,913
PROVISIONS FOR LIABILITIES
Deferred Taxation (6,689 ) (6,689 )
NET ASSETS 4,201,516 3,730,224
CAPITAL AND RESERVES
Called up share capital 8 217 217
Capital redemption reserve 66 66
Profit and Loss Account 4,201,233 3,729,941
SHAREHOLDERS' FUNDS 4,201,516 3,730,224
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
Ms Carlette Maher
Director
26 November 2024
The notes on pages 3 to 5 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Monarch - ELS Limited is a private company, limited by shares, incorporated in England & Wales, registered number 06513012 . The registered office is Unit E1, Middlemore Lane West, Aldridge, Walsall, WS9 8DT.
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% per annum on written down value
Motor Vehicles 25% per annum on written down value
Fixtures & Fittings 25% per annum on written down value
Computer Equipment 25% per annum on written down value
2.4. Foreign Currencies
Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate ruling on the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
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.
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.
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Page 4
3. Average Number of Employees
Average number of employees, including directors, during the year was: 13 (2023: 9)
13 9
4. Tangible Assets
Plant & Machinery Motor Vehicles Fixtures & Fittings Computer Equipment Total
£ £ £ £ £
Cost
As at 1 April 2023 13,427 117,642 1,109 20,961 153,139
Additions - 85,912 - - 85,912
Disposals - (85,445 ) - - (85,445 )
As at 31 March 2024 13,427 118,109 1,109 20,961 153,606
Depreciation
As at 1 April 2023 6,505 66,902 942 20,020 94,369
Provided during the period 1,730 25,294 42 235 27,301
Disposals - (49,975 ) - - (49,975 )
As at 31 March 2024 8,235 42,221 984 20,255 71,695
Net Book Value
As at 31 March 2024 5,192 75,888 125 706 81,911
As at 1 April 2023 6,922 50,740 167 941 58,770
5. Investments
Unlisted
£
Cost
As at 1 April 2023 1,000
As at 31 March 2024 1,000
Provision
As at 1 April 2023 -
As at 31 March 2024 -
Net Book Value
As at 31 March 2024 1,000
As at 1 April 2023 1,000
6. Debtors
2024 2023
£ £
Due within one year
Trade debtors 803,668 1,016,518
Prepayments and accrued income 7,387 (3,150 )
VAT 84,944 125,835
Directors' loan accounts - 21,324
Amounts owed by group undertakings 481,983 481,983
1,377,982 1,642,510
...CONTINUED
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Page 5
Due after more than one year
Advance Corporation Tax recoverable - 9,560
Other debtors (2) 42,170 72,161
42,170 81,721
1,420,152 1,724,231
7. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 699,167 678,059
Bank loans and overdrafts 643 1,872
Corporation tax 158,945 84,836
Other taxes and social security 5,382 3,295
Net wages 7,676 -
Other creditors 294,548 625,996
Student loan (1,841 ) -
Accruals and deferred income 293,616 237,783
Directors' loan accounts 54,149 -
1,512,285 1,631,841
8. Share Capital
2024 2023
Allotted, called up and fully paid £ £
217 Ordinary Shares of £ 1.000 each 217 217
9. 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
£ £ £ £ £
Ms Carlette Maher 21,324 - - - -
The above loan is unsecured, interest free and repayable on demand.
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