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Registered number: 03968042
Fenton Precision Engineering Limited
Unaudited Financial Statements
For The Year Ended 30 September 2024
CBTax
17 Grovelands Business Park
West Haddon Road
East Haddon
Northamptonshire
NN6 8FB
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—7
Page 1
Balance Sheet
Registered number: 03968042
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 5 658,099 536,462
658,099 536,462
CURRENT ASSETS
Stocks 6 1,498,147 1,297,317
Debtors 7 2,484,506 2,479,230
Cash at bank and in hand 12,512 74,116
3,995,165 3,850,663
Creditors: Amounts Falling Due Within One Year 8 (1,761,357 ) (1,400,721 )
NET CURRENT ASSETS (LIABILITIES) 2,233,808 2,449,942
TOTAL ASSETS LESS CURRENT LIABILITIES 2,891,907 2,986,404
Creditors: Amounts Falling Due After More Than One Year 9 (269,255 ) (436,084 )
PROVISIONS FOR LIABILITIES
Deferred Taxation (151,475 ) (123,975 )
NET ASSETS 2,471,177 2,426,345
CAPITAL AND RESERVES
Called up share capital 11 100 100
Profit and Loss Account 2,471,077 2,426,245
SHAREHOLDERS' FUNDS 2,471,177 2,426,345
Page 1
Page 2
For the year ending 30 September 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
S P Timson
Director
N J Skidmore
Director
02/01/2025
The notes on pages 3 to 7 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Fenton Precision Engineering Limited is a private company, limited by shares, incorporated in England & Wales, registered number 03968042 . The registered office is Finedon Sidings, Furnace Lane, Finedon Wellingborough, Northamptonshire, NN9 5NY.
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
Amortisation is calculated so as to write off the cost of the asset, less its estimated residual value, over the useful economic life of the asset as follows:
Goodwill on 10% straight line
Goodwill recognised separately as an intangible asset is tested for impairment annually and whenever there is indication that the goodwill may be impaired. An impairment loss on goodwill is recognised as an expense and is not reversed in a susequent period. 
2.4. Intangible Fixed Assets and Amortisation - Other Intangible
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measued at cost less any accumulated amortisation and any accumulated impairment losses.
2.5. 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:
Leasehold Over the lease period
Plant & Machinery 20% on reducing balance
Motor Vehicles 25% on reducing balance
Fixtures & Fittings 20% on reducing balance
Computer Equipment 33.33% & 50% on reducing balance
Please note that computer equipment depreciation is split into two categories: Plant & Office. As such, the depreciation rates as outlined above reflect these categories retrospectively. 
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2.6. 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.
2.7. 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.
2.8. 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.
2.9. 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 and deferred tax are recognised in profit or loss for the year, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case current and deferred tax are recognised in other comprehensive income or directly in equity respectively.
2.10. Pensions
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.
2.11. Debtors and creditors
Debtors receivable / creditors payable within one year are measured at transaction price (less any impairmnet losses on debtors for bad and doubtful debts). Loans and other financial assets / liabilities are initially measured at transaction price and subsequently measured at amortised cost determined using the effective interest rate method (less any impairment losses on debtors) for bad and doubtful debts.
Any losses arising from impairment are recognised in the profit and loss account. 
3. Average Number of Employees
Average number of employees, including directors, during the year was: 103 (2023: 88)
103 88
Page 4
Page 5
4. Intangible Assets
Goodwill
£
Cost
As at 1 October 2023 48,003
As at 30 September 2024 48,003
Amortisation
As at 1 October 2023 48,003
As at 30 September 2024 48,003
Net Book Value
As at 30 September 2024 -
As at 1 October 2023 -
5. Tangible Assets
Land & Property
Leasehold Plant & Machinery Motor Vehicles Fixtures & Fittings
£ £ £ £
Cost
As at 1 October 2023 43,324 1,472,078 24,040 11,702
Additions 17,660 239,034 29,490 1,368
Disposals - (19,099 ) (22,990 ) -
As at 30 September 2024 60,984 1,692,013 30,540 13,070
Depreciation
As at 1 October 2023 9,502 990,160 12,496 11,014
Provided during the period 20,842 123,754 4,687 206
Disposals - (15,320 ) (12,618 ) -
As at 30 September 2024 30,344 1,098,594 4,565 11,220
Net Book Value
As at 30 September 2024 30,640 593,419 25,975 1,850
As at 1 October 2023 33,822 481,918 11,544 688
Computer Equipment Total
£ £
Cost
As at 1 October 2023 205,982 1,757,126
Additions 2,121 289,673
Disposals - (42,089 )
As at 30 September 2024 208,103 2,004,710
...CONTINUED
Page 5
Page 6
Depreciation
As at 1 October 2023 197,492 1,220,664
Provided during the period 4,396 153,885
Disposals - (27,938 )
As at 30 September 2024 201,888 1,346,611
Net Book Value
As at 30 September 2024 6,215 658,099
As at 1 October 2023 8,490 536,462
Land & Property - Leasehold relates to the improvements of a leasehold property. 
6. Stocks
2024 2023
£ £
Stock 1,498,147 1,297,317
7. Debtors
2024 2023
£ £
Due within one year
Trade debtors 854,018 819,358
Prepayments and accrued income 94,574 92,946
Corporation tax recoverable assets 29,393 26,618
Deferred tax current asset 2,619 2,775
Amounts owed by group undertakings 1,503,902 1,537,533
2,484,506 2,479,230
8. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Net obligations under finance lease and hire purchase contracts 117,553 91,383
Trade creditors 679,074 701,108
Bank loans and overdrafts 104,167 -
Corporation tax (163,421 ) (205,068 )
Other taxes and social security 61,104 26,656
VAT 249,349 125,278
Other creditors 546,684 482,988
Accruals and deferred income 166,847 178,376
1,761,357 1,400,721
Included within accruals and deferred income is £10,475 owed to the pension. 
9. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Net obligations under finance lease and hire purchase contracts 237,201 187,363
Bank loans 32,054 248,721
269,255 436,084
Page 6
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10. Obligations Under Finance Leases and Hire Purchase
2024 2023
£ £
The future minimum finance lease payments are as follows:
Not later than one year 117,553 91,383
Later than one year and not later than five years 237,201 187,363
354,754 278,746
354,754 278,746
11. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 100 100
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