Acorah Software Products - Accounts Production 15.0.600 false true 30 June 2023 1 July 2022 false 1 July 2023 30 June 2024 30 June 2024 09622787 Mr Mark Moon Mr Greg Bull iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 09622787 2023-06-30 09622787 2024-06-30 09622787 2023-07-01 2024-06-30 09622787 frs-core:CurrentFinancialInstruments 2024-06-30 09622787 frs-core:Non-currentFinancialInstruments 2024-06-30 09622787 frs-core:ComputerEquipment 2024-06-30 09622787 frs-core:ComputerEquipment 2023-07-01 2024-06-30 09622787 frs-core:ComputerEquipment 2023-06-30 09622787 frs-core:FurnitureFittings 2024-06-30 09622787 frs-core:FurnitureFittings 2023-07-01 2024-06-30 09622787 frs-core:FurnitureFittings 2023-06-30 09622787 frs-core:MotorVehicles 2024-06-30 09622787 frs-core:MotorVehicles 2023-07-01 2024-06-30 09622787 frs-core:MotorVehicles 2023-06-30 09622787 frs-core:PlantMachinery 2024-06-30 09622787 frs-core:PlantMachinery 2023-07-01 2024-06-30 09622787 frs-core:PlantMachinery 2023-06-30 09622787 frs-core:ShareCapital 2024-06-30 09622787 frs-core:RetainedEarningsAccumulatedLosses 2024-06-30 09622787 frs-bus:PrivateLimitedCompanyLtd 2023-07-01 2024-06-30 09622787 frs-bus:FilletedAccounts 2023-07-01 2024-06-30 09622787 frs-bus:SmallEntities 2023-07-01 2024-06-30 09622787 frs-bus:AuditExempt-NoAccountantsReport 2023-07-01 2024-06-30 09622787 frs-bus:SmallCompaniesRegimeForAccounts 2023-07-01 2024-06-30 09622787 frs-bus:Director1 2023-07-01 2024-06-30 09622787 frs-bus:Director2 2023-07-01 2024-06-30 09622787 frs-countries:EnglandWales 2023-07-01 2024-06-30 09622787 2022-06-30 09622787 2023-06-30 09622787 2022-07-01 2023-06-30 09622787 frs-core:CurrentFinancialInstruments 2023-06-30 09622787 frs-core:Non-currentFinancialInstruments 2023-06-30 09622787 frs-core:ShareCapital 2023-06-30 09622787 frs-core:RetainedEarningsAccumulatedLosses 2023-06-30
Registered number: 09622787
Automotive Solutions (Staffs) Limited
Unaudited Financial Statements
For The Year Ended 30 June 2024
Sempar Accountancy and Tax Limited
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 09622787
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 104,505 95,189
104,505 95,189
CURRENT ASSETS
Stocks 5 13,450 13,450
Debtors 6 115,413 94,139
Cash at bank and in hand 51,087 38,659
179,950 146,248
Creditors: Amounts Falling Due Within One Year 7 (141,460 ) (123,278 )
NET CURRENT ASSETS (LIABILITIES) 38,490 22,970
TOTAL ASSETS LESS CURRENT LIABILITIES 142,995 118,159
Creditors: Amounts Falling Due After More Than One Year 8 (102,180 ) (93,841 )
PROVISIONS FOR LIABILITIES
Deferred Taxation (16,214 ) (23,797 )
NET ASSETS 24,601 521
CAPITAL AND RESERVES
Called up share capital 10 100 100
Profit and Loss Account 24,501 421
SHAREHOLDERS' FUNDS 24,601 521
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For the year ending 30 June 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 Mark Moon
Director
Mr Greg Bull
Director
20 November 2024
The notes on pages 3 to 5 form part of these financial statements.
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Notes to the Financial Statements
1. General Information
Automotive Solutions (Staffs) Limited is a private company, limited by shares, incorporated in England & Wales, registered number 09622787 . The registered office is Unit 9 Stone Enterprise Centre, Emerald Way, Stone, Staffordshire, ST15 0SR.
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 20% straightline
Motor Vehicles 20% straightline
Fixtures & Fittings 20% straightline
Computer Equipment 33% straightline/20% straightline
2.4. 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.
2.5. 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 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.
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.
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2.6. 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: 9 (2023: 9)
9 9
4. Tangible Assets
Plant & Machinery Motor Vehicles Fixtures & Fittings Computer Equipment Total
£ £ £ £ £
Cost
As at 1 July 2023 5,223 141,332 5,494 7,926 159,975
Additions - 48,397 - 1,398 49,795
As at 30 June 2024 5,223 189,729 5,494 9,324 209,770
Depreciation
As at 1 July 2023 4,427 52,510 1,099 6,750 64,786
Provided during the period 237 37,946 1,099 1,197 40,479
As at 30 June 2024 4,664 90,456 2,198 7,947 105,265
Net Book Value
As at 30 June 2024 559 99,273 3,296 1,377 104,505
As at 1 July 2023 796 88,822 4,395 1,176 95,189
5. Stocks
2024 2023
£ £
Materials 10,000 10,000
Work in progress 3,450 3,450
13,450 13,450
6. Debtors
2024 2023
£ £
Due within one year
Trade debtors 111,507 91,732
Other debtors 1,400 1,400
Amounts owed by other participating interests 2,506 1,007
115,413 94,139
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7. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Net obligations under finance lease and hire purchase contracts 33,990 23,723
Trade creditors 1,290 2,210
Bank loans and overdrafts 3,677 10,015
Corporation tax 42,381 35,918
Other taxes and social security 5,849 4,381
VAT 45,445 41,439
Other creditors 1,444 2,544
Accruals and deferred income 2,316 2,316
Directors' loan accounts 5,068 732
141,460 123,278
8. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Net obligations under finance lease and hire purchase contracts 83,240 73,953
Bank loans 18,940 19,888
102,180 93,841
9. Secured Creditors
Of the creditors the following amounts are secured.
2024 2023
£ £
Net obligations under finance lease and hire purchase contracts 117,230 97,676
10. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 100 100
11. Directors Advances, Credits and Guarantees
Aggregate dividends paid to the directors during the year were £100,000 (2023: £100,875).
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