Acorah Software Products - Accounts Production 16.1.200 false true 31 May 2023 1 June 2022 false 1 June 2023 31 May 2024 31 May 2024 05033827 Mr N G Painter Mrs T M Painter iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 05033827 2023-05-31 05033827 2024-05-31 05033827 2023-06-01 2024-05-31 05033827 frs-core:CurrentFinancialInstruments 2024-05-31 05033827 frs-core:Non-currentFinancialInstruments 2024-05-31 05033827 frs-core:ComputerEquipment 2023-06-01 2024-05-31 05033827 frs-core:MotorVehicles 2023-06-01 2024-05-31 05033827 frs-core:PlantMachinery 2024-05-31 05033827 frs-core:PlantMachinery 2023-06-01 2024-05-31 05033827 frs-core:PlantMachinery 2023-05-31 05033827 frs-core:ShareCapital 2024-05-31 05033827 frs-core:RetainedEarningsAccumulatedLosses 2024-05-31 05033827 frs-bus:PrivateLimitedCompanyLtd 2023-06-01 2024-05-31 05033827 frs-bus:FilletedAccounts 2023-06-01 2024-05-31 05033827 frs-bus:SmallEntities 2023-06-01 2024-05-31 05033827 frs-bus:AuditExempt-NoAccountantsReport 2023-06-01 2024-05-31 05033827 frs-bus:SmallCompaniesRegimeForAccounts 2023-06-01 2024-05-31 05033827 frs-bus:Director1 2023-06-01 2024-05-31 05033827 frs-bus:Director1 2023-05-31 05033827 frs-bus:Director1 2024-05-31 05033827 frs-bus:CompanySecretary1 2023-06-01 2024-05-31 05033827 frs-countries:EnglandWales 2023-06-01 2024-05-31 05033827 2022-05-31 05033827 2023-05-31 05033827 2022-06-01 2023-05-31 05033827 frs-core:CurrentFinancialInstruments 2023-05-31 05033827 frs-core:Non-currentFinancialInstruments 2023-05-31 05033827 frs-core:ShareCapital 2023-05-31 05033827 frs-core:RetainedEarningsAccumulatedLosses 2023-05-31
Registered number: 05033827
PC Cables Limited
Unaudited Financial Statements
For The Year Ended 31 May 2024
Unaudited Financial Statements
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 05033827
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 76,006 75,010
76,006 75,010
CURRENT ASSETS
Debtors 5 618,430 399,368
Cash at bank and in hand 722,135 499,603
1,340,565 898,971
Creditors: Amounts Falling Due Within One Year 6 (291,807 ) (158,556 )
NET CURRENT ASSETS (LIABILITIES) 1,048,758 740,415
TOTAL ASSETS LESS CURRENT LIABILITIES 1,124,764 815,425
Creditors: Amounts Falling Due After More Than One Year 7 (2,027 ) (5,890 )
PROVISIONS FOR LIABILITIES
Deferred Taxation (19,659 ) (14,690 )
NET ASSETS 1,103,078 794,845
CAPITAL AND RESERVES
Called up share capital 9 100 100
Profit and Loss Account 1,102,978 794,745
SHAREHOLDERS' FUNDS 1,103,078 794,845
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For the year ending 31 May 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his 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 N G Painter
Director
7 January 2025
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
PC Cables Limited is a private company, limited by shares, incorporated in England & Wales, registered number 05033827 . The registered office is 183 Walsall Road, Great Wyrley, Walsall, WS6 6NL.
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.
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% reducing balance
Motor Vehicles 25% reducing balance
Computer Equipment 25% reducing balance
2.4. 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.
2.5. 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 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.
2.6. 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.
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2.7. Government Grant
Grants for immediate financial support or to cover costs already incurred are recognised immediately in the profit and loss account.
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: 13 (2023: 10)
13 10
4. Tangible Assets
Plant & Machinery etc.
£
Cost
As at 1 June 2023 151,063
Additions 30,045
As at 31 May 2024 181,108
Depreciation
As at 1 June 2023 76,053
Provided during the period 29,049
As at 31 May 2024 105,102
Net Book Value
As at 31 May 2024 76,006
As at 1 June 2023 75,010
5. Debtors
2024 2023
£ £
Due within one year
Trade debtors 463,485 240,142
Other debtors 154,945 159,226
618,430 399,368
6. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Net obligations under finance lease and hire purchase contracts 3,946 3,946
Trade creditors 138,801 58,088
Other creditors 27,662 25,110
Taxation and social security 121,398 71,412
291,807 158,556
7. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Net obligations under finance lease and hire purchase contracts 2,027 5,890
2,027 5,890
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8. Secured Creditors
The following amounts are secured on the asset to which they relate.
2024 2023
£ £
Net obligations under finance lease and hire purchase contracts 5,973 9,836
9. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 100 100
10. Directors Advances, Credits and Guarantees
Included within Debtors are the following loans to directors which are repayable on demand and interest free.
As at 1 June 2023 Amounts advanced Amounts repaid Amounts written off As at 31 May 2024
£ £ £ £ £
Mr Neil Painter 59,604 - 15,750 - 43,854
The loan is provided interest free and is repayable on demand.
11. Off-Balance Sheet Arrangements
At the year end the company had lease commitments of £2,684 (2023 - £10,081).
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