Acorah Software Products - Accounts Production 16.1.200 false true 31 October 2023 1 November 2022 false 1 November 2023 31 October 2024 31 October 2024 04932095 Mr Frank Rushton Mr Christopher Rushton iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 04932095 2023-10-31 04932095 2024-10-31 04932095 2023-11-01 2024-10-31 04932095 frs-core:CurrentFinancialInstruments 2024-10-31 04932095 frs-core:ComputerEquipment 2024-10-31 04932095 frs-core:ComputerEquipment 2023-11-01 2024-10-31 04932095 frs-core:ComputerEquipment 2023-10-31 04932095 frs-core:FurnitureFittings 2024-10-31 04932095 frs-core:FurnitureFittings 2023-11-01 2024-10-31 04932095 frs-core:FurnitureFittings 2023-10-31 04932095 frs-core:MotorVehicles 2024-10-31 04932095 frs-core:MotorVehicles 2023-11-01 2024-10-31 04932095 frs-core:MotorVehicles 2023-10-31 04932095 frs-core:PlantMachinery 2024-10-31 04932095 frs-core:PlantMachinery 2023-11-01 2024-10-31 04932095 frs-core:PlantMachinery 2023-10-31 04932095 frs-core:ShareCapital 2024-10-31 04932095 frs-core:RetainedEarningsAccumulatedLosses 2024-10-31 04932095 frs-bus:PrivateLimitedCompanyLtd 2023-11-01 2024-10-31 04932095 frs-bus:FilletedAccounts 2023-11-01 2024-10-31 04932095 frs-bus:SmallEntities 2023-11-01 2024-10-31 04932095 frs-bus:AuditExempt-NoAccountantsReport 2023-11-01 2024-10-31 04932095 frs-bus:SmallCompaniesRegimeForAccounts 2023-11-01 2024-10-31 04932095 frs-bus:Director1 2023-11-01 2024-10-31 04932095 frs-bus:Director2 2023-11-01 2024-10-31 04932095 frs-countries:EnglandWales 2023-11-01 2024-10-31 04932095 2022-10-31 04932095 2023-10-31 04932095 2022-11-01 2023-10-31 04932095 frs-core:CurrentFinancialInstruments 2023-10-31 04932095 frs-core:ShareCapital 2023-10-31 04932095 frs-core:RetainedEarningsAccumulatedLosses 2023-10-31
FTR Limited
Financial Statements
For The Year Ended 31 October 2024
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 04932095
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 110,961 51,173
110,961 51,173
CURRENT ASSETS
Stocks 5 500 500
Debtors 6 25,686 30,988
Cash at bank and in hand 140,898 141,521
167,084 173,009
Creditors: Amounts Falling Due Within One Year 7 (115,549 ) (125,851 )
NET CURRENT ASSETS (LIABILITIES) 51,535 47,158
TOTAL ASSETS LESS CURRENT LIABILITIES 162,496 98,331
PROVISIONS FOR LIABILITIES
Deferred Taxation 8 (32,508 ) (9,162 )
NET ASSETS 129,988 89,169
CAPITAL AND RESERVES
Called up share capital 9 2 2
Profit and Loss Account 129,986 89,167
SHAREHOLDERS' FUNDS 129,988 89,169
Page 1
Page 2
For the year ending 31 October 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 Frank Rushton
Director
6 January 2025
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
FTR Limited is a private company, limited by shares, incorporated in England & Wales, registered number 04932095 . The registered office is 103 Byrds Lane, Uttoxeter, Staffordshire, ST14 7LW.
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% on Reducing balance
Motor Vehicles 25% on Reducing balance
Fixtures & Fittings 25% on Reducing balance
Computer Equipment 33% Straight line
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 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.
Page 3
Page 4
3. Average Number of Employees
Average number of employees, including directors, during the year was: 4 (2023: 4)
4 4
4. Tangible Assets
Plant & Machinery Motor Vehicles Fixtures & Fittings Computer Equipment Total
£ £ £ £ £
Cost
As at 1 November 2023 110,880 45,948 9,789 343 166,960
Additions - 80,195 19,000 - 99,195
Disposals - (45,948 ) - - (45,948 )
As at 31 October 2024 110,880 80,195 28,789 343 220,207
Depreciation
As at 1 November 2023 86,463 20,520 8,804 - 115,787
Provided during the period 6,104 (17,359 ) 4,600 114 (6,541 )
As at 31 October 2024 92,567 3,161 13,404 114 109,246
Net Book Value
As at 31 October 2024 18,313 77,034 15,385 229 110,961
As at 1 November 2023 24,417 25,428 985 343 51,173
5. Stocks
2024 2023
£ £
Stock 500 500
6. Debtors
2024 2023
£ £
Due within one year
Trade debtors 25,686 29,581
Other debtors - 1,407
25,686 30,988
7. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 2,876 766
Other creditors 95,575 105,422
Taxation and social security 17,098 19,663
115,549 125,851
8. Deferred Taxation
The provision for deferred tax is made up as follows:
2024 2023
£ £
Other timing differences 32,508 9,162
Page 4
Page 5
9. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 2 2
Page 5