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 08138327 Miss Pauline Dickinson Mrs Jennifer Haselden Mr James Head Mr Lewis Windle Mr Mark Windle Mr Nathan Windle iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 08138327 2023-05-31 08138327 2024-05-31 08138327 2023-06-01 2024-05-31 08138327 frs-core:Non-currentFinancialInstruments 2024-05-31 08138327 frs-core:FurnitureFittings 2023-06-01 2024-05-31 08138327 frs-core:NetGoodwill 2023-06-01 2024-05-31 08138327 frs-core:LandBuildings frs-core:OwnedOrFreeholdAssets 2023-06-01 2024-05-31 08138327 frs-core:MotorVehicles 2023-06-01 2024-05-31 08138327 frs-core:PlantMachinery 2023-06-01 2024-05-31 08138327 frs-core:SharePremium 2024-05-31 08138327 frs-core:ShareCapital 2024-05-31 08138327 frs-core:RetainedEarningsAccumulatedLosses 2024-05-31 08138327 frs-bus:PrivateLimitedCompanyLtd 2023-06-01 2024-05-31 08138327 frs-bus:AbridgedAccounts 2023-06-01 2024-05-31 08138327 frs-bus:SmallEntities 2023-06-01 2024-05-31 08138327 frs-bus:AuditExempt-NoAccountantsReport 2023-06-01 2024-05-31 08138327 frs-bus:SmallCompaniesRegimeForAccounts 2023-06-01 2024-05-31 08138327 frs-core:CostValuation 2023-05-31 08138327 frs-core:CostValuation 2024-05-31 08138327 frs-bus:Director1 2023-06-01 2024-05-31 08138327 frs-bus:Director2 2023-06-01 2024-05-31 08138327 frs-bus:Director3 2023-06-01 2024-05-31 08138327 frs-bus:Director4 2023-06-01 2024-05-31 08138327 frs-bus:Director5 2023-06-01 2024-05-31 08138327 frs-bus:Director6 2023-06-01 2024-05-31 08138327 frs-countries:EnglandWales 2023-06-01 2024-05-31 08138327 2022-05-31 08138327 2023-05-31 08138327 2022-06-01 2023-05-31 08138327 frs-core:Non-currentFinancialInstruments 2023-05-31 08138327 frs-core:SharePremium 2023-05-31 08138327 frs-core:ShareCapital 2023-05-31 08138327 frs-core:RetainedEarningsAccumulatedLosses 2023-05-31
Registered number: 08138327
Ullswater Road Garage Limited
Unaudited ABRIDGED Financial Statements
For The Year Ended 31 May 2024
SeavorChartered
Chartered Accountants & Tax Advisers
Clifford Court
Cooper Way
Carlisle
Cumbria
CA3 0JG
Contents
Page
Abridged Balance Sheet 1—2
Notes to the Abridged Financial Statements 3—6
Page 1
Abridged Balance Sheet
Registered number: 08138327
2024 2023
Notes £ £ £ £
FIXED ASSETS
Intangible Assets 4 13,999 15,999
Tangible Assets 5 3,425,574 3,462,551
Investments 6 1,130 1,130
3,440,703 3,479,680
CURRENT ASSETS
Stocks 1,074,658 1,078,370
Debtors 278,029 277,733
Cash at bank and in hand 189,638 99,698
1,542,325 1,455,801
Creditors: Amounts Falling Due Within One Year (1,299,806 ) (1,163,654 )
NET CURRENT ASSETS (LIABILITIES) 242,519 292,147
TOTAL ASSETS LESS CURRENT LIABILITIES 3,683,222 3,771,827
Creditors: Amounts Falling Due After More Than One Year (402,707 ) (569,098 )
PROVISIONS FOR LIABILITIES
Deferred Taxation (119,145 ) (91,255 )
NET ASSETS 3,161,370 3,111,474
CAPITAL AND RESERVES
Called up share capital 8 11,234 11,234
Share premium account 388,740 388,740
Profit and Loss Account 2,761,396 2,711,500
SHAREHOLDERS' FUNDS 3,161,370 3,111,474
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Page 2
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 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.
All of the company's members have consented to the preparation of an Abridged Balance Sheet for the year end 31 May 2024 in accordance with section 444(2A) of the Companies Act 2006.
On behalf of the board
Mr Mark Windle
Director
25 September 2024
The notes on pages 3 to 6 form part of these financial statements.
Page 2
Page 3
Notes to the Abridged Financial Statements
1. General Information
Ullswater Road Garage Limited is a private company, limited by shares, incorporated in England & Wales, registered number 08138327 . The registered office is Unit 10 Ullswater Road Business Park, Ullswater Road, Penrith, Cumbria, CA11 7EH.
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
Goodwill is the difference between amounts paid on the acquisition of a business and the fair value of the separable net assets. It is amortised to profit and loss account over its estimated economic life of 18 years.
2.4. 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:
Freehold 2% straight line
Plant & Machinery 15% reducing balance
Motor Vehicles 25% reducing balance
Fixtures & Fittings 20% reducing balance
2.5. 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.
2.6. Financial Instruments
Classification
A financial asset or a financial liability is recognised only when the company becomes a party to the contractual provisions of the instrument.
Recognition and measurement
Basic financial instruments are initially recognised at the transaction price.
Impairment
Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately.
Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.
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2.7. 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.
2.8. 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.
2.9. Investments
Investments in equity shares which are publicly traded or where the fair value can be measured reliably are initially measured at fair value, with changes in fair value recognised in profit or loss. Investments in equity shares which are not publicly traded and where fair value cannot be measured reliably are measured at cost less impairment.
Interest income on debt securities, where applicable, is recognised in income using the effective interest method. Dividends on equity securities are recognised in income when receivable.
2.10. Borrowings
Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.
Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.
Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 33 (2023: 32)
33 32
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4. Intangible Assets
Total
£
Cost
As at 1 June 2023 36,333
As at 31 May 2024 36,333
Amortisation
As at 1 June 2023 20,334
Provided during the period 2,000
As at 31 May 2024 22,334
Net Book Value
As at 31 May 2024 13,999
As at 1 June 2023 15,999
5. Tangible Assets
Total
£
Cost
As at 1 June 2023 5,113,263
Additions 402,392
Disposals (394,091 )
As at 31 May 2024 5,121,564
Depreciation
As at 1 June 2023 1,650,712
Provided during the period 216,794
Disposals (171,516 )
As at 31 May 2024 1,695,990
Net Book Value
As at 31 May 2024 3,425,574
As at 1 June 2023 3,462,551
6. Investments
Total
£
Cost
As at 1 June 2023 1,130
As at 31 May 2024 1,130
Provision
As at 1 June 2023 -
As at 31 May 2024 -
Net Book Value
As at 31 May 2024 1,130
As at 1 June 2023 1,130
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7. Secured Creditors
Of the creditors the following amounts are secured:
2024 2023
£ £
Bank loans and overdrafts 507,640 653,216
8. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 11,234 11,234
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