Acorah Software Products - Accounts Production 16.1.200 false true 30 April 2023 1 May 2022 false 1 May 2023 30 April 2024 30 April 2024 04385035 Mr D Sharpe iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 04385035 2023-04-30 04385035 2024-04-30 04385035 2023-05-01 2024-04-30 04385035 frs-core:CurrentFinancialInstruments 2024-04-30 04385035 frs-core:Non-currentFinancialInstruments 2024-04-30 04385035 frs-core:ComputerEquipment 2023-05-01 2024-04-30 04385035 frs-core:LandBuildings 2024-04-30 04385035 frs-core:LandBuildings 2023-05-01 2024-04-30 04385035 frs-core:LandBuildings 2023-04-30 04385035 frs-core:LandBuildings frs-core:LeasedAssetsHeldAsLessee 2023-05-01 2024-04-30 04385035 frs-core:MotorVehicles 2023-05-01 2024-04-30 04385035 frs-core:PlantMachinery 2024-04-30 04385035 frs-core:PlantMachinery 2023-05-01 2024-04-30 04385035 frs-core:PlantMachinery 2023-04-30 04385035 frs-core:ShareCapital 2024-04-30 04385035 frs-core:RetainedEarningsAccumulatedLosses 2024-04-30 04385035 frs-bus:PrivateLimitedCompanyLtd 2023-05-01 2024-04-30 04385035 frs-bus:FilletedAccounts 2023-05-01 2024-04-30 04385035 frs-bus:SmallEntities 2023-05-01 2024-04-30 04385035 frs-bus:AuditExempt-NoAccountantsReport 2023-05-01 2024-04-30 04385035 frs-bus:SmallCompaniesRegimeForAccounts 2023-05-01 2024-04-30 04385035 frs-bus:Director1 2023-05-01 2024-04-30 04385035 frs-countries:EnglandWales 2023-05-01 2024-04-30 04385035 2022-04-30 04385035 2023-04-30 04385035 2022-05-01 2023-04-30 04385035 frs-core:CurrentFinancialInstruments 2023-04-30 04385035 frs-core:Non-currentFinancialInstruments 2023-04-30 04385035 frs-core:ShareCapital 2023-04-30 04385035 frs-core:RetainedEarningsAccumulatedLosses 2023-04-30
Registered number: 04385035
MS (Midlands) Ltd
Unaudited Financial Statements
For The Year Ended 30 April 2024
Unaudited Financial Statements
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 04385035
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 197,637 251,092
197,637 251,092
CURRENT ASSETS
Stocks 207,630 206,604
Debtors 5 504,264 581,941
Cash at bank and in hand 117,869 53,693
829,763 842,238
Creditors: Amounts Falling Due Within One Year 6 (479,952 ) (400,603 )
NET CURRENT ASSETS (LIABILITIES) 349,811 441,635
TOTAL ASSETS LESS CURRENT LIABILITIES 547,448 692,727
Creditors: Amounts Falling Due After More Than One Year 7 (41,695 ) (100,920 )
PROVISIONS FOR LIABILITIES
Deferred Taxation (37,786 ) (54,518 )
NET ASSETS 467,967 537,289
CAPITAL AND RESERVES
Called up share capital 9 100 100
Profit and Loss Account 467,867 537,189
SHAREHOLDERS' FUNDS 467,967 537,289
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Page 2
For the year ending 30 April 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 D Sharpe
Director
1 July 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
MS (Midlands) Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 04385035 . The registered office is Newlyn Road, Cradley Heath, West Midlands, B64 6BE.
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.
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:
Leasehold 10% straight line
Plant & Machinery 20% reducing balance
Motor Vehicles 25% reducing balance
Computer Equipment 20% straight line
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. 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. 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.
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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. Government Grant
Grants for immediate financial support or to cover costs already incurred are recognised immediately in the profit and loss account. Grants towards general activities of the entity over a specific period are recognised in the profit and loss account over that period.
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: 31 (2023: 35)
31 35
4. Tangible Assets
Land & Buildings Plant & Machinery etc. Total
£ £ £
Cost
As at 1 May 2023 11,156 1,895,498 1,906,654
Additions - 4,237 4,237
As at 30 April 2024 11,156 1,899,735 1,910,891
Depreciation
As at 1 May 2023 1,116 1,654,446 1,655,562
Provided during the period 1,116 56,576 57,692
As at 30 April 2024 2,232 1,711,022 1,713,254
Net Book Value
As at 30 April 2024 8,924 188,713 197,637
As at 1 May 2023 10,040 241,052 251,092
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5. Debtors
2024 2023
£ £
Due within one year
Trade debtors 154,098 152,521
Other debtors 350,166 429,420
504,264 581,941
6. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Net obligations under finance lease and hire purchase contracts 26,306 30,400
Trade creditors 237,449 238,844
Bank loans and overdrafts 59,771 49,688
Other creditors 97,095 22,523
Taxation and social security 59,331 59,148
479,952 400,603
7. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Net obligations under finance lease and hire purchase contracts 3,414 29,720
Bank loans 38,281 71,200
41,695 100,920
8. Secured Creditors
Of the creditors falling due within and after more than one year the following amounts are secured.
Assets held under hire purchase are secured on the assets to which they relate.
The secured bank loan is secured by a fixed and floating charge over all the property and undertaking of the company.
2024 2023
£ £
Net obligations under finance lease and hire purchase contracts 29,720 60,120
Bank loans and overdrafts - 15,282
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:
The above loan is unsecured, interest free and repayable on demand.
11. Off-Balance Sheet Arrangements
Lease comittments at the year end totalled to £12,413 (2023 - £21,175).
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