Acorah Software Products - Accounts Production 16.1.300 false true 31 January 2023 1 February 2022 false 1 February 2023 31 January 2024 31 January 2024 NI643521 Mr Alwyn Hutchinson Mr Alwyn Hutchinson iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure NI643521 2023-01-31 NI643521 2024-01-31 NI643521 2023-02-01 2024-01-31 NI643521 frs-core:CurrentFinancialInstruments 2024-01-31 NI643521 frs-core:Non-currentFinancialInstruments 2024-01-31 NI643521 frs-core:ShareCapital 2024-01-31 NI643521 frs-core:RetainedEarningsAccumulatedLosses 2024-01-31 NI643521 frs-bus:PrivateLimitedCompanyLtd 2023-02-01 2024-01-31 NI643521 frs-bus:FilletedAccounts 2023-02-01 2024-01-31 NI643521 frs-bus:SmallEntities 2023-02-01 2024-01-31 NI643521 frs-bus:AuditExempt-NoAccountantsReport 2023-02-01 2024-01-31 NI643521 frs-bus:SmallCompaniesRegimeForAccounts 2023-02-01 2024-01-31 NI643521 frs-bus:Director1 2023-02-01 2024-01-31 NI643521 frs-bus:CompanySecretary1 2023-02-01 2024-01-31 NI643521 frs-countries:NorthernIreland 2023-02-01 2024-01-31 NI643521 2022-01-31 NI643521 2023-01-31 NI643521 2022-02-01 2023-01-31 NI643521 frs-core:CurrentFinancialInstruments 2023-01-31 NI643521 frs-core:Non-currentFinancialInstruments 2023-01-31 NI643521 frs-core:ShareCapital 2023-01-31 NI643521 frs-core:RetainedEarningsAccumulatedLosses 2023-01-31
Registered number: NI643521
Ah Tractors Moira Ltd
Unaudited Financial Statements
For The Year Ended 31 January 2024
PMB Accountants Limited
7 The Square
Comber
Newtownards
BT23 5DX
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—4
Page 1
Balance Sheet
Registered number: NI643521
2024 2023
Notes £ £ £ £
CURRENT ASSETS
Stocks 4 - 30,000
Debtors 5 12,240 780
Cash at bank and in hand 34,128 682
46,368 31,462
Creditors: Amounts Falling Due Within One Year 6 (77,670 ) (75,234 )
NET CURRENT ASSETS (LIABILITIES) (31,302 ) (43,772 )
TOTAL ASSETS LESS CURRENT LIABILITIES (31,302 ) (43,772 )
Creditors: Amounts Falling Due After More Than One Year 7 (10,398 ) (14,806 )
NET LIABILITIES (41,700 ) (58,578 )
CAPITAL AND RESERVES
Called up share capital 8 1 1
Profit and Loss Account (41,701 ) (58,579 )
SHAREHOLDERS' FUNDS (41,700) (58,578)
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For the year ending 31 January 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 Alwyn Hutchinson
Director
18/10/2024
The notes on pages 3 to 4 form part of these financial statements.
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Notes to the Financial Statements
1. General Information
Ah Tractors Moira Ltd is a private company, limited by shares, incorporated in Northern Ireland, registered number NI643521 . The registered office is 4 Roddens Court Mews, Moira, BT67 0LP.
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. 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.
2.4. 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.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 1 (2023: 1)
1 1
4. Stocks
2024 2023
£ £
Finished goods - 30,000
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5. Debtors
2024 2023
£ £
Due within one year
Trade debtors 12,240 -
Other debtors - 780
12,240 780
6. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 1,575 12,374
Bank loans and overdrafts 5,000 5,592
Other creditors 62,110 57,268
Taxation and social security 8,985 -
77,670 75,234
7. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Bank loans 10,398 14,806
8. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 1 1
9. Post Balance Sheet Events
Subsequent to the year-end and prior to the signing of these financial statements, AH Tractors Limited has become involved in a dispute with Newrock Engineering Limited. This dispute could have a material financial impact on the company and may cast significant doubt on the company’s ability to continue as a going concern.
The directors are currently assessing the implications of this matter, including potential resolutions and their impact on the company’s financial position. At this stage, the outcome of the dispute remains uncertain.
10. Related Party Transactions
During the year the business traded with During the year, AH Tractors Limited engaged in transactions with related parties as outlined below:
Transaction with Newrock Engineering Limited
AH Tractors Limited traded with Newrock Engineering Limited, a company in which the director and shareholder of AH Tractors Limited is related to the director and shareholder of Newrock Engineering Limited. The total value of sales during the year amounted to £42,916.
Payment to Catherine Jackson
AH Tractors Limited made payments totaling £29,400 to Catherine Jackson, who is the niece of the director and shareholder of AH Tractors Limited.
These transactions were conducted on an arm’s length basis and in the ordinary course of business.
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