Acorah Software Products - Accounts Production 16.1.300 false true 30 April 2023 1 May 2022 false 1 May 2023 30 April 2024 30 April 2024 04636247 Mr D W Broadhurst Mr W L Potts iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 04636247 2023-04-30 04636247 2024-04-30 04636247 2023-05-01 2024-04-30 04636247 frs-core:CurrentFinancialInstruments 2024-04-30 04636247 frs-core:Non-currentFinancialInstruments 2024-04-30 04636247 frs-core:BetweenOneFiveYears 2024-04-30 04636247 frs-core:ComputerEquipment 2023-05-01 2024-04-30 04636247 frs-core:FurnitureFittings 2023-05-01 2024-04-30 04636247 frs-core:MotorVehicles 2023-05-01 2024-04-30 04636247 frs-core:PlantMachinery 2024-04-30 04636247 frs-core:PlantMachinery 2023-05-01 2024-04-30 04636247 frs-core:PlantMachinery 2023-04-30 04636247 frs-core:WithinOneYear 2024-04-30 04636247 frs-core:RevaluationReserve 2023-04-30 04636247 frs-core:RevaluationReserve 2024-04-30 04636247 frs-core:ShareCapital 2024-04-30 04636247 frs-core:RetainedEarningsAccumulatedLosses 2024-04-30 04636247 frs-bus:PrivateLimitedCompanyLtd 2023-05-01 2024-04-30 04636247 frs-bus:FilletedAccounts 2023-05-01 2024-04-30 04636247 frs-bus:SmallEntities 2023-05-01 2024-04-30 04636247 frs-bus:AuditExempt-NoAccountantsReport 2023-05-01 2024-04-30 04636247 frs-bus:SmallCompaniesRegimeForAccounts 2023-05-01 2024-04-30 04636247 frs-bus:Director1 2023-05-01 2024-04-30 04636247 frs-bus:Director2 2023-05-01 2024-04-30 04636247 frs-countries:EnglandWales 2023-05-01 2024-04-30 04636247 2022-04-30 04636247 2023-04-30 04636247 2022-05-01 2023-04-30 04636247 frs-core:CurrentFinancialInstruments 2023-04-30 04636247 frs-core:Non-currentFinancialInstruments 2023-04-30 04636247 frs-core:BetweenOneFiveYears 2023-04-30 04636247 frs-core:WithinOneYear 2023-04-30 04636247 frs-core:RevaluationReserve 2023-04-30 04636247 frs-core:ShareCapital 2023-04-30 04636247 frs-core:RetainedEarningsAccumulatedLosses 2023-04-30
Registered number: 04636247
Aib Solutions Limited
Unaudited Financial Statements
For The Year Ended 30 April 2024
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—6
Page 1
Balance Sheet
Registered number: 04636247
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 217,881 119,014
217,881 119,014
CURRENT ASSETS
Stocks 2,432 1,451
Debtors 5 146,755 167,494
Cash at bank and in hand 222,559 112,439
371,746 281,384
Creditors: Amounts Falling Due Within One Year 6 (194,558 ) (175,193 )
NET CURRENT ASSETS (LIABILITIES) 177,188 106,191
TOTAL ASSETS LESS CURRENT LIABILITIES 395,069 225,205
Creditors: Amounts Falling Due After More Than One Year 7 (110,217 ) (73,532 )
PROVISIONS FOR LIABILITIES
Deferred Taxation (41,397 ) (19,760 )
NET ASSETS 243,455 131,913
CAPITAL AND RESERVES
Called up share capital 9 800 800
Revaluation reserve 10 200 200
Profit and Loss Account 242,455 130,913
SHAREHOLDERS' FUNDS 243,455 131,913
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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 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 D W Broadhurst
Director
Mr W L Potts
Director
22/01/2025
The notes on pages 3 to 6 form part of these financial statements.
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Notes to the Financial Statements
1. General Information
Aib Solutions Limited is a private company, limited by shares, incorporated in England & Wales, registered number 04636247 . The registered office is Unit 804 Centre 500, Lowfield Drive, Newcastle Under Lyme, Staffordshire, ST5 0UU.
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 15% on reducing balance
Motor Vehicles 25% on reducing balance
Fixtures & Fittings 15% on reducing balance
Computer Equipment Straight line over 3 years
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.
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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. 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.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 14 (2023: 14)
14 14
4. Tangible Assets
Plant & Machinery etc.
£
Cost
As at 1 May 2023 472,540
Additions 138,620
As at 30 April 2024 611,160
...CONTINUED
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Depreciation
As at 1 May 2023 353,526
Provided during the period 39,753
As at 30 April 2024 393,279
Net Book Value
As at 30 April 2024 217,881
As at 1 May 2023 119,014
5. Debtors
2024 2023
£ £
Due within one year
Trade debtors 107,578 130,091
Other debtors 39,177 37,403
146,755 167,494
6. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Net obligations under finance lease and hire purchase contracts 35,335 32,379
Trade creditors 83,102 67,757
Bank loans and overdrafts 10,000 10,000
Other creditors 6,167 3,223
Taxation and social security 59,954 61,834
194,558 175,193
7. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Net obligations under finance lease and hire purchase contracts 95,217 48,532
Bank loans 15,000 25,000
110,217 73,532
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8. Obligations Under Finance Leases and Hire Purchase
2024 2023
£ £
The future minimum finance lease payments are as follows:
Not later than one year 35,335 32,379
Later than one year and not later than five years 95,217 48,532
130,552 80,911
130,552 80,911
9. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 800 800
10. Reserves
Revaluation Reserve
£
As at 1 May 2023 200
As at 30 April 2024 200
11. Related Party Transactions
During the year ended 30th April 2024 the company supplied services to Now U Know Training Limited, a company in which
Mr D Broadhurst who is a director in AIB Solutions Limited is also a director and shareholder amounting to £21,150. A
balance of £2,484, was owing, included in trade debtors, as at 30th April 2024.
During the year ended 30th April 2024 the company received services from Now U Know Training Limited amounting to
£6,208. A balance of £744, was owed, included in trade creditors, as at 30th April 2024.
As at the 30th April 2024, the company is owed £20,100 from WD10 Limited, a company in which Mr W Potts, who is a
director in AIB Solutions Limited, is also a director and shareholder.
As at the 30th April 2024, the company owes £100 to Telot Limited, a company in which Mr D Broadhurst and Mr W Potts,
who are both a director in AIB Solutions Limited, is also a director and shareholder.
As at the 30th April 2024, the company is owed £13,064 from Autoviva Limited, a company in which Mr D Broadhurst, who is a director in AIB Solutions Limited, is also a director and shareholder.
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