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 07941830 Mrs Alison Bridger Mr Nigel Bridger Mr Thomas Bridger iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 07941830 2023-05-31 07941830 2024-05-31 07941830 2023-06-01 2024-05-31 07941830 frs-core:CurrentFinancialInstruments 2024-05-31 07941830 frs-core:Non-currentFinancialInstruments 2024-05-31 07941830 frs-core:ComputerEquipment 2024-05-31 07941830 frs-core:ComputerEquipment 2023-06-01 2024-05-31 07941830 frs-core:ComputerEquipment 2023-05-31 07941830 frs-core:FurnitureFittings 2024-05-31 07941830 frs-core:FurnitureFittings 2023-06-01 2024-05-31 07941830 frs-core:FurnitureFittings 2023-05-31 07941830 frs-core:MotorVehicles 2024-05-31 07941830 frs-core:MotorVehicles 2023-06-01 2024-05-31 07941830 frs-core:MotorVehicles 2023-05-31 07941830 frs-core:PlantMachinery 2024-05-31 07941830 frs-core:PlantMachinery 2023-06-01 2024-05-31 07941830 frs-core:PlantMachinery 2023-05-31 07941830 frs-core:ShareCapital 2024-05-31 07941830 frs-core:RetainedEarningsAccumulatedLosses 2024-05-31 07941830 frs-bus:PrivateLimitedCompanyLtd 2023-06-01 2024-05-31 07941830 frs-bus:FilletedAccounts 2023-06-01 2024-05-31 07941830 frs-bus:SmallEntities 2023-06-01 2024-05-31 07941830 frs-bus:AuditExempt-NoAccountantsReport 2023-06-01 2024-05-31 07941830 frs-bus:SmallCompaniesRegimeForAccounts 2023-06-01 2024-05-31 07941830 frs-bus:Director1 2023-06-01 2024-05-31 07941830 frs-bus:Director2 2023-06-01 2024-05-31 07941830 frs-bus:Director3 2023-06-01 2024-05-31 07941830 frs-countries:EnglandWales 2023-06-01 2024-05-31 07941830 2022-05-31 07941830 2023-05-31 07941830 2022-06-01 2023-05-31 07941830 frs-core:CurrentFinancialInstruments 2023-05-31 07941830 frs-core:Non-currentFinancialInstruments 2023-05-31 07941830 frs-core:ShareCapital 2023-05-31 07941830 frs-core:RetainedEarningsAccumulatedLosses 2023-05-31
Registered number: 07941830
Retro Engineering Limited
Unaudited Financial Statements
For The Year Ended 31 May 2024
Chadwick Accountants & Bookkeepers Ltd
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—4
Page 1
Balance Sheet
Registered number: 07941830
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 119,817 118,650
119,817 118,650
CURRENT ASSETS
Stocks 5 363,420 173,120
Debtors 6 59,513 27,948
Cash at bank and in hand - 3,331
422,933 204,399
Creditors: Amounts Falling Due Within One Year 7 (379,158 ) (281,871 )
NET CURRENT ASSETS (LIABILITIES) 43,775 (77,472 )
TOTAL ASSETS LESS CURRENT LIABILITIES 163,592 41,178
Creditors: Amounts Falling Due After More Than One Year 8 (104,167 ) -
NET ASSETS 59,425 41,178
CAPITAL AND RESERVES
Called up share capital 9 2 2
Profit and Loss Account 59,423 41,176
SHAREHOLDERS' FUNDS 59,425 41,178
Page 1
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.
On behalf of the board
Mrs Alison Bridger
Director
17/01/2025
The notes on pages 3 to 4 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Retro Engineering Limited is a private company, limited by shares, incorporated in England & Wales, registered number 07941830 . The registered office is UNIT 1, NORTON FARM HARVINGTON LANE, NORTON, EVESHAM, WORCESTERSHIRE, WR11 4TN.
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% RB
Motor Vehicles 20% RB
Fixtures & Fittings 15% RB
Computer Equipment 15% RB
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.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 6 (2023: 6)
6 6
4. Tangible Assets
Plant & Machinery Motor Vehicles Fixtures & Fittings Computer Equipment Total
£ £ £ £ £
Cost
As at 1 June 2023 57,185 108,708 5,901 1,176 172,970
Additions 6,556 16,458 3,699 572 27,285
As at 31 May 2024 63,741 125,166 9,600 1,748 200,255
...CONTINUED
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Page 4
Depreciation
As at 1 June 2023 23,831 28,912 969 608 54,320
Provided during the period 5,986 18,615 1,346 171 26,118
As at 31 May 2024 29,817 47,527 2,315 779 80,438
Net Book Value
As at 31 May 2024 33,924 77,639 7,285 969 119,817
As at 1 June 2023 33,354 79,796 4,932 568 118,650
5. Stocks
2024 2023
£ £
Stock 153,000 119,200
Finished goods 114,000 -
Work in progress 96,420 53,920
363,420 173,120
6. Debtors
2024 2023
£ £
Due within one year
Trade debtors 50,544 19,178
Other debtors 8,969 8,770
59,513 27,948
7. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 39,490 10,151
Bank loans and overdrafts 16,890 1,911
Other loans 117,000 103,504
Amounts owed to group undertakings 50,253 84,595
Other creditors 92,294 69,979
Taxation and social security 63,231 11,731
379,158 281,871
8. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Other loans 104,167 -
9. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 2 2
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