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Registered number: 03752288
Ashley Wood Recovery Limited
Financial Statements
For The Year Ended 30 April 2024
Financial Statements
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—7
Page 1
Balance Sheet
Registered number: 03752288
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 5 3,328,887 2,680,047
3,328,887 2,680,047
CURRENT ASSETS
Stocks 6 359,000 419,000
Debtors 7 357,403 225,585
Cash at bank and in hand 5,946 5,346
722,349 649,931
Creditors: Amounts Falling Due Within One Year 8 (949,148 ) (706,267 )
NET CURRENT ASSETS (LIABILITIES) (226,799 ) (56,336 )
TOTAL ASSETS LESS CURRENT LIABILITIES 3,102,088 2,623,711
Creditors: Amounts Falling Due After More Than One Year 9 (1,526,805 ) (1,203,037 )
PROVISIONS FOR LIABILITIES
Deferred Taxation (551,735 ) (428,274 )
NET ASSETS 1,023,548 992,400
CAPITAL AND RESERVES
Called up share capital 11 1,002 1,002
Share premium account 120,000 120,000
Revaluation reserve 12 320,924 320,924
Profit and Loss Account 581,622 550,474
SHAREHOLDERS' FUNDS 1,023,548 992,400
Page 1
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 David Hankey
Director
28th January 2025
The notes on pages 3 to 7 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Ashley Wood Recovery Limited is a private company, limited by shares, incorporated in England & Wales, registered number 03752288 . The registered office is Unit C, Enterprise Park, Piddlehinton, Dorchester, Dorset, DT2 7UA.
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 10 years.
2.4. Tangible Fixed Assets and Depreciation
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.
Leasehold 15% Reducing balance
Plant & Machinery 25% Reducing balance
Motor Vehicles 15% Reducing balance
Fixtures & Fittings 15% Reducing balance
Impairment of fixed assets
At each reporting period end date, the company reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered any impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of cash-generating unit to which the asset belongs.
2.5. 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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2.6. 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.
2.7. Financial Instruments
Cash and cash equivalents
Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short term liquid investments with original maturities of three months or less and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

Financial Instruments
The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments. Financial instruments are recognised in the company’s balance sheet when the company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financial transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Classification of financial liabilities
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.


Basic financial liabilities
Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are present as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Equity instruments
Equity instruments issued by the company are recorded at the proceeds received, net of direct issue costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

2.8. 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 year 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.
...CONTINUED
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2.8. Taxation - continued
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 asset reflects 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: 11 (2023: 50)
11 50
4. Intangible Assets
Goodwill
£
Cost
As at 1 May 2023 401,286
As at 30 April 2024 401,286
Amortisation
As at 1 May 2023 401,286
As at 30 April 2024 401,286
Net Book Value
As at 30 April 2024 -
As at 1 May 2023 -
5. Tangible Assets
Land & Property
Leasehold Plant & Machinery Motor Vehicles Fixtures & Fittings Total
£ £ £ £ £
Cost
As at 1 May 2023 64,007 30,559 3,689,406 28,290 3,812,262
Additions - 80,000 733,523 - 813,523
Disposals - - (25,000 ) - (25,000 )
As at 30 April 2024 64,007 110,559 4,397,929 28,290 4,600,785
Depreciation
As at 1 May 2023 20,777 15,670 1,085,798 9,970 1,132,215
Provided during the period 6,484 23,722 110,029 2,748 142,983
Disposals - - (3,300 ) - (3,300 )
As at 30 April 2024 27,261 39,392 1,192,527 12,718 1,271,898
Net Book Value
As at 30 April 2024 36,746 71,167 3,205,402 15,572 3,328,887
As at 1 May 2023 43,230 14,889 2,603,608 18,320 2,680,047
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6. Stocks
2024 2023
£ £
Finished goods 115,000 123,000
Work in progress 244,000 296,000
359,000 419,000
7. Debtors
2024 2023
£ £
Due within one year
Trade debtors 301,194 169,376
Other debtors 56,209 56,209
357,403 225,585
8. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Net obligations under finance lease and hire purchase contracts 288,393 -
Trade creditors 208,367 209,036
Bank loans and overdrafts 218,737 280,726
Corporation tax 9,307 9,307
Other taxes and social security 17,723 61,069
VAT 115,425 78,077
Other creditors 51,484 45,844
Pension liabilities 1,040 1,236
Accruals and deferred income 16,000 16,000
Director's loan account 22,672 4,972
949,148 706,267
9. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Net obligations under finance lease and hire purchase contracts 1,328,062 1,034,704
Bank loans 103,333 168,333
Other creditors 95,410 -
1,526,805 1,203,037
10. Obligations Under Finance Leases and Hire Purchase
2024 2023
£ £
The future minimum finance lease payments are as follows:
Not later than one year 288,393 -
Later than one year and not later than five years 1,328,062 1,034,704
1,616,455 1,034,704
1,616,455 1,034,704
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11. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 1,002 1,002
12. Reserves
Revaluation Reserve
£
As at 1 May 2023 320,924
As at 30 April 2024 320,924
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