Acorah Software Products - Accounts Production 16.1.300 false true 31 July 2023 1 August 2022 false 1 August 2023 31 July 2024 31 July 2024 08591279 Mr Kevin Perry Mr Graham Prouse Mrs Carol Perry iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 08591279 2023-07-31 08591279 2024-07-31 08591279 2023-08-01 2024-07-31 08591279 frs-core:CurrentFinancialInstruments 2024-07-31 08591279 frs-core:FurnitureFittings 2024-07-31 08591279 frs-core:FurnitureFittings 2023-08-01 2024-07-31 08591279 frs-core:FurnitureFittings 2023-07-31 08591279 frs-core:MotorVehicles 2024-07-31 08591279 frs-core:MotorVehicles 2023-08-01 2024-07-31 08591279 frs-core:MotorVehicles 2023-07-31 08591279 frs-core:PlantMachinery 2024-07-31 08591279 frs-core:PlantMachinery 2023-08-01 2024-07-31 08591279 frs-core:PlantMachinery 2023-07-31 08591279 frs-core:ShareCapital 2024-07-31 08591279 frs-core:RetainedEarningsAccumulatedLosses 2024-07-31 08591279 frs-bus:PrivateLimitedCompanyLtd 2023-08-01 2024-07-31 08591279 frs-bus:FilletedAccounts 2023-08-01 2024-07-31 08591279 frs-bus:SmallEntities 2023-08-01 2024-07-31 08591279 frs-bus:AuditExempt-NoAccountantsReport 2023-08-01 2024-07-31 08591279 frs-bus:SmallCompaniesRegimeForAccounts 2023-08-01 2024-07-31 08591279 frs-bus:Director1 2023-08-01 2024-07-31 08591279 frs-bus:Director2 2023-08-01 2024-07-31 08591279 frs-bus:Director2 2023-07-31 08591279 frs-bus:Director2 2024-07-31 08591279 frs-bus:CompanySecretary1 2023-08-01 2024-07-31 08591279 frs-countries:EnglandWales 2023-08-01 2024-07-31 08591279 2022-07-31 08591279 2023-07-31 08591279 2022-08-01 2023-07-31 08591279 frs-core:CurrentFinancialInstruments 2023-07-31 08591279 frs-core:ShareCapital 2023-07-31 08591279 frs-core:RetainedEarningsAccumulatedLosses 2023-07-31
Registered number: 08591279
Perry & Prouse (South West) Limited
Unaudited Financial Statements
For The Year Ended 31 July 2024
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 08591279
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 17,844 21,243
17,844 21,243
CURRENT ASSETS
Stocks 33,250 28,080
Debtors 5 9,900 8,875
Cash at bank and in hand 55,153 45,756
98,303 82,711
Creditors: Amounts Falling Due Within One Year 6 (32,110 ) (22,337 )
NET CURRENT ASSETS (LIABILITIES) 66,193 60,374
TOTAL ASSETS LESS CURRENT LIABILITIES 84,037 81,617
PROVISIONS FOR LIABILITIES
Deferred Taxation (3,374 ) (3,967 )
NET ASSETS 80,663 77,650
CAPITAL AND RESERVES
Called up share capital 100 100
Profit and Loss Account 80,563 77,550
SHAREHOLDERS' FUNDS 80,663 77,650
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For the year ending 31 July 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 Kevin Perry
Director
Mr Graham Prouse
Director
29 January 2025
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
Perry & Prouse (South West) Limited is a private company, limited by shares, incorporated in England & Wales, registered number 08591279 . The registered office is Smalls Yard, Dellers Wharf, Taunton, TA1 1NU.
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 form 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 20% reducing balance
Motor Vehicles 20% reducing balance
Fixtures & Fittings 25% reducing balance
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.
2.5. 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.
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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 Total
£ £ £ £
Cost
As at 1 August 2023 35,898 3,500 5,952 45,350
Additions - - 1,099 1,099
As at 31 July 2024 35,898 3,500 7,051 46,449
Depreciation
As at 1 August 2023 17,979 3,030 3,098 24,107
Provided during the period 3,584 94 820 4,498
As at 31 July 2024 21,563 3,124 3,918 28,605
Net Book Value
As at 31 July 2024 14,335 376 3,133 17,844
As at 1 August 2023 17,919 470 2,854 21,243
5. Debtors
2024 2023
£ £
Due within one year
Trade debtors 3,925 1,513
Prepayments and accrued income 5,665 4,978
Directors' loan accounts 310 2,384
9,900 8,875
6. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 870 1,855
Corporation tax 25,919 12,287
Other taxes and social security 613 -
VAT 2,767 3,274
Other creditors 91 368
Accruals and deferred income 1,540 1,660
Directors' loan accounts 310 2,893
32,110 22,337
7. Other Commitments
The total amount of financial commitments not included in the balance sheet is £0 (2023: £26,500)
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8. Directors Advances, Credits and Guarantees
Included within Debtors are the following loans to directors:
As at 1 August 2023 Amounts advanced Amounts repaid Amounts written off As at 31 July 2024
£ £ £ £ £
Mr Graham Prouse 2,384 2,981 (5,055 ) - 310
The above loan is unsecured, interest free and repayable on demand.
9. Related Party Transactions
During the year, a director maintained a loan account with the company. The loan is interest free and repayable on demand. At the year end, the amount owed by the company was £310 (2023: £2,893).
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