Acorah Software Products - Accounts Production 16.1.200 false true true 30 April 2023 1 May 2022 false 1 May 2023 30 April 2024 30 April 2024 07619831 Mr Mark Hedges-Quinn Mr Ashley Beba Mrs Karina Hedges-Quinn Mr Mark Hedges-Quinn Mr M Hedges-Quinn true iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 07619831 2023-04-30 07619831 2024-04-30 07619831 2023-05-01 2024-04-30 07619831 frs-core:CurrentFinancialInstruments 2024-04-30 07619831 frs-core:Non-currentFinancialInstruments 2024-04-30 07619831 frs-core:BetweenOneFiveYears 2024-04-30 07619831 frs-core:ComputerEquipment 2024-04-30 07619831 frs-core:ComputerEquipment 2023-05-01 2024-04-30 07619831 frs-core:ComputerEquipment 2023-04-30 07619831 frs-core:MoreThanFiveYears 2024-04-30 07619831 frs-core:MotorVehicles 2024-04-30 07619831 frs-core:MotorVehicles 2023-05-01 2024-04-30 07619831 frs-core:MotorVehicles 2023-04-30 07619831 frs-core:PlantMachinery 2024-04-30 07619831 frs-core:PlantMachinery 2023-05-01 2024-04-30 07619831 frs-core:PlantMachinery 2023-04-30 07619831 frs-core:WithinOneYear 2024-04-30 07619831 frs-core:ShareCapital 2024-04-30 07619831 frs-core:RetainedEarningsAccumulatedLosses 2024-04-30 07619831 frs-bus:PrivateLimitedCompanyLtd 2023-05-01 2024-04-30 07619831 frs-bus:FilletedAccounts 2023-05-01 2024-04-30 07619831 frs-bus:SmallEntities 2023-05-01 2024-04-30 07619831 frs-bus:AuditExempt-NoAccountantsReport 2023-05-01 2024-04-30 07619831 frs-bus:SmallCompaniesRegimeForAccounts 2023-05-01 2024-04-30 07619831 1 2023-05-01 2024-04-30 07619831 frs-bus:Director1 2023-05-01 2024-04-30 07619831 frs-bus:Director2 2023-05-01 2024-04-30 07619831 frs-bus:Director3 2023-05-01 2024-04-30 07619831 frs-bus:CompanySecretary1 2023-05-01 2024-04-30 07619831 frs-countries:EnglandWales 2023-05-01 2024-04-30 07619831 2022-04-30 07619831 2023-04-30 07619831 2022-05-01 2023-04-30 07619831 frs-core:CurrentFinancialInstruments 2023-04-30 07619831 frs-core:Non-currentFinancialInstruments 2023-04-30 07619831 frs-core:BetweenOneFiveYears 2023-04-30 07619831 frs-core:MoreThanFiveYears 2023-04-30 07619831 frs-core:MotorVehicles 2022-05-01 2023-04-30 07619831 frs-core:WithinOneYear 2023-04-30 07619831 frs-core:ShareCapital 2023-04-30 07619831 frs-core:RetainedEarningsAccumulatedLosses 2023-04-30
Registered number: 07619831
Premier Vehicle Services Ipswich Ltd
Unaudited Financial Statements
For The Year Ended 30 April 2024
H.J. Hedges-Quinn & Co Ltd
ACCA
The Old Astra Cinema
The Street
Great Bricett
Suffolk
IP7 7DN
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—6
Page 1
Balance Sheet
Registered number: 07619831
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 103,117 111,974
103,117 111,974
CURRENT ASSETS
Stocks 5 9,960 7,725
Debtors 6 90,617 18,652
Cash at bank and in hand 33,814 76,356
134,391 102,733
Creditors: Amounts Falling Due Within One Year 7 (138,592 ) (92,913 )
NET CURRENT ASSETS (LIABILITIES) (4,201 ) 9,820
TOTAL ASSETS LESS CURRENT LIABILITIES 98,916 121,794
Creditors: Amounts Falling Due After More Than One Year 8 (66,244 ) (86,010 )
PROVISIONS FOR LIABILITIES
Deferred Taxation 11 (25,779 ) (21,275 )
NET ASSETS 6,893 14,509
CAPITAL AND RESERVES
Called up share capital 12 5 5
Profit and Loss Account 6,888 14,504
SHAREHOLDERS' FUNDS 6,893 14,509
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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 Mark Hedges-Quinn
Director
Mr Ashley Beba
Director
29/01/2025
The notes on pages 3 to 6 form part of these financial statements.
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Page 3
Notes to the Financial Statements
1. General Information
Premier Vehicle Services Ipswich Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 07619831 . The registered office is 41 Olympus Close, Ipswich, IP1 5LJ.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements are prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008).
2.2. Going Concern Disclosure
The directors have not identified any material uncertainties related to events or conditions that may cast significant doubt about the company's ability to continue as a going concern.
2.3. Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
2.4. Tangible Fixed Assets and Depreciation
Tangible fixed assets are stated at cost less depreciation. 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 25% Reducing Balance
Computer Equipment 33% Straight Line
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.
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. Taxation
The charge for taxation takes into account taxation deferred as a result of timing differences between the treatment of certain items for taxation and accounting purposes. In general, deferred taxation is recognised in respect of timing differences that have originated but not reversed at the balance sheet date. However, deferred tax assets are recognised only to the extent that the directors consider that it is more likely than not that there will be suitable taxable profits from which the future reversal of the underlying timing differences can be deducted. Deferred taxation is measured on a non-discounted basis at the tax rates that are expected to apply in periods in which the timing differences reverse, based on tax rates and the law enacted or substantively enacted at the balance sheet date.
3. Average Number of Employees
Average number of employees, including directors, during the year was:
2024 2023
Office and administration 1 3
Sales, marketing and distribution 3 3
4 6
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4. Tangible Assets
Plant & Machinery Motor Vehicles Computer Equipment Total
£ £ £ £
Cost
As at 1 May 2023 99,623 138,263 3,608 241,494
Additions 20,711 - 581 21,292
As at 30 April 2024 120,334 138,263 4,189 262,786
Depreciation
As at 1 May 2023 55,170 70,911 3,439 129,520
Provided during the period 13,033 16,838 278 30,149
As at 30 April 2024 68,203 87,749 3,717 159,669
Net Book Value
As at 30 April 2024 52,131 50,514 472 103,117
As at 1 May 2023 44,453 67,352 169 111,974
Included above are assets held under finance leases or hire purchase contracts with a net book value as follows:
2024 2023
£ £
Motor Vehicles 41,612 55,483
5. Stocks
2024 2023
£ £
Materials 9,960 7,725
6. Debtors
2024 2023
£ £
Due within one year
Trade debtors 8,040 8,345
Prepayments and accrued income 6,203 9,111
Other taxes and social security - 1,196
Amounts owed by associates 76,374 -
90,617 18,652
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7. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Net obligations under finance lease and hire purchase contracts 12,493 12,547
Trade creditors 41,020 18,901
Bank loans and overdrafts 7,273 7,273
Corporation tax 46,701 30,759
Other taxes and social security 1,277 -
VAT 7,243 8,314
Other creditors 1,780 1,385
Accruals and deferred income 20,179 13,473
Directors' loan accounts 626 261
138,592 92,913
8. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Net obligations under finance lease and hire purchase contracts 58,365 70,858
Bank loans 7,879 15,152
66,244 86,010
9. Secured Creditors
Of the creditors the following amounts are secured.
2024 2023
£ £
Net obligations under finance lease and hire purchase contracts 70,858 83,405
10. Obligations Under Finance Leases and Hire Purchase
2024 2023
£ £
The future minimum finance lease payments are as follows:
Not later than one year 12,493 12,547
Later than one year and not later than five years 58,365 70,858
70,858 83,405
70,858 83,405
11. Deferred Taxation
The provision for deferred taxation is made up of accelerated capital allowances and losses carried forward.
2024 2023
£ £
Other timing differences 25,779 21,275
12. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 5 5
Page 5
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13. Other Commitments
At the end of the period the company had annual commitments under non-cancellable operating leases as follows:
2024 2023
£ £
Later than five years 15,990 15,990
15,990 15,990
14. Directors Advances, Credits and Guarantees
The director has guaranteed the bank overdraft.
2024 2023
£ £
Mr Ashley Beba 14,500 8,400
Mr Mark Hedges-Quinn 30,000 107,500
Mrs Karina Hedges-Quinn 70,000 13,500
15. Related Party Transactions
The company was owed £76,374 at the year end by Premier Tyre Centre Ltd a company owned by the director Mrs K Hedges-Quinn. Premier Tyre Centre Ltd invoiced the company £28,676 for Subcontractor costs in the year.
16. Ultimate Controlling Party
The company's ultimate controlling party is Mr M Hedges-Quinn by virtue of his ownership of 100% of the issued share capital in the company.
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