Acorah Software Products - Accounts Production 16.1.300 false true 31 March 2023 1 April 2022 false 1 April 2023 31 March 2024 31 March 2024 02550483 Mr D M South Mr P N South Mr S J Hocking iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 02550483 2023-03-31 02550483 2024-03-31 02550483 2023-04-01 2024-03-31 02550483 frs-core:CurrentFinancialInstruments 2024-03-31 02550483 frs-core:Non-currentFinancialInstruments 2024-03-31 02550483 frs-core:ComputerEquipment 2024-03-31 02550483 frs-core:ComputerEquipment 2023-04-01 2024-03-31 02550483 frs-core:ComputerEquipment 2023-03-31 02550483 frs-core:FurnitureFittings 2024-03-31 02550483 frs-core:FurnitureFittings 2023-04-01 2024-03-31 02550483 frs-core:FurnitureFittings 2023-03-31 02550483 frs-core:NetGoodwill 2024-03-31 02550483 frs-core:NetGoodwill 2023-04-01 2024-03-31 02550483 frs-core:NetGoodwill 2023-03-31 02550483 frs-core:MotorVehicles 2024-03-31 02550483 frs-core:MotorVehicles 2023-04-01 2024-03-31 02550483 frs-core:MotorVehicles 2023-03-31 02550483 frs-core:ShareCapital 2024-03-31 02550483 frs-core:RetainedEarningsAccumulatedLosses 2024-03-31 02550483 frs-bus:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 02550483 frs-bus:FilletedAccounts 2023-04-01 2024-03-31 02550483 frs-bus:SmallEntities 2023-04-01 2024-03-31 02550483 frs-bus:AuditExempt-NoAccountantsReport 2023-04-01 2024-03-31 02550483 frs-bus:SmallCompaniesRegimeForAccounts 2023-04-01 2024-03-31 02550483 frs-bus:Director1 2023-04-01 2024-03-31 02550483 frs-bus:Director2 2023-04-01 2024-03-31 02550483 frs-bus:CompanySecretary1 2023-04-01 2024-03-31 02550483 frs-countries:EnglandWales 2023-04-01 2024-03-31 02550483 2022-03-31 02550483 2023-03-31 02550483 2022-04-01 2023-03-31 02550483 frs-core:CurrentFinancialInstruments 2023-03-31 02550483 frs-core:Non-currentFinancialInstruments 2023-03-31 02550483 frs-core:ShareCapital 2023-03-31 02550483 frs-core:RetainedEarningsAccumulatedLosses 2023-03-31
Registered number: 02550483
Rainham Refrigeration & Air Conditioning Limited
Unaudited Financial Statements
For The Year Ended 31 March 2024
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 02550483
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 5 7,886 15,553
7,886 15,553
CURRENT ASSETS
Stocks 6 524,979 634,096
Debtors 7 500,833 745,322
Cash at bank and in hand 667 50,513
1,026,479 1,429,931
Creditors: Amounts Falling Due Within One Year 8 (793,444 ) (1,160,510 )
NET CURRENT ASSETS (LIABILITIES) 233,035 269,421
TOTAL ASSETS LESS CURRENT LIABILITIES 240,921 284,974
Creditors: Amounts Falling Due After More Than One Year 9 (91,126 ) (223,261 )
NET ASSETS 149,795 61,713
CAPITAL AND RESERVES
Called up share capital 10 361,000 144,000
Profit and Loss Account (211,205 ) (82,287 )
SHAREHOLDERS' FUNDS 149,795 61,713
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For the year ending 31 March 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 P N South
Director
30th 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
Rainham Refrigeration & Air Conditioning Limited is a private company, limited by shares, incorporated in England & Wales, registered number 02550483 . The registered office is 141 Watling Street, Gillingham, Kent, ME7 2YY.
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.
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 three years.
2.4. Tangible Fixed Assets and Depreciation
Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.
The assets' residual values, useful lives and depreciation methods are reviewed and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.
Gains and losses on disposals are determined by comparing the proceeds with the carrying value amount and are recognised in the Income Statement.
Motor Vehicles 20% on cost
Fixtures & Fittings 20% on cost
Computer Equipment 20% on cost
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. Financial Instruments
The company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties and loans to related parties.
2.7. Pensions
The company operates a defined pension contribution scheme. Contributions are charged to the profit and loss account as they become payable in accordance with the rules of the scheme.
2.8. Debtors
 Short term debtors are mesured at transaction price, less any impairments for bad or doubtful debts.
2.9. Creditors
Short term creditors are measured at the transaction price.
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2.10. Cash and cash equivalents
Cash is represented by cash in hand and deposits with financial institutions.
2.12   Employee benefits
The costs of short-term employee benefits are recognised as a liability and an expense.
The cost of any significant unused holiday entitlement is recognised in the period in which the employee's services are received.
Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 39 (2023: 51)
39 51
4. Intangible Assets
Goodwill
£
Cost
As at 1 April 2023 16,925
As at 31 March 2024 16,925
Amortisation
As at 1 April 2023 16,925
As at 31 March 2024 16,925
Net Book Value
As at 31 March 2024 -
As at 1 April 2023 -
5. Tangible Assets
Motor Vehicles Fixtures & Fittings Computer Equipment Total
£ £ £ £
Cost
As at 1 April 2023 102,814 8,545 39,148 150,507
Disposals (60,528 ) - - (60,528 )
As at 31 March 2024 42,286 8,545 39,148 89,979
Depreciation
As at 1 April 2023 102,814 8,542 23,598 134,954
Provided during the period - 3 7,664 7,667
Disposals (60,528 ) - - (60,528 )
As at 31 March 2024 42,286 8,545 31,262 82,093
Net Book Value
As at 31 March 2024 - - 7,886 7,886
As at 1 April 2023 - 3 15,550 15,553
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6. Stocks
2024 2023
£ £
Stock 309,779 335,007
Work in progress 215,200 299,089
524,979 634,096
7. Debtors
2024 2023
£ £
Due within one year
Trade debtors 412,991 696,753
Other debtors 87,842 48,569
500,833 745,322
8. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 244,864 469,983
Bank loans and overdrafts 146,514 104,431
Other creditors 297,970 380,815
Taxation and social security 104,096 205,281
793,444 1,160,510
9. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Bank loans 91,126 223,261
The bank have a debenture, dated 18th September 1996, over all assets of the company.
10. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 361,000 144,000
11. Debt to equity swap
The company has had extensive restructuring costs over the last two years in respect of the closure of the Northern office and the associated underperforming contracts.  However the forecast for the next financial year is one that sees the company return to profit, and as a result the directors have converted furthur debt to equity, upping the share capital to £361,000.
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