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Registered number: 11506580
Engines Worldwide Limited
Directors' Report and
Unaudited Financial Statements
For The Year Ended 30 April 2024
Julian Robert Walker
FMAAT
J R Walker Ltd
11b Boundary Road
Brackley
Northamptonshire
NN13 7ES
Contents
Page
Company Information 1
Directors' Report 2
Accountant's Report 3
Profit and Loss Account 4
Balance Sheet 5—6
Statement of Changes in Equity 7
Notes to the Financial Statements 8—11
Page 1
Company Information
Directors L P Conde
K M Conde
Company Number 11506580
Registered Office 11b Boundary Road
Buckingham Road Industrial Estate
Brackley
NN13 7ES
Accountants Julian Robert Walker
FMAAT
J R Walker Ltd
11b Boundary Road
Brackley
Northamptonshire
NN13 7ES
Page 1
Page 2
Directors' Report
The directors present their report and the financial statements for the year ended 30 April 2024.
Directors
The directors who held office during the year were as follows:
L P Conde
K M Conde
Statement of Directors' Responsibilities
The directors are responsible for preparing the Directors' Report and the financial statements in accordance with applicable law and regulations.
Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing the financial statements the directors are required to:
  • select suitable accounting policies and then apply them consistently;
  • make judgments and accounting estimates that are reasonable and prudent;
  • prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.
The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
The directors are responsible for the maintenance and integrity of the corporate and financial information included on the company's website. Legislation in the United Kingdom governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.
Small Company Rules
This report has been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.
On behalf of the board
L P Conde
Director
22nd January 2025
Page 2
Page 3
Accountant's Report
In accordance with the engagement letter dated 16 March 2023, and in order to assist you to fulfil your duties under the Companies Act 2006, we have compiled the financial statements of the company from the accounting records and information and explanations you have given to us.
This report is made to the directors in accordance with the terms of our engagement. Our work has been undertaken to prepare for approval by the directors the financial statements that we have been engaged to compile, to report to the directors that we have done so, and to state those matters that we have agreed to state to them in this report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the Company and the Company's directors for our work or for this report.
You have acknowledged on the balance sheet as at year ended 30 April 2024 your duty to ensure that the company has kept proper accounting records and to prepare financial statements that give a true and fair view under the Companies Act 2006. You consider that the company is exempt from the statutory requirement for an audit for the year.
We have not been instructed to carry out an audit of the financial statements. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the financial statements.
Signed
Julian Walker
22nd January 2025
Julian Robert Walker
FMAAT
J R Walker Ltd
11b Boundary Road
Brackley
Northamptonshire
NN13 7ES
Page 3
Page 4
Profit and Loss Account
2024 2023
Notes £ £
TURNOVER 4,879,564 3,302,232
Cost of sales (4,178,485 ) (2,847,281 )
GROSS PROFIT 701,079 454,951
Administrative expenses (256,650 ) (203,287 )
Other operating income - -
OPERATING PROFIT 444,429 251,664
Interest payable and similar charges (8,477 ) (10,345 )
PROFIT BEFORE TAXATION 435,952 241,319
Tax on Profit (115,134 ) (50,467 )
PROFIT AFTER TAXATION BEING PROFIT FOR THE FINANCIAL YEAR 320,818 190,852
The notes on pages 8 to 11 form part of these financial statements.
Page 4
Page 5
Balance Sheet
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 134,862 161,978
134,862 161,978
CURRENT ASSETS
Stocks 5 18,395 19,610
Debtors 6 979,161 822,898
Cash at bank and in hand 60,179 1,147
1,057,735 843,655
Creditors: Amounts Falling Due Within One Year 7 (381,925 ) (258,791 )
NET CURRENT ASSETS (LIABILITIES) 675,810 584,864
TOTAL ASSETS LESS CURRENT LIABILITIES 810,672 746,842
Creditors: Amounts Falling Due After More Than One Year 8 (80,616 ) (202,604 )
NET ASSETS 730,056 544,238
CAPITAL AND RESERVES
Called up share capital 10 100 100
Profit and Loss Account 729,956 544,138
SHAREHOLDERS' FUNDS 730,056 544,238
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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 in accordance with the provisions applicable to companies subject to the small companies regime.
On behalf of the board
K M Conde
Director
22nd January 2025
The notes on pages 8 to 11 form part of these financial statements.
Page 6
Page 7
Statement of Changes in Equity
Share Capital Profit and Loss Account Total
£ £ £
As at 1 May 2022 100 439,986 440,086
Profit for the year and total comprehensive income - 190,852 190,852
Dividends paid - (86,700) (86,700)
As at 30 April 2023 and 1 May 2023 100 544,138 544,238
Profit for the year and total comprehensive income - 320,818 320,818
Dividends paid - (135,000) (135,000)
As at 30 April 2024 100 729,956 730,056
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Page 8
Notes to the Financial Statements
1. General Information
Engines Worldwide Limited is a private company, limited by shares, incorporated in England & Wales, registered number 11506580 . The registered office is 11b Boundary Road, Buckingham Road Industrial Estate, Brackley, NN13 7ES.
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% per annum reducing balance basis
Motor Vehicles 20% per annum reducing balance basis
2.4. 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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2.5. 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. 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.
3. Average Number of Employees
7Average number of employees, including directors, during the year was: 6 (2023: 7)
6 7
4. Tangible Assets
Plant & Machinery Motor Vehicles Total
£ £ £
Cost
As at 1 May 2023 147,890 150,610 298,500
Additions 914 - 914
As at 30 April 2024 148,804 150,610 299,414
...CONTINUED
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Depreciation
As at 1 May 2023 57,811 78,711 136,522
Provided during the period 13,650 14,380 28,030
As at 30 April 2024 71,461 93,091 164,552
Net Book Value
As at 30 April 2024 77,343 57,519 134,862
As at 1 May 2023 90,079 71,899 161,978
5. Stocks
2024 2023
£ £
Stock 18,395 19,610
6. Debtors
2024 2023
£ £
Due within one year
Trade debtors 488,265 483,580
Other debtors 490,896 339,318
979,161 822,898
7. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Net obligations under finance lease and hire purchase contracts 25,994 48,318
Trade creditors 183,057 90,358
Corporation tax 160,923 -
Other taxes and social security 11,303 100,592
Other creditors 648 19,523
381,925 258,791
8. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Net obligations under finance lease and hire purchase contracts 2,821 27,173
Bank loans 77,795 175,431
80,616 202,604
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9. Obligations Under Finance Leases and Hire Purchase
2024 2023
£ £
The future minimum finance lease payments are as follows:
Not later than one year 25,994 48,318
Later than one year and not later than five years 2,821 27,173
28,815 75,491
28,815 75,491
10. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 100 100
Page 11