Acorah Software Products - Accounts Production 16.1.300 false true 30 April 2023 1 May 2022 false 1 May 2023 30 April 2024 30 April 2024 04710278 Mr Paul Simpson Mrs Linda Simpson Mrs Jennie Simpson Mr Carl Simpson iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 04710278 2023-04-30 04710278 2024-04-30 04710278 2023-05-01 2024-04-30 04710278 frs-core:CurrentFinancialInstruments 2024-04-30 04710278 frs-core:Non-currentFinancialInstruments 2024-04-30 04710278 frs-core:ComputerEquipment 2024-04-30 04710278 frs-core:ComputerEquipment 2023-05-01 2024-04-30 04710278 frs-core:ComputerEquipment 2023-04-30 04710278 frs-core:NetGoodwill 2024-04-30 04710278 frs-core:NetGoodwill 2023-05-01 2024-04-30 04710278 frs-core:NetGoodwill 2023-04-30 04710278 frs-core:LandBuildings frs-core:OwnedOrFreeholdAssets 2024-04-30 04710278 frs-core:LandBuildings frs-core:OwnedOrFreeholdAssets 2023-05-01 2024-04-30 04710278 frs-core:LandBuildings frs-core:OwnedOrFreeholdAssets 2023-04-30 04710278 frs-core:MotorVehicles 2024-04-30 04710278 frs-core:MotorVehicles 2023-05-01 2024-04-30 04710278 frs-core:MotorVehicles 2023-04-30 04710278 frs-core:PlantMachinery 2024-04-30 04710278 frs-core:PlantMachinery 2023-05-01 2024-04-30 04710278 frs-core:PlantMachinery 2023-04-30 04710278 frs-core:ShareCapital 2024-04-30 04710278 frs-core:RetainedEarningsAccumulatedLosses 2024-04-30 04710278 frs-bus:PrivateLimitedCompanyLtd 2023-05-01 2024-04-30 04710278 frs-bus:FilletedAccounts 2023-05-01 2024-04-30 04710278 frs-bus:SmallEntities 2023-05-01 2024-04-30 04710278 frs-bus:AuditExempt-NoAccountantsReport 2023-05-01 2024-04-30 04710278 frs-bus:SmallCompaniesRegimeForAccounts 2023-05-01 2024-04-30 04710278 frs-bus:Director1 2023-05-01 2024-04-30 04710278 frs-bus:Director2 2023-05-01 2024-04-30 04710278 frs-bus:Director3 2023-05-01 2024-04-30 04710278 frs-bus:Director4 2023-05-01 2024-04-30 04710278 frs-countries:EnglandWales 2023-05-01 2024-04-30 04710278 2022-04-30 04710278 2023-04-30 04710278 2022-05-01 2023-04-30 04710278 frs-core:CurrentFinancialInstruments 2023-04-30 04710278 frs-core:Non-currentFinancialInstruments 2023-04-30 04710278 frs-core:ShareCapital 2023-04-30 04710278 frs-core:RetainedEarningsAccumulatedLosses 2023-04-30
Registered number: 04710278
Simpsons Plumbing and Electrical Limited
Unaudited Financial Statements
For The Year Ended 30 April 2024
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—6
Page 1
Balance Sheet
Registered number: 04710278
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 5 642,293 648,829
642,293 648,829
CURRENT ASSETS
Stocks 6 449,100 338,639
Debtors 7 197,770 182,279
Cash at bank and in hand 40,050 176,420
686,920 697,338
Creditors: Amounts Falling Due Within One Year 8 (546,957 ) (602,081 )
NET CURRENT ASSETS (LIABILITIES) 139,963 95,257
TOTAL ASSETS LESS CURRENT LIABILITIES 782,256 744,086
Creditors: Amounts Falling Due After More Than One Year 9 (90,000 ) (100,000 )
PROVISIONS FOR LIABILITIES
Deferred Taxation (6,460 ) (5,195 )
NET ASSETS 685,796 638,891
CAPITAL AND RESERVES
Called up share capital 11 4 4
Profit and Loss Account 685,792 638,887
SHAREHOLDERS' FUNDS 685,796 638,891
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 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 Paul Simpson
Director
31st January 2025
The notes on pages 3 to 6 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Simpsons Plumbing and Electrical Limited is a private company, limited by shares, incorporated in England & Wales, registered number 04710278 . The registered office is Lime House, 75 Church Road, Tiptree, Essex, CO5 0HB.
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 20 years.
2.4. 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:
Freehold 2% straight line
Plant & Machinery 20% reducing basis
Motor Vehicles 25% reducing basis
Computer Equipment 20% reducing basis
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.
Page 3
Page 4
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 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.
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: 5 (2023: 5)
5 5
4. Intangible Assets
Goodwill
£
Cost
As at 1 May 2023 140,534
As at 30 April 2024 140,534
Amortisation
As at 1 May 2023 140,534
As at 30 April 2024 140,534
Net Book Value
As at 30 April 2024 -
As at 1 May 2023 -
Page 4
Page 5
5. Tangible Assets
Land & Property
Freehold Plant & Machinery Motor Vehicles Computer Equipment Total
£ £ £ £ £
Cost
As at 1 May 2023 659,682 4,641 81,124 11,038 756,485
Additions - - 16,860 791 17,651
Disposals - - (12,865 ) - (12,865 )
As at 30 April 2024 659,682 4,641 85,119 11,829 761,271
Depreciation
As at 1 May 2023 38,197 2,777 59,963 6,719 107,656
Provided during the period 13,194 373 9,476 995 24,038
Disposals - - (12,716 ) - (12,716 )
As at 30 April 2024 51,391 3,150 56,723 7,714 118,978
Net Book Value
As at 30 April 2024 608,291 1,491 28,396 4,115 642,293
As at 1 May 2023 621,485 1,864 21,161 4,319 648,829
6. Stocks
2024 2023
£ £
Materials 449,100 338,639
7. Debtors
2024 2023
£ £
Due within one year
Trade debtors 170,461 157,084
Prepayments and accrued income 9,720 9,153
VAT 17,589 16,042
197,770 182,279
Page 5
Page 6
8. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 11,165 38,344
Bank loans and overdrafts 10,000 10,000
Corporation tax 15,128 6,894
Other taxes and social security 9,379 6,113
Other creditors 5,395 10,947
Accruals and deferred income 9,856 9,692
Directors' loan accounts 486,034 520,091
546,957 602,081
9. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Bank loans 90,000 100,000
10. Secured Creditors
Of the creditors falling due within and after more than one year the following amounts are secured.
The security is in the form of legal charges in place on the freehold property of 73 Bishop Road, Chelmsford, Essex CM1 1PY. The security is held by National Westminster Bank PLC.
2024 2023
£ £
Bank loans and overdrafts 100,000 110,000
11. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 4 4
Page 6