Acorah Software Products - Accounts Production 16.1.300 false true 31 May 2023 1 June 2022 false 1 June 2023 31 May 2024 31 May 2024 09002268 Mr David Steadman iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 09002268 2023-05-31 09002268 2024-05-31 09002268 2023-06-01 2024-05-31 09002268 frs-core:CurrentFinancialInstruments 2024-05-31 09002268 frs-core:ComputerEquipment 2024-05-31 09002268 frs-core:ComputerEquipment 2023-06-01 2024-05-31 09002268 frs-core:ComputerEquipment 2023-05-31 09002268 frs-core:NetGoodwill 2024-05-31 09002268 frs-core:NetGoodwill 2023-06-01 2024-05-31 09002268 frs-core:NetGoodwill 2023-05-31 09002268 frs-core:MotorVehicles 2024-05-31 09002268 frs-core:MotorVehicles 2023-06-01 2024-05-31 09002268 frs-core:MotorVehicles 2023-05-31 09002268 frs-core:PlantMachinery 2024-05-31 09002268 frs-core:PlantMachinery 2023-06-01 2024-05-31 09002268 frs-core:PlantMachinery 2023-05-31 09002268 frs-core:ShareCapital 2024-05-31 09002268 frs-core:RetainedEarningsAccumulatedLosses 2024-05-31 09002268 frs-bus:PrivateLimitedCompanyLtd 2023-06-01 2024-05-31 09002268 frs-bus:FilletedAccounts 2023-06-01 2024-05-31 09002268 frs-bus:SmallEntities 2023-06-01 2024-05-31 09002268 frs-bus:AuditExempt-NoAccountantsReport 2023-06-01 2024-05-31 09002268 frs-bus:SmallCompaniesRegimeForAccounts 2023-06-01 2024-05-31 09002268 frs-bus:OrdinaryShareClass1 2023-06-01 2024-05-31 09002268 frs-bus:OrdinaryShareClass1 2024-05-31 09002268 frs-bus:OrdinaryShareClass2 2023-06-01 2024-05-31 09002268 frs-bus:OrdinaryShareClass2 2024-05-31 09002268 frs-bus:Director1 2023-06-01 2024-05-31 09002268 frs-countries:EnglandWales 2023-06-01 2024-05-31 09002268 2022-05-31 09002268 2023-05-31 09002268 2022-06-01 2023-05-31 09002268 frs-core:CurrentFinancialInstruments 2023-05-31 09002268 frs-core:ShareCapital 2023-05-31 09002268 frs-core:RetainedEarningsAccumulatedLosses 2023-05-31 09002268 frs-bus:OrdinaryShareClass1 2022-06-01 2023-05-31 09002268 frs-bus:OrdinaryShareClass2 2022-06-01 2023-05-31
Registered number: 09002268
l & m Project Solutions Ltd
Unaudited Financial Statements
For The Year Ended 31 May 2024
B&L Accountants Ltd
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 09002268
2024 2023
Notes £ £ £ £
FIXED ASSETS
Intangible Assets 4 10,800 -
Tangible Assets 5 8,531 20,037
19,331 20,037
CURRENT ASSETS
Debtors 6 44,626 82,937
Cash at bank and in hand 28,385 10,862
73,011 93,799
Creditors: Amounts Falling Due Within One Year 7 (9,710 ) (9,257 )
NET CURRENT ASSETS (LIABILITIES) 63,301 84,542
TOTAL ASSETS LESS CURRENT LIABILITIES 82,632 104,579
NET ASSETS 82,632 104,579
CAPITAL AND RESERVES
Called up share capital 8 4 4
Profit and Loss Account 82,628 104,575
SHAREHOLDERS' FUNDS 82,632 104,579
Page 1
Page 2
For the year ending 31 May 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his 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 David Steadman
Director
20/11/2024
The notes on pages 3 to 5 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
l & m Project Solutions Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 09002268 . The registered office is 10 Rocket Pool Drive, Bilston, Wolverhampton, West Midlands, WV14 8BH.
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. Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
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 10 years.
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 25% Straight line
Motor Vehicles 25% Straight line
Computer Equipment 25% Straight line
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 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: 2 (2023: 3)
2 3
Page 3
Page 4
4. Intangible Assets
Goodwill
£
Cost
As at 1 June 2023 10,000
Additions 12,000
As at 31 May 2024 22,000
Amortisation
As at 1 June 2023 10,000
Provided during the period 1,200
As at 31 May 2024 11,200
Net Book Value
As at 31 May 2024 10,800
As at 1 June 2023 -
5. Tangible Assets
Plant & Machinery Motor Vehicles Computer Equipment Total
£ £ £ £
Cost
As at 1 June 2023 27,652 38,031 2,233 67,916
As at 31 May 2024 27,652 38,031 2,233 67,916
Depreciation
As at 1 June 2023 13,826 31,820 2,233 47,879
Provided during the period 6,913 4,593 - 11,506
As at 31 May 2024 20,739 36,413 2,233 59,385
Net Book Value
As at 31 May 2024 6,913 1,618 - 8,531
As at 1 June 2023 13,826 6,211 - 20,037
6. Debtors
2024 2023
£ £
Due within one year
Trade debtors (7,077 ) (7,077 )
Other taxes and social security 19,477 28,913
Director's loan account 32,226 61,101
44,626 82,937
Page 4
Page 5
7. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors - 1
Corporation tax 4,758 2,316
VAT 4,952 6,940
9,710 9,257
8. Share Capital
2024 2023
Allotted, called up and fully paid £ £
1 Ordinary Shares of £ 1 each 1 1
3 Ordinary A shares of £ 1 each 3 3
4 4
9. Directors Advances, Credits and Guarantees
Dividends paid to directors
2024 2023
£ £
Mr David Steadman 42,000 41,200
10. Dividends
2024 2023
£ £
On equity shares:
Final dividend paid 72,000 91,200
Page 5