Acorah Software Products - Accounts Production 16.1.300 false true 30 June 2023 1 July 2022 false 1 July 2023 30 June 2024 30 June 2024 05165254 Mrs Sharon O'Brien Mr Reece O'Brien Mr Kevin O'Brien the Directors true iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 05165254 2023-06-30 05165254 2024-06-30 05165254 2023-07-01 2024-06-30 05165254 frs-core:CurrentFinancialInstruments 2024-06-30 05165254 frs-core:MotorVehicles 2024-06-30 05165254 frs-core:MotorVehicles 2023-07-01 2024-06-30 05165254 frs-core:MotorVehicles 2023-06-30 05165254 frs-core:PlantMachinery 2024-06-30 05165254 frs-core:PlantMachinery 2023-07-01 2024-06-30 05165254 frs-core:PlantMachinery 2023-06-30 05165254 frs-core:ShareCapital 2024-06-30 05165254 frs-core:RetainedEarningsAccumulatedLosses 2024-06-30 05165254 frs-bus:PrivateLimitedCompanyLtd 2023-07-01 2024-06-30 05165254 frs-bus:FilletedAccounts 2023-07-01 2024-06-30 05165254 frs-bus:SmallEntities 2023-07-01 2024-06-30 05165254 frs-bus:AuditExempt-NoAccountantsReport 2023-07-01 2024-06-30 05165254 frs-bus:SmallCompaniesRegimeForAccounts 2023-07-01 2024-06-30 05165254 1 2023-07-01 2024-06-30 05165254 frs-bus:Director1 2023-07-01 2024-06-30 05165254 frs-bus:Director2 2023-07-01 2024-06-30 05165254 frs-bus:Director3 2023-07-01 2024-06-30 05165254 frs-countries:EnglandWales 2023-07-01 2024-06-30 05165254 2022-06-30 05165254 2023-06-30 05165254 2022-07-01 2023-06-30 05165254 frs-core:CurrentFinancialInstruments 2023-06-30 05165254 frs-core:ShareCapital 2023-06-30 05165254 frs-core:RetainedEarningsAccumulatedLosses 2023-06-30
Registered number: 05165254
Oil Tank Replacement Services Limited
Financial Statements
For The Year Ended 30 June 2024
Financial Statements
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—4
Page 1
Balance Sheet
Registered number: 05165254
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 3 - 12,746
- 12,746
CURRENT ASSETS
Stocks 4 - 24,500
Debtors 5 - 36,174
Cash at bank and in hand 399,359 420,123
399,359 480,797
Creditors: Amounts Falling Due Within One Year 6 (12,458 ) (66,939 )
NET CURRENT ASSETS (LIABILITIES) 386,901 413,858
TOTAL ASSETS LESS CURRENT LIABILITIES 386,901 426,604
PROVISIONS FOR LIABILITIES
Deferred Taxation - (2,420 )
NET ASSETS 386,901 424,184
CAPITAL AND RESERVES
Called up share capital 7 200 2
Profit and Loss Account 386,701 424,182
SHAREHOLDERS' FUNDS 386,901 424,184
Page 1
Page 2
For the year ending 30 June 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 Reece O'Brien
Director
9th December 2024
The notes on pages 3 to 4 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. Accounting Policies
1.1. 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.
1.2. Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
1.3. 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% on cost
Motor Vehicles 25% on cost
1.4. 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.
1.5. 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.
1.6. Registrar Filing Requirements
The company has taken advantage of Companies Act 2006 section 444(1) and opted not to file the profit and loss account, directors report, and notes to the financial statements relating to the profit and loss account.
2. Average Number of Employees
Average number of employees, including directors, during the year was as follows:
2024 2023
Office and administration 3 2
Sales, marketing and distribution - 3
3 5
3. Tangible Assets
Plant & Machinery Motor Vehicles Total
£ £ £
Cost
As at 1 July 2023 3,347 85,102 88,449
Disposals (3,347 ) (68,102 ) (71,449 )
As at 30 June 2024 - 17,000 17,000
...CONTINUED
Page 3
Page 4
Depreciation
As at 1 July 2023 3,347 72,356 75,703
Disposals (3,347 ) (55,356 ) (58,703 )
As at 30 June 2024 - 17,000 17,000
Net Book Value
As at 30 June 2024 - - -
As at 1 July 2023 - 12,746 12,746
4. Stocks
2024 2023
£ £
Stock - 24,500
5. Debtors
2024 2023
£ £
Due within one year
Trade debtors - 36,174
- 36,174
6. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors - 36,680
Corporation tax 5,685 11,746
Other taxes and social security - 1,311
VAT 4,248 16,310
Accruals and deferred income 500 500
Directors' loan accounts 2,025 392
12,458 66,939
7. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 200 2
8. Ultimate Controlling Party
The company's ultimate controlling party is the Directors by virtue of their ownership of 100% of the issued share capital in the company.
9. General Information
Oil Tank Replacement Services Limited is a private company, limited by shares, incorporated in England & Wales, registered number 05165254 . The registered office is 94 Gordon Field, Market Rasen, LN8 3AE.
Page 4