Acorah Software Products - Accounts Production 16.1.300 false true 31 October 2023 1 October 2022 false 1 November 2023 31 October 2024 31 October 2024 NI640693 Mr Andrew Brodison Mrs Jane Brodison iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure NI640693 2023-10-31 NI640693 2024-10-31 NI640693 2023-11-01 2024-10-31 NI640693 frs-core:CurrentFinancialInstruments 2024-10-31 NI640693 frs-core:Non-currentFinancialInstruments 2024-10-31 NI640693 frs-core:FurnitureFittings 2024-10-31 NI640693 frs-core:FurnitureFittings 2023-11-01 2024-10-31 NI640693 frs-core:FurnitureFittings 2023-10-31 NI640693 frs-core:LandBuildings frs-core:OwnedOrFreeholdAssets 2024-10-31 NI640693 frs-core:LandBuildings frs-core:OwnedOrFreeholdAssets 2023-11-01 2024-10-31 NI640693 frs-core:LandBuildings frs-core:OwnedOrFreeholdAssets 2023-10-31 NI640693 frs-core:MotorVehicles 2024-10-31 NI640693 frs-core:MotorVehicles 2023-11-01 2024-10-31 NI640693 frs-core:MotorVehicles 2023-10-31 NI640693 frs-core:PlantMachinery 2024-10-31 NI640693 frs-core:PlantMachinery 2023-11-01 2024-10-31 NI640693 frs-core:PlantMachinery 2023-10-31 NI640693 frs-core:ShareCapital 2024-10-31 NI640693 frs-core:RetainedEarningsAccumulatedLosses 2024-10-31 NI640693 frs-bus:PrivateLimitedCompanyLtd 2023-11-01 2024-10-31 NI640693 frs-bus:FilletedAccounts 2023-11-01 2024-10-31 NI640693 frs-bus:SmallEntities 2023-11-01 2024-10-31 NI640693 frs-bus:AuditExempt-NoAccountantsReport 2023-11-01 2024-10-31 NI640693 frs-bus:SmallCompaniesRegimeForAccounts 2023-11-01 2024-10-31 NI640693 frs-bus:Director1 2023-11-01 2024-10-31 NI640693 frs-bus:Director2 2023-11-01 2024-10-31 NI640693 frs-countries:NorthernIreland 2023-11-01 2024-10-31 NI640693 2022-09-30 NI640693 2023-10-31 NI640693 2022-10-01 2023-10-31 NI640693 frs-core:CurrentFinancialInstruments 2023-10-31 NI640693 frs-core:Non-currentFinancialInstruments 2023-10-31 NI640693 frs-core:ShareCapital 2023-10-31 NI640693 frs-core:RetainedEarningsAccumulatedLosses 2023-10-31
Registered number: NI640693
ARB Process Engineering Limited
Unaudited Financial Statements
For The Year Ended 31 October 2024
Gray + Press Accountants
21 Old Channel Road
Unit 4A Channel Wharf
Belfast
Antrim
BT3 9DE
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: NI640693
31 October 2024 31 October 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 1,579,093 1,282,983
1,579,093 1,282,983
CURRENT ASSETS
Stocks 5 930,002 930,002
Debtors 6 2,750,269 1,576,859
Cash at bank and in hand 1,208,715 1,101,502
4,888,986 3,608,363
Creditors: Amounts Falling Due Within One Year 7 (3,643,927 ) (1,982,480 )
NET CURRENT ASSETS (LIABILITIES) 1,245,059 1,625,883
TOTAL ASSETS LESS CURRENT LIABILITIES 2,824,152 2,908,866
Creditors: Amounts Falling Due After More Than One Year 8 (560,261 ) (679,339 )
NET ASSETS 2,263,891 2,229,527
CAPITAL AND RESERVES
Called up share capital 100 100
Profit and Loss Account 2,263,791 2,229,427
SHAREHOLDERS' FUNDS 2,263,891 2,229,527
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For the year ending 31 October 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
Mrs Jane Brodison
Director
23/12/2024
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
ARB Process Engineering Limited is a private company, limited by shares, incorporated in Northern Ireland, registered number NI640693 . The registered office is 36 Agharan Road, Dungannon, County Tyrone, BT71 4HG.
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:
Freehold 4% Straight Line
Plant & Machinery 20% Straight Line
Motor Vehicles 25% Reducing Balance
Fixtures & Fittings 20% Straight Line
2.4. Leasing and Hire Purchase Contracts
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profit on a straight line basis over the lease term.
Assets held under finance leases and hire purchase contracts are capitalised and depreciated over their useful lives. The corresponding lease or hire purchase obligation is treated in the balance sheet as a liability. The interest element of rental obligations is charged to the profit and loss account over the period of the lease at a constant proportion of the outstanding balance of capital repayments.
2.5. Stocks and Work in Progress
Inventories have been valued at the lower of cost and estimated selling price less costs to complete and sell. In respect of work in progress and finished goods, cost includes a relevant proportion of overheads according to the stage of manufacturing/completion.
2.6. Foreign Currencies
Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate ruling on the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
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2.7. Government Grant
Government grants are recognised in the profit and loss account in an appropriate manner that matches them with the expenditure towards which they are intended to contribute.
Grants for immediate financial support or to cover costs already incurred are recognised immediately in the profit and loss account. Grants towards general activities of the entity over a specific period are recognised in the profit and loss account over that period.
Grants towards fixed assets are recognised over the expected useful lives of the related assets and are treated as deferred income and released to the profit and loss account over the useful life of the asset concerned.
All grants in the profit and loss account are recognised when all conditions for receipt have been complied with.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 9 (2023: 7)
9 7
4. Tangible Assets
Land & Property
Freehold Plant & Machinery Motor Vehicles Fixtures & Fittings Total
£ £ £ £ £
Cost
As at 1 November 2023 138,561 1,199,312 220,058 2,825 1,560,756
Additions 217,479 325,772 28,000 31,339 602,590
As at 31 October 2024 356,040 1,525,084 248,058 34,164 2,163,346
Depreciation
As at 1 November 2023 - 227,123 49,799 851 277,773
Provided during the period 2,598 254,014 47,149 2,719 306,480
As at 31 October 2024 2,598 481,137 96,948 3,570 584,253
Net Book Value
As at 31 October 2024 353,442 1,043,947 151,110 30,594 1,579,093
As at 1 November 2023 138,561 972,189 170,259 1,974 1,282,983
5. Stocks
31 October 2024 31 October 2023
£ £
Stock 930,002 930,002
6. Debtors
31 October 2024 31 October 2023
£ £
Due within one year
Trade debtors 1,981,600 862,454
Other debtors 768,669 714,405
2,750,269 1,576,859
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7. Creditors: Amounts Falling Due Within One Year
31 October 2024 31 October 2023
£ £
Net obligations under finance lease and hire purchase contracts 166,815 123,031
Trade creditors 1,581,954 1,029,482
Bank loans and overdrafts 124,727 121,865
Amounts owed to group undertakings 241,643 -
Amounts owed to participating interests - 181,709
Other creditors 1,311,640 199,752
Taxation and social security 217,148 326,641
3,643,927 1,982,480
8. Creditors: Amounts Falling Due After More Than One Year
31 October 2024 31 October 2023
£ £
Net obligations under finance lease and hire purchase contracts 358,753 332,300
Bank loans 201,508 347,039
560,261 679,339
9. Related Party Transactions
A number of assets were bought, built and commissioned by ARB Process Engineering Limited and leased for operation to ARB (Bellshill) Limited. The term and pricing is under annual review by management.
Included in other debtors is amounts the company is owed from related parties totalling £350,293 (2022 - £350,293).
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