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 07641074 Mr Kieran Courtney iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 07641074 2023-05-31 07641074 2024-05-31 07641074 2023-06-01 2024-05-31 07641074 frs-core:CurrentFinancialInstruments 2024-05-31 07641074 frs-core:Non-currentFinancialInstruments 2024-05-31 07641074 frs-core:BetweenOneFiveYears 2024-05-31 07641074 frs-core:ComputerEquipment 2024-05-31 07641074 frs-core:ComputerEquipment 2023-06-01 2024-05-31 07641074 frs-core:ComputerEquipment 2023-05-31 07641074 frs-core:FurnitureFittings 2024-05-31 07641074 frs-core:FurnitureFittings 2023-06-01 2024-05-31 07641074 frs-core:FurnitureFittings 2023-05-31 07641074 frs-core:MotorVehicles 2024-05-31 07641074 frs-core:MotorVehicles 2023-06-01 2024-05-31 07641074 frs-core:MotorVehicles 2023-05-31 07641074 frs-core:PlantMachinery 2024-05-31 07641074 frs-core:PlantMachinery 2023-06-01 2024-05-31 07641074 frs-core:PlantMachinery 2023-05-31 07641074 frs-core:WithinOneYear 2024-05-31 07641074 frs-core:ShareCapital 2024-05-31 07641074 frs-core:RetainedEarningsAccumulatedLosses 2024-05-31 07641074 frs-bus:PrivateLimitedCompanyLtd 2023-06-01 2024-05-31 07641074 frs-bus:FilletedAccounts 2023-06-01 2024-05-31 07641074 frs-bus:SmallEntities 2023-06-01 2024-05-31 07641074 frs-bus:AuditExempt-NoAccountantsReport 2023-06-01 2024-05-31 07641074 frs-bus:SmallCompaniesRegimeForAccounts 2023-06-01 2024-05-31 07641074 frs-bus:Director1 2023-06-01 2024-05-31 07641074 frs-countries:EnglandWales 2023-06-01 2024-05-31 07641074 2022-05-31 07641074 2023-05-31 07641074 2022-06-01 2023-05-31 07641074 frs-core:CurrentFinancialInstruments 2023-05-31 07641074 frs-core:Non-currentFinancialInstruments 2023-05-31 07641074 frs-core:BetweenOneFiveYears 2023-05-31 07641074 frs-core:WithinOneYear 2023-05-31 07641074 frs-core:ShareCapital 2023-05-31 07641074 frs-core:RetainedEarningsAccumulatedLosses 2023-05-31
Registered number: 07641074
LBW Machines Ltd
Unaudited Financial Statements
For The Year Ended 31 May 2024
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 07641074
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 52,602 66,444
52,602 66,444
CURRENT ASSETS
Debtors 5 1,512 680
Cash at bank and in hand 253,805 247,616
255,317 248,296
Creditors: Amounts Falling Due Within One Year 6 (23,017 ) (25,456 )
NET CURRENT ASSETS (LIABILITIES) 232,300 222,840
TOTAL ASSETS LESS CURRENT LIABILITIES 284,902 289,284
Creditors: Amounts Falling Due After More Than One Year 7 (38,290 ) (40,564 )
PROVISIONS FOR LIABILITIES
Deferred Taxation 9 (10,731 ) (12,624 )
NET ASSETS 235,881 236,096
CAPITAL AND RESERVES
Called up share capital 10 100 100
Profit and Loss Account 235,781 235,996
SHAREHOLDERS' FUNDS 235,881 236,096
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 Kieran Courtney
Director
13/02/2025
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
LBW Machines Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 07641074 . The registered office is 8 Regents Way, Sutton Coldfield, West Midlands, B75 7NW.
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 25% reducing balance
Motor Vehicles 25% reducing balance
Fixtures & Fittings 25% straight line
Computer Equipment 25% straight line
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.
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.
...CONTINUED
Page 3
Page 4
2.5. Taxation - continued
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.
2.6. Pensions
The company operates a defined pension contribution scheme. Contributions are charged to the profit and loss account as they become payable in accordance with the rules of the scheme.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 1 (2023: 1)
1 1
4. Tangible Assets
Plant & Machinery Motor Vehicles Fixtures & Fittings Computer Equipment Total
£ £ £ £ £
Cost
As at 1 June 2023 - 71,048 1,599 8,719 81,366
Additions 3,692 - - - 3,692
As at 31 May 2024 3,692 71,048 1,599 8,719 85,058
Depreciation
As at 1 June 2023 - 4,604 1,599 8,719 14,922
Provided during the period 923 16,611 - - 17,534
As at 31 May 2024 923 21,215 1,599 8,719 32,456
Net Book Value
As at 31 May 2024 2,769 49,833 - - 52,602
As at 1 June 2023 - 66,444 - - 66,444
5. Debtors
2024 2023
£ £
Due within one year
Trade debtors 1,512 680
6. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Net obligations under finance lease and hire purchase contracts 3,816 4,040
Other taxes and social security 15,384 17,028
Other creditors 3,817 4,388
23,017 25,456
Page 4
Page 5
7. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Net obligations under finance lease and hire purchase contracts 38,290 40,564
8. Obligations Under Finance Leases and Hire Purchase
2024 2023
£ £
The future minimum finance lease payments are as follows:
Not later than one year 3,816 4,040
Later than one year and not later than five years 38,290 40,564
42,106 44,604
42,106 44,604
9. Deferred Taxation
The provision for deferred tax is made up as follows:
2024 2023
£ £
Other timing differences 10,731 12,624
10. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 100 100
Page 5