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Registered number: 01155816
Broanmain Limited
Unaudited Financial Statements
For The Year Ended 30 September 2024
TONY R J ELSDON FCCA
Chartered Certified Accountant
31 Wildcroft Drive
North Holmwood
Dorking
Surrey
RH5 4TL
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—6
Page 1
Balance Sheet
Registered number: 01155816
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 423,018 307,866
423,018 307,866
CURRENT ASSETS
Stocks 5 727,532 606,047
Debtors 6 513,872 352,312
Cash at bank and in hand 122 126
1,241,526 958,485
Creditors: Amounts Falling Due Within One Year 7 (1,113,675 ) (828,007 )
NET CURRENT ASSETS (LIABILITIES) 127,851 130,478
TOTAL ASSETS LESS CURRENT LIABILITIES 550,869 438,344
Creditors: Amounts Falling Due After More Than One Year 8 (49,883 ) (115,798 )
PROVISIONS FOR LIABILITIES
Deferred Taxation 10 (105,755 ) (97,154 )
NET ASSETS 395,231 225,392
CAPITAL AND RESERVES
Called up share capital 11 100 100
Profit and Loss Account 395,131 225,292
SHAREHOLDERS' FUNDS 395,231 225,392
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For the year ending 30 September 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 W Davis
Director
Mrs J Davis
Director
8 January 2025
The notes on pages 3 to 6 form part of these financial statements.
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Notes to the Financial Statements
1. General Information
Broanmain Limited is a private company, limited by shares, incorporated in England & Wales, registered number 01155816 . The registered office is Forge Works, Horsham Road, Mid Holmwood, Dorking, Surrey, RH5 4EJ.
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 form the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover form 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 10% on cost
Motor Vehicles 33% on cost
Computer Equipment 10% on cost
2.4. 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.

At each reporting date, an assessment is made for impairment. Any excess of the carrying value of stocks over its estimated net realisable value less costs to complete and sell is recognised as an impairment loss in the profit and loss account. Reversals of impairment losses are also recognised in the profit and loss account.
2.5. Financial Instruments
The company has elected to apply the provisions of section 11 'Basic Financial Instruments' and section 12 'Other Financial Instruments Issues' of FRS 102 to all of its financial instruments.
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. Taxation
The 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: 32 (2023: 30)
32 30
4. Tangible Assets
Plant & Machinery Motor Vehicles Computer Equipment Total
£ £ £ £
Cost
As at 1 October 2023 912,400 15,000 57,320 984,720
Additions 173,366 - 1,431 174,797
As at 30 September 2024 1,085,766 15,000 58,751 1,159,517
Depreciation
As at 1 October 2023 611,332 10,000 55,522 676,854
Provided during the period 53,628 5,000 1,017 59,645
As at 30 September 2024 664,960 15,000 56,539 736,499
Net Book Value
As at 30 September 2024 420,806 - 2,212 423,018
As at 1 October 2023 301,068 5,000 1,798 307,866
Included within the net book value of £423,018 is £86,845 (2023: £94,378) relating to assets held under hire purchase agreements. The depreciation charged for the year in respect of such assets amounted to £11,528 (2023: £16,528).
5. Stocks
2024 2023
£ £
Stock 727,532 606,047
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6. Debtors
2024 2023
£ £
Due within one year
Trade debtors 451,995 302,908
Prepayments and accrued income 51,877 46,697
Other debtors 10,000 2,707
513,872 352,312
7. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 238,166 409,733
Bank loans and overdrafts 506,866 169,269
Corporation tax 53,944 -
Other taxes and social security 19,804 14,222
VAT 104,135 56,462
Other creditors 3,616 1,736
Accruals and deferred income 116,695 6,000
Directors' loan accounts - 35,839
Bank and finance loans payable within 12 months 70,449 134,746
1,113,675 828,007
8. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Bank and finance loans payable after 12 months 49,883 115,798
9. Secured Creditors
Of the creditors falling due within and after more than one year the following amounts are secured:-
A bank overdraft which is secured by a debenture dated 6 March 2006 in favour of HSBC Bank plc granting fixed and floating charges over the assets of the company. 
A bank loan is secured by way of two legal mortgages dated 31 January 2011 in favour of HSBC Bank plc over the freehold property at Forge Works, Horsham Road, Mid Holmwood, Dorking, Surrey which is owned by The Broanmain Directors Pension Scheme.
The cash flow facilities provided by Mitsubishi HC Capital UK PLC (trading as Novuna Business Cash Flow) are secured by a debenture dated 19 December 2023 by way of a fixed and floating charge over all of the property or undertaking of the company
The totals of net obligations under hire purchase contracts and bank loans and overdrafts outstanding at the balance sheet date were as follows:- 
2024 2023
£ £
Net obligations under finance lease and hire purchase contracts 97,330 158,782
Bank loans and overdrafts 529,866 261,031
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10. Deferred Taxation
The provision for deferred taxation is made up of accelerated capital allowances which are expected to reverse over time.
2024 2023
£ £
Other timing differences 105,755 97,154
11. Share Capital
2024 2023
Allotted, called up and fully paid £ £
60 Ordinary A shares of £ 1 each 60 60
40 Ordinary B shares of £ 1 each 40 40
100 100
12. Other Commitments
The total of future minimum lease payments under non-cancellable operating leases payable over the next twelve months are as follows:
2024 2023
£ £
Not later than one year 82,908 91,900
82,908 91,900
13. Dividends
2024 2023
£ £
On equity shares:
Final dividend paid 273,591 230,500
14. Related Party Transactions
During the year the company paid dividends of £189,091 (2023: £142,500) to Mr W M Davis and £84,500 (2023: £88,000) to Mrs J V Davis, both of whom are directors and shareholders.  At the balance sheet date the directors did not owe any amount to the company, 
The company is related to The Broanmain Directors Pension Scheme, a pension scheme of which Mr W M Davis and Mrs J V Davis are both beneficiaries. The freehold property from which the company trades is owned entirely by The Broanmain Directors Pension Scheme. During the year the company was charged rent of £73,000 (2023: £73,000) by the pension scheme.  During the year the company also made pension contibutions of £60,000 to the directors pension scheme.
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