Acorah Software Products - Accounts Production 16.1.300 false true 30 September 2023 1 October 2022 false 1 October 2023 30 September 2024 30 September 2024 NI614489 Mr NOEL SMITH Mr Noel Smith true iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure NI614489 2023-09-30 NI614489 2024-09-30 NI614489 2023-10-01 2024-09-30 NI614489 frs-core:CurrentFinancialInstruments 2024-09-30 NI614489 frs-core:Non-currentFinancialInstruments 2024-09-30 NI614489 frs-core:LandBuildings 2024-09-30 NI614489 frs-core:LandBuildings 2023-10-01 2024-09-30 NI614489 frs-core:LandBuildings 2023-09-30 NI614489 frs-core:LandBuildings frs-core:OwnedOrFreeholdAssets 2023-10-01 2024-09-30 NI614489 frs-core:MotorVehicles 2023-10-01 2024-09-30 NI614489 frs-core:PlantMachinery 2024-09-30 NI614489 frs-core:PlantMachinery 2023-10-01 2024-09-30 NI614489 frs-core:PlantMachinery 2023-09-30 NI614489 frs-core:ShareCapital 2024-09-30 NI614489 frs-core:RetainedEarningsAccumulatedLosses 2024-09-30 NI614489 frs-bus:PrivateLimitedCompanyLtd 2023-10-01 2024-09-30 NI614489 frs-bus:FilletedAccounts 2023-10-01 2024-09-30 NI614489 frs-bus:SmallEntities 2023-10-01 2024-09-30 NI614489 frs-bus:AuditExempt-NoAccountantsReport 2023-10-01 2024-09-30 NI614489 frs-bus:SmallCompaniesRegimeForAccounts 2023-10-01 2024-09-30 NI614489 1 2023-10-01 2024-09-30 NI614489 frs-bus:Director1 2023-10-01 2024-09-30 NI614489 frs-countries:NorthernIreland 2023-10-01 2024-09-30 NI614489 2022-09-30 NI614489 2023-09-30 NI614489 2022-10-01 2023-09-30 NI614489 frs-core:CurrentFinancialInstruments 2023-09-30 NI614489 frs-core:Non-currentFinancialInstruments 2023-09-30 NI614489 frs-core:ShareCapital 2023-09-30 NI614489 frs-core:RetainedEarningsAccumulatedLosses 2023-09-30
Registered number: NI614489
Noel Smith Ltd
Unaudited Financial Statements
For The Year Ended 30 September 2024
Alan Hall Accountancy
7 Dunseark Road
Dungannon
Co Tyrone
BT71 7PH
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: NI614489
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 544,076 595,382
544,076 595,382
CURRENT ASSETS
Stocks 5 - 87,903
Debtors 6 59,683 42,697
Cash at bank and in hand 120,404 56,221
180,087 186,821
Creditors: Amounts Falling Due Within One Year 7 (134,651 ) (229,040 )
NET CURRENT ASSETS (LIABILITIES) 45,436 (42,219 )
TOTAL ASSETS LESS CURRENT LIABILITIES 589,512 553,163
Creditors: Amounts Falling Due After More Than One Year 8 (156,789 ) (242,515 )
PROVISIONS FOR LIABILITIES
Deferred Taxation 10 (47,200 ) (47,800 )
NET ASSETS 385,523 262,848
CAPITAL AND RESERVES
Called up share capital 11 100 100
Profit and Loss Account 385,423 262,748
SHAREHOLDERS' FUNDS 385,523 262,848
Page 1
Page 2
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 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 NOEL SMITH
Director
19/02/2025
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
Noel Smith Ltd Registered number NI614489 is a limited by shares company incorporated in Northern Ireland. The Registered Office is 39 Killyliss Road, Dungannon, Co. Tyrone, BT70 1QQ.
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. 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:
Freehold 5% straight line
Plant & Machinery 10-20% straight line
Motor Vehicles 20% reducing balance
2.4. Leasing and Hire Purchase Contracts
Assets obtained under hire purchase contracts and 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. 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.
2.6. 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.
2.7. Government Grant
Government grants have been disclosed in the financial statement in line with the SSAP 4 disclosure requirements. 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.
Page 3
Page 4
2.8. 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.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 2 (2023: 2)
2 2
4. Tangible Assets
Land & Buildings Plant & Machinery etc. Total
£ £ £
Cost
As at 1 October 2023 587,255 708,813 1,296,068
Additions 1,100 33,890 34,990
Disposals - (19,750 ) (19,750 )
As at 30 September 2024 588,355 722,953 1,311,308
Depreciation
As at 1 October 2023 217,787 482,899 700,686
Provided during the period 29,417 56,879 86,296
Disposals - (19,750 ) (19,750 )
As at 30 September 2024 247,204 520,028 767,232
Net Book Value
As at 30 September 2024 341,151 202,925 544,076
As at 1 October 2023 369,468 225,914 595,382
5. Stocks
2024 2023
£ £
Stocks - 87,903
6. Debtors
2024 2023
£ £
Due within one year
Trade debtors 52,337 38,342
Other debtors 7,346 4,355
59,683 42,697
7. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 3,008 91,335
Bank loans and overdrafts 109,179 114,455
Other creditors 8,201 10,149
Taxation and social security 14,263 13,101
134,651 229,040
Page 4
Page 5
8. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Bank loans 156,789 242,515
10. Deferred Taxation
The provision for deferred tax is made up as follows:
2024 2023
£ £
Other timing differences 47,200 47,800
11. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 100 100
12. Directors Advances, Credits and Guarantees
Dividends paid to directors
13. Ultimate Controlling Party
The company's ultimate controlling party is Mr Noel Smith by virtue of his ownership of 100% of the issued share capital in the company.
Page 5