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 05464648 Robert Hutton Ross Hutton Robert Hutton iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 05464648 2023-05-31 05464648 2024-05-31 05464648 2023-06-01 2024-05-31 05464648 frs-core:CurrentFinancialInstruments 2024-05-31 05464648 frs-core:Non-currentFinancialInstruments 2024-05-31 05464648 frs-core:FurnitureFittings 2024-05-31 05464648 frs-core:FurnitureFittings 2023-06-01 2024-05-31 05464648 frs-core:FurnitureFittings 2023-05-31 05464648 frs-core:LandBuildings frs-core:OwnedOrFreeholdAssets 2023-06-01 2024-05-31 05464648 frs-core:MotorVehicles 2024-05-31 05464648 frs-core:MotorVehicles 2023-06-01 2024-05-31 05464648 frs-core:MotorVehicles 2023-05-31 05464648 frs-core:PlantMachinery 2024-05-31 05464648 frs-core:PlantMachinery 2023-06-01 2024-05-31 05464648 frs-core:PlantMachinery 2023-05-31 05464648 frs-core:ShareCapital 2024-05-31 05464648 frs-core:RetainedEarningsAccumulatedLosses 2024-05-31 05464648 frs-bus:PrivateLimitedCompanyLtd 2023-06-01 2024-05-31 05464648 frs-bus:FilletedAccounts 2023-06-01 2024-05-31 05464648 frs-bus:SmallEntities 2023-06-01 2024-05-31 05464648 frs-bus:AuditExempt-NoAccountantsReport 2023-06-01 2024-05-31 05464648 frs-bus:SmallCompaniesRegimeForAccounts 2023-06-01 2024-05-31 05464648 frs-bus:Director1 2023-06-01 2024-05-31 05464648 frs-bus:Director2 2023-06-01 2024-05-31 05464648 frs-bus:CompanySecretary1 2023-06-01 2024-05-31 05464648 frs-countries:EnglandWales 2023-06-01 2024-05-31 05464648 2022-05-31 05464648 2023-05-31 05464648 2022-06-01 2023-05-31 05464648 frs-core:CurrentFinancialInstruments 2023-05-31 05464648 frs-core:Non-currentFinancialInstruments 2023-05-31 05464648 frs-core:ShareCapital 2023-05-31 05464648 frs-core:RetainedEarningsAccumulatedLosses 2023-05-31
Registered number: 05464648
Autotecnic Limited
Financial Statements
For The Year Ended 31 May 2024
Gravitate Accounting
Financial Statements
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 05464648
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 3 67,269 70,268
67,269 70,268
CURRENT ASSETS
Stocks 4 2,188 2,860
Debtors 5 4,049 13,237
Cash at bank and in hand 89,662 101,576
95,899 117,673
Creditors: Amounts Falling Due Within One Year 6 (63,062 ) (56,150 )
NET CURRENT ASSETS (LIABILITIES) 32,837 61,523
TOTAL ASSETS LESS CURRENT LIABILITIES 100,106 131,791
Creditors: Amounts Falling Due After More Than One Year 7 (7,000 ) (14,000 )
PROVISIONS FOR LIABILITIES
Deferred Taxation (10,121 ) (12,056 )
NET ASSETS 82,985 105,735
CAPITAL AND RESERVES
Called up share capital 8 200 200
Profit and Loss Account 82,785 105,535
SHAREHOLDERS' FUNDS 82,985 105,735
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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 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
Robert Hutton
Director
14th February 2025
The notes on pages 3 to 5 form part of these financial statements.
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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 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.
1.3. 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 10% straight line
Plant & Machinery 20% reducing balance
Motor Vehicles 25% reducing balance
Fixtures & Fittings 25% reducing balance / 25% straight line
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
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 years 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 assets reflect 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 and deferred tax are recognised in profit or loss for the year, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case current and deferred tax are recognised in other comprehensive income or directly in equity respectively.
2. Average Number of Employees
Average number of employees, including directors, during the year was as follows: 6 (2023: 5)
6 5
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3. Tangible Assets
Plant & Machinery Motor Vehicles Fixtures & Fittings Total
£ £ £ £
Cost
As at 1 June 2023 155,601 6,750 70,755 233,106
Additions 8,836 - 4,759 13,595
As at 31 May 2024 164,437 6,750 75,514 246,701
Depreciation
As at 1 June 2023 108,132 3,291 51,415 162,838
Provided during the period 10,320 865 5,409 16,594
As at 31 May 2024 118,452 4,156 56,824 179,432
Net Book Value
As at 31 May 2024 45,985 2,594 18,690 67,269
As at 1 June 2023 47,469 3,459 19,340 70,268
4. Stocks
2024 2023
£ £
Stock 2,188 2,860
5. Debtors
2024 2023
£ £
Due within one year
Trade debtors 2,854 1,321
Other debtors 1,195 11,916
4,049 13,237
6. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 26,021 13,852
Bank loans and overdrafts 7,000 7,000
Other taxes and social security 22,552 28,588
Other creditors 7,489 6,710
63,062 56,150
7. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Bank loans 7,000 14,000
7,000 14,000
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8. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 200 200
9. General Information
Autotecnic Limited is a private company, limited by shares, incorporated in England & Wales, registered number 05464648 . The registered office is Unit 12 Meadowhall Industrial, Estate, Amos Road, Meadowhall, Sheffield, South Yorkshire, S9 1BX.
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