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Registered number: 03212679
Randall Contracting Limited
Unaudited Financial Statements
For The Year Ended 31 August 2024
Bruce Allen LLP
Bruce Allen Llp Ground Floor Suite Crown House
40 North Street
Hornchurch
RM11 1EW
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—7
Page 1
Balance Sheet
Registered number: 03212679
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 138,497 154,879
138,497 154,879
CURRENT ASSETS
Debtors 5 790,601 430,053
Cash at bank and in hand 171,528 304,676
962,129 734,729
Creditors: Amounts Falling Due Within One Year 6 (576,601 ) (347,689 )
NET CURRENT ASSETS (LIABILITIES) 385,528 387,040
TOTAL ASSETS LESS CURRENT LIABILITIES 524,025 541,919
Creditors: Amounts Falling Due After More Than One Year 7 (38,973 ) (98,274 )
PROVISIONS FOR LIABILITIES
Deferred Taxation (26,314 ) (29,427 )
NET ASSETS 458,738 414,218
CAPITAL AND RESERVES
Called up share capital 9 100 100
Profit and Loss Account 458,638 414,118
SHAREHOLDERS' FUNDS 458,738 414,218
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For the year ending 31 August 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.
The financial statements were approved by the board of directors on 24 February 2025 and were signed on its behalf by:
Mr Stephen Randall
Director
24th February 2025
The notes on pages 3 to 7 form part of these financial statements.
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Notes to the Financial Statements
1. General Information
Randall Contracting Limited is a private company, limited by shares, incorporated in England & Wales, registered number 03212679 . The registered office is Unit 12, Dagenham Business Centre, 123 Rainham Road North, Dagenham, Essex, RM10 7FD.
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. Going Concern Disclosure
At the time of approving the financial statements, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus the directors continue to adopt the going concern basis of accounting in preparing the financial statements.
2.3. 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.
2.4. 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 reducing balance
Motor Vehicles 10% on reducing balance
Fixtures & Fittings 25% on reducing balance
Computer Equipment 33% on cost
2.5. 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.
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2.6. 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.

Financial instruments are recognised in the company's statement of financial position when the company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.


Basic financial assets
Basic financial assets, which include trade and other receivables and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.


Other financial assets
Other financial assets, including investments in equity instruments which are not subsidiaries, associates or joint ventures, are initially measured at fair value, which is normally the transaction price. Such assets are subsequently carried at fair value and the changes in fair value are recognised in profit or loss, except that investments in equity instruments that are not publically traded and whose fair values cannot be measured reliably are measured at cost less impairment.

2.7. 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 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.
2.8. Cash and cash equivalents
Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.
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2.9. Impairment of fixed assets
At each reporting end date, the company reviews the carrying amounts of its tangible and intangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.

Recoverable amount is the higher of fair value less costs to sell and value in use. In assessing value in use, the estimated future cash flows are discounted to their present value using a pre-tax discount rate that reflects current market assessments of the time value of money and the risks specific to the asset for which the estimates of future cash flows have not been adjusted.

If the recoverable amount of an asset (or cash-generating unit) is estimated to be less than its carrying amount, the carrying amount of the asset (or cash-generating unit) is reduced to its recoverable amount. An impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the impairment loss is treated as a revaluation decrease.

Recognised impairment losses are reversed if, and only if, the reasons for the impairment loss have ceased to apply. Where an impairment loss subsequently reverses, the carrying amount of the asset (or cash-generating unit) is increased to the revised estimate of its recoverable amount, but so that the increased carrying amount does not exceed the carrying amount that would have been determined had no impairment loss been recognised for the asset (or cash-generating unit) prior years. A reversal of an impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried in at a revalued amount, in which case the reversal of the impairment loss is treated as a revaluation increase.

1.11. Equity Instruments

Equity instruments issued by the company are recorded at the proceeds received, net of direct issue costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

1.12. Employee Benefits

The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.

The cost of any unused holiday entitlement is recognised in the period in which the employee's services are received.

Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

3. Average Number of Employees
Average number of employees, including directors, during the year was as follows:
2024 2023
Office and administration 4 6
Sales, marketing and distribution 1 2
5 8
4. Tangible Assets
Plant & Machinery Motor Vehicles Fixtures & Fittings Computer Equipment Total
£ £ £ £ £
Cost
As at 1 September 2023 119,986 152,230 49,384 3,139 324,739
Disposals (8,700 ) - - - (8,700 )
As at 31 August 2024 111,286 152,230 49,384 3,139 316,039
Depreciation
As at 1 September 2023 73,147 46,747 46,858 3,108 169,860
Provided during the period 4,630 10,549 632 31 15,842
Disposals (8,160 ) - - - (8,160 )
As at 31 August 2024 69,617 57,296 47,490 3,139 177,542
...CONTINUED
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Net Book Value
As at 31 August 2024 41,669 94,934 1,894 - 138,497
As at 1 September 2023 46,839 105,483 2,526 31 154,879
Included above are assets held under finance leases or hire purchase contracts with a net book value as follows:
2024 2023
£ £
Motor Vehicles - 55,093
5. Debtors
2024 2023
£ £
Due within one year
Trade debtors 505,688 383,800
Prepayments and accrued income 245,429 12,200
Other debtors 33,797 30,053
VAT 5,687 -
Directors' loan accounts - 4,000
790,601 430,053
6. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Net obligations under finance lease and hire purchase contracts 19,293 10,837
Trade creditors 265,603 190,620
Bank loans and overdrafts 40,000 40,000
Corporation tax 35,277 -
Other taxes and social security 7,135 22,626
VAT - 15,974
Net wages - 1,465
Other creditors 790 779
R Randall Ltd 151,138 8,138
Accruals and deferred income 57,365 57,250
576,601 347,689
The aggregate amount of creditors for which security has been provided amounted to £59,292 (2023 - £50,537).
Obligations under finance lease and hire purchase contracts totalling £19,292 (2023 - £10,837) are secured against the company assets to which the contract relates.
Security has been provided to Santander UK PLC relating to bank loans totalling £40,000 (2023 - £40,000). The security is in the form of fixed and floating charges; the floating charge covers all the property or undertaking of the company.
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7. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Net obligations under finance lease and hire purchase contracts 2,306 21,599
Bank loans 36,667 76,675
38,973 98,274
The aggregate amount of creditors for which security has been provided amounted to £38,973 (2023 - £98,297).
Obligations under finance lease and hire purchase contracts totalling £2,306 (2023 - £21,599) are secured against the company assets to which the contract relates.
Security has been provided to Santander UK PLC relating to bank loans totalling £36,667 (2023 - £76,698). The security is in the form of fixed and floating charges; the floating charge covers all the property or undertaking of the company.
8. Obligations Under Finance Leases and Hire Purchase
2024 2023
£ £
The future minimum finance lease payments are as follows:
Not later than one year 19,293 10,837
Later than one year and not later than five years 2,306 21,599
21,599 32,436
21,599 32,436
9. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 100 100
10. Related Party Transactions
During the year the company made costs of £406,565 (2023 - £56,433) to Randall Plant Limited, a company controlled by Mr S Randall. At the year end the company was owed £2,706 (2023 - £62,168) from Randall Plant Limited.
During the year the company was charged costs totalling £161,637 (2023 - £113,541) from Randall Plant Limited.
Randall Contracting Limited were charged £5,000 (2023 - £5,000) for rent by R Randall Limited. 
Randall Contracting Limited were charged £Nil (2023 - £40,000) for a management charge by Randall Plant Limited. At the year end the company owed £7,990 (2023 - £29,558) to Randall Plant Limited.
Randall Contracting Limited charged £223,096 (2023 - £Nil) for a management charge to Randall Plant Limited.
At the year end Randall Contracting Limited owed £151,138 (2023 - £8,138) to R Randall Limited.
Randall Contracting Limited was owed £9,044 (2023 - £5,300) from Randall Plant Limited.
Randall Contracting Limited were charged £Nil (2023 - £55,000) for surveying costs by Hillmore Limited, a company controlled by Mr S McNamara. At the year end the company owed £Nil (2023 - £12,000) to Hillmore Limited.
Randall Contracting were charged £58,000 ( 2023- £Nil) for surveying Costs by Torconpm Ltd , A company Controlled by Mr S McNamara. At the year end the Company owed  £2000 ( 2023- £Nil) to Torconpm Ltd.
11. Audit Information
The auditor's report on the accounts of Randall Contracting Limited for the year ended 31 August 2024 was unqualified.
The auditor's report was signed by Statutory Auditor.
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