Acorah Software Products - Accounts Production 16.1.300 false true 28 February 2023 1 March 2022 false 1 March 2023 29 February 2024 29 February 2024 08404291 Mr John Card Mr Jon Card iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 08404291 2023-02-28 08404291 2024-02-29 08404291 2023-03-01 2024-02-29 08404291 frs-core:CurrentFinancialInstruments 2024-02-29 08404291 frs-core:Non-currentFinancialInstruments 2024-02-29 08404291 frs-core:NetGoodwill 2023-03-01 2024-02-29 08404291 frs-core:MotorVehicles 2024-02-29 08404291 frs-core:MotorVehicles 2023-03-01 2024-02-29 08404291 frs-core:MotorVehicles 2023-02-28 08404291 frs-core:PlantMachinery 2024-02-29 08404291 frs-core:PlantMachinery 2023-03-01 2024-02-29 08404291 frs-core:PlantMachinery 2023-02-28 08404291 frs-core:ShareCapital 2024-02-29 08404291 frs-core:RetainedEarningsAccumulatedLosses 2024-02-29 08404291 frs-bus:PrivateLimitedCompanyLtd 2023-03-01 2024-02-29 08404291 frs-bus:FilletedAccounts 2023-03-01 2024-02-29 08404291 frs-bus:SmallEntities 2023-03-01 2024-02-29 08404291 frs-bus:AuditExempt-NoAccountantsReport 2023-03-01 2024-02-29 08404291 frs-bus:SmallCompaniesRegimeForAccounts 2023-03-01 2024-02-29 08404291 frs-bus:Director1 2023-03-01 2024-02-29 08404291 frs-bus:Director2 2023-03-01 2024-02-29 08404291 frs-countries:EnglandWales 2023-03-01 2024-02-29 08404291 2022-02-28 08404291 2023-02-28 08404291 2022-03-01 2023-02-28 08404291 frs-core:CurrentFinancialInstruments 2023-02-28 08404291 frs-core:Non-currentFinancialInstruments 2023-02-28 08404291 frs-core:ShareCapital 2023-02-28 08404291 frs-core:RetainedEarningsAccumulatedLosses 2023-02-28
Registered number: 08404291
John Card Accident Repair Centre Ltd
Unaudited Financial Statements
For The Year Ended 29 February 2024
Peters, White and CO
46-48 Devonport Road
Stoke
Plymouth
Devon
PL3 4DH
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—6
Page 1
Balance Sheet
Registered number: 08404291
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 28,011 30,494
28,011 30,494
CURRENT ASSETS
Stocks 5 182,500 270,732
Debtors 6 484,467 325,311
Cash at bank and in hand 414,147 206,632
1,081,114 802,675
Creditors: Amounts Falling Due Within One Year 7 (465,972 ) (328,888 )
NET CURRENT ASSETS (LIABILITIES) 615,142 473,787
TOTAL ASSETS LESS CURRENT LIABILITIES 643,153 504,281
Creditors: Amounts Falling Due After More Than One Year 8 (70,588 ) (146,088 )
NET ASSETS 572,565 358,193
CAPITAL AND RESERVES
Called up share capital 9 100 100
Profit and Loss Account 572,465 358,093
SHAREHOLDERS' FUNDS 572,565 358,193
Page 1
Page 2
For the year ending 29 February 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 John Card
Director
Mr Jon Card
Director
27/02/2025
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
John Card Accident Repair Centre Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 08404291 . The registered office is 6 Millar Court, Millbay, Plymouth, Devon, PL1 3LQ.
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. Intangible Fixed Assets and Amortisation - Goodwill
Goodwill is the difference between amounts paid on the acquisition of a business and the fair value of the separable net assets. It is amortised to profit and loss account over its estimated economic life of 10 years.
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 18%
Motor Vehicles 18%
2.5. 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.
2.6. 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.
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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 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.
2.8. 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.
2.9. Government Grant
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.
3. Average Number of Employees
Average number of employees, including directors, during the year was:
2024 2023
Office and administration 2 2
Sales, marketing and distribution 13 13
15 15
4. Tangible Assets
Plant & Machinery Motor Vehicles Total
£ £ £
Cost
As at 1 March 2023 74,372 8,000 82,372
Additions 3,665 - 3,665
As at 29 February 2024 78,037 8,000 86,037
...CONTINUED
Page 4
Page 5
Depreciation
As at 1 March 2023 47,927 3,951 51,878
Provided during the period 5,420 728 6,148
As at 29 February 2024 53,347 4,679 58,026
Net Book Value
As at 29 February 2024 24,690 3,321 28,011
As at 1 March 2023 26,445 4,049 30,494
5. Stocks
2024 2023
£ £
Materials 57,500 55,732
Work in progress 125,000 215,000
182,500 270,732
6. Debtors
2024 2023
£ £
Due within one year
Trade debtors 484,142 325,311
Other debtors 325 -
484,467 325,311
7. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 126,557 141,245
Corporation tax 93,827 41,480
VAT 64,468 -
Other creditors 181,120 146,163
465,972 328,888
8. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Bank loans 22,500 32,500
Directors loan account 48,088 113,588
70,588 146,088
9. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 100 100
10. Directors Advances, Credits and Guarantees
Dividends paid to directors
Page 5
Page 6
2024 2023
£ £
Mr John Card 37,250 38,000
Mr Jon Card 37,250 38,000
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