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 13429007 Mr O Mays Mr G Peters iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 13429007 2023-05-31 13429007 2024-05-31 13429007 2023-06-01 2024-05-31 13429007 frs-core:CurrentFinancialInstruments 2024-05-31 13429007 frs-core:Non-currentFinancialInstruments 2024-05-31 13429007 frs-core:BetweenOneFiveYears 2024-05-31 13429007 frs-core:ComputerEquipment 2023-06-01 2024-05-31 13429007 frs-core:MotorVehicles 2023-06-01 2024-05-31 13429007 frs-core:PlantMachinery 2024-05-31 13429007 frs-core:PlantMachinery 2023-06-01 2024-05-31 13429007 frs-core:PlantMachinery 2023-05-31 13429007 frs-core:WithinOneYear 2024-05-31 13429007 frs-core:ShareCapital 2024-05-31 13429007 frs-core:RetainedEarningsAccumulatedLosses 2024-05-31 13429007 frs-bus:PrivateLimitedCompanyLtd 2023-06-01 2024-05-31 13429007 frs-bus:FilletedAccounts 2023-06-01 2024-05-31 13429007 frs-bus:SmallEntities 2023-06-01 2024-05-31 13429007 frs-bus:AuditExempt-NoAccountantsReport 2023-06-01 2024-05-31 13429007 frs-bus:SmallCompaniesRegimeForAccounts 2023-06-01 2024-05-31 13429007 frs-bus:Director1 2023-06-01 2024-05-31 13429007 frs-bus:Director2 2023-06-01 2024-05-31 13429007 frs-countries:EnglandWales 2023-06-01 2024-05-31 13429007 2022-05-31 13429007 2023-05-31 13429007 2022-06-01 2023-05-31 13429007 frs-core:CurrentFinancialInstruments 2023-05-31 13429007 frs-core:Non-currentFinancialInstruments 2023-05-31 13429007 frs-core:BetweenOneFiveYears 2023-05-31 13429007 frs-core:WithinOneYear 2023-05-31 13429007 frs-core:ShareCapital 2023-05-31 13429007 frs-core:RetainedEarningsAccumulatedLosses 2023-05-31
Registered number: 13429007
Mays Technical Ltd
Unaudited Financial Statements
For The Year Ended 31 May 2024
Contents
Page
Company Information 1
Balance Sheet 2—3
Notes to the Financial Statements 4—7
Page 1
Company Information
Directors Mr O Mays
Mr G Peters
Company Number 13429007
Registered Office Halpern House 1-2 Hampshire Terrace
Portsmouth
PO1 2QF
Accountants Smooth Accounting
Building 1000 Lakeside North Harbour Western Road
Portsmouth
PO6 3EN
Page 1
Page 2
Balance Sheet
Registered number: 13429007
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 329,318 336,680
329,318 336,680
CURRENT ASSETS
Debtors 5 76,481 97,922
Cash at bank and in hand 38,457 58,822
114,938 156,744
Creditors: Amounts Falling Due Within One Year 6 (193,421 ) (183,656 )
NET CURRENT ASSETS (LIABILITIES) (78,483 ) (26,912 )
TOTAL ASSETS LESS CURRENT LIABILITIES 250,835 309,768
Creditors: Amounts Falling Due After More Than One Year 7 (159,682 ) (208,550 )
PROVISIONS FOR LIABILITIES
Deferred Taxation (57,126 ) (57,430 )
NET ASSETS 34,027 43,788
CAPITAL AND RESERVES
Called up share capital 9 2 2
Profit and Loss Account 34,025 43,786
SHAREHOLDERS' FUNDS 34,027 43,788
Page 2
Page 3
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
Mr G Peters
Director
27/02/2025
The notes on pages 4 to 7 form part of these financial statements.
Page 3
Page 4
Notes to the Financial Statements
1. General Information
Mays Technical Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 13429007 . The registered office is Halpern House 1-2 Hampshire Terrace, Portsmouth, PO1 2QF.
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. 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 Year Reducing Balance
Motor Vehicles 5 Year Reducing Balance
Computer Equipment 3 Years Straight Line
2.4. Leasing and Hire Purchase Contracts
Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.
2.5. Financial Instruments
Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.
Page 4
Page 5
2.6. Taxation
The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.
The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

2.7. 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.
2.8.
Borrowings
Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the Profit and Loss Account over the period of the relevant borrowing.
Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.
Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 2 (2023: 2)
2 2
4. Tangible Assets
Plant & Machinery etc.
£
Cost
As at 1 June 2023 414,533
Additions 39,252
As at 31 May 2024 453,785
Depreciation
As at 1 June 2023 77,853
Provided during the period 46,614
As at 31 May 2024 124,467
...CONTINUED
Page 5
Page 6
Net Book Value
As at 31 May 2024 329,318
As at 1 June 2023 336,680
5. Debtors
2024 2023
£ £
Due within one year
Trade debtors 11,402 30,957
Amounts owed by participating interests 2,144 -
Other debtors 62,935 66,965
76,481 97,922
6. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Net obligations under finance lease and hire purchase contracts 79,756 71,683
Trade creditors 44,292 68,138
Amounts owed to participating interests 4,373 -
Other creditors 41,387 36,091
Taxation and social security 23,613 7,744
193,421 183,656
7. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Net obligations under finance lease and hire purchase contracts 159,682 208,550
8. Obligations Under Finance Leases and Hire Purchase
2024 2023
£ £
The future minimum finance lease payments are as follows:
Not later than one year 79,756 71,683
Later than one year and not later than five years 159,682 208,550
239,438 280,233
239,438 280,233
9. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 2 2
Page 6
Page 7
10. Other Commitments
The total of future minimum lease payments under non-cancellable operating leases are as following:
2024 2023
£ £
Not later than one year 6,570 6,570
Later than one year and not later than five years 29,477 36,047
36,047 42,617
Page 7