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 07498403 A J Mardell J E Drew iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 07498403 2023-09-30 07498403 2024-09-30 07498403 2023-10-01 2024-09-30 07498403 frs-core:CurrentFinancialInstruments 2024-09-30 07498403 frs-core:Non-currentFinancialInstruments 2024-09-30 07498403 frs-core:BetweenOneFiveYears 2024-09-30 07498403 frs-core:ComputerEquipment 2024-09-30 07498403 frs-core:ComputerEquipment 2023-10-01 2024-09-30 07498403 frs-core:ComputerEquipment 2023-09-30 07498403 frs-core:FurnitureFittings 2024-09-30 07498403 frs-core:FurnitureFittings 2023-10-01 2024-09-30 07498403 frs-core:FurnitureFittings 2023-09-30 07498403 frs-core:MotorVehicles 2024-09-30 07498403 frs-core:MotorVehicles 2023-10-01 2024-09-30 07498403 frs-core:MotorVehicles 2023-09-30 07498403 frs-core:PlantMachinery 2024-09-30 07498403 frs-core:PlantMachinery 2023-10-01 2024-09-30 07498403 frs-core:PlantMachinery 2023-09-30 07498403 frs-core:WithinOneYear 2024-09-30 07498403 frs-core:ShareCapital 2024-09-30 07498403 frs-core:RetainedEarningsAccumulatedLosses 2024-09-30 07498403 frs-bus:PrivateLimitedCompanyLtd 2023-10-01 2024-09-30 07498403 frs-bus:FilletedAccounts 2023-10-01 2024-09-30 07498403 frs-bus:SmallEntities 2023-10-01 2024-09-30 07498403 frs-bus:AuditExempt-NoAccountantsReport 2023-10-01 2024-09-30 07498403 frs-bus:SmallCompaniesRegimeForAccounts 2023-10-01 2024-09-30 07498403 frs-bus:Director1 2023-10-01 2024-09-30 07498403 frs-bus:Director1 2023-09-30 07498403 frs-bus:Director1 2024-09-30 07498403 frs-bus:Director2 2023-10-01 2024-09-30 07498403 frs-countries:EnglandWales 2023-10-01 2024-09-30 07498403 2022-09-30 07498403 2023-09-30 07498403 2022-10-01 2023-09-30 07498403 frs-core:CurrentFinancialInstruments 2023-09-30 07498403 frs-core:Non-currentFinancialInstruments 2023-09-30 07498403 frs-core:BetweenOneFiveYears 2023-09-30 07498403 frs-core:WithinOneYear 2023-09-30 07498403 frs-core:ShareCapital 2023-09-30 07498403 frs-core:RetainedEarningsAccumulatedLosses 2023-09-30
Registered number: 07498403
a m 1 Projects Ltd
Unaudited Financial Statements
For The Year Ended 30 September 2024
Veritons
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—6
Page 1
Balance Sheet
Registered number: 07498403
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 223,090 158,204
223,090 158,204
CURRENT ASSETS
Stocks 5 180,943 125,738
Debtors 6 1,957,076 1,928,297
Cash at bank and in hand 213,800 381,671
2,351,819 2,435,706
Creditors: Amounts Falling Due Within One Year 7 (1,403,640 ) (1,315,415 )
NET CURRENT ASSETS (LIABILITIES) 948,179 1,120,291
TOTAL ASSETS LESS CURRENT LIABILITIES 1,171,269 1,278,495
Creditors: Amounts Falling Due After More Than One Year 8 (260,570 ) (259,858 )
PROVISIONS FOR LIABILITIES
Deferred Taxation - (37,659 )
NET ASSETS 910,699 980,978
CAPITAL AND RESERVES
Called up share capital 10 100 100
Profit and Loss Account 910,599 980,878
SHAREHOLDERS' FUNDS 910,699 980,978
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 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
A J Mardell
Director
26/02/2025
The notes on pages 3 to 6 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
a m 1 Projects Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 07498403 . The registered office is 111 Hopewell Drive, Chatham, Kent, ME5 7NP.
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 FRS 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 rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
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 25% reducing balance
Motor Vehicles 25% reducing balance
Fixtures & Fittings 25% reducing balance
Computer Equipment 33% straight line
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. Financial Instruments
The company has elected to apply the provisions of Section 11 'Basic Financial Instruments' and Section 12 'Other Financial Instrument Issues' of FRS102 to all of its financial instruments.  
Financial instruments are recognised in the company's balance sheet 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 debtors and cash and bank balances,  are initially mesured at the 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.  Financial assets are classified as receivable within one year and are not amortised. 
Classification of financial liabilities 
...CONTINUED
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Page 4
2.6. Financial Instruments - continued
Financial liabilities and equity instruments are classfied according to the substance of the contractual arrangements entered into.  An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.  
Basic financial liablities 
Basic financial liablities,  including creditors,  bank loans,  loans from fellow group companies and preference shares that are classified as debt,  are initially recognised at transaction price unless the arrangement constitutes a financing transaction,  where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest.  Financial liabilities classified as payable within one year are not amortised. 
Debt instruments are subsequently carried at amortised cost,  using the effective rate method. 
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers.  Amounts payable are classified as current liabilities if payment is due within one year or less.  If not,  they are presented as non-current liabilities.  Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.  
2.7. Taxation
The tax expense represents the sum of the tax currently payable and deferred tax.
Current 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 
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.  Such assets and liabilities are not recognised if the timing difference arsies from goodwill or from the initial recognition of other assets and liabilities in a transaction tht affects neither the tax profit nor the accounting profit.  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.
3. Average Number of Employees
Average number of employees, including directors, during the year was as follows: 40 (2023: 32)
40 32
4. Tangible Assets
Plant & Machinery Motor Vehicles Fixtures & Fittings Computer Equipment Total
£ £ £ £ £
Cost
As at 1 October 2023 120,683 216,555 88,546 78,058 503,842
Additions 2,034 113,670 - 358 116,062
As at 30 September 2024 122,717 330,225 88,546 78,416 619,904
...CONTINUED
Page 4
Page 5
Depreciation
As at 1 October 2023 104,075 92,952 76,743 71,868 345,638
Provided during the period 4,640 40,373 2,951 3,212 51,176
As at 30 September 2024 108,715 133,325 79,694 75,080 396,814
Net Book Value
As at 30 September 2024 14,002 196,900 8,852 3,336 223,090
As at 1 October 2023 16,608 123,603 11,803 6,190 158,204
5. Stocks
2024 2023
£ £
Stock 180,943 125,738
6. Debtors
2024 2023
£ £
Due within one year
Trade debtors 504,060 408,743
Prepayments and accrued income 564,102 819,756
Other debtors - 2,238
Corporation tax recoverable assets 130,125 130,125
Directors' loan accounts 758,789 567,435
1,957,076 1,928,297
7. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Net obligations under finance lease and hire purchase contracts 52,208 28,763
Trade creditors 658,823 756,853
Other loans 35,333 35,333
Corporation tax 149,216 292,160
Other taxes and social security 42,314 72,162
VAT 76,513 99,008
Other creditors 35,733 31,136
Deferred income 70,000 -
Amounts owed to parent undertaking 283,500 -
1,403,640 1,315,415
8. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Net obligations under finance lease and hire purchase contracts 154,570 118,525
Other loans 106,000 141,333
260,570 259,858
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9. Obligations Under Finance Leases and Hire Purchase
2024 2023
£ £
The future minimum finance lease payments are as follows:
Not later than one year 52,208 28,763
Later than one year and not later than five years 154,570 118,525
206,778 147,288
206,778 147,288
10. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 100 100
11. Other Commitments
The total of future minimum lease payments under non-cancellable operating leases are as following:
2024 2023
£ £
Not later than one year 132,085 112,780
Later than one year and not later than five years 130,000 222,085
262,085 334,865
12. Directors Advances, Credits and Guarantees
Included within Debtors are the following loans to directors:
As at 1 October 2023 Amounts advanced Amounts repaid Amounts written off As at 30 September 2024
£ £ £ £ £
Mr Andrew Mardell 567,435 549,740 358,386 - 758,789
The above loan is unsecured and repayable on demand.  Interest is charged at 2.25%.  A total of £147,273 was repaid within nine months of the balance sheet date. 
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