Acorah Software Products - Accounts Production 16.1.300 false true 31 August 2023 1 September 2022 false 1 September 2023 31 August 2024 31 August 2024 4266112 Mr Andrew Speight Mr Darren Wraith Andrew Speight false iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 4266112 2023-08-31 4266112 2024-08-31 4266112 2023-09-01 2024-08-31 4266112 frs-core:CurrentFinancialInstruments 2024-08-31 4266112 frs-core:ComputerEquipment 2024-08-31 4266112 frs-core:ComputerEquipment 2023-09-01 2024-08-31 4266112 frs-core:ComputerEquipment 2023-08-31 4266112 frs-core:FurnitureFittings 2024-08-31 4266112 frs-core:FurnitureFittings 2023-09-01 2024-08-31 4266112 frs-core:FurnitureFittings 2023-08-31 4266112 frs-core:PlantMachinery 2024-08-31 4266112 frs-core:PlantMachinery 2023-09-01 2024-08-31 4266112 frs-core:PlantMachinery 2023-08-31 4266112 frs-core:ShareCapital 2024-08-31 4266112 frs-core:RetainedEarningsAccumulatedLosses 2024-08-31 4266112 frs-bus:PrivateLimitedCompanyLtd 2023-09-01 2024-08-31 4266112 frs-bus:FilletedAccounts 2023-09-01 2024-08-31 4266112 frs-bus:SmallEntities 2023-09-01 2024-08-31 4266112 frs-bus:AuditExempt-NoAccountantsReport 2023-09-01 2024-08-31 4266112 frs-bus:SmallCompaniesRegimeForAccounts 2023-09-01 2024-08-31 4266112 1 2023-09-01 2024-08-31 4266112 frs-bus:Director1 2023-09-01 2024-08-31 4266112 frs-bus:Director2 2023-09-01 2024-08-31 4266112 frs-core:CurrentFinancialInstruments 1 2024-08-31 4266112 frs-core:CurrentFinancialInstruments 2 2024-08-31 4266112 frs-core:CurrentFinancialInstruments 3 2024-08-31 4266112 frs-countries:EnglandWales 2023-09-01 2024-08-31 4266112 2022-08-31 4266112 2023-08-31 4266112 2022-09-01 2023-08-31 4266112 frs-core:CurrentFinancialInstruments 2023-08-31 4266112 frs-core:ShareCapital 2023-08-31 4266112 frs-core:RetainedEarningsAccumulatedLosses 2023-08-31 4266112 frs-core:CurrentFinancialInstruments 1 2023-08-31 4266112 frs-core:CurrentFinancialInstruments 2 2023-08-31 4266112 frs-core:CurrentFinancialInstruments 3 2023-08-31
Registered number: 4266112
Adept Concrete Cutting Limited
Financial Statements
For The Year Ended 31 August 2024
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—6
Page 1
Balance Sheet
Registered number: 4266112
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 144,430 173,702
144,430 173,702
CURRENT ASSETS
Stocks 4,962 5,233
Debtors 5 206,816 219,760
Cash at bank and in hand 174,558 188,849
386,336 413,842
Creditors: Amounts Falling Due Within One Year 6 (86,399 ) (93,038 )
NET CURRENT ASSETS (LIABILITIES) 299,937 320,804
TOTAL ASSETS LESS CURRENT LIABILITIES 444,367 494,506
PROVISIONS FOR LIABILITIES
Deferred Taxation 7 (36,108 ) (43,426 )
NET ASSETS 408,259 451,080
CAPITAL AND RESERVES
Called up share capital 8 1,000 1,000
Profit and Loss Account 407,259 450,080
SHAREHOLDERS' FUNDS 408,259 451,080
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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.
On behalf of the board
Mr Andrew Speight
Director
5 March 2025
The notes on pages 3 to 6 form part of these financial statements.
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Notes to the Financial Statements
1. General Information
Adept Concrete Cutting Limited Registered number 4266112 is a limited by shares company incorporated in England & Wales. The Registered Office is Unit 6, Enterprise Business Park, Milner Way, Ossett, West Yorkshire, WF5 9JH.
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 comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are stated at cost less depreciation. 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
Fixtures & Fittings 15% reducing balance
Computer Equipment 15% reducing balance
2.4. 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.
2.5. 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.
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2.6. 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.
3. Average Number of Employees
Average number of employees, including directors, during the year was:
2024 2023
Office and administration 5 5
Manufacturing 8 8
13 13
4. Tangible Assets
Plant & Machinery Fixtures & Fittings Computer Equipment Total
£ £ £ £
Cost
As at 1 September 2023 841,318 5,282 1,404 848,004
Additions 30,161 - - 30,161
Disposals (71,310 ) - (100 ) (71,410 )
As at 31 August 2024 800,169 5,282 1,304 806,755
Depreciation
As at 1 September 2023 670,322 3,107 873 674,302
Provided during the period 47,741 - 77 47,818
Disposals (59,714 ) - (81 ) (59,795 )
As at 31 August 2024 658,349 3,107 869 662,325
Net Book Value
As at 31 August 2024 141,820 2,175 435 144,430
As at 1 September 2023 170,996 2,175 531 173,702
Included above are assets held under finance leases or hire purchase contracts with a net book value as follows:
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5. Debtors
2024 2023
£ £
Due within one year
Trade debtors 187,695 183,434
Prepayments and accrued income 9,505 10,919
Other debtors 8,666 23,792
Staff loans 950 1,615
206,816 219,760
6. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 3,598 4,224
Corporation tax 29,399 26,358
Other taxes and social security 4,607 6,425
VAT 5,264 7,467
Net wages 420 420
Auto enrolment pension 1,051 1,019
S Speight Loan account 18,462 19,182
M Wraith Loan account 11,848 12,776
Accruals and deferred income 4,193 4,759
Directors' loan accounts 7,557 10,408
86,399 93,038
7. Deferred Taxation
The provision for deferred tax is made up as follows:
2024 2023
£ £
Other timing differences 36,108 43,426
8. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 1,000 1,000
9. Pension Commitments
The company operates a defined contribution pension scheme for employees. The assets of the scheme are held separately from those of the company in an independently administered fund. At the balance sheet date unpaid contributions of £1,051 (PY - 1,019) were due to the fund. They are included in Other Creditors.
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10. Directors Advances, Credits and Guarantees
Dividends paid to directors
2024 2023
£ £
Mr Andrew Speight 37,500 42,000
Mr Darren Wraith 25,000 28,000
11. Controlling Party
The company's controlling party is Andrew Speight by virtue of his ownership of 54% of the issued share capital in the company.
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