Acorah Software Products - Accounts Production 16.1.300 false true 31 October 2023 1 November 2022 false 1 November 2023 31 October 2024 31 October 2024 05238532 Mr C Tancock Mr R Tancock Mr N Tancock Mr D Allen iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 05238532 2023-10-31 05238532 2024-10-31 05238532 2023-11-01 2024-10-31 05238532 frs-core:CurrentFinancialInstruments 2024-10-31 05238532 frs-core:Non-currentFinancialInstruments 2024-10-31 05238532 frs-core:BetweenOneFiveYears 2024-10-31 05238532 frs-core:FurnitureFittings 2024-10-31 05238532 frs-core:FurnitureFittings 2023-11-01 2024-10-31 05238532 frs-core:FurnitureFittings 2023-10-31 05238532 frs-core:LandBuildings frs-core:LeasedAssetsHeldAsLessee 2024-10-31 05238532 frs-core:LandBuildings frs-core:LeasedAssetsHeldAsLessee 2023-11-01 2024-10-31 05238532 frs-core:LandBuildings frs-core:LeasedAssetsHeldAsLessee 2023-10-31 05238532 frs-core:LandBuildings frs-core:OwnedOrFreeholdAssets 2024-10-31 05238532 frs-core:LandBuildings frs-core:OwnedOrFreeholdAssets 2023-11-01 2024-10-31 05238532 frs-core:LandBuildings frs-core:OwnedOrFreeholdAssets 2023-10-31 05238532 frs-core:MotorVehicles 2024-10-31 05238532 frs-core:MotorVehicles 2023-11-01 2024-10-31 05238532 frs-core:MotorVehicles 2023-10-31 05238532 frs-core:PlantMachinery 2024-10-31 05238532 frs-core:PlantMachinery 2023-11-01 2024-10-31 05238532 frs-core:PlantMachinery 2023-10-31 05238532 frs-core:WithinOneYear 2024-10-31 05238532 frs-core:ShareCapital 2024-10-31 05238532 frs-core:RetainedEarningsAccumulatedLosses 2024-10-31 05238532 frs-bus:PrivateLimitedCompanyLtd 2023-11-01 2024-10-31 05238532 frs-bus:FilletedAccounts 2023-11-01 2024-10-31 05238532 frs-bus:SmallEntities 2023-11-01 2024-10-31 05238532 frs-bus:AuditExempt-NoAccountantsReport 2023-11-01 2024-10-31 05238532 frs-bus:SmallCompaniesRegimeForAccounts 2023-11-01 2024-10-31 05238532 frs-bus:OrdinaryShareClass1 2023-11-01 2024-10-31 05238532 frs-bus:OrdinaryShareClass1 2024-10-31 05238532 frs-core:CostValuation 2023-10-31 05238532 frs-core:AdditionsToInvestments 2024-10-31 05238532 frs-core:CostValuation 2024-10-31 05238532 frs-core:ProvisionsForImpairmentInvestments 2023-10-31 05238532 frs-core:ProvisionsForImpairmentInvestments 2024-10-31 05238532 frs-bus:Director1 2023-11-01 2024-10-31 05238532 frs-bus:Director2 2023-11-01 2024-10-31 05238532 frs-bus:Director3 2023-11-01 2024-10-31 05238532 frs-bus:Director4 2023-11-01 2024-10-31 05238532 frs-core:CurrentFinancialInstruments 1 2024-10-31 05238532 frs-countries:EnglandWales 2023-11-01 2024-10-31 05238532 2022-10-31 05238532 2023-10-31 05238532 2022-11-01 2023-10-31 05238532 frs-core:CurrentFinancialInstruments 2023-10-31 05238532 frs-core:Non-currentFinancialInstruments 2023-10-31 05238532 frs-core:BetweenOneFiveYears 2023-10-31 05238532 frs-core:WithinOneYear 2023-10-31 05238532 frs-core:ShareCapital 2023-10-31 05238532 frs-core:RetainedEarningsAccumulatedLosses 2023-10-31 05238532 frs-bus:OrdinaryShareClass1 2022-11-01 2023-10-31 05238532 frs-core:CurrentFinancialInstruments 1 2023-10-31
Registered number: 05238532
Pall-ex South West Limited
Unaudited Financial Statements
For The Year Ended 31 October 2024
Cooper Associates Accountants Ltd
Unaudited Financial Statements
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—7
Page 1
Balance Sheet
Registered number: 05238532
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 2,033,234 1,815,246
Investments 5 275,000 250,000
2,308,234 2,065,246
CURRENT ASSETS
Stocks 6 4,220 14,815
Debtors 7 1,367,822 1,267,301
Cash at bank and in hand 376,149 501,150
1,748,191 1,783,266
Creditors: Amounts Falling Due Within One Year 8 (1,275,354 ) (1,062,523 )
NET CURRENT ASSETS (LIABILITIES) 472,837 720,743
TOTAL ASSETS LESS CURRENT LIABILITIES 2,781,071 2,785,989
Creditors: Amounts Falling Due After More Than One Year 9 (177,953 ) (385,178 )
PROVISIONS FOR LIABILITIES
Deferred Taxation (353,557 ) (294,637 )
NET ASSETS 2,249,561 2,106,174
CAPITAL AND RESERVES
Called up share capital 10 10 10
Profit and Loss Account 2,249,551 2,106,164
SHAREHOLDERS' FUNDS 2,249,561 2,106,174
Page 1
Page 2
For the year ending 31 October 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 C Tancock
Director
21st February 2025
The notes on pages 3 to 7 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Pall-ex South West Limited is a private company, limited by shares, incorporated in England & Wales, registered number 05238532 . The registered office is Unit 8 Willand Industrial Estate South View Estate, Willand, Cullompton, Devon, EX15 2QW.
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:
Freehold 10 - 20% Straight Line
Leasehold 5% Straight Line
Plant & Machinery 5% - 100% Straight Line
Motor Vehicles 12.5% - 50% Straight Line
Fixtures & Fittings 25% - 50% Straight Line
2.4. 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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2.5. 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 holds the following financial instruments:
  • Short term trade and other debtors and creditors;
  • Bank loans; and
  • Cash and bank balances.
All financial instruments are classified as basic.
Recognition and measurement
The company has chosen to apply the recognition and measurement principles in FRS102.
Financial instruments are recognised when the company becomes party to the contractual provisions of the instrument and derecgonised when in the case of assets, the contractual rights to cash flows from the assets expire or substantially all the risks and rewards of ownership are transferred to another party, or in the case of liabilities, when the company's obligations are discharged, expire or are cancelled.
Except for bank loans, such instruments are initially measured at transaction price, including transaction costs and are subsequently carried at the undiscounted amount of the cash or other consideration expected to be paid or received, after taking account of impairment adjustments.
Bank loans are initially measured at transaction price, including transaction costs and are subsequently carried at amortised cost using the effective interest method.
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 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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Page 5
3. Average Number of Employees
Average number of employees, including directors, during the year was: 50 (2023: 53)
50 53
4. Tangible Assets
Land & Property
Freehold Leasehold Plant & Machinery Motor Vehicles
£ £ £ £
Cost
As at 1 November 2023 619,671 - 136,204 1,945,488
Additions 84,961 5,097 19,741 657,815
Disposals - - - (130,592 )
As at 31 October 2024 704,632 5,097 155,945 2,472,711
Depreciation
As at 1 November 2023 55,121 - 100,161 736,666
Provided during the period 19,104 765 9,493 487,299
Disposals - - - (95,508 )
As at 31 October 2024 74,225 765 109,654 1,128,457
Net Book Value
As at 31 October 2024 630,407 4,332 46,291 1,344,254
As at 1 November 2023 564,550 - 36,043 1,208,822
Fixtures & Fittings Total
£ £
Cost
As at 1 November 2023 28,540 2,729,903
Additions 6,323 773,937
Disposals (2,145 ) (132,737 )
As at 31 October 2024 32,718 3,371,103
Depreciation
As at 1 November 2023 22,709 914,657
Provided during the period 4,204 520,865
Disposals (2,145 ) (97,653 )
As at 31 October 2024 24,768 1,337,869
Net Book Value
As at 31 October 2024 7,950 2,033,234
As at 1 November 2023 5,831 1,815,246
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5. Investments
Other
£
Cost
As at 1 November 2023 250,000
Additions 25,000
As at 31 October 2024 275,000
Provision
As at 1 November 2023 -
As at 31 October 2024 -
Net Book Value
As at 31 October 2024 275,000
As at 1 November 2023 250,000
During the year, the company acquired 13 ordinary shares in Pall-Ex Investments Limited for a consideration of £25,000 bringing the total shares owned in Pall-Ex Investments to 40. The company also owns £125,000 of the zero-coupon loan notes issued by Pall-Ex Investments Limited. 
Pall-Ex Investments Limited is a personal of significant control over Pall-Ex Group Limited which in turn is a person of significant control over Pall-Ex UK Limited who own 20% (2023: 20%) of Pall-Ex Southwest Limited. 
The investment is held at cost. 
6. Stocks
2024 2023
£ £
Stock 4,220 14,815
7. Debtors
2024 2023
£ £
Due within one year
Trade debtors 1,292,080 1,025,511
Prepayments and accrued income 74,995 63,670
Other debtors 747 178,120
1,367,822 1,267,301
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8. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Net obligations under finance lease and hire purchase contracts 172,100 212,476
Trade creditors 659,680 520,550
Bank loans and overdrafts - 21,592
Corporation tax 136,208 79,056
Other taxes and social security 29,799 34,741
VAT 134,070 129,630
Other creditors 22,873 3,376
Accruals 82,682 45,212
Directors' loan accounts 37,942 15,890
1,275,354 1,062,523
9. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Net obligations under finance lease and hire purchase contracts 177,953 310,080
Bank loans - 75,098
177,953 385,178
Assets held under hire purchase agreements are secured against the assets on which the hire purchase agreements relate. 
10. Share Capital
2024 2023
Allotted, called up and fully paid £ £
1,004 Ordinary Shares of £ 0.01 each 10 10
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 55,500 55,500
Later than one year and not later than five years 101,750 157,250
157,250 212,750
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