Acorah Software Products - Accounts Production 16.0.110 false true 31 August 2023 1 September 2022 false 1 September 2023 31 August 2024 31 August 2024 02533680 Mr Gerald Flynn Mr Ian Ward Mr Bradley Plampton iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 02533680 2023-08-31 02533680 2024-08-31 02533680 2023-09-01 2024-08-31 02533680 frs-core:CurrentFinancialInstruments 2024-08-31 02533680 frs-core:Non-currentFinancialInstruments 2024-08-31 02533680 frs-core:BetweenOneFiveYears 2024-08-31 02533680 frs-core:ComputerEquipment 2024-08-31 02533680 frs-core:ComputerEquipment 2023-09-01 2024-08-31 02533680 frs-core:ComputerEquipment 2023-08-31 02533680 frs-core:FurnitureFittings 2024-08-31 02533680 frs-core:FurnitureFittings 2023-09-01 2024-08-31 02533680 frs-core:FurnitureFittings 2023-08-31 02533680 frs-core:MotorVehicles 2024-08-31 02533680 frs-core:MotorVehicles 2023-09-01 2024-08-31 02533680 frs-core:MotorVehicles 2023-08-31 02533680 frs-core:WithinOneYear 2024-08-31 02533680 frs-core:SharePremium 2024-08-31 02533680 frs-core:ShareCapital 2024-08-31 02533680 frs-core:RetainedEarningsAccumulatedLosses 2024-08-31 02533680 frs-bus:PrivateLimitedCompanyLtd 2023-09-01 2024-08-31 02533680 frs-bus:FilletedAccounts 2023-09-01 2024-08-31 02533680 frs-bus:SmallEntities 2023-09-01 2024-08-31 02533680 frs-bus:AuditExempt-NoAccountantsReport 2023-09-01 2024-08-31 02533680 frs-bus:SmallCompaniesRegimeForAccounts 2023-09-01 2024-08-31 02533680 frs-bus:Director1 2023-09-01 2024-08-31 02533680 frs-bus:Director2 2023-09-01 2024-08-31 02533680 frs-bus:Director3 2023-09-01 2024-08-31 02533680 frs-countries:EnglandWales 2023-09-01 2024-08-31 02533680 2022-08-31 02533680 2023-08-31 02533680 2022-09-01 2023-08-31 02533680 frs-core:CurrentFinancialInstruments 2023-08-31 02533680 frs-core:Non-currentFinancialInstruments 2023-08-31 02533680 frs-core:BetweenOneFiveYears 2023-08-31 02533680 frs-core:WithinOneYear 2023-08-31 02533680 frs-core:SharePremium 2023-08-31 02533680 frs-core:ShareCapital 2023-08-31 02533680 frs-core:RetainedEarningsAccumulatedLosses 2023-08-31
Registered number: 02533680
T S Electronics Limited
Unaudited 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: 02533680
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 298,002 208,027
298,002 208,027
CURRENT ASSETS
Stocks 5 320,637 232,714
Debtors 6 673,948 619,423
Cash at bank and in hand 129,034 243,761
1,123,619 1,095,898
Creditors: Amounts Falling Due Within One Year 7 (814,449 ) (680,028 )
NET CURRENT ASSETS (LIABILITIES) 309,170 415,870
TOTAL ASSETS LESS CURRENT LIABILITIES 607,172 623,897
Creditors: Amounts Falling Due After More Than One Year 8 (22,922 ) (66,947 )
NET ASSETS 584,250 556,950
CAPITAL AND RESERVES
Called up share capital 10 606 846
Share premium account (717,727 ) (493,647 )
Profit and Loss Account 1,301,371 1,049,751
SHAREHOLDERS' FUNDS 584,250 556,950
Page 1
Page 2
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.
The financial statements were approved by the board of directors on 25 February 2025 and were signed on its behalf by:
Mr Bradley Plampton
Director
25th February 2025
The notes on pages 3 to 6 form part of these financial statements.
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Page 3
Notes to the Financial Statements
1. General Information
T S Electronics Limited is a private company, limited by shares, incorporated in England & Wales, registered number 02533680 . The registered office is Unit 3 Printers Way, Harlow, Essex, CM20 2SD.
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:
Motor Vehicles 25% reducing balance
Fixtures & Fittings 20% reducing balance
Computer Equipment 20% reducing balanace
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. 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.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 24 (2023: 23)
24 23
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4. Tangible Assets
Motor Vehicles Fixtures & Fittings Computer Equipment Total
£ £ £ £
Cost
As at 1 September 2023 273,557 73,193 44,956 391,706
Additions 8,995 157,720 - 166,715
Disposals (31,349 ) (51,343 ) - (82,692 )
As at 31 August 2024 251,203 179,570 44,956 475,729
Depreciation
As at 1 September 2023 104,028 50,237 29,414 183,679
Provided during the period 42,323 17,913 3,108 63,344
Disposals (19,695 ) (49,601 ) - (69,296 )
As at 31 August 2024 126,656 18,549 32,522 177,727
Net Book Value
As at 31 August 2024 124,547 161,021 12,434 298,002
As at 1 September 2023 169,529 22,956 15,542 208,027
5. Stocks
2024 2023
£ £
Finished goods 222,137 232,714
Work in progress 98,500 -
320,637 232,714
6. Debtors
2024 2023
£ £
Due within one year
Trade debtors 594,734 550,749
Prepayments and accrued income 59,918 57,160
Other debtors 19,296 11,514
673,948 619,423
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7. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Net obligations under finance lease and hire purchase contracts 37,203 44,179
Trade creditors 191,733 176,603
Corporation tax 53,498 82,869
Other taxes and social security 21,562 24,745
VAT 82,527 98,056
Other creditors 6,399 8,974
Accruals and deferred income 379,079 207,272
Directors' loan accounts 40,939 34,921
Amounts owed to related parties 1,509 2,409
814,449 680,028
8. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Net obligations under finance lease and hire purchase contracts 22,922 66,947
9. Obligations Under Finance Leases and Hire Purchase
2024 2023
£ £
The future minimum finance lease payments are as follows:
Not later than one year 37,203 44,179
Later than one year and not later than five years 22,922 66,947
60,125 111,126
60,125 111,126
10. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 606 846
11. Dividends
2024 2023
£ £
On equity shares:
Final dividend paid 6,000 12,000
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