Acorah Software Products - Accounts Production 16.1.300 false true 31 December 2023 1 January 2023 false 1 January 2024 31 December 2024 31 December 2024 04248174 Mr Matthew Haddock Mrs Victoria Haddock iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 04248174 2023-12-31 04248174 2024-12-31 04248174 2024-01-01 2024-12-31 04248174 frs-core:CurrentFinancialInstruments 2024-12-31 04248174 frs-core:FurnitureFittings 2024-12-31 04248174 frs-core:FurnitureFittings 2024-01-01 2024-12-31 04248174 frs-core:FurnitureFittings 2023-12-31 04248174 frs-core:LandBuildings frs-core:OwnedOrFreeholdAssets 2024-12-31 04248174 frs-core:LandBuildings frs-core:OwnedOrFreeholdAssets 2024-01-01 2024-12-31 04248174 frs-core:LandBuildings frs-core:OwnedOrFreeholdAssets 2023-12-31 04248174 frs-core:MotorVehicles 2024-12-31 04248174 frs-core:MotorVehicles 2024-01-01 2024-12-31 04248174 frs-core:MotorVehicles 2023-12-31 04248174 frs-core:PlantMachinery 2024-12-31 04248174 frs-core:PlantMachinery 2024-01-01 2024-12-31 04248174 frs-core:PlantMachinery 2023-12-31 04248174 frs-core:ShareCapital 2024-12-31 04248174 frs-core:RetainedEarningsAccumulatedLosses 2024-12-31 04248174 frs-bus:PrivateLimitedCompanyLtd 2024-01-01 2024-12-31 04248174 frs-bus:FilletedAccounts 2024-01-01 2024-12-31 04248174 frs-bus:SmallEntities 2024-01-01 2024-12-31 04248174 frs-bus:AuditExempt-NoAccountantsReport 2024-01-01 2024-12-31 04248174 frs-bus:SmallCompaniesRegimeForAccounts 2024-01-01 2024-12-31 04248174 frs-bus:Director1 2024-01-01 2024-12-31 04248174 frs-bus:CompanySecretary1 2024-01-01 2024-12-31 04248174 frs-countries:EnglandWales 2024-01-01 2024-12-31 04248174 2022-12-31 04248174 2023-12-31 04248174 2023-01-01 2023-12-31 04248174 frs-core:CurrentFinancialInstruments 2023-12-31 04248174 frs-core:ShareCapital 2023-12-31 04248174 frs-core:RetainedEarningsAccumulatedLosses 2023-12-31
National Floor Preparation Centres Limited
Financial Statements
For The Year Ended 31 December 2024
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 04248174
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 132,892 115,972
132,892 115,972
CURRENT ASSETS
Stocks 5 55,285 53,234
Debtors 6 105,025 83,165
Cash at bank and in hand 219,286 207,960
379,596 344,359
Creditors: Amounts Falling Due Within One Year 7 (131,251 ) (112,313 )
NET CURRENT ASSETS (LIABILITIES) 248,345 232,046
TOTAL ASSETS LESS CURRENT LIABILITIES 381,237 348,018
PROVISIONS FOR LIABILITIES
Deferred Taxation (6,129 ) -
NET ASSETS 375,108 348,018
CAPITAL AND RESERVES
Called up share capital 8 100 100
Profit and Loss Account 375,008 347,918
SHAREHOLDERS' FUNDS 375,108 348,018
Page 1
Page 2
For the year ending 31 December 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his 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 Matthew Haddock
Director
25 February 2025
The notes on pages 3 to 5 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
National Floor Preparation Centres Limited is a private company, limited by shares, incorporated in England & Wales, registered number 04248174 . The registered office is Unit 4a Chase View, Walkers Rise Hednesford, Cannock, Staffordshire, WS12 0QU.
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 4% On Cost
Plant & Machinery 15% On Reducing Balance
Motor Vehicles 25% On Cost
Fixtures & Fittings 33% On Cost and 15% On 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.
...CONTINUED
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2.5. Taxation - continued
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.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 6 (2023: 6)
6 6
4. Tangible Assets
Land & Property
Freehold Plant & Machinery Motor Vehicles Fixtures & Fittings Total
£ £ £ £ £
Cost
As at 1 January 2024 2,668 548,125 80,605 54,897 686,295
Additions - 58,451 20,190 - 78,641
As at 31 December 2024 2,668 606,576 100,795 54,897 764,936
Depreciation
As at 1 January 2024 579 467,249 62,216 40,279 570,323
Provided during the period - 45,728 14,001 1,992 61,721
As at 31 December 2024 579 512,977 76,217 42,271 632,044
Net Book Value
As at 31 December 2024 2,089 93,599 24,578 12,626 132,892
As at 1 January 2024 2,089 80,876 18,389 14,618 115,972
5. Stocks
2024 2023
£ £
Stock 55,285 53,234
6. Debtors
2024 2023
£ £
Due within one year
Trade debtors 101,456 79,825
Prepayments and accrued income 3,569 3,340
105,025 83,165
Page 4
Page 5
7. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 90,028 29,240
Bank loans and overdrafts - 131
Corporation tax 25,237 31,182
Other taxes and social security 2,166 2,336
VAT 6,563 16,518
Accruals and deferred income 1,150 1,150
Director's loan account 6,107 31,756
131,251 112,313
8. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 100 100
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