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Registered number: 10696183
Airwaves Facilities Management Limited
Unaudited Financial Statements
For the Period 1 April 2023 to 30 September 2024
Unico 3 Limited
Genesis House
212 Ingram Road
Walsall
West Midlands
WS3 3AD
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 10696183
30 September 2024 31 March 2023
Notes £ £ £ £
FIXED ASSETS
Intangible Assets 4 24,800 31,000
Tangible Assets 5 403,364 390,193
428,164 421,193
CURRENT ASSETS
Debtors 6 493,134 328,603
Cash at bank and in hand 170,065 177,714
663,199 506,317
Creditors: Amounts Falling Due Within One Year 7 (454,828 ) (236,247 )
NET CURRENT ASSETS (LIABILITIES) 208,371 270,070
TOTAL ASSETS LESS CURRENT LIABILITIES 636,535 691,263
Creditors: Amounts Falling Due After More Than One Year 8 (258,310 ) (294,596 )
PROVISIONS FOR LIABILITIES
Deferred Taxation 9 (76,560 ) (74,136 )
NET ASSETS 301,665 322,531
CAPITAL AND RESERVES
Called up share capital 10 100 100
Profit and Loss Account 301,565 322,431
SHAREHOLDERS' FUNDS 301,665 322,531
Page 1
Page 2
For the period 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 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 Daniel Stewart POVEY
Director
18/03/2025
The notes on pages 3 to 5 form part of these financial statements.
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Notes to the Financial Statements
1. General Information
Airwaves Facilities Management Limited is a private company, limited by shares, incorporated in England & Wales, registered number 10696183 . The registered office is Home Farm The Woodyard (Unit 1), Meriden Road, Berkswell, Coventry, England, CV7 7SL.
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. Intangible Fixed Assets and Amortisation - Goodwill
Goodwill is the difference between amounts paid on the acquisition of a business and the fair value of the separable net assets. It is amortised to profit and loss account over its estimated economic life of 05 years.
2.4. 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 15% Reducing Balance
Motor Vehicles 25% Reducing Balance
Fixtures & Fittings 25% Straight Line
Computer Equipment 33% Straight Line
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 period, 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. Government Grant
Government grants are recognised in the profit and loss account in an appropriate manner that matches them with the expenditure towards which they are intended to contribute.
Grants for immediate financial support or to cover costs already incurred are recognised immediately in the profit and loss account. Grants towards general activities of the entity over a specific period are recognised in the profit and loss account over that period.
Grants towards fixed assets are recognised over the expected useful lives of the related assets and are treated as deferred income and released to the profit and loss account over the useful life of the asset concerned.
All grants in the profit and loss account are recognised when all conditions for receipt have been complied with.
3. Average Number of Employees
Average number of employees, including directors, during the period was: 50 (2023: 31)
50 31
4. Intangible Assets
Goodwill
£
Cost
As at 1 April 2023 31,000
As at 30 September 2024 31,000
Amortisation
As at 1 April 2023 -
Provided during the period 6,200
As at 30 September 2024 6,200
Net Book Value
As at 30 September 2024 24,800
As at 1 April 2023 31,000
5. Tangible Assets
Plant & Machinery Motor Vehicles Fixtures & Fittings Computer Equipment Total
£ £ £ £ £
Cost
As at 1 April 2023 98,942 380,116 - 7,828 486,886
Additions 38,015 110,915 2,511 4,481 155,922
Disposals - (21,422 ) - - (21,422 )
As at 30 September 2024 136,957 469,609 2,511 12,309 621,386
Depreciation
As at 1 April 2023 26,109 65,616 - 4,968 96,693
Provided during the period 16,629 101,021 628 3,051 121,329
As at 30 September 2024 42,738 166,637 628 8,019 218,022
Net Book Value
As at 30 September 2024 94,219 302,972 1,883 4,290 403,364
As at 1 April 2023 72,833 314,500 - 2,860 390,193
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6. Debtors
30 September 2024 31 March 2023
£ £
Due within one year
Trade debtors 281,645 213,580
Amounts owed by group undertakings 211,489 115,023
493,134 328,603
7. Creditors: Amounts Falling Due Within One Year
30 September 2024 31 March 2023
£ £
Trade creditors 144,124 24,175
Bank loans and overdrafts 10,259 17,634
Other creditors 51,798 70,026
Taxation and social security 248,647 124,412
454,828 236,247
8. Creditors: Amounts Falling Due After More Than One Year
30 September 2024 31 March 2023
£ £
Bank loans 6,402 59,198
Other creditors 251,908 235,398
258,310 294,596
9. Deferred Taxation
Deferred tax is recognised in respect of all timing differences that have orginated but not reversed at the reporting date. Inrelieved tax losses and other deferred tax assets are recognised only to the extent that it is more likely than not that they will be recovered against the reversal of deferred tax liabilities or other future taxabale profits. Deferred tax is measured on an undiscounted basis at the tax rates that would apply in the periods in which timing differences are expected to reverse, based on tax and laws enacted at the statement of financial position date.
30 September 2024 31 March 2023
£ £
Other timing differences 76,560 74,136
10. Share Capital
30 September 2024 31 March 2023
£ £
Allotted, Called up and fully paid 100 100
11. Ultimate Controlling Party
The ultimate controlling party is Daniel Povey as a result of his shareholding in the ultimate parent company Airwaves Group Ltd.
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