Acorah Software Products - Accounts Production 16.1.300 false true 31 March 2023 1 April 2022 false 1 April 2023 31 March 2024 31 March 2024 NI059524 Mr Robert Dobson Mrs Darlene Keys Mr James Dobson Mr Malcolm Keys Mr Colin Potts iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure NI059524 2023-03-31 NI059524 2024-03-31 NI059524 2023-04-01 2024-03-31 NI059524 frs-core:CurrentFinancialInstruments 2024-03-31 NI059524 frs-core:Non-currentFinancialInstruments 2024-03-31 NI059524 frs-core:FurnitureFittings 2024-03-31 NI059524 frs-core:FurnitureFittings 2023-04-01 2024-03-31 NI059524 frs-core:FurnitureFittings 2023-03-31 NI059524 frs-core:LandBuildings frs-core:LeasedAssetsHeldAsLessee 2024-03-31 NI059524 frs-core:LandBuildings frs-core:LeasedAssetsHeldAsLessee 2023-04-01 2024-03-31 NI059524 frs-core:LandBuildings frs-core:LeasedAssetsHeldAsLessee 2023-03-31 NI059524 frs-core:MotorVehicles 2024-03-31 NI059524 frs-core:MotorVehicles 2023-04-01 2024-03-31 NI059524 frs-core:MotorVehicles 2023-03-31 NI059524 frs-core:PlantMachinery 2024-03-31 NI059524 frs-core:PlantMachinery 2023-04-01 2024-03-31 NI059524 frs-core:PlantMachinery 2023-03-31 NI059524 frs-core:ShareCapital 2024-03-31 NI059524 frs-core:RetainedEarningsAccumulatedLosses 2024-03-31 NI059524 frs-bus:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 NI059524 frs-bus:FilletedAccounts 2023-04-01 2024-03-31 NI059524 frs-bus:SmallEntities 2023-04-01 2024-03-31 NI059524 frs-bus:AuditExempt-NoAccountantsReport 2023-04-01 2024-03-31 NI059524 frs-bus:SmallCompaniesRegimeForAccounts 2023-04-01 2024-03-31 NI059524 frs-bus:Director1 2023-04-01 2024-03-31 NI059524 frs-bus:Director2 2023-04-01 2024-03-31 NI059524 frs-bus:Director3 2023-04-01 2024-03-31 NI059524 frs-bus:Director4 2023-04-01 2024-03-31 NI059524 frs-bus:CompanySecretary1 2023-04-01 2024-03-31 NI059524 frs-countries:NorthernIreland 2023-04-01 2024-03-31 NI059524 2022-03-31 NI059524 2023-03-31 NI059524 2022-04-01 2023-03-31 NI059524 frs-core:CurrentFinancialInstruments 2023-03-31 NI059524 frs-core:Non-currentFinancialInstruments 2023-03-31 NI059524 frs-core:ShareCapital 2023-03-31 NI059524 frs-core:RetainedEarningsAccumulatedLosses 2023-03-31
Registered number: NI059524
Pig Innovation Centre Limited
Unaudited Financial Statements
For The Year Ended 31 March 2024
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: NI059524
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 379,771 286,770
379,771 286,770
CURRENT ASSETS
Stocks 5 298,489 345,939
Debtors 6 84,357 114,717
Cash at bank and in hand 233,073 93,404
615,919 554,060
Creditors: Amounts Falling Due Within One Year 7 (686,203 ) (580,368 )
NET CURRENT ASSETS (LIABILITIES) (70,284 ) (26,308 )
TOTAL ASSETS LESS CURRENT LIABILITIES 309,487 260,462
Creditors: Amounts Falling Due After More Than One Year 8 (84,583 ) (119,583 )
NET ASSETS 224,904 140,879
CAPITAL AND RESERVES
Called up share capital 9 200 200
Profit and Loss Account 224,704 140,679
SHAREHOLDERS' FUNDS 224,904 140,879
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For the year ending 31 March 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 James Dobson
Director
Mr Malcolm Keys
Director
24/03/2025
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
Pig Innovation Centre Limited is a private company, limited by shares, incorporated in Northern Ireland, registered number NI059524 . The registered office is 14 Kirby's Lane, Muckamore, ANTRIM, Co. Antrim, BT41 4PP.
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:
Leasehold Straight line over the life of the lease
Plant & Machinery 5%% straight line
Motor Vehicles 20% straight line
Fixtures & Fittings 33% straight line
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.
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2.5. 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 year was: 7 (2023: 7)
7 7
4. Tangible Assets
Land & Property
Leasehold Plant & Machinery Motor Vehicles Fixtures & Fittings Total
£ £ £ £ £
Cost
As at 1 April 2023 55,619 1,209,854 9,000 34,973 1,309,446
Additions 64,217 92,298 - - 156,515
As at 31 March 2024 119,836 1,302,152 9,000 34,973 1,465,961
Depreciation
As at 1 April 2023 43,704 935,713 9,000 34,259 1,022,676
Provided during the period 2,800 60,000 - 714 63,514
As at 31 March 2024 46,504 995,713 9,000 34,973 1,086,190
Net Book Value
As at 31 March 2024 73,332 306,439 - - 379,771
As at 1 April 2023 11,915 274,141 - 714 286,770
5. Stocks
2024 2023
£ £
Stock 298,489 345,939
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6. Debtors
2024 2023
£ £
Due within one year
Trade debtors 30,793 34,291
Prepayments and accrued income 25,343 37,590
Deferred tax current asset 19,079 19,079
VAT 9,142 23,757
84,357 114,717
7. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 507,262 478,747
Bank loans and overdrafts 35,000 35,000
Other taxes and social security 2,213 3,274
Other creditors 1,355 1,192
Accruals and deferred income 118,407 40,189
Amounts owed to related parties 21,966 21,966
686,203 580,368
8. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Bank loans 84,583 119,583
9. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 200 200
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