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Registered number: 05530980
Acqsys Supply Chain Solutions Limited
Unaudited Financial Statements
For The Year Ended 30 September 2024
Mirage Accountants Ltd
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—7
Page 1
Balance Sheet
Registered number: 05530980
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 194,755 192,241
Investments 5 280,000 289,800
474,755 482,041
CURRENT ASSETS
Debtors 6 855,287 347,891
Cash at bank and in hand 102,751 380,960
958,038 728,851
Creditors: Amounts Falling Due Within One Year 7 (150,608 ) (114,322 )
NET CURRENT ASSETS (LIABILITIES) 807,430 614,529
TOTAL ASSETS LESS CURRENT LIABILITIES 1,282,185 1,096,570
Creditors: Amounts Falling Due After More Than One Year 8 (98,295 ) (95,037 )
NET ASSETS 1,183,890 1,001,533
CAPITAL AND RESERVES
Called up share capital 10 2,800 2,800
Share premium account 809,720 809,720
Profit and Loss Account 371,370 189,013
SHAREHOLDERS' FUNDS 1,183,890 1,001,533
Page 1
Page 2
For the year 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 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 W Howie
Director
Mr G Williams
Director
24/03/2025
The notes on pages 3 to 7 form part of these financial statements.
Page 2
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Notes to the Financial Statements
1. General Information
Acqsys Supply Chain Solutions Limited is a private company, limited by shares, incorporated in England & Wales, registered number 05530980 . The registered office is Unit 41 Wildmoor Mill, Wildmoor, Bromsgrove, B61 0BX.
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:
Plant & Machinery 33.3% on cost
Computer Equipment 20% on cost
Investments in subsidiaries
Investments in subsidiary undertakings are recognised at cost.
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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.
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.
Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.
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 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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2.7. Pensions
The company operates a defined pension contribution scheme. Contributions are charged to the profit and loss account as they become payable in accordance with the rules of the scheme.
2.8. Fixed asset investments
Fixed asset investments are recognised initially at fair value which is normally the transaction price (but excludes any transaction costs). Subsequently, they are measured at fair value through profit or loss except for those equity investments that are not publicly traded and whose fair value cannot otherwise be measured reliably which are recognised at cost less impairment until a reliable measure of fair value becomes available. If a reliable measure of fair value is no longer available, the equity instrument’s fair value on the last date the instrument was reliably measurable is treated as the cost of the instrument.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 4 (2023: 4)
4 4
4. Tangible Assets
Plant & Machinery Computer Equipment Total
£ £ £
Cost
As at 1 October 2023 633,009 49,638 682,647
Additions 48,504 2,828 51,332
Disposals (28,865 ) - (28,865 )
As at 30 September 2024 652,648 52,466 705,114
Depreciation
As at 1 October 2023 483,801 6,605 490,406
Provided during the period 38,530 10,288 48,818
Disposals (28,865 ) - (28,865 )
As at 30 September 2024 493,466 16,893 510,359
Net Book Value
As at 30 September 2024 159,182 35,573 194,755
As at 1 October 2023 149,208 43,033 192,241
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5. Investments
Subsidiaries
£
Cost
As at 1 October 2023 289,800
Disposals (9,800 )
As at 30 September 2024 280,000
Provision
As at 1 October 2023 -
As at 30 September 2024 -
Net Book Value
As at 30 September 2024 280,000
As at 1 October 2023 289,800
Fixed asset investments are not listed and are held at cost less impairment as fair value cannot be
reliably determined.
6. Debtors
2024 2023
£ £
Due within one year
Trade debtors 202,531 234,822
Amounts owed by group undertakings 116,928 81,966
Amounts owed by participating interests 463,867 9,070
Other debtors 71,961 22,033
855,287 347,891
7. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Net obligations under finance lease and hire purchase contracts 8,091 -
Trade creditors 3,192 15,408
Bank loans and overdrafts 18,222 28,282
Other loans 24,366 21,589
Other creditors 2,992 4,097
Taxation and social security 93,745 44,946
150,608 114,322
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8. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Net obligations under finance lease and hire purchase contracts 27,624 -
Other loans 70,671 95,037
98,295 95,037
9. Obligations Under Finance Leases and Hire Purchase
2024 2023
£ £
The future minimum finance lease payments are as follows:
Not later than one year 8,091 -
Later than one year and not later than five years 27,624 -
35,715 -
35,715 -
10. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 2,800 2,800
11. Directors Advances, Credits and Guarantees
Included within Debtors are the following loans to directors:
As at 1 October 2023 Amounts advanced Amounts repaid Amounts written off As at 30 September 2024
£ £ £ £ £
Mr Graham Williams (1,646 ) 50,000 - - 48,354
The above loan is unsecured, interest free and was repaid in full on 4 December 2024.
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