Acorah Software Products - Accounts Production 16.1.300 false true 30 June 2023 1 July 2022 false 1 July 2023 30 June 2024 30 June 2024 02509503 Mr Sameer Shah Mrs Meera Shah Mr Lakhamsi Shah Mrs Meera Shah iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 02509503 2023-06-30 02509503 2024-06-30 02509503 2023-07-01 2024-06-30 02509503 frs-core:CurrentFinancialInstruments 2024-06-30 02509503 frs-core:Non-currentFinancialInstruments 2024-06-30 02509503 frs-core:ComputerEquipment 2024-06-30 02509503 frs-core:ComputerEquipment 2023-07-01 2024-06-30 02509503 frs-core:ComputerEquipment 2023-06-30 02509503 frs-core:FurnitureFittings 2024-06-30 02509503 frs-core:FurnitureFittings 2023-07-01 2024-06-30 02509503 frs-core:FurnitureFittings 2023-06-30 02509503 frs-core:NetGoodwill 2024-06-30 02509503 frs-core:NetGoodwill 2023-07-01 2024-06-30 02509503 frs-core:NetGoodwill 2023-06-30 02509503 frs-core:LandBuildings frs-core:OwnedOrFreeholdAssets 2024-06-30 02509503 frs-core:LandBuildings frs-core:OwnedOrFreeholdAssets 2023-07-01 2024-06-30 02509503 frs-core:LandBuildings frs-core:OwnedOrFreeholdAssets 2023-06-30 02509503 frs-core:MotorVehicles 2024-06-30 02509503 frs-core:MotorVehicles 2023-07-01 2024-06-30 02509503 frs-core:MotorVehicles 2023-06-30 02509503 frs-core:PlantMachinery 2024-06-30 02509503 frs-core:PlantMachinery 2023-07-01 2024-06-30 02509503 frs-core:PlantMachinery 2023-06-30 02509503 frs-core:ShareCapital 2024-06-30 02509503 frs-core:RetainedEarningsAccumulatedLosses 2024-06-30 02509503 frs-bus:PrivateLimitedCompanyLtd 2023-07-01 2024-06-30 02509503 frs-bus:FilletedAccounts 2023-07-01 2024-06-30 02509503 frs-bus:SmallEntities 2023-07-01 2024-06-30 02509503 frs-bus:AuditExempt-NoAccountantsReport 2023-07-01 2024-06-30 02509503 frs-bus:SmallCompaniesRegimeForAccounts 2023-07-01 2024-06-30 02509503 frs-bus:Director1 2023-07-01 2024-06-30 02509503 frs-bus:Director2 2023-07-01 2024-06-30 02509503 frs-bus:Director3 2023-07-01 2024-06-30 02509503 frs-bus:CompanySecretary1 2023-07-01 2024-06-30 02509503 frs-core:CurrentFinancialInstruments 1 2024-06-30 02509503 frs-core:CurrentFinancialInstruments 2 2024-06-30 02509503 frs-countries:EnglandWales 2023-07-01 2024-06-30 02509503 2022-06-30 02509503 2023-06-30 02509503 2022-07-01 2023-06-30 02509503 frs-core:CurrentFinancialInstruments 2023-06-30 02509503 frs-core:Non-currentFinancialInstruments 2023-06-30 02509503 frs-core:ShareCapital 2023-06-30 02509503 frs-core:RetainedEarningsAccumulatedLosses 2023-06-30 02509503 frs-core:CurrentFinancialInstruments 1 2023-06-30 02509503 frs-core:CurrentFinancialInstruments 2 2023-06-30
Registered number: 02509503
M.S. Laboratories Limited
Unaudited Financial Statements
For The Year Ended 30 June 2024
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—6
Page 1
Balance Sheet
Registered number: 02509503
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 5 455,320 457,833
455,320 457,833
CURRENT ASSETS
Stocks 6 20,000 17,500
Debtors 7 433,309 362,534
Cash at bank and in hand 367,360 402,759
820,669 782,793
Creditors: Amounts Falling Due Within One Year 8 (296,996 ) (268,013 )
NET CURRENT ASSETS (LIABILITIES) 523,673 514,780
TOTAL ASSETS LESS CURRENT LIABILITIES 978,993 972,613
Creditors: Amounts Falling Due After More Than One Year 9 (44,000 ) (88,000 )
PROVISIONS FOR LIABILITIES
Deferred Taxation (43,308 ) (72,967 )
NET ASSETS 891,685 811,646
CAPITAL AND RESERVES
Called up share capital 10 244,020 244,020
Profit and Loss Account 647,665 567,626
SHAREHOLDERS' FUNDS 891,685 811,646
Page 1
Page 2
For the year ending 30 June 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 Sameer Shah
Director
07/02/2025
The notes on pages 3 to 6 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
M.S. Laboratories Limited is a private company, limited by shares, incorporated in England & Wales, registered number 02509503 . The registered office is 33 Sanders Road, Finedon Road Ind. Est., Wellingborough, Northants, NN8 4NL.
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 .... 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:
Freehold NIL
Plant & Machinery 15% RB
Motor Vehicles 25% RB
Fixtures & Fittings 15% RB
Computer Equipment 15% RB
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.
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2.6. Financial Instruments
A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument.Basic financial instruments are initially recognised at transaction price and measured at amortised cost using the effective interest method. Where investments in non-derivative financial instruments are publicly traded, or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value through profit and loss. All other investments are subsequently measured at cost less impairment. Debtors and creditors that fall due within one year are recorded in the financial statements at transaction price and then subsequently measured at amortised cost. If the effects of the time value of money are immaterial, they are measured at cost (less impairment for trade debtors). Debtors are reviewed for impairment at each reporting date and any impairments are recorded within profit or loss and shown within administrative expenses when there is objective evidence that a debtor is impaired. Objective evidence that a debtor is impaired arises when the customer is unable to settle amounts owing to the company or the customer becomes bankrupt.Debtors do not carry interest and are stated at their nominal value. Trade creditors are not interest-bearing and are stated at their nominal value.Financial assets which are measured at cost or amortised cost are reviewed for objective evidence of impairment at each balance sheet date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately. All equity instruments, regardless of significance, and other financial assets that are individually significant, are assessed individually for impairment. Other financial assets are either assessed individually or grouped on the basis of similar credit risk characteristics. Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset which exceeds what the carrying amount would have been had the impairment loss not previously been recognised.
2.7. 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.
3. Average Number of Employees
Average number of employees, including directors, during the year was:
2024 2023
Office and administration 4 4
Sales, marketing and distribution 32 33
36 37
Page 4
Page 5
4. Intangible Assets
Goodwill
£
Cost
As at 1 July 2023 98,164
As at 30 June 2024 98,164
Amortisation
As at 1 July 2023 98,164
As at 30 June 2024 98,164
Net Book Value
As at 30 June 2024 -
As at 1 July 2023 -
5. Tangible Assets
Land & Property
Freehold Plant & Machinery Motor Vehicles Fixtures & Fittings
£ £ £ £
Cost
As at 1 July 2023 267,494 260,751 63,818 252,129
Additions - 18,425 16,000 352
As at 30 June 2024 267,494 279,176 79,818 252,481
Depreciation
As at 1 July 2023 - 192,113 38,562 190,940
Provided during the period - 13,060 10,314 9,231
As at 30 June 2024 - 205,173 48,876 200,171
Net Book Value
As at 30 June 2024 267,494 74,003 30,942 52,310
As at 1 July 2023 267,494 68,638 25,256 61,189
Computer Equipment Total
£ £
Cost
As at 1 July 2023 89,210 933,402
Additions 1,198 35,975
As at 30 June 2024 90,408 969,377
Depreciation
As at 1 July 2023 53,954 475,569
Provided during the period 5,883 38,488
As at 30 June 2024 59,837 514,057
...CONTINUED
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Page 6
Net Book Value
As at 30 June 2024 30,571 455,320
As at 1 July 2023 35,256 457,833
6. Stocks
2024 2023
£ £
Materials 20,000 17,500
7. Debtors
2024 2023
£ £
Due within one year
Trade debtors 432,393 361,618
Other debtors 916 916
433,309 362,534
8. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 127,024 105,088
Bank loans and overdrafts 44,000 44,000
Corporation tax 10,519 4,509
Other taxes and social security 16,630 19,594
VAT 78,056 75,679
Other creditors 3,900 3,900
Pension control 3,801 4,146
Other creditors - Credit Card 4,623 633
Accruals and deferred income 2,259 2,259
Directors' loan accounts 6,184 8,205
296,996 268,013
9. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Bank loans - CBIL Loan Long Term 44,000 88,000
10. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 244,020 244,020
Page 6