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 08589595 Mrs Deborah Harnwell Mr James Harnwell iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 08589595 2023-06-30 08589595 2024-06-30 08589595 2023-07-01 2024-06-30 08589595 frs-core:CurrentFinancialInstruments 2024-06-30 08589595 frs-core:Non-currentFinancialInstruments 2024-06-30 08589595 frs-core:ComputerEquipment 2024-06-30 08589595 frs-core:ComputerEquipment 2023-07-01 2024-06-30 08589595 frs-core:ComputerEquipment 2023-06-30 08589595 frs-core:FurnitureFittings 2024-06-30 08589595 frs-core:FurnitureFittings 2023-07-01 2024-06-30 08589595 frs-core:FurnitureFittings 2023-06-30 08589595 frs-core:MotorVehicles 2024-06-30 08589595 frs-core:MotorVehicles 2023-07-01 2024-06-30 08589595 frs-core:MotorVehicles 2023-06-30 08589595 frs-core:PlantMachinery 2024-06-30 08589595 frs-core:PlantMachinery 2023-07-01 2024-06-30 08589595 frs-core:PlantMachinery 2023-06-30 08589595 frs-core:ShareCapital 2024-06-30 08589595 frs-core:RetainedEarningsAccumulatedLosses 2024-06-30 08589595 frs-bus:PrivateLimitedCompanyLtd 2023-07-01 2024-06-30 08589595 frs-bus:FilletedAccounts 2023-07-01 2024-06-30 08589595 frs-bus:SmallEntities 2023-07-01 2024-06-30 08589595 frs-bus:AuditExempt-NoAccountantsReport 2023-07-01 2024-06-30 08589595 frs-bus:SmallCompaniesRegimeForAccounts 2023-07-01 2024-06-30 08589595 frs-bus:Director1 2023-07-01 2024-06-30 08589595 frs-bus:Director1 2023-06-30 08589595 frs-bus:Director1 2024-06-30 08589595 frs-bus:Director2 2023-07-01 2024-06-30 08589595 frs-core:CurrentFinancialInstruments 1 2024-06-30 08589595 frs-countries:EnglandWales 2023-07-01 2024-06-30 08589595 2022-06-30 08589595 2023-06-30 08589595 2022-07-01 2023-06-30 08589595 frs-core:CurrentFinancialInstruments 2023-06-30 08589595 frs-core:Non-currentFinancialInstruments 2023-06-30 08589595 frs-core:ShareCapital 2023-06-30 08589595 frs-core:RetainedEarningsAccumulatedLosses 2023-06-30 08589595 frs-core:CurrentFinancialInstruments 1 2023-06-30
Registered number: 08589595
Premier Autovision Limited
Unaudited Financial Statements
For The Year Ended 30 June 2024
GMS FC Limited
1 London Road
Ipswich
Suffolk
IP1 2HA
Unaudited Financial Statements
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 08589595
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 24,398 3,807
24,398 3,807
CURRENT ASSETS
Stocks 5 35,443 42,733
Debtors 6 49,839 114,668
Cash at bank and in hand 20,684 40,345
105,966 197,746
Creditors: Amounts Falling Due Within One Year 7 (57,953 ) (155,384 )
NET CURRENT ASSETS (LIABILITIES) 48,013 42,362
TOTAL ASSETS LESS CURRENT LIABILITIES 72,411 46,169
Creditors: Amounts Falling Due After More Than One Year 8 (10,506 ) (20,752 )
PROVISIONS FOR LIABILITIES
Deferred Taxation (145 ) -
NET ASSETS 61,760 25,417
CAPITAL AND RESERVES
Called up share capital 9 2 2
Profit and Loss Account 61,758 25,415
SHAREHOLDERS' FUNDS 61,760 25,417
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 James Harnwell
Director
18th 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
Premier Autovision Limited is a private company, limited by shares, incorporated in England & Wales, registered number 08589595 . The registered office is 1 London Road, Ipswich, IP1 2HA.
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 25% Straight Line
Motor Vehicles 20% Straight Line
Fixtures & Fittings 15% Straight Line
Computer Equipment 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.
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 or deferred tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.
Page 3
Page 4
3. Average Number of Employees
Average number of employees, including directors, during the year was: 8 (2023: 8)
8 8
4. Tangible Assets
Plant & Machinery Motor Vehicles Fixtures & Fittings Computer Equipment Total
£ £ £ £ £
Cost
As at 1 July 2023 25,401 34,566 - 11,734 71,701
Additions 6,291 15,510 2,917 2,039 26,757
As at 30 June 2024 31,692 50,076 2,917 13,773 98,458
Depreciation
As at 1 July 2023 24,433 34,563 - 8,898 67,894
Provided during the period 1,199 3,102 146 1,719 6,166
As at 30 June 2024 25,632 37,665 146 10,617 74,060
Net Book Value
As at 30 June 2024 6,060 12,411 2,771 3,156 24,398
As at 1 July 2023 968 3 - 2,836 3,807
5. Stocks
2024 2023
£ £
Finished goods 35,443 42,733
6. Debtors
2024 2023
£ £
Due within one year
Trade debtors 37,379 111,070
Other debtors 3,598 3,598
VAT 1,755 -
Directors' loan accounts 7,107 -
49,839 114,668
7. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 15,426 15,781
Bank loans and overdrafts 10,246 9,994
Corporation tax 3,209 126
Other taxes and social security 2,872 2,244
VAT - 13,061
Other creditors 18,816 2,685
Pension liability 375 -
Accruals and deferred income 1,705 41,496
Directors' loan accounts 5,304 69,997
57,953 155,384
Page 4
Page 5
8. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Bank loans 10,506 20,752
10,506 20,752
9. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 2 2
10. Directors Advances, Credits and Guarantees
Included within Debtors are the following loans to directors:
As at 1 July 2023 Amounts advanced Amounts repaid Amounts written off As at 30 June 2024
£ £ £ £ £
Mr James Harnwell (64,693 ) 71,800 - 7,107 -
The above loan is unsecured, interest free and will be repaid within 9 months.
Page 5