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 03011424 Mr G C Martin Mr D N Martin Mrs E R Martin iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 03011424 2023-06-30 03011424 2024-06-30 03011424 2023-07-01 2024-06-30 03011424 frs-core:CurrentFinancialInstruments 2024-06-30 03011424 frs-core:Non-currentFinancialInstruments 2024-06-30 03011424 frs-core:BetweenOneFiveYears 2024-06-30 03011424 frs-core:MotorVehicles 2024-06-30 03011424 frs-core:MotorVehicles 2023-07-01 2024-06-30 03011424 frs-core:MotorVehicles 2023-06-30 03011424 frs-core:PlantMachinery 2024-06-30 03011424 frs-core:PlantMachinery 2023-07-01 2024-06-30 03011424 frs-core:PlantMachinery 2023-06-30 03011424 frs-core:WithinOneYear 2024-06-30 03011424 frs-core:ShareCapital 2024-06-30 03011424 frs-core:RetainedEarningsAccumulatedLosses 2024-06-30 03011424 frs-bus:PrivateLimitedCompanyLtd 2023-07-01 2024-06-30 03011424 frs-bus:FilletedAccounts 2023-07-01 2024-06-30 03011424 frs-bus:SmallEntities 2023-07-01 2024-06-30 03011424 frs-bus:AuditExempt-NoAccountantsReport 2023-07-01 2024-06-30 03011424 frs-bus:SmallCompaniesRegimeForAccounts 2023-07-01 2024-06-30 03011424 frs-bus:Director1 2023-07-01 2024-06-30 03011424 frs-bus:Director1 2023-06-30 03011424 frs-bus:Director1 2024-06-30 03011424 frs-bus:Director2 2023-07-01 2024-06-30 03011424 frs-bus:CompanySecretary1 2023-07-01 2024-06-30 03011424 frs-countries:EnglandWales 2023-07-01 2024-06-30 03011424 2022-06-30 03011424 2023-06-30 03011424 2022-07-01 2023-06-30 03011424 frs-core:CurrentFinancialInstruments 2023-06-30 03011424 frs-core:Non-currentFinancialInstruments 2023-06-30 03011424 frs-core:BetweenOneFiveYears 2023-06-30 03011424 frs-core:WithinOneYear 2023-06-30 03011424 frs-core:ShareCapital 2023-06-30 03011424 frs-core:RetainedEarningsAccumulatedLosses 2023-06-30
Registered number: 03011424
Champion Materials Handling Limited
Unaudited Financial Statements
For The Year Ended 30 June 2024
Simpson Associates
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—6
Page 1
Balance Sheet
Registered number: 03011424
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 424,506 330,351
424,506 330,351
CURRENT ASSETS
Stocks 5 41,673 41,173
Debtors 6 125,486 133,562
Cash at bank and in hand 71,934 37,781
239,093 212,516
Creditors: Amounts Falling Due Within One Year 7 (350,091 ) (285,710 )
NET CURRENT ASSETS (LIABILITIES) (110,998 ) (73,194 )
TOTAL ASSETS LESS CURRENT LIABILITIES 313,508 257,157
Creditors: Amounts Falling Due After More Than One Year 8 (73,004 ) (42,426 )
PROVISIONS FOR LIABILITIES
Deferred Taxation (52,238 ) (34,645 )
NET ASSETS 188,266 180,086
CAPITAL AND RESERVES
Called up share capital 10 50,000 50,000
Profit and Loss Account 138,266 130,086
SHAREHOLDERS' FUNDS 188,266 180,086
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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 D N Martin
Director
31/03/2025
The notes on pages 3 to 6 form part of these financial statements.
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Notes to the Financial Statements
1. General Information
Champion Materials Handling Limited is a private company, limited by shares, incorporated in England & Wales, registered number 03011424 . The registered office is 70 Seabourne Road, Bournemouth, Dorset, BH5 2HT.
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 20%/25% straight line
Motor Vehicles 20% straight line
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.
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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 year 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 asset reflects 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.
3. Average Number of Employees
Average number of employees, including directors, during the year was 11 (2023: 10)
11 10
4. Tangible Assets
Plant & Machinery Motor Vehicles Total
£ £ £
Cost
As at 1 July 2023 580,818 88,101 668,919
Additions 209,011 117,935 326,946
Disposals (151,863 ) (33,690 ) (185,553 )
As at 30 June 2024 637,966 172,346 810,312
Depreciation
As at 1 July 2023 267,284 71,284 338,568
Provided during the period 96,423 19,360 115,783
Disposals (41,015 ) (27,530 ) (68,545 )
As at 30 June 2024 322,692 63,114 385,806
Net Book Value
As at 30 June 2024 315,274 109,232 424,506
As at 1 July 2023 313,534 16,817 330,351
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5. Stocks
2024 2023
£ £
Finished goods 41,673 41,173
6. Debtors
2024 2023
£ £
Due within one year
Trade debtors 108,549 125,709
Other debtors 16,937 7,853
125,486 133,562
7. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Net obligations under finance lease and hire purchase contracts 41,677 16,148
Trade creditors 209,924 104,036
Bank loans and overdrafts 13,540 45,229
Other creditors 62,021 89,628
Taxation and social security 22,929 30,669
350,091 285,710
8. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Net obligations under finance lease and hire purchase contracts 63,177 18,944
Bank loans 9,827 23,482
73,004 42,426
9. Obligations Under Finance Leases and Hire Purchase
2024 2023
£ £
The future minimum finance lease payments are as follows:
Not later than one year 41,677 16,148
Later than one year and not later than five years 63,177 18,944
104,854 35,092
104,854 35,092
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10. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 50,000 50,000
11. 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 Derek Martin (22,962 ) 28,661 - - 5,698
The above loan is unsecured, interest free and repayable on demand which was cleared within 9 months of the end of the year end.
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