Acorah Software Products - Accounts Production 16.1.300 false true true 31 March 2023 1 January 2022 false 1 April 2023 31 March 2024 31 March 2024 04409423 Mr Michael Kilcourse Mr James Dobson Mr Edward Watkins Mr Matthew Dobson Ms Alison Husbands Dundeis Ltd false iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 04409423 2023-03-31 04409423 2024-03-31 04409423 2023-04-01 2024-03-31 04409423 frs-core:CurrentFinancialInstruments 2024-03-31 04409423 frs-core:Non-currentFinancialInstruments 2024-03-31 04409423 frs-core:ComputerEquipment 2024-03-31 04409423 frs-core:ComputerEquipment 2023-04-01 2024-03-31 04409423 frs-core:ComputerEquipment 2023-03-31 04409423 frs-core:DevelopmentCostsCapitalisedDevelopmentExpenditure 2023-04-01 2024-03-31 04409423 frs-core:FurnitureFittings 2024-03-31 04409423 frs-core:FurnitureFittings 2023-04-01 2024-03-31 04409423 frs-core:FurnitureFittings 2023-03-31 04409423 frs-core:NetGoodwill 2024-03-31 04409423 frs-core:NetGoodwill 2023-04-01 2024-03-31 04409423 frs-core:NetGoodwill 2023-03-31 04409423 frs-core:LandBuildings frs-core:LeasedAssetsHeldAsLessee 2024-03-31 04409423 frs-core:LandBuildings frs-core:LeasedAssetsHeldAsLessee 2023-04-01 2024-03-31 04409423 frs-core:LandBuildings frs-core:LeasedAssetsHeldAsLessee 2023-03-31 04409423 frs-core:MotorVehicles 2024-03-31 04409423 frs-core:MotorVehicles 2023-04-01 2024-03-31 04409423 frs-core:MotorVehicles 2023-03-31 04409423 frs-core:OtherResidualIntangibleAssets 2024-03-31 04409423 frs-core:OtherResidualIntangibleAssets 2023-04-01 2024-03-31 04409423 frs-core:OtherResidualIntangibleAssets 2023-03-31 04409423 frs-core:WithinOneYear 2024-03-31 04409423 frs-core:ShareCapital 2024-03-31 04409423 frs-core:RetainedEarningsAccumulatedLosses 2024-03-31 04409423 frs-bus:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 04409423 frs-bus:FilletedAccounts 2023-04-01 2024-03-31 04409423 frs-bus:SmallEntities 2023-04-01 2024-03-31 04409423 frs-bus:AuditExempt-NoAccountantsReport 2023-04-01 2024-03-31 04409423 frs-bus:SmallCompaniesRegimeForAccounts 2023-04-01 2024-03-31 04409423 1 2023-04-01 2024-03-31 04409423 frs-bus:Director1 2023-04-01 2024-03-31 04409423 frs-bus:Director2 2023-04-01 2024-03-31 04409423 frs-bus:Director3 2023-04-01 2024-03-31 04409423 frs-bus:Director4 2023-04-01 2024-03-31 04409423 frs-bus:CompanySecretary1 2023-04-01 2024-03-31 04409423 frs-countries:EnglandWales 2023-04-01 2024-03-31 04409423 2021-12-31 04409423 2023-03-31 04409423 2022-01-01 2023-03-31 04409423 frs-core:CurrentFinancialInstruments 2023-03-31 04409423 frs-core:Non-currentFinancialInstruments 2023-03-31 04409423 frs-core:BetweenOneFiveYears 2023-03-31 04409423 frs-core:WithinOneYear 2023-03-31 04409423 frs-core:ShareCapital 2023-03-31 04409423 frs-core:RetainedEarningsAccumulatedLosses 2023-03-31
Registered number: 04409423
Dundeis (UK) Ltd
Unaudited Financial Statements
For The Year Ended 31 March 2024
Contents
Page
Statement of Financial Position 1—2
Notes to the Financial Statements 3—8
Page 1
Statement of Financial Position
Registered number: 04409423
31 March 2024 31 March 2023
Notes £ £ £ £
FIXED ASSETS
Intangible Assets 4 106,462 19,711
Tangible Assets 5 222,451 170,050
328,913 189,761
CURRENT ASSETS
Stocks 6 1,435,252 613,060
Debtors 7 1,294,925 636,229
Cash at bank and in hand 119,290 90,147
2,849,467 1,339,436
Creditors: Amounts Falling Due Within One Year 8 (968,746 ) (774,547 )
NET CURRENT ASSETS (LIABILITIES) 1,880,721 564,889
TOTAL ASSETS LESS CURRENT LIABILITIES 2,209,634 754,650
Creditors: Amounts Falling Due After More Than One Year 9 (1,476,394 ) (9,433 )
NET ASSETS 733,240 745,217
CAPITAL AND RESERVES
Called up share capital 11 1,002,000 2,000
Income Statement (268,760 ) 743,217
SHAREHOLDERS' FUNDS 733,240 745,217
Page 1
Page 2
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 Income Statement.
On behalf of the board
Mr James Dobson
Director
31/03/2025
The notes on pages 3 to 8 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Dundeis (UK) Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 04409423 . The registered office is Unit 3 Heart Of Wales Business Park, Llandrindod Wells, Powys, LD1 5AB.
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. Going Concern Disclosure
The directors have considered the effect external factors on the sector including Covid-19 pandemic and the ongoing challenges within the UK economy including impacting inflation, interest rate costs and energy costs. Together with the costs incurred in scaling the business post change of ownership, there has been a negative impact on the company's trading results. However, with the ongoing support of the majority shareholder, reflected in the subscription for preference share capital in the year, the directors do not believe events or outturn for the year will provide a negative impact on the company and it will not affect the ability to continue to trade for the foreseeable future. On this basis, the directors have prepared these financial statements on a going concern basis.
2.3. 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.
2.4. 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 income statement over its estimated economic life of 20 years.
2.5. Intangible Fixed Assets and Amortisation - Other Intangible
Other intangible assets are computer software. It is amortised to income statement over its estimated economic life of 10 years.
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2.6. 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 10% straight line
Motor Vehicles 33% reducing balance
Fixtures & Fittings 10% straight line
Computer Equipment 33% straight line
2.7. 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 income statement 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 income statement as incurred.
2.8. 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.
2.9. Financial Instruments
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the entity after deducting all of its financial liabilities.
2.10. Foreign Currencies
Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the statement of financial position date. Transactions in foreign currencies are translated into sterling at the rate ruling on the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
2.11. 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.
...CONTINUED
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2.11. Taxation - continued
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.
2.12. Pensions
The company operates a defined pension contribution scheme. Contributions are charged to the income statement as they become payable in accordance with the rules of the scheme.
2.13. Government Grant
Government grants are recognised in the income statement 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 income statement. Grants towards general activities of the entity over a specific period are recognised in the income statement 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 income statement over the useful life of the asset concerned.
All grants in the income statement 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: 43 (2023: 31)
43 31
4. Intangible Assets
Goodwill Other Total
£ £ £
Cost
As at 1 April 2023 483,400 34,284 517,684
Additions - 96,214 96,214
As at 31 March 2024 483,400 130,498 613,898
...CONTINUED
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Amortisation
As at 1 April 2023 483,400 14,573 497,973
Provided during the period - 9,463 9,463
As at 31 March 2024 483,400 24,036 507,436
Net Book Value
As at 31 March 2024 - 106,462 106,462
As at 1 April 2023 - 19,711 19,711
5. Tangible Assets
Land & Property
Leasehold Motor Vehicles Fixtures & Fittings Computer Equipment Total
£ £ £ £ £
Cost
As at 1 April 2023 57,713 31,351 610,062 - 699,126
Additions - - 1,058 79,910 80,968
As at 31 March 2024 57,713 31,351 611,120 79,910 780,094
Depreciation
As at 1 April 2023 44,207 27,379 457,490 - 529,076
Provided during the period 2,463 1,311 19,867 4,926 28,567
As at 31 March 2024 46,670 28,690 477,357 4,926 557,643
Net Book Value
As at 31 March 2024 11,043 2,661 133,763 74,984 222,451
As at 1 April 2023 13,506 3,972 152,572 - 170,050
6. Stocks
31 March 2024 31 March 2023
£ £
Stock 1,435,252 613,060
7. Debtors
31 March 2024 31 March 2023
£ £
Due within one year
Trade debtors 1,022,214 515,154
Other debtors 272,711 121,075
1,294,925 636,229
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8. Creditors: Amounts Falling Due Within One Year
31 March 2024 31 March 2023
£ £
Net obligations under finance lease and hire purchase contracts 14,122 15,162
Trade creditors 313,045 456,764
Bank loans and overdrafts 403,465 219,165
Amounts owed to group undertakings 60,323 -
Other creditors 137,523 70,662
Taxation and social security 40,268 12,794
968,746 774,547
The hire purchase liabilities noted above are secured on the associated asset.
The bank borrowings are secured by fixed and floating charges over the asssets of the company.
9. Creditors: Amounts Falling Due After More Than One Year
31 March 2024 31 March 2023
£ £
Net obligations under finance lease and hire purchase contracts - 6,177
Amounts owed to participating interests 1,475,000 -
Other creditors 1,394 3,256
1,476,394 9,433
10. Obligations Under Finance Leases and Hire Purchase
31 March 2024 31 March 2023
£ £
The future minimum finance lease payments are as follows:
Not later than one year 14,122 15,162
Later than one year and not later than five years - 6,177
14,122 21,339
14,122 21,339
11. Share Capital
31 March 2024 31 March 2023
£ £
Allotted, Called up and fully paid 1,002,000 2,000
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12. Related Party Transactions
At the year end Mr E R Watkins had a loan balance due bythe company of £1,293 (2023: £1,293). The loan is repayable on demand.
The company has taken advantage of the exemptions provided in FRS102 from reporting transactions between wholly owned members of the Group.
13. Controlling Party
The company's controlling party is Dundeis Ltd by virtue of his ownership of 87.5% of the issued share capital in the company.
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