Acorah Software Products - Accounts Production 16.1.300 false true 31 July 2023 1 August 2022 false 1 August 2023 31 July 2024 31 July 2024 07330963 Mr David Morgan Mrs Rachel Morgan iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 07330963 2023-07-31 07330963 2024-07-31 07330963 2023-08-01 2024-07-31 07330963 frs-core:CurrentFinancialInstruments 2024-07-31 07330963 frs-core:Non-currentFinancialInstruments 2024-07-31 07330963 frs-core:BetweenOneFiveYears 2024-07-31 07330963 frs-core:ComputerEquipment 2024-07-31 07330963 frs-core:ComputerEquipment 2023-08-01 2024-07-31 07330963 frs-core:ComputerEquipment 2023-07-31 07330963 frs-core:MoreThanFiveYears 2024-07-31 07330963 frs-core:MotorVehicles 2024-07-31 07330963 frs-core:MotorVehicles 2023-08-01 2024-07-31 07330963 frs-core:MotorVehicles 2023-07-31 07330963 frs-core:PlantMachinery 2024-07-31 07330963 frs-core:PlantMachinery 2023-08-01 2024-07-31 07330963 frs-core:PlantMachinery 2023-07-31 07330963 frs-core:ShareCapital 2024-07-31 07330963 frs-core:RetainedEarningsAccumulatedLosses 2024-07-31 07330963 frs-bus:PrivateLimitedCompanyLtd 2023-08-01 2024-07-31 07330963 frs-bus:FilletedAccounts 2023-08-01 2024-07-31 07330963 frs-bus:SmallEntities 2023-08-01 2024-07-31 07330963 frs-bus:AuditExempt-NoAccountantsReport 2023-08-01 2024-07-31 07330963 frs-bus:SmallCompaniesRegimeForAccounts 2023-08-01 2024-07-31 07330963 frs-bus:Director1 2023-08-01 2024-07-31 07330963 frs-bus:Director2 2023-08-01 2024-07-31 07330963 frs-core:Non-currentFinancialInstruments 8 2024-07-31 07330963 frs-countries:EnglandWales 2023-08-01 2024-07-31 07330963 2022-07-31 07330963 2023-07-31 07330963 2022-08-01 2023-07-31 07330963 frs-core:CurrentFinancialInstruments 2023-07-31 07330963 frs-core:Non-currentFinancialInstruments 2023-07-31 07330963 frs-core:BetweenOneFiveYears 2023-07-31 07330963 frs-core:MoreThanFiveYears 2023-07-31 07330963 frs-core:WithinOneYear 2023-07-31 07330963 frs-core:ShareCapital 2023-07-31 07330963 frs-core:RetainedEarningsAccumulatedLosses 2023-07-31 07330963 frs-core:Non-currentFinancialInstruments 8 2023-07-31
Registered number: 07330963
ASR Projects Ltd
Unaudited Financial Statements
For The Year Ended 31 July 2024
Taxassist Accountants
Unaudited Financial Statements
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—6
Page 1
Balance Sheet
Registered number: 07330963
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 88,392 163,548
88,392 163,548
CURRENT ASSETS
Stocks 5 369,789 759,259
Debtors 6 305,305 254,921
Cash at bank and in hand 98,263 94,786
773,357 1,108,966
Creditors: Amounts Falling Due Within One Year 7 (403,861 ) (617,056 )
NET CURRENT ASSETS (LIABILITIES) 369,496 491,910
TOTAL ASSETS LESS CURRENT LIABILITIES 457,888 655,458
Creditors: Amounts Falling Due After More Than One Year 8 (189,980 ) (320,702 )
NET ASSETS 267,908 334,756
CAPITAL AND RESERVES
Called up share capital 10 2 2
Profit and Loss Account 267,906 334,754
SHAREHOLDERS' FUNDS 267,908 334,756
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For the year ending 31 July 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
Mrs Rachel Morgan
Director
13/01/2025
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
ASR Projects Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 07330963 . The registered office is 8 Station Road, Llanelli, Carms, SA15 1AL.
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% Straight Line
Motor Vehicles 25% Straight Line
Computer Equipment 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.
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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.
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 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: 15 (2023: 15)
15 15
4. Tangible Assets
Plant & Machinery Motor Vehicles Computer Equipment Total
£ £ £ £
Cost
As at 1 August 2023 182,700 274,778 9,463 466,941
Additions 2,175 - - 2,175
As at 31 July 2024 184,875 274,778 9,463 469,116
...CONTINUED
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Depreciation
As at 1 August 2023 103,685 192,700 7,008 303,393
Provided during the period 32,836 43,567 928 77,331
As at 31 July 2024 136,521 236,267 7,936 380,724
Net Book Value
As at 31 July 2024 48,354 38,511 1,527 88,392
As at 1 August 2023 79,015 82,078 2,455 163,548
5. Stocks
2024 2023
£ £
Work in progress 369,789 759,259
6. Debtors
2024 2023
£ £
Due within one year
Trade debtors 208,514 209,243
Other debtors 10,000 10,000
VAT 31,467 -
Directors' loan accounts 19,363 -
Amounts owed by associates - ASR Property Ltd 3,211 2,928
Amounts owed by Cadno Property Ltd 32,750 32,750
305,305 254,921
7. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Net obligations under finance lease and hire purchase contracts 39,197 55,106
Trade creditors 315,837 409,419
Bank loans and overdrafts 2,608 1,022
Corporation tax 26,766 35,630
Other taxes and social security 19,453 46,923
VAT - 68,480
Directors' loan accounts - 476
403,861 617,056
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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 102,892 127,589
Bounce Back Loan 19,067 29,100
Aiwocca CIBLS loan 68,021 164,013
189,980 320,702
9. Obligations Under Finance Leases and Hire Purchase
2024 2023
£ £
The future minimum finance lease payments are as follows:
Not later than one year - -
Later than one year and not later than five years 22,149 27,243
Later than five years 36,369 41,735
58,518 68,978
Less: Finance charges allocated to future periods (83,571 ) (113,717 )
142,089 182,695
10. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 2 2
11. Directors Advances, Credits and Guarantees
Included within Debtors are the following loans to directors:
The above loan is unsecured, interest free and repayable on demand.
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