Acorah Software Products - Accounts Production 16.2.850 false true 31 December 2023 1 January 2023 false 1 January 2024 31 December 2024 31 December 2024 NI656439 Mr PAUL LUDLOW Mrs CAROL LUDLOW iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure NI656439 2023-12-31 NI656439 2024-12-31 NI656439 2024-01-01 2024-12-31 NI656439 frs-core:CurrentFinancialInstruments 2024-12-31 NI656439 frs-core:Non-currentFinancialInstruments 2024-12-31 NI656439 frs-core:FurnitureFittings 2024-12-31 NI656439 frs-core:FurnitureFittings 2024-01-01 2024-12-31 NI656439 frs-core:FurnitureFittings 2023-12-31 NI656439 frs-core:NetGoodwill 2024-12-31 NI656439 frs-core:NetGoodwill 2024-01-01 2024-12-31 NI656439 frs-core:NetGoodwill 2023-12-31 NI656439 frs-core:ShareCapital 2024-12-31 NI656439 frs-core:RetainedEarningsAccumulatedLosses 2024-12-31 NI656439 frs-bus:PrivateLimitedCompanyLtd 2024-01-01 2024-12-31 NI656439 frs-bus:FilletedAccounts 2024-01-01 2024-12-31 NI656439 frs-bus:SmallEntities 2024-01-01 2024-12-31 NI656439 frs-bus:AuditExempt-NoAccountantsReport 2024-01-01 2024-12-31 NI656439 frs-bus:SmallCompaniesRegimeForAccounts 2024-01-01 2024-12-31 NI656439 frs-bus:Director1 2024-01-01 2024-12-31 NI656439 frs-bus:Director2 2024-01-01 2024-12-31 NI656439 frs-countries:NorthernIreland 2024-01-01 2024-12-31 NI656439 2022-12-31 NI656439 2023-12-31 NI656439 2023-01-01 2023-12-31 NI656439 frs-core:CurrentFinancialInstruments 2023-12-31 NI656439 frs-core:Non-currentFinancialInstruments 2023-12-31 NI656439 frs-core:ShareCapital 2023-12-31 NI656439 frs-core:RetainedEarningsAccumulatedLosses 2023-12-31
Registered number: NI656439
P&C Ludlow Ltd
Unaudited Financial Statements
For The Year Ended 31 December 2024
Alan Hall Accountancy
7 Dunseark Road
Dungannon
Co Tyrone
BT71 7PH
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: NI656439
2024 2023
Notes £ £ £ £
FIXED ASSETS
Intangible Assets 4 147,927 184,908
Tangible Assets 5 22,162 63,210
170,089 248,118
CURRENT ASSETS
Stocks 94,717 105,076
Debtors 6 80,099 73,257
Cash at bank and in hand 426,678 460,660
601,494 638,993
Creditors: Amounts Falling Due Within One Year 7 (346,680 ) (358,483 )
NET CURRENT ASSETS (LIABILITIES) 254,814 280,510
TOTAL ASSETS LESS CURRENT LIABILITIES 424,903 528,628
Creditors: Amounts Falling Due After More Than One Year 8 (38,100 ) (104,759 )
PROVISIONS FOR LIABILITIES
Deferred Taxation (2,800 ) (12,400 )
NET ASSETS 384,003 411,469
CAPITAL AND RESERVES
Called up share capital 10 100 100
Profit and Loss Account 383,903 411,369
SHAREHOLDERS' FUNDS 384,003 411,469
Page 1
Page 2
For the year ending 31 December 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 PAUL LUDLOW
Director
Mrs CAROL LUDLOW
Director
04/03/2025
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
P&C Ludlow Ltd is a private company, limited by shares, incorporated in Northern Ireland, registered number NI656439 . The registered office is 66 Breagh Lodge, Portadown, Co Armagh, BT63 5YN.
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.
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 10 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:
Fixtures & Fittings On a straight line basis over 6 years.
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. 
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: 20 (2023: 20)
20 20
Page 3
Page 4
4. Intangible Assets
Goodwill
£
Cost
As at 1 January 2024 377,062
As at 31 December 2024 377,062
Amortisation
As at 1 January 2024 192,154
Provided during the period 36,981
As at 31 December 2024 229,135
Net Book Value
As at 31 December 2024 147,927
As at 1 January 2024 184,908
5. Tangible Assets
Fixtures & Fittings
£
Cost
As at 1 January 2024 284,735
Additions 2,698
As at 31 December 2024 287,433
Depreciation
As at 1 January 2024 221,525
Provided during the period 43,746
As at 31 December 2024 265,271
Net Book Value
As at 31 December 2024 22,162
As at 1 January 2024 63,210
6. Debtors
2024 2023
£ £
Due within one year
Trade debtors 10,452 7,797
Other debtors 69,647 65,460
80,099 73,257
Page 4
Page 5
7. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 171,692 143,216
Other creditors 39,068 100,334
Taxation and social security 135,920 114,933
346,680 358,483
8. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Other creditors 38,100 104,759
9. Secured Creditors
Of the creditors the following amounts are secured.
2024 2023
£ £
Other Creditors - 111,222
10. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 100 100
11. Contingent Liabilities
2024 2023
£ £
At the end of the period 76,200 63,500
The company had contingent liabilities in respect of obligation to repay contribution received if certain conditions are not met.
Page 5