Acorah Software Products - Accounts Production 16.2.850 false true 30 September 2023 1 October 2022 false 1 October 2023 30 September 2024 30 September 2024 05249430 Mr Paul Nagington Mrs Valerie Nagington iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 05249430 2023-09-30 05249430 2024-09-30 05249430 2023-10-01 2024-09-30 05249430 frs-core:CurrentFinancialInstruments 2024-09-30 05249430 frs-core:Non-currentFinancialInstruments 2024-09-30 05249430 frs-core:ComputerEquipment 2024-09-30 05249430 frs-core:ComputerEquipment 2023-10-01 2024-09-30 05249430 frs-core:ComputerEquipment 2023-09-30 05249430 frs-core:FurnitureFittings 2024-09-30 05249430 frs-core:FurnitureFittings 2023-10-01 2024-09-30 05249430 frs-core:FurnitureFittings 2023-09-30 05249430 frs-core:LandBuildings frs-core:LeasedAssetsHeldAsLessee 2024-09-30 05249430 frs-core:LandBuildings frs-core:LeasedAssetsHeldAsLessee 2023-10-01 2024-09-30 05249430 frs-core:LandBuildings frs-core:LeasedAssetsHeldAsLessee 2023-09-30 05249430 frs-core:PlantMachinery 2023-10-01 2024-09-30 05249430 frs-core:ShareCapital 2024-09-30 05249430 frs-core:RetainedEarningsAccumulatedLosses 2024-09-30 05249430 frs-bus:PrivateLimitedCompanyLtd 2023-10-01 2024-09-30 05249430 frs-bus:FilletedAccounts 2023-10-01 2024-09-30 05249430 frs-bus:SmallEntities 2023-10-01 2024-09-30 05249430 frs-bus:AuditExempt-NoAccountantsReport 2023-10-01 2024-09-30 05249430 frs-bus:SmallCompaniesRegimeForAccounts 2023-10-01 2024-09-30 05249430 frs-bus:Director1 2023-10-01 2024-09-30 05249430 frs-bus:CompanySecretary1 2023-10-01 2024-09-30 05249430 frs-core:CurrentFinancialInstruments 1 2024-09-30 05249430 frs-core:Non-currentFinancialInstruments 1 2024-09-30 05249430 frs-core:CurrentFinancialInstruments 4 2024-09-30 05249430 frs-core:CurrentFinancialInstruments 5 2024-09-30 05249430 frs-countries:EnglandWales 2023-10-01 2024-09-30 05249430 2022-09-30 05249430 2023-09-30 05249430 2022-10-01 2023-09-30 05249430 frs-core:CurrentFinancialInstruments 2023-09-30 05249430 frs-core:Non-currentFinancialInstruments 2023-09-30 05249430 frs-core:ShareCapital 2023-09-30 05249430 frs-core:RetainedEarningsAccumulatedLosses 2023-09-30 05249430 frs-core:CurrentFinancialInstruments 1 2023-09-30 05249430 frs-core:Non-currentFinancialInstruments 1 2023-09-30 05249430 frs-core:CurrentFinancialInstruments 4 2023-09-30 05249430 frs-core:CurrentFinancialInstruments 5 2023-09-30
Registered number: 05249430
P D Nagington Motor Engineers Limited
Unaudited Financial Statements
For The Year Ended 30 September 2024
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 05249430
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 46,617 53,206
46,617 53,206
CURRENT ASSETS
Stocks 5 216,494 207,643
Debtors 6 58,843 124,907
Cash at bank and in hand 13,679 35,620
289,016 368,170
Creditors: Amounts Falling Due Within One Year 7 (325,312 ) (384,698 )
NET CURRENT ASSETS (LIABILITIES) (36,296 ) (16,528 )
TOTAL ASSETS LESS CURRENT LIABILITIES 10,321 36,678
Creditors: Amounts Falling Due After More Than One Year 8 (11,294 ) (53,583 )
PROVISIONS FOR LIABILITIES
Deferred Taxation (8,857 ) (10,109 )
NET LIABILITIES (9,830 ) (27,014 )
CAPITAL AND RESERVES
Called up share capital 9 100 100
Profit and Loss Account (9,930 ) (27,114 )
SHAREHOLDERS' FUNDS (9,830) (27,014)
Page 1
Page 2
For the year ending 30 September 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his 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 Nagington
Director
09/04/2025
The notes on pages 3 to 5 form part of these financial statements.
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Page 3
Notes to the Financial Statements
1. General Information
P D Nagington Motor Engineers Limited is a private company, limited by shares, incorporated in England & Wales, registered number 05249430 . The registered office is 74 Cheshire Street, Market Drayton, Shropshire, TF9 3AA.
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:
Land & Property 10% Reducing Balance
Plant & Machinery 15% Reducing Balance
Fixtures & Fittings 15% Reducing Balance
Plant & Machinery 15% Reducing Balance
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 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.
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3. Average Number of Employees
Average number of employees, including directors, during the year was: 23 (2023: 18)
23 18
4. Tangible Assets
Land & Property
Land & Property Fixtures & Fittings Plant & Machinery Total
£ £ £ £
Cost
As at 1 October 2023 121,675 2,134 141,588 265,397
As at 30 September 2024 121,675 2,134 141,588 265,397
Depreciation
As at 1 October 2023 93,819 1,652 116,720 212,191
Provided during the period 2,786 72 3,731 6,589
As at 30 September 2024 96,605 1,724 120,451 218,780
Net Book Value
As at 30 September 2024 25,070 410 21,137 46,617
As at 1 October 2023 27,856 482 24,868 53,206
5. Stocks
2024 2023
£ £
Finished goods 201,759 197,831
Work in progress 14,735 9,812
216,494 207,643
6. Debtors
2024 2023
£ £
Due within one year
Trade debtors 4,450 12,099
Director's loan account 54,393 112,808
58,843 124,907
7. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 174,080 174,084
Bank loans and overdrafts 54,583 39,178
Corporation tax 5,283 7,776
Other taxes and social security 2,200 7,305
VAT 54,712 109,465
Net wages - 6,373
Other creditors - 1,968
Barclaycard 9,263 9,217
Deposits Held 6,352 5,102
...CONTINUED
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Page 5
EBT Loan 16,864 16,864
Accruals and deferred income 1,975 7,366
325,312 384,698
8. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Bank loans 7,131 32,546
EBT Loan (Long Term) 4,163 21,037
11,294 53,583
9. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 100 100
Page 5