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Registered number: 03428445
Autopa Limited
Unaudited Financial Statements
For The Year Ended 31 December 2024
Welf Accountants Limited
Pure Offices
Wilton Drive
Warwick
Warwickshire
CV34 6RG
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—6
Page 1
Balance Sheet
Registered number: 03428445
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 5 180,402 187,048
Investments 6 2 2
180,404 187,050
CURRENT ASSETS
Stocks 534,739 532,241
Debtors 7 574,889 536,434
Cash at bank and in hand 514,681 699,662
1,624,309 1,768,337
Creditors: Amounts Falling Due Within One Year 8 (622,362 ) (620,575 )
NET CURRENT ASSETS (LIABILITIES) 1,001,947 1,147,762
TOTAL ASSETS LESS CURRENT LIABILITIES 1,182,351 1,334,812
Creditors: Amounts Falling Due After More Than One Year 9 (65,960 ) (88,713 )
PROVISIONS FOR LIABILITIES
Deferred Taxation (40,460 ) (41,791 )
NET ASSETS 1,075,931 1,204,308
CAPITAL AND RESERVES
Called up share capital 70,000 70,000
Capital redemption reserve 152,000 152,000
Profit and Loss Account 853,931 982,308
SHAREHOLDERS' FUNDS 1,075,931 1,204,308
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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 Andrew Murray
Director
22/04/2025
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
Autopa Limited is a private company, limited by shares, incorporated in England & Wales, registered number 03428445 . The registered office is Cottage Leap, Butlers Leap, Rugby, Warwickshire, CV21 3XP.
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.
The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.
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.
2.3. Intangible Fixed Assets and Amortisation - Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 1998, is being amortised evenly over its estimated useful life of fourteen 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:
Leasehold 20% Straight line
Plant & Machinery 20% Straight line
Motor Vehicles 25% Straight line
Computer Equipment 33.3% Straight line
2.5. Leasing and Hire Purchase Contracts
Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessees. All other leases are classified as operating leases.
Assets held under finance leases are recognised as assets at the lower of the assets fair value at the date of inception and the present value of the minimum lease payments. The related liability is included in the balance sheet as a finance lease obligation. Lease payments are treated as consisting of capital and interest elements. The interest is charged to profit or loss so as to produce a constant periodic rate of interest on the remaining balance of the liability.
Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the leases asset are consumed.
2.6. Stocks and Work in Progress
tocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition. At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.
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2.7. Financial Instruments
The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments. 
Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.
Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.
Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.
Classification of financial liabilities
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 company after deducting all of its liabilities.
Basic financial liabilities
Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.
Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.
2.8. Taxation
The tax expense represents the sum of the tax currently payable and deferred tax.
Current tax
The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes 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 reporting end date.
Deferred tax
Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.
2.9. Research and development expenditure
Research expenditure is written off against profits in the year in which it is incurred. Identifiable development expenditure is capitalised to the extent that the technical, commercial and financial feasibility can be demonstrated.
2.10. Fixed asset investments
Investments in subsidiary undertakings are recognised at cost.
2.11. Impairment of fixed assets
At each reporting period end date, the company reviews the carrying amounts of its tangible and intangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 32 (2023: 31)
32 31
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Page 5
4. Intangible Assets
Goodwill
£
Cost
As at 1 January 2024 452,730
As at 31 December 2024 452,730
Amortisation
As at 1 January 2024 452,730
As at 31 December 2024 452,730
Net Book Value
As at 31 December 2024 -
As at 1 January 2024 -
5. Tangible Assets
Land & Property
Leasehold Plant & Machinery Motor Vehicles Computer Equipment Total
£ £ £ £ £
Cost
As at 1 January 2024 64,743 756,360 30,310 119,633 971,046
Additions - 10,000 - 35,889 45,889
As at 31 December 2024 64,743 766,360 30,310 155,522 1,016,935
Depreciation
As at 1 January 2024 64,743 569,312 30,310 119,633 783,998
Provided during the period - 44,197 - 8,338 52,535
As at 31 December 2024 64,743 613,509 30,310 127,971 836,533
Net Book Value
As at 31 December 2024 - 152,851 - 27,551 180,402
As at 1 January 2024 - 187,048 - - 187,048
6. Investments
Subsidiaries
£
Cost
As at 1 January 2024 2
As at 31 December 2024 2
Provision
As at 1 January 2024 -
As at 31 December 2024 -
Net Book Value
As at 31 December 2024 2
As at 1 January 2024 2
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7. Debtors
2024 2023
£ £
Due within one year
Trade debtors 551,212 511,566
Other debtors 20,006 21,197
Corporation tax recoverable assets 3,671 3,671
574,889 536,434
8. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 306,366 290,536
Corporation tax 107,871 122,810
Other taxes and social security 150,623 158,388
Other creditors 57,502 48,841
622,362 620,575
9. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Other creditors 65,960 88,713
Included within other creditors due within one year and due after one year, is a loan for £88,069 (2023 £110,178) secured with a mortgage of chattels by way of fixed charge over certain items of plant and machinery.
10. Other Commitments
At the reporting end date the company had outstanding commitments for future minimum lease payments under non-cancellable operating leases, as follows:
2024 2023
£ £
Not later than one year 6,935 6,935
Later than one year and not later than five years 5,779 12,714
12,714 19,649
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