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Registered number: 01381950
Birford Cable & Harness Limited
Unaudited Financial Statements
For The Year Ended 31 December 2024
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—7
Page 1
Balance Sheet
Registered number: 01381950
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 5 359,893 177,617
359,893 177,617
CURRENT ASSETS
Stocks 6 515,754 644,565
Debtors 7 763,359 800,573
Cash at bank and in hand 520,696 599,489
1,799,809 2,044,627
Creditors: Amounts Falling Due Within One Year 8 (450,634 ) (530,945 )
NET CURRENT ASSETS (LIABILITIES) 1,349,175 1,513,682
TOTAL ASSETS LESS CURRENT LIABILITIES 1,709,068 1,691,299
PROVISIONS FOR LIABILITIES
Deferred Taxation 11 (81,826 ) (44,405 )
NET ASSETS 1,627,242 1,646,894
CAPITAL AND RESERVES
Called up share capital 12 100 100
Profit and Loss Account 1,627,142 1,646,794
SHAREHOLDERS' FUNDS 1,627,242 1,646,894
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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 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 Christopher Wase
Director
27 March 2025
The notes on pages 3 to 7 form part of these financial statements.
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Notes to the Financial Statements
1. General Information
Birford Cable & Harness Limited is a private company, limited by shares, incorporated in England & Wales, registered number 01381950 . The registered office is 3 Cullwick Street, Wolverhampton, West Midlands, WV1 2UL.
The financial statements are presented in pound sterling and rounded to the nearest whole £.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements are prepared under the historical cost convention and in accordance with the FRS 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 comprises the invoiced value of goods supplied by the company, net of Value Added Tax and trade discounts.
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.
2.4. Tangible Fixed Assets and Depreciation
Tangible fixed assets are stated at cost less depreciation. 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:
Freehold 2% straight line
Leasehold 10% straight line
Plant & Machinery 12.5/20% straight line
Motor Vehicles 25/30% straight line
Fixtures & Fittings 10/20% straight line
2.5. Leasing and Hire Purchase Contracts
Assets obtained under hire purchase contracts and 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.
2.6. 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.
2.7. Financial Instruments
Derivative financial instruments are recognised at fair value using a valuation technique with any gains or losses being reported in the profit and loss account. Outstanding derivatives at the reporting date are included under the appropriate format heading depending on the nature of the derivative.
The company does not currently apply hedge accounting for foreign exchange derivatives.
2.8. Foreign Currencies
Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet 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.
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2.9. 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.
2.10. Pensions
The company operates a defined pension contribution scheme. Contributions are charged to the profit and loss account as they become payable in accordance with the rules of the scheme.
2.11. Government Grant
Government grants are recognised in the profit and loss account 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 profit and loss account. Grants towards general activities of the entity over a specific period are recognised in the profit and loss account 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 profit and loss account over the useful life of the asset concerned.
All grants in the profit and loss account are recognised when all conditions for receipt have been complied with.
2.12. Revenue Recognition
Revenue is measured at fair value of the consideration received or receivable net of value aded tax, trade discount and customer returns. Revenue from the sale of goods is recognised when the risks and rewards of ownership have passed to the customer.
3. Average Number of Employees
Average number of employees, including directors, during the year was as follows:
2024 2023
Office and administration 13 13
Sales, marketing and distribution 2 2
Manufacturing 25 27
40 42
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4. Intangible Assets
Goodwill
£
Cost
As at 1 January 2024 10,000
As at 31 December 2024 10,000
Amortisation
As at 1 January 2024 10,000
As at 31 December 2024 10,000
Net Book Value
As at 31 December 2024 -
As at 1 January 2024 -
5. Tangible Assets
Plant & Machinery
£
Cost
As at 1 January 2024 655,034
Additions 239,341
Disposals (17,045 )
As at 31 December 2024 877,330
Depreciation
As at 1 January 2024 477,417
Provided during the period 49,369
Disposals (9,349 )
As at 31 December 2024 517,437
Net Book Value
As at 31 December 2024 359,893
As at 1 January 2024 177,617
6. Stocks
2024 2023
£ £
Stock 515,754 644,565
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7. Debtors
2024 2023
£ £
Due within one year
Trade debtors 701,326 759,130
Prepayments and accrued income 49,658 29,068
Other debtors 9,375 9,375
Other financial assets 3,000 3,000
763,359 800,573
8. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Net obligations under finance lease and hire purchase contracts - 21,433
Trade creditors 320,568 264,594
Bank loans and overdrafts - 17,651
Taxation and social security 23,638 90,542
VAT 57,591 72,495
Other creditors 22,277 32,259
Accruals and deferred income 26,560 31,971
450,634 530,945
9. Secured Creditors
Of the creditors the following amounts are secured.
2024 2023
£ £
Bank loans and overdrafts - 17,651
10. Obligations Under Finance Leases and Hire Purchase
2024 2023
£ £
The future minimum finance lease payments are as follows:
Not later than one year - 21,433
11. Deferred Taxation
The provision for deferred taxation is made up of accelerated capital allowances.
2024 2023
£ £
Other timing differences 81,826 44,405
12. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 100 100
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13. Foreign Currency Risk
All financial assets and liabilities are measured at amortised cost.
The company is exposed to currency exchange rate risk due to part of its operating income and expenditure being denominated in foreign currencies. The exposure is monitored and managed by the use of forward foreign exchange contracts.
The company had open forward foreign exchange contracts at the reporting date of the current period. The fair value of the derivatives is recognised within debtors as 'other financial assets'.
14. Other Commitments
The total of future minimum lease payments under non-cancellable operating leases are as following:
2024 2023
£ £
Not later than one year 27,747 27,747
Later than one year and not later than five years 9,288 37,035
37,035 64,782
15. Pension Commitments
The company operates a defined contribution pension scheme for its employees. The assets of the scheme are held separately from those of the company in an independently administered fund. At the balance sheet date unpaid contributions of £4,391 (2023: £4,104) were due to the fund. They are included in Other Creditors.
16. Related Party Transactions
Included within other creditors is a balance of £10,296 (2023: £11,729) owed to connected companies.
Included within other debtors is a balance of £9,375 (2023: £9,375) owed by connected companies.
17. Parent Undertaking and Controlling Party
The company's immediate and parent undertaking is CDW Holdings Limited , a company incorporated in England & Wales. The parent company has taken advantage of the exemptions provided by section 398 of the Companies Act 2006 not to prepare group accounts. 
The ultimate controlling party is the shareholders in the parent company.
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