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Registered number: 08618302
Kevin Winchester Electrical Limited
Unaudited Financial Statements
For The Year Ended 31 July 2024
Tiltman's
19 Napier House
Elva Way
Bexhill-on-Sea
East Sussex
TN39 5BF
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—6
Page 1
Balance Sheet
Registered number: 08618302
2024 2023
Notes £ £ £ £
FIXED ASSETS
Intangible Assets 4 4,500 5,000
Tangible Assets 5 26,278 12,902
30,778 17,902
CURRENT ASSETS
Stocks 6 18,000 24,000
Debtors 7 684 634
Cash at bank and in hand 15,226 21,071
33,910 45,705
Creditors: Amounts Falling Due Within One Year 8 (42,128 ) (45,969 )
NET CURRENT ASSETS (LIABILITIES) (8,218 ) (264 )
TOTAL ASSETS LESS CURRENT LIABILITIES 22,560 17,638
Creditors: Amounts Falling Due After More Than One Year 9 (20,798 ) (15,250 )
PROVISIONS FOR LIABILITIES
Deferred Taxation (6,570 ) (3,226 )
NET LIABILITIES (4,808 ) (838 )
CAPITAL AND RESERVES
Called up share capital 11 100 100
Profit and Loss Account (4,908 ) (938 )
SHAREHOLDERS' FUNDS (4,808) (838)
Page 1
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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
K L Winchester
Director
29 April 2025
The notes on pages 3 to 6 form part of these financial statements.
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Notes to the Financial Statements
1. General Information
Kevin Winchester Electrical Limited is a private company, limited by shares, incorporated in England & Wales, registered number 08618302 . The registered office is 19 Napier House, Elva Way, Bexhill on Sea, East Sussex, TN39 5BF.
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. Going Concern Disclosure
The directors have not identified any material uncertainties related to events or conditions that may cast significant doubt about the company's ability to continue as a going concern.
Although the company is in a net liability position, the company continues to receive financial support of the directors, and as such the going concern basis of accounting remains appropriate.
2.3. 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.
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.
2.4. 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 twenty years.
2.5. 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 15% reducing balance
Motor Vehicles 25% reducing balance
Fixtures & Fittings 15% reducing balance
Computer Equipment 33% reducing balance
2.6. 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.
2.7. 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.
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2.8. 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.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 2 (2023: 2)
2 2
4. Intangible Assets
Goodwill
£
Cost
As at 1 August 2023 10,000
As at 31 July 2024 10,000
Amortisation
As at 1 August 2023 5,000
Provided during the period 500
As at 31 July 2024 5,500
Net Book Value
As at 31 July 2024 4,500
As at 1 August 2023 5,000
5. Tangible Assets
Plant & Machinery Motor Vehicles Fixtures & Fittings Computer Equipment Total
£ £ £ £ £
Cost
As at 1 August 2023 2,223 19,376 666 4,129 26,394
Additions - 32,958 - - 32,958
Disposals - (19,376 ) - - (19,376 )
As at 31 July 2024 2,223 32,958 666 4,129 39,976
Depreciation
As at 1 August 2023 1,493 8,478 185 3,336 13,492
...CONTINUED
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Provided during the period 110 8,240 72 262 8,684
Disposals - (8,478 ) - - (8,478 )
As at 31 July 2024 1,603 8,240 257 3,598 13,698
Net Book Value
As at 31 July 2024 620 24,718 409 531 26,278
As at 1 August 2023 730 10,898 481 793 12,902
6. Stocks
2024 2023
£ £
Stock 18,000 24,000
7. Debtors
2024 2023
£ £
Due within one year
Trade debtors 624 634
Other debtors 60 -
684 634
8. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Net obligations under finance lease and hire purchase contracts 2,386 -
Trade creditors 3,417 9,063
Bank loans and overdrafts 17,530 19,132
Other creditors 3,083 2,040
Taxation and social security 15,712 15,734
42,128 45,969
9. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Net obligations under finance lease and hire purchase contracts 13,780 -
Bank loans 7,018 15,250
20,798 15,250
10. Obligations Under Finance Leases and Hire Purchase
2024 2023
£ £
The future minimum finance lease payments are as follows:
Not later than one year 2,386 -
Later than one year and not later than five years 13,780 -
16,166 -
16,166 -
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11. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 100 100
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