Acorah Software Products - Accounts Production 16.2.850 false true 31 July 2023 1 August 2022 false 1 August 2023 31 July 2024 31 July 2024 NI069829 Mrs Eleanor Andrews Mr Andrew Leighfield Mr Andrew Leighfield iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure NI069829 2023-07-31 NI069829 2024-07-31 NI069829 2023-08-01 2024-07-31 NI069829 frs-core:CurrentFinancialInstruments 2024-07-31 NI069829 frs-core:Non-currentFinancialInstruments 2024-07-31 NI069829 frs-core:BetweenOneFiveYears 2024-07-31 NI069829 frs-core:FurnitureFittings 2024-07-31 NI069829 frs-core:FurnitureFittings 2023-08-01 2024-07-31 NI069829 frs-core:FurnitureFittings 2023-07-31 NI069829 frs-core:NetGoodwill 2023-08-01 2024-07-31 NI069829 frs-core:MotorVehicles 2024-07-31 NI069829 frs-core:MotorVehicles 2023-08-01 2024-07-31 NI069829 frs-core:MotorVehicles 2023-07-31 NI069829 frs-core:ShareCapital 2024-07-31 NI069829 frs-core:RetainedEarningsAccumulatedLosses 2024-07-31 NI069829 frs-bus:PrivateLimitedCompanyLtd 2023-08-01 2024-07-31 NI069829 frs-bus:FilletedAccounts 2023-08-01 2024-07-31 NI069829 frs-bus:SmallEntities 2023-08-01 2024-07-31 NI069829 frs-bus:AuditExempt-NoAccountantsReport 2023-08-01 2024-07-31 NI069829 frs-bus:SmallCompaniesRegimeForAccounts 2023-08-01 2024-07-31 NI069829 frs-bus:Director1 2023-08-01 2024-07-31 NI069829 frs-bus:Director2 2023-08-01 2024-07-31 NI069829 frs-bus:CompanySecretary1 2023-08-01 2024-07-31 NI069829 frs-countries:NorthernIreland 2023-08-01 2024-07-31 NI069829 2022-07-31 NI069829 2023-07-31 NI069829 2022-08-01 2023-07-31 NI069829 frs-core:CurrentFinancialInstruments 2023-07-31 NI069829 frs-core:Non-currentFinancialInstruments 2023-07-31 NI069829 frs-core:BetweenOneFiveYears 2023-07-31 NI069829 frs-core:ShareCapital 2023-07-31 NI069829 frs-core:RetainedEarningsAccumulatedLosses 2023-07-31
Registered number: NI069829
AMA Compressed Air Specialists Limited
Unaudited Financial Statements
For The Year Ended 31 July 2024
Allen Fleming CA Limited
Chartered Accountants & Chartered Tax Advisors
161-163 Upper Lisburn Road
Finaghy
Belfast
BT10 0LJ
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—6
Page 1
Balance Sheet
Registered number: NI069829
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 78,942 73,694
78,942 73,694
CURRENT ASSETS
Stocks 5 142,275 92,275
Debtors 6 345,202 322,289
Cash at bank and in hand 72,867 31,138
560,344 445,702
Creditors: Amounts Falling Due Within One Year 7 (309,536 ) (173,237 )
NET CURRENT ASSETS (LIABILITIES) 250,808 272,465
TOTAL ASSETS LESS CURRENT LIABILITIES 329,750 346,159
Creditors: Amounts Falling Due After More Than One Year 8 (7,325 ) (7,325 )
PROVISIONS FOR LIABILITIES
Deferred Taxation (19,736 ) (16,950 )
NET ASSETS 302,689 321,884
CAPITAL AND RESERVES
Called up share capital 10 500 500
Profit and Loss Account 302,189 321,384
SHAREHOLDERS' FUNDS 302,689 321,884
Page 1
Page 2
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
Mr Andrew Leighfield
Director
29 April 2025
The notes on pages 3 to 6 form part of these financial statements.
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Page 3
Notes to the Financial Statements
1. General Information
AMA Compressed Air Specialists Limited is a private company, limited by shares, incorporated in Northern Ireland, registered number NI069829 . The registered office is 87-89 Ravenhill Road, Belfast, BT6 8DQ.
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 Financial Reporting Standard for Smaller Entities (effective January 2015).
2.2. Turnover
Turnover comprises the invoiced value of goods and services 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 of 10 years.
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:
Motor Vehicles 25% reducing balance
Fixtures & Fittings 25% reducing balance
2.5. 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.
2.6. 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.
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2.7. 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: 12 (2023: 10)
12 10
4. Tangible Assets
Motor Vehicles Fixtures & Fittings Total
£ £ £
Cost
As at 1 August 2023 160,559 37,263 197,822
Additions - 24,700 24,700
As at 31 July 2024 160,559 61,963 222,522
Depreciation
As at 1 August 2023 97,805 26,323 124,128
Provided during the period 16,717 2,735 19,452
As at 31 July 2024 114,522 29,058 143,580
Net Book Value
As at 31 July 2024 46,037 32,905 78,942
As at 1 August 2023 62,754 10,940 73,694
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5. Stocks
2024 2023
£ £
Stock 142,275 92,275
6. Debtors
2024 2023
£ £
Due within one year
Trade debtors 174,711 159,655
Prepayments and accrued income 11,433 9,505
VAT 5,929 -
Amounts owed by other participating interests 153,129 153,129
345,202 322,289
7. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 210,481 101,706
Corporation tax 36,632 36,440
Other taxes and social security 30,267 17,674
VAT - 6,502
Other creditors 20,000 -
Accruals and deferred income 11,307 10,408
Directors' loan accounts 849 507
309,536 173,237
8. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Net obligations under finance lease and hire purchase contracts 7,325 7,325
9. Obligations Under Finance Leases and Hire Purchase
2024 2023
£ £
The future minimum finance lease payments are as follows:
Later than one year and not later than five years 7,325 7,325
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10. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 500 500
Page 6