Acorah Software Products - Accounts Production 16.2.850 false true 31 January 2024 1 February 2023 false 1 February 2024 31 January 2025 31 January 2025 03673473 Mrs Ann Hammond Mr Antony Hammond Mr Neil Hammond iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 03673473 2024-01-31 03673473 2025-01-31 03673473 2024-02-01 2025-01-31 03673473 frs-core:CurrentFinancialInstruments 2025-01-31 03673473 frs-core:Non-currentFinancialInstruments 2025-01-31 03673473 frs-core:BetweenOneFiveYears 2025-01-31 03673473 frs-core:ComputerEquipment 2025-01-31 03673473 frs-core:ComputerEquipment 2024-02-01 2025-01-31 03673473 frs-core:ComputerEquipment 2024-01-31 03673473 frs-core:MotorVehicles 2025-01-31 03673473 frs-core:MotorVehicles 2024-02-01 2025-01-31 03673473 frs-core:MotorVehicles 2024-01-31 03673473 frs-core:PlantMachinery 2025-01-31 03673473 frs-core:PlantMachinery 2024-02-01 2025-01-31 03673473 frs-core:PlantMachinery 2024-01-31 03673473 frs-core:WithinOneYear 2025-01-31 03673473 frs-core:ShareCapital 2025-01-31 03673473 frs-core:RetainedEarningsAccumulatedLosses 2025-01-31 03673473 frs-bus:PrivateLimitedCompanyLtd 2024-02-01 2025-01-31 03673473 frs-bus:FilletedAccounts 2024-02-01 2025-01-31 03673473 frs-bus:SmallEntities 2024-02-01 2025-01-31 03673473 frs-bus:AuditExempt-NoAccountantsReport 2024-02-01 2025-01-31 03673473 frs-bus:SmallCompaniesRegimeForAccounts 2024-02-01 2025-01-31 03673473 frs-bus:Director1 2024-02-01 2025-01-31 03673473 frs-bus:Director2 2024-02-01 2025-01-31 03673473 frs-bus:Director3 2024-02-01 2025-01-31 03673473 frs-countries:EnglandWales 2024-02-01 2025-01-31 03673473 2023-01-31 03673473 2024-01-31 03673473 2023-02-01 2024-01-31 03673473 frs-core:CurrentFinancialInstruments 2024-01-31 03673473 frs-core:Non-currentFinancialInstruments 2024-01-31 03673473 frs-core:BetweenOneFiveYears 2024-01-31 03673473 frs-core:WithinOneYear 2024-01-31 03673473 frs-core:ShareCapital 2024-01-31 03673473 frs-core:RetainedEarningsAccumulatedLosses 2024-01-31
Registered number: 03673473
Prior Products Limited
Unaudited Financial Statements
For The Year Ended 31 January 2025
Chadwick Accountants & Bookkeepers Ltd
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 03673473
2025 2024
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 176,203 194,635
176,203 194,635
CURRENT ASSETS
Stocks 5 86,743 130,696
Debtors 6 305,615 270,299
Cash at bank and in hand 305,051 406,155
697,409 807,150
Creditors: Amounts Falling Due Within One Year 7 (182,628 ) (234,418 )
NET CURRENT ASSETS (LIABILITIES) 514,781 572,732
TOTAL ASSETS LESS CURRENT LIABILITIES 690,984 767,367
Creditors: Amounts Falling Due After More Than One Year 8 (4,139 ) (19,516 )
PROVISIONS FOR LIABILITIES
Provisions For Charges (27,360 ) (27,360 )
Deferred Taxation (44,088 ) (48,659 )
NET ASSETS 615,397 671,832
CAPITAL AND RESERVES
Called up share capital 10 1,998 1,998
Profit and Loss Account 613,399 669,834
SHAREHOLDERS' FUNDS 615,397 671,832
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For the year ending 31 January 2025 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
Mrs Ann Hammond
Director
17/04/2025
The notes on pages 3 to 5 form part of these financial statements.
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Notes to the Financial Statements
1. General Information
Prior Products Limited is a private company, limited by shares, incorporated in England & Wales, registered number 03673473 . The registered office is Avon View Offices, 90 High Street, Bidford-on-Avon, B50 4AF.
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:
Plant & Machinery 15% Reducing Balance
Motor Vehicles 25% Reducing Balance
Computer Equipment 3 year straight line
2.4. 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.
2.5. 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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2.6. 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: 21 (2024: 21)
21 21
4. Tangible Assets
Plant & Machinery Motor Vehicles Computer Equipment Total
£ £ £ £
Cost
As at 1 February 2024 350,649 171,114 56,618 578,381
Additions 2,114 15,741 5,436 23,291
Disposals - (11,990 ) - (11,990 )
As at 31 January 2025 352,763 174,865 62,054 589,682
Depreciation
As at 1 February 2024 223,615 112,055 48,076 383,746
Provided during the period 19,315 15,473 5,651 40,439
Disposals - (10,706 ) - (10,706 )
As at 31 January 2025 242,930 116,822 53,727 413,479
Net Book Value
As at 31 January 2025 109,833 58,043 8,327 176,203
As at 1 February 2024 127,034 59,059 8,542 194,635
5. Stocks
2025 2024
£ £
Stock 86,743 130,696
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6. Debtors
2025 2024
£ £
Due within one year
Trade debtors 72,525 44,785
Other debtors 22,104 14,817
94,629 59,602
Due after more than one year
Other debtors 210,986 210,697
305,615 270,299
7. Creditors: Amounts Falling Due Within One Year
2025 2024
£ £
Net obligations under finance lease and hire purchase contracts 26,999 38,952
Trade creditors 6,671 57,067
Other creditors 15,608 38,215
Taxation and social security 133,350 100,184
182,628 234,418
8. Creditors: Amounts Falling Due After More Than One Year
2025 2024
£ £
Net obligations under finance lease and hire purchase contracts 4,139 19,516
9. Obligations Under Finance Leases and Hire Purchase
2025 2024
£ £
The future minimum finance lease payments are as follows:
Not later than one year 26,999 38,952
Later than one year and not later than five years 4,139 19,516
31,138 58,468
31,138 58,468
10. Share Capital
2025 2024
£ £
Allotted, Called up and fully paid 1,998 1,998
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