Acorah Software Products - Accounts Production 16.3.350 false true 30 November 2023 1 December 2022 false 1 December 2023 30 November 2024 30 November 2024 12320283 Mr P C Spinks Mr C B Sweet Mr B I Dreney Vogt Mr S Kulik iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 12320283 2023-11-30 12320283 2024-11-30 12320283 2023-12-01 2024-11-30 12320283 frs-core:CurrentFinancialInstruments 2024-11-30 12320283 frs-core:Non-currentFinancialInstruments 2024-11-30 12320283 frs-core:BetweenOneFiveYears 2024-11-30 12320283 frs-core:ComputerEquipment 2024-11-30 12320283 frs-core:ComputerEquipment 2023-12-01 2024-11-30 12320283 frs-core:ComputerEquipment 2023-11-30 12320283 frs-core:MotorVehicles 2024-11-30 12320283 frs-core:MotorVehicles 2023-12-01 2024-11-30 12320283 frs-core:MotorVehicles 2023-11-30 12320283 frs-core:PlantMachinery 2024-11-30 12320283 frs-core:PlantMachinery 2023-12-01 2024-11-30 12320283 frs-core:PlantMachinery 2023-11-30 12320283 frs-core:WithinOneYear 2024-11-30 12320283 frs-core:ShareCapital 2024-11-30 12320283 frs-core:RetainedEarningsAccumulatedLosses 2024-11-30 12320283 frs-bus:PrivateLimitedCompanyLtd 2023-12-01 2024-11-30 12320283 frs-bus:FilletedAccounts 2023-12-01 2024-11-30 12320283 frs-bus:SmallEntities 2023-12-01 2024-11-30 12320283 frs-bus:AuditExempt-NoAccountantsReport 2023-12-01 2024-11-30 12320283 frs-bus:SmallCompaniesRegimeForAccounts 2023-12-01 2024-11-30 12320283 frs-bus:Director1 2023-12-01 2024-11-30 12320283 frs-bus:Director2 2023-12-01 2024-11-30 12320283 frs-bus:Director3 2023-12-01 2024-11-30 12320283 frs-bus:Director4 2023-12-01 2024-11-30 12320283 frs-countries:EnglandWales 2023-12-01 2024-11-30 12320283 2022-11-30 12320283 2023-11-30 12320283 2022-12-01 2023-11-30 12320283 frs-core:CurrentFinancialInstruments 2023-11-30 12320283 frs-core:Non-currentFinancialInstruments 2023-11-30 12320283 frs-core:BetweenOneFiveYears 2023-11-30 12320283 frs-core:WithinOneYear 2023-11-30 12320283 frs-core:ShareCapital 2023-11-30 12320283 frs-core:RetainedEarningsAccumulatedLosses 2023-11-30
Registered number: 12320283
We-Fab Ltd
Financial Statements
For The Year Ended 30 November 2024
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 12320283
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 133,711 168,678
133,711 168,678
CURRENT ASSETS
Stocks 5 - 8,280
Debtors 6 177,519 271,600
Cash at bank and in hand 244,979 134,097
422,498 413,977
Creditors: Amounts Falling Due Within One Year 7 (332,459 ) (296,301 )
NET CURRENT ASSETS (LIABILITIES) 90,039 117,676
TOTAL ASSETS LESS CURRENT LIABILITIES 223,750 286,354
Creditors: Amounts Falling Due After More Than One Year 8 (200,344 ) (265,247 )
NET ASSETS 23,406 21,107
CAPITAL AND RESERVES
Called up share capital 10 100 100
Profit and Loss Account 23,306 21,007
SHAREHOLDERS' FUNDS 23,406 21,107
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For the year ending 30 November 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 C B Sweet
Director
22 April 2025
The notes on pages 3 to 5 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
We-Fab Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 12320283 . The registered office is 550 Valley Road, Nottingham, NG5 1JJ.
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 25% Reducing balance
Motor Vehicles 20% Reducing balance
Computer Equipment 25% Reducing balance
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.
2.6. 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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2.7. 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. 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. The carrying amount of deferred tax assets is reviewed at the end of each reporting period.
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.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 8 (2023: 9)
8 9
4. Tangible Assets
Plant & Machinery Motor Vehicles Computer Equipment Total
£ £ £ £
Cost
As at 1 December 2023 50,300 168,880 13,169 232,349
As at 30 November 2024 50,300 168,880 13,169 232,349
Depreciation
As at 1 December 2023 32,238 24,802 6,631 63,671
Provided during the period 4,516 28,816 1,635 34,967
As at 30 November 2024 36,754 53,618 8,266 98,638
Net Book Value
As at 30 November 2024 13,546 115,262 4,903 133,711
As at 1 December 2023 18,062 144,078 6,538 168,678
5. Stocks
2024 2023
£ £
Work in progress - 8,280
6. Debtors
2024 2023
£ £
Due within one year
Trade debtors 100,204 182,943
Prepayments and accrued income 75,072 75,679
VAT 2,243 12,978
177,519 271,600
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7. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Net obligations under finance lease and hire purchase contracts 24,347 24,347
Trade creditors 134,855 149,792
Bank loans and overdrafts 100,555 40,555
Corporation tax 11,670 -
Other taxes and social security 1,313 16,262
Other creditors 9,117 14,743
Directors' loan accounts 50,602 50,602
332,459 296,301
8. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Net obligations under finance lease and hire purchase contracts 90,762 115,109
Bank loans 109,582 150,138
200,344 265,247
9. Obligations Under Finance Leases and Hire Purchase
2024 2023
£ £
The future minimum finance lease payments are as follows:
Not later than one year 24,347 24,347
Later than one year and not later than five years 90,762 115,109
115,109 139,456
115,109 139,456
10. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 100 100
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