Acorah Software Products - Accounts Production 16.3.350 false true 31 August 2023 1 September 2022 false 1 September 2023 31 August 2024 31 August 2024 NI626116 Mr Cathal Kelly Mr Ryan Kelly iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure NI626116 2023-08-31 NI626116 2024-08-31 NI626116 2023-09-01 2024-08-31 NI626116 frs-core:Non-currentFinancialInstruments 2024-08-31 NI626116 frs-core:BetweenOneFiveYears 2024-08-31 NI626116 frs-core:FurnitureFittings 2023-09-01 2024-08-31 NI626116 frs-core:MotorVehicles 2023-09-01 2024-08-31 NI626116 frs-core:PlantMachinery 2023-09-01 2024-08-31 NI626116 frs-core:WithinOneYear 2024-08-31 NI626116 frs-core:ShareCapital 2024-08-31 NI626116 frs-core:RetainedEarningsAccumulatedLosses 2024-08-31 NI626116 frs-bus:PrivateLimitedCompanyLtd 2023-09-01 2024-08-31 NI626116 frs-bus:AbridgedAccounts 2023-09-01 2024-08-31 NI626116 frs-bus:SmallEntities 2023-09-01 2024-08-31 NI626116 frs-bus:AuditExempt-NoAccountantsReport 2023-09-01 2024-08-31 NI626116 frs-bus:SmallCompaniesRegimeForAccounts 2023-09-01 2024-08-31 NI626116 frs-bus:Director1 2023-09-01 2024-08-31 NI626116 frs-bus:Director2 2023-09-01 2024-08-31 NI626116 frs-countries:NorthernIreland 2023-09-01 2024-08-31 NI626116 2022-08-31 NI626116 2023-08-31 NI626116 2022-09-01 2023-08-31 NI626116 frs-core:Non-currentFinancialInstruments 2023-08-31 NI626116 frs-core:BetweenOneFiveYears 2023-08-31 NI626116 frs-core:WithinOneYear 2023-08-31 NI626116 frs-core:ShareCapital 2023-08-31 NI626116 frs-core:RetainedEarningsAccumulatedLosses 2023-08-31
Registered number: NI626116
Ilex Car Sales Ltd
Unaudited ABRIDGED Financial Statements
For The Year Ended 31 August 2024
Contents
Page
Abridged Balance Sheet 1—2
Notes to the Abridged Financial Statements 3—4
Page 1
Abridged Balance Sheet
Registered number: NI626116
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 113,892 121,855
113,892 121,855
CURRENT ASSETS
Stocks 960,000 685,000
Debtors 108,021 77,919
Cash at bank and in hand 47,916 43,457
1,115,937 806,376
Creditors: Amounts Falling Due Within One Year (790,097 ) (539,273 )
NET CURRENT ASSETS (LIABILITIES) 325,840 267,103
TOTAL ASSETS LESS CURRENT LIABILITIES 439,732 388,958
Creditors: Amounts Falling Due After More Than One Year (39,109 ) (26,102 )
NET ASSETS 400,623 362,856
CAPITAL AND RESERVES
Called up share capital 6 4 4
Profit and Loss Account 400,619 362,852
SHAREHOLDERS' FUNDS 400,623 362,856
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For the year ending 31 August 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.
All of the company's members have consented to the preparation of an Abridged Profit and Loss Account and an Abridged Balance Sheet for the year end 31 August 2024 in accordance with section 444(2A) of the Companies Act 2006.
On behalf of the board
Mr Cathal Kelly
Director
Mr Ryan Kelly
Director
23 May 2025
The notes on pages 3 to 4 form part of these financial statements.
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Page 3
Notes to the Abridged Financial Statements
1. General Information
Ilex Car Sales Ltd is a private company, limited by shares, incorporated in Northern Ireland, registered number NI626116 . The registered office is 416 Ballyquin Road, Dungiven.
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.
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 20% reducing balance
Motor Vehicles 25% reducing balance
Fixtures & Fittings 20% 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. Taxation
The tax currently payable is based on taxable profit for the financial 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.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 9 (2023: 6)
9 6
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4. Tangible Assets
Total
£
Cost
As at 1 September 2023 294,818
Additions 49,739
Disposals (57,433 )
As at 31 August 2024 287,124
Depreciation
As at 1 September 2023 172,963
Provided during the period 25,211
Disposals (24,942 )
As at 31 August 2024 173,232
Net Book Value
As at 31 August 2024 113,892
As at 1 September 2023 121,855
5. Obligations Under Finance Leases and Hire Purchase
2024 2023
£ £
The future minimum finance lease payments are as follows:
Not later than one year 16,893 11,334
Later than one year and not later than five years 39,109 26,102
56,002 37,436
56,002 37,436
6. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 4 4
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