Acorah Software Products - Accounts Production 16.2.850 false true 31 August 2023 1 September 2022 false 1 September 2023 31 August 2024 31 August 2024 02772147 Frances Wild Michael Wild Emma Wild iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 02772147 2023-08-31 02772147 2024-08-31 02772147 2023-09-01 2024-08-31 02772147 frs-core:CurrentFinancialInstruments 2024-08-31 02772147 frs-core:Non-currentFinancialInstruments 2024-08-31 02772147 frs-core:ComputerEquipment 2023-09-01 2024-08-31 02772147 frs-core:DevelopmentCostsCapitalisedDevelopmentExpenditure 2023-09-01 2024-08-31 02772147 frs-core:FurnitureFittings 2024-08-31 02772147 frs-core:FurnitureFittings 2023-09-01 2024-08-31 02772147 frs-core:FurnitureFittings 2023-08-31 02772147 frs-core:LandBuildings frs-core:OwnedOrFreeholdAssets 2024-08-31 02772147 frs-core:LandBuildings frs-core:OwnedOrFreeholdAssets 2023-09-01 2024-08-31 02772147 frs-core:LandBuildings frs-core:OwnedOrFreeholdAssets 2023-08-31 02772147 frs-core:MotorVehicles 2024-08-31 02772147 frs-core:MotorVehicles 2023-09-01 2024-08-31 02772147 frs-core:MotorVehicles 2023-08-31 02772147 frs-core:OtherResidualIntangibleAssets 2024-08-31 02772147 frs-core:OtherResidualIntangibleAssets 2023-09-01 2024-08-31 02772147 frs-core:OtherResidualIntangibleAssets 2023-08-31 02772147 frs-core:PlantMachinery 2024-08-31 02772147 frs-core:PlantMachinery 2023-09-01 2024-08-31 02772147 frs-core:PlantMachinery 2023-08-31 02772147 frs-core:CapitalRedemptionReserve 2024-08-31 02772147 frs-core:RevaluationReserve 2023-08-31 02772147 frs-core:RevaluationReserve 2024-08-31 02772147 frs-core:ShareCapital 2024-08-31 02772147 frs-core:RetainedEarningsAccumulatedLosses 2024-08-31 02772147 frs-bus:PrivateLimitedCompanyLtd 2023-09-01 2024-08-31 02772147 frs-bus:FilletedAccounts 2023-09-01 2024-08-31 02772147 frs-bus:SmallEntities 2023-09-01 2024-08-31 02772147 frs-bus:AuditExempt-NoAccountantsReport 2023-09-01 2024-08-31 02772147 frs-bus:SmallCompaniesRegimeForAccounts 2023-09-01 2024-08-31 02772147 frs-bus:Director1 2023-09-01 2024-08-31 02772147 frs-bus:Director2 2023-09-01 2024-08-31 02772147 frs-bus:Director3 2023-09-01 2024-08-31 02772147 frs-countries:EnglandWales 2023-09-01 2024-08-31 02772147 2022-08-31 02772147 2023-08-31 02772147 2022-09-01 2023-08-31 02772147 frs-core:CurrentFinancialInstruments 2023-08-31 02772147 frs-core:Non-currentFinancialInstruments 2023-08-31 02772147 frs-core:CapitalRedemptionReserve 2023-08-31 02772147 frs-core:RevaluationReserve 2023-08-31 02772147 frs-core:ShareCapital 2023-08-31 02772147 frs-core:RetainedEarningsAccumulatedLosses 2023-08-31
Registered number: 02772147
M.W. (Polymer Products) Limited
Financial Statements
For The Year Ended 31 August 2024
Contents
Page
Statement of Financial Position 1—2
Notes to the Financial Statements 3—5
Page 1
Statement of Financial Position
Registered number: 02772147
2024 2023
Notes £ £ £ £
FIXED ASSETS
Intangible Assets 4 48,570 51,134
Tangible Assets 5 696,960 682,647
745,530 733,781
CURRENT ASSETS
Stocks 6 115,231 29,823
Debtors 7 94,776 91,042
Cash at bank and in hand 44,684 83,093
254,691 203,958
Creditors: Amounts Falling Due Within One Year 8 (104,200 ) (132,617 )
NET CURRENT ASSETS (LIABILITIES) 150,491 71,341
TOTAL ASSETS LESS CURRENT LIABILITIES 896,021 805,122
Creditors: Amounts Falling Due After More Than One Year 9 (440,102 ) (458,779 )
PROVISIONS FOR LIABILITIES
Deferred Taxation (15,263 ) (10,555 )
NET ASSETS 440,656 335,788
CAPITAL AND RESERVES
Called up share capital 10 950 950
Revaluation reserve 11 87,346 87,346
Capital redemption reserve 50 50
Income Statement 352,310 247,442
SHAREHOLDERS' FUNDS 440,656 335,788
Page 1
Page 2
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 Income Statement.
On behalf of the board
Frances Wild
Director
Michael Wild
Director
Emma Wild
Director
28/05/2025
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
M.W. (Polymer Products) Limited is a private company, limited by shares, incorporated in England & Wales, registered number 02772147 . The registered office is The Sidings, Duffield Road Industrial Estate, Little Eaton, Derbyshire, DE21 5EG.
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.
2.3. Intangible Fixed Assets and Amortisation - Other Intangible
Other intangible assets are trademarks and patents. They are amortised to over their estimated economic life of 20 years.
2.4. 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:
Freehold No depreciation
Plant & Machinery 15% reducing balance
Motor Vehicles 25% reducing balance
Fixtures & Fittings 15% reducing balance
Computer Equipment 33% reducing balance
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 statement of financial position 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.
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.
...CONTINUED
Page 3
Page 4
2.7. Taxation - continued
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: 14 (2023: 14)
14 14
4. Intangible Assets
Other
£
Cost
As at 1 September 2023 60,055
As at 31 August 2024 60,055
Amortisation
As at 1 September 2023 8,921
Provided during the period 2,564
As at 31 August 2024 11,485
Net Book Value
As at 31 August 2024 48,570
As at 1 September 2023 51,134
5. Tangible Assets
Land & Property
Freehold Plant & Machinery Motor Vehicles Fixtures & Fittings Total
£ £ £ £ £
Cost
As at 1 September 2023 620,515 162,724 6,295 74,400 863,934
Additions - 36,580 - 2,318 38,898
Disposals - (106,175 ) - (34,552 ) (140,727 )
As at 31 August 2024 620,515 93,129 6,295 42,166 762,105
Depreciation
As at 1 September 2023 - 112,876 4,801 63,610 181,287
Provided during the period - 11,652 374 1,638 13,664
Disposals - (97,424 ) - (32,382 ) (129,806 )
As at 31 August 2024 - 27,104 5,175 32,866 65,145
Net Book Value
As at 31 August 2024 620,515 66,025 1,120 9,300 696,960
As at 1 September 2023 620,515 49,848 1,494 10,790 682,647
Page 4
Page 5
6. Stocks
2024 2023
£ £
Stock 115,231 29,823
7. Debtors
2024 2023
£ £
Due within one year
Trade debtors 70,433 62,898
Other debtors 24,343 28,144
94,776 91,042
8. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 28,974 54,218
Bank loans and overdrafts 51,493 45,874
Other creditors 13,413 14,443
Taxation and social security 10,320 18,082
104,200 132,617
9. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Bank loans 440,102 458,779
10. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 950 950
11. Reserves
Revaluation Reserve
£
As at 1 September 2023 87,346
As at 31 August 2024 87,346
Page 5