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Registered number: 11981355
Auto Works Repair Ltd
Unaudited Financial Statements
For The Year Ended 31 May 2024
Calculayte Ltd
Old Dock House
90 Watery Lane
Preston
Lancashire
PR2 1AU
Contents
Page
Statement of Financial Position 1—2
Statement of Changes in Equity 3
Notes to the Financial Statements 4—6
Page 1
Statement of Financial Position
Registered number: 11981355
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 13,655 23,662
13,655 23,662
CURRENT ASSETS
Stocks 17,510 12,710
Debtors 5 10,831 27,219
Cash at bank and in hand 16,390 3,376
44,731 43,305
Creditors: Amounts Falling Due Within One Year 6 (122,921 ) (110,583 )
NET CURRENT ASSETS (LIABILITIES) (78,190 ) (67,278 )
TOTAL ASSETS LESS CURRENT LIABILITIES (64,535 ) (43,616 )
Creditors: Amounts Falling Due After More Than One Year 7 (10,835 ) (20,834 )
NET LIABILITIES (75,370 ) (64,450 )
CAPITAL AND RESERVES
Called up share capital 100 2
Income Statement (75,470 ) (64,452 )
SHAREHOLDERS' FUNDS (75,370) (64,450)
Page 1
Page 2
For the year ending 31 May 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
Mr N M Alwan
Director
27 May 2025
The notes on pages 4 to 6 form part of these financial statements.
Page 2
Page 3
Statement of Changes in Equity
Share Capital Income Statement Total
£ £ £
As at 1 June 2022 2 (48,947 ) (48,945)
Loss for the year and total comprehensive income - (15,505 ) (15,505)
As at 31 May 2023 and 1 June 2023 2 (64,452 ) (64,450)
Loss for the year and total comprehensive income - (11,018 ) (11,018)
Arising on shares issued during the period 98 - 98
As at 31 May 2024 100 (75,470 ) (75,370)
Page 3
Page 4
Notes to the Financial Statements
1. General Information
Auto Works Repair Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 11981355 . The registered office is Unit 6 Chadwick Street, Blackburn, BB2 4AA.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared on the historical costs basis. 
The financial statements are prepared in sterling, which is the functional currency of the company.
Statement of Compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'. 
2.2. Going Concern Disclosure
Despite the fact that liabilities exceeded assets at 31 May 2024, the Directors are of the opinion that sufficient funding is available to the Company to enable it to meet its own liabilities as and when they fall due. The accounts have therefore been prepared on a going concern basis.
2.3. 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.
2.4. Tangible Fixed Assets and Depreciation
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses.

Depreciation

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Plant & Machinery 25% straight line
Fixtures & Fittings 20% straight line
Computer Equipment 25% straight line
2.5. Stocks and Work in Progress
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, cost of coversion and other costs incurred in bringing the stock to its present location and condition.
2.6. Financial Instruments
A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument.
Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.
Debt instruments are subsequently measured at amortised costs.
Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in the profit or loss immediately.
The company only has basic financial instruments.
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Page 5
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 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 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.
2.8. Provisions
Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense.
Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. 
2.9. Operating Leases
Lease payments are recognised as an expense over the lease term on a straight-line basis. The aggregate benefit of the lease incentives is recognised as a reduction to expense over the lease term, on a straight-line basis.
3. Average Number of Employees
The average number of persons employed by the company during the period, including directors amounted to: 4 (2023: 4)
4 4
4. Tangible Assets
Plant & Machinery Fixtures & Fittings Computer Equipment Total
£ £ £ £
Cost
As at 1 June 2023 23,798 24,080 2,447 50,325
Additions 1,566 - - 1,566
As at 31 May 2024 25,364 24,080 2,447 51,891
Depreciation
As at 1 June 2023 10,742 15,212 709 26,663
Provided during the period 6,146 4,816 611 11,573
As at 31 May 2024 16,888 20,028 1,320 38,236
Net Book Value
As at 31 May 2024 8,476 4,052 1,127 13,655
As at 1 June 2023 13,056 8,868 1,738 23,662
Page 5
Page 6
5. Debtors
2024 2023
£ £
Due within one year
Trade debtors 6,049 24,280
Other debtors 4,782 2,939
10,831 27,219
6. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 30,561 41,131
Bank loans and overdrafts 10,000 10,000
Other taxes and social security 14,881 17,661
Other creditors 67,479 41,791
122,921 110,583
7. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Bank loans 10,835 20,834
8. Other Commitments
The total of future minimum lease payments under non-cancellable operating leases are as following:
2024 2023
£ £
Not later than one year 18,000 18,000
18,000 18,000
Page 6