Acorah Software Products - Accounts Production 16.3.350 false true 31 December 2023 1 January 2023 false 1 January 2024 31 December 2024 31 December 2024 05294979 Mr Michael Jarrold Mr Gareth Bartlett-Smith iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 05294979 2023-12-31 05294979 2024-12-31 05294979 2024-01-01 2024-12-31 05294979 frs-core:CurrentFinancialInstruments 2024-12-31 05294979 frs-core:Non-currentFinancialInstruments 2024-12-31 05294979 frs-core:BetweenOneFiveYears 2024-12-31 05294979 frs-core:ComputerEquipment 2024-12-31 05294979 frs-core:ComputerEquipment 2024-01-01 2024-12-31 05294979 frs-core:ComputerEquipment 2023-12-31 05294979 frs-core:NetGoodwill 2024-12-31 05294979 frs-core:NetGoodwill 2024-01-01 2024-12-31 05294979 frs-core:NetGoodwill 2023-12-31 05294979 frs-core:LandBuildings frs-core:OwnedOrFreeholdAssets 2024-12-31 05294979 frs-core:LandBuildings frs-core:OwnedOrFreeholdAssets 2024-01-01 2024-12-31 05294979 frs-core:LandBuildings frs-core:OwnedOrFreeholdAssets 2023-12-31 05294979 frs-core:MotorVehicles 2024-12-31 05294979 frs-core:MotorVehicles 2024-01-01 2024-12-31 05294979 frs-core:MotorVehicles 2023-12-31 05294979 frs-core:PlantMachinery 2024-12-31 05294979 frs-core:PlantMachinery 2024-01-01 2024-12-31 05294979 frs-core:PlantMachinery 2023-12-31 05294979 frs-core:WithinOneYear 2024-12-31 05294979 frs-core:CapitalRedemptionReserve 2024-12-31 05294979 frs-core:ShareCapital 2024-12-31 05294979 frs-core:RetainedEarningsAccumulatedLosses 2024-12-31 05294979 frs-bus:PrivateLimitedCompanyLtd 2024-01-01 2024-12-31 05294979 frs-bus:FilletedAccounts 2024-01-01 2024-12-31 05294979 frs-bus:SmallEntities 2024-01-01 2024-12-31 05294979 frs-bus:AuditExempt-NoAccountantsReport 2024-01-01 2024-12-31 05294979 frs-bus:SmallCompaniesRegimeForAccounts 2024-01-01 2024-12-31 05294979 frs-bus:Director1 2024-01-01 2024-12-31 05294979 frs-bus:Director1 2023-12-31 05294979 frs-bus:Director1 2024-12-31 05294979 frs-bus:Director2 2024-01-01 2024-12-31 05294979 frs-bus:Director2 2023-12-31 05294979 frs-bus:Director2 2024-12-31 05294979 frs-countries:EnglandWales 2024-01-01 2024-12-31 05294979 2022-12-31 05294979 2023-12-31 05294979 2023-01-01 2023-12-31 05294979 frs-core:CurrentFinancialInstruments 2023-12-31 05294979 frs-core:Non-currentFinancialInstruments 2023-12-31 05294979 frs-core:BetweenOneFiveYears 2023-12-31 05294979 frs-core:WithinOneYear 2023-12-31 05294979 frs-core:CapitalRedemptionReserve 2023-12-31 05294979 frs-core:ShareCapital 2023-12-31 05294979 frs-core:RetainedEarningsAccumulatedLosses 2023-12-31
Registered number: 05294979
Paul Jarrold Tyres Limited
Unaudited Financial Statements
For The Year Ended 31 December 2024
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—6
Page 1
Balance Sheet
Registered number: 05294979
2024 2023
Notes £ £ £ £
FIXED ASSETS
Intangible Assets 4 - 2,500
Tangible Assets 5 144,190 120,316
144,190 122,816
CURRENT ASSETS
Stocks 6 435,256 438,097
Debtors 7 462,143 669,082
Cash at bank and in hand 29,048 103
926,447 1,107,282
Creditors: Amounts Falling Due Within One Year 8 (715,869 ) (788,273 )
NET CURRENT ASSETS (LIABILITIES) 210,578 319,009
TOTAL ASSETS LESS CURRENT LIABILITIES 354,768 441,825
Creditors: Amounts Falling Due After More Than One Year 9 (21,620 ) (27,429 )
PROVISIONS FOR LIABILITIES
Deferred Taxation (32,962 ) (25,783 )
NET ASSETS 300,186 388,613
CAPITAL AND RESERVES
Called up share capital 12 35 35
Capital redemption reserve 65 65
Profit and Loss Account 300,086 388,513
SHAREHOLDERS' FUNDS 300,186 388,613
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For the year ending 31 December 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 Michael Jarrold
Director
03/06/2025
The notes on pages 3 to 6 form part of these financial statements.
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Notes to the Financial Statements
1. General Information
Paul Jarrold Tyres Limited is a private company, limited by shares, incorporated in England & Wales, registered number 05294979 . The registered office is Unit 2 Wonastow Road Industrial Estate (West), Monmouthshire, NP25 5JA.
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. Intangible Fixed Assets and Amortisation - Goodwill
Goodwill is the difference between amounts paid on the acquisition of a business and the fair value of the separable net assets. It is amortised to profit and loss account over its estimated economic life of 4 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 2% straight line
Plant & Machinery 15% straight line
Motor Vehicles 25% straight line
Computer Equipment 25% straight line
2.5. 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.
2.6. 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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2.7. 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 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: 26 (2023: 29)
26 29
4. Intangible Assets
Goodwill
£
Cost
As at 1 January 2024 50,000
As at 31 December 2024 50,000
Amortisation
As at 1 January 2024 47,500
Provided during the period 2,500
As at 31 December 2024 50,000
Net Book Value
As at 31 December 2024 -
As at 1 January 2024 2,500
5. Tangible Assets
Land & Property
Freehold Plant & Machinery Motor Vehicles Computer Equipment Total
£ £ £ £ £
Cost
As at 1 January 2024 45,266 314,774 171,535 6,310 537,885
Additions 8,990 54,883 - - 63,873
As at 31 December 2024 54,256 369,657 171,535 6,310 601,758
...CONTINUED
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Depreciation
As at 1 January 2024 10,798 282,844 117,617 6,310 417,569
Provided during the period 905 13,741 25,353 - 39,999
As at 31 December 2024 11,703 296,585 142,970 6,310 457,568
Net Book Value
As at 31 December 2024 42,553 73,072 28,565 - 144,190
As at 1 January 2024 34,468 31,930 53,918 - 120,316
6. Stocks
2024 2023
£ £
Stock 435,256 438,097
7. Debtors
2024 2023
£ £
Due within one year
Trade debtors 328,124 476,133
Amounts recoverable on contracts 8,847 19,110
Other debtors 125,172 173,839
462,143 669,082
8. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Net obligations under finance lease and hire purchase contracts 23,405 19,240
Trade creditors 526,817 491,691
Bank loans and overdrafts 10,000 143,571
Other creditors 32,040 8,834
Taxation and social security 123,607 124,937
715,869 788,273
9. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Net obligations under finance lease and hire purchase contracts 14,120 9,929
Bank loans 7,500 17,500
21,620 27,429
10. Secured Creditors
Of the creditors the following amounts are secured.
2024 2023
£ £
Bank loans and overdrafts 17,500 152,811
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11. Obligations Under Finance Leases and Hire Purchase
2024 2023
£ £
The future minimum finance lease payments are as follows:
Not later than one year 23,405 19,240
Later than one year and not later than five years 14,120 9,929
37,525 29,169
37,525 29,169
12. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 35 35
13. Directors Advances, Credits and Guarantees
Included within Debtors are the following loans to directors:
As at 1 January 2024 Amounts advanced Amounts repaid Amounts written off As at 31 December 2024
£ £ £ £ £
Mr Michael Jarrold 51,785 85,464 82,840 - 54,561
Mr Gareth Bartlett-Smith 44,545 33,840 45,000 - 33,385
The above loan is unsecured, interest free and repayable on demand.
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