Acorah Software Products - Accounts Production 16.3.350 false true 24 February 2024 25 February 2023 false 25 February 2024 24 February 2025 24 February 2025 07959438 Mrs M Simkins Mr S Biden Mr D Stanley Mr K Simkins Mrs M Simkins iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 07959438 2024-02-24 07959438 2025-02-24 07959438 2024-02-25 2025-02-24 07959438 frs-core:CurrentFinancialInstruments 2025-02-24 07959438 frs-core:Non-currentFinancialInstruments 2025-02-24 07959438 frs-core:BetweenOneFiveYears 2025-02-24 07959438 frs-core:ComputerEquipment 2025-02-24 07959438 frs-core:ComputerEquipment 2024-02-25 2025-02-24 07959438 frs-core:ComputerEquipment 2024-02-24 07959438 frs-core:MotorVehicles 2025-02-24 07959438 frs-core:MotorVehicles 2024-02-25 2025-02-24 07959438 frs-core:MotorVehicles 2024-02-24 07959438 frs-core:PlantMachinery 2025-02-24 07959438 frs-core:PlantMachinery 2024-02-25 2025-02-24 07959438 frs-core:PlantMachinery 2024-02-24 07959438 frs-core:WithinOneYear 2025-02-24 07959438 frs-core:ShareCapital 2025-02-24 07959438 frs-core:RetainedEarningsAccumulatedLosses 2025-02-24 07959438 frs-bus:PrivateLimitedCompanyLtd 2024-02-25 2025-02-24 07959438 frs-bus:FilletedAccounts 2024-02-25 2025-02-24 07959438 frs-bus:SmallEntities 2024-02-25 2025-02-24 07959438 frs-bus:AuditExempt-NoAccountantsReport 2024-02-25 2025-02-24 07959438 frs-bus:SmallCompaniesRegimeForAccounts 2024-02-25 2025-02-24 07959438 frs-bus:Director1 2024-02-25 2025-02-24 07959438 frs-bus:Director1 2024-02-24 07959438 frs-bus:Director1 2025-02-24 07959438 frs-bus:Director2 2024-02-25 2025-02-24 07959438 frs-bus:Director3 2024-02-25 2025-02-24 07959438 frs-bus:Director4 2024-02-25 2025-02-24 07959438 frs-bus:CompanySecretary1 2024-02-25 2025-02-24 07959438 frs-countries:EnglandWales 2024-02-25 2025-02-24 07959438 2023-02-24 07959438 2024-02-24 07959438 2023-02-25 2024-02-24 07959438 frs-core:CurrentFinancialInstruments 2024-02-24 07959438 frs-core:Non-currentFinancialInstruments 2024-02-24 07959438 frs-core:BetweenOneFiveYears 2024-02-24 07959438 frs-core:WithinOneYear 2024-02-24 07959438 frs-core:ShareCapital 2024-02-24 07959438 frs-core:RetainedEarningsAccumulatedLosses 2024-02-24
Registered number: 07959438
Exact Construction Limited
Financial Statements
For The Year Ended 24 February 2025
Affinity Associates (AU) Limited
Office 43, The Cobalt Building
1600 Eureka Park, Lower Pemberton
Ashford
Kent
TN25 4BF
Contents
Page
Statement of Financial Position 1—2
Notes to the Financial Statements 3—5
Page 1
Statement of Financial Position
Registered number: 07959438
2025 2024
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 127,597 152,678
127,597 152,678
CURRENT ASSETS
Stocks 5 12,000 10,450
Debtors 6 1,047,793 1,018,921
Cash at bank and in hand 116,015 61,739
1,175,808 1,091,110
Creditors: Amounts Falling Due Within One Year 7 (553,726 ) (494,183 )
NET CURRENT ASSETS (LIABILITIES) 622,082 596,927
TOTAL ASSETS LESS CURRENT LIABILITIES 749,679 749,605
Creditors: Amounts Falling Due After More Than One Year 8 (82,016 ) (101,469 )
NET ASSETS 667,663 648,136
CAPITAL AND RESERVES
Called up share capital 10 100 100
Income Statement 667,563 648,036
SHAREHOLDERS' FUNDS 667,663 648,136
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For the year ending 24 February 2025 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 K Simkins
Director
4 June 2025
The notes on pages 3 to 5 form part of these financial statements.
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Notes to the Financial Statements
1. General Information
Exact Construction Limited is a private company, limited by shares, incorporated in England & Wales, registered number 07959438 . The registered office is Office 43, The Cobalt Building 1600 Eureka Park, Lower Pemberton, Ashford, Kent, TN25 4BF.
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. 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% straight line basis
Motor Vehicles 20% - 25% straight line basis
Furniture & Computer Equipment 20% straight line basis
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 income statement 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 income statement 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
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.
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2.7. Government Grant
Government grants are recognised in the income statement in an appropriate manner that matches them with the expenditure towards which they are intended to contribute.
Grants for immediate financial support or to cover costs already incurred are recognised immediately in the income statement. Grants towards general activities of the entity over a specific period are recognised in the income statement over that period.
Grants towards fixed assets are recognised over the expected useful lives of the related assets and are treated as deferred income and released to the income statement over the useful life of the asset concerned.
All grants in the income statement are recognised when all conditions for receipt have been complied with.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 18 (2024: 27)
18 27
4. Tangible Assets
Plant & Machinery Motor Vehicles Furniture & Computer Equipment Total
£ £ £ £
Cost
As at 25 February 2024 12,027 167,081 78,858 257,966
Additions 875 3,500 15,853 20,228
Disposals - (8,000 ) - (8,000 )
As at 24 February 2025 12,902 162,581 94,711 270,194
Depreciation
As at 25 February 2024 7,722 55,294 42,272 105,288
Provided during the period 1,564 24,830 13,715 40,109
Disposals - (2,800 ) - (2,800 )
As at 24 February 2025 9,286 77,324 55,987 142,597
Net Book Value
As at 24 February 2025 3,616 85,257 38,724 127,597
As at 25 February 2024 4,305 111,787 36,586 152,678
5. Stocks
2025 2024
£ £
Stock 12,000 10,450
6. Debtors
2025 2024
£ £
Due within one year
Trade debtors 331,566 378,193
Amounts owed by participating interests 242,074 225,825
Other debtors 474,153 414,903
1,047,793 1,018,921
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7. Creditors: Amounts Falling Due Within One Year
2025 2024
£ £
Net obligations under finance lease and hire purchase contracts 14,454 14,454
Trade creditors 150,280 104,773
Bank loans and overdrafts 5,000 5,000
Amounts owed to participating interests - 59,676
Other creditors 284,191 211,009
Taxation and social security 99,801 99,271
553,726 494,183
8. Creditors: Amounts Falling Due After More Than One Year
2025 2024
£ £
Net obligations under finance lease and hire purchase contracts 55,766 70,219
Bank loans 26,250 31,250
82,016 101,469
9. Obligations Under Finance Leases and Hire Purchase
2025 2024
£ £
The future minimum finance lease payments are as follows:
Not later than one year 14,454 14,454
Later than one year and not later than five years 55,766 70,219
70,220 84,673
70,220 84,673
10. Share Capital
2025 2024
£ £
Allotted, Called up and fully paid 100 100
11. Directors Advances, Credits and Guarantees
Included within Debtors are the following loans to directors:
As at 25 February 2024 Amounts advanced Amounts repaid Amounts written off As at 24 February 2025
£ £ £ £ £
Mr Kevin Simkins 4,056 189,909 169,200 - 24,765
The above loan is unsecured, interest free and repayable on demand.
12. Related Party Transactions
During the year the company loaned funds to Exact Windows Limited. At the Balance Sheet date the company was owed £41,472 (2024 - (£59,676)).
During the year the company loaned funds to Exact Group Limited. At the Balance Sheet date the company was owed £200,602 (2024 - £221,785). 
Mr K Simkins is director and shareholder for the above named companies.
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