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 NI623839 Mr Philip Rex Morrow true iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure NI623839 2023-12-31 NI623839 2024-12-31 NI623839 2024-01-01 2024-12-31 NI623839 frs-core:CurrentFinancialInstruments 2024-12-31 NI623839 frs-core:PlantMachinery 2024-12-31 NI623839 frs-core:PlantMachinery 2024-01-01 2024-12-31 NI623839 frs-core:PlantMachinery 2023-12-31 NI623839 frs-core:ShareCapital 2024-12-31 NI623839 frs-core:RetainedEarningsAccumulatedLosses 2024-12-31 NI623839 frs-bus:PrivateLimitedCompanyLtd 2024-01-01 2024-12-31 NI623839 frs-bus:FilletedAccounts 2024-01-01 2024-12-31 NI623839 frs-bus:SmallEntities 2024-01-01 2024-12-31 NI623839 frs-bus:AuditExempt-NoAccountantsReport 2024-01-01 2024-12-31 NI623839 frs-bus:SmallCompaniesRegimeForAccounts 2024-01-01 2024-12-31 NI623839 1 2024-01-01 2024-12-31 NI623839 frs-bus:Director1 2024-01-01 2024-12-31 NI623839 frs-bus:Director1 2023-12-31 NI623839 frs-bus:Director1 2024-12-31 NI623839 frs-countries:NorthernIreland 2024-01-01 2024-12-31 NI623839 2022-12-31 NI623839 2023-12-31 NI623839 2023-01-01 2023-12-31 NI623839 frs-core:CurrentFinancialInstruments 2023-12-31 NI623839 frs-core:ShareCapital 2023-12-31 NI623839 frs-core:RetainedEarningsAccumulatedLosses 2023-12-31
Registered number: NI623839
PRM Developments Ltd
Unaudited Financial Statements
For The Year Ended 31 December 2024
McCleary & Company Ltd.
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: NI623839
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 147,485 192,700
Investment Properties 5 - 208,305
147,485 401,005
CURRENT ASSETS
Stocks 1,738,038 1,355,604
Debtors 6 235,825 22,722
1,973,863 1,378,326
Creditors: Amounts Falling Due Within One Year 7 (1,936,578 ) (1,585,850 )
NET CURRENT ASSETS (LIABILITIES) 37,285 (207,524 )
TOTAL ASSETS LESS CURRENT LIABILITIES 184,770 193,481
NET ASSETS 184,770 193,481
CAPITAL AND RESERVES
Called up share capital 8 10,001 10,001
Profit and Loss Account 174,769 183,480
SHAREHOLDERS' FUNDS 184,770 193,481
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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 member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his 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 Philip Rex Morrow
Director
9 April 2025
The notes on pages 3 to 5 form part of these financial statements.
Page 2
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Notes to the Financial Statements
1. General Information
PRM Developments Ltd is a private company, limited by shares, incorporated in Northern Ireland, registered number NI623839 . The registered office is Rathdown Road, Lissue Industrial Estate, Lisburn, BT28 2RE.
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 represents the total invoice value, excluding value added tax, of sales made during the year and derives from the provision of goods and services falling within the company's ordinary activities.
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% on cost
2.4. Investment Properties
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss. 
2.5. Stocks and Work in Progress
Work in progress is valued at the lower of cost and net realisable value. 
Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition. 
2.6. Foreign Currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.
2.7. Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.
Current or deferred taxation assets and liabilities are not discounted.
Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.
Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.
Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.
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2.8. Pensions
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 12 (2023: 12)
12 12
4. Tangible Assets
Plant & Machinery
£
Cost
As at 1 January 2024 312,325
Additions 1,495
Disposals (800 )
As at 31 December 2024 313,020
Depreciation
As at 1 January 2024 119,625
Provided during the period 46,710
Disposals (800 )
As at 31 December 2024 165,535
Net Book Value
As at 31 December 2024 147,485
As at 1 January 2024 192,700
5. Investment Property
2024
£
Fair Value
As at 1 January 2024 208,305
Disposals (208,305 )
As at 31 December 2024 -
6. Debtors
2024 2023
£ £
Due within one year
Trade debtors 234,268 22,721
Other debtors 1,557 1
235,825 22,722
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7. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 215,784 36,005
Bank loans and overdrafts 1,672,840 1,522,255
Other creditors 10,238 9,078
Taxation and social security 37,716 18,512
1,936,578 1,585,850
8. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 10,001 10,001
9. 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 Philip Morrow 1 - - - 1
Loan balances are repayable on demand.
10. Related Party Transactions
Sales to
Related
Parties
£
Purchases
from Related
Parties
£
Other Services
From Related
Parties
£
Loan Balances owed
to/ (by) PRM Developments
at the Year End
£
Trade Balances owed
to/ (by) PRM Developments
at the Year End
£
Transactions
with Other
Related Parties
1,154,598
581,075
103,934
-
218,269
11. Ultimate Controlling Party
The ultimate controlling party is the Director due to his equity shareholding in the company.
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