Acorah Software Products - Accounts Production 16.3.350 false true true 30 September 2023 1 October 2022 false 1 October 2023 30 September 2024 30 September 2024 10868013 Mr P W Meredith Mr M O'Brien Mr J P Wilson Mr N W Connolly Mr C P Jones iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 10868013 2023-09-30 10868013 2024-09-30 10868013 2023-10-01 2024-09-30 10868013 frs-core:CurrentFinancialInstruments 2024-09-30 10868013 frs-core:Non-currentFinancialInstruments 2024-09-30 10868013 frs-core:BetweenOneFiveYears 2024-09-30 10868013 frs-core:MotorVehicles 2024-09-30 10868013 frs-core:MotorVehicles 2023-10-01 2024-09-30 10868013 frs-core:MotorVehicles 2023-09-30 10868013 frs-core:PlantMachinery 2024-09-30 10868013 frs-core:PlantMachinery 2023-10-01 2024-09-30 10868013 frs-core:PlantMachinery 2023-09-30 10868013 frs-core:WithinOneYear 2024-09-30 10868013 frs-core:ShareCapital 2024-09-30 10868013 frs-core:RetainedEarningsAccumulatedLosses 2024-09-30 10868013 frs-bus:PrivateLimitedCompanyLtd 2023-10-01 2024-09-30 10868013 frs-bus:FilletedAccounts 2023-10-01 2024-09-30 10868013 frs-bus:SmallEntities 2023-10-01 2024-09-30 10868013 frs-bus:AuditExempt-NoAccountantsReport 2023-10-01 2024-09-30 10868013 frs-bus:SmallCompaniesRegimeForAccounts 2023-10-01 2024-09-30 10868013 frs-bus:Director1 2023-10-01 2024-09-30 10868013 frs-bus:Director2 2023-10-01 2024-09-30 10868013 frs-bus:Director2 2023-09-30 10868013 frs-bus:Director2 2024-09-30 10868013 frs-bus:Director3 2023-10-01 2024-09-30 10868013 frs-bus:Director4 2023-10-01 2024-09-30 10868013 frs-bus:Director4 2023-09-30 10868013 frs-bus:Director4 2024-09-30 10868013 frs-bus:Director5 2023-10-01 2024-09-30 10868013 frs-countries:EnglandWales 2023-10-01 2024-09-30 10868013 2022-09-30 10868013 2023-09-30 10868013 2022-10-01 2023-09-30 10868013 frs-core:CurrentFinancialInstruments 2023-09-30 10868013 frs-core:Non-currentFinancialInstruments 2023-09-30 10868013 frs-core:BetweenOneFiveYears 2023-09-30 10868013 frs-core:MotorVehicles 2022-10-01 2023-09-30 10868013 frs-core:WithinOneYear 2023-09-30 10868013 frs-core:ShareCapital 2023-09-30 10868013 frs-core:RetainedEarningsAccumulatedLosses 2023-09-30
Registered number: 10868013
Abbey Group Industrial Services Limited
Unaudited Financial Statements
For The Year Ended 30 September 2024
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—6
Page 1
Balance Sheet
Registered number: 10868013
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 33,981 42,477
33,981 42,477
CURRENT ASSETS
Stocks 5 4,500 18,000
Debtors 6 1,780,838 1,606,085
Cash at bank and in hand 36,272 34,606
1,821,610 1,658,691
Creditors: Amounts Falling Due Within One Year 7 (1,798,091 ) (1,599,006 )
NET CURRENT ASSETS (LIABILITIES) 23,519 59,685
TOTAL ASSETS LESS CURRENT LIABILITIES 57,500 102,162
Creditors: Amounts Falling Due After More Than One Year 8 (31,446 ) (75,489 )
PROVISIONS FOR LIABILITIES
Deferred Taxation (6,756 ) (8,768 )
NET ASSETS 19,298 17,905
CAPITAL AND RESERVES
Called up share capital 11 1,001 1,001
Profit and Loss Account 18,297 16,904
SHAREHOLDERS' FUNDS 19,298 17,905
Page 1
Page 2
For the year ending 30 September 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 N W Connolly
Director
25 June 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
Abbey Group Industrial Services Limited is a private company, limited by shares, incorporated in England & Wales, registered number 10868013 . The registered office is Hanover Buildings, 11-13 Hanover Street, Liverpool, Merseyside, L1 3DN.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
2.2. Going Concern Disclosure
The company is able to meet its day to day working capital requirements through the support of its directors and funding provided by associated companies. The directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. The company therefore continues to adopt the going concern basis in preparing its financial statements. 
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.
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.
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. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent 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 and machinery 20% Reducing balance
Motor vehicles 20% Reducing balance
2.5. Leasing and Hire Purchase Contracts
Assets obtained under hire purchase contracts and 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.
2.7. Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
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2.8. Pensions
The company operates a defined pension contribution scheme. Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund.
When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.
2.9. 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. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised as a finance cost in profit or loss in the period it arises.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 21 (2023: 19)
21 19
4. Tangible Assets
Plant and machinery Motor vehicles Total
£ £ £
Cost
As at 1 October 2023 5,250 57,172 62,422
As at 30 September 2024 5,250 57,172 62,422
Depreciation
As at 1 October 2023 2,562 17,383 19,945
Provided during the period 538 7,958 8,496
As at 30 September 2024 3,100 25,341 28,441
Net Book Value
As at 30 September 2024 2,150 31,831 33,981
As at 1 October 2023 2,688 39,789 42,477
Included above are assets held under finance leases or hire purchase contracts with a net book value as follows:
2024 2023
£ £
Motor vehicles 31,831 39,789
5. Stocks
2024 2023
£ £
Stock 4,500 18,000
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6. Debtors
2024 2023
£ £
Due within one year
Trade debtors 999,358 885,924
Prepayments and accrued income 39,634 96,664
Other debtors 607,179 603,012
VAT 121,221 18,954
Directors' loan accounts 13,446 1,531
1,780,838 1,606,085
7. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Net obligations under finance lease and hire purchase contracts 14,043 14,043
Trade creditors 471,904 597,343
Bank loans and overdrafts 30,000 30,000
Corporation tax 65,867 3,881
Other taxes and social security 14,655 13,429
Other creditors 974,147 837,308
Accruals and deferred income 222,555 89,969
Directors' loan accounts 4,920 13,033
1,798,091 1,599,006
8. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Net obligations under finance lease and hire purchase contracts 8,946 22,989
Bank loans 22,500 52,500
31,446 75,489
9. Secured Creditors
The loans held are 80% secured via the government-backed Coronavirus Business Interruption Loan scheme.
Hire purchase liabilities are secured against the assets in which they relate.
2024 2023
£ £
Net obligations under finance lease and hire purchase contracts 22,988 37,032
Bank loans and overdrafts 52,500 82,500
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10. Obligations Under Finance Leases and Hire Purchase
2024 2023
£ £
The future minimum finance lease payments are as follows:
Not later than one year 14,043 14,043
Later than one year and not later than five years 8,946 22,989
22,989 37,032
22,989 37,032
11. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 1,001 1,001
12. Directors Advances, Credits and Guarantees
As at 1 October 2023 Amounts advanced Amounts repaid Amounts written off As at 30 September 2024
£ £ £ £ £
Mr Philip Meredith 1,530 7,654 29 - 9,155
Mr Jeffrey Wilson - 4,292 - - 4,292
The above loans are unsecured, interest free and repayable on demand.
13. Related Party Transactions
The following related party transactions were undertaken during the year:
A director introduced capital of £nil (2023: £16,400) and withdrew amounts of £5,325 (2023: £nil). At the balance sheet date the amounts owed to the company totalled £4,292 (2023: Amounts owed from the company £1,033).
A director introduced capital of £29 (2023: £nil) and withdrew amounts of £7,654 (2023: £2,141). At the balance sheet date the amounts owed to the company totalled £9,155 (2023: £1,530).
A director introduced capital of £2,520 (2023: £Nil) and withdrew amounts of £9,600 (2023: £23,000). At the balance sheet date the amounts owed to the director totalled £4,920 (2023: £12,000).
At the balance sheet date the amounts owed to a company under common control totalled £56,931 (2023: £206,499).
The aggregate remuneration paid to key management personnel for the year totalled £14,435 (2023: £14,435).
Dividends were paid to the directors in respect of their shareholdings totalling £189,792 (2023: £212,792).
No further transactions with related parties were undertaken such as are required to be disclosed in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
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