Acorah Software Products - Accounts Production 16.3.350 false true 31 March 2024 1 April 2023 false 1 April 2024 31 March 2025 31 March 2025 07709148 Mr Christopher Dawn Ms Joanne Wright Lauren Dawn iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 07709148 2024-03-31 07709148 2025-03-31 07709148 2024-04-01 2025-03-31 07709148 frs-core:CurrentFinancialInstruments 2025-03-31 07709148 frs-core:Non-currentFinancialInstruments 2025-03-31 07709148 frs-core:BetweenOneFiveYears 2025-03-31 07709148 frs-core:ComputerEquipment 2025-03-31 07709148 frs-core:ComputerEquipment 2024-04-01 2025-03-31 07709148 frs-core:ComputerEquipment 2024-03-31 07709148 frs-core:FurnitureFittings 2025-03-31 07709148 frs-core:FurnitureFittings 2024-04-01 2025-03-31 07709148 frs-core:FurnitureFittings 2024-03-31 07709148 frs-core:NetGoodwill 2025-03-31 07709148 frs-core:NetGoodwill 2024-04-01 2025-03-31 07709148 frs-core:NetGoodwill 2024-03-31 07709148 frs-core:MotorVehicles 2025-03-31 07709148 frs-core:MotorVehicles 2024-04-01 2025-03-31 07709148 frs-core:MotorVehicles 2024-03-31 07709148 frs-core:PlantMachinery 2025-03-31 07709148 frs-core:PlantMachinery 2024-04-01 2025-03-31 07709148 frs-core:PlantMachinery 2024-03-31 07709148 frs-core:WithinOneYear 2025-03-31 07709148 frs-core:ShareCapital 2025-03-31 07709148 frs-core:RetainedEarningsAccumulatedLosses 2025-03-31 07709148 frs-bus:PrivateLimitedCompanyLtd 2024-04-01 2025-03-31 07709148 frs-bus:FilletedAccounts 2024-04-01 2025-03-31 07709148 frs-bus:SmallEntities 2024-04-01 2025-03-31 07709148 frs-bus:AuditExempt-NoAccountantsReport 2024-04-01 2025-03-31 07709148 frs-bus:SmallCompaniesRegimeForAccounts 2024-04-01 2025-03-31 07709148 frs-bus:Director1 2024-04-01 2025-03-31 07709148 frs-bus:Director2 2024-04-01 2025-03-31 07709148 frs-bus:Director3 2024-04-01 2025-03-31 07709148 frs-core:CurrentFinancialInstruments 1 2025-03-31 07709148 frs-countries:EnglandWales 2024-04-01 2025-03-31 07709148 2023-03-31 07709148 2024-03-31 07709148 2023-04-01 2024-03-31 07709148 frs-core:CurrentFinancialInstruments 2024-03-31 07709148 frs-core:Non-currentFinancialInstruments 2024-03-31 07709148 frs-core:BetweenOneFiveYears 2024-03-31 07709148 frs-core:WithinOneYear 2024-03-31 07709148 frs-core:ShareCapital 2024-03-31 07709148 frs-core:RetainedEarningsAccumulatedLosses 2024-03-31 07709148 frs-core:CurrentFinancialInstruments 1 2024-03-31
Registered number: 07709148
Nep Midlands Limited
Financial Statements
For The Year Ended 31 March 2025
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—6
Page 1
Balance Sheet
Registered number: 07709148
2025 2024
Notes £ £ £ £
FIXED ASSETS
Intangible Assets 4 14,000 15,750
Tangible Assets 5 41,300 6,010
55,300 21,760
CURRENT ASSETS
Stocks 6 298,109 285,364
Debtors 7 733,879 794,834
Cash at bank and in hand 439,976 242,474
1,471,964 1,322,672
Creditors: Amounts Falling Due Within One Year 8 (476,819 ) (448,358 )
NET CURRENT ASSETS (LIABILITIES) 995,145 874,314
TOTAL ASSETS LESS CURRENT LIABILITIES 1,050,445 896,074
Creditors: Amounts Falling Due After More Than One Year 9 (478,356 ) (99,799 )
NET ASSETS 572,089 796,275
CAPITAL AND RESERVES
Called up share capital 11 1 1
Profit and Loss Account 572,088 796,274
SHAREHOLDERS' FUNDS 572,089 796,275
Page 1
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For the year ending 31 March 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 Profit and Loss Account.
On behalf of the board
Mr Christopher Dawn
Director
3 June 2025
The notes on pages 3 to 6 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Nep Midlands Limited is a private company, limited by shares, incorporated in England & Wales, registered number 07709148 . The registered office is 550 Valley Rd, Basford, Nottingham, NG5 1JJ.
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 .... 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:
Plant & Machinery 25% Reducing Balance
Motor Vehicles 20% Reducing balance
Fixtures & Fittings 20% Reducing Balance
Computer Equipment 25% Reducing Balance
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. 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. The carrying amount of deferred tax assets is reviewed at the end of each reporting period.
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.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 38 (2024: 38)
38 38
4. Intangible Assets
Goodwill
£
Cost
As at 1 April 2024 35,000
As at 31 March 2025 35,000
Amortisation
As at 1 April 2024 19,250
Provided during the period 1,750
As at 31 March 2025 21,000
Net Book Value
As at 31 March 2025 14,000
As at 1 April 2024 15,750
5. Tangible Assets
Plant & Machinery Motor Vehicles Fixtures & Fittings Computer Equipment Total
£ £ £ £ £
Cost
As at 1 April 2024 1,200 6,750 5,000 15,723 28,673
Additions - 36,239 - - 36,239
As at 31 March 2025 1,200 42,989 5,000 15,723 64,912
Depreciation
As at 1 April 2024 1,163 2,430 4,251 14,819 22,663
Provided during the period 9 864 (150 ) 226 949
As at 31 March 2025 1,172 3,294 4,101 15,045 23,612
Net Book Value
As at 31 March 2025 28 39,695 899 678 41,300
As at 1 April 2024 37 4,320 749 904 6,010
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6. Stocks
2025 2024
£ £
Stock 298,109 285,364
7. Debtors
2025 2024
£ £
Due within one year
Trade debtors 475,879 536,834
Investments 258,000 258,000
733,879 794,834
8. Creditors: Amounts Falling Due Within One Year
2025 2024
£ £
Net obligations under finance lease and hire purchase contracts 7,266 -
Trade creditors 233,001 215,688
Bank loans and overdrafts 101,727 9,774
Corporation tax - 14,942
Other taxes and social security 5,065 1,012
VAT 17,171 42,898
Credit card 14,875 12,980
Accruals and deferred income 5,475 5,475
Directors' loan accounts 92,239 145,589
476,819 448,358
9. Creditors: Amounts Falling Due After More Than One Year
2025 2024
£ £
Net obligations under finance lease and hire purchase contracts 34,709 -
Bank loans 443,647 99,799
478,356 99,799
10. Obligations Under Finance Leases and Hire Purchase
2025 2024
£ £
The future minimum finance lease payments are as follows:
Not later than one year 7,266 -
Later than one year and not later than five years 34,709 -
41,975 -
41,975 -
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11. Share Capital
2025 2024
£ £
Allotted, Called up and fully paid 1 1
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