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Registered number: 05431167
Advatac Limited
Unaudited Financial Statements
For The Year Ended 30 April 2025
TCP Accountants
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 05431167
2025 2024
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 132,086 127,388
132,086 127,388
CURRENT ASSETS
Stocks 289,596 325,851
Debtors 5 694,810 681,700
Cash at bank and in hand 1,206,107 886,888
2,190,513 1,894,439
Creditors: Amounts Falling Due Within One Year 6 (563,162 ) (547,509 )
NET CURRENT ASSETS (LIABILITIES) 1,627,351 1,346,930
TOTAL ASSETS LESS CURRENT LIABILITIES 1,759,437 1,474,318
PROVISIONS FOR LIABILITIES
Deferred Taxation (3,093 ) (8,329 )
NET ASSETS 1,756,344 1,465,989
CAPITAL AND RESERVES
Called up share capital 7 4 4
Profit and Loss Account 1,756,340 1,465,985
SHAREHOLDERS' FUNDS 1,756,344 1,465,989
Page 1
Page 2
For the year ending 30 April 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 N Chapman
Director
17 June 2025
The notes on pages 3 to 5 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Advatac Limited is a private company, limited by shares, incorporated in England & Wales, registered number 05431167 . The registered office is Unit 2 Nunn Close, Huthwaite, Sutton In Ashfield, Nottinghamshire, NG17 2HW.
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. 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 15% on reducing balance
Motor Vehicles 25% on reducing balance
Fixtures & Fittings 25% on reducing balance
Computer Equipment 25% on reducing balance
2.4. 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.
2.5. Foreign Currencies
Monetary 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 ruling on the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
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 year 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.
...CONTINUED
Page 3
Page 4
2.6. Taxation - continued
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 asset reflects 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.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 10 (2024: 9)
10 9
4. Tangible Assets
Plant & Machinery Motor Vehicles Fixtures & Fittings Total
£ £ £ £
Cost
As at 1 May 2024 127,710 98,701 42,511 268,922
Additions - 41,983 211 42,194
As at 30 April 2025 127,710 140,684 42,722 311,116
Depreciation
As at 1 May 2024 78,726 24,675 38,133 141,534
Provided during the period 7,347 29,002 1,147 37,496
As at 30 April 2025 86,073 53,677 39,280 179,030
Net Book Value
As at 30 April 2025 41,637 87,007 3,442 132,086
As at 1 May 2024 48,984 74,026 4,378 127,388
5. Debtors
2025 2024
£ £
Due within one year
Trade debtors 690,924 644,350
Prepayments and accrued income 1,000 10,000
Other debtors 734 26,523
Other taxes and social security 2,152 827
694,810 681,700
6. Creditors: Amounts Falling Due Within One Year
2025 2024
£ £
Trade creditors 268,886 273,280
Corporation tax 153,856 143,502
VAT 133,125 123,651
Other creditors 691 784
Accruals and deferred income 3,575 3,575
Directors' loan accounts 3,029 2,717
563,162 547,509
Page 4
Page 5
7. Share Capital
2025 2024
£ £
Allotted, Called up and fully paid 4 4
Page 5