Acorah Software Products - Accounts Production 16.4.660 false true 31 January 2024 1 February 2023 false 1 February 2024 31 March 2025 31 March 2025 03855532 P F Parsons T Milburn iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 03855532 2024-01-31 03855532 2025-03-31 03855532 2024-02-01 2025-03-31 03855532 frs-core:CurrentFinancialInstruments 2025-03-31 03855532 frs-core:Non-currentFinancialInstruments 2025-03-31 03855532 frs-core:BetweenOneFiveYears 2025-03-31 03855532 frs-core:ComputerEquipment 2025-03-31 03855532 frs-core:ComputerEquipment 2024-02-01 2025-03-31 03855532 frs-core:ComputerEquipment 2024-01-31 03855532 frs-core:FurnitureFittings 2025-03-31 03855532 frs-core:FurnitureFittings 2024-02-01 2025-03-31 03855532 frs-core:FurnitureFittings 2024-01-31 03855532 frs-core:NetGoodwill 2025-03-31 03855532 frs-core:NetGoodwill 2024-02-01 2025-03-31 03855532 frs-core:NetGoodwill 2024-01-31 03855532 frs-core:LandBuildings frs-core:LeasedAssetsHeldAsLessee 2025-03-31 03855532 frs-core:LandBuildings frs-core:LeasedAssetsHeldAsLessee 2024-02-01 2025-03-31 03855532 frs-core:LandBuildings frs-core:LeasedAssetsHeldAsLessee 2024-01-31 03855532 frs-core:MotorVehicles 2025-03-31 03855532 frs-core:MotorVehicles 2024-02-01 2025-03-31 03855532 frs-core:MotorVehicles 2024-01-31 03855532 frs-core:PlantMachinery 2025-03-31 03855532 frs-core:PlantMachinery 2024-02-01 2025-03-31 03855532 frs-core:PlantMachinery 2024-01-31 03855532 frs-core:WithinOneYear 2025-03-31 03855532 frs-core:SharePremium 2025-03-31 03855532 frs-core:ShareCapital 2025-03-31 03855532 frs-core:RetainedEarningsAccumulatedLosses 2025-03-31 03855532 frs-bus:PrivateLimitedCompanyLtd 2024-02-01 2025-03-31 03855532 frs-bus:FilletedAccounts 2024-02-01 2025-03-31 03855532 frs-bus:SmallEntities 2024-02-01 2025-03-31 03855532 frs-bus:AuditExempt-NoAccountantsReport 2024-02-01 2025-03-31 03855532 frs-bus:SmallCompaniesRegimeForAccounts 2024-02-01 2025-03-31 03855532 frs-bus:Director1 2024-02-01 2025-03-31 03855532 frs-bus:Director1 2024-01-31 03855532 frs-bus:Director1 2025-03-31 03855532 frs-bus:Director2 2024-02-01 2025-03-31 03855532 frs-countries:EnglandWales 2024-02-01 2025-03-31 03855532 2023-01-31 03855532 2024-01-31 03855532 2023-02-01 2024-01-31 03855532 frs-core:CurrentFinancialInstruments 2024-01-31 03855532 frs-core:Non-currentFinancialInstruments 2024-01-31 03855532 frs-core:BetweenOneFiveYears 2024-01-31 03855532 frs-core:WithinOneYear 2024-01-31 03855532 frs-core:SharePremium 2024-01-31 03855532 frs-core:ShareCapital 2024-01-31 03855532 frs-core:RetainedEarningsAccumulatedLosses 2024-01-31
P F Parsons Ltd
Unaudited Financial Statements
For the Period 1 February 2024 to 31 March 2025
Freestone & Co
1 The Centre
High Street
Gillingham
Dorset
SP8 4AB
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—8
Page 1
Balance Sheet
Registered number: 03855532
31 March 2025 31 January 2024
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 5 161,416 101,031
161,416 101,031
CURRENT ASSETS
Stocks 6 21,630 45,995
Debtors 7 255,557 155,588
Cash at bank and in hand 108,885 127,147
386,072 328,730
Creditors: Amounts Falling Due Within One Year 8 (280,431 ) (202,030 )
NET CURRENT ASSETS (LIABILITIES) 105,641 126,700
TOTAL ASSETS LESS CURRENT LIABILITIES 267,057 227,731
Creditors: Amounts Falling Due After More Than One Year 9 (70,021 ) (16,164 )
PROVISIONS FOR LIABILITIES
Deferred Taxation (21,000 ) (25,000 )
NET ASSETS 176,036 186,567
CAPITAL AND RESERVES
Called up share capital 11 760 760
Share premium account 210 210
Profit and Loss Account 175,066 185,597
SHAREHOLDERS' FUNDS 176,036 186,567
Page 1
Page 2
For the period 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
P F Parsons
Director
T Milburn
Director
30 June 2025
The notes on pages 3 to 8 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
P F Parsons Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 03855532 . The registered office is One The Centre, High Street, Gillingham, Dorset, SP8 4AB.
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 20 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:
Leasehold Straight line over period of lease
Plant & Machinery 15% reducing balance basis
Motor Vehicles 25% reducing balance basis
Fixtures & Fittings 15% reducing balance basis
Computer Equipment 15% reducing balance basis
Page 3
Page 4
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 the 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
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 and deferred tax are recognised in profit or loss for the period, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case current and deferred tax are recognised in other comprehensive income or directly in equity respectively.
3. Average Number of Employees
Average number of employees, including directors, during the period was: 17 (2024: 15)
17 15
Page 4
Page 5
4. Intangible Assets
Goodwill
£
Cost
As at 1 February 2024 49,135
As at 31 March 2025 49,135
Amortisation
As at 1 February 2024 49,135
As at 31 March 2025 49,135
Net Book Value
As at 31 March 2025 -
As at 1 February 2024 -
5. Tangible Assets
Land & Property
Leasehold Plant & Machinery Motor Vehicles Fixtures & Fittings
£ £ £ £
Cost
As at 1 February 2024 31,891 9,077 193,234 12,629
Additions - 1,800 182,490 -
Disposals - (4,990 ) (126,820 ) (7,891 )
As at 31 March 2025 31,891 5,887 248,904 4,738
Depreciation
As at 1 February 2024 31,891 5,318 107,478 9,663
Provided during the period - 803 50,938 331
Disposals - (4,024 ) (33,209 ) (6,821 )
As at 31 March 2025 31,891 2,097 125,207 3,173
Net Book Value
As at 31 March 2025 - 3,790 123,697 1,565
As at 1 February 2024 - 3,759 85,756 2,966
Page 5
Page 6
Computer Equipment Total
£ £
Cost
As at 1 February 2024 22,882 269,713
Additions 35,684 219,974
Disposals (11,746 ) (151,447 )
As at 31 March 2025 46,820 338,240
Depreciation
As at 1 February 2024 14,332 168,682
Provided during the period 9,474 61,546
Disposals (9,350 ) (53,404 )
As at 31 March 2025 14,456 176,824
Net Book Value
As at 31 March 2025 32,364 161,416
As at 1 February 2024 8,550 101,031
6. Stocks
31 March 2025 31 January 2024
£ £
Stock 21,630 45,995
7. Debtors
31 March 2025 31 January 2024
£ £
Due within one year
Trade debtors 202,592 112,763
Amounts recoverable on contracts 27,966 30,790
Other debtors 24,999 12,035
255,557 155,588
Page 6
Page 7
8. Creditors: Amounts Falling Due Within One Year
31 March 2025 31 January 2024
£ £
Net obligations under finance lease and hire purchase contracts 20,068 12,730
Trade creditors 124,104 128,228
Bank loans and overdrafts 30,852 10,000
Other creditors 29,238 5,734
Taxation and social security 76,169 45,338
280,431 202,030
9. Creditors: Amounts Falling Due After More Than One Year
31 March 2025 31 January 2024
£ £
Net obligations under finance lease and hire purchase contracts 67,803 2,122
Bank loans 2,218 14,042
70,021 16,164
10. Obligations Under Finance Leases and Hire Purchase
31 March 2025 31 January 2024
£ £
The future minimum finance lease payments are as follows:
Not later than one year 20,068 12,730
Later than one year and not later than five years 67,803 2,122
87,871 14,852
87,871 14,852
11. Share Capital
31 March 2025 31 January 2024
£ £
Allotted, Called up and fully paid 760 760
Page 7
Page 8
12. Directors Advances, Credits and Guarantees
Included within Debtors are the following loans to directors:
As at 1 February 2024 Amounts advanced Amounts repaid Amounts written off As at 31 March 2025
£ £ £ £ £
Mr P F Parsons 12,000 8,000 - - 20,000
The above loan is unsecured, interest free and repayable by the 31 October 2025.
13. Related Party Transactions
Included in advertising and marketing costs for the period is £40,505 paid to Mr P F Parsons. Mr Parsons is a director and sole shareholder of the company. 
Page 8