Acorah Software Products - Accounts Production 16.4.660 false true 30 November 2023 1 December 2022 false 1 December 2023 30 November 2024 30 November 2024 10498647 Mr Glen Nicholls Mr Daniel Gee iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 10498647 2023-11-30 10498647 2024-11-30 10498647 2023-12-01 2024-11-30 10498647 frs-core:CurrentFinancialInstruments 2024-11-30 10498647 frs-core:Non-currentFinancialInstruments 2024-11-30 10498647 frs-core:BetweenOneFiveYears 2024-11-30 10498647 frs-core:ComputerEquipment 2024-11-30 10498647 frs-core:ComputerEquipment 2023-12-01 2024-11-30 10498647 frs-core:ComputerEquipment 2023-11-30 10498647 frs-core:FurnitureFittings 2024-11-30 10498647 frs-core:FurnitureFittings 2023-12-01 2024-11-30 10498647 frs-core:FurnitureFittings 2023-11-30 10498647 frs-core:MotorVehicles 2024-11-30 10498647 frs-core:MotorVehicles 2023-12-01 2024-11-30 10498647 frs-core:MotorVehicles 2023-11-30 10498647 frs-core:PlantMachinery 2024-11-30 10498647 frs-core:PlantMachinery 2023-12-01 2024-11-30 10498647 frs-core:PlantMachinery 2023-11-30 10498647 frs-core:WithinOneYear 2024-11-30 10498647 frs-core:ShareCapital 2024-11-30 10498647 frs-core:RetainedEarningsAccumulatedLosses 2024-11-30 10498647 frs-bus:PrivateLimitedCompanyLtd 2023-12-01 2024-11-30 10498647 frs-bus:FilletedAccounts 2023-12-01 2024-11-30 10498647 frs-bus:SmallEntities 2023-12-01 2024-11-30 10498647 frs-bus:AuditExempt-NoAccountantsReport 2023-12-01 2024-11-30 10498647 frs-bus:SmallCompaniesRegimeForAccounts 2023-12-01 2024-11-30 10498647 frs-bus:Director1 2023-12-01 2024-11-30 10498647 frs-bus:Director1 2023-11-30 10498647 frs-bus:Director1 2024-11-30 10498647 frs-bus:Director2 2023-12-01 2024-11-30 10498647 frs-core:CurrentFinancialInstruments 1 2024-11-30 10498647 frs-countries:EnglandWales 2023-12-01 2024-11-30 10498647 2022-11-30 10498647 2023-11-30 10498647 2022-12-01 2023-11-30 10498647 frs-core:CurrentFinancialInstruments 2023-11-30 10498647 frs-core:Non-currentFinancialInstruments 2023-11-30 10498647 frs-core:BetweenOneFiveYears 2023-11-30 10498647 frs-core:WithinOneYear 2023-11-30 10498647 frs-core:ShareCapital 2023-11-30 10498647 frs-core:RetainedEarningsAccumulatedLosses 2023-11-30 10498647 frs-core:CurrentFinancialInstruments 1 2023-11-30
Registered number: 10498647
Infused Electrical Contractors Limited
Unaudited Financial Statements
For The Year Ended 30 November 2024
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—6
Page 1
Balance Sheet
Registered number: 10498647
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 122,974 106,332
122,974 106,332
CURRENT ASSETS
Stocks 5 163,400 -
Debtors 6 250,492 357,942
Cash at bank and in hand 67,627 150,096
481,519 508,038
Creditors: Amounts Falling Due Within One Year 7 (310,970 ) (309,257 )
NET CURRENT ASSETS (LIABILITIES) 170,549 198,781
TOTAL ASSETS LESS CURRENT LIABILITIES 293,523 305,113
Creditors: Amounts Falling Due After More Than One Year 8 (51,276 ) (50,393 )
NET ASSETS 242,247 254,720
CAPITAL AND RESERVES
Called up share capital 10 206 202
Profit and Loss Account 242,041 254,518
SHAREHOLDERS' FUNDS 242,247 254,720
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For the year ending 30 November 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 Daniel Gee
Director
26/06/2025
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
Infused Electrical Contractors Limited is a private company, limited by shares, incorporated in England & Wales, registered number 10498647 . The registered office is 23 Tunstall Road, Woodthorpe, Nottingham, NG5 4JZ.
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 33% Straight Line
Motor Vehicles 25% Straight Line
Fixtures & Fittings 25% Straight Line
Computer Equipment 25% Straight Line
2.4. 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.
2.5. 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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2.6. 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 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 year, 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 year was: 14 (2023: 14)
14 14
4. Tangible Assets
Plant & Machinery Motor Vehicles Fixtures & Fittings Computer Equipment Total
£ £ £ £ £
Cost
As at 1 December 2023 14,082 164,694 1,474 2,313 182,563
Additions 5,044 46,985 420 1,639 54,088
As at 30 November 2024 19,126 211,679 1,894 3,952 236,651
Depreciation
As at 1 December 2023 4,621 69,657 1,423 530 76,231
Provided during the period 4,278 32,319 63 786 37,446
As at 30 November 2024 8,899 101,976 1,486 1,316 113,677
Net Book Value
As at 30 November 2024 10,227 109,703 408 2,636 122,974
As at 1 December 2023 9,461 95,037 51 1,783 106,332
5. Stocks
2024 2023
£ £
Work in progress 163,400 -
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6. Debtors
2024 2023
£ £
Due within one year
Trade debtors - 45,040
Prepayments and accrued income 1,111 -
Other debtors 237,921 229,975
VAT due from HMRC 11,460 7,927
Directors' loan accounts - 75,000
250,492 357,942
7. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Net obligations under finance lease and hire purchase contracts 30,225 27,074
Trade creditors 1,727 2,891
Bank loans and overdrafts 15,293 25,191
Corporation tax 39,682 33,653
Other taxes and social security 208,491 145,448
Other creditors 222 -
Credit Card 13,307 -
Accruals and deferred income - 60,840
Directors' loan accounts 2,023 14,160
310,970 309,257
8. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Net obligations under finance lease and hire purchase contracts 51,276 50,393
9. Obligations Under Finance Leases and Hire Purchase
2024 2023
£ £
The future minimum finance lease payments are as follows:
Not later than one year 30,225 27,074
Later than one year and not later than five years 51,276 50,393
81,501 77,467
81,501 77,467
10. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 206 202
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11. Directors Advances, Credits and Guarantees
Included within Debtors are the following loans to directors:
As at 1 December 2023 Amounts advanced Amounts repaid Amounts written off As at 30 November 2024
£ £ £ £ £
Mr Daniel Gee 75,000 - 75,000 - -
During the financial year ended 31 December 2023, the company advanced an unsecured, interest-free loan of £75,000 to Mr. D. Gee, a director of the company. The loan was repayable on demand. This loan was fully repaid by Mr. D. Gee on 1 February 2024.
12. Dividends
2024 2023
£ £
On equity shares:
Final dividend paid 148,700 152,500
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