Acorah Software Products - Accounts Production 16.4.675 false true 31 October 2023 1 November 2022 false 1 November 2023 31 October 2024 31 October 2024 02417598 Mrs J C Mason Mr A J Mason iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 02417598 2023-10-31 02417598 2024-10-31 02417598 2023-11-01 2024-10-31 02417598 frs-core:CurrentFinancialInstruments 2024-10-31 02417598 frs-core:BetweenOneFiveYears 2024-10-31 02417598 frs-core:ComputerEquipment 2024-10-31 02417598 frs-core:ComputerEquipment 2023-11-01 2024-10-31 02417598 frs-core:ComputerEquipment 2023-10-31 02417598 frs-core:LandBuildings frs-core:LeasedAssetsHeldAsLessee 2024-10-31 02417598 frs-core:LandBuildings frs-core:LeasedAssetsHeldAsLessee 2023-11-01 2024-10-31 02417598 frs-core:LandBuildings frs-core:LeasedAssetsHeldAsLessee 2023-10-31 02417598 frs-core:LandBuildings frs-core:OwnedOrFreeholdAssets 2024-10-31 02417598 frs-core:LandBuildings frs-core:OwnedOrFreeholdAssets 2023-11-01 2024-10-31 02417598 frs-core:LandBuildings frs-core:OwnedOrFreeholdAssets 2023-10-31 02417598 frs-core:MoreThanFiveYears 2024-10-31 02417598 frs-core:MotorVehicles 2024-10-31 02417598 frs-core:MotorVehicles 2023-11-01 2024-10-31 02417598 frs-core:MotorVehicles 2023-10-31 02417598 frs-core:PlantMachinery 2024-10-31 02417598 frs-core:PlantMachinery 2023-11-01 2024-10-31 02417598 frs-core:PlantMachinery 2023-10-31 02417598 frs-core:WithinOneYear 2024-10-31 02417598 frs-core:ShareCapital 2024-10-31 02417598 frs-core:RetainedEarningsAccumulatedLosses 2024-10-31 02417598 frs-bus:PrivateLimitedCompanyLtd 2023-11-01 2024-10-31 02417598 frs-bus:FilletedAccounts 2023-11-01 2024-10-31 02417598 frs-bus:SmallEntities 2023-11-01 2024-10-31 02417598 frs-bus:AuditExempt-NoAccountantsReport 2023-11-01 2024-10-31 02417598 frs-bus:SmallCompaniesRegimeForAccounts 2023-11-01 2024-10-31 02417598 frs-bus:Director1 2023-11-01 2024-10-31 02417598 frs-bus:Director2 2023-11-01 2024-10-31 02417598 frs-countries:EnglandWales 2023-11-01 2024-10-31 02417598 2022-10-31 02417598 2023-10-31 02417598 2022-11-01 2023-10-31 02417598 frs-core:CurrentFinancialInstruments 2023-10-31 02417598 frs-core:BetweenOneFiveYears 2023-10-31 02417598 frs-core:MoreThanFiveYears 2023-10-31 02417598 frs-core:WithinOneYear 2023-10-31 02417598 frs-core:ShareCapital 2023-10-31 02417598 frs-core:RetainedEarningsAccumulatedLosses 2023-10-31
Registered number: 02417598
W T I Fasteners Ltd
Financial Statements
For The Year Ended 31 October 2024
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 02417598
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 1,554,242 1,618,979
1,554,242 1,618,979
CURRENT ASSETS
Stocks 5 1,020,651 1,199,358
Debtors 6 326,402 458,672
Cash at bank and in hand 3,156,629 1,728,052
4,503,682 3,386,082
Creditors: Amounts Falling Due Within One Year 7 (585,872 ) (452,852 )
NET CURRENT ASSETS (LIABILITIES) 3,917,810 2,933,230
TOTAL ASSETS LESS CURRENT LIABILITIES 5,472,052 4,552,209
PROVISIONS FOR LIABILITIES
Deferred Taxation (67,965 ) (83,007 )
NET ASSETS 5,404,087 4,469,202
CAPITAL AND RESERVES
Called up share capital 8 10,800 10,800
Profit and Loss Account 5,393,287 4,458,402
SHAREHOLDERS' FUNDS 5,404,087 4,469,202
Page 1
Page 2
For the year ending 31 October 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
Mrs J C Mason
Director
Mr A J Mason
Director
17 July 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
W T I Fasteners Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 02417598 . The registered office is Meridian House, Leicester Road, New Packington, Ashby de la Zouch, Leicestershire, LE65 1TR.
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:
Leasehold straight line over period of the lease
Plant & Machinery 10% straight line
Motor Vehicles 15% straight line
Computer Equipment 10% - 33% straight line
2.4. Investment Properties
Investment property is initially recorded at cost , which includes purchase price and any directly attributable expenditure.
Investment property is revalued to its fair value at each reporting date and any changes in fair value are recognised in profit or loss.
2.5. Leasing and Hire Purchase Contracts
Lease payments are recognised as an expense over the lease term on a straight-line basis.
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. 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.
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Page 4
2.8. 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: 12 (2023: 12)
12 12
4. Tangible Assets
Land & Property
Freehold Leasehold Plant & Machinery Motor Vehicles
£ £ £ £
Cost
As at 1 November 2023 1,217,446 236,446 1,170,002 54,352
Additions - - 65,654 -
Disposals - - (73,717 ) -
As at 31 October 2024 1,217,446 236,446 1,161,939 54,352
Depreciation
As at 1 November 2023 - 138,011 920,357 8,153
Provided during the period - 13,042 69,248 8,153
Disposals - - (36,118 ) -
As at 31 October 2024 - 151,053 953,487 16,306
Net Book Value
As at 31 October 2024 1,217,446 85,393 208,452 38,046
As at 1 November 2023 1,217,446 98,435 249,645 46,199
Computer Equipment Total
£ £
Cost
As at 1 November 2023 57,717 2,735,963
Additions 2,198 67,852
Disposals - (73,717 )
As at 31 October 2024 59,915 2,730,098
Depreciation
As at 1 November 2023 50,463 1,116,984
Provided during the period 4,547 94,990
Disposals - (36,118 )
As at 31 October 2024 55,010 1,175,856
...CONTINUED
Page 4
Page 5
Net Book Value
As at 31 October 2024 4,905 1,554,242
As at 1 November 2023 7,254 1,618,979
During the year ended 31 October 2021 , a freehold property was purchased with the intention of being used for the purposes of the trade in future . However , it is not currently required for this purpose and has been let . As such , it is disclosed in these financial statements as an investment property . The original cost was £1,214,157 , with additions of £3,289 in the year ended 31 October 2023 . The property was valued at £1,250,000 on 6 May 2025 . The Directors are of the opinion that the value at 31 October 2024 was not materially different from the original cost plus additions to that date . Consequently , no adjustment for value has been recognised in profit and loss .
5. Stocks
2024 2023
£ £
Stock 613,482 743,697
Materials 407,169 455,661
1,020,651 1,199,358
6. Debtors
2024 2023
£ £
Due within one year
Trade debtors 321,543 389,705
Other debtors 4,859 68,967
326,402 458,672
7. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 211,114 164,008
Other creditors 20,903 19,549
Taxation and social security 353,855 269,295
585,872 452,852
8. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 10,800 10,800
9. Other Commitments
The total of future minimum lease payments under non-cancellable operating leases are as following:
2024 2023
£ £
Not later than one year 86,509 65,776
Later than one year and not later than five years 327,214 248,723
Later than five years 60,750 160,000
474,473 474,499
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