Acorah Software Products - Accounts Production 16.3.350 false true 31 December 2023 1 January 2023 false 13 June 2025 1 January 2024 31 December 2024 31 December 2024 NI026851 Mr Philip Rex Morrow Mrs Norma Lynne Morrow Mr Philip Rex Morrow true iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure NI026851 2023-12-31 NI026851 2024-12-31 NI026851 2024-01-01 2024-12-31 NI026851 frs-core:CurrentFinancialInstruments 2024-12-31 NI026851 frs-core:FurnitureFittings 2024-12-31 NI026851 frs-core:FurnitureFittings 2024-01-01 2024-12-31 NI026851 frs-core:FurnitureFittings 2023-12-31 NI026851 frs-core:PlantMachinery 2024-12-31 NI026851 frs-core:PlantMachinery 2024-01-01 2024-12-31 NI026851 frs-core:PlantMachinery 2023-12-31 NI026851 frs-core:ShareCapital 2024-12-31 NI026851 frs-core:RetainedEarningsAccumulatedLosses 2024-12-31 NI026851 frs-bus:PrivateLimitedCompanyLtd 2024-01-01 2024-12-31 NI026851 frs-bus:FilletedAccounts 2024-01-01 2024-12-31 NI026851 frs-bus:SmallEntities 2024-01-01 2024-12-31 NI026851 frs-bus:Audited 2024-01-01 2024-12-31 NI026851 frs-bus:SmallCompaniesRegimeForAccounts 2024-01-01 2024-12-31 NI026851 1 2024-01-01 2024-12-31 NI026851 frs-bus:Director1 2024-01-01 2024-12-31 NI026851 frs-bus:Director2 2024-01-01 2024-12-31 NI026851 frs-bus:CompanySecretary1 2024-01-01 2024-12-31 NI026851 frs-countries:NorthernIreland 2024-01-01 2024-12-31 NI026851 2022-12-31 NI026851 2023-12-31 NI026851 2023-01-01 2023-12-31 NI026851 frs-core:CurrentFinancialInstruments 2023-12-31 NI026851 frs-core:ShareCapital 2023-12-31 NI026851 frs-core:RetainedEarningsAccumulatedLosses 2023-12-31
Registered number: NI026851
PRM Distribution Limited
Financial Statements
For The Year Ended 31 December 2024
Contents
Page
Balance Sheet 1
Notes to the Financial Statements 2—4
Page 1
Balance Sheet
Registered number: NI026851
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 44,375 53,995
44,375 53,995
CURRENT ASSETS
Stocks 212,587 256,035
Debtors 5 2,882,253 2,909,887
Cash at bank and in hand 994,536 1,227,743
4,089,376 4,393,665
Creditors: Amounts Falling Due Within One Year 6 (2,476,552 ) (2,780,008 )
NET CURRENT ASSETS (LIABILITIES) 1,612,824 1,613,657
TOTAL ASSETS LESS CURRENT LIABILITIES 1,657,199 1,667,652
NET ASSETS 1,657,199 1,667,652
CAPITAL AND RESERVES
Called up share capital 8 10,002 10,002
Profit and Loss Account 1,647,197 1,657,650
SHAREHOLDERS' FUNDS 1,657,199 1,667,652
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 Philip Rex Morrow
Director
Mrs Norma Lynne Morrow
Director
13 June 2025
The notes on pages 2 to 4 form part of these financial statements.
Page 1
Page 2
Notes to the Financial Statements
1. General Information
PRM Distribution Limited is a private company, limited by shares, incorporated in Northern Ireland. The registered number of the company is NI026851. The registered office address of the company is Rathdown Road Lissue Industrial Estate, Moira Road, Lisburn, Co. Antrim BT28 2RE. The financial statements have been presented in Pounds Sterling (£) which is also the functional currency of the company. 
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.
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 25% on cost
Fixtures & Fittings 20% on cost
2.4. Stocks and Work in Progress
Stocks 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. No work-in-progress reflected in the accounts. 
2.5. Foreign Currencies
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 of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.
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.
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Page 3
2.7. Pensions
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 43 (2023: 42)
43 42
4. Tangible Assets
Plant & Machinery Fixtures & Fittings Total
£ £ £
Cost
As at 1 January 2024 28,013 330,911 358,924
Additions - 15,648 15,648
As at 31 December 2024 28,013 346,559 374,572
Depreciation
As at 1 January 2024 28,013 276,916 304,929
Provided during the period - 25,268 25,268
As at 31 December 2024 28,013 302,184 330,197
Net Book Value
As at 31 December 2024 - 44,375 44,375
As at 1 January 2024 - 53,995 53,995
5. Debtors
2024 2023
£ £
Due within one year
Trade debtors 2,505,532 2,536,363
Other debtors 376,721 373,524
2,882,253 2,909,887
6. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 723,078 809,019
Bank loans and overdrafts 1,661,621 1,398,842
Other creditors 39,113 457,178
Taxation and social security 52,740 114,969
2,476,552 2,780,008
7. Secured Creditors
Of the creditors the following amounts are secured.
The Bank holds a fixed and floating charge over assets of the Company as security for bank borrowings. 
2024 2023
£ £
Bank loans and overdrafts 1,661,621 1,398,842
Page 3
Page 4
8. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 10,002 10,002
9. Related Party Transactions
Sales to
Related
Parties
£
Purchases
from Related
Parties
£
Other Services
from/ (to) Related
Parties
£
Loan Balances owed
to/ (by) PRM Distribution
Ltd at Year End
£
Trade Balances owed
to/ (by) PRM Distribution
Ltd at Year End
£
Transactions
with Group
Companies
101,000
-
(43,291)
-
121,127
Transactions
with Other
Related Parties
561,328
513,038
(697,568)
-
109,485
10. FRC's Ethical Standard - Provision Available for Small Entities
In common with other businesses of our size and nature we use our auditors to prepare and submit returns to the tax authorities and assist with the preparation of the financial statements.
11. Ultimate Controlling Party
The ultimate controlling parties are the Directors due to their equity shareholding in the parent company which is:
PRM Group Limited
Registered office address:
Rathdown Road
Lissue Industrial Estate
Moira Road
Lisburn
Co Antrim
BT28 2RE
12. Audit Information
The auditor's report on the accounts of PRM Distribution Limited for the year ended 31 December 2024 was unqualified.
The auditor's report was signed by John McCleary (Senior Statutory Auditor) for and on behalf of McCleary & Company Ltd , Statutory Auditor.
McCleary & Company Ltd
Garvey Studios
14 Longstone Street
Lisburn
Co Antrim
BT28 1TP
Page 4