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Registered number: 01601453
Accord (Midlands) Limited
Unaudited Financial Statements
For The Year Ended 31 March 2025
Deans
Gibson House Hurricane Close
Stafford
Staffordshire
ST16 1GZ
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—6
Page 1
Balance Sheet
Registered number: 01601453
2025 2024
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 129,087 83,973
129,087 83,973
CURRENT ASSETS
Stocks 5 10,594 11,005
Debtors 6 213,523 156,246
Cash at bank and in hand 68,045 84,021
292,162 251,272
Creditors: Amounts Falling Due Within One Year 7 (134,977 ) (75,681 )
NET CURRENT ASSETS (LIABILITIES) 157,185 175,591
TOTAL ASSETS LESS CURRENT LIABILITIES 286,272 259,564
Creditors: Amounts Falling Due After More Than One Year 8 (19,504 ) (22,222 )
PROVISIONS FOR LIABILITIES
Deferred Taxation (24,526 ) (15,955 )
NET ASSETS 242,242 221,387
CAPITAL AND RESERVES
Called up share capital 11 16,000 16,000
Profit and Loss Account 226,242 205,387
SHAREHOLDERS' FUNDS 242,242 221,387
Page 1
Page 2
For the year 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 member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his 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 J D Gumm
Director
21 July 2025
The notes on pages 3 to 6 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Accord (Midlands) Limited is a private company, limited by shares, registered in England & Wales.  The company's registered number and registered office address can be found on the Company Information page.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of section 1a "Small Entities" and the Companies Act 2006.  The financial statements have been prepared under the historical cost convention.
The financial statements are presented in sterling which is the functional currency of the company and rounded to the nearest £.
The significant accounting policies applied in the preparation of these financial statements are set out below.  These policies have been consistently applied to all years presented unless otherwise stated.
2.2. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of VAT and trade discounts.  The policies adopted for the recognition of turnover are as follows:
Sale of goods
Turnover from the sale of scrap metals is recognised when significant risks and rewards of ownership of the goods have transferred to the buyer, the amount of turnover can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the company and the costs incurred or to be incurred in respect of the transaction can be measured reliably. This is usually on dispatch of the goods.
Rendering of services
When the outcome of a transaction can be estimated reliably, turnover from plumbing services is recognised by reference to the stage of completion at the balance sheet date. Stage of completion is measured by reference to the quoted service.
Where the outcome cannot be measured reliably, turnover is recognised only to the extent of the expenses recognised that are recoverable.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are stated at cost less accumulated depreciation.  Cost includes costs directly attributable to making the asset capable of operating as intended.  Depreciation is provided at the following rates in order to write off each asset over its estimated useful life.
Leasehold 15% reducing balance
Plant & Machinery 25% reducing balance
Motor Vehicles 25% reducing balance
Fixtures & Fittings 15% reducing balance
Computer Equipment 33% straight line
2.4. Leasing and Hire Purchase Contracts
Assets obtained under hire purchase contracts and finance leases are capitalised as tangible assets and depreciated over the shorter of the lease term and their useful lives. Minimum lease payments are apportioned between the finance charge and the reduction of the outstanding lease liability using the effective interest method. The related obligations, net of future finance charges, are included in creditors.
2.5. Stocks and Work in Progress
Stocks and work in progress are stated at the lower of cost and estimated selling price less costs to complete and sell.  Cost includes all cost of purchase, cost of conversion and other costs incurred in bringing stock to its present location and condition. Cost is calculated using the first-in, first-out formula.  Provision is made for damaged, obsolete and slow-moving stock where appropriate.
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2.6. Taxation
Taxation for the year comprises current and deferred tax.  Tax is recognised in the Profit and Loss Account, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.  
Current or deferred taxation assets and liabilities are not discounted.
Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.
Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements.  Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.
Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.
2.7. Pensions
The company operates a defined contribution pension scheme. Contributions are charged to the profit and loss account as they become payable in accordance with the rules of the scheme.
2.8. Debtors and creditors receivable / payable within one year
Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price.  Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 12 (2024: 11)
12 11
4. Tangible Assets
Land & Property
Leasehold Plant & Machinery Motor Vehicles Fixtures & Fittings
£ £ £ £
Cost
As at 1 April 2024 18,558 2,342 192,087 9,941
Additions - - 91,315 495
Disposals - - (18,225 ) -
As at 31 March 2025 18,558 2,342 265,177 10,436
Depreciation
As at 1 April 2024 17,840 2,105 111,752 8,490
Provided during the period 107 59 41,831 292
Disposals - - (13,900 ) -
As at 31 March 2025 17,947 2,164 139,683 8,782
Net Book Value
As at 31 March 2025 611 178 125,494 1,654
As at 1 April 2024 718 237 80,335 1,451
Page 4
Page 5
Computer Equipment Total
£ £
Cost
As at 1 April 2024 10,131 233,059
Additions 1,100 92,910
Disposals - (18,225 )
As at 31 March 2025 11,231 307,744
Depreciation
As at 1 April 2024 8,899 149,086
Provided during the period 1,182 43,471
Disposals - (13,900 )
As at 31 March 2025 10,081 178,657
Net Book Value
As at 31 March 2025 1,150 129,087
As at 1 April 2024 1,232 83,973
Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
2025 2024
£ £
Motor Vehicles 79,069 69,771
5. Stocks
2025 2024
£ £
Stock 10,594 11,005
6. Debtors
2025 2024
£ £
Due within one year
Trade debtors 180,176 130,029
Prepayments and accrued income 25,862 20,826
VAT 7,485 5,391
213,523 156,246
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7. Creditors: Amounts Falling Due Within One Year
2025 2024
£ £
Net obligations under finance lease and hire purchase contracts 36,498 20,417
Trade creditors 82,677 37,079
Bank loans and overdrafts - 397
Corporation tax 2,873 -
Other taxes and social security 7,152 8,065
Other creditors 2,814 6,944
Accruals and deferred income 2,963 2,779
134,977 75,681
8. Creditors: Amounts Falling Due After More Than One Year
2025 2024
£ £
Net obligations under finance lease and hire purchase contracts 19,504 22,222
9. Secured Creditors
Of the creditors the following amounts are secured:
2025 2024
£ £
Net obligations under finance lease and hire purchase contracts 56,002 42,639
10. Obligations Under Finance Leases and Hire Purchase
2025 2024
£ £
The future minimum finance lease payments are as follows:
Not later than one year 36,498 20,417
Later than one year and not later than five years 19,504 22,222
56,002 42,639
56,002 42,639
11. Share Capital
2025 2024
Allotted, called up and fully paid £ £
9,000 Ordinary A shares of £ 1.00 each 9,000 9,000
3,500 Ordinary B shares of £ 1.00 each 3,500 3,500
3,500 Ordinary C shares of £ 1.00 each 3,500 3,500
16,000 16,000
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