Acorah Software Products - Accounts Production 16.4.675 false true 31 May 2024 1 June 2023 false 1 June 2024 31 May 2025 31 May 2025 05511239 M A Skinner P J Skinner N A Skinner iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 05511239 2024-05-31 05511239 2025-05-31 05511239 2024-06-01 2025-05-31 05511239 frs-core:CurrentFinancialInstruments 2025-05-31 05511239 frs-core:Non-currentFinancialInstruments 2025-05-31 05511239 frs-core:BetweenOneFiveYears 2025-05-31 05511239 frs-core:NetGoodwill 2025-05-31 05511239 frs-core:NetGoodwill 2024-06-01 2025-05-31 05511239 frs-core:NetGoodwill 2024-05-31 05511239 frs-core:MotorVehicles 2024-06-01 2025-05-31 05511239 frs-core:PlantMachinery 2025-05-31 05511239 frs-core:PlantMachinery 2024-06-01 2025-05-31 05511239 frs-core:PlantMachinery 2024-05-31 05511239 frs-core:ShareCapital 2025-05-31 05511239 frs-core:RetainedEarningsAccumulatedLosses 2025-05-31 05511239 frs-bus:PrivateLimitedCompanyLtd 2024-06-01 2025-05-31 05511239 frs-bus:FilletedAccounts 2024-06-01 2025-05-31 05511239 frs-bus:SmallEntities 2024-06-01 2025-05-31 05511239 frs-bus:AuditExempt-NoAccountantsReport 2024-06-01 2025-05-31 05511239 frs-bus:SmallCompaniesRegimeForAccounts 2024-06-01 2025-05-31 05511239 frs-core:CostValuation 2024-05-31 05511239 frs-core:CostValuation 2025-05-31 05511239 frs-core:ProvisionsForImpairmentInvestments 2024-05-31 05511239 frs-core:ProvisionsForImpairmentInvestments 2025-05-31 05511239 frs-bus:Director1 2024-06-01 2025-05-31 05511239 frs-bus:Director2 2024-06-01 2025-05-31 05511239 frs-bus:CompanySecretary1 2024-06-01 2025-05-31 05511239 frs-countries:EnglandWales 2024-06-01 2025-05-31 05511239 2023-05-31 05511239 2024-05-31 05511239 2023-06-01 2024-05-31 05511239 frs-core:CurrentFinancialInstruments 2024-05-31 05511239 frs-core:Non-currentFinancialInstruments 2024-05-31 05511239 frs-core:BetweenOneFiveYears 2024-05-31 05511239 frs-core:ShareCapital 2024-05-31 05511239 frs-core:RetainedEarningsAccumulatedLosses 2024-05-31
Registered number: 05511239
Phoenix Steels (Sheffield) Limited
Financial Statements
For The Year Ended 31 May 2025
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 05511239
2025 2024
Notes £ £ £ £
FIXED ASSETS
Intangible Assets 4 1 1
Tangible Assets 5 43,617 51,314
Investments 6 1 1
43,619 51,316
CURRENT ASSETS
Stocks 7 249,000 273,000
Debtors 8 173,298 249,699
Cash at bank and in hand 13,733 36,966
436,031 559,665
Creditors: Amounts Falling Due Within One Year 9 (164,604 ) (208,990 )
NET CURRENT ASSETS (LIABILITIES) 271,427 350,675
TOTAL ASSETS LESS CURRENT LIABILITIES 315,046 401,991
Creditors: Amounts Falling Due After More Than One Year 10 - (10,160 )
PROVISIONS FOR LIABILITIES
Deferred Taxation (10,900 ) (11,600 )
NET ASSETS 304,146 380,231
CAPITAL AND RESERVES
Called up share capital 11 100 100
Profit and Loss Account 304,046 380,131
SHAREHOLDERS' FUNDS 304,146 380,231
Page 1
Page 2
For the year ending 31 May 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
M A Skinner
Director
P J Skinner
Director
22 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
Phoenix Steels (Sheffield) Limited is a private company, limited by shares, incorporated in England & Wales, registered number 05511239 . The registered office is 1 Canal Street, Sheffield, S4 7ZE.
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 the profit and loss account over its estimated economic life of .... 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:
Plant & Machinery 15-50% REDUCING BALANCE
Motor Vehicles 25% REDUCING BALANCE
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.
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. 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: 7 (2024: 8)
7 8
Page 3
Page 4
4. Intangible Assets
Goodwill
£
Cost
As at 1 June 2024 8,000
As at 31 May 2025 8,000
Amortisation
As at 1 June 2024 7,999
As at 31 May 2025 7,999
Net Book Value
As at 31 May 2025 1
As at 1 June 2024 1
5. Tangible Assets
Plant & Machinery
£
Cost
As at 1 June 2024 100,115
As at 31 May 2025 100,115
Depreciation
As at 1 June 2024 48,801
Provided during the period 7,697
As at 31 May 2025 56,498
Net Book Value
As at 31 May 2025 43,617
As at 1 June 2024 51,314
6. Investments
Subsidiaries
£
Cost or Valuation
As at 1 June 2024 1
As at 31 May 2025 1
Provision
As at 1 June 2024 -
As at 31 May 2025 -
Net Book Value
As at 31 May 2025 1
As at 1 June 2024 1
Page 4
Page 5
7. Stocks
2025 2024
£ £
Stock 249,000 273,000
8. Debtors
2025 2024
£ £
Due within one year
Trade debtors 165,980 239,716
Amounts owed by group undertakings 2,738 4,738
Other debtors 4,580 5,245
173,298 249,699
9. Creditors: Amounts Falling Due Within One Year
2025 2024
£ £
Trade creditors 99,475 92,288
Bank loans and overdrafts 10,455 10,500
Other creditors 6,230 6,345
Taxation and social security 48,444 99,857
164,604 208,990
10. Creditors: Amounts Falling Due After More Than One Year
2025 2024
£ £
Bank loans - 10,160
11. Share Capital
2025 2024
£ £
Allotted, Called up and fully paid 100 100
12. Other Commitments
The total of future minimum lease payments under non-cancellable operating leases are as following:
2025 2024
£ £
Later than one year and not later than five years 69,875 89,375
69,875 89,375
The above is the aggregate amount of commited property lease payments.
Page 5