Acorah Software Products - Accounts Production 16.3.350 false true 31 October 2023 1 November 2022 false 1 November 2023 31 October 2024 31 October 2024 07705222 Mr Simon Mayne Mr Craig Chiverton Mr Carl Shephard iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 07705222 2023-10-31 07705222 2024-10-31 07705222 2023-11-01 2024-10-31 07705222 frs-core:CurrentFinancialInstruments 2024-10-31 07705222 frs-core:Non-currentFinancialInstruments 2024-10-31 07705222 frs-core:BetweenOneFiveYears 2024-10-31 07705222 frs-core:ComputerEquipment 2024-10-31 07705222 frs-core:ComputerEquipment 2023-11-01 2024-10-31 07705222 frs-core:ComputerEquipment 2023-10-31 07705222 frs-core:FurnitureFittings 2024-10-31 07705222 frs-core:FurnitureFittings 2023-11-01 2024-10-31 07705222 frs-core:FurnitureFittings 2023-10-31 07705222 frs-core:InvestmentPropertyIncludedWithinPPE 2024-10-31 07705222 frs-core:InvestmentPropertyIncludedWithinPPE 2023-11-01 2024-10-31 07705222 frs-core:InvestmentPropertyIncludedWithinPPE 2023-10-31 07705222 frs-core:LandBuildings frs-core:LeasedAssetsHeldAsLessee 2024-10-31 07705222 frs-core:LandBuildings frs-core:LeasedAssetsHeldAsLessee 2023-11-01 2024-10-31 07705222 frs-core:LandBuildings frs-core:LeasedAssetsHeldAsLessee 2023-10-31 07705222 frs-core:MotorVehicles 2024-10-31 07705222 frs-core:MotorVehicles 2023-11-01 2024-10-31 07705222 frs-core:MotorVehicles 2023-10-31 07705222 frs-core:PlantMachinery 2024-10-31 07705222 frs-core:PlantMachinery 2023-11-01 2024-10-31 07705222 frs-core:PlantMachinery 2023-10-31 07705222 frs-core:WithinOneYear 2024-10-31 07705222 frs-core:ShareCapital 2024-10-31 07705222 frs-core:RetainedEarningsAccumulatedLosses 2024-10-31 07705222 frs-bus:PrivateLimitedCompanyLtd 2023-11-01 2024-10-31 07705222 frs-bus:FilletedAccounts 2023-11-01 2024-10-31 07705222 frs-bus:SmallEntities 2023-11-01 2024-10-31 07705222 frs-bus:AuditExempt-NoAccountantsReport 2023-11-01 2024-10-31 07705222 frs-bus:SmallCompaniesRegimeForAccounts 2023-11-01 2024-10-31 07705222 frs-core:FurtherSpecificReserve1ComponentTotalEquity 2023-10-31 07705222 frs-core:FurtherSpecificReserve1ComponentTotalEquity 2024-10-31 07705222 frs-bus:Director1 2023-11-01 2024-10-31 07705222 frs-bus:Director1 2023-10-31 07705222 frs-bus:Director1 2024-10-31 07705222 frs-bus:Director2 2023-11-01 2024-10-31 07705222 frs-bus:Director2 2023-10-31 07705222 frs-bus:Director2 2024-10-31 07705222 frs-bus:Director3 2023-11-01 2024-10-31 07705222 frs-bus:Director3 2023-10-31 07705222 frs-bus:Director3 2024-10-31 07705222 frs-countries:EnglandWales 2023-11-01 2024-10-31 07705222 2022-10-31 07705222 2023-10-31 07705222 2022-11-01 2023-10-31 07705222 frs-core:CurrentFinancialInstruments 2023-10-31 07705222 frs-core:Non-currentFinancialInstruments 2023-10-31 07705222 frs-core:BetweenOneFiveYears 2023-10-31 07705222 frs-core:WithinOneYear 2023-10-31 07705222 frs-core:ShareCapital 2023-10-31 07705222 frs-core:RetainedEarningsAccumulatedLosses 2023-10-31 07705222 frs-core:FurtherSpecificReserve1ComponentTotalEquity 2023-10-31
Registered number: 07705222
SDM Fuel Solutions Limited
Unaudited Financial Statements
For The Year Ended 31 October 2024
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—7
Page 1
Balance Sheet
Registered number: 07705222
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 2,859,741 2,883,098
2,859,741 2,883,098
CURRENT ASSETS
Stocks 5 372,300 350,157
Debtors 6 2,265,539 1,947,675
Cash at bank and in hand 263,469 239,764
2,901,308 2,537,596
Creditors: Amounts Falling Due Within One Year 7 (2,262,596 ) (1,685,484 )
NET CURRENT ASSETS (LIABILITIES) 638,712 852,112
TOTAL ASSETS LESS CURRENT LIABILITIES 3,498,453 3,735,210
Creditors: Amounts Falling Due After More Than One Year 8 (1,506,778 ) (1,735,615 )
PROVISIONS FOR LIABILITIES
Deferred Taxation (414,357 ) (500,970 )
NET ASSETS 1,577,318 1,498,625
CAPITAL AND RESERVES
Called up share capital 11 100 100
Fair value reserve 15 882,651 882,651
Profit and Loss Account 694,567 615,874
SHAREHOLDERS' FUNDS 1,577,318 1,498,625
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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
Mr Simon Mayne
Director
1 August 2025
The notes on pages 3 to 7 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
SDM Fuel Solutions Limited is a private company, limited by shares, incorporated in England & Wales, registered number 07705222 . The registered office is Wade Park Farm House Salisbury Road, Ower, Romsey, Hampshire, SO51 6AG.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements are prepared under the historical cost convention and in accordance with the FRS 102 Section 1A Small Entities - The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.
These financial statements are presented in pound sterling which is the functional currency of the company.
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 10% Reducing Balance
Plant & Machinery 20% Reducing Balance
Motor Vehicles 25% Reducing Balance
Fixtures & Fittings 20% Reducing Balance
Computer Equipment 20% Reducing Balance
2.4. Investment Properties
All investment properties are carried at fair value determined annually and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided for. Changes in fair value are recognised in the profit and loss account.
2.5. 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 profit and loss account as incurred.
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.
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2.7. Financial Instruments
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially measured at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
2.8. 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.
2.9. 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.
2.10. Pensions
The company operates a defined pension contribution scheme. Contributions are charged to the profit and loss account as they become payable in accordance with the rules of the scheme.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 31 (2023: 33)
31 33
4. Tangible Assets
Land & Property
Leasehold Investment Properties Plant & Machinery Motor Vehicles
£ £ £ £
Cost or Valuation
As at 1 November 2023 17,129 2,000,000 441,051 681,199
Additions 2,538 - 40,785 208,285
Disposals - - (56,000 ) (54,725 )
As at 31 October 2024 19,667 2,000,000 425,836 834,759
Depreciation
As at 1 November 2023 3,671 - 131,539 244,866
...CONTINUED
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Page 5
Provided during the period 1,600 - 61,479 131,896
Disposals - - (17,173 ) (31,638 )
As at 31 October 2024 5,271 - 175,845 345,124
Net Book Value
As at 31 October 2024 14,396 2,000,000 249,991 489,635
As at 1 November 2023 13,458 2,000,000 309,512 436,333
Fixtures & Fittings Computer Equipment Total
£ £ £
Cost or Valuation
As at 1 November 2023 122,965 39,850 3,302,194
Additions 2,935 4,723 259,266
Disposals - - (110,725 )
As at 31 October 2024 125,900 44,573 3,450,735
Depreciation
As at 1 November 2023 29,310 9,710 419,096
Provided during the period 19,123 6,611 220,709
Disposals - - (48,811 )
As at 31 October 2024 48,433 16,321 590,994
Net Book Value
As at 31 October 2024 77,467 28,252 2,859,741
As at 1 November 2023 93,655 30,140 2,883,098
5. Stocks
2024 2023
£ £
Stock for resale 372,300 350,157
6. Debtors
2024 2023
£ £
Due within one year
Trade debtors 857,648 750,118
Other debtors 1,407,891 1,197,557
2,265,539 1,947,675
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7. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Net obligations under finance lease and hire purchase contracts 151,551 130,437
Trade creditors 940,678 744,826
Bank loans and overdrafts 596,409 607,320
Other creditors 87,282 40,084
Taxation and social security 486,676 162,817
2,262,596 1,685,484
8. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Net obligations under finance lease and hire purchase contracts 501,350 491,087
Bank loans 1,005,428 1,244,528
1,506,778 1,735,615
9. Secured Creditors
Of the creditors the following amounts are secured.
2024 2023
£ £
Net obligations under finance lease and hire purchase contracts 652,901 621,523
Bank loans and overdrafts 1,601,837 1,851,848
10. Obligations Under Finance Leases and Hire Purchase
2024 2023
£ £
The future minimum finance lease payments are as follows:
Not later than one year 151,551 130,437
Later than one year and not later than five years 501,350 491,087
652,901 621,524
652,901 621,524
11. Share Capital
2024 2023
£ £
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:
2024 2023
£ £
Not later than one year 80,000 80,000
Later than one year and not later than five years 366,666 446,666
446,666 526,666
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13. Pension Commitments
The company operates a defined contribution pension scheme for .... The assets of the scheme are held separately from those of the company in an independently administered fund. At the balance sheet date unpaid contributions of £4,254 (2023 - £4,931) were due to the fund. They are included in Other Creditors.
14. Directors Advances, Credits and Guarantees
Included within Debtors are the following loans to directors:
As at 1 November 2023 Amounts advanced Amounts repaid Amounts written off As at 31 October 2024
£ £ £ £ £
Mr Simon Mayne 141,334 151,282 70,617 - 222,001
Mr Craig Chiverton - 1,700 - - 1,700
Mr Carl Shephard - 13,525 - - 13,525
The above loans are unsecured, repayable on demand and subject to 2.25% interest if not repaid within 9 months after the end of the accounting period.
15. Reserves
Fair Value Reserve
£
As at 1 November 2023 882,651
As at 31 October 2024 882,651
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