Acorah Software Products - Accounts Production 16.4.675 false true true 31 March 2024 1 April 2023 false 1 April 2024 31 March 2025 31 March 2025 10567344 Mr Neil Patrick Mrs Laura Patrick iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 10567344 2024-03-31 10567344 2025-03-31 10567344 2024-04-01 2025-03-31 10567344 frs-core:CurrentFinancialInstruments 2025-03-31 10567344 frs-core:Non-currentFinancialInstruments 2025-03-31 10567344 frs-core:BetweenOneFiveYears 2025-03-31 10567344 frs-core:ComputerEquipment 2025-03-31 10567344 frs-core:ComputerEquipment 2024-04-01 2025-03-31 10567344 frs-core:ComputerEquipment 2024-03-31 10567344 frs-core:FurnitureFittings 2025-03-31 10567344 frs-core:FurnitureFittings 2024-04-01 2025-03-31 10567344 frs-core:FurnitureFittings 2024-03-31 10567344 frs-core:NetGoodwill 2025-03-31 10567344 frs-core:NetGoodwill 2024-04-01 2025-03-31 10567344 frs-core:NetGoodwill 2024-03-31 10567344 frs-core:MotorVehicles 2025-03-31 10567344 frs-core:MotorVehicles 2024-04-01 2025-03-31 10567344 frs-core:MotorVehicles 2024-03-31 10567344 frs-core:PlantMachinery 2025-03-31 10567344 frs-core:PlantMachinery 2024-04-01 2025-03-31 10567344 frs-core:PlantMachinery 2024-03-31 10567344 frs-core:WithinOneYear 2025-03-31 10567344 frs-core:ShareCapital 2025-03-31 10567344 frs-core:RetainedEarningsAccumulatedLosses 2025-03-31 10567344 frs-bus:PrivateLimitedCompanyLtd 2024-04-01 2025-03-31 10567344 frs-bus:FilletedAccounts 2024-04-01 2025-03-31 10567344 frs-bus:SmallEntities 2024-04-01 2025-03-31 10567344 frs-bus:AuditExempt-NoAccountantsReport 2024-04-01 2025-03-31 10567344 frs-bus:SmallCompaniesRegimeForAccounts 2024-04-01 2025-03-31 10567344 frs-bus:Director1 2024-04-01 2025-03-31 10567344 frs-bus:Director2 2024-04-01 2025-03-31 10567344 frs-countries:EnglandWales 2024-04-01 2025-03-31 10567344 2023-03-31 10567344 2024-03-31 10567344 2023-04-01 2024-03-31 10567344 frs-core:CurrentFinancialInstruments 2024-03-31 10567344 frs-core:Non-currentFinancialInstruments 2024-03-31 10567344 frs-core:BetweenOneFiveYears 2024-03-31 10567344 frs-core:WithinOneYear 2024-03-31 10567344 frs-core:ShareCapital 2024-03-31 10567344 frs-core:RetainedEarningsAccumulatedLosses 2024-03-31
Registered number: 10567344
N.K.Patrick Electrical Ltd
Unaudited Financial Statements
For The Year Ended 31 March 2025
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—6
Page 1
Balance Sheet
Registered number: 10567344
2025 2024
Notes £ £ £ £
FIXED ASSETS
Intangible Assets 4 6,000 9,000
Tangible Assets 5 30,189 34,890
36,189 43,890
CURRENT ASSETS
Stocks 6 10,000 10,000
Debtors 7 12,603 17,396
Cash at bank and in hand 3,624 3,500
26,227 30,896
Creditors: Amounts Falling Due Within One Year 8 (50,879 ) (57,814 )
NET CURRENT ASSETS (LIABILITIES) (24,652 ) (26,918 )
TOTAL ASSETS LESS CURRENT LIABILITIES 11,537 16,972
Creditors: Amounts Falling Due After More Than One Year 9 (29,111 ) (39,495 )
PROVISIONS FOR LIABILITIES
Deferred Taxation (5,488 ) (5,064 )
NET LIABILITIES (23,062 ) (27,587 )
CAPITAL AND RESERVES
Called up share capital 11 100 100
Profit and Loss Account (23,162 ) (27,687 )
SHAREHOLDERS' FUNDS (23,062) (27,587)
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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 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 Neil Patrick
Director
12 August 2025
The notes on pages 3 to 6 form part of these financial statements.
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Notes to the Financial Statements
1. General Information
N.K.Patrick Electrical Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 10567344 . The registered office is Atherstone House, Newton Road, Castle Acre, King's Lynn, Norfolk, PE32 2AZ.
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. Going Concern Disclosure
At 31 March 2025 the company's current liabilities exceeded its current assets by £24,652 (2024: £26,918). The accounts have therefore been prepared on a going concern basis, the validity of which depends on support continuing to be made available or alternative funding being arranged. Should the company be unable to continue trading, adjustments would be made to reduce the value of the fixed assets to their recoverable amount and reclassify them as current assets, and to provide for any further liabilities which might arise.
2.3. Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.
2.4. 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 profit and loss account over its estimated economic life of 10 years.
2.5. 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:
Improvements to Property Not applicable
Motor Vehicles 25% on reducing balance
Equipment 25% on reducing balance
Office Equipment 33% on cost
2.6. 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 the profit and loss account as incurred.
2.7. Stocks and Work in Progress
Stock is valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.
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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. 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 year 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 asset reflects 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 or deferred tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 2 (2024: 2)
2 2
4. Intangible Assets
Goodwill
£
Cost
As at 1 April 2024 30,000
As at 31 March 2025 30,000
Amortisation
As at 1 April 2024 21,000
Provided during the period 3,000
As at 31 March 2025 24,000
Net Book Value
As at 31 March 2025 6,000
As at 1 April 2024 9,000
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5. Tangible Assets
Improvements to Property Motor Vehicles Equipment Office Equipment Total
£ £ £ £ £
Cost
As at 1 April 2024 8,239 32,500 20,555 1,047 62,341
Additions - - 2,288 - 2,288
As at 31 March 2025 8,239 32,500 22,843 1,047 64,629
Depreciation
As at 1 April 2024 - 13,434 12,970 1,047 27,451
Provided during the period - 4,766 2,223 - 6,989
As at 31 March 2025 - 18,200 15,193 1,047 34,440
Net Book Value
As at 31 March 2025 8,239 14,300 7,650 - 30,189
As at 1 April 2024 8,239 19,066 7,585 - 34,890
6. Stocks
2025 2024
£ £
Stock 10,000 10,000
7. Debtors
2025 2024
£ £
Due within one year
Trade debtors 7,939 13,320
Prepayments and accrued income - 594
Other debtors 4,664 3,482
12,603 17,396
8. Creditors: Amounts Falling Due Within One Year
2025 2024
£ £
Net obligations under finance lease and hire purchase contracts 6,027 6,027
Trade creditors 4,376 10,199
Bank loans and overdrafts 20,387 23,666
Corporation tax 13,939 7,934
Social security & other taxes 2,323 2,183
...CONTINUED
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Other creditors 1,056 1,888
Accrued expenses 1,463 1,440
Directors' loan accounts 1,308 4,477
50,879 57,814
9. Creditors: Amounts Falling Due After More Than One Year
2025 2024
£ £
Net obligations under finance lease and hire purchase contracts 9,899 15,926
Bank loans 19,212 23,569
29,111 39,495
10. Obligations Under Finance Leases and Hire Purchase
2025 2024
£ £
The future minimum finance lease payments are as follows:
Not later than one year 6,027 6,027
Later than one year and not later than five years 9,899 15,926
15,926 21,953
15,926 21,953
11. Share Capital
2025 2024
£ £
Allotted, Called up and fully paid 100 100
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