Acorah Software Products - Accounts Production 16.5.460 false true 31 December 2023 1 January 2023 false 1 January 2024 31 December 2024 31 December 2024 02620798 R A Bennetts M S Ewan M S Ewan iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 02620798 2023-12-31 02620798 2024-12-31 02620798 2024-01-01 2024-12-31 02620798 frs-core:CurrentFinancialInstruments 2024-12-31 02620798 frs-core:Non-currentFinancialInstruments 2024-12-31 02620798 frs-core:LandBuildings frs-core:OwnedOrFreeholdAssets 2024-12-31 02620798 frs-core:LandBuildings frs-core:OwnedOrFreeholdAssets 2024-01-01 2024-12-31 02620798 frs-core:LandBuildings frs-core:OwnedOrFreeholdAssets 2023-12-31 02620798 frs-core:PlantMachinery 2024-12-31 02620798 frs-core:PlantMachinery 2024-01-01 2024-12-31 02620798 frs-core:PlantMachinery 2023-12-31 02620798 frs-core:ShareCapital 2024-12-31 02620798 frs-core:RetainedEarningsAccumulatedLosses 2024-12-31 02620798 frs-bus:PrivateLimitedCompanyLtd 2024-01-01 2024-12-31 02620798 frs-bus:FilletedAccounts 2024-01-01 2024-12-31 02620798 frs-bus:SmallEntities 2024-01-01 2024-12-31 02620798 frs-bus:AuditExempt-NoAccountantsReport 2024-01-01 2024-12-31 02620798 frs-bus:SmallCompaniesRegimeForAccounts 2024-01-01 2024-12-31 02620798 frs-bus:Director1 2024-01-01 2024-12-31 02620798 frs-bus:Director2 2024-01-01 2024-12-31 02620798 frs-bus:CompanySecretary1 2024-01-01 2024-12-31 02620798 frs-countries:EnglandWales 2024-01-01 2024-12-31 02620798 2022-12-31 02620798 2023-12-31 02620798 2023-01-01 2023-12-31 02620798 frs-core:CurrentFinancialInstruments 2023-12-31 02620798 frs-core:Non-currentFinancialInstruments 2023-12-31 02620798 frs-core:ShareCapital 2023-12-31 02620798 frs-core:RetainedEarningsAccumulatedLosses 2023-12-31
Registered number: 02620798
West Surrey Racing Limited
Unaudited Financial Statements
For The Year Ended 31 December 2024
Michael Price Associates Limited
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 02620798
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 30,190 30,969
30,190 30,969
CURRENT ASSETS
Stocks 5 160,000 160,000
Debtors 6 914,395 1,095,586
Cash at bank and in hand 10,722 2,008
1,085,117 1,257,594
Creditors: Amounts Falling Due Within One Year 7 (537,772 ) (672,791 )
NET CURRENT ASSETS (LIABILITIES) 547,345 584,803
TOTAL ASSETS LESS CURRENT LIABILITIES 577,535 615,772
Creditors: Amounts Falling Due After More Than One Year 8 (6,667 ) (16,667 )
NET ASSETS 570,868 599,105
CAPITAL AND RESERVES
Called up share capital 9 100 100
Profit and Loss Account 570,768 599,005
SHAREHOLDERS' FUNDS 570,868 599,105
Page 1
Page 2
For the year ending 31 December 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
M S Ewan
Director
05/09/2025
The notes on pages 3 to 5 form part of these financial statements.
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Page 3
Notes to the Financial Statements
1. General Information
West Surrey Racing Limited is a private company, limited by shares, incorporated in England & Wales, registered number 02620798 . The registered office is Longwood Business Park, Fordbridge Road, Sunbury-On-Thames, Middlesex, TW16 6AZ.
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. 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:
Freehold 20% on cost
Plant & Machinery 25% on reducing balance
2.4. 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.
2.5. 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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3. Average Number of Employees
Average number of employees, including directors, during the year was: 12 (2023: 12)
12 12
4. Tangible Assets
Land & Property
Freehold Plant & Machinery Total
£ £ £
Cost
As at 1 January 2024 157,499 844,441 1,001,940
Additions - 17,370 17,370
Disposals - (14,377 ) (14,377 )
As at 31 December 2024 157,499 847,434 1,004,933
Depreciation
As at 1 January 2024 157,498 813,473 970,971
Provided during the period - 10,062 10,062
Disposals - (6,290 ) (6,290 )
As at 31 December 2024 157,498 817,245 974,743
Net Book Value
As at 31 December 2024 1 30,189 30,190
As at 1 January 2024 1 30,968 30,969
5. Stocks
2024 2023
£ £
Stock 160,000 160,000
6. Debtors
2024 2023
£ £
Due within one year
Trade debtors 120,767 326,587
Prepayments and accrued income 71,000 110,500
Other debtors 581,892 -
Corporation tax recoverable assets 140,736 -
Amounts owed by group undertakings - 658,499
914,395 1,095,586
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7. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 79,753 247,798
Bank loans and overdrafts 10,000 45,468
Other taxes and social security 17,095 32,815
VAT 34,080 51,693
Other creditors - 1,429
Accruals and deferred income 396,844 170,556
Directors' loan accounts - 123,032
537,772 672,791
8. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Bank loans 6,667 16,667
9. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 100 100
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