Acorah Software Products - Accounts Production 16.5.460 false true true 31 December 2023 1 January 2023 false 15 September 2025 1 January 2024 31 December 2024 31 December 2024 01562213 Mr Philip Ellin Mrs Lisa Parry Mr Dylan Jones true iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 01562213 2023-12-31 01562213 2024-12-31 01562213 2024-01-01 2024-12-31 01562213 frs-core:CurrentFinancialInstruments 2024-12-31 01562213 frs-core:Non-currentFinancialInstruments 2024-12-31 01562213 frs-core:BetweenOneFiveYears 2024-12-31 01562213 frs-core:DevelopmentCostsCapitalisedDevelopmentExpenditure 2024-01-01 2024-12-31 01562213 frs-core:FurnitureFittings 2024-12-31 01562213 frs-core:FurnitureFittings 2024-01-01 2024-12-31 01562213 frs-core:FurnitureFittings 2023-12-31 01562213 frs-core:LandBuildings frs-core:OwnedOrFreeholdAssets 2024-12-31 01562213 frs-core:LandBuildings frs-core:OwnedOrFreeholdAssets 2024-01-01 2024-12-31 01562213 frs-core:LandBuildings frs-core:OwnedOrFreeholdAssets 2023-12-31 01562213 frs-core:MotorVehicles 2024-12-31 01562213 frs-core:MotorVehicles 2024-01-01 2024-12-31 01562213 frs-core:MotorVehicles 2023-12-31 01562213 frs-core:OtherResidualIntangibleAssets 2024-12-31 01562213 frs-core:OtherResidualIntangibleAssets 2023-12-31 01562213 frs-core:PlantMachinery 2024-12-31 01562213 frs-core:PlantMachinery 2024-01-01 2024-12-31 01562213 frs-core:PlantMachinery 2023-12-31 01562213 frs-core:WithinOneYear 2024-12-31 01562213 frs-core:OtherReservesSubtotal 2024-12-31 01562213 frs-core:RevaluationReserve 2023-12-31 01562213 frs-core:RevaluationReserve 2024-12-31 01562213 frs-core:SharePremium 2024-12-31 01562213 frs-core:ShareCapital 2024-12-31 01562213 frs-core:RetainedEarningsAccumulatedLosses 2024-01-01 2024-12-31 01562213 frs-core:RetainedEarningsAccumulatedLosses 2024-12-31 01562213 frs-bus:PrivateLimitedCompanyLtd 2024-01-01 2024-12-31 01562213 frs-bus:FilletedAccounts 2024-01-01 2024-12-31 01562213 frs-bus:SmallEntities 2024-01-01 2024-12-31 01562213 frs-bus:Audited 2024-01-01 2024-12-31 01562213 frs-bus:SmallCompaniesRegimeForAccounts 2024-01-01 2024-12-31 01562213 1 2024-01-01 2024-12-31 01562213 frs-bus:Director1 2024-01-01 2024-12-31 01562213 frs-bus:Director2 2024-01-01 2024-12-31 01562213 frs-bus:CompanySecretary1 2024-01-01 2024-12-31 01562213 frs-countries:EnglandWales 2024-01-01 2024-12-31 01562213 2022-12-31 01562213 2023-12-31 01562213 2023-01-01 2023-12-31 01562213 frs-core:CurrentFinancialInstruments 2023-12-31 01562213 frs-core:Non-currentFinancialInstruments 2023-12-31 01562213 frs-core:BetweenOneFiveYears 2023-12-31 01562213 frs-core:MotorVehicles 2023-01-01 2023-12-31 01562213 frs-core:WithinOneYear 2023-12-31 01562213 frs-core:OtherReservesSubtotal 2023-01-01 2023-12-31 01562213 frs-core:OtherReservesSubtotal 2022-12-31 01562213 frs-core:OtherReservesSubtotal 2023-12-31 01562213 frs-core:RevaluationReserve 2023-01-01 2023-12-31 01562213 frs-core:RevaluationReserve 2022-12-31 01562213 frs-core:RevaluationReserve 2023-12-31 01562213 frs-core:SharePremium 2022-12-31 01562213 frs-core:SharePremium 2023-12-31 01562213 frs-core:ShareCapital 2022-12-31 01562213 frs-core:ShareCapital 2023-12-31 01562213 frs-core:RetainedEarningsAccumulatedLosses 2023-01-01 2023-12-31 01562213 frs-core:RetainedEarningsAccumulatedLosses frs-core:PreviouslyStatedAmount 2022-12-31 01562213 frs-core:RetainedEarningsAccumulatedLosses 2023-12-31
Registered number: 01562213
NHC Technology Limited
Financial Statements
For The Year Ended 31 December 2024
Contents
Page
Balance Sheet 1—2
Statement of Changes in Equity 3
Notes to the Financial Statements 4—9
Page 1
Balance Sheet
Registered number: 01562213
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 5 2,270,903 2,306,600
2,270,903 2,306,600
CURRENT ASSETS
Stocks 6 1,009,918 1,030,178
Debtors 7 1,581,151 1,587,057
Cash at bank and in hand 1,393 1,199
2,592,462 2,618,434
Creditors: Amounts Falling Due Within One Year 8 (437,118 ) (515,138 )
NET CURRENT ASSETS (LIABILITIES) 2,155,344 2,103,296
TOTAL ASSETS LESS CURRENT LIABILITIES 4,426,247 4,409,896
Creditors: Amounts Falling Due After More Than One Year 9 (42,489 ) (55,717 )
PROVISIONS FOR LIABILITIES
Deferred Taxation (114,897 ) (19,597 )
NET ASSETS 4,268,861 4,334,582
CAPITAL AND RESERVES
Called up share capital 11 50 50
Share premium account 215,675 215,675
Revaluation reserve 13 841,053 841,053
Other reserves 1,000 1,000
Profit and Loss Account 3,211,083 3,276,804
SHAREHOLDERS' FUNDS 4,268,861 4,334,582
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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 Philip Ellin
Director
15 September 2025
The notes on pages 4 to 9 form part of these financial statements.
Page 2
Page 3
Statement of Changes in Equity
Share Capital Share Premium Revaluation reserve Other reserves
£ £ £ £
As at 1 January 2023 50 215,675 363,415 1,000
Profit for year - - - -
Net investment property revaluation reserve - - 477,638 -
Other comprehensive income for the year - - 477,638 -
Total comprehensive income for the year - - 477,638 -
Transfer from revaluation reserve - - - -
As at 31 December 2023 and 1 January 2024 50 215,675 841,053 1,000
Loss for the year and total comprehensive income - - - -
As at 31 December 2024 50 215,675 841,053 1,000
Profit and Loss Account Total
£ £
As at 1 January 2023 3,140,888 3,721,028
Profit for year 139,857 139,857
Net investment property revaluation reserve - 477,638
Other comprehensive income for the year - 477,638
Total comprehensive income for the year 139,857 617,495
Transfer from revaluation reserve (3,941) (3,941)
As at 31 December 2023 and 1 January 2024 3,276,804 4,334,582
Loss for the year and total comprehensive income (65,721 ) (65,721)
As at 31 December 2024 3,211,083 4,268,861
Page 3
Page 4
Notes to the Financial Statements
1. General Information
NHC Technology Limited is a private company, limited by shares, incorporated in England & Wales, registered number 01562213 . The registered office is Unit 1 Colomendy Industrial Estate, Rhyl Road, Denbigh, Denbighshire, Clwyd, LL16 5TS.
The presentation currency of the financial statements is the Pound Sterling (£).
Accounts are rounded to the nearest pound.
The accounts represent the company as an individual entity.
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
The company's business activities, together with the factors likely to affect its future development and position, are set out in the Business Review section of the directors report in the consolidated financial statements.
The company is expected to continue to generate positive cash flows on its own accounts for the foreseeable future. The company participates in the group's centralised treasury arrangements and so shares banking arrangements with its parent and fellow subsidiaries.
The directors, having assessed the responses of the directors of the company's parent NHC Holdings Limited to their enquiries have no reason to believe that a material uncertainty exists that may cast significant doubt about the ability of the NHC Holdings Limited group to continue as a going concern or its ability to continue with the
current banking arrangements.
On the basis of their assessment of the company's financial position and of the enquiries made of the directors of NHC Holdings Limited, the company directors have a reasonable expectation that the company will be able to continue in the operational existence for the foreseeable future. Thus the going concern basis of accounting in
preparing the annual financial statements has been used.
2.3. Turnover
Turnover represents the value of goods sold and services supplied to customers during the year net of discounts and value added tax. Turnover is recognised upon delivery of goods. Turnover on services is recognised on completion of the service at the customers' premises.
2.4. Intangible Fixed Assets and Amortisation - Other Intangible
Where appropriate expenditure on trademarks is written off in the year in which it is incurred.
The cost of patents are amortised over their expected useful economic lives on a straight line basis. Any permanent impairment in carrying value is written off through the profit and loss account.
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:
Freehold 2% on cost
Plant & Machinery at varying rates on cost
Motor Vehicles 25% on cost
Fixtures & Fittings at varying rates on cost
2.6. 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.
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2.7. 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.
2.8. Stocks and Work in Progress
Stocks are stated at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items. Cost is determined on a true cost basis.
The cost of finished goods and goods for resale comprises of materials, direct labour and attributable production overheads. Net realisable value is based on estimated selling price less any further costs expected to be incurred to completion and disposal.
2.9. 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.
2.10. 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.
2.11. 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.
2.12. Research and development
Expenditure on research and development is written off in the year in which it is incurred.
2.13. Warranty provision
Provision is made for liabilities arising in respect of expected warranty claims.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 54 (2023: 52)
54 52
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4. Intangible Assets
Other
£
Cost
As at 1 January 2024 200,000
As at 31 December 2024 200,000
Amortisation
As at 1 January 2024 200,000
As at 31 December 2024 200,000
Net Book Value
As at 31 December 2024 -
As at 1 January 2024 -
5. Tangible Assets
Land & Property
Freehold Plant & Machinery Motor Vehicles Fixtures & Fittings Total
£ £ £ £ £
Cost or Valuation
As at 1 January 2024 2,000,000 1,003,901 568,911 382,297 3,955,109
Additions - 2,970 34,700 22,938 60,608
As at 31 December 2024 2,000,000 1,006,871 603,611 405,235 4,015,717
Depreciation
As at 1 January 2024 - 897,657 403,126 347,726 1,648,509
Provided during the period - 30,885 51,526 13,894 96,305
As at 31 December 2024 - 928,542 454,652 361,620 1,744,814
Net Book Value
As at 31 December 2024 2,000,000 78,329 148,959 43,615 2,270,903
As at 1 January 2024 2,000,000 106,244 165,785 34,571 2,306,600
Included above are assets held under finance leases or hire purchase contracts with a net book value as follows:
2024 2023
£ £
Motor Vehicles 97,742 133,284
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The freehold property was revalued by Legat Owen in October 2023 and was valued at £2,000,000.
If the freehold properties had not been revalued, they would have been included in the balance sheet at cost of £1,287,476 (2023: £1,287,476) and cumulative depreciation of £248,549 (2023; £223,618).
Land & Property
Freehold Plant & Machinery Motor Vehicles Fixtures & Fittings Total
£ £ £ £ £
At cost 1,287,476 1,006,871 603,611 405,235 3,303,193
At valuation 712,524 - - - 712,524
2,000,000 1,006,871 603,611 405,235 4,015,717
The value of land in freehold land and buildings is £40,921.
If the following tangible fixed assets had been accounted for under historical cost accounting rules, the amounts would be:
Land & Property
Freehold
£
Cost 1,287,476
Accumulated depreciation and impairment 248,549
Carrying amount 1,038,927
6. Stocks
2024 2023
£ £
Stock 1,009,918 1,030,178
7. Debtors
2024 2023
£ £
Due within one year
Trade debtors 3,272 17,270
Amounts owed by group undertakings 1,522,656 1,444,201
Other debtors 55,223 125,586
1,581,151 1,587,057
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8. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Net obligations under finance lease and hire purchase contracts 13,228 12,040
Trade creditors 190,605 237,165
Other creditors 179,265 206,535
Taxation and social security 54,020 59,398
437,118 515,138
A provision has been recognised for expected claims against product guarantees. It is expected that this expenditure will be incurred over the period of the guarantee. The provision, the amount of which has not been disclosed as it is considered to be commercially sensitive, has not been discounted since the effect of discounting is not material.
9. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Net obligations under finance lease and hire purchase contracts 42,489 55,717
10. Obligations Under Finance Leases and Hire Purchase
2024 2023
£ £
The future minimum finance lease payments are as follows:
Not later than one year 13,228 12,040
Later than one year and not later than five years 42,489 55,717
55,717 67,757
55,717 67,757
11. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 50 50
12. Contingent Liabilities
The company has given composite cross guarantees relating to the bank borrowing of certain subsidiary companies. These borrowings amounted to £nil at the year end.
13. Reserves
Revaluation Reserve
£
As at 1 January 2024 841,053
As at 31 December 2024 841,053
Share Premium
This reserve records the amount above the nominal value of shares sold, less transaction costs.
Revaluation reserve
The revaluation reserve relates to a surplus on revaluation of freehold properties.
Share Capital Redemption
This reserve records the nominal value of shares repurchased by the company.
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14. Related Party Transactions
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.
NHC Holdings Limited, whose registered office is the same as NHC Technology Limited, is the ultimate parent company and draws up consolidated group financial statements of which NHC Technology Limited is a member.
15. FRC's Ethical Standard - Provision Available for Small Entities
In common with other businesses of our size and nature we use our auditors to prepare and submit returns to the tax authorities and assist with the preparation of the financial statements.
16. Ultimate Controlling Party
The company's ultimate controlling party is the board of Directors.
17. Audit Information
The auditor's report on the accounts of NHC Technology Limited for the year ended 31 December 2024 was unqualified.
The auditor's report was signed by Kate Wood FCA FCCA (Senior Statutory Auditor) for and on behalf of JWR Audit Limited , Statutory Auditor.
JWR Audit Limited
24 Picton House Hussar Court
Westside View
Waterlooville
Hampshire
PO7 7SQ
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