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 06021382 Mr Timothy Paterson-Brown Mr Trevor Coultan iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 06021382 2023-12-31 06021382 2024-12-31 06021382 2024-01-01 2024-12-31 06021382 frs-core:CurrentFinancialInstruments 2024-12-31 06021382 frs-core:Non-currentFinancialInstruments 2024-12-31 06021382 frs-core:ComputerEquipment 2024-12-31 06021382 frs-core:ComputerEquipment 2024-01-01 2024-12-31 06021382 frs-core:ComputerEquipment 2023-12-31 06021382 frs-core:FurnitureFittings 2024-12-31 06021382 frs-core:FurnitureFittings 2024-01-01 2024-12-31 06021382 frs-core:FurnitureFittings 2023-12-31 06021382 frs-core:LandBuildings frs-core:OwnedOrFreeholdAssets 2024-12-31 06021382 frs-core:LandBuildings frs-core:OwnedOrFreeholdAssets 2024-01-01 2024-12-31 06021382 frs-core:LandBuildings frs-core:OwnedOrFreeholdAssets 2023-12-31 06021382 frs-core:MotorVehicles 2024-12-31 06021382 frs-core:MotorVehicles 2024-01-01 2024-12-31 06021382 frs-core:MotorVehicles 2023-12-31 06021382 frs-core:PlantMachinery 2024-12-31 06021382 frs-core:PlantMachinery 2024-01-01 2024-12-31 06021382 frs-core:PlantMachinery 2023-12-31 06021382 frs-core:SharePremium 2024-12-31 06021382 frs-core:ShareCapital 2024-12-31 06021382 frs-core:RetainedEarningsAccumulatedLosses 2024-12-31 06021382 frs-bus:PrivateLimitedCompanyLtd 2024-01-01 2024-12-31 06021382 frs-bus:FilletedAccounts 2024-01-01 2024-12-31 06021382 frs-bus:SmallEntities 2024-01-01 2024-12-31 06021382 frs-bus:AuditExempt-NoAccountantsReport 2024-01-01 2024-12-31 06021382 frs-bus:SmallCompaniesRegimeForAccounts 2024-01-01 2024-12-31 06021382 frs-bus:Director1 2024-01-01 2024-12-31 06021382 frs-bus:Director2 2024-01-01 2024-12-31 06021382 frs-core:Non-currentFinancialInstruments 1 2024-12-31 06021382 frs-countries:EnglandWales 2024-01-01 2024-12-31 06021382 2022-12-31 06021382 2023-12-31 06021382 2023-01-01 2023-12-31 06021382 frs-core:CurrentFinancialInstruments 2023-12-31 06021382 frs-core:Non-currentFinancialInstruments 2023-12-31 06021382 frs-core:BetweenOneFiveYears 2023-12-31 06021382 frs-core:WithinOneYear 2023-12-31 06021382 frs-core:SharePremium 2023-12-31 06021382 frs-core:ShareCapital 2023-12-31 06021382 frs-core:RetainedEarningsAccumulatedLosses 2023-12-31 06021382 frs-core:Non-currentFinancialInstruments 1 2023-12-31
Registered number: 06021382
Richard Maxwell Limited
Unaudited Financial Statements
For The Year Ended 31 December 2024
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 06021382
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 3 3,201,596 2,854,814
Investment Properties 4 2,278,912 2,278,912
5,480,508 5,133,726
CURRENT ASSETS
Stocks 5 236,742 243,607
Debtors 6 668,979 1,273,876
Cash at bank and in hand 210,629 29,383
1,116,350 1,546,866
Creditors: Amounts Falling Due Within One Year 7 (853,635 ) (729,576 )
NET CURRENT ASSETS (LIABILITIES) 262,715 817,290
TOTAL ASSETS LESS CURRENT LIABILITIES 5,743,223 5,951,016
Creditors: Amounts Falling Due After More Than One Year 8 (2,386,837 ) (6,141,860 )
PROVISIONS FOR LIABILITIES
Deferred Taxation (159,001 ) (159,001 )
NET ASSETS/(LIABILITIES) 3,197,385 (349,845 )
CAPITAL AND RESERVES
Called up share capital 10 187 75
Share premium account 429,959 -
Profit and Loss Account 2,767,239 (349,920 )
SHAREHOLDERS' FUNDS 3,197,385 (349,845)
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
Mr Trevor Coultan
Director
11/09/2025
The notes on pages 3 to 5 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. Accounting Policies
1.1. 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.
1.2. 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.
1.3. 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 2% straight line
Plant & Machinery 15% reducing balance
Motor Vehicles 15% reducing balance
Fixtures & Fittings 15% reducing balance
Computer Equipment 25% reducing balance
1.4. 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.
1.5. 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 the profit and loss account as incurred.
1.6. 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.
2. Average Number of Employees
Average number of employees, including directors, during the year was: 5 (2023: 5)
5 5
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3. Tangible Assets
Land & Property
Freehold Plant & Machinery Motor Vehicles Fixtures & Fittings
£ £ £ £
Cost
As at 1 January 2024 352,455 4,593,840 18,040 4,178
Additions 242,425 453,726 1,500 575
Disposals - (87,602 ) - -
As at 31 December 2024 594,880 4,959,964 19,540 4,753
Depreciation
As at 1 January 2024 32,461 2,077,248 4,619 2,594
Provided during the period 11,321 307,042 2,238 324
Disposals - (55,043 ) - -
As at 31 December 2024 43,782 2,329,247 6,857 2,918
Net Book Value
As at 31 December 2024 551,098 2,630,717 12,683 1,835
As at 1 January 2024 319,994 2,516,592 13,421 1,584
Computer Equipment Total
£ £
Cost
As at 1 January 2024 18,445 4,986,958
Additions 7,694 705,920
Disposals - (87,602 )
As at 31 December 2024 26,139 5,605,276
Depreciation
As at 1 January 2024 15,222 2,132,144
Provided during the period 5,654 326,579
Disposals - (55,043 )
As at 31 December 2024 20,876 2,403,680
Net Book Value
As at 31 December 2024 5,263 3,201,596
As at 1 January 2024 3,223 2,854,814
4. Investment Property
2024
£
Fair Value
As at 1 January 2024 and 31 December 2024 2,278,912
Page 4
Page 5
5. Stocks
2024 2023
£ £
Stock 236,742 243,607
6. Debtors
2024 2023
£ £
Due within one year
Trade debtors 69,298 535,522
Prepayments and accrued income 389,294 537,503
Other debtors 143,988 145,134
VAT 66,399 55,717
668,979 1,273,876
7. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Net obligations under finance lease and hire purchase contracts - 24,250
Trade creditors 721,737 600,586
Other taxes and social security 7,102 4,613
Accruals and deferred income 124,796 100,127
853,635 729,576
8. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Net obligations under finance lease and hire purchase contracts - 36,376
Other creditors 227,000 4,014,334
Amounts due to other group entities 238,660 333,460
Amounts owed to parent undertaking 1,921,177 1,757,690
2,386,837 6,141,860
9. Obligations Under Finance Leases and Hire Purchase
2024 2023
£ £
The future minimum finance lease payments are as follows:
Not later than one year - 24,250
Later than one year and not later than five years - 36,376
- 60,626
- 60,626
10. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 187 75
Page 5