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 03601456 Mrs M Babb Mr B Babb Mrs M Babb iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 03601456 2023-12-31 03601456 2024-12-31 03601456 2024-01-01 2024-12-31 03601456 frs-core:CurrentFinancialInstruments 2024-12-31 03601456 frs-core:Non-currentFinancialInstruments 2024-12-31 03601456 frs-core:BetweenOneFiveYears 2024-12-31 03601456 frs-core:ComputerEquipment 2024-12-31 03601456 frs-core:ComputerEquipment 2024-01-01 2024-12-31 03601456 frs-core:ComputerEquipment 2023-12-31 03601456 frs-core:MotorVehicles 2024-12-31 03601456 frs-core:MotorVehicles 2024-01-01 2024-12-31 03601456 frs-core:MotorVehicles 2023-12-31 03601456 frs-core:PlantMachinery 2024-12-31 03601456 frs-core:PlantMachinery 2024-01-01 2024-12-31 03601456 frs-core:PlantMachinery 2023-12-31 03601456 frs-core:WithinOneYear 2024-12-31 03601456 frs-core:ShareCapital 2024-12-31 03601456 frs-core:RetainedEarningsAccumulatedLosses 2024-12-31 03601456 frs-bus:PrivateLimitedCompanyLtd 2024-01-01 2024-12-31 03601456 frs-bus:FilletedAccounts 2024-01-01 2024-12-31 03601456 frs-bus:SmallEntities 2024-01-01 2024-12-31 03601456 frs-bus:AuditExempt-NoAccountantsReport 2024-01-01 2024-12-31 03601456 frs-bus:SmallCompaniesRegimeForAccounts 2024-01-01 2024-12-31 03601456 frs-core:UnlistedNon-exchangeTraded 2024-12-31 03601456 frs-core:UnlistedNon-exchangeTraded 2023-12-31 03601456 frs-core:CostValuation frs-core:UnlistedNon-exchangeTraded 2023-12-31 03601456 frs-core:CostValuation frs-core:UnlistedNon-exchangeTraded 2024-12-31 03601456 frs-core:ProvisionsForImpairmentInvestments frs-core:UnlistedNon-exchangeTraded 2023-12-31 03601456 frs-core:ProvisionsForImpairmentInvestments frs-core:UnlistedNon-exchangeTraded 2024-12-31 03601456 frs-bus:Director1 2024-01-01 2024-12-31 03601456 frs-bus:Director1 2023-12-31 03601456 frs-bus:Director1 2024-12-31 03601456 frs-bus:Director2 2024-01-01 2024-12-31 03601456 frs-bus:CompanySecretary1 2024-01-01 2024-12-31 03601456 frs-countries:EnglandWales 2024-01-01 2024-12-31 03601456 2022-12-31 03601456 2023-12-31 03601456 2023-01-01 2023-12-31 03601456 frs-core:CurrentFinancialInstruments 2023-12-31 03601456 frs-core:Non-currentFinancialInstruments 2023-12-31 03601456 frs-core:BetweenOneFiveYears 2023-12-31 03601456 frs-core:WithinOneYear 2023-12-31 03601456 frs-core:ShareCapital 2023-12-31 03601456 frs-core:RetainedEarningsAccumulatedLosses 2023-12-31
Registered number: 03601456
B.J. Babb Limited
Financial Statements
For The Year Ended 31 December 2024
Affinity Associates (AU) Limited
Office 43, The Cobalt Building
1600 Eureka Park, Lower Pemberton
Ashford
Kent
TN25 4BF
Contents
Page
Statement of Financial Position 1—2
Notes to the Financial Statements 3—6
Page 1
Statement of Financial Position
Registered number: 03601456
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 126,394 101,653
Investment Properties 5 1,050,000 1,050,000
Investments 6 101 101
1,176,495 1,151,754
CURRENT ASSETS
Stocks 7 40,750 40,000
Debtors 8 1,494,484 2,142,924
Cash at bank and in hand 87,138 299,072
1,622,372 2,481,996
Creditors: Amounts Falling Due Within One Year 9 (662,115 ) (789,459 )
NET CURRENT ASSETS (LIABILITIES) 960,257 1,692,537
TOTAL ASSETS LESS CURRENT LIABILITIES 2,136,752 2,844,291
Creditors: Amounts Falling Due After More Than One Year 10 (684,199 ) (537,775 )
PROVISIONS FOR LIABILITIES
Deferred Taxation (51,982 ) (46,484 )
NET ASSETS 1,400,571 2,260,032
CAPITAL AND RESERVES
Called up share capital 12 2 2
Income Statement 1,400,569 2,260,030
SHAREHOLDERS' FUNDS 1,400,571 2,260,032
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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 Income Statement.
On behalf of the board
Mr B Babb
Director
6 May 2025
The notes on pages 3 to 6 form part of these financial statements.
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Page 3
Notes to the Financial Statements
1. General Information
B.J. Babb Limited is a private company, limited by shares, incorporated in England & Wales, registered number 03601456 . The registered office is Unit 2 Riverview Business Park, Station Road, Forest Row, East Sussex, RH18 5FS.
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.
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:
Plant & Machinery 25% reducing balance
Motor Vehicles 25% reducing balance
Computer Equipment 25% 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 income statement.
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 income statement 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 income statement 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.
2.7. 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.
...CONTINUED
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2.7. Taxation - continued
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 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.
2.8. Pensions
The company operates a defined pension contribution scheme. Contributions are charged to the income statement 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: 21 (2023: 25)
21 25
4. Tangible Assets
Plant & Machinery Motor Vehicles Computer Equipment Total
£ £ £ £
Cost or Valuation
As at 1 January 2024 126,440 295,516 149,242 571,198
Additions - 85,992 8,765 94,757
Disposals - (116,643 ) - (116,643 )
As at 31 December 2024 126,440 264,865 158,007 549,312
Depreciation
As at 1 January 2024 109,283 234,025 126,237 469,545
Provided during the period 4,289 15,300 7,142 26,731
Disposals - (73,358 ) - (73,358 )
As at 31 December 2024 113,572 175,967 133,379 422,918
Net Book Value
As at 31 December 2024 12,868 88,898 24,628 126,394
As at 1 January 2024 17,157 61,491 23,005 101,653
5. Investment Property
2024
£
Fair Value
As at 1 January 2024 and 31 December 2024 1,050,000
The fair value of the investment property has been arrived at on the basis of a valuation carried out at 31 December 2024 by the directors. The valuation was made on an open market value basis by reference to market evidence of transaction prices for similar properties.
The historical cost value of the investment property is £780,000.
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6. Investments
Unlisted
£
Cost
As at 1 January 2024 101
As at 31 December 2024 101
Provision
As at 1 January 2024 -
As at 31 December 2024 -
Net Book Value
As at 31 December 2024 101
As at 1 January 2024 101
7. Stocks
2024 2023
£ £
Stock 40,750 40,000
8. Debtors
2024 2023
£ £
Due within one year
Trade debtors 35,063 870,469
Other debtors 554,378 425,483
589,441 1,295,952
Due after more than one year
Amounts recoverable on contracts 905,043 846,972
1,494,484 2,142,924
9. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Net obligations under finance lease and hire purchase contracts 13,230 24,066
Trade creditors 497,974 489,362
Other creditors 21,805 24,958
Taxation and social security 129,106 251,073
662,115 789,459
Bank facilities, both current and future, are secured on a fixed and floating charges.
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10. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Net obligations under finance lease and hire purchase contracts 62,382 26,755
Bank loans 621,817 511,020
684,199 537,775
11. Obligations Under Finance Leases and Hire Purchase
2024 2023
£ £
The future minimum finance lease payments are as follows:
Not later than one year 13,230 24,066
Later than one year and not later than five years 62,382 26,755
75,612 50,821
75,612 50,821
12. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 2 2
13. Directors Advances, Credits and Guarantees
Included within Debtors are the following loans to directors:
As at 1 January 2024 Amounts advanced Amounts repaid Amounts written off As at 31 December 2024
£ £ £ £ £
Mr Brian Babb 341,160 530,727 417,160 - 454,727
The above loan is unsecured, interest free and repayable on demand.
14. Related Party Transactions
At the Balance Sheet date the company was owed £1,055 (2023 - (£262)) from B J Babb (Laurels) Limited, a subsidiary company.
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