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Registered number: 09441069
Steve Manning Electrical Services Ltd
Unaudited Financial Statements
For The Year Ended 28 February 2025
Richards Associates Limited
North Lodge
Hawkesyard
Rugeley
Staffordshire
WS15 1PS
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 09441069
2025 2024
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 12,491 991
12,491 991
CURRENT ASSETS
Stocks 5 750 750
Debtors 6 2,375 5,929
Cash at bank and in hand 559 88
3,684 6,767
Creditors: Amounts Falling Due Within One Year 7 (12,094 ) (7,754 )
NET CURRENT ASSETS (LIABILITIES) (8,410 ) (987 )
TOTAL ASSETS LESS CURRENT LIABILITIES 4,081 4
PROVISIONS FOR LIABILITIES
Deferred Taxation (2,373 ) -
NET ASSETS 1,708 4
CAPITAL AND RESERVES
Called up share capital 8 4 4
Profit and Loss Account 1,704 -
SHAREHOLDERS' FUNDS 1,708 4
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For the year ending 28 February 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his 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 S Manning
Director
3 September 2025
The notes on pages 3 to 5 form part of these financial statements.
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Notes to the Financial Statements
1. General Information
Steve Manning Electrical Services Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 09441069 . The registered office is 10 Needwood Grange, Abbots Bromley, Staffordshire, WS15 3AU.
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 the time of approving the financial statements the directors have a reasonable expectation that the
company has adequate resources to continue in operational existence for the foreseeable future.
The directors continue to adopt the going concern basis of accounting in preparing financial statements.
2.3. Turnover
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.
2.4. 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 20%
Motor Vehicles 25%
Computer Equipment 33%
2.5. 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.
2.6. Financial Instruments
The company only enters in to basic financial intrument transactions that result in the recognition of financial
aseets and liabilites like trade debtors and creditors, loans from banks and other third parties and loans to
related parties.
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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.
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.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 2 (2024: 2)
2 2
4. Tangible Assets
Plant & Machinery Motor Vehicles Computer Equipment Total
£ £ £ £
Cost
As at 29 February 2024 1,565 6,500 1,863 9,928
Additions - 11,940 1,667 13,607
As at 28 February 2025 1,565 18,440 3,530 23,535
Depreciation
As at 29 February 2024 1,104 6,500 1,333 8,937
Provided during the period 119 1,244 744 2,107
As at 28 February 2025 1,223 7,744 2,077 11,044
Net Book Value
As at 28 February 2025 342 10,696 1,453 12,491
As at 29 February 2024 461 - 530 991
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5. Stocks
2025 2024
£ £
Stock 750 750
6. Debtors
2025 2024
£ £
Due within one year
Trade debtors 1,141 605
Prepayments and accrued income 1,008 1,036
Other debtors 225 1,145
Other taxes and social security 1 -
Director's loan account - 3,143
2,375 5,929
7. Creditors: Amounts Falling Due Within One Year
2025 2024
£ £
Trade creditors 2,416 3,072
Corporation tax 1,918 3,790
Other taxes and social security - 159
Accruals and deferred income 840 733
Director's loan account 6,920 -
12,094 7,754
8. Share Capital
2025 2024
£ £
Allotted, Called up and fully paid 4 4
9. Ultimate Controlling Party
The company's ultimate controlling parties are   Steven Manning & Michelle Manning by virtue of their ownership of 75% and 25% of the issued share capital in the company.
10. Working capital defecit
Current liabilities exceed current assets but the company is able to pay its debts as they fall due.
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