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Registered number: 12219199
Falcon Plant Ltd
Unaudited Financial Statements
For The Year Ended 30 September 2024
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—6
Page 1
Balance Sheet
Registered number: 12219199
2024 2023
as restated
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 1,479,576 1,032,323
1,479,576 1,032,323
CURRENT ASSETS
Stocks 5 22,084 1,022
Debtors 6 285,425 290,543
Cash at bank and in hand 13,151 11,398
320,660 302,963
Creditors: Amounts Falling Due Within One Year 7 (886,126 ) (638,267 )
NET CURRENT ASSETS (LIABILITIES) (565,466 ) (335,304 )
TOTAL ASSETS LESS CURRENT LIABILITIES 914,110 697,019
Creditors: Amounts Falling Due After More Than One Year 8 (797,946 ) (685,056 )
PROVISIONS FOR LIABILITIES
Deferred Taxation (84,853 ) (92,442 )
NET ASSETS/(LIABILITIES) 31,311 (80,479 )
CAPITAL AND RESERVES
Called up share capital 11 10 10
Profit and Loss Account 31,301 (80,489 )
SHAREHOLDERS' FUNDS 31,311 (80,479)
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For the year ending 30 September 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
A Walsh
Director
24 September 2025
The notes on pages 3 to 6 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Falcon Plant Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 12219199 . The registered office is Unit 1 Lime Kiln Farm, Charlton Road, Keynsham, Bristol, BS31 2TB.
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:
Plant & Machinery 12.5% reducing balance
Motor Vehicles 25% reducing balance
Fixtures & Fittings 20% straight line
Computer Equipment 33% straight line
2.4. 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.
2.5. 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.
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2.6. 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: 4 (2023: 4)
4 4
4. Tangible Assets
Plant & Machinery Motor Vehicles Fixtures & Fittings Computer Equipment Total
£ £ £ £ £
Cost
As at 1 October 2023 1,325,576 160,319 659 2,295 1,488,849
Additions 588,284 10,000 15,100 - 613,384
As at 30 September 2024 1,913,860 170,319 15,759 2,295 2,102,233
Depreciation
As at 1 October 2023 395,847 58,568 316 1,795 456,526
Provided during the period 137,988 26,479 1,310 354 166,131
As at 30 September 2024 533,835 85,047 1,626 2,149 622,657
Net Book Value
As at 30 September 2024 1,380,025 85,272 14,133 146 1,479,576
As at 1 October 2023 929,729 101,751 343 500 1,032,323
Included above are assets held under finance leases or hire purchase contracts with a net book value as follows:
2024 2023
as restated
£ £
Plant & Machinery 1,313,449 884,666
Motor Vehicles 76,313 101,751
1,389,762 986,417
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5. Stocks
2024 2023
as restated
£ £
Stock 22,084 1,022
6. Debtors
2024 2023
as restated
£ £
Due within one year
Trade debtors 274,751 290,483
Other debtors 10,674 60
285,425 290,543
7. Creditors: Amounts Falling Due Within One Year
2024 2023
as restated
£ £
Net obligations under finance lease and hire purchase contracts 403,695 338,318
Trade creditors 169,339 143,181
Bank loans and overdrafts 6,214 6,214
Other loans 10,550 -
Amounts owed to participating interests 172,550 -
Other creditors 122,019 105,936
Taxation and social security 1,759 44,618
886,126 638,267
8. Creditors: Amounts Falling Due After More Than One Year
2024 2023
as restated
£ £
Net obligations under finance lease and hire purchase contracts 684,906 587,744
Bank loans 26,994 32,312
Other loans 36,046 -
Other creditors 50,000 65,000
797,946 685,056
9. Secured Creditors
The hire purchase liablities are secured against the fixed assets to which they relate.
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10. Obligations Under Finance Leases and Hire Purchase
2024 2023
as restated
£ £
The future minimum finance lease payments are as follows:
Not later than one year 403,695 338,318
Later than one year and not later than five years 684,906 587,744
1,088,601 926,062
1,088,601 926,062
11. Share Capital
2024 2023
as restated
£ £
Allotted, Called up and fully paid 10 10
12. Related Party Transactions
At the balance sheet date the company owed a connected company £172,550 (2023: £Nil). This loan is unsecured, interest free and repayable on demand.
At the balance sheet date the company owed the directors £199 (2023: £6). This loan is unsecured, interest free and repayable on demand.
13. Prior period adjustment
The comparatives have been restated to correctly reflect a disposal of fixed assets, a decrease in hire purchase liablities, alongside a decrease to stocks and work-in-progress. The overall impact on the financial statements is to reduce net assets as at 30 September 2023 and 30 September 2022 by £464,682. There has been no impact to the profit reported in the year to 30 September 2023. There has been no impact to corporation tax payable.
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