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 02802548 Mr Samit Basak Mr Lee Gapper Mr Lee Gapper iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 02802548 2023-12-31 02802548 2024-12-31 02802548 2024-01-01 2024-12-31 02802548 frs-core:CurrentFinancialInstruments 2024-12-31 02802548 frs-core:Non-currentFinancialInstruments 2024-12-31 02802548 frs-core:ComputerEquipment 2024-12-31 02802548 frs-core:ComputerEquipment 2024-01-01 2024-12-31 02802548 frs-core:ComputerEquipment 2023-12-31 02802548 frs-core:FurnitureFittings 2024-12-31 02802548 frs-core:FurnitureFittings 2024-01-01 2024-12-31 02802548 frs-core:FurnitureFittings 2023-12-31 02802548 frs-core:LandBuildings frs-core:LeasedAssetsHeldAsLessee 2024-12-31 02802548 frs-core:LandBuildings frs-core:LeasedAssetsHeldAsLessee 2024-01-01 2024-12-31 02802548 frs-core:LandBuildings frs-core:LeasedAssetsHeldAsLessee 2023-12-31 02802548 frs-core:LandBuildings frs-core:OwnedOrFreeholdAssets 2024-12-31 02802548 frs-core:LandBuildings frs-core:OwnedOrFreeholdAssets 2024-01-01 2024-12-31 02802548 frs-core:LandBuildings frs-core:OwnedOrFreeholdAssets 2023-12-31 02802548 frs-core:MotorVehicles 2024-12-31 02802548 frs-core:MotorVehicles 2024-01-01 2024-12-31 02802548 frs-core:MotorVehicles 2023-12-31 02802548 frs-core:PlantMachinery 2024-12-31 02802548 frs-core:PlantMachinery 2024-01-01 2024-12-31 02802548 frs-core:PlantMachinery 2023-12-31 02802548 frs-core:WithinOneYear 2024-12-31 02802548 frs-core:ShareCapital 2024-12-31 02802548 frs-core:RetainedEarningsAccumulatedLosses 2024-12-31 02802548 frs-bus:PrivateLimitedCompanyLtd 2024-01-01 2024-12-31 02802548 frs-bus:FilletedAccounts 2024-01-01 2024-12-31 02802548 frs-bus:SmallEntities 2024-01-01 2024-12-31 02802548 frs-bus:AuditExempt-NoAccountantsReport 2024-01-01 2024-12-31 02802548 frs-bus:SmallCompaniesRegimeForAccounts 2024-01-01 2024-12-31 02802548 frs-bus:Director1 2024-01-01 2024-12-31 02802548 frs-bus:Director2 2024-01-01 2024-12-31 02802548 frs-bus:CompanySecretary1 2024-01-01 2024-12-31 02802548 frs-countries:EnglandWales 2024-01-01 2024-12-31 02802548 2022-12-31 02802548 2023-12-31 02802548 2023-01-01 2023-12-31 02802548 frs-core:CurrentFinancialInstruments 2023-12-31 02802548 frs-core:Non-currentFinancialInstruments 2023-12-31 02802548 frs-core:BetweenOneFiveYears 2023-12-31 02802548 frs-core:WithinOneYear 2023-12-31 02802548 frs-core:ShareCapital 2023-12-31 02802548 frs-core:RetainedEarningsAccumulatedLosses 2023-12-31
Registered number: 02802548
The Food Machinery Company Limited
Unaudited Financial Statements
For The Year Ended 31 December 2024
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—7
Page 1
Balance Sheet
Registered number: 02802548
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 132,762 153,922
132,762 153,922
CURRENT ASSETS
Stocks 5 339,637 318,658
Debtors 6 1,053,383 1,090,104
Cash at bank and in hand 360,450 237,091
1,753,470 1,645,853
Creditors: Amounts Falling Due Within One Year 7 (1,167,502 ) (1,040,912 )
NET CURRENT ASSETS (LIABILITIES) 585,968 604,941
TOTAL ASSETS LESS CURRENT LIABILITIES 718,730 758,863
Creditors: Amounts Falling Due After More Than One Year 8 (46,380 ) (100,087 )
NET ASSETS 672,350 658,776
CAPITAL AND RESERVES
Called up share capital 11 100 100
Profit and Loss Account 672,250 658,676
SHAREHOLDERS' FUNDS 672,350 658,776
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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 Lee Gapper
Director
30th September 2025
The notes on pages 3 to 7 form part of these financial statements.
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Notes to the Financial Statements
1. General Information
The Food Machinery Company Limited is a private company, limited by shares, incorporated in England & Wales, registered number 02802548 . The registered office is Fenn Corner, St Mary Hoo, Rochester, Kent, ME3 8RF.
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:
Freehold Not depreciated
Leasehold 10% straight line
Plant & Machinery 25% reducing balance
Motor Vehicles 25% reducing balance
Fixtures & Fittings 25% reducing balance
Computer Equipment 25% reducing balance
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.
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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. 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.
2.7. 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: 14 (2023: 13)
14 13
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4. Tangible Assets
Land & Property
Freehold Leasehold Plant & Machinery Motor Vehicles
£ £ £ £
Cost
As at 1 January 2024 14,285 9,650 91,315 171,513
Additions - - 12,500 9,995
Disposals - - - (30,213 )
As at 31 December 2024 14,285 9,650 103,815 151,295
Depreciation
As at 1 January 2024 - 1,496 59,071 91,862
Provided during the period - 965 9,364 20,121
Disposals - - - (20,653 )
As at 31 December 2024 - 2,461 68,435 91,330
Net Book Value
As at 31 December 2024 14,285 7,189 35,380 59,965
As at 1 January 2024 14,285 8,154 32,244 79,651
Fixtures & Fittings Computer Equipment Total
£ £ £
Cost
As at 1 January 2024 15,739 63,539 366,041
Additions - 1,346 23,841
Disposals - - (30,213 )
As at 31 December 2024 15,739 64,885 359,669
Depreciation
As at 1 January 2024 13,773 45,917 212,119
Provided during the period 492 4,499 35,441
Disposals - - (20,653 )
As at 31 December 2024 14,265 50,416 226,907
Net Book Value
As at 31 December 2024 1,474 14,469 132,762
As at 1 January 2024 1,966 17,622 153,922
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5. Stocks
2024 2023
£ £
Stock of materials 339,637 318,658
6. Debtors
2024 2023
£ £
Due within one year
Trade debtors 334,542 344,881
Amounts recoverable on contracts 396,281 312,637
Amounts owed by group undertakings 296,150 270,730
Other debtors 26,410 161,856
1,053,383 1,090,104
7. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Net obligations under finance lease and hire purchase contracts 21,116 26,347
Trade creditors 382,589 435,468
Bank loans and overdrafts 5,475 22,355
Other creditors 624,541 475,404
Taxation and social security 133,781 81,338
1,167,502 1,040,912
8. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Net obligations under finance lease and hire purchase contracts - 28,442
Bank loans 26,381 31,645
Other creditors 19,999 40,000
46,380 100,087
9. Secured Creditors
Of the creditors the following amounts are secured.
2024 2023
£ £
Bank loans and overdrafts - 18,544
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10. Obligations Under Finance Leases and Hire Purchase
2024 2023
£ £
The future minimum finance lease payments are as follows:
Not later than one year 21,116 26,347
Later than one year and not later than five years - 28,442
21,116 54,789
21,116 54,789
11. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 100 100
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