ACCOUNTS - Final Accounts preparation

Creditors: Amounts falling due within one year

As restated

Company registration number: 4727167

	FINANCIAL STATEMENTS
	FOR THE YEAR ENDED 31 DECEMBER 2024

	ACCORD ENGINEERING LIMITED


ACCORD ENGINEERING LIMITED REGISTERED NUMBER:4727167

STATEMENT OF FINANCIAL POSITION

AS AT 31 DECEMBER 2024

		As restated
	2024	2023
Note	£	£

Fixed assets
Tangible assets	4		737,267		692,329
			737,267		692,329
Current assets
Stocks		112,545		134,311
Debtors: amounts falling due within one year	5	950,372		978,645
Cash at bank and in hand		226,509		129,156
		1,289,426		1,242,112
Creditors: amounts falling due within one year	6	(552,477)		(611,097)
Net current assets			736,949		631,015
Total assets less current liabilities			1,474,216		1,323,344
Creditors: amounts falling due after more than one year	7		(96,447)		(214,432)
Provisions for liabilities
Deferred tax	9	(165,782)		(161,436)
			(165,782)		(161,436)
Net assets			1,211,987		947,476

Capital and reserves
Called up share capital	63	63
Profit and loss account	1,211,924	947,413
	1,211,987	947,476

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by:

................................................

T J Lovell

Director

Date: 29 September 2025

Page 1


ACCORD ENGINEERING LIMITED REGISTERED NUMBER:4727167

STATEMENT OF FINANCIAL POSITION (CONTINUED)

AS AT 31 DECEMBER 2024

The notes on pages 3 to 8 form part of these financial statements.

Page 2


ACCORD ENGINEERING LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

1.	Statutory information

Accord Engineering Limited is a private company, limited by shares, registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
The presentation currency of the financial statements is the Pound Sterling (£).

2.Accounting policies

2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The following principal accounting policies have been applied:

2.2

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have passed to the buyer (goods delivered and services supplied), the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the entity and the costs incurred or to be incurred in respect of the transaction can be measured reliably.

2.3

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

2.4

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

2.5

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Statement of financial position. The assets of the plan are held separately from the Company in independently administered funds.

Page 3


ACCORD ENGINEERING LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

2.Accounting policies (continued)

2.6

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the Company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the reporting date, except that:

∙The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and

∙Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.

2.7

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, .

Depreciation is provided on the following basis:

Plant and machinery	-	15%	straight line basis
Motor vehicles	-	25%	reducing balance basis
Fixtures and fittings	-	10%	straight line basis
Office equipment	-	15%	straight line basis

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

Page 4


ACCORD ENGINEERING LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

2.Accounting policies (continued)

2.8

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a weighted average basis. Work in progress and finished goods include labour and attributable overheads.

At each reporting date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.

2.9

Financial instruments

Basic financial assets

Basic financial assets, which include trade and other debtors, cash and bank balances, are initially measured at their transaction price (adjusted for transaction costs except in the initial measurement of financial assets that are subsequently measured at fair value through profit and loss) and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

Discounting is omitted where the effect of discounting is immaterial. The Company's cash and cash equivalents, trade and most other debtors due with the operating cycle fall into this category of financial instruments.

Employees

The average monthly number of employees, including directors, during the year was 14 (2023 - 12).

Page 5


ACCORD ENGINEERING LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

4.	Tangible fixed assets

	Plant and machinery	Motor vehicles	Fixtures and fittings	Office equipment	Total
	£	£	£	£	£
Cost or valuation
At 1 January 2024	1,082,459	48,094	75,631	29,312	1,235,496
Additions	136,720	41,700	4,677	20,470	203,567
Disposals	-	(5,261)	(1,330)	-	(6,591)
At 31 December 2024	1,219,179	84,533	78,978	49,782	1,432,472
Depreciation
At 1 January 2024	476,222	12,156	41,812	12,977	543,167
Charge for the year on owned assets	127,291	8,031	7,211	11,521	154,054
Disposals	-	(1,448)	(568)	-	(2,016)
At 31 December 2024	603,513	18,739	48,455	24,498	695,205
Net book value
At 31 December 2024	615,666	65,794	30,523	25,284	737,267
At 31 December 2023	606,237	35,938	33,819	16,335	692,329

Debtors

						As restated
					2024	2023
					£	£


Trade debtors	7,786	57,460
Amounts owed by group undertakings	609,191	795,145
Other debtors	249,870	100,308
Prepayments and accrued income	39,132	25,732
Tax recoverable	44,393	-
	950,372	978,645

Page 6


ACCORD ENGINEERING LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

Bank loans	-	10,033
Trade creditors	254,659	359,510
Corporation tax	107,838	-
Other taxation and social security	74,521	102,289
Hire purchase contracts	98,851	126,131
Other creditors	4,908	434
Accruals and deferred income	11,700	12,700
	552,477	611,097

Bank loans	-	19,056
Hire purchase contracts	96,447	195,376
	96,447	214,432

The bank loan, which was fully repaid during the year, was secured by way of a fixed and floating charge over all assets of the company.
Amounts falling due under hire purchase contracts are secured against the assets concerned.

Within one year	98,851	126,131
Between 1-5 years	96,447	195,376
	195,298	321,507

Page 7


ACCORD ENGINEERING LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

9.	Deferred taxation

		2024
		£

	At beginning of year	(161,436)
	Charged to profit or loss	(4,346)
	At end of year	(165,782)

	Timing differences	(165,782)	(161,436)
		(165,782)	(161,436)

10.	Related party disclosures

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

11.	Prior year adjustment

During the year, management identified a material fraud that occurred in the prior financial year, resulting in a misstatement of cash, cost of sales and administrative expenses. The financial statements have been restated to reflect the correction of this error. We have reduced admin expenses and cost of sales, and introduced other debtors in respect of the amount expected to be recoverable for that expenditure. And therefore, retained earnings have increased by £100,308.
Comparative figures have been restated accordingly.

12.	Controlling party

The parent undertaking and ultimate holding company is Century Construction Group Limited. The company's Registered Office and the address from which consolidated accounts can be obtained is Wharf House, Medway Wharf Road, Tonbridge, Kent TN9 1RE. This is the largest and smallest group in which the company's accounts are consolidated.

13.	Auditors' information

The auditors' report on the financial statements for the year ended 31 December 2024 was unqualified.

The audit report was signed on 30 September 2025 by James Fox ACA FCCA (Senior statutory auditor) on behalf of Menzies LLP.

Page 8