Acorah Software Products - Accounts Production 16.5.460 false true 29 February 2024 1 March 2023 false 1 March 2024 28 February 2025 28 February 2025 03134292 Mrs Lynn Clark Mr Neil Clark Mrs Lynn Clark iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 03134292 2024-02-29 03134292 2025-02-28 03134292 2024-03-01 2025-02-28 03134292 frs-core:CurrentFinancialInstruments 2025-02-28 03134292 frs-core:Non-currentFinancialInstruments 2025-02-28 03134292 frs-core:BetweenOneFiveYears 2025-02-28 03134292 frs-core:ComputerEquipment 2025-02-28 03134292 frs-core:ComputerEquipment 2024-03-01 2025-02-28 03134292 frs-core:ComputerEquipment 2024-02-29 03134292 frs-core:FurnitureFittings 2025-02-28 03134292 frs-core:FurnitureFittings 2024-03-01 2025-02-28 03134292 frs-core:FurnitureFittings 2024-02-29 03134292 frs-core:LandBuildings frs-core:OwnedOrFreeholdAssets 2025-02-28 03134292 frs-core:LandBuildings frs-core:OwnedOrFreeholdAssets 2024-03-01 2025-02-28 03134292 frs-core:LandBuildings frs-core:OwnedOrFreeholdAssets 2024-02-29 03134292 frs-core:MotorVehicles 2025-02-28 03134292 frs-core:MotorVehicles 2024-03-01 2025-02-28 03134292 frs-core:MotorVehicles 2024-02-29 03134292 frs-core:PlantMachinery 2025-02-28 03134292 frs-core:PlantMachinery 2024-03-01 2025-02-28 03134292 frs-core:PlantMachinery 2024-02-29 03134292 frs-core:WithinOneYear 2025-02-28 03134292 frs-core:ShareCapital 2025-02-28 03134292 frs-core:RetainedEarningsAccumulatedLosses 2025-02-28 03134292 frs-bus:PrivateLimitedCompanyLtd 2024-03-01 2025-02-28 03134292 frs-bus:FilletedAccounts 2024-03-01 2025-02-28 03134292 frs-bus:SmallEntities 2024-03-01 2025-02-28 03134292 frs-bus:AuditExempt-NoAccountantsReport 2024-03-01 2025-02-28 03134292 frs-bus:SmallCompaniesRegimeForAccounts 2024-03-01 2025-02-28 03134292 frs-bus:Director1 2024-03-01 2025-02-28 03134292 frs-bus:Director2 2024-03-01 2025-02-28 03134292 frs-bus:CompanySecretary1 2024-03-01 2025-02-28 03134292 frs-countries:EnglandWales 2024-03-01 2025-02-28 03134292 2023-02-28 03134292 2024-02-29 03134292 2023-03-01 2024-02-29 03134292 frs-core:CurrentFinancialInstruments 2024-02-29 03134292 frs-core:Non-currentFinancialInstruments 2024-02-29 03134292 frs-core:BetweenOneFiveYears 2024-02-29 03134292 frs-core:WithinOneYear 2024-02-29 03134292 frs-core:ShareCapital 2024-02-29 03134292 frs-core:RetainedEarningsAccumulatedLosses 2024-02-29
Registered number: 03134292
N. Clark Planing Limited
Unaudited Financial Statements
For The Year Ended 28 February 2025
Phillips Ltd
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—7
Page 1
Balance Sheet
Registered number: 03134292
2025 2024
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 1,869,796 1,490,405
1,869,796 1,490,405
CURRENT ASSETS
Stocks 5 2,755 255
Debtors 6 301,339 219,121
Cash at bank and in hand 1,663 7,322
305,757 226,698
Creditors: Amounts Falling Due Within One Year 7 (803,285 ) (556,728 )
NET CURRENT ASSETS (LIABILITIES) (497,528 ) (330,030 )
TOTAL ASSETS LESS CURRENT LIABILITIES 1,372,268 1,160,375
Creditors: Amounts Falling Due After More Than One Year 8 (691,431 ) (546,330 )
PROVISIONS FOR LIABILITIES
Deferred Taxation (182,070 ) (163,326 )
NET ASSETS 498,767 450,719
CAPITAL AND RESERVES
Called up share capital 10 16,002 16,002
Profit and Loss Account 482,765 434,717
SHAREHOLDERS' FUNDS 498,767 450,719
Page 1
Page 2
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 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 Neil Clark
Director
06/05/2025
The notes on pages 3 to 7 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
N. Clark Planing Limited is a private company, limited by shares, incorporated in England & Wales, registered number 03134292 . The registered office is High Trees, Stone, Kidderminster, Worcestershire, DY10 4BB.
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 4% on cost
Plant & Machinery 20% on reducing balance
Motor Vehicles 20% on reducing balance
Fixtures & Fittings 20% on cost
Computer Equipment 25% on cost
Page 3
Page 4
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.
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: 13 (2024: 13)
13 13
Page 4
Page 5
4. Tangible Assets
Land & Property
Freehold Plant & Machinery Motor Vehicles Fixtures & Fittings
£ £ £ £
Cost
As at 1 March 2024 30,000 2,255,999 296,541 47,007
Additions - 648,731 78,467 -
Disposals - (232,750 ) (38,148 ) -
As at 28 February 2025 30,000 2,671,980 336,860 47,007
Depreciation
As at 1 March 2024 7,700 902,532 181,903 47,007
Provided during the period 1,200 245,669 26,166 -
Disposals - (166,993 ) (29,133 ) -
As at 28 February 2025 8,900 981,208 178,936 47,007
Net Book Value
As at 28 February 2025 21,100 1,690,772 157,924 -
As at 1 March 2024 22,300 1,353,467 114,638 -
Computer Equipment Total
£ £
Cost
As at 1 March 2024 14,708 2,644,255
Additions - 727,198
Disposals - (270,898 )
As at 28 February 2025 14,708 3,100,555
Depreciation
As at 1 March 2024 14,708 1,153,850
Provided during the period - 273,035
Disposals - (196,126 )
As at 28 February 2025 14,708 1,230,759
Net Book Value
As at 28 February 2025 - 1,869,796
As at 1 March 2024 - 1,490,405
Page 5
Page 6
5. Stocks
2025 2024
£ £
Finished goods 2,755 255
6. Debtors
2025 2024
£ £
Due within one year
Trade debtors 220,556 189,570
Prepayments and accrued income 8,026 4,080
Other taxes and social security 72,757 25,471
301,339 219,121
7. Creditors: Amounts Falling Due Within One Year
2025 2024
£ £
Net obligations under finance lease and hire purchase contracts 525,961 277,297
Trade creditors 63,266 78,183
Bank loans and overdrafts 183,267 162,869
Other creditors 997 1,321
Accruals and deferred income 2,150 2,100
Directors' loan accounts 27,644 34,958
803,285 556,728
8. Creditors: Amounts Falling Due After More Than One Year
2025 2024
£ £
Net obligations under finance lease and hire purchase contracts 688,553 533,066
Bank loans 2,878 13,264
691,431 546,330
Page 6
Page 7
9. Obligations Under Finance Leases and Hire Purchase
2025 2024
£ £
The future minimum finance lease payments are as follows:
Not later than one year 525,961 277,297
Later than one year and not later than five years 688,553 533,066
1,214,514 810,363
1,214,514 810,363
10. Share Capital
2025 2024
£ £
Allotted, Called up and fully paid 16,002 16,002
11. Dividends
2025 2024
£ £
On equity shares:
Final dividend paid 26,000 26,000
Page 7