Acorah Software Products - Accounts Production 16.5.460 false true 31 October 2023 1 November 2022 false 1 November 2023 31 October 2024 31 October 2024 09815081 M G Petrou iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 09815081 frs-core:CurrentFinancialInstruments frs-core:WithinOneYear 2024-10-31 09815081 frs-core:Non-currentFinancialInstruments frs-core:BetweenOneFiveYears 2024-10-31 09815081 2023-10-31 09815081 2024-10-31 09815081 2023-11-01 2024-10-31 09815081 frs-core:CurrentFinancialInstruments 2024-10-31 09815081 frs-core:Non-currentFinancialInstruments 2024-10-31 09815081 frs-core:ComputerEquipment 2024-10-31 09815081 frs-core:ComputerEquipment 2023-11-01 2024-10-31 09815081 frs-core:ComputerEquipment 2023-10-31 09815081 frs-core:FurnitureFittings 2024-10-31 09815081 frs-core:FurnitureFittings 2023-11-01 2024-10-31 09815081 frs-core:FurnitureFittings 2023-10-31 09815081 frs-core:MotorVehicles 2024-10-31 09815081 frs-core:MotorVehicles 2023-11-01 2024-10-31 09815081 frs-core:MotorVehicles 2023-10-31 09815081 frs-core:PlantMachinery 2024-10-31 09815081 frs-core:PlantMachinery 2023-11-01 2024-10-31 09815081 frs-core:PlantMachinery 2023-10-31 09815081 frs-core:ShareCapital 2024-10-31 09815081 frs-core:RetainedEarningsAccumulatedLosses 2024-10-31 09815081 frs-bus:PrivateLimitedCompanyLtd 2023-11-01 2024-10-31 09815081 frs-bus:FilletedAccounts 2023-11-01 2024-10-31 09815081 frs-bus:SmallEntities 2023-11-01 2024-10-31 09815081 frs-bus:AuditExempt-NoAccountantsReport 2023-11-01 2024-10-31 09815081 frs-bus:SmallCompaniesRegimeForAccounts 2023-11-01 2024-10-31 09815081 frs-bus:Director1 2023-11-01 2024-10-31 09815081 frs-bus:Director1 2023-10-31 09815081 frs-bus:Director1 2024-10-31 09815081 frs-countries:EnglandWales 2023-11-01 2024-10-31 09815081 frs-core:CurrentFinancialInstruments frs-core:WithinOneYear 2023-10-31 09815081 frs-core:Non-currentFinancialInstruments frs-core:BetweenOneFiveYears 2023-10-31 09815081 2022-10-31 09815081 2023-10-31 09815081 2022-11-01 2023-10-31 09815081 frs-core:CurrentFinancialInstruments 2023-10-31 09815081 frs-core:Non-currentFinancialInstruments 2023-10-31 09815081 frs-core:ShareCapital 2023-10-31 09815081 frs-core:RetainedEarningsAccumulatedLosses 2023-10-31
Registered number: 09815081
MP Automotive Service Centre Limited
Unaudited Financial Statements
For The Year Ended 31 October 2024
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 09815081
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 84,966 88,559
84,966 88,559
CURRENT ASSETS
Stocks 5 78,162 100,000
Debtors 6 75,296 218,626
Cash at bank and in hand 128,013 115,895
281,471 434,521
Creditors: Amounts Falling Due Within One Year 7 (145,066 ) (215,565 )
NET CURRENT ASSETS (LIABILITIES) 136,405 218,956
TOTAL ASSETS LESS CURRENT LIABILITIES 221,371 307,515
Creditors: Amounts Falling Due After More Than One Year 8 (4,748 ) (15,060 )
NET ASSETS 216,623 292,455
CAPITAL AND RESERVES
Called up share capital 10 100 100
Profit and Loss Account 216,523 292,355
SHAREHOLDERS' FUNDS 216,623 292,455
Page 1
Page 2
For the year ending 31 October 2024 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
M G Petrou
Director
10/10/2025
The notes on pages 3 to 5 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
MP Automotive Service Centre Limited is a private company, limited by shares, incorporated in England & Wales, registered number 09815081 . The registered office is Woodgate House, 2-8 Games Road, Barnet, EN4 9HN.
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 25% RB
Motor Vehicles 25% RB
Fixtures & Fittings 25% RB
Computer Equipment 25% RB
2.4. 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.
2.5. 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.
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Page 4
3. Average Number of Employees
Average number of employees, including directors, during the year was: 15 (2023: 10)
15 10
4. Tangible Assets
Plant & Machinery Motor Vehicles Fixtures & Fittings Computer Equipment Total
£ £ £ £ £
Cost
As at 1 November 2023 36,238 10,302 104,294 23,078 173,912
Additions 3,678 450 22,386 2,641 29,155
Disposals - (6,302 ) - - (6,302 )
As at 31 October 2024 39,916 4,450 126,680 25,719 196,765
Depreciation
As at 1 November 2023 21,239 3,490 46,693 13,931 85,353
Provided during the period 4,669 516 19,997 2,481 27,663
Disposals - (1,217 ) - - (1,217 )
As at 31 October 2024 25,908 2,789 66,690 16,412 111,799
Net Book Value
As at 31 October 2024 14,008 1,661 59,990 9,307 84,966
As at 1 November 2023 14,999 6,812 57,601 9,147 88,559
5. Stocks
2024 2023
£ £
Work in progress 78,162 100,000
6. Debtors
2024 2023
£ £
Due within one year
Trade debtors 63,408 39,320
Other debtors 11,888 179,306
75,296 218,626
7. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 94,473 133,348
Bank loans and overdrafts 10,561 10,252
Other creditors 7,963 7,654
Taxation and social security 32,069 64,311
145,066 215,565
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Page 5
8. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Bank loans 4,748 15,060
9. Loans
An analysis of the maturity of loans is given below:
2024 2023
£ £
Amounts falling due within one year or on demand:
Bank loans 10,538 10,242
2024 2023
£ £
Amounts falling due between one and five years:
Bank loans 4,748 15,060
10. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 100 100
11. Directors Advances, Credits and Guarantees
Included within Debtors are the following loans to directors:
As at 1 November 2023 Amounts advanced Amounts repaid Amounts written off As at 31 October 2024
£ £ £ £ £
Mr Mario Petrou 8,839 9,888 8,839 - 9,888
The above loan is unsecured, interest free and repayable on demand.
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