Acorah Software Products - Accounts Production 16.5.460 false true true 30 April 2024 1 May 2023 false 1 May 2024 30 April 2025 30 April 2025 10712668 D Coaster B Clarke iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 10712668 2024-04-30 10712668 2025-04-30 10712668 2024-05-01 2025-04-30 10712668 frs-core:CurrentFinancialInstruments 2025-04-30 10712668 frs-core:FurnitureFittings 2025-04-30 10712668 frs-core:FurnitureFittings 2024-05-01 2025-04-30 10712668 frs-core:FurnitureFittings 2024-04-30 10712668 frs-core:PlantMachinery 2025-04-30 10712668 frs-core:PlantMachinery 2024-05-01 2025-04-30 10712668 frs-core:PlantMachinery 2024-04-30 10712668 frs-core:ShareCapital 2025-04-30 10712668 frs-core:RetainedEarningsAccumulatedLosses 2025-04-30 10712668 frs-bus:PrivateLimitedCompanyLtd 2024-05-01 2025-04-30 10712668 frs-bus:FilletedAccounts 2024-05-01 2025-04-30 10712668 frs-bus:SmallEntities 2024-05-01 2025-04-30 10712668 frs-bus:AuditExempt-NoAccountantsReport 2024-05-01 2025-04-30 10712668 frs-bus:SmallCompaniesRegimeForAccounts 2024-05-01 2025-04-30 10712668 frs-bus:Director1 2024-05-01 2025-04-30 10712668 frs-bus:Director2 2024-05-01 2025-04-30 10712668 frs-countries:EnglandWales 2024-05-01 2025-04-30 10712668 2023-04-30 10712668 2024-04-30 10712668 2023-05-01 2024-04-30 10712668 frs-core:CurrentFinancialInstruments 2024-04-30 10712668 frs-core:ShareCapital 2024-04-30 10712668 frs-core:RetainedEarningsAccumulatedLosses 2024-04-30
Registered number: 10712668
Powerslide Racing Ltd
Unaudited Financial Statements
For The Year Ended 30 April 2025
Maple Accountancy Ltd
Carter House
Wyvern Business Park, Stanier Way
Derby
Derbyshire
DE21 6BF
Contents
Page
Balance Sheet 1
Notes to the Financial Statements 2—3
Page 1
Balance Sheet
Registered number: 10712668
2025 2024
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 103,416 137,889
103,416 137,889
CURRENT ASSETS
Debtors 5 56,228 22,612
Cash at bank and in hand 12,909 10,950
69,137 33,562
Creditors: Amounts Falling Due Within One Year 6 (655,577 ) (345,598 )
NET CURRENT ASSETS (LIABILITIES) (586,440 ) (312,036 )
TOTAL ASSETS LESS CURRENT LIABILITIES (483,024 ) (174,147 )
NET LIABILITIES (483,024 ) (174,147 )
CAPITAL AND RESERVES
Called up share capital 7 1 1
Profit and Loss Account (483,025 ) (174,148 )
SHAREHOLDERS' FUNDS (483,024) (174,147)
For the year ending 30 April 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
B Clarke
Director
07/11/2025
The notes on pages 2 to 3 form part of these financial statements.
Page 1
Page 2
Notes to the Financial Statements
1. General Information
Powerslide Racing Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 10712668 . The registered office is 962 London Road, Stoke-On-Trent, ST4 5NQ.
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. Going Concern Disclosure
The directors have identified material uncertainties related to events or conditions that may cast significant doubt about the company's ability to continue as a going concern, however, the going concern basis remains appropriate.
2.3. 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.
2.4. 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% on reducing balance
Fixtures & Fittings 25% on reducing balance
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.
Page 2
Page 3
3. Average Number of Employees
Average number of employees, including directors, during the year was: 1 (2024: 2)
1 2
4. Tangible Assets
Plant & Machinery Fixtures & Fittings Total
£ £ £
Cost
As at 1 May 2024 215,000 5,141 220,141
As at 30 April 2025 215,000 5,141 220,141
Depreciation
As at 1 May 2024 80,031 2,221 82,252
Provided during the period 33,742 731 34,473
As at 30 April 2025 113,773 2,952 116,725
Net Book Value
As at 30 April 2025 101,227 2,189 103,416
As at 1 May 2024 134,969 2,920 137,889
5. Debtors
2025 2024
£ £
Due within one year
Other debtors 49,384 6,800
VAT 6,844 15,812
56,228 22,612
6. Creditors: Amounts Falling Due Within One Year
2025 2024
£ £
Trade creditors 260,479 210,476
Other creditors 348,251 110,732
Directors' loan accounts 46,847 24,390
655,577 345,598
7. Share Capital
2025 2024
£ £
Allotted, Called up and fully paid 1 1
Page 3