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Registered number: 07981550
Advantage Automotive Limited
Unaudited ABRIDGED Financial Statements
For The Year Ended 31 March 2025
Contents
Page
Abridged Balance Sheet 1—2
Notes to the Abridged Financial Statements 3—6
Page 1
Abridged Balance Sheet
Registered number: 07981550
2025 2024
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 5 248,632 100,753
248,632 100,753
CURRENT ASSETS
Stocks 37,933 39,453
Debtors 6 161,946 112,399
Cash at bank and in hand 61,274 105,733
261,153 257,585
Creditors: Amounts Falling Due Within One Year (247,648 ) (202,239 )
NET CURRENT ASSETS (LIABILITIES) 13,505 55,346
TOTAL ASSETS LESS CURRENT LIABILITIES 262,137 156,099
Creditors: Amounts Falling Due After More Than One Year (96,108 ) (42,367 )
PROVISIONS FOR LIABILITIES
Deferred Taxation 9 (43,011 ) (19,553 )
NET ASSETS 123,018 94,179
CAPITAL AND RESERVES
Called up share capital 10 200 200
Profit and Loss Account 122,818 93,979
SHAREHOLDERS' FUNDS 123,018 94,179
Page 1
Page 2
For the year ending 31 March 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.
All of the company's members have consented to the preparation of an Abridged Balance Sheet for the year end 31 March 2025 in accordance with section 444(2A) of the Companies Act 2006.
On behalf of the board
Mr M R Jones
Director
08/12/2025
The notes on pages 3 to 6 form part of these financial statements.
Page 2
Page 3
Notes to the Abridged Financial Statements
1. General Information
Advantage Automotive Limited is a private company, limited by shares, incorporated in England & Wales, registered number 07981550 . The registered office is Unit 14 Presteigne Industrial Estate, Presteigne, LD8 2UF.
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. Intangible Fixed Assets and Amortisation - Goodwill
Goodwill is the difference between amounts paid on the acquisition of a business and the fair value of the separable net assets. It is amortised to the profit and loss account over its estimated economic life of .... years.
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:
Leasehold 2% on cost
Plant & Machinery 25% and 10% reducing balance
Motor Vehicles 25% reducing balance
Fixtures & Fittings 25% reducing balance
Computer Equipment 25% straight line
2.5. 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.
2.6. 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.
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2.7. Financial Instruments
Debtors and creditors with no stated interest rate and receivable or payable within one year or on demand are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss in other operating expenses.
Basic financial instruments are recognised at amortised cost using the effective interest method, except for investments in nonconvertible preference and non puttable orrdinary shares which are measured at fair value, with changes recognised in the profit and loss. Derivative financial instruments are intially
recorded at cost andthereafter at fair value with changes recognised in profit or loss.
Directors loans are recognised at transaction price.
2.8. 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.
2.9. 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.
2.10. Pensions
The company operates a defined pension contribution scheme. Contributions are charged to the profit and loss account as they become payable in accordance with the rules of the scheme.
2.11. Government Grant
Government grants are recognised in the profit and loss account in an appropriate manner that matches them with the expenditure towards which they are intended to contribute.
Grants for immediate financial support or to cover costs already incurred are recognised immediately in the profit and loss account. Grants towards general activities of the entity over a specific period are recognised in the profit and loss account over that period.
Grants towards fixed assets are recognised over the expected useful lives of the related assets and are treated as deferred income and released to the profit and loss account over the useful life of the asset concerned.
All grants in the profit and loss account are recognised when all conditions for receipt have been complied with.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 8 (2024: 5)
8 5
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4. Intangible Assets
Total
£
Cost
As at 1 April 2024 64,412
As at 31 March 2025 64,412
Amortisation
As at 1 April 2024 64,412
As at 31 March 2025 64,412
Net Book Value
As at 31 March 2025 -
As at 1 April 2024 -
5. Tangible Assets
Total
£
Cost
As at 1 April 2024 230,252
Additions 182,344
Disposals (25,810 )
As at 31 March 2025 386,786
Depreciation
As at 1 April 2024 129,499
Provided during the period 27,211
Disposals (18,556 )
As at 31 March 2025 138,154
Net Book Value
As at 31 March 2025 248,632
As at 1 April 2024 100,753
6. Debtors
2025 2024
£ £
Due after more than one year
Other debtors 2,551 2,551
7. Secured Creditors
Of the creditors the following amounts are secured.  The Invoice Discounting facility is secured by a debenture giving a fixed and floating charge over the company's assets and related book debts.  The overdraft and bank loans are secured by a personal guarantee given by Mr M Jones.
2025 2024
£ £
Net obligations under finance lease and hire purchase contracts 95,760 3,803
Bank loans and overdrafts 41,097 69,368
Other Creditors 93,610 38,511
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8. Obligations Under Finance Leases and Hire Purchase
2025 2024
£ £
The future minimum finance lease payments are as follows:
Not later than one year 25,326 2,532
Later than one year and not later than five years 70,435 1,271
95,761 3,803
95,761 3,803
9. Deferred Taxation
The provision for deferred tax is made up as follows: accelerated capital allowances.
2025 2024
£ £
Other timing differences 43,011 19,553
10. Share Capital
2025 2024
£ £
Allotted, Called up and fully paid 200 200
11. Contingent Liabilities
2025 2024
£ £
At the end of the period 20,000 -
During the year the company received a growth grant from the council which is contingent on the employment of new employees and the continued income generation to which it relates.  If the company makes any redundancies or ceases the income to which it relates, the grant becomes repayable prorated accordingly.
12. Other Commitments
The total of future minimum lease payments under non-cancellable operating leases are as following:
2025 2024
£ £
Not later than one year 25,000 25,000
Later than one year and not later than five years 24,247 49,247
49,247 74,247
13. Directors Advances, Credits and Guarantees
Included within Debtors are the following loans to directors:
As at 1 April 2024 Amounts advanced Amounts repaid Amounts written off As at 31 March 2025
£ £ £ £ £
Mr Michael Jones - 7,473 - - 7,473
The above loan is unsecured and repayable on demand. Loan interest has been charged at 2.25% throughout the year.
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