Acorah Software Products - Accounts Production 16.5.460 false true 31 May 2024 1 June 2023 false 1 June 2024 31 May 2025 31 May 2025 08308244 Mr Paul Wiggins Mr Mark Cattle iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 08308244 2024-05-31 08308244 2025-05-31 08308244 2024-06-01 2025-05-31 08308244 frs-core:CurrentFinancialInstruments 2025-05-31 08308244 frs-core:Non-currentFinancialInstruments 2025-05-31 08308244 frs-core:BetweenOneFiveYears 2025-05-31 08308244 frs-core:ComputerEquipment 2025-05-31 08308244 frs-core:ComputerEquipment 2024-06-01 2025-05-31 08308244 frs-core:ComputerEquipment 2024-05-31 08308244 frs-core:FurnitureFittings 2025-05-31 08308244 frs-core:FurnitureFittings 2024-06-01 2025-05-31 08308244 frs-core:FurnitureFittings 2024-05-31 08308244 frs-core:NetGoodwill 2025-05-31 08308244 frs-core:NetGoodwill 2024-06-01 2025-05-31 08308244 frs-core:NetGoodwill 2024-05-31 08308244 frs-core:PlantMachinery 2025-05-31 08308244 frs-core:PlantMachinery 2024-06-01 2025-05-31 08308244 frs-core:PlantMachinery 2024-05-31 08308244 frs-core:WithinOneYear 2025-05-31 08308244 frs-core:RevaluationReserve 2024-06-01 2025-05-31 08308244 frs-core:RevaluationReserve 2024-05-31 08308244 frs-core:RevaluationReserve 2025-05-31 08308244 frs-core:ShareCapital 2025-05-31 08308244 frs-core:RetainedEarningsAccumulatedLosses 2024-06-01 2025-05-31 08308244 frs-core:RetainedEarningsAccumulatedLosses 2025-05-31 08308244 frs-bus:PrivateLimitedCompanyLtd 2024-06-01 2025-05-31 08308244 frs-bus:FilletedAccounts 2024-06-01 2025-05-31 08308244 frs-bus:SmallEntities 2024-06-01 2025-05-31 08308244 frs-bus:AuditExempt-NoAccountantsReport 2024-06-01 2025-05-31 08308244 frs-bus:SmallCompaniesRegimeForAccounts 2024-06-01 2025-05-31 08308244 frs-bus:OrdinaryShareClass2 2024-06-01 2025-05-31 08308244 frs-bus:OrdinaryShareClass2 2025-05-31 08308244 frs-bus:OrdinaryShareClass3 2024-06-01 2025-05-31 08308244 frs-bus:OrdinaryShareClass3 2025-05-31 08308244 frs-bus:OrdinaryShareClass4 2024-06-01 2025-05-31 08308244 frs-bus:OrdinaryShareClass4 2025-05-31 08308244 frs-bus:OrdinaryShareClass5 2024-06-01 2025-05-31 08308244 frs-bus:OrdinaryShareClass5 2025-05-31 08308244 frs-core:RevaluationPropertyPlantEquipmentDeferredTax 2025-05-31 08308244 frs-bus:Director1 2024-06-01 2025-05-31 08308244 frs-bus:Director2 2024-06-01 2025-05-31 08308244 frs-countries:EnglandWales 2024-06-01 2025-05-31 08308244 2023-05-31 08308244 2024-05-31 08308244 2023-06-01 2024-05-31 08308244 frs-core:CurrentFinancialInstruments 2024-05-31 08308244 frs-core:Non-currentFinancialInstruments 2024-05-31 08308244 frs-core:BetweenOneFiveYears 2024-05-31 08308244 frs-core:PlantMachinery 2023-06-01 2024-05-31 08308244 frs-core:WithinOneYear 2024-05-31 08308244 frs-core:RevaluationReserve 2023-06-01 2024-05-31 08308244 frs-core:RevaluationReserve 2023-05-31 08308244 frs-core:RevaluationReserve 2024-05-31 08308244 frs-core:ShareCapital 2023-05-31 08308244 frs-core:ShareCapital 2024-05-31 08308244 frs-core:RetainedEarningsAccumulatedLosses 2023-06-01 2024-05-31 08308244 frs-core:RetainedEarningsAccumulatedLosses frs-core:PreviouslyStatedAmount 2023-05-31 08308244 frs-core:RetainedEarningsAccumulatedLosses 2024-05-31 08308244 frs-bus:OrdinaryShareClass2 2023-06-01 2024-05-31 08308244 frs-bus:OrdinaryShareClass3 2023-06-01 2024-05-31 08308244 frs-bus:OrdinaryShareClass4 2023-06-01 2024-05-31 08308244 frs-bus:OrdinaryShareClass5 2023-06-01 2024-05-31 08308244 frs-core:RevaluationPropertyPlantEquipmentDeferredTax 2024-05-31
Registered number: 08308244
Prima Tooling Limited
Financial Statements
For The Year Ended 31 May 2025
Contents
Page
Balance Sheet 1—2
Statement of Changes in Equity 3
Notes to the Financial Statements 4—9
Page 1
Balance Sheet
Registered number: 08308244
2025 2024
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 5 827,883 920,779
827,883 920,779
CURRENT ASSETS
Stocks 6 172,250 197,660
Debtors 7 207,680 209,838
Cash at bank and in hand 616,161 563,212
996,091 970,710
Creditors: Amounts Falling Due Within One Year 8 (238,379 ) (274,647 )
NET CURRENT ASSETS (LIABILITIES) 757,712 696,063
TOTAL ASSETS LESS CURRENT LIABILITIES 1,585,595 1,616,842
Creditors: Amounts Falling Due After More Than One Year 9 (50,092 ) (74,366 )
PROVISIONS FOR LIABILITIES
Deferred Taxation 13 (196,811 ) (216,903 )
NET ASSETS 1,338,692 1,325,573
CAPITAL AND RESERVES
Called up share capital 14 110 110
Revaluation reserve 18 277,632 308,480
Profit and Loss Account 1,060,950 1,016,983
SHAREHOLDERS' FUNDS 1,338,692 1,325,573
Page 1
Page 2
For the year ending 31 May 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 Paul Wiggins
Director
9 December 2025
The notes on pages 4 to 9 form part of these financial statements.
Page 2
Page 3
Statement of Changes in Equity
Share Capital Revaluation reserve Profit and Loss Account Total
£ £ £ £
As at 1 June 2023 110 342,756 935,708 1,278,574
Profit for the year and total comprehensive income - - 151,961 151,961
Dividends paid - - (104,962) (104,962)
Transfer from revaluation reserve - - 34,276 34,276
Transfer to/from Profit & Loss Account - (34,276 ) - (34,276)
As at 31 May 2024 and 1 June 2024 110 308,480 1,016,983 1,325,573
Profit for the year and total comprehensive income - - 135,616 135,616
Dividends paid - - (122,497) (122,497)
Transfer from revaluation reserve - - 30,848 30,848
Transfer to/from Profit & Loss Account - (30,848 ) - (30,848)
As at 31 May 2025 110 277,632 1,060,950 1,338,692
Page 3
Page 4
Notes to the Financial Statements
1. General Information
Prima Tooling Limited Registered number 08308244 is a limited by shares company incorporated in England & Wales. The Registered Office is Unit 4, 99 London Road, Stanway, Essex, CO3 0NY.
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 tooling 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.
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 profit and loss account over its estimated economic life of 10 years.
2.4. Tangible Fixed Assets and Depreciation
Tangible fixed assets are stated at cost less depreciation. 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 10% Reducing Balance / 25% Straight Line
Fixtures & Fittings 10% Reducing Balance
Computer Equipment 25% Reducing Balance
2.5. Leasing and Hire Purchase Contracts
Assets obtained under hire purchase contracts and 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 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.
2.7. 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.
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2.8. 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 year 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 asset reflects 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 or deferred tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.
2.9. 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.
2.10. Government Grant
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.
2.11. Financial Instruments
Basic finacial instruments are initially recorded at costs and thereafter at fair value with changes recognised in the profit and loss account.
2.12. Plant and Machinery Revaluation
A revaluation of all Plant and Machinery has been carried out as at 31 May 2025 by the directors of the company to reflect the true Fair Value of Plant and Machinery. The adjustment in value is reflected in the Revaluation Reserve. Deferred Taxation has been accounted for in repsect of the revaluation.
2.13. Registrar Filing Requirements
The company has taken advantage of Companies Act 2006 section 444(1) and opted not to file the profit and loss account, directors report, and notes to the financial statements relating to the profit and loss account.
3. Average Number of Employees
Average number of employees, including directors, during the year was:
2025 2024
Office and administration 3 4
Manufacturing 8 12
11 16
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4. Intangible Assets
Goodwill
£
Cost
As at 1 June 2024 100,000
As at 31 May 2025 100,000
Amortisation
As at 1 June 2024 100,000
As at 31 May 2025 100,000
Net Book Value
As at 31 May 2025 -
As at 1 June 2024 -
5. Tangible Assets
Plant & Machinery Fixtures & Fittings Computer Equipment Total
£ £ £ £
Cost or Valuation
As at 1 June 2024 2,837,532 7,504 9,790 2,854,826
As at 31 May 2025 2,837,532 7,504 9,790 2,854,826
Depreciation
As at 1 June 2024 1,922,321 4,389 7,337 1,934,047
Provided during the period 91,521 312 1,063 92,896
As at 31 May 2025 2,013,842 4,701 8,400 2,026,943
Net Book Value
As at 31 May 2025 823,690 2,803 1,390 827,883
As at 1 June 2024 915,211 3,115 2,453 920,779
The valuation of Plant and Machinery was made by the directors on an open market value basis by reference to market evidence of transaction prices for similar Plant and Machinery.
Included above are assets held under finance leases or hire purchase contracts with a net book value as follows:
2025 2024
£ £
Plant & Machinery 120,380 120,380
Cost or valuation as at 31 May 2025 represented by:
Plant & Machinery Fixtures & Fittings Computer Equipment Total
£ £ £ £
At cost 2,837,532 7,504 9,790 2,854,826
2,837,532 7,504 9,790 2,854,826
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If the following tangible fixed assets had been accounted for under historical cost accounting rules, the amounts would be:
Plant & Machinery
£
Cost 1,547,874
Accumulated depreciation and impairment 1,007,475
Carrying amount 540,399
6. Stocks
2025 2024
£ £
Stock 172,250 197,660
7. Debtors
2025 2024
£ £
Due within one year
Trade debtors 176,628 177,164
Prepayments and accrued income 31,042 32,664
Other debtors 10 10
207,680 209,838
8. Creditors: Amounts Falling Due Within One Year
2025 2024
£ £
Net obligations under finance lease and hire purchase contracts 37,736 72,211
Trade creditors 59,865 82,678
Bank loans and overdrafts 9,144 10,179
Corporation tax 67,090 48,758
Other taxes and social security 30,827 11,180
Other creditors 7,669 8,705
Accruals and deferred income 6,234 12,493
Capital grants 3,152 2,325
Directors' loan accounts 16,662 26,118
238,379 274,647
9. Creditors: Amounts Falling Due After More Than One Year
2025 2024
£ £
Net obligations under finance lease and hire purchase contracts 27,301 39,537
Bank loans 4,930 13,901
Capital grants 17,861 20,928
50,092 74,366
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10. Secured Creditors
Of the creditors falling due within and after more than one year the following amounts are secured on the assets to which they relate.
2025 2024
£ £
Net obligations under finance lease and hire purchase contracts 65,037 111,748
11. Obligations Under Finance Leases and Hire Purchase
2025 2024
£ £
The future minimum finance lease payments are as follows:
Not later than one year 37,736 72,211
Later than one year and not later than five years 27,301 39,537
65,037 111,748
65,037 111,748
12. Capital Grants
2025 2024
£ £
Balance at 1 June 2024 23,253 25,731
Increase / (Decrease) in the year (2,239) (2,478)
Balance at 31 May 2025 21,014 23,253
Governement grant's has been treated as deferred income and is to be released to the profit and loss account over the expected useful economic life of the related asset on a basis that is consistent with depreciation policy.
13. Deferred Taxation
The provision for deferred tax is made up as follows:
2025 2024
£ £
Revaluation of property, plant and equipment 69,408 77,120
Other timing differences 127,403 139,783
196,811 216,903
14. Share Capital
2025 2024
Allotted, called up and fully paid £ £
50 Ordinary A shares of £ 1.00 each 50 50
50 Ordinary B shares of £ 1.00 each 50 50
5 Ordinary C shares of £ 1.00 each 5 5
5 Ordinary D shares of £ 1.00 each 5 5
110 110
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15. Other Commitments
The total of future minimum lease payments under non-cancellable operating leases are as following:
2025 2024
£ £
Not later than one year 52,292 47,251
Later than one year and not later than five years - 41,791
52,292 89,042
16. Directors Advances, Credits and Guarantees
The directors have given a personal gurantee in respect of the lease on the business property.
17. Dividends
2025 2024
£ £
On equity shares:
Interim dividend paid 122,497 104,962
18. Reserves
Revaluation Reserve
£
As at 1 June 2024 308,480
Transfer to profit and loss (30,848 )
As at 31 May 2025 277,632
A Deferred Tax Liability has been accounted for to the value of £69,408 (2024 £77,120) on the Revaluation Reserve.
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