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Dave Lees LBC Ltd
Financial Statements
For The Year Ended 31 March 2025
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 07239562
2025 2024
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 640,255 337,100
640,255 337,100
CURRENT ASSETS
Stocks 5 82,516 136,393
Debtors 6 455,867 369,644
Cash at bank and in hand 214,305 129,070
752,688 635,107
Creditors: Amounts Falling Due Within One Year 7 (404,572 ) (312,424 )
NET CURRENT ASSETS (LIABILITIES) 348,116 322,683
TOTAL ASSETS LESS CURRENT LIABILITIES 988,371 659,783
Creditors: Amounts Falling Due After More Than One Year 8 (87,836 ) (67,512 )
NET ASSETS 900,535 592,271
CAPITAL AND RESERVES
Called up share capital 10 2 2
Profit and Loss Account 900,533 592,269
SHAREHOLDERS' FUNDS 900,535 592,271
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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.
On behalf of the board
Mr David Lees
Director
25 December 2025
The notes on pages 3 to 5 form part of these financial statements.
Page 2
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Notes to the Financial Statements
1. General Information
Dave Lees LBC Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 07239562 . The registered office is Barnfields Old Road, Oulton Heath, Stone, Staffordshire, ST15 8US.
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
Motor Vehicles 25
Fixtures & Fittings 10
Computer Equipment 33
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.
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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: 5 (2024: 5)
5 5
4. Tangible Assets
Plant & Machinery Motor Vehicles Fixtures & Fittings Computer Equipment Total
£ £ £ £ £
Cost
As at 1 April 2024 301,049 233,953 2,920 2,582 540,504
Additions 288,491 154,750 6,255 - 449,496
Disposals - (14,000 ) - - (14,000 )
As at 31 March 2025 589,540 374,703 9,175 2,582 976,000
Depreciation
As at 1 April 2024 116,417 85,709 49 1,229 203,404
Provided during the period 83,584 51,094 2,482 723 137,883
Disposals - (5,542 ) - - (5,542 )
As at 31 March 2025 200,001 131,261 2,531 1,952 335,745
Net Book Value
As at 31 March 2025 389,539 243,442 6,644 630 640,255
As at 1 April 2024 184,632 148,244 2,871 1,353 337,100
5. Stocks
2025 2024
£ £
Stock 82,516 136,393
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6. Debtors
2025 2024
£ £
Due within one year
Trade debtors 295,757 41,489
Other debtors 160,110 328,155
455,867 369,644
7. Creditors: Amounts Falling Due Within One Year
2025 2024
£ £
Net obligations under finance lease and hire purchase contracts 32,689 26,184
Trade creditors 289,364 131,663
Bank loans and overdrafts - 2,589
Other creditors 56,977 110,414
Taxation and social security 25,542 41,574
404,572 312,424
8. Creditors: Amounts Falling Due After More Than One Year
2025 2024
£ £
Net obligations under finance lease and hire purchase contracts 75,361 45,012
Bank loans 12,475 22,500
87,836 67,512
9. Obligations Under Finance Leases and Hire Purchase
2025 2024
£ £
The future minimum finance lease payments are as follows:
Not later than one year 38,763 30,764
Later than one year and not later than five years 81,530 49,739
120,293 80,503
Less: Finance charges allocated to future periods 12,243 9,307
108,050 71,196
10. Share Capital
2025 2024
£ £
Allotted, Called up and fully paid 2 2
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