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Registered number: 03680080
Peter Garth Auto Refinishing Limited
Unaudited Financial Statements
For The Year Ended 31 December 2025
Harris Lacey and Swain
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 03680080
2025 2024
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 5 119,876 107,656
119,876 107,656
CURRENT ASSETS
Stocks 6 1,800 1,800
Debtors 7 35,186 49,719
Cash at bank and in hand 165,368 126,240
202,354 177,759
Creditors: Amounts Falling Due Within One Year 8 (42,118 ) (52,062 )
NET CURRENT ASSETS (LIABILITIES) 160,236 125,697
TOTAL ASSETS LESS CURRENT LIABILITIES 280,112 233,353
PROVISIONS FOR LIABILITIES
Deferred Taxation (29,613 ) (26,432 )
NET ASSETS 250,499 206,921
CAPITAL AND RESERVES
Called up share capital 9 2 2
Profit and Loss Account 250,497 206,919
SHAREHOLDERS' FUNDS 250,499 206,921
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For the year ending 31 December 2025 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
Mr Peter Garth
Director
21/04/2026
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
Peter Garth Auto Refinishing Limited is a private company, limited by shares, incorporated in England & Wales, registered number 03680080 . The registered office is Unit 7, Riverside Road, Beverley, EAST YORKSHIRE, HU17 0LD.
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. Significant judgements and estimations
Estimates and judgements are continually evaluated and are based on historical experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances. Although these estimates are based on the Directors’ best knowledge of the amount, events or actions, actual results ultimately differ from these estimates. The Directors do not consider there to be any material estimates and judgements.
2.3. Turnover
Turnover represents the fair value of consideration received or receivable for motor refinishing and repair services provided during the period, net of discounts and VAT.
Revenue is recognised when control of the service has transferred to the customer, which is typically when the repair work is completed and the vehicle is returned to the customer or insurer. For insurance‑related work, revenue is recognised when the repair is completed and the final invoice has been agreed with the insurer or accident management company.
2.4. 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 was amortised to the profit and loss account over its estimated economic life of 20 years.
2.5. 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 15% reducing balance
Motor Vehicles 25% reducing balance
Fixtures & Fittings 15% reducing balance
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. Financial Instruments
The company only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments, including trade and other debtors and creditors are initially recognised at transaction value and subsequently measure at their settlement value.
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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 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: 6 (2024: 6)
6 6
4. Intangible Assets
Goodwill
£
Cost
As at 1 January 2025 240,000
As at 31 December 2025 240,000
Amortisation
As at 1 January 2025 240,000
As at 31 December 2025 240,000
Net Book Value
As at 31 December 2025 -
As at 1 January 2025 -
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5. Tangible Assets
Plant & Machinery Motor Vehicles Fixtures & Fittings Total
£ £ £ £
Cost
As at 1 January 2025 353,850 23,507 29,710 407,067
Additions 14,101 - 20,493 34,594
Disposals - (5,000 ) - (5,000 )
As at 31 December 2025 367,951 18,507 50,203 436,661
Depreciation
As at 1 January 2025 250,429 22,984 25,998 299,411
Provided during the period 18,150 168 4,056 22,374
Disposals - (5,000 ) - (5,000 )
As at 31 December 2025 268,579 18,152 30,054 316,785
Net Book Value
As at 31 December 2025 99,372 355 20,149 119,876
As at 1 January 2025 103,421 523 3,712 107,656
6. Stocks
2025 2024
£ £
Stock 1,800 1,800
7. Debtors
2025 2024
£ £
Due within one year
Trade debtors 29,696 37,925
Other debtors 5,490 11,794
35,186 49,719
8. Creditors: Amounts Falling Due Within One Year
2025 2024
£ £
Trade creditors 9,875 22,664
Other creditors 3,463 2,490
Taxation and social security 28,780 26,908
42,118 52,062
9. Share Capital
2025 2024
£ £
Allotted, Called up and fully paid 2 2
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