Acorah Software Products - Accounts Production 19.2.450 false true 31 March 2025 1 April 2024 false 1 April 2025 31 March 2026 31 March 2026 03538009 Mrs F Osborne iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 03538009 2025-03-31 03538009 2026-03-31 03538009 2025-04-01 2026-03-31 03538009 frs-core:CurrentFinancialInstruments 2026-03-31 03538009 frs-core:ComputerEquipment 2026-03-31 03538009 frs-core:ComputerEquipment 2025-04-01 2026-03-31 03538009 frs-core:ComputerEquipment 2025-03-31 03538009 frs-core:FurnitureFittings 2026-03-31 03538009 frs-core:FurnitureFittings 2025-04-01 2026-03-31 03538009 frs-core:FurnitureFittings 2025-03-31 03538009 frs-core:LandBuildings frs-core:LeasedAssetsHeldAsLessee 2026-03-31 03538009 frs-core:LandBuildings frs-core:LeasedAssetsHeldAsLessee 2025-04-01 2026-03-31 03538009 frs-core:LandBuildings frs-core:LeasedAssetsHeldAsLessee 2025-03-31 03538009 frs-core:LandBuildings frs-core:OwnedOrFreeholdAssets 2025-04-01 2026-03-31 03538009 frs-core:MotorVehicles 2026-03-31 03538009 frs-core:MotorVehicles 2025-04-01 2026-03-31 03538009 frs-core:MotorVehicles 2025-03-31 03538009 frs-core:PlantMachinery 2026-03-31 03538009 frs-core:PlantMachinery 2025-04-01 2026-03-31 03538009 frs-core:PlantMachinery 2025-03-31 03538009 frs-core:ShareCapital 2026-03-31 03538009 frs-core:RetainedEarningsAccumulatedLosses 2026-03-31 03538009 frs-bus:PrivateLimitedCompanyLtd 2025-04-01 2026-03-31 03538009 frs-bus:FilletedAccounts 2025-04-01 2026-03-31 03538009 frs-bus:SmallEntities 2025-04-01 2026-03-31 03538009 frs-bus:AuditExempt-NoAccountantsReport 2025-04-01 2026-03-31 03538009 frs-bus:SmallCompaniesRegimeForAccounts 2025-04-01 2026-03-31 03538009 frs-bus:Director1 2025-04-01 2026-03-31 03538009 frs-countries:EnglandWales 2025-04-01 2026-03-31 03538009 2024-03-31 03538009 2025-03-31 03538009 2024-04-01 2025-03-31 03538009 frs-core:CurrentFinancialInstruments 2025-03-31 03538009 frs-core:ShareCapital 2025-03-31 03538009 frs-core:RetainedEarningsAccumulatedLosses 2025-03-31
Registered number: 03538009
Faros Engineering Ltd.
Unaudited Financial Statements
For The Year Ended 31 March 2026
Bishops Chartered Accountants
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—6
Page 1
Balance Sheet
Registered number: 03538009
2026 2025
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 11,575 5,317
11,575 5,317
CURRENT ASSETS
Stocks 5 23,213 24,060
Debtors 6 151,749 202,396
Cash at bank and in hand 290,436 225,790
465,398 452,246
Creditors: Amounts Falling Due Within One Year 7 (73,657 ) (78,935 )
NET CURRENT ASSETS (LIABILITIES) 391,741 373,311
TOTAL ASSETS LESS CURRENT LIABILITIES 403,316 378,628
PROVISIONS FOR LIABILITIES
Deferred Taxation (2,199 ) (481 )
NET ASSETS 401,117 378,147
CAPITAL AND RESERVES
Called up share capital 8 93 93
Profit and Loss Account 401,024 378,054
SHAREHOLDERS' FUNDS 401,117 378,147
Page 1
Page 2
For the year ending 31 March 2026 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 her 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
Mrs F Osborne
Director
01/07/2026
The notes on pages 3 to 6 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Faros Engineering Ltd. is a private company, limited by shares, incorporated in England & Wales, registered number 03538009 . The registered office is Look House Aldon Road, Poulton Industrial Estate, Poulton Le Fylde, Lancashire, FY6 8JL.
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:
Freehold 25% reducing balance
Leasehold 25% reducing balance
Plant & Machinery 25% reducing balance
Motor Vehicles 25% reducing balance
Fixtures & Fittings 25% reducing balance
Computer Equipment 33% straight line
2.4. 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.
Page 3
Page 4
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.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 8 (2025: 7)
8 7
4. Tangible Assets
Land & Property
Leasehold Plant & Machinery Motor Vehicles Fixtures & Fittings
£ £ £ £
Cost
As at 1 April 2025 7,206 55,515 - 12,785
Additions - - 8,625 -
As at 31 March 2026 7,206 55,515 8,625 12,785
Depreciation
As at 1 April 2025 7,175 50,809 - 12,785
Provided during the period - 1,071 708 -
As at 31 March 2026 7,175 51,880 708 12,785
...CONTINUED
Page 4
Page 5
Net Book Value
As at 31 March 2026 31 3,635 7,917 -
As at 1 April 2025 31 4,706 - -
Computer Equipment Total
£ £
Cost
As at 1 April 2025 11,977 87,483
Additions - 8,625
As at 31 March 2026 11,977 96,108
Depreciation
As at 1 April 2025 11,397 82,166
Provided during the period 588 2,367
As at 31 March 2026 11,985 84,533
Net Book Value
As at 31 March 2026 (8 ) 11,575
As at 1 April 2025 580 5,317
5. Stocks
2026 2025
£ £
Stock 23,213 24,060
6. Debtors
2026 2025
£ £
Due within one year
Trade debtors 143,991 193,827
Other debtors 7,758 8,569
151,749 202,396
Page 5
Page 6
7. Creditors: Amounts Falling Due Within One Year
2026 2025
£ £
Trade creditors 11,029 16,527
Other creditors 24,529 20,281
Taxation and social security 38,099 42,127
73,657 78,935
8. Share Capital
2026 2025
£ £
Allotted, Called up and fully paid 93 93
Page 6