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Company registration number: 01514281
Central Computer Management Ltd
Trading as LivePay
Unaudited filleted financial statements
31 August 2023
Central Computer Management Ltd
Contents
Directors and other information
Accountants report
Statement of financial position
Notes to the financial statements
Central Computer Management Ltd
Directors and other information
Directors Mr Keith Johnson
Mrs Sylvia Irene Johnson
Mr Marc Johnson
Company number 01514281
Registered office Sovereign House
Lower Oakham Way
Oakham Business Park
Mansfield
NG18 5BY
Business address Sovereign House
Lower Oakham Way
Oakham Business Park
Mansfield
NG18 5BY
Accountants Lister and Co
75 High Street
Boston
Lincs
PE21 8SX
Central Computer Management Ltd
Report to the board of directors on the preparation of the
unaudited statutory financial statements of Central Computer Management Ltd
Year ended 31 August 2023
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Central Computer Management Ltd for the year ended 31 August 2023 which comprise the statement of financial position and related notes from the company's accounting records and from information and explanations you have given us.
As a practising member firm of the Association of Chartered Certified Accountants , we are subject to its ethical and other professional requirements which are detailed at http://www.accaglobal.com/en/member/ professional-standards/ rules-standards/acca-rulebook.html.
This report is made solely to the board of directors of Central Computer Management Ltd, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the financial statements of Central Computer Management Ltd and state those matters that we have agreed to state to the board of directors of Central Computer Management Ltd as a body, in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/content/dam/ACCA_Global /Technical/fact/technical-factsheet-163.pdf. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Central Computer Management Ltd and its board of directors as a body for our work or for this report.
It is your duty to ensure that Central Computer Management Ltd has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Central Computer Management Ltd. You consider that Central Computer Management Ltd is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit or a review of the financial statements of Central Computer Management Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.
Lister and Co
ACCA
75 High Street
Boston
Lincs
PE21 8SX
17 October 2023
Central Computer Management Ltd
Statement of financial position
31 August 2023
2023 2022
Note £ £ £ £
Fixed assets
Tangible assets 5 116,711 94,123
_______ _______
116,711 94,123
Current assets
Stocks 3,153 3,085
Debtors 6 104,818 98,861
Cash at bank and in hand 221,840 288,865
_______ _______
329,811 390,811
Creditors: amounts falling due
within one year 7 ( 66,833) ( 113,725)
_______ _______
Net current assets 262,978 277,086
_______ _______
Total assets less current liabilities 379,689 371,209
Creditors: amounts falling due
after more than one year 8 ( 525) ( 3,220)
Provisions for liabilities ( 29,178) ( 17,883)
_______ _______
Net assets 349,986 350,106
_______ _______
Capital and reserves
Called up share capital 9 103 103
Profit and loss account 349,883 350,003
_______ _______
Shareholders funds 349,986 350,106
_______ _______
For the year ending 31 August 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
These financial statements were approved by the board of directors and authorised for issue on 17 October 2023 , and are signed on behalf of the board by:
Mr Marc Johnson
Director
Company registration number: 01514281
Central Computer Management Ltd
Notes to the financial statements
Year ended 31 August 2023
1. General information
The company is a private company limited by shares, registered in England. The address of the registered office is Sovereign House, Lower Oakham Way, Oakham Business Park, Mansfield, NG18 5BY.
2. Statement of compliance
These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Turnover
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax.
Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the statement of comprehensive income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
Tangible assets
tangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in capital and reserves, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in capital and reserves in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in capital and reserves in respect of that asset, the excess shall be recognised in profit or loss.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Computer equipment etc - 20 % straight line
Office equipment - 20 % reducing balance
Motor vehicles - 20 % straight line
If there is an indication that there has been a significant change in depreciation rate, useful life or residual value of tangible assets, the depreciation is revised prospectively to reflect the new estimates.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stocks to their present location and condition.
Government grants
Government grants are recognised at the fair value of the asset received or receivable. Grants are not recognised until there is reasonable assurance that the company will comply with the conditions attaching to them and the grants will be received. Government grants are recognised using the accrual model and the performance model. Under the accrual model, government grants relating to revenue are recognised on a systematic basis over the periods in which the company recognises the related costs for which the grant is intended to compensate. Grants that are receivable as compensation for expenses or losses already incurred or for the purpose of giving immediate financial support to the entity with no future related costs are recognised in income in the period in which it becomes receivable. Grants relating to assets are recognised in income on a systematic basis over the expected useful life of the asset. Where part of a grant relating to an asset is deferred, it is recognised as deferred income and not deducted from the carrying amount of the asset. Under the performance model, where the grant does not impose specified future performance-related conditions on the recipient, it is recognised in income when the grant proceeds are received or receivable. Where the grant does impose specified future performance-related conditions on the recipient, it is recognised in income only when the performance-related conditions have been met. Where grants received are prior to satisfying the revenue recognition criteria, they are recognised as a liability.
Provisions
Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event; it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised in finance costs in profit or loss in the period it arises.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised in finance costs in profit or loss in the period in which it arises.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 17 (2022: 17 ).
5. Tangible assets
Computer equipment & software etc Office equipment Motor vehicles Total
£ £ £ £
Cost
At 1 September 2022 202,861 54,313 114,121 371,295
Additions 7,425 11,992 55,057 74,474
Disposals ( 16,461) ( 1,073) - ( 17,534)
_______ _______ _______ _______
At 31 August 2023 193,825 65,232 169,178 428,235
_______ _______ _______ _______
Depreciation
At 1 September 2022 169,347 42,632 65,193 277,172
Charge for the year 14,619 3,272 33,833 51,724
Disposals ( 16,411) ( 961) - ( 17,372)
_______ _______ _______ _______
At 31 August 2023 167,555 44,943 99,026 311,524
_______ _______ _______ _______
Carrying amount
At 31 August 2023 26,270 20,289 70,152 116,711
_______ _______ _______ _______
At 31 August 2022 33,514 11,681 48,928 94,123
_______ _______ _______ _______
6. Debtors
2023 2022
£ £
Trade debtors 77,098 73,339
Prepayments and accrued income 27,507 25,522
Other debtors 213 -
_______ _______
104,818 98,861
_______ _______
7. Creditors: amounts falling due within one year
2023 2022
£ £
Trade creditors 2,394 23,620
Accruals and deferred income 4,975 27,342
Corporation tax 12,543 14,254
Social security and other taxes 29,744 30,288
Other creditors 17,177 18,221
_______ _______
66,833 113,725
_______ _______
8. Creditors: amounts falling due after more than one year
2023 2022
£ £
Other creditors 525 3,220
_______ _______
9. Called up share capital
Issued, called up and fully paid
2023 2022
No £ No £
Ordinary shares shares of £ 1.00 each 100 100 100 100
Ordinary A shares shares of £ 1.00 each 1 1 1 1
Ordinary B shares shares of £ 1.00 each 1 1 1 1
Ordinary C shares shares of £ 1.00 each 1 1 1 1
_______ _______ _______ _______
103 103 103 103
_______ _______ _______ _______