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REGISTERED NUMBER: 04319825 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022

FOR

COURTNEY-THORNE LTD

COURTNEY-THORNE LTD (REGISTERED NUMBER: 04319825)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2022




Page

Company Information 1

Abridged Balance Sheet 2

Notes to the Financial Statements 4


COURTNEY-THORNE LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 31 DECEMBER 2022







DIRECTORS: Mr G Vickrage
Mrs L Bown
Mr A R Vale
Mr D J Hewitt





SECRETARY: Mr G Vickrage





REGISTERED OFFICE: Arrowsmith Court
Station Approach
Broadstone
Dorset
BH18 8AT





REGISTERED NUMBER: 04319825 (England and Wales)





ACCOUNTANTS: Newton Magnus
Chartered Certified Accountants
Arrowsmith Court
Station Approach
Broadstone
Dorset
BH18 8AT

COURTNEY-THORNE LTD (REGISTERED NUMBER: 04319825)

ABRIDGED BALANCE SHEET
31 DECEMBER 2022

2022 2021
Notes £    £   
FIXED ASSETS
Intangible assets 4 565,618 573,096
Tangible assets 5 250,672 281,565
816,290 854,661

CURRENT ASSETS
Stocks 766,223 871,663
Debtors 534,473 222,357
Cash at bank and in hand 47 119,602
1,300,743 1,213,622
CREDITORS
Amounts falling due within one year (830,085 ) (795,866 )
NET CURRENT ASSETS 470,658 417,756
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,286,948

1,272,417

CREDITORS
Amounts falling due after more than
one year

(25,817

)

(35,422

)

PROVISIONS FOR LIABILITIES (87,139 ) (89,720 )
NET ASSETS 1,173,992 1,147,275

COURTNEY-THORNE LTD (REGISTERED NUMBER: 04319825)

ABRIDGED BALANCE SHEET - continued
31 DECEMBER 2022

2022 2021
Notes £    £   
CAPITAL AND RESERVES
Called up share capital 101,509 101,509
Share premium 7,966 7,966
Capital redemption reserve 103,717 103,717
Other reserves 22,271 22,271
Retained earnings 938,529 911,812
SHAREHOLDERS' FUNDS 1,173,992 1,147,275

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2022.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2022 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

All the members have consented to the preparation of an abridged Income Statement and an abridged Balance Sheet for the year ended 31 December 2022 in accordance with Section 444(2A) of the Companies Act 2006.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 30 October 2023 and were signed on its behalf by:





Mr G Vickrage - Director


COURTNEY-THORNE LTD (REGISTERED NUMBER: 04319825)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2022

1. STATUTORY INFORMATION

Courtney-Thorne Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover represents the value of goods and services supplied during the year, excluding value added tax.

Intangible fixed assets
Goodwill, being the amount paid in connection with the acquisition of a business in 2002, is being amortised evenly over its estimated useful life of 20 years .Upon transition to FRS 102 the policy has been reviewed and considered reliable. The business considers there is evidence to support the remaining useful life of 5 years . It is therefore not required to adjust the expected amortisation profile.

Intangible assets
Development expenditure in relation to the Altra project is capitalised up to the date of production which commenced 2017 . It will be amortised evenly over its useful life of 5 years.
Development expenditure on two further projects, NCS Cloud and Altra 2 , is being amortised evenly over 5 years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Improvements to property - 5% on cost
Tools & equipment - 25% on reducing balance
Office fixtures & fittings - 25% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 25% on cost

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.


COURTNEY-THORNE LTD (REGISTERED NUMBER: 04319825)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2022

2. ACCOUNTING POLICIES - continued
Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 37 (2021 - 37 ) .

COURTNEY-THORNE LTD (REGISTERED NUMBER: 04319825)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2022

4. INTANGIBLE FIXED ASSETS
Totals
£   
COST
At 1 January 2022 2,384,913
Additions 285,531
At 31 December 2022 2,670,444
AMORTISATION
At 1 January 2022 1,811,817
Amortisation for year 293,009
At 31 December 2022 2,104,826
NET BOOK VALUE

At 31 December 2022 565,618
At 31 December 2021 573,096

5. TANGIBLE FIXED ASSETS
Totals
£   
COST
At 1 January 2022 694,451
Additions 2,446
At 31 December 2022 696,897
DEPRECIATION
At 1 January 2022 412,886
Charge for year 33,339
At 31 December 2022 446,225
NET BOOK VALUE
At 31 December 2022 250,672
At 31 December 2021 281,565