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No description of principal activity
2022-02-11
Sage Accounts Production Advanced 2021 - FRS102_2021
11,000
11,000
2,200
2,200
8,800
xbrli:pure
xbrli:shares
iso4217:GBP
13910207
2022-02-11
2023-02-28
13910207
2023-02-28
13910207
core:NetGoodwill
2022-02-11
2023-02-28
13910207
core:MotorVehicles
2022-02-11
2023-02-28
13910207
bus:LeadAgentIfApplicable
2022-02-11
2023-02-28
13910207
bus:Director1
2022-02-11
2023-02-28
13910207
core:NetGoodwill
2023-02-28
13910207
core:MotorVehicles
2023-02-28
13910207
core:WithinOneYear
2023-02-28
13910207
core:AfterOneYear
2023-02-28
13910207
core:ShareCapital
2023-02-28
13910207
core:RetainedEarningsAccumulatedLosses
2023-02-28
13910207
core:AcceleratedTaxDepreciationDeferredTax
2023-02-28
13910207
bus:Director1
2023-02-28
13910207
bus:SmallEntities
2022-02-11
2023-02-28
13910207
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2022-02-11
2023-02-28
13910207
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2022-02-11
2023-02-28
13910207
bus:SmallCompaniesRegimeForAccounts
2022-02-11
2023-02-28
13910207
bus:PrivateLimitedCompanyLtd
2022-02-11
2023-02-28
13910207
core:ComputerEquipment
2022-02-11
2023-02-28
13910207
core:ComputerEquipment
2023-02-28
COMPANY REGISTRATION NUMBER:
13910207
Filleted Unaudited Financial Statements |
|
Period from 11th February 2022 to 28th February 2023
Chartered Certified Accountants Report to the Director on the Preparation of the Unaudited Statutory Financial Statements |
1 |
|
|
Statement of Financial Position |
2 |
|
|
Notes to the Financial Statements |
4 |
|
|
Chartered Certified Accountants Report to the Director on the Preparation of the Unaudited Statutory Financial Statements of
CNC Guru Limited |
|
Period from 11th February 2022 to 28th February 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 CNC Guru Limited for the Period ended 28th February 2023, which comprise the statement of financial position and the 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 www.accaglobal.com/en/member/professional-standards/rules-standards/acca-rulebook.html. This report is made solely to the director of CNC Guru Limited in accordance with the terms of our engagement letter dated 11th February 2022. Our work has been undertaken solely to prepare for your approval the financial statements of CNC Guru Limited and state those matters that we have agreed to state to you in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at 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 CNC Guru Limited and its director for our work or for this report.
It is your duty to ensure that CNC Guru Limited 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 CNC Guru Limited. You consider that CNC Guru Limited is exempt from the statutory audit requirement for the Period. We have not been instructed to carry out an audit or a review of the financial statements of CNC Guru Limited. 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.
MJ GREEN ACCOUNTANCY SERVICES LTD
Chartered Certified Accountants
Unit 10
Silver End Business Park
Brettell Lane
Brierley Hill
West Midlands
DY5 3LG
8 November 2023
Statement of Financial Position |
|
28 February 2023
Fixed Assets
Intangible assets |
5 |
8,800 |
Tangible assets |
6 |
23,211 |
|
-------- |
|
32,011 |
|
|
|
Current Assets
Debtors |
7 |
13,528 |
Cash at bank and in hand |
22,108 |
|
-------- |
|
35,636 |
|
|
|
Creditors: amounts falling due within one year |
8 |
16,013 |
|
-------- |
Net Current Assets |
19,623 |
|
-------- |
Total Assets Less Current Liabilities |
51,634 |
|
|
|
Creditors: amounts falling due after more than one year |
9 |
15,317 |
|
|
|
Provisions
Taxation including deferred tax |
4,410 |
|
-------- |
Net Assets |
31,907 |
|
-------- |
|
|
Capital and Reserves
Called up share capital |
100 |
Profit and loss account |
31,807 |
|
-------- |
Shareholders Funds |
31,907 |
|
-------- |
|
|
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 comprehensive income has not been delivered.
For the Period ending 28th February 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
-
The members have not required the company to obtain an audit of its financial statements for the Period in question in accordance with section 476
;
-
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements
.
Statement of Financial Position (continued) |
|
28 February 2023
These financial statements were approved by the
board of directors
and authorised for issue on
8 November 2023
, and are signed on behalf of the board by:
Company registration number:
13910207
Notes to the Financial Statements |
|
Period from 11th February 2022 to 28th February 2023
1.
General Information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Unit 10, Silver End Business Park, Brettell Lane, Brierley Hill, West Midlands, DY5 3LG, England.
2.
Statement of Compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the 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.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for goods supplied and services rendered, stated net of discounts and of Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership of the goods 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. When the outcome of a transaction involving the rendering of services can be reliably estimated, revenue from the rendering of services is measured by reference to the stage of completion of the service transaction at the end of the reporting period. When the outcome of a transaction involving the rendering of services cannot be reliably estimated, revenue is recognised only to the extent that expenses recognised are recoverable.
Income tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, 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.
Goodwill
Goodwill arises on business acquisitions and represents the excess of the cost of the acquisition over the company's interest in the net amount of the identifiable assets, liabilities and contingent liabilities of the acquired business. Goodwill is measured at cost less accumulated amortisation and accumulated impairment losses. It is amortised on a straight-line basis over its useful life. Where a reliable estimate of the useful life of goodwill or intangible assets cannot be made, the life is presumed not to exceed ten years.
Amortisation
Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of that asset as follows:
|
Goodwill |
- |
20% straight line |
|
|
|
|
If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates.
Tangible assets
Tangible assets are initially recorded at cost, and 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 equity, 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 equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity 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:
|
Motor vehicles |
- |
25% reducing balance |
|
Computer equipment |
- |
33% straight line |
|
|
|
|
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.
Finance leases and hire purchase contracts
Assets held under finance leases and hire purchase contracts are recognised in the statement of financial position as assets and liabilities at the lower of the fair value of the assets and the present value of the minimum lease payments, which is determined at the inception of the lease term. Any initial direct costs of the lease are added to the amount recognised as an asset. Lease payments are apportioned between the finance charges and reduction of the outstanding lease liability using the effective interest method. Finance charges are allocated to each period so as to produce a constant rate of interest on the remaining balance of the 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 as a finance cost in profit or loss in the period it arises.
4.
Employee Numbers
The average number of persons employed by the company during the Period amounted to
1
.
5.
Intangible Assets
|
Goodwill |
|
£ |
Cost |
|
Additions |
11,000 |
|
-------- |
At 28th February 2023 |
11,000 |
|
-------- |
Amortisation |
|
Charge for the Period |
2,200 |
|
-------- |
At 28th February 2023 |
2,200 |
|
-------- |
Carrying amount |
|
At 28th February 2023 |
8,800 |
|
-------- |
|
|
6.
Tangible Assets
|
Motor vehicles |
Computer equipment |
Total |
|
£ |
£ |
£ |
Cost |
|
|
|
At 11th February 2022 |
– |
– |
– |
Additions |
30,089 |
966 |
31,055 |
|
-------- |
---- |
-------- |
At 28th February 2023 |
30,089 |
966 |
31,055 |
|
-------- |
---- |
-------- |
Depreciation |
|
|
|
At 11th February 2022 |
– |
– |
– |
Charge for the period |
7,522 |
322 |
7,844 |
|
-------- |
---- |
-------- |
At 28th February 2023 |
7,522 |
322 |
7,844 |
|
-------- |
---- |
-------- |
Carrying amount |
|
|
|
At 28th February 2023 |
22,567 |
644 |
23,211 |
|
-------- |
---- |
-------- |
|
|
|
|
7.
Debtors
|
28 Feb 23 |
|
£ |
Trade debtors |
13,528 |
|
-------- |
|
|
8.
Creditors:
amounts falling due within one year
|
28 Feb 23 |
|
£ |
Corporation tax |
3,979 |
Social security and other taxes |
4,334 |
Other creditors |
7,700 |
|
-------- |
|
16,013 |
|
-------- |
|
|
9.
Creditors:
amounts falling due after more than one year
|
28 Feb 23 |
|
£ |
Other creditors |
15,317 |
|
-------- |
|
|
10.
Deferred Tax
The deferred tax included in the statement of financial position is as follows:
|
28 Feb 23 |
|
£ |
Included in provisions |
4,410 |
|
------- |
|
|
The deferred tax account consists of the tax effect of timing differences in respect of:
|
28 Feb 23 |
|
£ |
Accelerated capital allowances |
4,410 |
|
------- |
|
|
11.
Director's Advances, Credits and Guarantees
During the Period the director entered into the following advances and credits with the company:
|
28 Feb 23 |
|
|
Balance brought forward |
Advances/ (credits) to the director |
Amounts repaid |
Balance outstanding |
|
|
£ |
£ |
£ |
£ |
|
K Shenton |
– |
(
37,677) |
35,694 |
(
1,983) |
|
|
---- |
-------- |
-------- |
------- |
|
|
|
|
|
|