4 false false false false false false false false false true false false false false false false No description of principal activity 2022-04-01 Sage Accounts Production Advanced 2021 - FRS102_2021 6,000 2,400 1,200 3,600 2,400 3,600 xbrli:pure xbrli:shares iso4217:GBP 02987527 2022-04-01 2023-03-31 02987527 2023-03-31 02987527 2022-03-31 02987527 2021-04-01 2022-03-31 02987527 2022-03-31 02987527 core:NetGoodwill 2022-04-01 2023-03-31 02987527 core:FurnitureFittings 2022-04-01 2023-03-31 02987527 bus:Director1 2022-04-01 2023-03-31 02987527 core:NetGoodwill 2022-03-31 02987527 core:NetGoodwill 2023-03-31 02987527 core:FurnitureFittings 2022-03-31 02987527 core:FurnitureFittings 2023-03-31 02987527 core:WithinOneYear 2023-03-31 02987527 core:WithinOneYear 2022-03-31 02987527 core:ShareCapital 2023-03-31 02987527 core:ShareCapital 2022-03-31 02987527 core:CapitalRedemptionReserve 2023-03-31 02987527 core:CapitalRedemptionReserve 2022-03-31 02987527 core:RetainedEarningsAccumulatedLosses 2023-03-31 02987527 core:RetainedEarningsAccumulatedLosses 2022-03-31 02987527 core:NetGoodwill 2022-03-31 02987527 core:FurnitureFittings 2022-03-31 02987527 bus:SmallEntities 2022-04-01 2023-03-31 02987527 bus:AuditExemptWithAccountantsReport 2022-04-01 2023-03-31 02987527 bus:FullAccounts 2022-04-01 2023-03-31 02987527 bus:SmallCompaniesRegimeForAccounts 2022-04-01 2023-03-31 02987527 bus:PrivateLimitedCompanyLtd 2022-04-01 2023-03-31 02987527 core:ComputerEquipment 2022-04-01 2023-03-31 02987527 core:ComputerEquipment 2022-03-31 02987527 core:ComputerEquipment 2023-03-31
COMPANY REGISTRATION NUMBER: 02987527
CORRIN SOFTWARE PRODUCTS LIMITED
FILLETED UNAUDITED FINANCIAL STATEMENTS
31 March 2023
CORRIN SOFTWARE PRODUCTS LIMITED
STATEMENT OF FINANCIAL POSITION
31 March 2023
2023
2022
Note
£
£
£
£
FIXED ASSETS
Intangible assets
5
2,400
3,600
Tangible assets
6
2,321
3,314
-------
-------
4,721
6,914
CURRENT ASSETS
Debtors
7
82,636
79,346
Cash at bank and in hand
119,878
138,727
---------
---------
202,514
218,073
CREDITORS: amounts falling due within one year
8
211,133
200,717
---------
---------
NET CURRENT (LIABILITIES)/ASSETS
( 8,619)
17,356
-------
--------
TOTAL ASSETS LESS CURRENT LIABILITIES
( 3,898)
24,270
-------
--------
NET (LIABILITIES)/ASSETS
( 3,898)
24,270
-------
--------
CAPITAL AND RESERVES
Called up share capital fully paid
66
266
Capital redemption reserve
233
33
Profit and loss account
( 4,197)
23,971
-------
--------
SHAREHOLDERS (DEFICIT)/FUNDS
( 3,898)
24,270
-------
--------
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 year ending 31 March 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 .
CORRIN SOFTWARE PRODUCTS LIMITED
STATEMENT OF FINANCIAL POSITION (continued)
31 March 2023
These financial statements were approved by the board of directors and authorised for issue on 11 September 2023 , and are signed on behalf of the board by:
Mr M G Hamill
Director
Company registration number: 02987527
CORRIN SOFTWARE PRODUCTS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
YEAR ENDED 31 MARCH 2023
1. GENERAL INFORMATION
The company is a private company limited by shares, registered in United Kingdom. The address of the registered office is The Old Town Hall, Market Place, Oundle, Peterborough, PE8 4BQ.
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.
Judgements and key sources of estimation uncertainty
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for services rendered, stated net of discounts and of Value Added Tax. In respect of long-term contracts and contracts for on-going services, turnover represents the value of work done in the year, including estimates of amounts not invoiced. Turnover in respect of long-term contracts and contracts for on-going services is recognised by reference to the stage of completion.
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.
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.
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:
Fixtures and fittings
-
15% reducing balance
Computer Equipment
-
33% straight line
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.
4. EMPLOYEE NUMBERS
The average number of persons employed by the company during the year amounted to 4 (2022: 4 ).
5. INTANGIBLE ASSETS
Goodwill
£
Cost
At 1 April 2022 and 31 March 2023
6,000
-------
Amortisation
At 1 April 2022
2,400
Charge for the year
1,200
-------
At 31 March 2023
3,600
-------
Carrying amount
At 31 March 2023
2,400
-------
At 31 March 2022
3,600
-------
6. TANGIBLE ASSETS
Fixtures and fittings
Equipment
Total
£
£
£
Cost
At 1 April 2022
12,630
15,375
28,005
Additions
212
1,869
2,081
--------
--------
--------
At 31 March 2023
12,842
17,244
30,086
--------
--------
--------
Depreciation
At 1 April 2022
11,963
12,728
24,691
Charge for the year
132
2,942
3,074
--------
--------
--------
At 31 March 2023
12,095
15,670
27,765
--------
--------
--------
Carrying amount
At 31 March 2023
747
1,574
2,321
--------
--------
--------
At 31 March 2022
667
2,647
3,314
--------
--------
--------
7. DEBTORS
2023
2022
£
£
Trade debtors
53,459
46,578
Other debtors
29,177
32,768
--------
--------
82,636
79,346
--------
--------
8. CREDITORS: amounts falling due within one year
2023
2022
£
£
Trade creditors
2,703
4,021
Corporation tax
17,710
22,120
Social security and other taxes
42,088
41,469
Other creditors
148,632
133,107
---------
---------
211,133
200,717
---------
---------