Acorah Software Products - Accounts Production 14.5.601 false true 31 July 2022 1 August 2021 false 1 August 2022 31 July 2023 31 July 2023 SC287159 Mr John Cunningham Mrs Brenda Cunningham Mr Matthew Cunningham true iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure SC287159 2022-07-31 SC287159 2023-07-31 SC287159 2022-08-01 2023-07-31 SC287159 frs-core:CurrentFinancialInstruments 2023-07-31 SC287159 frs-core:Non-currentFinancialInstruments 2023-07-31 SC287159 frs-core:BetweenOneFiveYears 2023-07-31 SC287159 frs-core:ComputerEquipment 2023-07-31 SC287159 frs-core:ComputerEquipment 2022-08-01 2023-07-31 SC287159 frs-core:ComputerEquipment 2022-07-31 SC287159 frs-core:FurnitureFittings 2023-07-31 SC287159 frs-core:FurnitureFittings 2022-08-01 2023-07-31 SC287159 frs-core:FurnitureFittings 2022-07-31 SC287159 frs-core:NetGoodwill 2023-07-31 SC287159 frs-core:NetGoodwill 2022-08-01 2023-07-31 SC287159 frs-core:NetGoodwill 2022-07-31 SC287159 frs-core:LandBuildings frs-core:OwnedOrFreeholdAssets 2022-08-01 2023-07-31 SC287159 frs-core:MotorVehicles 2023-07-31 SC287159 frs-core:MotorVehicles 2022-08-01 2023-07-31 SC287159 frs-core:MotorVehicles 2022-07-31 SC287159 frs-core:WithinOneYear 2023-07-31 SC287159 frs-core:ShareCapital 2023-07-31 SC287159 frs-core:RetainedEarningsAccumulatedLosses 2023-07-31 SC287159 frs-bus:PrivateLimitedCompanyLtd 2022-08-01 2023-07-31 SC287159 frs-bus:FilletedAccounts 2022-08-01 2023-07-31 SC287159 frs-bus:SmallEntities 2022-08-01 2023-07-31 SC287159 frs-bus:AuditExempt-NoAccountantsReport 2022-08-01 2023-07-31 SC287159 frs-bus:SmallCompaniesRegimeForAccounts 2022-08-01 2023-07-31 SC287159 1 2022-08-01 2023-07-31 SC287159 frs-core:ProvisionsDeferredTax 2023-07-31 SC287159 frs-bus:Director1 2022-08-01 2023-07-31 SC287159 frs-bus:Director2 2022-08-01 2023-07-31 SC287159 frs-bus:Director3 2022-08-01 2023-07-31 SC287159 1 2022-08-01 2023-07-31 SC287159 frs-core:CurrentFinancialInstruments 1 2023-07-31 SC287159 frs-core:Non-currentFinancialInstruments 1 2023-07-31 SC287159 frs-countries:Scotland 2022-08-01 2023-07-31 SC287159 2021-07-31 SC287159 2022-07-31 SC287159 2021-08-01 2022-07-31 SC287159 frs-core:CurrentFinancialInstruments 2022-07-31 SC287159 frs-core:Non-currentFinancialInstruments 2022-07-31 SC287159 frs-core:BetweenOneFiveYears 2022-07-31 SC287159 frs-core:WithinOneYear 2022-07-31 SC287159 frs-core:ShareCapital 2022-07-31 SC287159 frs-core:RetainedEarningsAccumulatedLosses 2022-07-31 SC287159 frs-core:ProvisionsDeferredTax 2022-07-31 SC287159 1 2021-08-01 2022-07-31 SC287159 frs-core:CurrentFinancialInstruments 1 2022-07-31 SC287159 frs-core:Non-currentFinancialInstruments 1 2022-07-31
Registered number: SC287159
Cunningham Carpets Limited
Financial Statements
For The Year Ended 31 July 2023
Gillespie's
Chartered Accountants
33 Leslie Street
Blairgowrie
Perthshire
PH10 6AW
Financial Statements
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—6
Page 1
Balance Sheet
Registered number: SC287159
2023 2022
Notes £ £ £ £
FIXED ASSETS
Intangible Assets 3 75,000 82,500
Tangible Assets 4 23,293 29,921
98,293 112,421
CURRENT ASSETS
Stocks 5 5,000 7,917
Debtors 6 43,413 50,932
Cash at bank and in hand 50,826 58,547
99,239 117,396
Creditors: Amounts Falling Due Within One Year 7 (115,332 ) (123,596 )
NET CURRENT ASSETS (LIABILITIES) (16,093 ) (6,200 )
TOTAL ASSETS LESS CURRENT LIABILITIES 82,200 106,221
Creditors: Amounts Falling Due After More Than One Year 8 (25,530 ) (36,142 )
PROVISIONS FOR LIABILITIES
Deferred Taxation 10 (4,426 ) (5,685 )
NET ASSETS 52,244 64,394
CAPITAL AND RESERVES
Called up share capital 11 2 2
Profit and Loss Account 52,242 64,392
SHAREHOLDERS' FUNDS 52,244 64,394
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For the year ending 31 July 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their 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
Mr John Cunningham
Director
Mrs Brenda Cunningham
Director
5th April 2024
The notes on pages 3 to 6 form part of these financial statements.
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Notes to the Financial Statements
1. Accounting Policies
1.1. 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.
1.2. Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
1.3. Intangible Fixed Assets and Amortisation - Goodwill
Goodwill is the difference between amounts paid on the acquisition of a business in 2014, and the fair value of the separable net assets. It is amortised to profit and loss account over its estimated economic life of twenty years.
1.4. Tangible Fixed Assets and Depreciation
Tangible fixed assets are stated at cost less depreciation. 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 nil
Motor Vehicles 25% on reducing balance
Fixtures & Fittings 15% on reducing balance
Computer Equipment 25% on reducing balance
1.5. Leasing and Hire Purchase Contracts
Assets obtained under finance leases are capitalised as tangible fixed assets. Assets acquired under finance leases are depreciated over the shorter of the lease term and their useful lives. Assets acquired under hire purchase contracts are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in the creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.

Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to profit and loss account as incurred.
1.6. Stocks and Work in Progress
Stocks 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.
1.7. Taxation
The charge for taxation takes into account taxation deferred as a result of timing differences between the treatment of certain items for taxation and accounting purposes. In general, deferred taxation is recognised in respect of timing differences that have originated but not reversed at the balance sheet date. However, deferred tax assets are recognised only to the extent that the directors consider that it is more likely than not that there will be suitable taxable profits from which the future reversal of the underlying timing differences can be deducted. Deferred taxation is measured on a non-discounted basis at the tax rates that are expected to apply in periods in which the timing differences reverse, based on tax rates and the law enacted or substantively enacted at the balance sheet date.
1.8. Registrar Filing Requirements
The company has taken advantage of Companies Act 2006 section 444(1) and opted not to file the profit and loss account, directors report, and notes to the financial statements relating to the profit and loss account.
2. Average Number of Employees
Average number of employees, including directors, during the year was as follows:
2023 2022
Office and administration 5 5
Sales, marketing and distribution 2 2
Directors 3 3
10 10
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3. Intangible Assets
Goodwill
£
Cost
As at 1 August 2022 150,000
As at 31 July 2023 150,000
Amortisation
As at 1 August 2022 67,500
Provided during the period 7,500
As at 31 July 2023 75,000
Net Book Value
As at 31 July 2023 75,000
As at 1 August 2022 82,500
4. Tangible Assets
Motor Vehicles Fixtures & Fittings Computer Equipment Total
£ £ £ £
Cost
As at 1 August 2022 45,352 7,075 91 52,518
Additions - - 464 464
As at 31 July 2023 45,352 7,075 555 52,982
Depreciation
As at 1 August 2022 20,490 2,024 83 22,597
Provided during the period 6,216 758 118 7,092
As at 31 July 2023 26,706 2,782 201 29,689
Net Book Value
As at 31 July 2023 18,646 4,293 354 23,293
As at 1 August 2022 24,862 5,051 8 29,921
5. Stocks
2023 2022
£ £
Stock 5,000 7,917
6. Debtors
2023 2022
£ £
Due within one year
Trade debtors 43,006 50,553
Prepayments and accrued income 407 379
43,413 50,932
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Page 5
7. Creditors: Amounts Falling Due Within One Year
2023 2022
£ £
Net obligations under finance lease and hire purchase contracts 4,775 4,414
Trade creditors 41,226 35,941
Corporation tax 19,450 14,443
Other taxes and social security 2,975 2,248
VAT 1,551 1,111
Bank loan - 1,558
Bounce Back Loan less than 1 year 6,389 6,389
Accruals and deferred income 3,087 5,760
Directors' loan accounts 35,879 51,732
115,332 123,596
8. Creditors: Amounts Falling Due After More Than One Year
2023 2022
£ £
Net obligations under finance lease and hire purchase contracts 13,516 18,291
Bounce Back Loan 12,014 17,851
25,530 36,142
9. Obligations Under Finance Leases and Hire Purchase
2023 2022
£ £
The maturity of these amounts is as follows:
Within one year 4,775 4,414
Between one and five years 13,516 18,291
18,291 22,705
18,291 22,705
10. Deferred Taxation
The provision for deferred tax is made up as follows:
2023 2022
£ £
Deferred Tax 4,426 5,685
11. Share Capital
2023 2022
£ £
Allotted, Called up and fully paid 2 2
12. Directors Advances, Credits and Guarantees
Dividends paid to directors
2023 2022
£ £
Mrs Brenda Cunningham 37,500 25,000
Mr John Cunningham 37,500 25,000
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13. Dividends
2023 2022
£ £
On equity shares:
Interim dividend paid 75,000 50,000
75,000 50,000
14. Ultimate Controlling Party
Mr J and Mrs B Cunningham own 100% of the share capital of the company and therefore have joint control.
15. General Information
Cunningham Carpets Limited Registered number SC287159 is a limited by shares company incorporated in Scotland. The Registered Office is 28/30 Leslie Street, BLAIRGOWRIE, Perthshire, PH10 6AH.
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