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Registered number: 06412864
Cumbria Superglaze Limited
Unaudited ABRIDGED Financial Statements
For The Year Ended 30 September 2023
SeavorChartered
Chartered Accountants & Tax Advisers
Clifford Court
Cooper Way
Carlisle
Cumbria
CA3 0JG
Unaudited Financial Statements
Contents
Page
Abridged Balance Sheet 1—2
Notes to the Abridged Financial Statements 3—5
Page 1
Abridged Balance Sheet
Registered number: 06412864
2023 2022
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 92,254 24,166
92,254 24,166
CURRENT ASSETS
Stocks 31,627 24,750
Debtors 251,575 247,883
Cash at bank and in hand 1,175,019 1,083,442
1,458,221 1,356,075
Creditors: Amounts Falling Due Within One Year (919,534 ) (796,600 )
NET CURRENT ASSETS (LIABILITIES) 538,687 559,475
TOTAL ASSETS LESS CURRENT LIABILITIES 630,941 583,641
Creditors: Amounts Falling Due After More Than One Year (53,333 ) (73,333 )
PROVISIONS FOR LIABILITIES
Deferred Taxation (8,063 ) (4,592 )
NET ASSETS 569,545 505,716
CAPITAL AND RESERVES
Called up share capital 6 400 400
Profit and Loss Account 569,145 505,316
SHAREHOLDERS' FUNDS 569,545 505,716
Page 1
Page 2
For the year ending 30 September 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.
All of the company's members have consented to the preparation of an Abridged Balance Sheet for the year end 30 September 2023 in accordance with section 444(2A) of the Companies Act 2006.
On behalf of the board
Mr Brian Fletcher
Director
6 March 2024
The notes on pages 3 to 5 form part of these financial statements.
Page 2
Page 3
Notes to the Abridged Financial Statements
1. General Information
Cumbria Superglaze Limited is a private company, limited by shares, incorporated in England & Wales, registered number 06412864 . The registered office is Unit 1C Buddle Road, Clay Flatts Industrial Estate, Workington, Cumbria, CA14 3YD.
2. Accounting Policies
2.1. 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.
2.2. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. 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 No depreciation
Motor Vehicles 25% reducing balance
Fixtures & Fittings 25% straight line
Computer Equipment 25% straight line
2.4. Stocks and Work in Progress
Stocks and work in progress 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. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
2.5. Financial Instruments
The Company only enters into basic financial instrument transactions that result in the recognition of financial asset sand liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties investments in non-puttable ordinary shares.
Debt instruments (other than those wholly repayable or receivable within one year), including loans and other accounts receivable and payable, are initially measured at present value of the future cash flows and subsequently at amortised cost using the effective interest method. Debt instruments that are payable or receivable within on year, typically trade debtors and creditors, are measured, initially and subsequently, at the undiscounted amount of the cash or other consideration expected to be paid or received. However, if the the arrangements of a short-term instrument consittutes a financial transaction, like the payment of a trade debt deferred beyond normal business terms or financed at a rate of interest that is not a market rate or in the case of an out-right short-term loan not at market rate, the financial asset or liability is measured, initially, at the present value of the future cash flow discounted at a market rate of interest for a similar debt instrument and subsequently at amortised cost.
Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found , an impairment loss is recognised in the Statement of comprehensive income.
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2.6. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current or deferred tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.
2.7. Pensions
The company operates a defined pension contribution scheme. Contributions are charged to the profit and loss account as they become payable in accordance with the rules of the scheme.
2.8. Government Grant
Government and other Covid related grants are recognised in the profit and loss account when receivable. 
3. Average Number of Employees
Average number of employees, including directors, during the year was: 17 (2022: 16)
17 16
4. Tangible Assets
Total
£
Cost
As at 1 October 2022 70,691
Additions 80,000
As at 30 September 2023 150,691
Depreciation
As at 1 October 2022 46,525
Provided during the period 11,912
As at 30 September 2023 58,437
Net Book Value
As at 30 September 2023 92,254
As at 1 October 2022 24,166
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5. Secured Creditors
Of the creditors the following amounts are secured.
2023 2022
£ £
Bank loans and overdrafts 73,333 93,333
6. Share Capital
2023 2022
£ £
Allotted, Called up and fully paid 400 400
7. Related Party Transactions
At the balance sheet date total loans of £609,837 were owed to the directors by the company (2022 £526,530). The loans are interest free, unsecured and repayable on demand.
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