Acorah Software Products - Accounts Production 15.0.500 false true 31 October 2022 1 November 2021 false 1 November 2022 31 October 2023 31 October 2023 08262418 Mr Clint Beagle Mrs Lisa Beagle C V Beagle true iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 08262418 2022-10-31 08262418 2023-10-31 08262418 2022-11-01 2023-10-31 08262418 frs-core:CurrentFinancialInstruments 2023-10-31 08262418 frs-core:ComputerEquipment 2023-10-31 08262418 frs-core:ComputerEquipment 2022-11-01 2023-10-31 08262418 frs-core:ComputerEquipment 2022-10-31 08262418 frs-core:DevelopmentCostsCapitalisedDevelopmentExpenditure 2023-10-31 08262418 frs-core:DevelopmentCostsCapitalisedDevelopmentExpenditure 2022-11-01 2023-10-31 08262418 frs-core:DevelopmentCostsCapitalisedDevelopmentExpenditure 2022-10-31 08262418 frs-core:FurnitureFittings 2023-10-31 08262418 frs-core:FurnitureFittings 2022-11-01 2023-10-31 08262418 frs-core:FurnitureFittings 2022-10-31 08262418 frs-core:PlantMachinery 2023-10-31 08262418 frs-core:PlantMachinery 2022-11-01 2023-10-31 08262418 frs-core:PlantMachinery 2022-10-31 08262418 frs-core:ShareCapital 2023-10-31 08262418 frs-core:RetainedEarningsAccumulatedLosses 2023-10-31 08262418 frs-bus:PrivateLimitedCompanyLtd 2022-11-01 2023-10-31 08262418 frs-bus:FilletedAccounts 2022-11-01 2023-10-31 08262418 frs-bus:SmallEntities 2022-11-01 2023-10-31 08262418 frs-bus:AuditExempt-NoAccountantsReport 2022-11-01 2023-10-31 08262418 frs-bus:SmallCompaniesRegimeForAccounts 2022-11-01 2023-10-31 08262418 1 2022-11-01 2023-10-31 08262418 frs-bus:Director1 2022-11-01 2023-10-31 08262418 frs-bus:CompanySecretary1 2022-11-01 2023-10-31 08262418 frs-core:CurrentFinancialInstruments 1 2023-10-31 08262418 frs-countries:EnglandWales 2022-11-01 2023-10-31 08262418 2021-10-31 08262418 2022-10-31 08262418 2021-11-01 2022-10-31 08262418 frs-core:CurrentFinancialInstruments 2022-10-31 08262418 frs-core:ShareCapital 2022-10-31 08262418 frs-core:RetainedEarningsAccumulatedLosses 2022-10-31 08262418 frs-core:CurrentFinancialInstruments 1 2022-10-31
Registered number: 08262418
CVB Technical Solutions Limited
Unaudited Financial Statements
For The Year Ended 31 October 2023
Clouders (Audit & Accounts) Ltd
Charter House
103-105 Leigh Road
Leigh-on-Sea
Essex
SS9 1JL
Unaudited Financial Statements
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—6
Page 1
Balance Sheet
Registered number: 08262418
2023 2022
Notes £ £ £ £
FIXED ASSETS
Intangible Assets 4 5,616 11,232
Tangible Assets 5 3,800 3,888
9,416 15,120
CURRENT ASSETS
Stocks 6 6,250 7,000
Debtors 7 27,791 25,948
Cash at bank and in hand 34,216 35,898
68,257 68,846
Creditors: Amounts Falling Due Within One Year 8 (17,691 ) (22,182 )
NET CURRENT ASSETS (LIABILITIES) 50,566 46,664
TOTAL ASSETS LESS CURRENT LIABILITIES 59,982 61,784
PROVISIONS FOR LIABILITIES
Deferred Taxation (629 ) (739 )
NET ASSETS 59,353 61,045
CAPITAL AND RESERVES
Called up share capital 9 25,000 25,000
Profit and Loss Account 34,353 36,045
SHAREHOLDERS' FUNDS 59,353 61,045
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For the year ending 31 October 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his 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 Clint Beagle
Director
31/07/2024
The notes on pages 3 to 6 form part of these financial statements.
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Notes to the Financial Statements
1. General Information
CVB Technical Solutions Limited is a private company, limited by shares, incorporated in England & Wales, registered number 08262418 . The registered office is Charter House, 103-105 Leigh Road, Leigh-on-Sea, Essex, SS9 1JL.
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. Research and Development
In the research phase of an internal project it is not possible to demonstrate that the project will generate future economic benefits and hence all expenditure on research is recognised as an expense when it is incurred. Intangible assets are recognised from the development phase of a project if and only if certain specific criteria are met in order to demonstrate the asset will generate probable future economic benefits and that its cost can be reliably measured. The capitalised development costs are subsequently amortised to ... on a straight line basis over their expected useful economic lives, which range from ... to ... years.
If it is not possible to distinguish between the research phase and the development phase of an internal project the expenditure is treated as if it were all incurred in the research phase only.
2.4. 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:
Plant & Machinery 25% on reducing balance
Fixtures & Fittings 25% on reducing balance
Computer Equipment 33% on cost
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2.5. 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.
2.6. 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.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 4 (2022: 4)
4 4
4. Intangible Assets
Development Costs
£
Cost
As at 1 November 2022 28,081
As at 31 October 2023 28,081
Amortisation
As at 1 November 2022 16,849
Provided during the period 5,616
As at 31 October 2023 22,465
...CONTINUED
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Net Book Value
As at 31 October 2023 5,616
As at 1 November 2022 11,232
5. Tangible Assets
Plant & Machinery Fixtures & Fittings Computer Equipment Total
£ £ £ £
Cost
As at 1 November 2022 16,022 - 2,928 18,950
Additions 510 - 959 1,469
As at 31 October 2023 16,532 - 3,887 20,419
Depreciation
As at 1 November 2022 13,396 - 1,666 15,062
Provided during the period 673 - 884 1,557
As at 31 October 2023 14,069 - 2,550 16,619
Net Book Value
As at 31 October 2023 2,463 - 1,337 3,800
As at 1 November 2022 2,626 - 1,262 3,888
6. Stocks
2023 2022
£ £
Stock 6,250 7,000
7. Debtors
2023 2022
£ £
Due within one year
Trade debtors 24,146 21,548
Prepayments and accrued income 718 1,769
Rent deposit 2,125 2,125
Other taxes and social security 802 506
27,791 25,948
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8. Creditors: Amounts Falling Due Within One Year
2023 2022
£ £
Trade creditors 1,681 4,560
Corporation tax 1,114 10,978
VAT 11,076 4,326
Net wages 1,134 -
NEST pensions 74 151
Accruals and deferred income 2,242 1,448
Director's loan account 370 719
17,691 22,182
9. Share Capital
2023 2022
£ £
Allotted, Called up and fully paid 25,000 25,000
10. Directors Advances, Credits and Guarantees
Dividends paid to directors
2023 2022
£ £
Mr Clint Beagle - 17,000
11. Related Party Transactions
The company provides consultancy services to Fortis Engineering Limited. One of the directors of CVB Technical Solutions Limited is also a director of this company. During the year, the company invoiced £6,605 (2022: £1,160) for these services, all of which had been paid by the year-end.
The company also purchases materials from Fortis Engineering Limited. During the year, the total
cost amounted to £11,427 (2022: £11,494), all of which had been paid by the year-end.
12. Ultimate Controlling Party
The company's ultimate controlling party is C V Beagle .
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