Acorah Software Products - Accounts Production 15.0.500 false true 31 December 2022 1 January 2022 false 1 January 2023 31 December 2023 31 December 2023 09671532 Mr M N Gribben Mr N S Gribben iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 09671532 2022-12-31 09671532 2023-12-31 09671532 2023-01-01 2023-12-31 09671532 frs-core:CurrentFinancialInstruments 2023-12-31 09671532 frs-core:Non-currentFinancialInstruments 2023-12-31 09671532 frs-core:ComputerEquipment 2023-12-31 09671532 frs-core:ComputerEquipment 2023-01-01 2023-12-31 09671532 frs-core:ComputerEquipment 2022-12-31 09671532 frs-core:NetGoodwill 2023-12-31 09671532 frs-core:NetGoodwill 2023-01-01 2023-12-31 09671532 frs-core:NetGoodwill 2022-12-31 09671532 frs-core:MotorVehicles 2023-12-31 09671532 frs-core:MotorVehicles 2023-01-01 2023-12-31 09671532 frs-core:MotorVehicles 2022-12-31 09671532 frs-core:PlantMachinery 2023-12-31 09671532 frs-core:PlantMachinery 2023-01-01 2023-12-31 09671532 frs-core:PlantMachinery 2022-12-31 09671532 frs-core:RevaluationReserve 2022-12-31 09671532 frs-core:RevaluationReserve 2023-12-31 09671532 frs-core:ShareCapital 2023-12-31 09671532 frs-core:RetainedEarningsAccumulatedLosses 2023-12-31 09671532 frs-bus:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 09671532 frs-bus:FilletedAccounts 2023-01-01 2023-12-31 09671532 frs-bus:SmallEntities 2023-01-01 2023-12-31 09671532 frs-bus:AuditExempt-NoAccountantsReport 2023-01-01 2023-12-31 09671532 frs-bus:SmallCompaniesRegimeForAccounts 2023-01-01 2023-12-31 09671532 frs-bus:Director1 2023-01-01 2023-12-31 09671532 frs-bus:Director2 2023-01-01 2023-12-31 09671532 frs-core:CurrentFinancialInstruments 1 2023-12-31 09671532 frs-countries:EnglandWales 2023-01-01 2023-12-31 09671532 2021-12-31 09671532 2022-12-31 09671532 2022-01-01 2022-12-31 09671532 frs-core:CurrentFinancialInstruments 2022-12-31 09671532 frs-core:Non-currentFinancialInstruments 2022-12-31 09671532 frs-core:RevaluationReserve 2022-12-31 09671532 frs-core:ShareCapital 2022-12-31 09671532 frs-core:RetainedEarningsAccumulatedLosses 2022-12-31 09671532 frs-core:CurrentFinancialInstruments 1 2022-12-31 09671532 frs-core:CurrentFinancialInstruments 2 2022-12-31
Registered number: 09671532
East Midland Cryogenics Limited
Financial Statements
For The Year Ended 31 December 2023
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 09671532
2023 2022
Notes £ £ £ £
FIXED ASSETS
Intangible Assets 4 6,000 8,000
Tangible Assets 5 13,741 15,912
19,741 23,912
CURRENT ASSETS
Debtors 6 65,340 81,160
Cash at bank and in hand 130,016 136,465
195,356 217,625
Creditors: Amounts Falling Due Within One Year 7 (89,147 ) (132,580 )
NET CURRENT ASSETS (LIABILITIES) 106,209 85,045
TOTAL ASSETS LESS CURRENT LIABILITIES 125,950 108,957
Creditors: Amounts Falling Due After More Than One Year 8 (18,620 ) (28,402 )
PROVISIONS FOR LIABILITIES
Deferred Taxation (2,611 ) (3,023 )
NET ASSETS 104,719 77,532
CAPITAL AND RESERVES
Called up share capital 9 100 100
Revaluation reserve 10 3,797 3,797
Profit and Loss Account 100,822 73,635
SHAREHOLDERS' FUNDS 104,719 77,532
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For the year ending 31 December 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 M N Gribben
Director
2 May 2024
The notes on pages 3 to 5 form part of these financial statements.
Page 2
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Notes to the Financial Statements
1. General Information
East Midland Cryogenics Limited is a private company, limited by shares, incorporated in England & Wales, registered number 09671532 . The registered office is 51 Longmoor Lane, Breaston, Derby, DE72 3BB.
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. Intangible Fixed Assets and Amortisation - Goodwill
Goodwill is the difference between amounts paid on the acquisition of a business and the fair value of the separable net assets. It is amortised to profit and loss account over its estimated economic life of .... years.
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% reducing balance
Motor Vehicles 25% reducing balance
Computer Equipment 25% reducing balance
2.5. 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. 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. The carrying amount of deferred tax assets is reviewed at the end of each reporting period.
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.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 3 (2022: 2)
3 2
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4. Intangible Assets
Goodwill
£
Cost
As at 1 January 2023 20,000
As at 31 December 2023 20,000
Amortisation
As at 1 January 2023 12,000
Provided during the period 2,000
As at 31 December 2023 14,000
Net Book Value
As at 31 December 2023 6,000
As at 1 January 2023 8,000
5. Tangible Assets
Plant & Machinery Motor Vehicles Computer Equipment Total
£ £ £ £
Cost
As at 1 January 2023 10,725 25,065 1,780 37,570
Additions 2,539 - - 2,539
Disposals (158 ) - - (158 )
As at 31 December 2023 13,106 25,065 1,780 39,951
Depreciation
As at 1 January 2023 6,813 13,261 1,584 21,658
Provided during the period 1,606 2,951 124 4,681
Disposals (129 ) - - (129 )
As at 31 December 2023 8,290 16,212 1,708 26,210
Net Book Value
As at 31 December 2023 4,816 8,853 72 13,741
As at 1 January 2023 3,912 11,804 196 15,912
6. Debtors
2023 2022
£ £
Due within one year
Trade debtors 65,340 81,160
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7. Creditors: Amounts Falling Due Within One Year
2023 2022
£ £
Bank loans and overdrafts 9,624 9,624
Corporation tax 22,085 16,304
Other taxes and social security 415 59,634
VAT 10,043 -
Credit card 1,204 1,692
Pension control - 122
Accruals and deferred income 850 850
Directors' loan accounts 44,926 44,354
89,147 132,580
8. Creditors: Amounts Falling Due After More Than One Year
2023 2022
£ £
Bank loans 18,620 28,402
9. Share Capital
2023 2022
£ £
Allotted, Called up and fully paid 100 100
10. Reserves
Revaluation Reserve
£
As at 1 January 2023 3,797
As at 31 December 2023 3,797
11. Related Party Transactions
At the balance sheet date, the company owed the Directors £47,782 (2020: £47,210). The amount is unsecured, interest-free, with no fixed repayment date
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