Acorah Software Products - Accounts Production 15.0.500 false true 31 January 2023 1 February 2022 false 1 February 2023 31 January 2024 31 January 2024 10601845 Mr Ben Ashton Mr Matthew Tucker iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 10601845 2023-01-31 10601845 2024-01-31 10601845 2023-02-01 2024-01-31 10601845 frs-core:CurrentFinancialInstruments 2024-01-31 10601845 frs-core:Non-currentFinancialInstruments 2024-01-31 10601845 frs-core:MotorVehicles 2024-01-31 10601845 frs-core:MotorVehicles 2023-02-01 2024-01-31 10601845 frs-core:MotorVehicles 2023-01-31 10601845 frs-core:PlantMachinery 2024-01-31 10601845 frs-core:PlantMachinery 2023-02-01 2024-01-31 10601845 frs-core:PlantMachinery 2023-01-31 10601845 frs-core:ShareCapital 2024-01-31 10601845 frs-core:RetainedEarningsAccumulatedLosses 2024-01-31 10601845 frs-bus:PrivateLimitedCompanyLtd 2023-02-01 2024-01-31 10601845 frs-bus:FilletedAccounts 2023-02-01 2024-01-31 10601845 frs-bus:SmallEntities 2023-02-01 2024-01-31 10601845 frs-bus:AuditExempt-NoAccountantsReport 2023-02-01 2024-01-31 10601845 frs-bus:SmallCompaniesRegimeForAccounts 2023-02-01 2024-01-31 10601845 frs-bus:Director1 2023-02-01 2024-01-31 10601845 frs-bus:Director1 2023-01-31 10601845 frs-bus:Director1 2024-01-31 10601845 frs-bus:Director2 2023-02-01 2024-01-31 10601845 frs-bus:Director2 2023-01-31 10601845 frs-bus:Director2 2024-01-31 10601845 frs-countries:EnglandWales 2023-02-01 2024-01-31 10601845 2022-01-31 10601845 2023-01-31 10601845 2022-02-01 2023-01-31 10601845 frs-core:CurrentFinancialInstruments 2023-01-31 10601845 frs-core:Non-currentFinancialInstruments 2023-01-31 10601845 frs-core:ShareCapital 2023-01-31 10601845 frs-core:RetainedEarningsAccumulatedLosses 2023-01-31
Registered number: 10601845
Countrywide Electrical Testing Ltd
Unaudited Financial Statements
For The Year Ended 31 January 2024
Mayers
33 Mary Seacole Road
The Millfields
Plymouth
PL1 3JY
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 10601845
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 17,308 15,580
17,308 15,580
CURRENT ASSETS
Stocks 5 6,050 3,010
Debtors 6 30,232 62,266
Cash at bank and in hand 81,757 100,556
118,039 165,832
Creditors: Amounts Falling Due Within One Year 7 (123,264 ) (157,115 )
NET CURRENT ASSETS (LIABILITIES) (5,225 ) 8,717
TOTAL ASSETS LESS CURRENT LIABILITIES 12,083 24,297
Creditors: Amounts Falling Due After More Than One Year 8 (8,700 ) (12,300 )
PROVISIONS FOR LIABILITIES
Deferred Taxation (3,289 ) (2,960 )
NET ASSETS 94 9,037
CAPITAL AND RESERVES
Called up share capital 9 20 20
Profit and Loss Account 74 9,017
SHAREHOLDERS' FUNDS 94 9,037
Page 1
Page 2
For the year ending 31 January 2024 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 Matthew Tucker
Director
12 July 2024
The notes on pages 3 to 5 form part of these financial statements.
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Notes to the Financial Statements
1. General Information
Countrywide Electrical Testing Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 10601845 . The registered office is 33 Mary Seacole Road, The Millfields, Plymouth, Devon, PL1 3JY.
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:
Plant & Machinery 25% reducing balance
Motor Vehicles 25% reducing balance
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. 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.
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3. Average Number of Employees
Average number of employees, including directors, during the year was: 6 (2023: 3)
6 3
4. Tangible Assets
Plant & Machinery Motor Vehicles Total
£ £ £
Cost
As at 1 February 2023 5,873 24,750 30,623
Additions - 7,500 7,500
As at 31 January 2024 5,873 32,250 38,123
Depreciation
As at 1 February 2023 3,311 11,732 15,043
Provided during the period 642 5,130 5,772
As at 31 January 2024 3,953 16,862 20,815
Net Book Value
As at 31 January 2024 1,920 15,388 17,308
As at 1 February 2023 2,562 13,018 15,580
5. Stocks
2024 2023
£ £
Stock 6,050 3,010
6. Debtors
2024 2023
£ £
Due within one year
Trade debtors 30,232 46,886
Other debtors - 15,380
30,232 62,266
7. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 13,930 13,858
Corporation tax 12,341 34,212
Other taxes and social security 2,355 490
VAT 4,681 1,304
Net wages 76 -
Other creditors 10,842 -
Accrued expenses 985 940
Directors' loan accounts 78,054 106,311
123,264 157,115
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8. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Bank loans 8,700 12,300
9. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 20 20
10. Directors Advances, Credits and Guarantees
Included within creditors are the following loans from the directors:
As at 1 February 2023 Amounts advanced Amounts repaid Amounts written off As at 31 January 2024
£ £ £ £ £
Mr Ben Ashton (55,389 ) 13,906 - - (41,483 )
Mr Matthew Tucker (50,922 ) 14,351 - - (36,571 )
The above loan is unsecured, interest free and repayable on demand.
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