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Registration number: 02236737

Cunning Running Software Limited

Unaudited Filleted Financial Statements

for the Year Ended 31 May 2024

 

Cunning Running Software Limited

Contents

Company Information

1

Director's Report

2

Accountants' Report

3

Balance Sheet

4 to 5

Notes to the Unaudited Financial Statements

6 to 11

 

Cunning Running Software Limited

Company Information

Director

Mr Stephen John Mallon

Registered office

Bell House
32 Bell Street
Romsey
Hampshire
SO51 0GW

 

Cunning Running Software Limited

Director's Report for the Year Ended 31 May 2024

The director presents his report and the financial statements for the year ended 31 May 2024.

Director of the company

The director who held office during the year was as follows:

Mr Stephen John Mallon

Principal activity

The principal activity of the company is sale of computer software, training and consultancy

Small companies provision statement

This report has been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

Approved and authorised by the director on 12 August 2024
 

.........................................
Mr Stephen John Mallon
Director

 

Chartered Certified Accountants' Report to the Director on the Preparation of the Unaudited Statutory Accounts of
Cunning Running Software Limited
for the Year Ended 31 May 2024

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Cunning Running Software Limited for the year ended 31 May 2024 as set out on pages 4 to 11 from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at https://www.accaglobal.com/gb/en/member/standards/rules-and-standards/rulebook.html.

This report is made solely to the Board of Directors of Cunning Running Software Limited, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the accounts of Cunning Running Software Limited and state those matters that we have agreed to state to the Board of Directors of Cunning Running Software Limited, as a body, in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/gb/en/technical-activities/technical-resources-search/2009/
october/factsheet-163-audit-exempt-companies.html. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Cunning Running Software Limited and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that Cunning Running Software Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of Cunning Running Software Limited. You consider that Cunning Running Software Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the accounts of Cunning Running Software Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.

......................................

HowdenWhite LLP
Chartered Certified Accountants
Units 16-18
The Boscombe Centre
Amesbury
Wiltshire
SP4 7SD

12 August 2024

 

Cunning Running Software Limited

(Registration number: 02236737)
Balance Sheet as at 31 May 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

5

67,469

41,273

Current assets

 

Debtors

6

78,197

76,410

Cash at bank and in hand

 

808,679

1,017,211

 

886,876

1,093,621

Creditors: Amounts falling due within one year

7

(550,811)

(812,366)

Net current assets

 

336,065

281,255

Total assets less current liabilities

 

403,534

322,528

Provisions for liabilities

(16,314)

(14,208)

Net assets

 

387,220

308,320

Capital and reserves

 

Called up share capital

8

425

425

Retained earnings

386,795

307,895

Shareholders' funds

 

387,220

308,320

For the financial year ending 31 May 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 12 August 2024
 

 

Cunning Running Software Limited

(Registration number: 02236737)
Balance Sheet as at 31 May 2024

.........................................
Mr Stephen John Mallon
Director

 

Cunning Running Software Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 May 2024

1

General information

The company is a private company limited by share capital, incorporated in England & Wales.

The address of its registered office is:
Bell House
32 Bell Street
Romsey
Hampshire
SO51 0GW

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Foreign currency transactions and balances

Transactions in foreign currencies are initially recorded at the functional currency rate prevailing at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated into the respective functional currency of the entity at the rates prevailing on the reporting period date. Non-monetary items carried at fair value that are denominated in foreign currencies are retranslated at the rate on the date when the fair value is re-measured.

Non-monetary items measured in terms of historical cost in a foreign currency are not retranslated.

 

Cunning Running Software Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 May 2024

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Office equipment

15% reducing balance basis

Computer equipment

25% reducing balance basis

Leasehold property

10% straight line basis

Fixtures & Fittings

15% reducing balance basis

Plant & Machinery

20% reducing balance basis

Equipment for hire

25% straight line basis

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Asset class

Amortisation method and rate

Goodwill

5 Years straight line basis

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

 

Cunning Running Software Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 May 2024

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 10 (2023 - 11).

 

Cunning Running Software Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 May 2024

4

Intangible assets

Other intangible assets
 £

Total
£

Cost or valuation

At 1 June 2023

7,510

7,510

At 31 May 2024

7,510

7,510

Amortisation

At 1 June 2023

7,510

7,510

At 31 May 2024

7,510

7,510

Carrying amount

At 31 May 2024

-

-

5

Tangible assets

Land and buildings
£

Furniture, fittings and equipment
 £

Total
£

Cost or valuation

At 1 June 2023

110,119

164,568

274,687

Additions

-

51,431

51,431

At 31 May 2024

110,119

215,999

326,118

Depreciation

At 1 June 2023

110,119

123,295

233,414

Charge for the year

-

25,235

25,235

At 31 May 2024

110,119

148,530

258,649

Carrying amount

At 31 May 2024

-

67,469

67,469

At 31 May 2023

-

41,273

41,273

 

Cunning Running Software Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 May 2024

6

Debtors

Current

2024
£

2023
£

Trade debtors

18,812

4,800

Prepayments

50,186

51,381

Other debtors

9,199

20,229

 

78,197

76,410

7

Creditors

Creditors: amounts falling due within one year

2024
£

2023
£

Due within one year

Trade creditors

79,958

29,927

Taxation and social security

99,657

151,764

Accruals and deferred income

364,028

623,267

Other creditors

7,168

7,408

550,811

812,366

8

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary A £0.25 of £0.25 each

400

100

400

100

Ordinary B £0.25 of £0.25 each

1,300

325

1,300

325

1,700

425

1,700

425

9

Financial commitments, guarantees and contingencies

Amounts not provided for in the balance sheet

The total amount of financial commitments not included in the balance sheet is £91,164 (2023 - £123,564).

 

11 Controlling Party
 

 

Cunning Running Software Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 May 2024

Cunning Running Software Employee Ownership Trust is the owner of 100% of Cunning Running Software Limited issued share capital and is the controlling party as at 31st May 2023.

12 Employee Ownership Trust

On the 30th June 2022 the Cunning Running Software Employee Ownership Trust (the EOT) purchased 400 Ordinary A shares of £0.25p each and 1300 Ordinary B shares of £0.25 each being 100% of the share capital. During the year to 31st May 2024 £152,233 was contributed from the company and treated as a deduction within equity. Cunning Running Software Trustee Limited, a company limited by guarantee, is the corporate trustee of the EOT.