Acorah Software Products - Accounts Production 15.0.600 false true 31 March 2023 1 April 2022 false 1 April 2023 31 March 2024 31 March 2024 05115978 Mr Jack Wood iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 05115978 2023-03-31 05115978 2024-03-31 05115978 2023-04-01 2024-03-31 05115978 frs-core:CurrentFinancialInstruments 2024-03-31 05115978 frs-core:ComputerEquipment 2024-03-31 05115978 frs-core:ComputerEquipment 2023-04-01 2024-03-31 05115978 frs-core:ComputerEquipment 2023-03-31 05115978 frs-core:DevelopmentCostsCapitalisedDevelopmentExpenditure 2023-04-01 2024-03-31 05115978 frs-core:FurnitureFittings 2024-03-31 05115978 frs-core:FurnitureFittings 2023-04-01 2024-03-31 05115978 frs-core:FurnitureFittings 2023-03-31 05115978 frs-core:NetGoodwill 2024-03-31 05115978 frs-core:NetGoodwill 2023-04-01 2024-03-31 05115978 frs-core:NetGoodwill 2023-03-31 05115978 frs-core:LandBuildings frs-core:LeasedAssetsHeldAsLessee 2024-03-31 05115978 frs-core:LandBuildings frs-core:LeasedAssetsHeldAsLessee 2023-04-01 2024-03-31 05115978 frs-core:LandBuildings frs-core:LeasedAssetsHeldAsLessee 2023-03-31 05115978 frs-core:MotorVehicles 2024-03-31 05115978 frs-core:MotorVehicles 2023-04-01 2024-03-31 05115978 frs-core:MotorVehicles 2023-03-31 05115978 frs-core:OtherResidualIntangibleAssets 2024-03-31 05115978 frs-core:OtherResidualIntangibleAssets 2023-04-01 2024-03-31 05115978 frs-core:OtherResidualIntangibleAssets 2023-03-31 05115978 frs-core:PlantMachinery 2024-03-31 05115978 frs-core:PlantMachinery 2023-04-01 2024-03-31 05115978 frs-core:PlantMachinery 2023-03-31 05115978 frs-core:ShareCapital 2024-03-31 05115978 frs-core:RetainedEarningsAccumulatedLosses 2024-03-31 05115978 frs-bus:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 05115978 frs-bus:FilletedAccounts 2023-04-01 2024-03-31 05115978 frs-bus:SmallEntities 2023-04-01 2024-03-31 05115978 frs-bus:AuditExempt-NoAccountantsReport 2023-04-01 2024-03-31 05115978 frs-bus:SmallCompaniesRegimeForAccounts 2023-04-01 2024-03-31 05115978 frs-bus:Director1 2023-04-01 2024-03-31 05115978 frs-core:CurrentFinancialInstruments 1 2024-03-31 05115978 frs-core:CurrentFinancialInstruments 3 2024-03-31 05115978 frs-core:CurrentFinancialInstruments 5 2024-03-31 05115978 frs-countries:EnglandWales 2023-04-01 2024-03-31 05115978 2022-03-31 05115978 2023-03-31 05115978 2022-04-01 2023-03-31 05115978 frs-core:CurrentFinancialInstruments 2023-03-31 05115978 frs-core:ShareCapital 2023-03-31 05115978 frs-core:RetainedEarningsAccumulatedLosses 2023-03-31 05115978 frs-core:CurrentFinancialInstruments 1 2023-03-31 05115978 frs-core:CurrentFinancialInstruments 3 2023-03-31 05115978 frs-core:CurrentFinancialInstruments 5 2023-03-31
Registered number: 05115978
C R Wood Electrical Limited
Unaudited Financial Statements
For The Year Ended 31 March 2024
Dawes Accountants Limited
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—6
Page 1
Balance Sheet
Registered number: 05115978
2024 2023
Notes £ £ £ £
FIXED ASSETS
Intangible Assets 4 3,192 3,591
Tangible Assets 5 374,046 193,343
377,238 196,934
CURRENT ASSETS
Stocks 6 93,633 40,099
Debtors 7 311,187 364,582
Cash at bank and in hand 98,109 341,189
502,929 745,870
Creditors: Amounts Falling Due Within One Year 8 (112,841 ) (91,588 )
NET CURRENT ASSETS (LIABILITIES) 390,088 654,282
TOTAL ASSETS LESS CURRENT LIABILITIES 767,326 851,216
PROVISIONS FOR LIABILITIES
Provisions For Charges (339 ) -
Deferred Taxation (66,344 ) (44,375 )
NET ASSETS 700,643 806,841
CAPITAL AND RESERVES
Called up share capital 9 100 100
Profit and Loss Account 700,543 806,741
SHAREHOLDERS' FUNDS 700,643 806,841
Page 1
Page 2
For the year ending 31 March 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 Jack Wood
Director
20/08/2024
The notes on pages 3 to 6 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
C R Wood Electrical Limited is a private company, limited by shares, incorporated in England & Wales, registered number 05115978 . The registered office is 2 Biltor Road, Ipplepen, Newton Abbot, Devon, TQ12 5QL.
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 10 years.
2.4. Intangible Fixed Assets and Amortisation - Other Intangible
Other intangible assets are website costs. It is amortised to profit and loss account over its estimated economic life of 10 years.
2.5. 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:
Leasehold 10% Straight Line
Plant & Machinery 25% Reducing Balance
Motor Vehicles 25% Reducing Balance
Fixtures & Fittings 25% Reducing Balance
Computer Equipment 25% Reducing Balance
2.6. 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.
Page 3
Page 4
2.7. 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: 12 (2023: 13)
12 13
4. Intangible Assets
Goodwill Other Total
£ £ £
Cost
As at 1 April 2023 100,000 3,990 103,990
As at 31 March 2024 100,000 3,990 103,990
Amortisation
As at 1 April 2023 100,000 399 100,399
Provided during the period - 399 399
As at 31 March 2024 100,000 798 100,798
Net Book Value
As at 31 March 2024 - 3,192 3,192
As at 1 April 2023 - 3,591 3,591
5. Tangible Assets
Land & Property
Leasehold Plant & Machinery Motor Vehicles Fixtures & Fittings
£ £ £ £
Cost
As at 1 April 2023 - 253,340 138,134 6,129
Additions 32,008 207,389 23,950 2,737
Disposals - - (25,389 ) -
As at 31 March 2024 32,008 460,729 136,695 8,866
Depreciation
As at 1 April 2023 - 138,978 65,712 3,041
...CONTINUED
Page 4
Page 5
Provided during the period 2,155 48,250 15,841 1,179
Disposals - - (6,347 ) -
As at 31 March 2024 2,155 187,228 75,206 4,220
Net Book Value
As at 31 March 2024 29,853 273,501 61,489 4,646
As at 1 April 2023 - 114,362 72,422 3,088
Computer Equipment Total
£ £
Cost
As at 1 April 2023 4,585 402,188
Additions 2,175 268,259
Disposals - (25,389 )
As at 31 March 2024 6,760 645,058
Depreciation
As at 1 April 2023 1,114 208,845
Provided during the period 1,089 68,514
Disposals - (6,347 )
As at 31 March 2024 2,203 271,012
Net Book Value
As at 31 March 2024 4,557 374,046
As at 1 April 2023 3,471 193,343
6. Stocks
2024 2023
£ £
Materials 93,633 40,099
7. Debtors
2024 2023
£ £
Due within one year
Trade debtors 168,859 169,252
Prepayments and accrued income 5,230 4,887
Other debtors 137,000 115,000
Credit notes received in advance 68 34,858
Net wages 30 -
Directors' loan accounts - 40,585
311,187 364,582
Page 5
Page 6
8. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 60,237 12,887
Corporation tax 14,740 30,976
Other taxes and social security 2,913 2,805
VAT 16,694 35,527
Capital on tap 2,679 607
Pension Liability 2,705 1,222
Income in advance 12,228 6,462
Accruals and deferred income 645 1,102
112,841 91,588
9. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 100 100
10. Related Party Transactions
Dividends have been paid to the holding company - J P Wood Holdings Limited of £251,033 in the year. 
Page 6