Acorah Software Products - Accounts Production 15.0.600 false true true 30 November 2022 1 December 2021 false 1 December 2022 31 March 2024 31 March 2024 09295491 Mr Corbin Peniket iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 09295491 2022-11-30 09295491 2024-03-31 09295491 2022-12-01 2024-03-31 09295491 frs-core:CurrentFinancialInstruments 2024-03-31 09295491 frs-core:Non-currentFinancialInstruments 2024-03-31 09295491 frs-core:BetweenOneFiveYears 2024-03-31 09295491 frs-core:ComputerEquipment 2024-03-31 09295491 frs-core:ComputerEquipment 2022-12-01 2024-03-31 09295491 frs-core:ComputerEquipment 2022-11-30 09295491 frs-core:FurnitureFittings 2024-03-31 09295491 frs-core:FurnitureFittings 2022-12-01 2024-03-31 09295491 frs-core:FurnitureFittings 2022-11-30 09295491 frs-core:MotorVehicles 2024-03-31 09295491 frs-core:MotorVehicles 2022-12-01 2024-03-31 09295491 frs-core:MotorVehicles 2022-11-30 09295491 frs-core:WithinOneYear 2024-03-31 09295491 frs-core:ShareCapital 2024-03-31 09295491 frs-core:RetainedEarningsAccumulatedLosses 2024-03-31 09295491 frs-bus:PrivateLimitedCompanyLtd 2022-12-01 2024-03-31 09295491 frs-bus:FilletedAccounts 2022-12-01 2024-03-31 09295491 frs-bus:SmallEntities 2022-12-01 2024-03-31 09295491 frs-bus:AuditExempt-NoAccountantsReport 2022-12-01 2024-03-31 09295491 frs-bus:SmallCompaniesRegimeForAccounts 2022-12-01 2024-03-31 09295491 frs-bus:Director1 2022-12-01 2024-03-31 09295491 frs-countries:EnglandWales 2022-12-01 2024-03-31 09295491 2021-11-30 09295491 2022-11-30 09295491 2021-12-01 2022-11-30 09295491 frs-core:CurrentFinancialInstruments 2022-11-30 09295491 frs-core:Non-currentFinancialInstruments 2022-11-30 09295491 frs-core:BetweenOneFiveYears 2022-11-30 09295491 frs-core:WithinOneYear 2022-11-30 09295491 frs-core:ShareCapital 2022-11-30 09295491 frs-core:RetainedEarningsAccumulatedLosses 2022-11-30
Registered number: 09295491
Corb Limited
Unaudited Financial Statements
For the Period 1 December 2022 to 31 March 2024
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—6
Page 1
Balance Sheet
Registered number: 09295491
31 March 2024 30 November 2022
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 514,432 416,479
514,432 416,479
CURRENT ASSETS
Stocks 5 405,000 660,556
Debtors 6 2,190,164 1,062,932
Cash at bank and in hand 487,623 121,188
3,082,787 1,844,676
Creditors: Amounts Falling Due Within One Year 7 (2,048,285 ) (998,810 )
NET CURRENT ASSETS (LIABILITIES) 1,034,502 845,866
TOTAL ASSETS LESS CURRENT LIABILITIES 1,548,934 1,262,345
Creditors: Amounts Falling Due After More Than One Year 8 (692,354 ) (622,938 )
PROVISIONS FOR LIABILITIES
Deferred Taxation (81,150 ) (68,195 )
NET ASSETS 775,430 571,212
CAPITAL AND RESERVES
Called up share capital 10 100 100
Profit and Loss Account 775,330 571,112
SHAREHOLDERS' FUNDS 775,430 571,212
Page 1
Page 2
For the period 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 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 Corbin Peniket
Director
30 August 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
Corb Limited is a private company, limited by shares, incorporated in England & Wales, registered number 09295491 . The registered office is 9 Pearson Road, Central Park, Telford, TF2 9TX.

The financial statements are presented in pound sterling (£) and rounded to the nearest whole £.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements are prepared under the historical cost convention and in accordance with the FRS 102 Section 1A Small Entities - The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.
2.2. Going Concern Disclosure
The directors have not identified any material uncertainties related to events or conditions that may cast significant doubt about the company's ability to continue as a going concern.
2.3. 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.
2.4. 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:
Motor Vehicles 20% reducing balance
Fixtures & Fittings 20% reducing balance
Computer Equipment 20% reducing balance
2.5. Leasing and Hire Purchase Contracts
Assets obtained under hire purchase contracts and finance leases are capitalised as tangible fixed assets. Assets acquired under finance leases are depreciated over the shorter of the lease term and their useful lives. Assets acquired under hire purchase contracts are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in the creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to profit and loss account as incurred.
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 year 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 asset reflects 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.
2.8. Pensions
The company operates a defined pension contribution scheme. Contributions are charged to the profit and loss account as they become payable in accordance with the rules of the scheme.
3. Average Number of Employees
Average number of employees, including directors, during the period was: 51 (2022: 39)
51 39
4. Tangible Assets
Motor Vehicles Fixtures & Fittings Computer Equipment Total
£ £ £ £
Cost
As at 1 December 2022 517,258 123,216 17,103 657,577
Additions 359,236 1,112 - 360,348
Disposals (235,181 ) - - (235,181 )
As at 31 March 2024 641,313 124,328 17,103 782,744
Depreciation
As at 1 December 2022 172,336 60,321 8,441 241,098
Provided during the period 140,099 16,972 2,310 159,381
Disposals (132,167 ) - - (132,167 )
As at 31 March 2024 180,268 77,293 10,751 268,312
Net Book Value
As at 31 March 2024 461,045 47,035 6,352 514,432
As at 1 December 2022 344,922 62,895 8,662 416,479
Page 4
Page 5
5. Stocks
31 March 2024 30 November 2022
£ £
Materials 8,000 8,000
Work in progress 397,000 652,556
405,000 660,556
6. Debtors
31 March 2024 30 November 2022
£ £
Due within one year
Trade debtors 2,023,319 923,423
Prepayments and accrued income 106,249 86,825
Other debtors 60,596 52,684
2,190,164 1,062,932
7. Creditors: Amounts Falling Due Within One Year
31 March 2024 30 November 2022
£ £
Net obligations under finance lease and hire purchase contracts 123,355 96,237
Trade creditors 828,836 319,306
Bank loans and overdrafts 149,325 138,528
Other taxes and social security 23,897 54,627
VAT 165,511 233,839
Net wages 1,717 68
Other creditors 190,526 145,473
Accruals and deferred income 135,886 3,852
Director's loan account 1,852 6,880
Amounts owed to related parties 427,380 -
2,048,285 998,810
8. Creditors: Amounts Falling Due After More Than One Year
31 March 2024 30 November 2022
£ £
Net obligations under finance lease and hire purchase contracts 358,463 280,175
Bank loans 333,891 342,763
692,354 622,938
Hire purchase liabilities are secured against the assets to which they relate.
Bank loans are secured by way of a fixed and floating charge over the company assets.
Page 5
Page 6
9. Obligations Under Finance Leases and Hire Purchase
31 March 2024 30 November 2022
£ £
The future minimum finance lease payments are as follows:
Not later than one year 123,355 96,237
Later than one year and not later than five years 358,463 280,175
481,818 376,412
481,818 376,412
10. Share Capital
31 March 2024 30 November 2022
£ £
Allotted, Called up and fully paid 100 100
11. Pension Commitments
The company operates a defined contribution pension scheme for its employees. The assets of the scheme are held separately from those of the company in an independently administered fund. Included within Other Creditors at the balance sheet date are unpaid contributions of £7,706 (2022: £10,626) due to the fund.
12. Related Party Transactions
Included within amounts owed to related parties is a balance of £427,380 (2022: £180 included within other debtors) owed to a company under common control. No interest has been charged on this amount and there were no conditions attached.
Included within other debtors is a balance of £60,596 (2022: £52,534) owed by a company under common control. No interest has been charged on this amount and there were no conditions attached.
Page 6