Acorah Software Products - Accounts Production 15.0.600 false true 31 December 2022 1 January 2022 false 1 January 2023 31 December 2023 31 December 2023 09183047 Mr James Lewis Mr Nathan Lewis Mr Stephen Lewis Mrs Rachel Pooley iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 09183047 2022-12-31 09183047 2023-12-31 09183047 2023-01-01 2023-12-31 09183047 frs-core:CurrentFinancialInstruments 2023-12-31 09183047 frs-core:ComputerEquipment 2023-12-31 09183047 frs-core:ComputerEquipment 2023-01-01 2023-12-31 09183047 frs-core:ComputerEquipment 2022-12-31 09183047 frs-core:CopyrightsPatentsTrademarksServiceOperatingRights 2023-12-31 09183047 frs-core:CopyrightsPatentsTrademarksServiceOperatingRights 2023-01-01 2023-12-31 09183047 frs-core:CopyrightsPatentsTrademarksServiceOperatingRights 2022-12-31 09183047 frs-core:FurnitureFittings 2023-12-31 09183047 frs-core:FurnitureFittings 2023-01-01 2023-12-31 09183047 frs-core:FurnitureFittings 2022-12-31 09183047 frs-core:NetGoodwill 2023-12-31 09183047 frs-core:NetGoodwill 2023-01-01 2023-12-31 09183047 frs-core:NetGoodwill 2022-12-31 09183047 frs-core:LandBuildings frs-core:LeasedAssetsHeldAsLessee 2023-12-31 09183047 frs-core:LandBuildings frs-core:LeasedAssetsHeldAsLessee 2023-01-01 2023-12-31 09183047 frs-core:LandBuildings frs-core:LeasedAssetsHeldAsLessee 2022-12-31 09183047 frs-core:MotorVehicles 2023-12-31 09183047 frs-core:MotorVehicles 2023-01-01 2023-12-31 09183047 frs-core:MotorVehicles 2022-12-31 09183047 frs-core:PlantMachinery 2023-12-31 09183047 frs-core:PlantMachinery 2023-01-01 2023-12-31 09183047 frs-core:PlantMachinery 2022-12-31 09183047 frs-core:ShareCapital 2023-12-31 09183047 frs-core:RetainedEarningsAccumulatedLosses 2023-12-31 09183047 frs-bus:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 09183047 frs-bus:FilletedAccounts 2023-01-01 2023-12-31 09183047 frs-bus:SmallEntities 2023-01-01 2023-12-31 09183047 frs-bus:AuditExempt-NoAccountantsReport 2023-01-01 2023-12-31 09183047 frs-bus:SmallCompaniesRegimeForAccounts 2023-01-01 2023-12-31 09183047 frs-bus:Director1 2023-01-01 2023-12-31 09183047 frs-bus:Director2 2023-01-01 2023-12-31 09183047 frs-bus:Director3 2023-01-01 2023-12-31 09183047 frs-bus:Director3 2022-12-31 09183047 frs-bus:Director3 2023-12-31 09183047 frs-bus:CompanySecretary1 2023-01-01 2023-12-31 09183047 frs-countries:EnglandWales 2023-01-01 2023-12-31 09183047 2021-12-31 09183047 2022-12-31 09183047 2022-01-01 2022-12-31 09183047 frs-core:CurrentFinancialInstruments 2022-12-31 09183047 frs-core:ShareCapital 2022-12-31 09183047 frs-core:RetainedEarningsAccumulatedLosses 2022-12-31
Registered number: 09183047
Contego Safety Solutions Ltd
Unaudited Financial Statements
For The Year Ended 31 December 2023
Montacs
Unaudited Financial Statements
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—6
Page 1
Balance Sheet
Registered number: 09183047
2023 2022
Notes £ £ £ £
FIXED ASSETS
Intangible Assets 4 49,425 99,429
Tangible Assets 5 319,039 265,616
368,464 365,045
CURRENT ASSETS
Stocks 6 1,317,989 1,373,988
Debtors 7 1,533,572 1,734,973
Cash at bank and in hand 1,345,881 1,041,938
4,197,442 4,150,899
Creditors: Amounts Falling Due Within One Year 8 (1,368,723 ) (1,610,003 )
NET CURRENT ASSETS (LIABILITIES) 2,828,719 2,540,896
TOTAL ASSETS LESS CURRENT LIABILITIES 3,197,183 2,905,941
PROVISIONS FOR LIABILITIES
Deferred Taxation (79,759 ) (66,404 )
NET ASSETS 3,117,424 2,839,537
CAPITAL AND RESERVES
Called up share capital 9 1,000 1,000
Profit and Loss Account 3,116,424 2,838,537
SHAREHOLDERS' FUNDS 3,117,424 2,839,537
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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 James Lewis
Director
30/08/2024
The notes on pages 3 to 6 form part of these financial statements.
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Notes to the Financial Statements
1. General Information
Contego Safety Solutions Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 09183047 . The registered office is Wearmaster House, Malthouse Lane, Hurstpierpoint, Hassocks, BN6 9LA.
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. Intangible Fixed Assets and Amortisation - Intellectual Property
Intellectual property assets are rights in respect of the logo, branding and trademark. It is amortised to the profit and loss account over its estimated economic life of 4 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 25% Reducing Balance
Plant & Machinery 25% Reducing Balance
Motor Vehicles 25% Reducing Balance
Fixtures & Fittings 15% Reducing Balance
Computer Equipment 33% 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.
2.7. Foreign Currencies
Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate ruling on the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
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2.8. 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: 43 (2022: 49)
43 49
4. Intangible Assets
Goodwill Intellectual Property Total
£ £ £
Cost
As at 1 January 2023 44,000 199,429 243,429
As at 31 December 2023 44,000 199,429 243,429
Amortisation
As at 1 January 2023 44,000 100,000 144,000
Provided during the period - 50,004 50,004
As at 31 December 2023 44,000 150,004 194,004
Net Book Value
As at 31 December 2023 - 49,425 49,425
As at 1 January 2023 - 99,429 99,429
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5. Tangible Assets
Land & Property
Leasehold Plant & Machinery Motor Vehicles Fixtures & Fittings
£ £ £ £
Cost
As at 1 January 2023 30,957 199,910 109,960 149,586
Additions 3,382 60,457 115,621 2,436
Disposals - (43,214 ) (15,240 ) (3,143 )
As at 31 December 2023 34,339 217,153 210,341 148,879
Depreciation
As at 1 January 2023 23,258 52,443 36,806 130,113
Provided during the period 2,633 41,921 41,491 3,708
Disposals - (15,148 ) (7,501 ) (3,109 )
As at 31 December 2023 25,891 79,216 70,796 130,712
Net Book Value
As at 31 December 2023 8,448 137,937 139,545 18,167
As at 1 January 2023 7,699 147,467 73,154 19,473
Computer Equipment Total
£ £
Cost
As at 1 January 2023 55,763 546,176
Additions 4,895 186,791
Disposals (11,152 ) (72,749 )
As at 31 December 2023 49,506 660,218
Depreciation
As at 1 January 2023 37,940 280,560
Provided during the period 7,270 97,023
Disposals (10,646 ) (36,404 )
As at 31 December 2023 34,564 341,179
Net Book Value
As at 31 December 2023 14,942 319,039
As at 1 January 2023 17,823 265,616
6. Stocks
2023 2022
£ £
Finished goods 1,312,541 1,353,768
Work in progress 5,448 20,220
1,317,989 1,373,988
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7. Debtors
2023 2022
£ £
Due within one year
Trade debtors 1,374,636 1,366,583
Prepayments and accrued income 79,926 313,024
Other debtors 30,167 36,075
Directors' loan accounts 48,843 19,291
1,533,572 1,734,973
8. Creditors: Amounts Falling Due Within One Year
2023 2022
£ £
Trade creditors 733,600 835,285
Bank loans and overdrafts 772 860
Corporation tax 124,335 77,135
Other taxes and social security 32,160 27,307
VAT 161,738 145,089
Accruals and deferred income 38,382 27,738
Directors' loan accounts 218,644 239,784
Amounts owed to group undertakings 59,092 256,805
1,368,723 1,610,003
9. Share Capital
2023 2022
£ £
Allotted, Called up and fully paid 1,000 1,000
10. Directors Advances, Credits and Guarantees
Included within Debtors are the following loans to directors:
As at 1 January 2023 Amounts advanced Amounts repaid Amounts written off As at 31 December 2023
£ £ £ £ £
Mr Stephen Lewis 19,291 70,722 41,170 - 48,843
The above loan is unsecured, interest is charged at the prescribed rate and repayable on demand.
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