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 06599321 Mr Grant Moore Mrs Joanne Moore Mrs Jacqueline Southern Mrs Joanne Moore iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 06599321 2022-12-31 06599321 2023-12-31 06599321 2023-01-01 2023-12-31 06599321 frs-core:CurrentFinancialInstruments 2023-12-31 06599321 frs-core:Non-currentFinancialInstruments 2023-12-31 06599321 frs-core:BetweenOneFiveYears 2023-12-31 06599321 frs-core:ComputerEquipment 2023-12-31 06599321 frs-core:ComputerEquipment 2023-01-01 2023-12-31 06599321 frs-core:ComputerEquipment 2022-12-31 06599321 frs-core:FurnitureFittings 2023-12-31 06599321 frs-core:FurnitureFittings 2023-01-01 2023-12-31 06599321 frs-core:FurnitureFittings 2022-12-31 06599321 frs-core:LandBuildings frs-core:LeasedAssetsHeldAsLessee 2023-12-31 06599321 frs-core:LandBuildings frs-core:LeasedAssetsHeldAsLessee 2023-01-01 2023-12-31 06599321 frs-core:LandBuildings frs-core:LeasedAssetsHeldAsLessee 2022-12-31 06599321 frs-core:MotorVehicles 2023-12-31 06599321 frs-core:MotorVehicles 2023-01-01 2023-12-31 06599321 frs-core:MotorVehicles 2022-12-31 06599321 frs-core:PlantMachinery 2023-12-31 06599321 frs-core:PlantMachinery 2023-01-01 2023-12-31 06599321 frs-core:PlantMachinery 2022-12-31 06599321 frs-core:WithinOneYear 2023-12-31 06599321 frs-core:RevaluationReserve 2023-01-01 2023-12-31 06599321 frs-core:RevaluationReserve 2023-12-31 06599321 frs-core:ShareCapital 2023-12-31 06599321 frs-core:RetainedEarningsAccumulatedLosses 2023-12-31 06599321 frs-bus:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 06599321 frs-bus:FilletedAccounts 2023-01-01 2023-12-31 06599321 frs-bus:SmallEntities 2023-01-01 2023-12-31 06599321 frs-bus:AuditExempt-NoAccountantsReport 2023-01-01 2023-12-31 06599321 frs-bus:SmallCompaniesRegimeForAccounts 2023-01-01 2023-12-31 06599321 frs-bus:Director1 2023-01-01 2023-12-31 06599321 frs-bus:Director2 2023-01-01 2023-12-31 06599321 frs-bus:Director3 2023-01-01 2023-12-31 06599321 frs-bus:CompanySecretary1 2023-01-01 2023-12-31 06599321 frs-core:CurrentFinancialInstruments 1 2023-12-31 06599321 frs-countries:EnglandWales 2023-01-01 2023-12-31 06599321 2021-12-31 06599321 2022-12-31 06599321 2022-01-01 2022-12-31 06599321 frs-core:CurrentFinancialInstruments 2022-12-31 06599321 frs-core:Non-currentFinancialInstruments 2022-12-31 06599321 frs-core:BetweenOneFiveYears 2022-12-31 06599321 frs-core:WithinOneYear 2022-12-31 06599321 frs-core:RevaluationReserve 2022-12-31 06599321 frs-core:ShareCapital 2022-12-31 06599321 frs-core:RetainedEarningsAccumulatedLosses 2022-12-31 06599321 frs-core:CurrentFinancialInstruments 1 2022-12-31
Registered number: 06599321
CSM Steelstock Ltd
Unaudited Financial Statements
For The Year Ended 31 December 2023
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—7
Page 1
Balance Sheet
Registered number: 06599321
2023 2022
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 3,257,308 2,013,450
3,257,308 2,013,450
CURRENT ASSETS
Stocks 5 497,897 870,140
Debtors 6 1,358,803 1,742,488
1,856,700 2,612,628
Creditors: Amounts Falling Due Within One Year 7 (2,541,204 ) (2,494,069 )
NET CURRENT ASSETS (LIABILITIES) (684,504 ) 118,559
TOTAL ASSETS LESS CURRENT LIABILITIES 2,572,804 2,132,009
Creditors: Amounts Falling Due After More Than One Year 8 (1,374,163 ) (902,602 )
PROVISIONS FOR LIABILITIES
Deferred Taxation (140,468 ) (117,592 )
NET ASSETS 1,058,173 1,111,815
CAPITAL AND RESERVES
Called up share capital 10 1,000 1,000
Revaluation reserve 11 213,648 -
Profit and Loss Account 843,525 1,110,815
SHAREHOLDERS' FUNDS 1,058,173 1,111,815
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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 Grant Moore
Director
16/09/2024
The notes on pages 3 to 7 form part of these financial statements.
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Page 3
Notes to the Financial Statements
1. General Information
CSM Steelstock Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 06599321 . The registered office is Unit 1a Newhouse Road, Huncoat Industrial Estate, Accrington, BB5 6NT.
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 or valuation 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 2% straight line
Plant & Machinery 15% reducing balance
Motor Vehicles 25% reducing balance
Fixtures & Fittings 15% reducing balance
Computer Equipment 15% reducing balance
2.4. Leasing and Hire Purchase Contracts
Assets obtained under 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.
2.5. 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.
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2.6. 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.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 21 (2022: 19)
21 19
4. Tangible Assets
Land & Property
Leasehold Plant & Machinery Motor Vehicles Fixtures & Fittings
£ £ £ £
Cost or Valuation
As at 1 January 2023 1,486,418 451,852 261,029 246,949
Additions 81,547 1,026,443 33,500 62,139
Disposals - (25,318 ) (21,875 ) (3,000 )
Revaluation 273,908 - - -
As at 31 December 2023 1,841,873 1,452,977 272,654 306,088
Depreciation
As at 1 January 2023 91,871 184,335 120,453 59,243
Provided during the period 50,002 99,699 41,555 32,531
Disposals - (16,012 ) (19,601 ) (2,189 )
As at 31 December 2023 141,873 268,022 142,407 89,585
Net Book Value
As at 31 December 2023 1,700,000 1,184,955 130,247 216,503
As at 1 January 2023 1,394,547 267,517 140,576 187,706
Computer Equipment Total
£ £
Cost or Valuation
As at 1 January 2023 46,357 2,492,605
Additions 6,542 1,210,171
...CONTINUED
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Disposals - (50,193 )
Revaluation - 273,908
As at 31 December 2023 52,899 3,926,491
Depreciation
As at 1 January 2023 23,253 479,155
Provided during the period 4,043 227,830
Disposals - (37,802 )
As at 31 December 2023 27,296 669,183
Net Book Value
As at 31 December 2023 25,603 3,257,308
As at 1 January 2023 23,104 2,013,450
Cost or valuation as at 31 December 2023 represented by:
Land & Property
Leasehold Plant & Machinery Motor Vehicles Fixtures & Fittings
£ £ £ £
At cost - 1,452,977 272,654 306,088
At valuation 1,841,873 - - -
1,841,873 1,452,977 272,654 306,088
Computer Equipment Total
£ £
At cost 52,899 2,084,618
At valuation - 1,841,873
52,899 3,926,491
The land and buildings were revalued on 31st December 2023 by a registered valuer of Lea Hough Chartered Surveyors, who is a member of the Royal Institute of Chartered Surveyors.  The valuation took place in order to bring the value of the assets in line with the current market.
If the following tangible fixed assets had been accounted for under historical cost accounting rules, the amounts would be:
Land & Property
Leasehold
£
Cost 1,567,965
Accumulated depreciation and impairment 120,775
Carrying amount 1,447,190
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5. Stocks
2023 2022
£ £
Materials 497,897 870,140
6. Debtors
2023 2022
£ £
Due within one year
Trade debtors 1,317,630 1,727,116
Prepayments and accrued income 12,799 11,156
Other debtors 542 2,000
Corporation tax recoverable assets 27,832 2,216
1,358,803 1,742,488
7. Creditors: Amounts Falling Due Within One Year
2023 2022
£ £
Net obligations under finance lease and hire purchase contracts 236,579 67,800
Trade creditors 1,291,030 1,226,492
Bank loans and overdrafts 227,764 167,182
Corporation tax 32,924 32,924
Other taxes and social security 11,911 13,042
VAT 48,437 74,266
Other creditors 632,541 789,008
Other creditors (1) 1,845 1,909
Accruals and deferred income 8,414 6,816
Directors' loan accounts 49,759 114,630
2,541,204 2,494,069
8. Creditors: Amounts Falling Due After More Than One Year
2023 2022
£ £
Net obligations under finance lease and hire purchase contracts 714,948 156,656
Bank loans 659,215 745,946
1,374,163 902,602
9. Obligations Under Finance Leases and Hire Purchase
2023 2022
£ £
The future minimum finance lease payments are as follows:
Not later than one year 236,579 67,800
Later than one year and not later than five years 714,948 156,656
951,527 224,456
951,527 224,456
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10. Share Capital
2023 2022
£ £
Allotted, Called up and fully paid 1,000 1,000
11. Reserves
Revaluation Reserve
£
Surplus on revaluation 213,648
As at 31 December 2023 213,648
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