Acorah Software Products - Accounts Production 15.0.600 false true 31 December 2022 1 October 2021 false 1 January 2023 31 December 2023 31 December 2023 04909650 Mr James Wilkinson Ms Michelle Sands-Wilkinson iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 04909650 2022-12-31 04909650 2023-12-31 04909650 2023-01-01 2023-12-31 04909650 frs-core:CurrentFinancialInstruments 2023-12-31 04909650 frs-core:Non-currentFinancialInstruments 2023-12-31 04909650 frs-core:ComputerEquipment 2023-12-31 04909650 frs-core:ComputerEquipment 2023-01-01 2023-12-31 04909650 frs-core:ComputerEquipment 2022-12-31 04909650 frs-core:NetGoodwill 2023-12-31 04909650 frs-core:NetGoodwill 2023-01-01 2023-12-31 04909650 frs-core:NetGoodwill 2022-12-31 04909650 frs-core:MotorVehicles 2023-12-31 04909650 frs-core:MotorVehicles 2023-01-01 2023-12-31 04909650 frs-core:MotorVehicles 2022-12-31 04909650 frs-core:PlantMachinery 2023-12-31 04909650 frs-core:PlantMachinery 2023-01-01 2023-12-31 04909650 frs-core:PlantMachinery 2022-12-31 04909650 frs-core:ShareCapital 2023-12-31 04909650 frs-core:RetainedEarningsAccumulatedLosses 2023-12-31 04909650 frs-bus:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 04909650 frs-bus:FilletedAccounts 2023-01-01 2023-12-31 04909650 frs-bus:SmallEntities 2023-01-01 2023-12-31 04909650 frs-bus:AuditExempt-NoAccountantsReport 2023-01-01 2023-12-31 04909650 frs-bus:SmallCompaniesRegimeForAccounts 2023-01-01 2023-12-31 04909650 frs-bus:Director1 2023-01-01 2023-12-31 04909650 frs-bus:Director2 2023-01-01 2023-12-31 04909650 frs-countries:EnglandWales 2023-01-01 2023-12-31 04909650 2021-09-30 04909650 2022-12-31 04909650 2021-10-01 2022-12-31 04909650 frs-core:CurrentFinancialInstruments 2022-12-31 04909650 frs-core:Non-currentFinancialInstruments 2022-12-31 04909650 frs-core:ShareCapital 2022-12-31 04909650 frs-core:RetainedEarningsAccumulatedLosses 2022-12-31
CWC Malings Ltd
Unaudited Financial Statements
For The Year Ended 31 December 2023
Unaudited Financial Statements
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 04909650
31 December 2023 31 December 2022
Notes £ £ £ £
FIXED ASSETS
Intangible Assets 4 26,989 31,517
Tangible Assets 5 14,847 20,112
41,836 51,629
CURRENT ASSETS
Stocks 6 - 2,500
Debtors 7 123,247 177,041
Cash at bank and in hand 114,132 7,048
237,379 186,589
Creditors: Amounts Falling Due Within One Year 8 (89,242 ) (67,503 )
NET CURRENT ASSETS (LIABILITIES) 148,137 119,086
TOTAL ASSETS LESS CURRENT LIABILITIES 189,973 170,715
Creditors: Amounts Falling Due After More Than One Year 9 - (20,000 )
PROVISIONS FOR LIABILITIES
Deferred Taxation (3,712 ) (3,821 )
NET ASSETS 186,261 146,894
CAPITAL AND RESERVES
Called up share capital 10 100 100
Profit and Loss Account 186,161 146,794
SHAREHOLDERS' FUNDS 186,261 146,894
Page 1
Page 2
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 Wilkinson
Director
Ms Michelle Sands-Wilkinson
Director
19th September 2024
The notes on pages 3 to 5 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
CWC Malings Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 04909650 . The registered office is Arnison House, 139A High Street, Yarm, Cleveland, TS15 9AY.
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 20 years.
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:
Plant & Machinery 25% reducing balance
Motor Vehicles 25% reducing balance
Computer Equipment 33% straight line
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.
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.
...CONTINUED
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2.6. Taxation - continued
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: 31 (2022: 30)
31 30
4. Intangible Assets
Goodwill
£
Cost
As at 1 January 2023 90,562
As at 31 December 2023 90,562
Amortisation
As at 1 January 2023 59,045
Provided during the period 4,528
As at 31 December 2023 63,573
Net Book Value
As at 31 December 2023 26,989
As at 1 January 2023 31,517
5. Tangible Assets
Plant & Machinery Motor Vehicles Computer Equipment Total
£ £ £ £
Cost
As at 1 January 2023 2,750 25,854 3,072 31,676
As at 31 December 2023 2,750 25,854 3,072 31,676
Depreciation
As at 1 January 2023 2,644 6,464 2,456 11,564
Provided during the period 26 4,848 391 5,265
As at 31 December 2023 2,670 11,312 2,847 16,829
Net Book Value
As at 31 December 2023 80 14,542 225 14,847
As at 1 January 2023 106 19,390 616 20,112
6. Stocks
31 December 2023 31 December 2022
£ £
Finished goods - 2,500
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Page 5
7. Debtors
31 December 2023 31 December 2022
£ £
Due within one year
Trade debtors 75,329 97,868
Prepayments and accrued income 47,918 79,173
123,247 177,041
8. Creditors: Amounts Falling Due Within One Year
31 December 2023 31 December 2022
£ £
Trade creditors 19,259 25,768
Corporation tax 30,722 18,486
Other taxes and social security 8,689 6,112
VAT 30,970 16,973
Other creditors (402 ) 162
Directors' loan accounts 4 2
89,242 67,503
9. Creditors: Amounts Falling Due After More Than One Year
31 December 2023 31 December 2022
£ £
Bank loans - 20,000
- 20,000
10. Share Capital
31 December 2023 31 December 2022
£ £
Allotted, Called up and fully paid 100 100
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