Acorah Software Products - Accounts Production 15.0.600 false true 28 February 2023 1 March 2022 false 1 March 2023 29 February 2024 29 February 2024 02492536 Mrs D M Reid Mr F M Reid Mr F M Reid iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 02492536 2023-02-28 02492536 2024-02-29 02492536 2023-03-01 2024-02-29 02492536 frs-core:CurrentFinancialInstruments 2024-02-29 02492536 frs-core:FurnitureFittings 2024-02-29 02492536 frs-core:FurnitureFittings 2023-03-01 2024-02-29 02492536 frs-core:FurnitureFittings 2023-02-28 02492536 frs-core:MotorVehicles 2024-02-29 02492536 frs-core:MotorVehicles 2023-03-01 2024-02-29 02492536 frs-core:MotorVehicles 2023-02-28 02492536 frs-core:PlantMachinery 2024-02-29 02492536 frs-core:PlantMachinery 2023-03-01 2024-02-29 02492536 frs-core:PlantMachinery 2023-02-28 02492536 frs-core:ShareCapital 2024-02-29 02492536 frs-core:RetainedEarningsAccumulatedLosses 2024-02-29 02492536 frs-bus:PrivateLimitedCompanyLtd 2023-03-01 2024-02-29 02492536 frs-bus:FilletedAccounts 2023-03-01 2024-02-29 02492536 frs-bus:SmallEntities 2023-03-01 2024-02-29 02492536 frs-bus:AuditExempt-NoAccountantsReport 2023-03-01 2024-02-29 02492536 frs-bus:SmallCompaniesRegimeForAccounts 2023-03-01 2024-02-29 02492536 frs-bus:Director1 2023-03-01 2024-02-29 02492536 frs-bus:Director2 2023-03-01 2024-02-29 02492536 frs-bus:CompanySecretary1 2023-03-01 2024-02-29 02492536 frs-core:CurrentFinancialInstruments 1 2024-02-29 02492536 frs-core:CurrentFinancialInstruments 2 2024-02-29 02492536 frs-countries:EnglandWales 2023-03-01 2024-02-29 02492536 2022-02-28 02492536 2023-02-28 02492536 2022-03-01 2023-02-28 02492536 frs-core:CurrentFinancialInstruments 2023-02-28 02492536 frs-core:Non-currentFinancialInstruments 2023-02-28 02492536 frs-core:WithinOneYear 2023-02-28 02492536 frs-core:ShareCapital 2023-02-28 02492536 frs-core:RetainedEarningsAccumulatedLosses 2023-02-28 02492536 frs-core:CurrentFinancialInstruments 1 2023-02-28 02492536 frs-core:CurrentFinancialInstruments 2 2023-02-28
Registered number: 02492536
Cyber-Weld Limited
Unaudited Financial Statements
For The Year Ended 29 February 2024
Unaudited Financial Statements
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—6
Page 1
Balance Sheet
Registered number: 02492536
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 514,166 425,807
514,166 425,807
CURRENT ASSETS
Stocks 5 600,000 628,480
Debtors 6 894,765 606,919
Cash at bank and in hand 1,631,419 948,315
3,126,184 2,183,714
Creditors: Amounts Falling Due Within One Year 7 (1,713,821 ) (797,488 )
NET CURRENT ASSETS (LIABILITIES) 1,412,363 1,386,226
TOTAL ASSETS LESS CURRENT LIABILITIES 1,926,529 1,812,033
PROVISIONS FOR LIABILITIES
Deferred Taxation (94,625 ) (63,915 )
NET ASSETS 1,831,904 1,748,118
CAPITAL AND RESERVES
Called up share capital 9 2 2
Profit and Loss Account 1,831,902 1,748,116
SHAREHOLDERS' FUNDS 1,831,904 1,748,118
Page 1
Page 2
For the year ending 29 February 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 F M Reid
Director
26/09/2024
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
Cyber-Weld Limited is a private company, limited by shares, incorporated in England & Wales, registered number 02492536 . The registered office is Willows End, Banbury Road Bloxham, Banbury, Oxfordshire, OX15 4PD.
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 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
Fixtures & Fittings 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.
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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. 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.
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.
2.8. Government Grant
Government grants are recognised in the profit and loss account in an appropriate manner that matches them with the expenditure towards which they are intended to contribute.
Grants for immediate financial support or to cover costs already incurred are recognised immediately in the profit and loss account. Grants towards general activities of the entity over a specific period are recognised in the profit and loss account over that period.
Grants towards fixed assets are recognised over the expected useful lives of the related assets and are treated as deferred income and released to the profit and loss account over the useful life of the asset concerned.
All grants in the profit and loss account are recognised when all conditions for receipt have been complied with.
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3. Average Number of Employees
Average number of employees, including directors, during the year was: 27 (2023: 25)
27 25
4. Tangible Assets
Plant & Machinery Motor Vehicles Fixtures & Fittings Total
£ £ £ £
Cost
As at 1 March 2023 229,555 587,826 187,042 1,004,423
Additions 15,534 277,939 - 293,473
Disposals - (110,014 ) - (110,014 )
As at 29 February 2024 245,089 755,751 187,042 1,187,882
Depreciation
As at 1 March 2023 179,082 307,640 91,894 578,616
Provided during the period 16,502 127,928 14,272 158,702
Disposals - (63,602 ) - (63,602 )
As at 29 February 2024 195,584 371,966 106,166 673,716
Net Book Value
As at 29 February 2024 49,505 383,785 80,876 514,166
As at 1 March 2023 50,473 280,186 95,148 425,807
5. Stocks
2024 2023
£ £
Stock 600,000 628,480
6. Debtors
2024 2023
£ £
Due within one year
Trade debtors 862,598 559,202
Prepayments and accrued income 31,317 13,748
Other debtors 750 750
Employee loan 100 -
894,765 573,700
Due after more than one year
Corporation tax recoverable assets - 33,219
- 33,219
894,765 606,919
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7. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Net obligations under finance lease and hire purchase contracts - 2,112
Trade creditors 398,577 472,479
Bank loans and overdrafts - 21,250
Corporation tax 26,495 -
Other taxes and social security 49,671 37,842
VAT 217,470 86,666
Net wages 50,019 47,025
Accruals 217,507 116,827
Pension control 6,698 8,551
Directors' loan accounts 4,736 4,736
Amounts owed to group undertakings 742,648 -
1,713,821 797,488
8. Obligations Under Finance Leases and Hire Purchase
2024 2023
£ £
The future minimum finance lease payments are as follows:
Not later than one year - 2,112
9. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 2 2
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