Acorah Software Products - Accounts Production 15.0.600 false true 31 March 2023 1 April 2022 false 1 April 2023 31 March 2024 31 March 2024 10687729 Mr Raymond Cooper Mr Rodney Cooper iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 10687729 2023-03-31 10687729 2024-03-31 10687729 2023-04-01 2024-03-31 10687729 frs-core:CurrentFinancialInstruments 2024-03-31 10687729 frs-core:Non-currentFinancialInstruments 2024-03-31 10687729 frs-core:DevelopmentCostsCapitalisedDevelopmentExpenditure 2023-04-01 2024-03-31 10687729 frs-core:FurnitureFittings 2024-03-31 10687729 frs-core:FurnitureFittings 2023-04-01 2024-03-31 10687729 frs-core:FurnitureFittings 2023-03-31 10687729 frs-core:OtherResidualIntangibleAssets 2024-03-31 10687729 frs-core:OtherResidualIntangibleAssets 2023-04-01 2024-03-31 10687729 frs-core:OtherResidualIntangibleAssets 2023-03-31 10687729 frs-core:PlantMachinery 2024-03-31 10687729 frs-core:PlantMachinery 2023-04-01 2024-03-31 10687729 frs-core:PlantMachinery 2023-03-31 10687729 frs-core:ShareCapital 2024-03-31 10687729 frs-core:RetainedEarningsAccumulatedLosses 2024-03-31 10687729 frs-bus:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 10687729 frs-bus:FilletedAccounts 2023-04-01 2024-03-31 10687729 frs-bus:SmallEntities 2023-04-01 2024-03-31 10687729 frs-bus:AuditExempt-NoAccountantsReport 2023-04-01 2024-03-31 10687729 frs-bus:SmallCompaniesRegimeForAccounts 2023-04-01 2024-03-31 10687729 frs-bus:Director1 2023-04-01 2024-03-31 10687729 frs-bus:Director2 2023-04-01 2024-03-31 10687729 frs-core:CurrentFinancialInstruments 1 2024-03-31 10687729 frs-countries:EnglandWales 2023-04-01 2024-03-31 10687729 2022-03-31 10687729 2023-03-31 10687729 2022-04-01 2023-03-31 10687729 frs-core:CurrentFinancialInstruments 2023-03-31 10687729 frs-core:Non-currentFinancialInstruments 2023-03-31 10687729 frs-core:ShareCapital 2023-03-31 10687729 frs-core:RetainedEarningsAccumulatedLosses 2023-03-31 10687729 frs-core:CurrentFinancialInstruments 1 2023-03-31
Registered number: 10687729
Vulcan Cladding Systems Limited
Unaudited Financial Statements
For The Year Ended 31 March 2024
Montacs
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—6
Page 1
Balance Sheet
Registered number: 10687729
2024 2023
Notes £ £ £ £
FIXED ASSETS
Intangible Assets 4 3,500 6,500
Tangible Assets 5 9,905 13,031
13,405 19,531
CURRENT ASSETS
Stocks 6 283,751 476,033
Debtors 7 107,300 789,847
Cash at bank and in hand 506,038 644,893
897,089 1,910,773
Creditors: Amounts Falling Due Within One Year 8 (218,643 ) (1,121,381 )
NET CURRENT ASSETS (LIABILITIES) 678,446 789,392
TOTAL ASSETS LESS CURRENT LIABILITIES 691,851 808,923
Creditors: Amounts Falling Due After More Than One Year 9 (141,379 ) (212,115 )
NET ASSETS 550,472 596,808
CAPITAL AND RESERVES
Called up share capital 10 100,100 100,100
Profit and Loss Account 450,372 496,708
SHAREHOLDERS' FUNDS 550,472 596,808
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For the year 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 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 Raymond Cooper
Director
31/10/2024
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
Vulcan Cladding Systems Limited is a private company, limited by shares, incorporated in England & Wales, registered number 10687729 . The registered office is 4 Imperial Way, Croydon, CR0 4RR.
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 - Other Intangible
Other intangible assets are amortised to profit and loss account over its estimated economic life of 5 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
Fixtures & Fittings 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. 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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2.7. 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.
3. Average Number of Employees
Average number of employees, including directors, during the year was as follows:
2024 2023
Office and administration 9 8
9 8
4. Intangible Assets
Other
£
Cost
As at 1 April 2023 15,000
As at 31 March 2024 15,000
Amortisation
As at 1 April 2023 8,500
Provided during the period 3,000
As at 31 March 2024 11,500
Net Book Value
As at 31 March 2024 3,500
As at 1 April 2023 6,500
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5. Tangible Assets
Plant & Machinery Fixtures & Fittings Total
£ £ £
Cost
As at 1 April 2023 31,788 26,544 58,332
Additions 566 3,083 3,649
As at 31 March 2024 32,354 29,627 61,981
Depreciation
As at 1 April 2023 25,056 20,245 45,301
Provided during the period 1,825 4,950 6,775
As at 31 March 2024 26,881 25,195 52,076
Net Book Value
As at 31 March 2024 5,473 4,432 9,905
As at 1 April 2023 6,732 6,299 13,031
6. Stocks
2024 2023
£ £
Stock 283,751 476,033
7. Debtors
2024 2023
£ £
Due within one year
Trade debtors 72,174 757,794
Prepayments and accrued income 21,198 32,053
93,372 789,847
Due after more than one year
Directors loan account 13,928 -
107,300 789,847
8. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 71,810 310,226
Corporation tax 22,083 96,282
Other taxes and social security 10,172 8,495
VAT 18,604 175,997
Pension Fund 657 468
Accruals and deferred income 95,317 529,913
218,643 1,121,381
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9. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Directors loan account 141,379 212,115
10. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 100,100 100,100
11. Directors Advances, Credits and Guarantees
Included within Debtors are the following loans to directors: R Cooper £13,927
The above loan is unsecured and repayable on demand. The loan will be repaid within the statutory period.
12. Dividends
2024 2023
£ £
On equity shares:
Interim dividend paid 106,383 128,836
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