Acorah Software Products - Accounts Production 16.0.110 false true 28 February 2023 1 March 2022 false 1 March 2023 29 February 2024 29 February 2024 05722409 Ms Helen Elisabeth Tabbener Mr Mark Joseph Scott Mr Mark Joseph Scott iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 05722409 2023-02-28 05722409 2024-02-29 05722409 2023-03-01 2024-02-29 05722409 frs-core:FurnitureFittings 2023-03-01 2024-02-29 05722409 frs-core:MotorVehicles 2023-03-01 2024-02-29 05722409 frs-core:ShareCapital 2024-02-29 05722409 frs-core:RetainedEarningsAccumulatedLosses 2024-02-29 05722409 frs-bus:PrivateLimitedCompanyLtd 2023-03-01 2024-02-29 05722409 frs-bus:AbridgedAccounts 2023-03-01 2024-02-29 05722409 frs-bus:SmallEntities 2023-03-01 2024-02-29 05722409 frs-bus:AuditExempt-NoAccountantsReport 2023-03-01 2024-02-29 05722409 frs-bus:SmallCompaniesRegimeForAccounts 2023-03-01 2024-02-29 05722409 frs-bus:Director1 2023-03-01 2024-02-29 05722409 frs-bus:Director2 2023-03-01 2024-02-29 05722409 frs-bus:CompanySecretary1 2023-03-01 2024-02-29 05722409 frs-countries:EnglandWales 2023-03-01 2024-02-29 05722409 2022-02-28 05722409 2023-02-28 05722409 2022-03-01 2023-02-28 05722409 frs-core:ShareCapital 2023-02-28 05722409 frs-core:RetainedEarningsAccumulatedLosses 2023-02-28
Registered number: 05722409
Contract Laboratory Services Limited
Unaudited ABRIDGED Financial Statements
For The Year Ended 29 February 2024
Unaudited Financial Statements
Contents
Page
Abridged Balance Sheet 1—2
Notes to the Abridged Financial Statements 3—4
Page 1
Abridged Balance Sheet
Registered number: 05722409
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 3 698,749 707,403
698,749 707,403
CURRENT ASSETS
Stocks 100,988 163,982
Debtors 133,476 103,645
Cash at bank and in hand 840,195 741,201
1,074,659 1,008,828
Creditors: Amounts Falling Due Within One Year (156,957 ) (129,939 )
NET CURRENT ASSETS (LIABILITIES) 917,702 878,889
TOTAL ASSETS LESS CURRENT LIABILITIES 1,616,451 1,586,292
PROVISIONS FOR LIABILITIES
Deferred Taxation (1,554 ) (2,522 )
NET ASSETS 1,614,897 1,583,770
CAPITAL AND RESERVES
Called up share capital 4 2 2
Profit and Loss Account 1,614,895 1,583,768
SHAREHOLDERS' FUNDS 1,614,897 1,583,770
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.
All of the company's members have consented to the preparation of an Abridged Profit and Loss Account and an Abridged Balance Sheet for the year end 29 February 2024 in accordance with section 444(2A) of the Companies Act 2006.
On behalf of the board
Mr Mark Joseph Scott
Director
15th November 2024
The notes on pages 3 to 4 form part of these financial statements.
Page 2
Page 3
Notes to the Abridged Financial Statements
1. Accounting Policies
1.1. 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.
1.2. Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
1.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are stated at cost less depreciation. 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:
Motor Vehicles 15% reducing balance
Fixtures & Fittings 15% reducing balance
1.4. Investment Properties
Investment properties should not be subject to periodic charges for depreciation on the basis set out in SSAP 12, except for properties held on lease which should be depreciated on the basis set out in SSAP 12 at least over the period when the unexpired term is 20 years or less.
Investment properties should be included in the balance sheet at their open market value.
1.5. 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.
1.6. 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 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. Average Number of Employees
Average number of employees, including directors, during the year was as follows: 7 (2023: 6)
7 6
Page 3
Page 4
3. Tangible Assets
Total
£
Cost
As at 1 March 2023 813,453
Additions 1,183
As at 29 February 2024 814,636
Depreciation
As at 1 March 2023 106,050
Provided during the period 9,837
As at 29 February 2024 115,887
Net Book Value
As at 29 February 2024 698,749
As at 1 March 2023 707,403
The analysis of the cost or valuation of the above assets is as follows:
Investment Properties Motor Vehicles Fixtures & Fittings Total
£ £ £ £
As at 29 February 2024
At cost 642,024 108,952 63,660 814,636
642,024 108,952 63,660 814,636
As at 1 March 2023
At cost 642,024 108,952 62,477 813,453
642,024 108,952 62,477 813,453
Fair value of the investment property has been determined by a combination of external sources and the director's judgement.
There has been no valuation of investment property by an independent valuer.
4. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 2 2
5. General Information
Contract Laboratory Services Limited is a private company, limited by shares, incorporated in England & Wales, registered number 05722409 . The registered office is Unit 1a Rivergreen Business Centre, Queen's Meadow Business Park, Hartlepool, Cleveland, TS25 2DL.
Page 4