2023-03-012024-02-292024-02-29false10641220CORRSON 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CORRSON LIMITED

Registered Number
10641220
(England and Wales)

Unaudited Financial Statements for the Year ended
29 February 2024

CORRSON LIMITED
Company Information
for the year from 1 March 2023 to 29 February 2024

Directors

BRYSON, Michelle
CORRINGHAM, Timothy
ROBINSON, James
ROBINSON, Sarah Janet

Registered Address

Suite 312, Atlas House Caxton Close
Wigan
WN3 6XU

Registered Number

10641220 (England and Wales)
CORRSON LIMITED
Balance Sheet as at
29 February 2024

Notes

2024

2023

£

£

£

£

Fixed assets
Tangible assets3-264
-264
Current assets
Stocks4-26,820
Debtors48,764
Cash at bank and on hand1,7061,120
1,71036,704
Creditors amounts falling due within one year5(8,027)(42,353)
Net current assets (liabilities)(6,317)(5,649)
Total assets less current liabilities(6,317)(5,385)
Creditors amounts falling due after one year6(8,464)(13,690)
Net assets(14,781)(19,075)
Capital and reserves
Called up share capital100100
Profit and loss account(14,881)(19,175)
Shareholders' funds(14,781)(19,075)
The financial statements were approved and authorised for issue by the Board of Directors on 29 November 2024, and are signed on its behalf by:
ROBINSON, James
Director
Registered Company No. 10641220
CORRSON LIMITED
Notes to the Financial Statements
for the year ended 29 February 2024

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
Statement of compliance
The financial statements have been prepared in compliance with FRS 102 Section 1A as it applies to the financial statements for the period and there were no material departures from the reporting standard.
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, the financial reporting standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover policy
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.
Revenue from sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. 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.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
Current taxation
Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Tangible fixed assets and depreciation
Tangible fixed assets are stated at cost or valuation less depreciation. Depreciation is provided on all tangible fixed assets as follows:

Straight line (years)
Office Equipment3
Stocks and work in progress
Stocks are valued at the lower of cost and estimated selling price (less any associated costs to enable such sales to complete).
2.Average number of employees

20242023
Average number of employees during the year00
3.Tangible fixed assets

Office Equipment

Total

££
Cost or valuation
At 01 March 231,0041,004
At 29 February 241,0041,004
Depreciation and impairment
At 01 March 23740740
Charge for year264264
At 29 February 241,0041,004
Net book value
At 29 February 24--
At 28 February 23264264
4.Stocks

2024

2023

££
Other stocks-26,820
Total-26,820
5.Creditors: amounts due within one year

2024

2023

££
Trade creditors / trade payables-6,351
Bank borrowings and overdrafts5,3005,065
Taxation and social security2,7271,916
Other creditors-29,021
Total8,02742,353
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
6.Creditors: amounts due after one year

2024

2023

££
Bank borrowings and overdrafts8,46413,690
Total8,46413,690