Acorah Software Products - Accounts Production 16.0.110 false true 31 December 2022 1 January 2022 false 1 January 2023 31 December 2023 31 December 2023 04993641 Ms Caroline McLeod Kelly Mr David Clark iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 04993641 2022-12-31 04993641 2023-12-31 04993641 2023-01-01 2023-12-31 04993641 frs-core:CurrentFinancialInstruments 2023-12-31 04993641 frs-core:Non-currentFinancialInstruments 2023-12-31 04993641 frs-core:ComputerEquipment 2023-12-31 04993641 frs-core:ComputerEquipment 2023-01-01 2023-12-31 04993641 frs-core:ComputerEquipment 2022-12-31 04993641 frs-core:FurnitureFittings 2023-12-31 04993641 frs-core:FurnitureFittings 2023-01-01 2023-12-31 04993641 frs-core:FurnitureFittings 2022-12-31 04993641 frs-core:InvestmentPropertyIncludedWithinPPE 2023-12-31 04993641 frs-core:InvestmentPropertyIncludedWithinPPE 2023-01-01 2023-12-31 04993641 frs-core:InvestmentPropertyIncludedWithinPPE 2022-12-31 04993641 frs-core:LandBuildings frs-core:LeasedAssetsHeldAsLessee 2023-01-01 2023-12-31 04993641 frs-core:LandBuildings frs-core:OwnedOrFreeholdAssets 2023-12-31 04993641 frs-core:LandBuildings frs-core:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 04993641 frs-core:LandBuildings frs-core:OwnedOrFreeholdAssets 2022-12-31 04993641 frs-core:MotorVehicles 2023-12-31 04993641 frs-core:MotorVehicles 2023-01-01 2023-12-31 04993641 frs-core:MotorVehicles 2022-12-31 04993641 frs-core:PlantMachinery 2023-12-31 04993641 frs-core:PlantMachinery 2023-01-01 2023-12-31 04993641 frs-core:PlantMachinery 2022-12-31 04993641 frs-core:RevaluationReserve 2022-12-31 04993641 frs-core:RevaluationReserve 2023-12-31 04993641 frs-core:ShareCapital 2023-12-31 04993641 frs-core:RetainedEarningsAccumulatedLosses 2023-12-31 04993641 frs-bus:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 04993641 frs-bus:FilletedAccounts 2023-01-01 2023-12-31 04993641 frs-bus:SmallEntities 2023-01-01 2023-12-31 04993641 frs-bus:AuditExempt-NoAccountantsReport 2023-01-01 2023-12-31 04993641 frs-bus:SmallCompaniesRegimeForAccounts 2023-01-01 2023-12-31 04993641 frs-bus:Director1 2023-01-01 2023-12-31 04993641 frs-bus:Director2 2023-01-01 2023-12-31 04993641 frs-core:CurrentFinancialInstruments 1 2023-12-31 04993641 frs-core:CurrentFinancialInstruments 4 2023-12-31 04993641 frs-core:CurrentFinancialInstruments 5 2023-12-31 04993641 frs-core:CurrentFinancialInstruments 6 2023-12-31 04993641 frs-countries:EnglandWales 2023-01-01 2023-12-31 04993641 2021-12-31 04993641 2022-12-31 04993641 2022-01-01 2022-12-31 04993641 frs-core:CurrentFinancialInstruments 2022-12-31 04993641 frs-core:Non-currentFinancialInstruments 2022-12-31 04993641 frs-core:RevaluationReserve 2022-12-31 04993641 frs-core:ShareCapital 2022-12-31 04993641 frs-core:RetainedEarningsAccumulatedLosses 2022-12-31 04993641 frs-core:CurrentFinancialInstruments 1 2022-12-31 04993641 frs-core:CurrentFinancialInstruments 2 2022-12-31 04993641 frs-core:CurrentFinancialInstruments 4 2022-12-31 04993641 frs-core:CurrentFinancialInstruments 5 2022-12-31 04993641 frs-core:CurrentFinancialInstruments 6 2022-12-31
Registered number: 04993641
Cornforth Industrial Services Limited
Unaudited Financial Statements
For The Year Ended 31 December 2023
Contents
Page
Statement of Financial Position 1—2
Notes to the Financial Statements 3—5
Page 1
Statement of Financial Position
Registered number: 04993641
2023 2022
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 148,007 185,018
148,007 185,018
CURRENT ASSETS
Stocks 5 18,363 25,785
Debtors 6 97,916 162,526
Cash at bank and in hand 21,412 37,020
137,691 225,331
Creditors: Amounts Falling Due Within One Year 7 (1,010,453 ) (863,199 )
NET CURRENT ASSETS (LIABILITIES) (872,762 ) (637,868 )
TOTAL ASSETS LESS CURRENT LIABILITIES (724,755 ) (452,850 )
Creditors: Amounts Falling Due After More Than One Year 8 (18,528 ) (34,300 )
NET LIABILITIES (743,283 ) (487,150 )
CAPITAL AND RESERVES
Called up share capital 9 2 1
Revaluation reserve 10 129,876 129,876
Income Statement (873,161 ) (617,027 )
SHAREHOLDERS' FUNDS (743,283) (487,150)
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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 Income Statement.
On behalf of the board
Ms Caroline McLeod Kelly
Director
20th March 2025
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
Cornforth Industrial Services Limited is a private company, limited by shares, incorporated in England & Wales, registered number 04993641 . The registered office is Crosskelys, 2 Etherely Bank, West auckland, Co Durham, DL14 0LG.
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:
Freehold No Depreciation
Leasehold No Depreciation
Plant & Machinery Reducing Balance 20%
Motor Vehicles Reducing Balance 20%
Fixtures & Fittings Reducing Balance 20%
Computer Equipment Reducing Balance 20%
2.4. Investment Properties
All investment properties are carried at fair value determined annually and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided for. Changes in fair value are recognised in the income statement.
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. Government Grant
Government grants are recognised in the income statement 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 income statement. Grants towards general activities of the entity over a specific period are recognised in the income statement 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 income statement over the useful life of the asset concerned.
All grants in the income statement 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: 7 (2022: 5)
7 5
4. Tangible Assets
Land & Property
Freehold Investment Properties Plant & Machinery Motor Vehicles
£ £ £ £
Cost
As at 1 January 2023 1 17,700 241,633 103,173
As at 31 December 2023 1 17,700 241,633 103,173
Depreciation
As at 1 January 2023 2 12,094 136,401 65,791
Provided during the period - 1,121 21,047 7,477
Disposals (1 ) - - -
As at 31 December 2023 1 13,215 157,448 73,268
Net Book Value
As at 31 December 2023 - 4,485 84,185 29,905
As at 1 January 2023 (1 ) 5,606 105,232 37,382
Fixtures & Fittings Computer Equipment Total
£ £ £
Cost
As at 1 January 2023 84,122 11,979 458,608
As at 31 December 2023 84,122 11,979 458,608
Depreciation
As at 1 January 2023 53,408 5,894 273,590
Provided during the period 6,143 1,224 37,012
Disposals - - (1 )
As at 31 December 2023 59,551 7,118 310,601
Net Book Value
As at 31 December 2023 24,571 4,861 148,007
As at 1 January 2023 30,714 6,085 185,018
5. Stocks
2023 2022
£ £
Work in progress 18,363 25,785
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Page 5
6. Debtors
2023 2022
£ £
Due within one year
Trade debtors 97,916 109,476
Other debtors (2) - 53,050
97,916 162,526
7. Creditors: Amounts Falling Due Within One Year
2023 2022
£ £
Trade creditors 111,102 42,648
Other taxes and social security 6,910 5,584
VAT 3,382 12,883
Other creditors - Cornforth Contracts Loan 144,020 118,520
Ultimate Factoring Account 11,867 35,471
Other creditors (4) 146,138 110,971
Other creditors (5) 23,825 -
Other creditors (6) 2,240 -
Directors' loan accounts 560,969 537,122
1,010,453 863,199
8. Creditors: Amounts Falling Due After More Than One Year
2023 2022
£ £
Bank loans 18,528 34,300
9. Share Capital
2023 2022
£ £
Allotted, Called up and fully paid 2 1
10. Reserves
Revaluation Reserve
£
As at 1 January 2023 129,876
As at 31 December 2023 129,876
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