Acorah Software Products - Accounts Production 16.1.300 false true 30 June 2023 1 July 2022 false 1 July 2023 30 June 2024 30 June 2024 07053940 Mrs Wendy Timson Mr Andrew Timson Mr Daniel Gregory Miss Donna Spencer iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 07053940 2023-06-30 07053940 2024-06-30 07053940 2023-07-01 2024-06-30 07053940 frs-core:CurrentFinancialInstruments 2024-06-30 07053940 frs-core:Non-currentFinancialInstruments 2024-06-30 07053940 frs-core:BetweenOneFiveYears 2024-06-30 07053940 frs-core:ComputerEquipment 2024-06-30 07053940 frs-core:ComputerEquipment 2023-07-01 2024-06-30 07053940 frs-core:ComputerEquipment 2023-06-30 07053940 frs-core:FurnitureFittings 2024-06-30 07053940 frs-core:FurnitureFittings 2023-07-01 2024-06-30 07053940 frs-core:FurnitureFittings 2023-06-30 07053940 frs-core:MotorVehicles 2024-06-30 07053940 frs-core:MotorVehicles 2023-07-01 2024-06-30 07053940 frs-core:MotorVehicles 2023-06-30 07053940 frs-core:PlantMachinery 2024-06-30 07053940 frs-core:PlantMachinery 2023-07-01 2024-06-30 07053940 frs-core:PlantMachinery 2023-06-30 07053940 frs-core:WithinOneYear 2024-06-30 07053940 frs-core:ShareCapital 2024-06-30 07053940 frs-core:RetainedEarningsAccumulatedLosses 2024-06-30 07053940 frs-bus:PrivateLimitedCompanyLtd 2023-07-01 2024-06-30 07053940 frs-bus:FilletedAccounts 2023-07-01 2024-06-30 07053940 frs-bus:SmallEntities 2023-07-01 2024-06-30 07053940 frs-bus:AuditExempt-NoAccountantsReport 2023-07-01 2024-06-30 07053940 frs-bus:SmallCompaniesRegimeForAccounts 2023-07-01 2024-06-30 07053940 frs-bus:Director1 2023-07-01 2024-06-30 07053940 frs-bus:Director2 2023-07-01 2024-06-30 07053940 frs-bus:Director3 2023-07-01 2024-06-30 07053940 frs-bus:Director4 2023-07-01 2024-06-30 07053940 frs-countries:EnglandWales 2023-07-01 2024-06-30 07053940 2022-06-30 07053940 2023-06-30 07053940 2022-07-01 2023-06-30 07053940 frs-core:CurrentFinancialInstruments 2023-06-30 07053940 frs-core:Non-currentFinancialInstruments 2023-06-30 07053940 frs-core:BetweenOneFiveYears 2023-06-30 07053940 frs-core:MotorVehicles 2022-07-01 2023-06-30 07053940 frs-core:WithinOneYear 2023-06-30 07053940 frs-core:ShareCapital 2023-06-30 07053940 frs-core:RetainedEarningsAccumulatedLosses 2023-06-30
Registered number: 07053940
Cotex Insulation Services Ltd
Unaudited Financial Statements
For The Year Ended 30 June 2024
Association of Chartered Certified Accountants (ACCA)
Key Accountants
Office 5, The Forest Rock Offices
Leicester Road, Whitwick
Leicestershire
LE67 5GQ
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 07053940
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 117,461 99,832
117,461 99,832
CURRENT ASSETS
Debtors 5 131,680 34,662
Cash at bank and in hand 112,170 122,618
243,850 157,280
Creditors: Amounts Falling Due Within One Year 6 (112,722 ) (57,981 )
NET CURRENT ASSETS (LIABILITIES) 131,128 99,299
TOTAL ASSETS LESS CURRENT LIABILITIES 248,589 199,131
Creditors: Amounts Falling Due After More Than One Year 7 (75,129 ) (73,866 )
PROVISIONS FOR LIABILITIES
Deferred Taxation (28,096 ) (23,608 )
NET ASSETS 145,364 101,657
CAPITAL AND RESERVES
Called up share capital 10 51 51
Profit and Loss Account 145,313 101,606
SHAREHOLDERS' FUNDS 145,364 101,657
Page 1
Page 2
For the year ending 30 June 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 Daniel Gregory
Director
27th 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
Cotex Insulation Services Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 07053940 . The registered office is Office 5, The Forest Rock Offices Leicester Road, Whitwick, Coalville, Leicestershire, LE67 5GQ.
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 20% Reducing Balance
Motor Vehicles 20% Reducing Balance
Fixtures & Fittings 20% Reducing Balance
Computer Equipment 20% 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.
2.5. 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.
...CONTINUED
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2.5. Taxation - continued
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.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 4 (2023: 4)
4 4
4. Tangible Assets
Plant & Machinery Motor Vehicles Fixtures & Fittings Computer Equipment Total
£ £ £ £ £
Cost
As at 1 July 2023 1,405 109,449 20,843 6,060 137,757
Additions - 46,995 - - 46,995
As at 30 June 2024 1,405 156,444 20,843 6,060 184,752
Depreciation
As at 1 July 2023 1,405 25,292 8,038 3,190 37,925
Provided during the period - 26,231 2,561 574 29,366
As at 30 June 2024 1,405 51,523 10,599 3,764 67,291
Net Book Value
As at 30 June 2024 - 104,921 10,244 2,296 117,461
As at 1 July 2023 - 84,157 12,805 2,870 99,832
Included above are assets held under finance leases or hire purchase contracts with a net book value as follows:
2024 2023
£ £
Motor Vehicles 104,921 84,157
5. Debtors
2024 2023
£ £
Due within one year
Trade debtors 130,208 33,339
Prepayments and accrued income 1,472 1,323
131,680 34,662
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Page 5
6. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Net obligations under finance lease and hire purchase contracts 30,298 19,214
Bank loans and overdrafts 10,000 10,000
Corporation tax 52,080 13,618
Other taxes and social security 1,877 -
VAT 16,392 7,060
Directors' loan accounts 2,075 8,089
112,722 57,981
7. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Net obligations under finance lease and hire purchase contracts 61,796 50,533
Bank loans 13,333 23,333
75,129 73,866
8. Secured Creditors
Of the creditors the following amounts are secured.
2024 2023
£ £
Net obligations under finance lease and hire purchase contracts 92,094 69,747
9. Obligations Under Finance Leases and Hire Purchase
2024 2023
£ £
The future minimum finance lease payments are as follows:
Not later than one year 30,298 19,214
Later than one year and not later than five years 61,796 50,533
92,094 69,747
92,094 69,747
10. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 51 51
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