Acorah Software Products - Accounts Production 16.3.350 false true 31 October 2023 1 November 2022 false 1 November 2023 31 October 2024 31 October 2024 04823673 Mr Andrew Steer Mr James Steer Mr Peter Steer Ms Linda Steer iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 04823673 2023-10-31 04823673 2024-10-31 04823673 2023-11-01 2024-10-31 04823673 frs-core:CurrentFinancialInstruments 2024-10-31 04823673 frs-core:NetGoodwill 2024-10-31 04823673 frs-core:NetGoodwill 2023-11-01 2024-10-31 04823673 frs-core:NetGoodwill 2023-10-31 04823673 frs-core:MotorVehicles 2024-10-31 04823673 frs-core:MotorVehicles 2023-11-01 2024-10-31 04823673 frs-core:MotorVehicles 2023-10-31 04823673 frs-core:PlantMachinery 2024-10-31 04823673 frs-core:PlantMachinery 2023-11-01 2024-10-31 04823673 frs-core:PlantMachinery 2023-10-31 04823673 frs-core:ShareCapital 2024-10-31 04823673 frs-core:RetainedEarningsAccumulatedLosses 2024-10-31 04823673 frs-bus:PrivateLimitedCompanyLtd 2023-11-01 2024-10-31 04823673 frs-bus:FilletedAccounts 2023-11-01 2024-10-31 04823673 frs-bus:SmallEntities 2023-11-01 2024-10-31 04823673 frs-bus:AuditExempt-NoAccountantsReport 2023-11-01 2024-10-31 04823673 frs-bus:SmallCompaniesRegimeForAccounts 2023-11-01 2024-10-31 04823673 frs-bus:Director1 2023-11-01 2024-10-31 04823673 frs-bus:Director2 2023-11-01 2024-10-31 04823673 frs-bus:Director3 2023-11-01 2024-10-31 04823673 frs-bus:CompanySecretary1 2023-11-01 2024-10-31 04823673 1 2023-11-01 2024-10-31 04823673 frs-countries:EnglandWales 2023-11-01 2024-10-31 04823673 2022-10-31 04823673 2023-10-31 04823673 2022-11-01 2023-10-31 04823673 frs-core:CurrentFinancialInstruments 2023-10-31 04823673 frs-core:ShareCapital 2023-10-31 04823673 frs-core:RetainedEarningsAccumulatedLosses 2023-10-31 04823673 1 2022-11-01 2023-10-31
Registered number: 04823673
C J Steer And Son Limited
Unaudited Financial Statements
For The Year Ended 31 October 2024
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—6
Page 1
Balance Sheet
Registered number: 04823673
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 5 4,108 5,414
4,108 5,414
CURRENT ASSETS
Stocks 6 2,500 12,600
Debtors 7 30,033 26,251
Cash at bank and in hand 15,842 336
48,375 39,187
Creditors: Amounts Falling Due Within One Year 8 (25,597 ) (27,624 )
NET CURRENT ASSETS (LIABILITIES) 22,778 11,563
TOTAL ASSETS LESS CURRENT LIABILITIES 26,886 16,977
PROVISIONS FOR LIABILITIES
Deferred Taxation (781 ) (1,029 )
NET ASSETS 26,105 15,948
CAPITAL AND RESERVES
Called up share capital 9 4 4
Profit and Loss Account 26,101 15,944
SHAREHOLDERS' FUNDS 26,105 15,948
Page 1
Page 2
For the year ending 31 October 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 James Steer
Director
30 April 2025
The notes on pages 3 to 6 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
C J Steer and Son Ltd is a private company, limited by shares, incorporated in England and Wales, registered number 04823673. The registered office is 138 High Street, Crediton, Devon, EX17 3DX. The principal place of business is Homefield, Station Road, Bow, Crediton, Devon, EX17 6HU.
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 - Goodwill
Goodwill is the difference between amounts paid on the acquisition of a business and the fair value of the separable net assets. It is amortised to profit and loss account over its estimated economic life of 10 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 15% reducing balance
Motor Vehicles 25% reducing balance
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. Financial Instruments
Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at the market rate of interest for a similar debt instrument. Debt instruments are subsequently measured at amortised cost.
Page 3
Page 4
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.
2.8. Impairment
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.
2.9. Registrar Filing Requirements
The company has taken advantage of Companies Act 2006 section 444(1) and opted not to file the profit and loss account, directors report, and notes to the financial statements relating to the profit and loss account.
3. Average Number of Employees
Average number of employees, including directors, during the year was:
2024 2023
All Stafff 4 3
4 3
4. Intangible Assets
Goodwill
£
Cost
As at 1 November 2023 25,000
As at 31 October 2024 25,000
Amortisation
As at 1 November 2023 25,000
As at 31 October 2024 25,000
Net Book Value
As at 31 October 2024 -
As at 1 November 2023 -
Page 4
Page 5
5. Tangible Assets
Plant & Machinery Motor Vehicles Total
£ £ £
Cost
As at 1 November 2023 4,802 16,490 21,292
As at 31 October 2024 4,802 16,490 21,292
Depreciation
As at 1 November 2023 4,317 11,561 15,878
Provided during the period 73 1,233 1,306
As at 31 October 2024 4,390 12,794 17,184
Net Book Value
As at 31 October 2024 412 3,696 4,108
As at 1 November 2023 485 4,929 5,414
6. Stocks
2024 2023
£ £
Materials 2,500 2,700
Work in progress - 9,900
2,500 12,600
7. Debtors
2024 2023
£ £
Due within one year
Trade debtors 29,792 25,838
Prepayments and accrued income 226 398
Other taxes and social security 15 15
30,033 26,251
8. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 10,641 5,550
Bank loans and overdrafts - 4,375
Corporation tax 5,610 6,404
VAT 7,375 3,623
Accruals and deferred income 1,600 1,500
Directors' loan accounts 371 6,172
25,597 27,624
Page 5
Page 6
9. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 4 4
10. Related Party Transactions
At the year end, 31 October 2024, the company owed the directors £371 (2023: £6,172) in respect of loans held with the company. These amounts are interest free and repayable on demand.
Page 6