Acorah Software Products - Accounts Production 16.3.350 false true 30 June 2023 1 July 2022 false 1 July 2023 30 June 2024 30 June 2024 06861680 Mr Stephen Cockerham Mr Thomas Cockerham Mr Thomas Cockerham iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 06861680 2023-06-30 06861680 2024-06-30 06861680 2023-07-01 2024-06-30 06861680 frs-core:CurrentFinancialInstruments 2024-06-30 06861680 frs-core:ComputerEquipment 2024-06-30 06861680 frs-core:ComputerEquipment 2023-07-01 2024-06-30 06861680 frs-core:ComputerEquipment 2023-06-30 06861680 frs-core:MotorVehicles 2024-06-30 06861680 frs-core:MotorVehicles 2023-07-01 2024-06-30 06861680 frs-core:MotorVehicles 2023-06-30 06861680 frs-core:PlantMachinery 2024-06-30 06861680 frs-core:PlantMachinery 2023-07-01 2024-06-30 06861680 frs-core:PlantMachinery 2023-06-30 06861680 frs-core:ShareCapital 2024-06-30 06861680 frs-core:RetainedEarningsAccumulatedLosses 2024-06-30 06861680 frs-bus:PrivateLimitedCompanyLtd 2023-07-01 2024-06-30 06861680 frs-bus:FilletedAccounts 2023-07-01 2024-06-30 06861680 frs-bus:SmallEntities 2023-07-01 2024-06-30 06861680 frs-bus:AuditExempt-NoAccountantsReport 2023-07-01 2024-06-30 06861680 frs-bus:SmallCompaniesRegimeForAccounts 2023-07-01 2024-06-30 06861680 frs-bus:OrdinaryShareClass1 2023-07-01 2024-06-30 06861680 frs-bus:OrdinaryShareClass1 2024-06-30 06861680 frs-bus:OrdinaryShareClass2 2023-07-01 2024-06-30 06861680 frs-bus:OrdinaryShareClass2 2024-06-30 06861680 frs-bus:Director1 2023-07-01 2024-06-30 06861680 frs-bus:Director2 2023-07-01 2024-06-30 06861680 frs-bus:CompanySecretary1 2023-07-01 2024-06-30 06861680 frs-countries:EnglandWales 2023-07-01 2024-06-30 06861680 2022-06-30 06861680 2023-06-30 06861680 2022-07-01 2023-06-30 06861680 frs-core:CurrentFinancialInstruments 2023-06-30 06861680 frs-core:PlantMachinery 2022-07-01 2023-06-30 06861680 frs-core:WithinOneYear 2023-06-30 06861680 frs-core:ShareCapital 2023-06-30 06861680 frs-core:RetainedEarningsAccumulatedLosses 2023-06-30 06861680 frs-bus:OrdinaryShareClass1 2022-07-01 2023-06-30 06861680 frs-bus:OrdinaryShareClass2 2022-07-01 2023-06-30
Registered number: 06861680
Cockerham Commercials & Recovery Services Limited
Unaudited Financial Statements
For The Year Ended 30 June 2024
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—6
Page 1
Balance Sheet
Registered number: 06861680
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 344,904 203,748
344,904 203,748
CURRENT ASSETS
Stocks 15,072 13,572
Debtors 5 213,086 197,544
Cash at bank and in hand 190,267 200,114
418,425 411,230
Creditors: Amounts Falling Due Within One Year 6 (139,182 ) (174,719 )
NET CURRENT ASSETS (LIABILITIES) 279,243 236,511
TOTAL ASSETS LESS CURRENT LIABILITIES 624,147 440,259
PROVISIONS FOR LIABILITIES
Deferred Taxation (81,466 ) (49,409 )
NET ASSETS 542,681 390,850
CAPITAL AND RESERVES
Called up share capital 8 100 100
Profit and Loss Account 542,581 390,750
SHAREHOLDERS' FUNDS 542,681 390,850
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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 Thomas Cockerham
Director
16 April 2025
The notes on pages 3 to 6 form part of these financial statements.
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Notes to the Financial Statements
1. General Information
Cockerham Commercials & Recovery Services Limited Registered number 06861680 is a limited by shares company incorporated in England & Wales. The Registered Office is 138 High Street, Crediton, Devon, EX17 3DX.
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 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:
Plant & Machinery 20% reducing balance
Motor Vehicles 25% reducing balance
Computer Equipment 25% straight line
2.4. Leasing and Hire Purchase Contracts
Assets obtained under hire purchase contracts and 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. 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.
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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. Pensions
The company operates a defined pension contribution scheme. Contributions are charged to the profit and loss account as they become payable in accordance with the rules of the scheme.
2.9. Government Grant
Government grants are recognised in the profit and loss account 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 profit and loss account. Grants towards general activities of the entity over a specific period are recognised in the profit and loss account 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 profit and loss account over the useful life of the asset concerned.
All grants in the profit and loss account are recognised when all conditions for receipt have been complied with.
2.10. 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.
2.11. 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: 7 (2023: 7)
7 7
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4. Tangible Assets
Plant & Machinery Motor Vehicles Computer Equipment Total
£ £ £ £
Cost
As at 1 July 2023 129,636 455,398 1,749 586,783
Additions 7,200 193,925 - 201,125
Disposals (2,716 ) (42,250 ) - (44,966 )
As at 30 June 2024 134,120 607,073 1,749 742,942
Depreciation
As at 1 July 2023 86,818 294,799 1,418 383,035
Provided during the period 9,907 48,362 139 58,408
Disposals (2,231 ) (41,174 ) - (43,405 )
As at 30 June 2024 94,494 301,987 1,557 398,038
Net Book Value
As at 30 June 2024 39,626 305,086 192 344,904
As at 1 July 2023 42,818 160,599 331 203,748
Included above are assets held under hire purchase and finance leases with a net book value as follows:
2024 2023
£ £
Plant & Machinery - 9,829
5. Debtors
2024 2023
£ £
Due within one year
Trade debtors 197,301 195,414
Prepayments and accrued income 15,785 2,130
213,086 197,544
6. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Net obligations under finance lease and hire purchase contracts - 1,833
Trade creditors 56,945 61,202
Corporation tax 30,793 31,224
Other taxes and social security 3,591 3,087
VAT 12,146 35,107
Net wages 2,563 2,171
Other creditors 806 949
Accruals and deferred income 3,730 3,220
Directors' loan accounts 28,608 35,926
139,182 174,719
The hire purchase and finance lease creditors are secured on the assets to which they relate.
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7. Obligations Under Finance Leases and Hire Purchase
2024 2023
£ £
The future minimum finance lease payments are as follows:
Not later than one year - 1,833
8. Share Capital
2024 2023
Allotted, called up and fully paid £ £
50 Ordinary Shares of £ 1 each 50 50
50 Ordinary A shares of £ 1 each 50 50
100 100
9. Related Party Transactions
At the year end, 30 June 2024, the company owed the directors a total of £28,608 (2023: £35,926) in respect of loans held with the company. These amounts are interest free and repayable on demand.
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