Acorah Software Products - Accounts Production 16.3.350 false true 31 March 2024 1 April 2023 false 1 April 2024 31 March 2025 31 March 2025 06842010 Neil Carr iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 06842010 2024-03-31 06842010 2025-03-31 06842010 2024-04-01 2025-03-31 06842010 frs-core:CurrentFinancialInstruments 2025-03-31 06842010 frs-core:Non-currentFinancialInstruments 2025-03-31 06842010 frs-core:ComputerEquipment 2025-03-31 06842010 frs-core:ComputerEquipment 2024-04-01 2025-03-31 06842010 frs-core:ComputerEquipment 2024-03-31 06842010 frs-core:MotorVehicles 2025-03-31 06842010 frs-core:MotorVehicles 2024-04-01 2025-03-31 06842010 frs-core:MotorVehicles 2024-03-31 06842010 frs-core:PlantMachinery 2025-03-31 06842010 frs-core:PlantMachinery 2024-04-01 2025-03-31 06842010 frs-core:PlantMachinery 2024-03-31 06842010 frs-core:ShareCapital 2025-03-31 06842010 frs-core:RetainedEarningsAccumulatedLosses 2025-03-31 06842010 frs-bus:PrivateLimitedCompanyLtd 2024-04-01 2025-03-31 06842010 frs-bus:FilletedAccounts 2024-04-01 2025-03-31 06842010 frs-bus:SmallEntities 2024-04-01 2025-03-31 06842010 frs-bus:AuditExempt-NoAccountantsReport 2024-04-01 2025-03-31 06842010 frs-bus:SmallCompaniesRegimeForAccounts 2024-04-01 2025-03-31 06842010 frs-bus:Director1 2024-04-01 2025-03-31 06842010 frs-core:CurrentFinancialInstruments 1 2025-03-31 06842010 frs-countries:EnglandWales 2024-04-01 2025-03-31 06842010 2023-03-31 06842010 2024-03-31 06842010 2023-04-01 2024-03-31 06842010 frs-core:CurrentFinancialInstruments 2024-03-31 06842010 frs-core:Non-currentFinancialInstruments 2024-03-31 06842010 frs-core:ShareCapital 2024-03-31 06842010 frs-core:RetainedEarningsAccumulatedLosses 2024-03-31 06842010 frs-core:CurrentFinancialInstruments 1 2024-03-31
Registered number: 06842010
Corona Contracts Ltd
Unaudited Financial Statements
For The Year Ended 31 March 2025
Master of Coin Ltd
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 06842010
2025 2024
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 55,346 78,520
55,346 78,520
CURRENT ASSETS
Stocks 5 34,849 29,914
Debtors 6 107,666 144,068
Cash at bank and in hand 83,056 125,210
225,571 299,192
Creditors: Amounts Falling Due Within One Year 7 (79,244 ) (102,537 )
NET CURRENT ASSETS (LIABILITIES) 146,327 196,655
TOTAL ASSETS LESS CURRENT LIABILITIES 201,673 275,175
Creditors: Amounts Falling Due After More Than One Year 8 (1,667 ) (11,667 )
NET ASSETS 200,006 263,508
CAPITAL AND RESERVES
Called up share capital 9 100 100
Profit and Loss Account 199,906 263,408
SHAREHOLDERS' FUNDS 200,006 263,508
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For the year ending 31 March 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his 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
Neil Carr
Director
11th June 2025
The notes on pages 3 to 5 form part of these financial statements.
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Page 3
Notes to the Financial Statements
1. General Information
Corona Contracts Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 06842010 . The registered office is Unit 4a Hillthorpe Farm, Knoll Lane, Little Hoole, Preston, PR4 4TB.
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 25% Reducing Balance
Computer Equipment 20% Reducing Balance
2.4. 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.
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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.
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 and deferred tax are recognised in profit or loss for the year, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case current and deferred tax are 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: 11 (2024: 9)
11 9
4. Tangible Assets
Plant & Machinery Motor Vehicles Computer Equipment Total
£ £ £ £
Cost
As at 1 April 2024 20,325 114,774 10,515 145,614
Additions 340 - 1,949 2,289
Disposals - (24,833 ) - (24,833 )
As at 31 March 2025 20,665 89,941 12,464 123,070
Depreciation
As at 1 April 2024 14,586 46,663 5,845 67,094
Provided during the period 1,215 15,066 1,324 17,605
Disposals - (16,975 ) - (16,975 )
As at 31 March 2025 15,801 44,754 7,169 67,724
Net Book Value
As at 31 March 2025 4,864 45,187 5,295 55,346
As at 1 April 2024 5,739 68,111 4,670 78,520
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5. Stocks
2025 2024
£ £
Stock 34,849 29,914
6. Debtors
2025 2024
£ £
Due within one year
Trade debtors 101,086 135,990
Prepayments and accrued income 1,541 7,373
Other debtor - 705
Corporation tax recoverable assets 5,039 -
107,666 144,068
7. Creditors: Amounts Falling Due Within One Year
2025 2024
£ £
Trade creditors 24,120 22,282
Bank loans and overdrafts 10,000 10,000
Corporation tax - 14,749
Other taxes and social security 6,603 5,720
VAT 22,460 34,247
Pension Control Account 1,407 1,393
Accruals and deferred income 1,650 1,500
Director's loan account 13,004 12,646
79,244 102,537
8. Creditors: Amounts Falling Due After More Than One Year
2025 2024
£ £
Bank loans 1,667 11,667
9. Share Capital
2025 2024
£ £
Allotted, Called up and fully paid 100 100
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