Acorah Software Products - Accounts Production 16.5.460 false true 31 December 2023 1 January 2023 false 1 January 2024 31 December 2024 31 December 2024 06599321 Mr Grant Moore Mrs Joanne Moore Mrs Jacqueline Southern Mrs Joanne Moore iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 06599321 2023-12-31 06599321 2024-12-31 06599321 2024-01-01 2024-12-31 06599321 frs-core:CurrentFinancialInstruments 2024-12-31 06599321 frs-core:Non-currentFinancialInstruments 2024-12-31 06599321 frs-core:BetweenOneFiveYears 2024-12-31 06599321 frs-core:ComputerEquipment 2024-12-31 06599321 frs-core:ComputerEquipment 2024-01-01 2024-12-31 06599321 frs-core:ComputerEquipment 2023-12-31 06599321 frs-core:FurnitureFittings 2024-12-31 06599321 frs-core:FurnitureFittings 2024-01-01 2024-12-31 06599321 frs-core:FurnitureFittings 2023-12-31 06599321 frs-core:LandBuildings frs-core:LeasedAssetsHeldAsLessee 2024-12-31 06599321 frs-core:LandBuildings frs-core:LeasedAssetsHeldAsLessee 2024-01-01 2024-12-31 06599321 frs-core:LandBuildings frs-core:LeasedAssetsHeldAsLessee 2023-12-31 06599321 frs-core:MotorVehicles 2024-12-31 06599321 frs-core:MotorVehicles 2024-01-01 2024-12-31 06599321 frs-core:MotorVehicles 2023-12-31 06599321 frs-core:PlantMachinery 2024-12-31 06599321 frs-core:PlantMachinery 2024-01-01 2024-12-31 06599321 frs-core:PlantMachinery 2023-12-31 06599321 frs-core:WithinOneYear 2024-12-31 06599321 frs-core:RevaluationReserve 2023-12-31 06599321 frs-core:RevaluationReserve 2024-12-31 06599321 frs-core:ShareCapital 2024-12-31 06599321 frs-core:RetainedEarningsAccumulatedLosses 2024-12-31 06599321 frs-bus:PrivateLimitedCompanyLtd 2024-01-01 2024-12-31 06599321 frs-bus:FilletedAccounts 2024-01-01 2024-12-31 06599321 frs-bus:SmallEntities 2024-01-01 2024-12-31 06599321 frs-bus:AuditExempt-NoAccountantsReport 2024-01-01 2024-12-31 06599321 frs-bus:SmallCompaniesRegimeForAccounts 2024-01-01 2024-12-31 06599321 frs-bus:Director1 2024-01-01 2024-12-31 06599321 frs-bus:Director2 2024-01-01 2024-12-31 06599321 frs-bus:Director3 2024-01-01 2024-12-31 06599321 frs-bus:Director3 2023-12-31 06599321 frs-bus:Director3 2024-12-31 06599321 frs-bus:CompanySecretary1 2024-01-01 2024-12-31 06599321 frs-core:CurrentFinancialInstruments 1 2024-12-31 06599321 frs-countries:EnglandWales 2024-01-01 2024-12-31 06599321 2022-12-31 06599321 2023-12-31 06599321 2023-01-01 2023-12-31 06599321 frs-core:CurrentFinancialInstruments 2023-12-31 06599321 frs-core:Non-currentFinancialInstruments 2023-12-31 06599321 frs-core:BetweenOneFiveYears 2023-12-31 06599321 frs-core:WithinOneYear 2023-12-31 06599321 frs-core:RevaluationReserve 2023-12-31 06599321 frs-core:ShareCapital 2023-12-31 06599321 frs-core:RetainedEarningsAccumulatedLosses 2023-12-31 06599321 frs-core:CurrentFinancialInstruments 1 2023-12-31
Registered number: 06599321
CSM Steelstock Ltd
Unaudited Financial Statements
For The Year Ended 31 December 2024
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—7
Page 1
Balance Sheet
Registered number: 06599321
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 3,161,780 3,257,308
3,161,780 3,257,308
CURRENT ASSETS
Stocks 5 236,816 497,897
Debtors 6 1,167,949 1,358,803
Cash at bank and in hand 134 -
1,404,899 1,856,700
Creditors: Amounts Falling Due Within One Year 7 (2,318,853 ) (2,541,204 )
NET CURRENT ASSETS (LIABILITIES) (913,954 ) (684,504 )
TOTAL ASSETS LESS CURRENT LIABILITIES 2,247,826 2,572,804
Creditors: Amounts Falling Due After More Than One Year 8 (1,088,473 ) (1,374,163 )
PROVISIONS FOR LIABILITIES
Deferred Taxation (133,271 ) (140,468 )
NET ASSETS 1,026,082 1,058,173
CAPITAL AND RESERVES
Called up share capital 10 1,000 1,000
Revaluation reserve 12 213,648 213,648
Profit and Loss Account 811,434 843,525
SHAREHOLDERS' FUNDS 1,026,082 1,058,173
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For the year ending 31 December 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 Grant Moore
Director
17/09/2025
The notes on pages 3 to 7 form part of these financial statements.
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Page 3
Notes to the Financial Statements
1. General Information
CSM Steelstock Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 06599321 . The registered office is Unit 1a Newhouse Road, Huncoat Industrial Estate, Accrington, BB5 6NT.
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 or valuation 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:
Leasehold 2% straight line
Plant & Machinery 15% reducing balance
Motor Vehicles 25% reducing balance
Fixtures & Fittings 15% reducing balance
Computer Equipment 15% 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 the 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.
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2.6. 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.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 16 (2023: 21)
16 21
4. Tangible Assets
Land & Property
Leasehold Plant & Machinery Motor Vehicles Fixtures & Fittings
£ £ £ £
Cost or Valuation
As at 1 January 2024 1,841,873 1,452,977 272,654 306,088
Additions - 10,364 61,902 8,268
Disposals - (45,105 ) (29,371 ) -
As at 31 December 2024 1,841,873 1,418,236 305,185 314,356
Depreciation
As at 1 January 2024 141,873 268,022 142,407 89,585
Provided during the period - 174,681 39,088 33,209
Reversal of past impairment - (92,415 ) (8,045 ) (9,722 )
Disposals - (17,809 ) (20,333 ) -
As at 31 December 2024 141,873 332,479 153,117 113,072
Net Book Value
As at 31 December 2024 1,700,000 1,085,757 152,068 201,284
As at 1 January 2024 1,700,000 1,184,955 130,247 216,503
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Computer Equipment Total
£ £
Cost or Valuation
As at 1 January 2024 52,899 3,926,491
Additions 1,021 81,555
Disposals - (74,476 )
As at 31 December 2024 53,920 3,933,570
Depreciation
As at 1 January 2024 27,296 669,183
Provided during the period 3,953 250,931
Reversal of past impairment - (110,182 )
Disposals - (38,142 )
As at 31 December 2024 31,249 771,790
Net Book Value
As at 31 December 2024 22,671 3,161,780
As at 1 January 2024 25,603 3,257,308
Cost or valuation as at 31 December 2024 represented by:
Land & Property
Leasehold Plant & Machinery Motor Vehicles Fixtures & Fittings
£ £ £ £
At cost - 1,418,236 305,185 314,356
At valuation 1,841,873 - - -
1,841,873 1,418,236 305,185 314,356
Computer Equipment Total
£ £
At cost 53,920 2,091,697
At valuation - 1,841,873
53,920 3,933,570
The most recent land and buildings revaluation was undertaken on 31st December 2023 by Lea Hough Chartered Surveyors, a member of the Royal Institute of Chartered Surveyors. In the opinion of the directors, the valuation is considered to fairly reflect the value of the land and buildings as at 31st December 2024.
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If the following tangible fixed assets had been accounted for under historical cost accounting rules, the amounts would be:
Land & Property
Leasehold
£
Cost 1,567,965
Accumulated depreciation and impairment 149,718
Carrying amount 1,418,247
5. Stocks
2024 2023
£ £
Materials 236,816 497,897
6. Debtors
2024 2023
£ £
Due within one year
Trade debtors 1,133,482 1,317,630
Prepayments and accrued income 23,051 12,799
Other debtors 10,302 542
Corporation tax recoverable assets 574 27,832
Directors' loan accounts 540 -
1,167,949 1,358,803
7. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Net obligations under finance lease and hire purchase contracts 239,313 236,579
Trade creditors 967,443 1,291,030
Bank loans and overdrafts 431,124 227,764
Corporation tax - 32,924
Other taxes and social security 21,662 11,911
VAT 66,210 48,437
Other creditors 553,905 632,541
Other creditors (1) 421 1,845
Accruals and deferred income 15,149 8,414
Directors' loan accounts 23,626 49,759
2,318,853 2,541,204
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8. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Net obligations under finance lease and hire purchase contracts 520,918 714,948
Bank loans 567,555 659,215
1,088,473 1,374,163
9. Obligations Under Finance Leases and Hire Purchase
2024 2023
£ £
The future minimum finance lease payments are as follows:
Not later than one year 239,313 236,579
Later than one year and not later than five years 520,918 714,948
760,231 951,527
760,231 951,527
10. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 1,000 1,000
11. Directors Advances, Credits and Guarantees
Included within Debtors are the following loans to directors:
As at 1 January 2024 Amounts advanced Amounts repaid Amounts written off As at 31 December 2024
£ £ £ £ £
Mrs Jacqueline Southern - 540 - - 540
The above loan is unsecured, interest free and repayable on demand.
12. Reserves
Revaluation Reserve
£
As at 1 January 2024 213,648
As at 31 December 2024 213,648
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