Acorah Software Products - Accounts Production 16.4.660 false true 31 December 2023 1 January 2023 false 1 January 2024 31 December 2024 31 December 2024 06984313 Mr Tom Macer-Wright Mrs Nadia Macer-Wright Cornish Gems Holdings Ltd true iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 06984313 2023-12-31 06984313 2024-12-31 06984313 2024-01-01 2024-12-31 06984313 frs-core:CurrentFinancialInstruments 2024-12-31 06984313 frs-core:Non-currentFinancialInstruments 2024-12-31 06984313 frs-core:ComputerEquipment 2024-12-31 06984313 frs-core:ComputerEquipment 2024-01-01 2024-12-31 06984313 frs-core:ComputerEquipment 2023-12-31 06984313 frs-core:DevelopmentCostsCapitalisedDevelopmentExpenditure 2024-01-01 2024-12-31 06984313 frs-core:FurnitureFittings 2024-12-31 06984313 frs-core:FurnitureFittings 2024-01-01 2024-12-31 06984313 frs-core:FurnitureFittings 2023-12-31 06984313 frs-core:NetGoodwill 2024-12-31 06984313 frs-core:NetGoodwill 2024-01-01 2024-12-31 06984313 frs-core:NetGoodwill 2023-12-31 06984313 frs-core:LandBuildings frs-core:LeasedAssetsHeldAsLessee 2024-12-31 06984313 frs-core:LandBuildings frs-core:LeasedAssetsHeldAsLessee 2024-01-01 2024-12-31 06984313 frs-core:LandBuildings frs-core:LeasedAssetsHeldAsLessee 2023-12-31 06984313 frs-core:MotorVehicles 2024-12-31 06984313 frs-core:MotorVehicles 2024-01-01 2024-12-31 06984313 frs-core:MotorVehicles 2023-12-31 06984313 frs-core:OtherResidualIntangibleAssets 2024-12-31 06984313 frs-core:OtherResidualIntangibleAssets 2024-01-01 2024-12-31 06984313 frs-core:OtherResidualIntangibleAssets 2023-12-31 06984313 frs-core:PlantMachinery 2024-12-31 06984313 frs-core:PlantMachinery 2024-01-01 2024-12-31 06984313 frs-core:PlantMachinery 2023-12-31 06984313 frs-core:ShareCapital 2024-12-31 06984313 frs-core:RetainedEarningsAccumulatedLosses 2024-12-31 06984313 frs-bus:PrivateLimitedCompanyLtd 2024-01-01 2024-12-31 06984313 frs-bus:FilletedAccounts 2024-01-01 2024-12-31 06984313 frs-bus:SmallEntities 2024-01-01 2024-12-31 06984313 frs-bus:AuditExempt-NoAccountantsReport 2024-01-01 2024-12-31 06984313 frs-bus:SmallCompaniesRegimeForAccounts 2024-01-01 2024-12-31 06984313 1 2024-01-01 2024-12-31 06984313 frs-core:UnlistedNon-exchangeTraded 2024-12-31 06984313 frs-core:UnlistedNon-exchangeTraded 2023-12-31 06984313 frs-core:CostValuation frs-core:UnlistedNon-exchangeTraded 2023-12-31 06984313 frs-core:CostValuation frs-core:UnlistedNon-exchangeTraded 2024-12-31 06984313 frs-core:ProvisionsForImpairmentInvestments frs-core:UnlistedNon-exchangeTraded 2023-12-31 06984313 frs-core:ProvisionsForImpairmentInvestments frs-core:UnlistedNon-exchangeTraded 2024-12-31 06984313 frs-bus:Director1 2024-01-01 2024-12-31 06984313 frs-bus:Director1 2023-12-31 06984313 frs-bus:Director1 2024-12-31 06984313 frs-bus:Director2 2024-01-01 2024-12-31 06984313 frs-bus:Director2 2023-12-31 06984313 frs-bus:Director2 2024-12-31 06984313 frs-countries:EnglandWales 2024-01-01 2024-12-31 06984313 2022-12-31 06984313 2023-12-31 06984313 2023-01-01 2023-12-31 06984313 frs-core:CurrentFinancialInstruments 2023-12-31 06984313 frs-core:Non-currentFinancialInstruments 2023-12-31 06984313 frs-core:ShareCapital 2023-12-31 06984313 frs-core:RetainedEarningsAccumulatedLosses 2023-12-31
Registered number: 06984313
Cornish Gems Limited
Unaudited Financial Statements
For The Year Ended 31 December 2024
Whyfield Limited
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—7
Page 1
Balance Sheet
Registered number: 06984313
2024 2023
Notes £ £ £ £
FIXED ASSETS
Intangible Assets 4 40,015 58,441
Tangible Assets 5 56,593 98,112
Investments 6 22,622 22,622
119,230 179,175
CURRENT ASSETS
Stocks 7 4,904 17,116
Debtors 8 2,341,994 3,183,450
Cash at bank and in hand 521,788 782,057
2,868,686 3,982,623
Creditors: Amounts Falling Due Within One Year 9 (1,257,386 ) (1,441,919 )
NET CURRENT ASSETS (LIABILITIES) 1,611,300 2,540,704
TOTAL ASSETS LESS CURRENT LIABILITIES 1,730,530 2,719,879
Creditors: Amounts Falling Due After More Than One Year 10 (700,000 ) (1,000,000 )
PROVISIONS FOR LIABILITIES
Deferred Taxation (14,113 ) (7,745 )
NET ASSETS 1,016,417 1,712,134
CAPITAL AND RESERVES
Called up share capital 12 100 100
Profit and Loss Account 1,016,317 1,712,034
SHAREHOLDERS' FUNDS 1,016,417 1,712,134
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Page 2
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
Mrs Nadia Macer-Wright
Director
29/09/2025
The notes on pages 3 to 7 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Cornish Gems Limited is a private company, limited by shares, incorporated in England & Wales, registered number 06984313 . The registered office is Carne House, Threemilestone, Truro, TR4 9LD.
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 from the rendering of services. Turnover is reduced for estimated customer rebates and other similar allowances.
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 the profit and loss account over its estimated economic life of ten years.
2.4. Intangible Fixed Assets and Amortisation - Other Intangible
Other intangible assets are Development Costs that is amortised to the profit and loss account over its estimated economic life of 10 year.
2.5. 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:
Leasehold 8% Straight Line
Plant & Machinery 25% Straight line
Motor Vehicles 15% Reducing Balance
Fixtures & Fittings 25% Straight line
Computer Equipment 25% Straight line
2.6. 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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2.7. 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 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: 94 (2023: 106)
94 106
4. Intangible Assets
Goodwill Other Total
£ £ £
Cost
As at 1 January 2024 168,000 36,266 204,266
As at 31 December 2024 168,000 36,266 204,266
Amortisation
As at 1 January 2024 139,633 6,192 145,825
Provided during the period 14,800 3,626 18,426
As at 31 December 2024 154,433 9,818 164,251
Net Book Value
As at 31 December 2024 13,567 26,448 40,015
As at 1 January 2024 28,367 30,074 58,441
5. Tangible Assets
Land & Property
Leasehold Plant & Machinery Motor Vehicles Fixtures & Fittings
£ £ £ £
Cost
As at 1 January 2024 3,527 171,188 255,534 70,721
Additions - 3,132 - 245
Disposals - (112,675 ) (161,947 ) -
As at 31 December 2024 3,527 61,645 93,587 70,966
...CONTINUED
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Page 5
Depreciation
As at 1 January 2024 2,377 145,512 194,487 60,482
Provided during the period 282 12,165 6,479 3,534
Disposals - (111,993 ) (139,204 ) -
As at 31 December 2024 2,659 45,684 61,762 64,016
Net Book Value
As at 31 December 2024 868 15,961 31,825 6,950
As at 1 January 2024 1,150 25,676 61,047 10,239
Computer Equipment Total
£ £
Cost
As at 1 January 2024 - 500,970
Additions 1,249 4,626
Disposals - (274,622 )
As at 31 December 2024 1,249 230,974
Depreciation
As at 1 January 2024 - 402,858
Provided during the period 260 22,720
Disposals - (251,197 )
As at 31 December 2024 260 174,381
Net Book Value
As at 31 December 2024 989 56,593
As at 1 January 2024 - 98,112
6. Investments
Unlisted
£
Cost or Valuation
As at 1 January 2024 22,622
As at 31 December 2024 22,622
Provision
As at 1 January 2024 -
As at 31 December 2024 -
Net Book Value
As at 31 December 2024 22,622
As at 1 January 2024 22,622
7. Stocks
2024 2023
£ £
Stock 4,904 17,116
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8. Debtors
2024 2023
£ £
Due within one year
Trade debtors - 162,317
Other debtors 90,024 256,685
90,024 419,002
Due after more than one year
Amounts owed by group undertakings 2,251,970 2,764,448
2,341,994 3,183,450
9. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 42,320 511,336
Bank loans and overdrafts 300,000 300,000
Other creditors 677,341 346,617
Taxation and social security 237,725 283,966
1,257,386 1,441,919
10. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Bank loans 700,000 1,000,000
11. Secured Creditors
Of the creditors the following amounts are secured.
2024 2023
£ £
Bank loans and overdrafts 1,000,000 1,300,000
12. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 100 100
13. 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
£ £ £ £ £
Mr Tom Macer-Wright (3,700 ) 128,102 122,312 - 2,090
Mrs Nadia Macer-Wright 172,992 65,968 185,062 - 53,899
The above loan is unsecured, interest of 4% has been charged on Nadia's end of period balance.
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14. Ultimate Controlling Party
The company's ultimate controlling party is Cornish Gems Holdings Ltd  by virtue of ownership with 100% of the issued share capital in the company.
In the balance sheet there is £2,251,970 owed to the company by Cornish Gems Holdings Ltd.
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