Corrus Limited - Filleted accounts


CORRUS LIMITED

UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED
31 MARCH 2025



































Company Registration Number: 03949700

CORRUS LIMITED

UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025


CONTENTS									PAGES



Company information									1

Balance sheet									2 to 3

Notes to the financial statements									4 to 11

CORRUS LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2025


DIRECTORS

R P Kremer
S P Gosney
W Hillier
G Gosney
T P Cummuskey
appointed 24 April 2024


SECRETARY

S P Gosney


REGISTERED OFFICE

Units B1-B3 Argents Mere
Cyril Vokins Road
Hambridge Lane
Newbury
Berkshire
RG14 5XB


COMPANY REGISTRATION NUMBER

03949700 England and Wales

CORRUS LIMITED

BALANCE SHEET
AS AT 31 MARCH 2025


	Notes	2025		2024
		£		£

FIXED ASSETS
Intangible assets	5		7,987		12,153
Tangible assets	6		351,648		249,414


			359,635		261,567

CURRENT ASSETS
Stock		150,453		106,054
Debtors	7	624,949		1,268,283
Cash at bank and in hand		2,852,877		2,812,042


		3,628,279		4,186,379

CREDITORS: Amounts falling due within one year	8	2,372,846		2,363,118
CREDITORS: Amounts falling due within one year


NET CURRENT ASSETS			1,255,433		1,823,261


TOTAL ASSETS LESS CURRENT LIABILITIES			1,615,068		2,084,828

Provisions for liabilities and charges			52,801		23,839


NET ASSETS			1,562,267		2,060,989


CAPITAL AND RESERVES
Called up share capital			300,200		300,200
Distributable profit and loss account			1,262,067		1,760,789


SHAREHOLDERS' FUNDS			1,562,267		2,060,989

CORRUS LIMITED

BALANCE SHEET
AS AT 31 MARCH 2025


These accounts have been prepared and delivered in accordance with the special provisions relating to small companies within Part 15 of the Companies Act 2006 and in accordance with the provisions of FRS 102 Section 1A - small entities.

For the financial year ended 31 March 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006.

Members have not required the company to obtain an audit in accordance with section 476 of the Act.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.

As permitted by S444 (5A) of the Companies Act 2006 the directors have not delivered to the Registrar a copy of the company’s Profit and Loss Account or Directors Report.


Signed on behalf of the board of directors




S P Gosney
Director

Date approved by the board: 8 December 2025

CORRUS LIMITED

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025


1	GENERAL INFORMATION

	Corrus Limited is a private company limited by shares and incorporated in England and Wales. Its registered office is:

	Units B1-B3 Argents Mere
	Cyril Vokins Road
	Hambridge Lane
	Newbury
	Berkshire
	RG14 5XB

	The financial statements are presented in Sterling, which is the functional currency of the company.

2	SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

	Basis of preparation of financial statements

	These financial statements have been prepared in accordance with applicable United Kingdom accounting standards, including Financial Reporting Standard 102 Section 1A smaller entities 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' ('FRS 102') and the Companies Act 2006.

	Revenue recognition

	Turnover is measured at the fair value of consideration received or receivable. It is recognised in respect of the supply of signs and services as soon as there is a right to consideration and is determined by reference to the value of the work performed. Turnover is stated net of trade discounts and value added tax.

	The company recognises revenue when the amount of revenue can be measured reliably and when it is probable that future economic benefits will flow to the entity.


	Intangible fixed assets

Goodwill arises on business acquisitions and represents the excess of the cost of the acquisition over the company's interest in the net amount of the identifiable assets, liabilities and contingent liabilities of the acquired business. At acquisition, goodwill is measured at cost less accumulated amortisation and accumulated impairment losses.

	Goodwill amortisation is charged on a straight line basis so as to write off the cost of the asset, less its residual value assumed to be zero, over its useful economic life, which is estimated to be 3 years.

	If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new expectations.

CORRUS LIMITED

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025


2	SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (continued…)

	Tangible fixed assets

	Fixed assets are carried at cost less accumulated depreciation and accumulated impairment losses.

	Depreciation has been provided at the following rates so as to write off the cost or valuation of assets less residual value of the assets over their estimated useful lives.

	Plant and machinery					Reducing balance basis at 25% per annum
	Motor vehicles					Reducing balance basis at 25% per annum
	Furniture and fittings					Reducing balance basis at 25% per annum

	On disposal, the difference between the net disposal proceeds and the carrying amount of the item sold is recognised in the profit and loss account, and included within administrative expenses.

	Financial Instruments

	The company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other accounts receivable and payable, loans from banks and other third parties, loans to related parties and investments in non-puttable ordinary shares.


	Financial assets are measured at cost and are assessed at the end of each reporting period for objective evidence of impairment. Where objective evidence of impairment is found, an impairment loss is recognised in the profit and loss account.

The impairment loss for financial assets measured at cost is measured as the difference between an asset's carrying amount and the best estimate, which is an approximation, of the amount that the company would receive for the asset if it were to be sold at the reporting date.


	Financial assets and liabilities are offset and the net amount reported in the balance sheet when there is an enforceable right to set off the recognised amount and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

CORRUS LIMITED

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025


2	SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (continued…)

	Impairment of non-financial assets

	At each reporting date non-financial assets not carried at fair value, like goodwill and plant, property and equipment, are reviewed to determine whether there is an indication that an asset may be impaired. If there is an indication of possible impairment, the recoverable amount of any asset or group of related assets (which is the higher of value in use and the fair value less cost to sell) is estimated and compared with its carrying amount. If the recoverable amount is lower, the carrying amount of the asset is reduced to its recoverable amount and an impairment loss is recognised immediately in the profit and loss account.

	Stocks are assessed for impairment at each reporting date. The carrying amount of each item of stock, or group of similar items, is compared with its selling price less cost to complete and sell. If an item of stock, or group of similar items, is impaired its carrying amount is reduced to selling price less costs to complete and sell, and an impairment loss is recognised immediately in the profit and loss account.

	If an impairment loss is subsequently reversed, the carrying amount of the asset, or group of related assets, is increased to the revised estimate of its recoverable amount, but not to exceed the amount that would have been determined had no impairment loss been recognised for the asset, or group of related assets, in prior periods. A reversal of an impairment loss is recognised immediately in the profit and loss account.


	Stock

Stocks and work in progress are stated at the lower of cost and net realisable value. Cost of raw materials is determined on a first in first out basis, and includes all direct costs incurred. Cost of finished goods and work in progress is calculated on the basis of selling price less an allowance for mark up. Net realisable value is based on estimated selling price allowing for all further costs of completion and disposal.


	Debtors

	Short term debtors are measured at transaction price, less any impairment.

	Creditors

	Short term trade creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and subsequently at amortised cost.

	Leases

	Leases are classified as finance leases when they transfer substantially all the risks and rewards of ownership of the leased assets to the company. Other leases that do not transfer substantially all the risks and rewards of ownership of the leased assets to the company are classified as operating leases.

	Payments applicable to operating leases are charged against profit on a straight line basis over the lease term.

CORRUS LIMITED

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025


2	SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (continued…)

	Taxation

	Taxation expense represents the aggregate amount of current tax and deferred tax recognised in the reporting period.

	A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods based on current tax rates and laws. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period.

	Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other taxable profits.

	Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

	Current and deferred tax assets and liabilities are not discounted.

	Pensions

	The company operates a defined contribution pension scheme. The amount charged to the profit and loss account in respect of pension costs and other post-retirement benefits is the amount payable in the year. Differences between contributions payable and contributions actually paid in the year are shown as either accruals or prepayments in the balance sheet.

3	CRITICAL ACCOUNTING ESTIMATES AND JUDGEMENTS

In preparing these statements, the directors have had to make the following judgements:


	Amounts invoiced in advance are included within deferred income to the extent that performance obligations have not been met at the balance sheet date. The directors exercise an element of judgement to estimate the timing and quantity of the performance obligations yet to be fulfilled at the balance sheet date.


4	EMPLOYEES

	The average number of persons employed by the company (including directors) during the year was:

		2025	2024
	Average number of employees	29	28

CORRUS LIMITED

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025


5	INTANGIBLE FIXED ASSETS
		Goodwill
		£
	Cost
	At 1 April 2024	312,500


	At 31 March 2025	312,500


	Accumulated amortisation and impairments
	At 1 April 2024	300,347

	Charge for year	4,166


	At 31 March 2025	304,513


	Net book value
	At 1 April 2024	12,153


	At 31 March 2025	7,987

CORRUS LIMITED

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025


6	TANGIBLE ASSETS
		Plant and machinery	Motor vehicles	Furniture and fittings	Total
		£	£	£	£
	Cost
	At 1 April 2024	851,058	64,480	123,969	1,039,507

	Additions	154,417	40,154	1,754	196,325

	Disposals	(4,000)	(10,000)	-	(14,000)


	At 31 March 2025	1,001,475	94,634	125,723	1,221,832


	Accumulated depreciation and impairments
	At 1 April 2024	687,833	33,503	68,757	790,093

	Charge for year	70,474	7,444	13,915	91,833

	Disposals	(3,967)	(7,775)	-	(11,742)


	At 31 March 2025	754,340	33,172	82,672	870,184


	Net book value
	At 1 April 2024	163,225	30,977	55,212	249,414


	At 31 March 2025	247,135	61,462	43,051	351,648


7	DEBTORS
				2025	2024
				£	£
	Trade debtors			596,422	426,443
	Prepayments and accrued income			28,527	17,976
	Other debtors			-	823,864


				624,949	1,268,283

CORRUS LIMITED

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025


8	CREDITORS: Amounts falling due within one year
			2025	2024
			£	£
	Trade creditors		838,937	652,318
	Taxation and social security		375,430	514,035
	Accruals and deferred income		632,485	652,501
	Other creditors		525,994	544,264


			2,372,846	2,363,118


9	CONTINGENCIES AND COMMITMENTS

	Other Commitments

	Amounts falling due under operating leases:		2025	2024
			£	£
	In less than one year		-	60,696
	In more than one but less than five years		-	64,610


			-	125,306


	Subsequent to the balance sheet date, the company entered into a lease agreement for premises commencing on 1 April 2025. The lease term is 5 years with annual lease payments of £108,000. The lease was not in effect as of the reporting date and therefore is not reflected in the accompanying financial statements.




10	RELATED PARTY TRANSACTIONS

	During the year, the following transactions with related parties took place:

	R P Kremer
	Director		2025	2024
			£	£
	Advances from director	The director has made advances to the company which are repayable on demand. No interest has been charged on these advances. At the year end, the company owed the director the following amount:	180,812	268,270

CORRUS LIMITED

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025


10	RELATED PARTY TRANSACTIONS (continued…)

	S P Gosney
	Director		2025	2024
			£	£
	Advances from director	The director has made advances to the company which are repayable on demand. No interest has been charged on these advances. At the year end, the company owed the director the following amount:	287,321	253,447


	G Gosney
	Director		2025	2024
			£	£
	Advances from director	The director has made advances to the company which are repayable on demand. No interest has been charged on these advances. At the year end, the company owed the director the following amount:	57,861	22,547


	KG Investments Newbury Ltd
	A company under common control		2025	2024
			£	£
	Intercompany charges	Rent and service charges charged to Corrus Limited:	135,534	131,084


	Intercompany loan	Loan balance due to Corrus Limited at the year end:	-	823,864


	Intercompany charges	Interest charged on loan balance by Corrus Limited:	-	20,094