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Registered number: 08445807
Cardinal Supplies Limited
Unaudited Financial Statements
For The Year Ended 31 March 2025
Olio Accountancy Ltd
47 Appleleaf Lane
Barton-Upon-Humber
DN18 5GP
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—6
Page 1
Balance Sheet
Registered number: 08445807
2025 2024
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 5 7,478 10,216
7,478 10,216
CURRENT ASSETS
Stocks 6 57,305 59,069
Debtors 7 64,494 52,299
Cash at bank and in hand 140,852 215,804
262,651 327,172
Creditors: Amounts Falling Due Within One Year 8 (178,371 ) (199,133 )
NET CURRENT ASSETS (LIABILITIES) 84,280 128,039
TOTAL ASSETS LESS CURRENT LIABILITIES 91,758 138,255
Creditors: Amounts Falling Due After More Than One Year 9 (11,667 ) (21,667 )
PROVISIONS FOR LIABILITIES
Deferred Taxation 10 (1,421 ) (2,554 )
NET ASSETS 78,670 114,034
CAPITAL AND RESERVES
Called up share capital 11 2 2
Profit and Loss Account 78,668 114,032
SHAREHOLDERS' FUNDS 78,670 114,034
Page 1
Page 2
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 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 Maureen Spink
Director
Mr Geoffrey Spink
Director
26th November 2025
The notes on pages 3 to 6 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Cardinal Supplies Limited is a private company, limited by shares, incorporated in England & Wales, registered number 08445807 . The registered office is Units 8 & 9 Lincoln Central Industrial Estate, Tentercroft Street, Lincoln, Lincolnshire, LN5 7ED.
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. 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 profit and loss account over its estimated economic life of five years.
2.4. 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 20% reducing balance
Fixtures & Fittings 15% reducing balance
Computer Equipment 3 years straight line
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. 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.
...CONTINUED
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2.6. Taxation - continued
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.
2.7. 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.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 12 (2024: 14)
12 14
4. Intangible Assets
Goodwill
£
Cost
As at 1 April 2024 21,000
As at 31 March 2025 21,000
Amortisation
As at 1 April 2024 21,000
As at 31 March 2025 21,000
Net Book Value
As at 31 March 2025 -
As at 1 April 2024 -
5. Tangible Assets
Plant & Machinery Fixtures & Fittings Computer Equipment Total
£ £ £ £
Cost
As at 1 April 2024 39,051 4,267 12,424 55,742
Additions - - 1,406 1,406
As at 31 March 2025 39,051 4,267 13,830 57,148
Depreciation
As at 1 April 2024 32,433 2,895 10,198 45,526
Provided during the period 1,323 205 2,616 4,144
As at 31 March 2025 33,756 3,100 12,814 49,670
Net Book Value
As at 31 March 2025 5,295 1,167 1,016 7,478
As at 1 April 2024 6,618 1,372 2,226 10,216
6. Stocks
2025 2024
£ £
Finished goods 57,305 59,069
Page 4
Page 5
7. Debtors
2025 2024
£ £
Due within one year
Trade debtors 33,222 28,416
Prepayments and accrued income 10,640 10,283
Other debtors 3,600 13,600
Directors' loan accounts 17,032 -
64,494 52,299
8. Creditors: Amounts Falling Due Within One Year
2025 2024
£ £
Trade creditors 79,062 51,713
Corporation tax 8,501 34,390
VAT 9,990 19,665
Other creditors 12,931 19,217
Other creditors (1) 64,121 72,086
Accruals and deferred income 3,766 1,772
Directors' loan accounts - 290
178,371 199,133
9. Creditors: Amounts Falling Due After More Than One Year
2025 2024
£ £
Bank loans 11,667 21,667
10. Deferred Taxation
The provision for deferred tax is made up as follows:
2025 2024
£ £
Other timing differences 1,421 2,554
11. Share Capital
2025 2024
£ £
Allotted, Called up and fully paid 2 2
12. Contingent Liabilities
2025 2024
£ £
At the end of the period 6,750 6,750
The company has total commitments contracted but not provided for in the financial statements in relation to an operating lease for the building the company occupies.
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13. Directors Advances, Credits and Guarantees
Included within Creditors are the following loans from directors:
As at 1 April 2024 Amounts advanced Amounts repaid Amounts written off As at 31 March 2025
£ £ £ £ £
Mrs Maureen Spink - 8,516 - - 8,516
Mr Geoffrey Spink - 8,516 - - 8,516
The above loan is unsecured, interest free and repayable on demand.
Dividends paid to directors
2025 2024
£ £
Mrs Maureen Spink 35,000 40,000
Mr Geoffrey Spink 35,000 40,000
14. Dividends
2025 2024
£ £
On equity shares:
Interim dividend paid 70,000 80,000
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