Acorah Software Products - Accounts Production 19.2.450 false true 31 December 2024 1 January 2024 false 1 January 2025 31 December 2025 31 December 2025 06984313 Mrs Nadia Macer-Wright Mr Thomas Macer-Wright Cornish Gems Holdings Ltd true iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 06984313 2024-12-31 06984313 2025-12-31 06984313 2025-01-01 2025-12-31 06984313 frs-core:CurrentFinancialInstruments 2025-12-31 06984313 frs-core:Non-currentFinancialInstruments 2025-12-31 06984313 frs-core:ComputerEquipment 2025-12-31 06984313 frs-core:ComputerEquipment 2025-01-01 2025-12-31 06984313 frs-core:ComputerEquipment 2024-12-31 06984313 frs-core:DevelopmentCostsCapitalisedDevelopmentExpenditure 2025-01-01 2025-12-31 06984313 frs-core:FurnitureFittings 2025-12-31 06984313 frs-core:FurnitureFittings 2025-01-01 2025-12-31 06984313 frs-core:FurnitureFittings 2024-12-31 06984313 frs-core:NetGoodwill 2025-12-31 06984313 frs-core:NetGoodwill 2025-01-01 2025-12-31 06984313 frs-core:NetGoodwill 2024-12-31 06984313 frs-core:LandBuildings frs-core:LeasedAssetsHeldAsLessee 2025-12-31 06984313 frs-core:LandBuildings frs-core:LeasedAssetsHeldAsLessee 2025-01-01 2025-12-31 06984313 frs-core:LandBuildings frs-core:LeasedAssetsHeldAsLessee 2024-12-31 06984313 frs-core:MotorVehicles 2025-12-31 06984313 frs-core:MotorVehicles 2025-01-01 2025-12-31 06984313 frs-core:MotorVehicles 2024-12-31 06984313 frs-core:OtherResidualIntangibleAssets 2025-12-31 06984313 frs-core:OtherResidualIntangibleAssets 2025-01-01 2025-12-31 06984313 frs-core:OtherResidualIntangibleAssets 2024-12-31 06984313 frs-core:PlantMachinery 2025-12-31 06984313 frs-core:PlantMachinery 2025-01-01 2025-12-31 06984313 frs-core:PlantMachinery 2024-12-31 06984313 frs-core:ShareCapital 2025-12-31 06984313 frs-core:RetainedEarningsAccumulatedLosses 2025-12-31 06984313 frs-bus:PrivateLimitedCompanyLtd 2025-01-01 2025-12-31 06984313 frs-bus:FilletedAccounts 2025-01-01 2025-12-31 06984313 frs-bus:SmallEntities 2025-01-01 2025-12-31 06984313 frs-bus:AuditExempt-NoAccountantsReport 2025-01-01 2025-12-31 06984313 frs-bus:SmallCompaniesRegimeForAccounts 2025-01-01 2025-12-31 06984313 1 2025-01-01 2025-12-31 06984313 frs-core:UnlistedNon-exchangeTraded 2025-12-31 06984313 frs-core:UnlistedNon-exchangeTraded 2024-12-31 06984313 frs-core:CostValuation frs-core:UnlistedNon-exchangeTraded 2024-12-31 06984313 frs-core:CostValuation frs-core:UnlistedNon-exchangeTraded 2025-12-31 06984313 frs-core:ProvisionsForImpairmentInvestments frs-core:UnlistedNon-exchangeTraded 2024-12-31 06984313 frs-core:ProvisionsForImpairmentInvestments frs-core:UnlistedNon-exchangeTraded 2025-12-31 06984313 frs-bus:Director1 2025-01-01 2025-12-31 06984313 frs-bus:Director1 2024-12-31 06984313 frs-bus:Director1 2025-12-31 06984313 frs-bus:Director2 2025-01-01 2025-12-31 06984313 frs-bus:Director2 2024-12-31 06984313 frs-bus:Director2 2025-12-31 06984313 frs-countries:EnglandWales 2025-01-01 2025-12-31 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:ShareCapital 2024-12-31 06984313 frs-core:RetainedEarningsAccumulatedLosses 2024-12-31
Registered number: 06984313
Cornish Gems Limited
Unaudited Financial Statements
For The Year Ended 31 December 2025
Grace Harbour Accountancy Ltd
Cornish Gems Limited
Contents
Contents

| Page
--- | ---
Balance Sheet | 1—2
Notes to the Financial Statements | 3—7

Page 1
Cornish Gems Limited
Balance Sheet
As At 31 December 2025
Balance Sheet
Registered number: 06984313

| 2025 | 2024
--- | --- | ---
| Notes | £ | £ | £ | £
FIXED ASSETS
Intangible Assets | 4 |  | 22,821 |  | 40,015
Tangible Assets | 5 |  | 74,771 |  | 56,593
Investments | 6 |  | 22,622 |  | 22,622
|  |  | 120,214 |  | 119,230
CURRENT ASSETS
Stocks | 7 | 5,000 |  | 4,904 |
Debtors | 8 | 2,348,831 |  | 2,341,994 |
Cash at bank and in hand |  | 73,305 |  | 521,788 |
|  | 2,427,136 |  | 2,868,686 |
Creditors: Amounts Falling Due Within One Year | 9 | (1,250,212 ) |  | (1,257,386 ) |
NET CURRENT ASSETS (LIABILITIES) |  |  | 1,176,924 |  | 1,611,300
TOTAL ASSETS LESS CURRENT LIABILITIES |  |  | 1,297,138 |  | 1,730,530
Creditors: Amounts Falling Due After More Than One Year | 10 |  | (400,000 ) |  | (700,000 )
PROVISIONS FOR LIABILITIES
Deferred Taxation |  |  | (13,217 ) |  | (14,113 )
NET ASSETS |  |  | 883,921 |  | 1,016,417
CAPITAL AND RESERVES
Called up share capital | 11 |  | 100 |  | 100
Profit and Loss Account |  |  | 883,821 |  | 1,016,317
SHAREHOLDERS' FUNDS |  |  | 883,921 |  | 1,016,417

Page 1
Page 2
Cornish Gems Limited
Balance Sheet (continued)
As At 31 December 2025
For the year ending 31 December 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 Nadia Macer-Wright Director
29/06/2026

The notes on pages 3 to 7 form part of these financial statements.
Page 2
Page 3
Cornish Gems Limited
Notes to the Financial Statements
For The Year Ended 31 December 2025
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, Cornwall, 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 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 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 It is amortised to the profit and loss account over its estimated economic life of ten years.
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.
Page 3
Page 4
Cornish Gems Limited
Notes to the Financial Statements (continued)
For The Year Ended 31 December 2025
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: 75 (2024: 94)
75 94
4. Intangible Assets

| Goodwill | Other | Total
--- | --- | --- | ---
| £ | £ | £
Cost
As at 1 January 2025 | 168,000 | 36,266 | 204,266
As at 31 December 2025 | 168,000 | 36,266 | 204,266
Amortisation
As at 1 January 2025 | 154,433 | 9,818 | 164,251
Provided during the period | 13,567 | 3,627 | 17,194
As at 31 December 2025 | 168,000 | 13,445 | 181,445
Net Book Value
As at 31 December 2025 | - | 22,821 | 22,821
As at 1 January 2025 | 13,567 | 26,448 | 40,015

Page 4
Page 5
Cornish Gems Limited
Notes to the Financial Statements (continued)
For The Year Ended 31 December 2025
5. Tangible Assets

| Land & Property
--- | ---
| Leasehold | Plant & Machinery | Motor Vehicles | Fixtures & Fittings
| £ | £ | £ | £
Cost
As at 1 January 2025 | 3,527 | 61,645 | 93,587 | 70,966
Additions | - | - | - | 1,067
Disposals | - | - | - | (8,609 )
As at 31 December 2025 | 3,527 | 61,645 | 93,587 | 63,424
Depreciation
As at 1 January 2025 | 2,659 | 45,684 | 61,762 | 64,016
Provided during the period | 282 | 9,898 | (25,272 ) | (2,460 )
As at 31 December 2025 | 2,941 | 55,582 | 36,490 | 61,556
Net Book Value
As at 31 December 2025 | 586 | 6,063 | 57,097 | 1,868
As at 1 January 2025 | 868 | 15,961 | 31,825 | 6,950

| Computer Equipment | Total
--- | --- | ---
| £ | £
Cost
As at 1 January 2025 | 1,249 | 230,974
Additions | 8,246 | 9,313
Disposals | - | (8,609 )
As at 31 December 2025 | 9,495 | 231,678
Depreciation
As at 1 January 2025 | 260 | 174,381
Provided during the period | 78 | (17,474 )
As at 31 December 2025 | 338 | 156,907
Net Book Value
As at 31 December 2025 | 9,157 | 74,771
As at 1 January 2025 | 989 | 56,593

Page 5
Page 6
Cornish Gems Limited
Notes to the Financial Statements (continued)
For The Year Ended 31 December 2025
6. Investments

| Unlisted
--- | ---
| £
Cost or Valuation
As at 1 January 2025 | 22,622
As at 31 December 2025 | 22,622
Provision
As at 1 January 2025 | -
As at 31 December 2025 | -
Net Book Value
As at 31 December 2025 | 22,622
As at 1 January 2025 | 22,622

7. Stocks

| 2025 |  | 2024
--- | --- | --- | ---
| £ |  | £
Stock | 5,000 |  | 4,904

8. Debtors

| 2025 |  | 2024
--- | --- | --- | ---
| £ |  | £
Due within one year
Trade debtors | 30,733 |  | -
Other debtors | 65,228 |  | 90,024
| 95,961 |  | 90,024
Due after more than one year
Amounts owed by group undertakings | 2,252,870 |  | 2,251,970
| 2,348,831 |  | 2,341,994

9. Creditors: Amounts Falling Due Within One Year

| 2025 |  | 2024
--- | --- | --- | ---
| £ |  | £
Trade creditors | 58,546 |  | 42,320
Bank loans and overdrafts | 300,082 |  | 300,000
Other creditors | 527,830 |  | 677,341
Taxation and social security | 363,754 |  | 237,725
| 1,250,212 |  | 1,257,386

10. Creditors: Amounts Falling Due After More Than One Year

| 2025 |  | 2024
--- | --- | --- | ---
| £ |  | £
Bank loans | 400,000 |  | 700,000

Page 6
Page 7
Cornish Gems Limited
Notes to the Financial Statements (continued)
For The Year Ended 31 December 2025
11. Share Capital

| 2025 |  | 2024
--- | --- | --- | ---
| £ |  | £
Allotted, Called up and fully paid | 100 |  | 100

12. Directors Advances, Credits and Guarantees
Included within Debtors are the following loans to directors:

| As at 1 January 2025 | Amounts advanced | Amounts repaid | Amounts written off | As at 31 December 2025
--- | --- | --- | --- | --- | ---
| £ | £ | £ | £ | £
Mrs Nadia Macer-Wright | 53,899 | 49,199 | 90,000 | - | 13,098
Mr Thomas Macer-Wright | 2,090 | 111,511 | 90,000 | - | 23,601

The above loan is unsecured, interest free and repayable on demand.
13. Ultimate Controlling Party
The company's ultimate controlling party is Cornish Gems Holdings Ltd by virtue of his ownership of 100% of the issued share capital in the company.
In the balance sheet there is £2,252,870 owed to the company by Cornish Gems Holdings Ltd.
Page 7