Acorah Software Products - Accounts Production 15.0.500 false true true 31 December 2022 1 January 2022 false 1 January 2023 31 December 2023 31 December 2023 09144248 Mr Gavin Tuck iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 09144248 2022-12-31 09144248 2023-12-31 09144248 2023-01-01 2023-12-31 09144248 frs-core:CurrentFinancialInstruments 2023-12-31 09144248 frs-core:Non-currentFinancialInstruments 2023-12-31 09144248 frs-core:BetweenOneFiveYears 2023-12-31 09144248 frs-core:FurnitureFittings 2023-12-31 09144248 frs-core:FurnitureFittings 2023-01-01 2023-12-31 09144248 frs-core:FurnitureFittings 2022-12-31 09144248 frs-core:NetGoodwill 2023-12-31 09144248 frs-core:NetGoodwill 2023-01-01 2023-12-31 09144248 frs-core:NetGoodwill 2022-12-31 09144248 frs-core:MotorVehicles 2023-12-31 09144248 frs-core:MotorVehicles 2023-01-01 2023-12-31 09144248 frs-core:MotorVehicles 2022-12-31 09144248 frs-core:PlantMachinery 2023-12-31 09144248 frs-core:PlantMachinery 2023-01-01 2023-12-31 09144248 frs-core:PlantMachinery 2022-12-31 09144248 frs-core:WithinOneYear 2023-12-31 09144248 frs-core:ShareCapital 2023-12-31 09144248 frs-core:RetainedEarningsAccumulatedLosses 2023-12-31 09144248 frs-bus:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 09144248 frs-bus:FilletedAccounts 2023-01-01 2023-12-31 09144248 frs-bus:SmallEntities 2023-01-01 2023-12-31 09144248 frs-bus:AuditExempt-NoAccountantsReport 2023-01-01 2023-12-31 09144248 frs-bus:SmallCompaniesRegimeForAccounts 2023-01-01 2023-12-31 09144248 frs-bus:Director1 2023-01-01 2023-12-31 09144248 frs-bus:Director1 2022-12-31 09144248 frs-bus:Director1 2023-12-31 09144248 frs-countries:EnglandWales 2023-01-01 2023-12-31 09144248 2021-12-31 09144248 2022-12-31 09144248 2022-01-01 2022-12-31 09144248 frs-core:CurrentFinancialInstruments 2022-12-31 09144248 frs-core:Non-currentFinancialInstruments 2022-12-31 09144248 frs-core:BetweenOneFiveYears 2022-12-31 09144248 frs-core:MotorVehicles 2022-01-01 2022-12-31 09144248 frs-core:WithinOneYear 2022-12-31 09144248 frs-core:ShareCapital 2022-12-31 09144248 frs-core:RetainedEarningsAccumulatedLosses 2022-12-31
Registered number: 09144248
GMEC Solutions Limited
Unaudited Financial Statements
For The Year Ended 31 December 2023
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—6
Page 1
Balance Sheet
Registered number: 09144248
2023 2022
Notes £ £ £ £
FIXED ASSETS
Intangible Assets 4 7,028 9,371
Tangible Assets 5 92,351 70,766
99,379 80,137
CURRENT ASSETS
Stocks 6 1,528 27,899
Debtors 7 221,427 128,046
Cash at bank and in hand 174,496 93,943
397,451 249,888
Creditors: Amounts Falling Due Within One Year 8 (238,117 ) (149,562 )
NET CURRENT ASSETS (LIABILITIES) 159,334 100,326
TOTAL ASSETS LESS CURRENT LIABILITIES 258,713 180,463
Creditors: Amounts Falling Due After More Than One Year 9 (63,592 ) (57,214 )
PROVISIONS FOR LIABILITIES
Deferred Taxation (23,088 ) (13,446 )
NET ASSETS 172,033 109,803
CAPITAL AND RESERVES
Called up share capital 11 100 100
Profit and Loss Account 171,933 109,703
SHAREHOLDERS' FUNDS 172,033 109,803
Page 1
Page 2
For the year ending 31 December 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his 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 Gavin Tuck
Director
7 August 2024
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
GMEC Solutions Limited is a private company, limited by shares, incorporated in England & Wales, registered number 09144248 . The registered office is Offices 37 & 38, Apollo Business Village, Heol Persondy, Aberkenfig, Bridgend, CF32 9TF.
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. Going Concern Disclosure
The directors have not identified any material uncertainties related to events or conditions that may cast significant doubt about the company's ability to continue as a going concern.
2.3. 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.
2.4. 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 10 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:
Plant & Machinery 20% Reducing Balance
Motor Vehicles 25% Reducing Balance
Fixtures & Fittings 20% Reducing Balance
2.6. 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 profit and loss account as incurred.
2.7. 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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2.8. 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.
2.9. 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.
2.10. Government Grant
Government grants are recognised in the profit and loss account in an appropriate manner that matches them with the expenditure towards which they are intended to contribute.
Grants for immediate financial support or to cover costs already incurred are recognised immediately in the profit and loss account. Grants towards general activities of the entity over a specific period are recognised in the profit and loss account over that period.
Grants towards fixed assets are recognised over the expected useful lives of the related assets and are treated as deferred income and released to the profit and loss account over the useful life of the asset concerned.
All grants in the profit and loss account are recognised when all conditions for receipt have been complied with.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 6 (2022: 5)
6 5
4. Intangible Assets
Goodwill
£
Cost
As at 1 January 2023 23,427
As at 31 December 2023 23,427
Amortisation
As at 1 January 2023 14,056
Provided during the period 2,343
As at 31 December 2023 16,399
Net Book Value
As at 31 December 2023 7,028
As at 1 January 2023 9,371
Page 4
Page 5
5. Tangible Assets
Plant & Machinery Motor Vehicles Fixtures & Fittings Total
£ £ £ £
Cost
As at 1 January 2023 25,689 70,126 8,285 104,100
Additions 10,339 30,240 3,430 44,009
As at 31 December 2023 36,028 100,366 11,715 148,109
Depreciation
As at 1 January 2023 7,353 21,609 4,372 33,334
Provided during the period 4,649 16,534 1,241 22,424
As at 31 December 2023 12,002 38,143 5,613 55,758
Net Book Value
As at 31 December 2023 24,026 62,223 6,102 92,351
As at 1 January 2023 18,336 48,517 3,913 70,766
Included above are assets held under finance leases or hire purchase contracts with a net book value as follows:
2023 2022
£ £
Motor Vehicles 54,875 38,719
6. Stocks
2023 2022
£ £
Work in progress 1,528 27,899
7. Debtors
2023 2022
£ £
Due within one year
Trade debtors 171,064 117,401
Other debtors 50,363 10,645
221,427 128,046
8. Creditors: Amounts Falling Due Within One Year
2023 2022
£ £
Net obligations under finance lease and hire purchase contracts 15,970 8,054
Trade creditors 96,019 32,295
Bank loans and overdrafts 3,333 3,333
Other creditors 38,575 44,251
Taxation and social security 84,220 61,629
238,117 149,562
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9. Creditors: Amounts Falling Due After More Than One Year
2023 2022
£ £
Net obligations under finance lease and hire purchase contracts 45,537 35,825
Bank loans 18,055 21,389
63,592 57,214
10. Obligations Under Finance Leases and Hire Purchase
2023 2022
£ £
The future minimum finance lease payments are as follows:
Not later than one year 15,970 8,054
Later than one year and not later than five years 45,537 35,825
61,507 43,879
61,507 43,879
11. Share Capital
2023 2022
£ £
Allotted, Called up and fully paid 100 100
12. Pension Commitments
The company operates a defined contribution pension scheme for it's employees. The assets of the scheme are held separately from those of the company in an independently administered fund. At the balance sheet date unpaid contributions of £622 (2022: £392) were due to the fund. They are included in Other Creditors.
13. Directors Advances, Credits and Guarantees
Included within Debtors are the following loans to directors:
As at 1 January 2023 Amounts advanced Amounts repaid Amounts written off As at 31 December 2023
£ £ £ £ £
Mr Gavin Tuck (16,409 ) 88,996 (54,365 ) - 18,222
The above loan is unsecured, interest free and repayable on demand.
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