Acorah Software Products - Accounts Production 15.0.600 false true true 30 April 2023 1 May 2022 false 1 May 2023 30 April 2024 30 April 2024 03038925 C P Alloway R A Prior C P Alloway true iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 03038925 2023-04-30 03038925 2024-04-30 03038925 2023-05-01 2024-04-30 03038925 frs-core:CurrentFinancialInstruments 2024-04-30 03038925 frs-core:ComputerEquipment 2024-04-30 03038925 frs-core:ComputerEquipment 2023-05-01 2024-04-30 03038925 frs-core:ComputerEquipment 2023-04-30 03038925 frs-core:FurnitureFittings 2024-04-30 03038925 frs-core:FurnitureFittings 2023-05-01 2024-04-30 03038925 frs-core:FurnitureFittings 2023-04-30 03038925 frs-core:PlantMachinery 2024-04-30 03038925 frs-core:PlantMachinery 2023-05-01 2024-04-30 03038925 frs-core:PlantMachinery 2023-04-30 03038925 frs-core:ShareCapital 2024-04-30 03038925 frs-core:RetainedEarningsAccumulatedLosses 2024-04-30 03038925 frs-bus:PrivateLimitedCompanyLtd 2023-05-01 2024-04-30 03038925 frs-bus:FilletedAccounts 2023-05-01 2024-04-30 03038925 frs-bus:SmallEntities 2023-05-01 2024-04-30 03038925 frs-bus:AuditExempt-NoAccountantsReport 2023-05-01 2024-04-30 03038925 frs-bus:SmallCompaniesRegimeForAccounts 2023-05-01 2024-04-30 03038925 1 2023-05-01 2024-04-30 03038925 frs-bus:Director1 2023-05-01 2024-04-30 03038925 frs-bus:Director2 2023-05-01 2024-04-30 03038925 frs-bus:CompanySecretary1 2023-05-01 2024-04-30 03038925 frs-countries:EnglandWales 2023-05-01 2024-04-30 03038925 2022-04-30 03038925 2023-04-30 03038925 2022-05-01 2023-04-30 03038925 frs-core:CurrentFinancialInstruments 2023-04-30 03038925 frs-core:ShareCapital 2023-04-30 03038925 frs-core:RetainedEarningsAccumulatedLosses 2023-04-30
Registered number: 03038925
Graphic Business Forms Limited
Unaudited Financial Statements
For The Year Ended 30 April 2024
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 03038925
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 755 2,174
755 2,174
CURRENT ASSETS
Stocks 518,200 735,230
Debtors 5 2,194,845 2,011,989
Cash at bank and in hand 1,540,788 2,543,437
4,253,833 5,290,656
Creditors: Amounts Falling Due Within One Year 6 (2,141,747 ) (1,972,337 )
NET CURRENT ASSETS (LIABILITIES) 2,112,086 3,318,319
TOTAL ASSETS LESS CURRENT LIABILITIES 2,112,841 3,320,493
NET ASSETS 2,112,841 3,320,493
CAPITAL AND RESERVES
Called up share capital 7 100 100
Profit and Loss Account 2,112,741 3,320,393
SHAREHOLDERS' FUNDS 2,112,841 3,320,493
Page 1
Page 2
For the year ending 30 April 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
C P Alloway
Director
31/07/2024
The notes on pages 3 to 5 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Graphic Business Forms Limited is a private company, limited by shares, incorporated in England & Wales, registered number 03038925 . The registered office is The Lodge, 109 Saint Marys Road, Market Harborough, Leicestershire, LE16 7DT.
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
At the time of approving the financial statements, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus the directors continue to adopt the going concern basis of accounting in preparing the financial statements.
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
Revenue from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have passed to the buyer (usually on dispatch of the goods), the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the entity and the costs incurred or to be incurred in respect of the transaction can be measured reliably.
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. 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 25% straight line
Fixtures & Fittings 25% straight line
Computer Equipment 25% straight line
2.5. Leasing and Hire Purchase Contracts
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.
2.6. 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
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 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.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 18 (2023: 17)
18 17
4. Tangible Assets
Plant & Machinery Fixtures & Fittings Computer Equipment Total
£ £ £ £
Cost
As at 1 May 2023 38,819 2,958 94,658 136,435
Additions - - 1,509 1,509
As at 30 April 2024 38,819 2,958 96,167 137,944
Depreciation
As at 1 May 2023 38,819 2,958 92,484 134,261
Provided during the period - - 2,928 2,928
As at 30 April 2024 38,819 2,958 95,412 137,189
Net Book Value
As at 30 April 2024 - - 755 755
As at 1 May 2023 - - 2,174 2,174
5. Debtors
2024 2023
£ £
Due within one year
Trade debtors 2,087,848 1,987,073
Prepayments and accrued income 26,944 24,599
Other debtors 80,053 317
2,194,845 2,011,989
Page 4
Page 5
6. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 1,445,526 1,293,688
Other creditors 131,368 185,235
Taxation and social security 564,853 493,414
2,141,747 1,972,337
7. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 100 100
8. Related Party Transactions
During the year the whole of the company’s issued share capital was acquired by the Lodge EOT Limited , an employee ownership trust constituted for the benefit of all employees of the company. This transaction was completed largely on a deferred basis and as a consequence the vendor shareholders will, for the foreseeable future , remain in office as full time executive directors , during which time they plan to further invest in , develop and expand the next generation employee and management team , to underpin the long term future of all stakeholders of the business.
This strategy reflects the company’s consistent and ongoing commitment to its longstanding and loyal workforce, whom they wish to continue to reward and motivate , thereby maintaining the existing high levels of employee engagement and focus on the business.
The funding for the transactions was partially achieved through an initial contribution by the company. The balance of the consideration was funded by the previous owners of the business, The loans due to previous ownerd are an obligation of the Trust and so the liability for any future payments has not been recognised by the company, 
During the year, the company made contributions totalling £2,798,984 to the Trust.
9. Ultimate Controlling Party
The company's ultimate controlling party is The Lodge EOT Limited by virtue of its ownership of 100% of the issued share capital in the company.
Page 5