Acorah Software Products - Accounts Production 15.0.600 false true 31 March 2023 1 April 2022 false 1 April 2023 31 March 2024 31 March 2024 04716599 G T Owen Mrs L A Owen Mrs L A Owen iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 04716599 2023-03-31 04716599 2024-03-31 04716599 2023-04-01 2024-03-31 04716599 frs-core:CurrentFinancialInstruments 2024-03-31 04716599 frs-core:NetGoodwill 2024-03-31 04716599 frs-core:NetGoodwill 2023-04-01 2024-03-31 04716599 frs-core:NetGoodwill 2023-03-31 04716599 frs-core:MotorVehicles 2024-03-31 04716599 frs-core:MotorVehicles 2023-04-01 2024-03-31 04716599 frs-core:MotorVehicles 2023-03-31 04716599 frs-core:PlantMachinery 2024-03-31 04716599 frs-core:PlantMachinery 2023-04-01 2024-03-31 04716599 frs-core:PlantMachinery 2023-03-31 04716599 frs-core:ShareCapital 2024-03-31 04716599 frs-core:RetainedEarningsAccumulatedLosses 2024-03-31 04716599 frs-bus:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 04716599 frs-bus:FilletedAccounts 2023-04-01 2024-03-31 04716599 frs-bus:SmallEntities 2023-04-01 2024-03-31 04716599 frs-bus:AuditExempt-NoAccountantsReport 2023-04-01 2024-03-31 04716599 frs-bus:SmallCompaniesRegimeForAccounts 2023-04-01 2024-03-31 04716599 frs-bus:Director1 2023-04-01 2024-03-31 04716599 frs-bus:Director2 2023-04-01 2024-03-31 04716599 frs-bus:CompanySecretary1 2023-04-01 2024-03-31 04716599 frs-countries:EnglandWales 2023-04-01 2024-03-31 04716599 2022-03-31 04716599 2023-03-31 04716599 2022-04-01 2023-03-31 04716599 frs-core:CurrentFinancialInstruments 2023-03-31 04716599 frs-core:ShareCapital 2023-03-31 04716599 frs-core:RetainedEarningsAccumulatedLosses 2023-03-31
Registered number: 04716599
GTO Windows & Conservatories Limited
Financial Statements
For The Year Ended 31 March 2024
Financial Statements
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 04716599
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 - 179
- 179
CURRENT ASSETS
Stocks 5 200 525
Debtors 6 - 7,164
Cash at bank and in hand 40,833 40,992
41,033 48,681
Creditors: Amounts Falling Due Within One Year 7 (5,517 ) (3,700 )
NET CURRENT ASSETS (LIABILITIES) 35,516 44,981
TOTAL ASSETS LESS CURRENT LIABILITIES 35,516 45,160
NET ASSETS 35,516 45,160
CAPITAL AND RESERVES
Called up share capital 8 2 2
Profit and Loss Account 35,514 45,158
SHAREHOLDERS' FUNDS 35,516 45,160
Page 1
Page 2
For the year ending 31 March 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
Mrs L A Owen
Director
30 August 2024
The notes on pages 3 to 5 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. Accounting Policies
1.1. 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.
1.2. 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.
1.3. 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 .... years.
1.4. 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% Straight Line
Motor Vehicles 25% Straight Line
1.5. 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.
1.6. 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. 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. The carrying amount of deferred tax assets is reviewed at the end of each reporting period.
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.
2. Average Number of Employees
Average number of employees, including directors, during the year was as follows: 2 (2023: 2)
2 2
Page 3
Page 4
3. Intangible Assets
Goodwill
£
Cost
As at 1 April 2023 7,500
As at 31 March 2024 7,500
Amortisation
As at 1 April 2023 7,500
As at 31 March 2024 7,500
Net Book Value
As at 31 March 2024 -
As at 1 April 2023 -
4. Tangible Assets
Plant & Machinery Motor Vehicles Total
£ £ £
Cost
As at 1 April 2023 6,885 12,912 19,797
As at 31 March 2024 6,885 12,912 19,797
Depreciation
As at 1 April 2023 6,708 12,910 19,618
Provided during the period 178 1 179
As at 31 March 2024 6,886 12,911 19,797
Net Book Value
As at 31 March 2024 (1 ) 1 -
As at 1 April 2023 177 2 179
5. Stocks
2024 2023
£ £
Stock 200 525
6. Debtors
2024 2023
£ £
Due within one year
Directors' loan accounts - 7,164
- 7,164
Page 4
Page 5
7. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Corporation tax 2,305 1,051
Other taxes and social security 1,267 137
VAT 478 1,362
Accruals and deferred income 1,250 1,150
Directors' loan accounts 217 -
5,517 3,700
8. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 2 2
9. General Information
GTO Windows & Conservatories Limited is a private company, limited by shares, incorporated in England & Wales, registered number 04716599 . The registered office is 67 Rayneham Road, Shipley View, Ilkeston, DE7 8RJ.
Page 5