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Registration number: 13054274

Gdk Software Ltd

Annual Report and Unaudited Financial Statements

for the Year Ended 31 December 2023

 

Gdk Software Ltd

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 8

 

Gdk Software Ltd

Company Information

Directors

Mr James Goodger

Mr Cornelis De Kraker

Mr Cornelis Marinus Geuze

Registered office

Suite 32 Press House Crest View Drive
Petts Wood
Orpington
BR5 1FE

Accountants

Lucraft Hodgson & Dawes LLP
2/4 Ash Lane
Rustington
West Sussex
BN16 3BZ

 

Gdk Software Ltd

(Registration number: 13054274)
Balance Sheet as at 31 December 2023

Note

2023
£

2022
£

Fixed assets

 

Intangible assets

4

31,943

36,506

Tangible assets

5

10,086

4,409

 

42,029

40,915

Current assets

 

Debtors

6

138,722

102,348

Cash at bank and in hand

 

60,124

47,064

 

198,846

149,412

Creditors: Amounts falling due within one year

7

(48,647)

(46,075)

Net current assets

 

150,199

103,337

Total assets less current liabilities

 

192,228

144,252

Creditors: Amounts falling due after more than one year

7

(22,524)

(45,973)

Provisions for liabilities

(2,219)

-

Net assets

 

167,485

98,279

Capital and reserves

 

Called up share capital

99

99

Profit and loss account

167,386

98,180

Shareholders' funds

 

167,485

98,279

For the financial 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.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 31 May 2024 and signed on its behalf by:
 

 

Gdk Software Ltd

(Registration number: 13054274)
Balance Sheet as at 31 December 2023

.........................................
Mr Cornelis De Kraker
Director

 

Gdk Software Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
Suite 32 Press House Crest View Drive
Petts Wood
Orpington
BR5 1FE
England

These financial statements were authorised for issue by the Board on 31 May 2024.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

These financial statements are presented in Sterling, which is also the company's functional currency. The financial statements are rounded to the nearest £1.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

 

Gdk Software Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023

2

Accounting policies (continued)

Foreign currency transactions and balances

Transactions in foreign currencies are initially recorded at the functional currency rate prevailing at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated into the respective functional currency of the entity at the rates prevailing on the reporting period date. Non-monetary items carried at fair value that are denominated in foreign currencies are retranslated at the rates prevailing on the initial transaction dates.

Non-monetary items measured in terms of historical cost in a foreign currency are not retranslated.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Office equipment

33% Straight line

Goodwill

Goodwill arising on the acquisition of an entity represents the excess of the cost of acquisition over the company’s interest in the net fair value of the identifiable assets, liabilities and contingent liabilities of the entity recognised at the date of acquisition. Goodwill is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is held in the currency of the acquired entity and revalued to the closing rate at each reporting period date. Goodwill is amortised over its useful life, which shall not exceed ten years if a reliable estimate of the useful life cannot be made.

 

Gdk Software Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023

2

Accounting policies (continued)

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Asset class

Amortisation method and rate

Goodwill

10% Straight line

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 6 (2022 - 5).

 

Gdk Software Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023

4

Intangible assets

Goodwill
 £

Total
£

Cost or valuation

At 1 January 2023

45,633

45,633

At 31 December 2023

45,633

45,633

Amortisation

At 1 January 2023

9,127

9,127

Amortisation charge

4,563

4,563

At 31 December 2023

13,690

13,690

Carrying amount

At 31 December 2023

31,943

31,943

At 31 December 2022

36,506

36,506

5

Tangible assets

Furniture, fittings and equipment
 £

Total
£

Cost or valuation

At 1 January 2023

5,972

5,972

Additions

9,020

9,020

At 31 December 2023

14,992

14,992

Depreciation

At 1 January 2023

1,563

1,563

Charge for the year

3,343

3,343

At 31 December 2023

4,906

4,906

Carrying amount

At 31 December 2023

10,086

10,086

At 31 December 2022

4,409

4,409

 

Gdk Software Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023

6

Debtors

Current

2023
£

2022
£

Trade debtors

72,431

53,423

Prepayments

51,777

39,511

Other debtors

14,514

9,414

 

138,722

102,348

7

Creditors

Creditors: amounts falling due within one year

2023
£

2022
£

Due within one year

Trade creditors

175

13,152

Taxation and social security

41,355

13,321

Accruals and deferred income

7,117

18,992

Other creditors

-

610

48,647

46,075

Creditors: amounts falling due after more than one year

2023
£

2022
£

Due after one year

Other non-current financial liabilities

22,524

45,973

22,524

45,973