Acorah Software Products - Accounts Production 15.0.600 false true 31 May 2023 1 June 2022 false 1 June 2023 31 May 2024 31 May 2024 10782661 Mr R D G Glendinning Mrs Gina Glendinning iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 10782661 2023-05-31 10782661 2024-05-31 10782661 2023-06-01 2024-05-31 10782661 frs-core:CurrentFinancialInstruments 2024-05-31 10782661 frs-core:Non-currentFinancialInstruments 2024-05-31 10782661 frs-core:CopyrightsPatentsTrademarksServiceOperatingRights 2024-05-31 10782661 frs-core:CopyrightsPatentsTrademarksServiceOperatingRights 2023-06-01 2024-05-31 10782661 frs-core:CopyrightsPatentsTrademarksServiceOperatingRights 2023-05-31 10782661 frs-core:FurnitureFittings 2024-05-31 10782661 frs-core:FurnitureFittings 2023-06-01 2024-05-31 10782661 frs-core:FurnitureFittings 2023-05-31 10782661 frs-core:MotorVehicles 2024-05-31 10782661 frs-core:MotorVehicles 2023-06-01 2024-05-31 10782661 frs-core:MotorVehicles 2023-05-31 10782661 frs-core:PlantMachinery 2024-05-31 10782661 frs-core:PlantMachinery 2023-06-01 2024-05-31 10782661 frs-core:PlantMachinery 2023-05-31 10782661 frs-core:ShareCapital 2024-05-31 10782661 frs-core:RetainedEarningsAccumulatedLosses 2024-05-31 10782661 frs-bus:PrivateLimitedCompanyLtd 2023-06-01 2024-05-31 10782661 frs-bus:FilletedAccounts 2023-06-01 2024-05-31 10782661 frs-bus:SmallEntities 2023-06-01 2024-05-31 10782661 frs-bus:AuditExempt-NoAccountantsReport 2023-06-01 2024-05-31 10782661 frs-bus:SmallCompaniesRegimeForAccounts 2023-06-01 2024-05-31 10782661 frs-bus:Director1 2023-06-01 2024-05-31 10782661 frs-bus:Director2 2023-06-01 2024-05-31 10782661 frs-countries:EnglandWales 2023-06-01 2024-05-31 10782661 2022-05-31 10782661 2023-05-31 10782661 2022-06-01 2023-05-31 10782661 frs-core:CurrentFinancialInstruments 2023-05-31 10782661 frs-core:Non-currentFinancialInstruments 2023-05-31 10782661 frs-core:ShareCapital 2023-05-31 10782661 frs-core:RetainedEarningsAccumulatedLosses 2023-05-31
Registered number: 10782661
Gingar Limited
Unaudited Financial Statements
For The Year Ended 31 May 2024
C W Dix Limited
Accountants & Business Advisors
4b Silkwood Court
Wakefield
West Yorkshire
WF5 9TP
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 10782661
2024 2023
Notes £ £ £ £
FIXED ASSETS
Intangible Assets 4 90,500 90,500
Tangible Assets 5 9,051 9,694
99,551 100,194
CURRENT ASSETS
Stocks 6 6,423 -
Debtors 7 26,576 20,818
Cash at bank and in hand 33,314 43,720
66,313 64,538
Creditors: Amounts Falling Due Within One Year 8 (96,228 ) (115,164 )
NET CURRENT ASSETS (LIABILITIES) (29,915 ) (50,626 )
TOTAL ASSETS LESS CURRENT LIABILITIES 69,636 49,568
Creditors: Amounts Falling Due After More Than One Year 9 (64,662 ) (49,233 )
PROVISIONS FOR LIABILITIES
Deferred Taxation (1,720 ) (920 )
NET ASSETS/(LIABILITIES) 3,254 (585 )
CAPITAL AND RESERVES
Called up share capital 10 100 100
Profit and Loss Account 3,154 (685 )
SHAREHOLDERS' FUNDS 3,254 (585)
Page 1
Page 2
For the year ending 31 May 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 Gina Glendinning
Director
12/09/2024
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
Gingar Limited is a private company, limited by shares, incorporated in England & Wales, registered number 10782661 . The registered office is 4b Silkwood Court, Wakefield, West Yorkshire, WF5 9TP.
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 - Intellectual Property
Intellectual property assets are amortised to the profit and loss account over their estimated economic life of fifteen years.
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 20% per annum reducing balance
Motor Vehicles 25% per annum reducing balance
Fixtures & Fittings 20% per annum reducing balance
2.5. 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.
2.6. 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. 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.
...CONTINUED
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Page 4
2.6. Taxation - continued
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.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 20 (2023: 21)
20 21
4. Intangible Assets
Intellectual Property
£
Cost
As at 1 June 2023 122,500
As at 31 May 2024 122,500
Amortisation
As at 1 June 2023 32,000
As at 31 May 2024 32,000
Net Book Value
As at 31 May 2024 90,500
As at 1 June 2023 90,500
5. Tangible Assets
Plant & Machinery Motor Vehicles Fixtures & Fittings Total
£ £ £ £
Cost
As at 1 June 2023 16,512 13,571 4,871 34,954
Additions - - 1,456 1,456
As at 31 May 2024 16,512 13,571 6,327 36,410
Depreciation
As at 1 June 2023 12,035 10,350 2,875 25,260
Provided during the period 895 805 399 2,099
As at 31 May 2024 12,930 11,155 3,274 27,359
Net Book Value
As at 31 May 2024 3,582 2,416 3,053 9,051
As at 1 June 2023 4,477 3,221 1,996 9,694
6. Stocks
2024 2023
£ £
Stock 6,423 -
Page 4
Page 5
7. Debtors
2024 2023
£ £
Due within one year
Trade debtors 20,189 20,299
Prepayments and accrued income 6,387 519
26,576 20,818
8. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 12,646 5,764
Bank loans and overdrafts 41,590 56,887
Corporation tax 1,587 2,283
Other taxes and social security 2,207 1,502
VAT 13,538 18,559
Net wages 20,772 19,468
Other creditors - 3,236
Accruals and deferred income - 1,040
Directors' loan accounts 3,888 6,425
96,228 115,164
9. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Bank loans 64,662 49,233
10. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 100 100
Page 5