Acorah Software Products - Accounts Production 15.0.600 false true 31 December 2022 1 January 2022 false 1 January 2023 31 December 2023 31 December 2023 01947051 Sirajudin Ibrahim Geloo Afzal Ibrahim Geloo Ahmed Ibrahim Geloo Abdul Rashid Ibrahim Geloo iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 01947051 2022-12-31 01947051 2023-12-31 01947051 2023-01-01 2023-12-31 01947051 frs-core:CurrentFinancialInstruments 2023-12-31 01947051 frs-core:FurnitureFittings 2023-12-31 01947051 frs-core:FurnitureFittings 2023-01-01 2023-12-31 01947051 frs-core:FurnitureFittings 2022-12-31 01947051 frs-core:NetGoodwill 2023-12-31 01947051 frs-core:NetGoodwill 2023-01-01 2023-12-31 01947051 frs-core:NetGoodwill 2022-12-31 01947051 frs-core:LandBuildings frs-core:LeasedAssetsHeldAsLessee 2023-12-31 01947051 frs-core:LandBuildings frs-core:LeasedAssetsHeldAsLessee 2023-01-01 2023-12-31 01947051 frs-core:LandBuildings frs-core:LeasedAssetsHeldAsLessee 2022-12-31 01947051 frs-core:LandBuildings frs-core:OwnedOrFreeholdAssets 2023-12-31 01947051 frs-core:LandBuildings frs-core:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 01947051 frs-core:LandBuildings frs-core:OwnedOrFreeholdAssets 2022-12-31 01947051 frs-core:MotorVehicles 2023-12-31 01947051 frs-core:MotorVehicles 2023-01-01 2023-12-31 01947051 frs-core:MotorVehicles 2022-12-31 01947051 frs-core:CapitalRedemptionReserve 2023-12-31 01947051 frs-core:SharePremium 2023-12-31 01947051 frs-core:ShareCapital 2023-12-31 01947051 frs-core:RetainedEarningsAccumulatedLosses 2023-12-31 01947051 frs-bus:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 01947051 frs-bus:FilletedAccounts 2023-01-01 2023-12-31 01947051 frs-bus:SmallEntities 2023-01-01 2023-12-31 01947051 frs-bus:AuditExempt-NoAccountantsReport 2023-01-01 2023-12-31 01947051 frs-bus:SmallCompaniesRegimeForAccounts 2023-01-01 2023-12-31 01947051 frs-core:CostValuation 2022-12-31 01947051 frs-core:DisposalsRepaymentsInvestments 2023-12-31 01947051 frs-core:CostValuation 2023-12-31 01947051 frs-core:ProvisionsForImpairmentInvestments 2022-12-31 01947051 frs-core:ProvisionsForImpairmentInvestments 2023-12-31 01947051 frs-bus:Director1 2023-01-01 2023-12-31 01947051 frs-bus:Director2 2023-01-01 2023-12-31 01947051 frs-bus:Director3 2023-01-01 2023-12-31 01947051 frs-bus:Director4 2023-01-01 2023-12-31 01947051 frs-countries:EnglandWales 2023-01-01 2023-12-31 01947051 2021-12-31 01947051 2022-12-31 01947051 2022-01-01 2022-12-31 01947051 frs-core:CurrentFinancialInstruments 2022-12-31 01947051 frs-core:CapitalRedemptionReserve 2022-12-31 01947051 frs-core:SharePremium 2022-12-31 01947051 frs-core:ShareCapital 2022-12-31 01947051 frs-core:RetainedEarningsAccumulatedLosses 2022-12-31
Registered number: 01947051
Geloo Brothers Limited
Unaudited Financial Statements
For The Year Ended 31 December 2023
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 01947051
2023 2022
Notes £ £ £ £
FIXED ASSETS
Intangible Assets 4 26,625 33,281
Tangible Assets 5 162,103 174,111
Investments 6 569,977 569,977
758,705 777,369
CURRENT ASSETS
Stocks 7 251,926 261,172
Debtors 8 1,796,424 1,505,460
Cash at bank and in hand 411,485 706,838
2,459,835 2,473,470
Creditors: Amounts Falling Due Within One Year 9 (527,832 ) (590,290 )
NET CURRENT ASSETS (LIABILITIES) 1,932,003 1,883,180
TOTAL ASSETS LESS CURRENT LIABILITIES 2,690,708 2,660,549
PROVISIONS FOR LIABILITIES
Deferred Taxation (6,698 ) (8,937 )
NET ASSETS 2,684,010 2,651,612
CAPITAL AND RESERVES
Called up share capital 10 710,800 710,800
Share premium account 473,307 473,307
Capital redemption reserve 703,300 703,300
Profit and Loss Account 796,603 764,205
SHAREHOLDERS' FUNDS 2,684,010 2,651,612
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 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
Sirajudin Ibrahim Geloo
Director
04/09/2024
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
Geloo Brothers Limited is a private company, limited by shares, incorporated in England & Wales, registered number 01947051 . The registered office is GBL House, Cleaver Street, Blackburn, Lancashire, BB1 5DG.
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 - 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 5 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:
Freehold 2% straight line
Leasehold Over the life of lease
Motor Vehicles 25% reducing balance
Fixtures & Fittings 15% 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 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.
...CONTINUED
Page 3
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 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: 34 (2022: 33)
34 33
4. Intangible Assets
Goodwill
£
Cost
As at 1 January 2023 1,328,394
Additions -
As at 31 December 2023 1,328,394
Amortisation
As at 1 January 2023 1,295,113
Provided during the period 6,656
As at 31 December 2023 1,301,769
Net Book Value
As at 31 December 2023 26,625
As at 1 January 2023 33,281
5. Tangible Assets
Land & Property
Freehold Leasehold Motor Vehicles Fixtures & Fittings Total
£ £ £ £ £
Cost
As at 1 January 2023 125,826 10,500 38,209 374,495 549,030
As at 31 December 2023 125,826 10,500 38,209 374,495 549,030
Depreciation
As at 1 January 2023 5,286 10,500 19,942 339,191 374,919
Provided during the period 1,762 - 4,567 5,679 12,008
As at 31 December 2023 7,048 10,500 24,509 344,870 386,927
Net Book Value
As at 31 December 2023 118,778 - 13,700 29,625 162,103
As at 1 January 2023 120,540 - 18,267 35,304 174,111
Page 4
Page 5
6. Investments
Subsidiaries Associates Total
£ £ £
Cost
As at 1 January 2023 325,976 244,001 569,977
Disposals - - -
As at 31 December 2023 325,976 244,001 569,977
Provision
As at 1 January 2023 - - -
As at 31 December 2023 - - -
Net Book Value
As at 31 December 2023 325,976 244,001 569,977
As at 1 January 2023 325,976 244,001 569,977
7. Stocks
2023 2022
£ £
Stock 251,926 261,172
8. Debtors
2023 2022
£ £
Due within one year
Trade debtors 337,610 393,381
Amounts owed by group undertakings 1,408,944 858,944
Amounts owed by participating interests - 150,000
Other debtors 49,870 103,135
1,796,424 1,505,460
9. Creditors: Amounts Falling Due Within One Year
2023 2022
£ £
Trade creditors 499,237 551,688
Other creditors 28,595 38,602
527,832 590,290
10. Share Capital
2023 2022
£ £
Allotted, Called up and fully paid 710,800 710,800
Page 5