Acorah Software Products - Accounts Production 15.0.600 false true true 31 December 2022 1 February 2022 false 17 April 2024 1 January 2023 31 December 2023 31 December 2023 02642291 Guy Busfield Mark Pawson Kevin O'Keeffe Mark Thomas GSH Energy Management Ltd true iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 02642291 2022-12-31 02642291 2023-12-31 02642291 2023-01-01 2023-12-31 02642291 frs-core:CurrentFinancialInstruments 2023-12-31 02642291 frs-core:ComputerEquipment 2023-12-31 02642291 frs-core:ComputerEquipment 2023-01-01 2023-12-31 02642291 frs-core:ComputerEquipment 2022-12-31 02642291 frs-core:FurnitureFittings 2023-12-31 02642291 frs-core:FurnitureFittings 2023-01-01 2023-12-31 02642291 frs-core:FurnitureFittings 2022-12-31 02642291 frs-core:PlantMachinery 2023-12-31 02642291 frs-core:PlantMachinery 2023-01-01 2023-12-31 02642291 frs-core:PlantMachinery 2022-12-31 02642291 frs-core:ShareCapital 2023-12-31 02642291 frs-core:RetainedEarningsAccumulatedLosses 2023-12-31 02642291 frs-bus:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 02642291 frs-bus:FilletedAccounts 2023-01-01 2023-12-31 02642291 frs-bus:SmallEntities 2023-01-01 2023-12-31 02642291 frs-bus:Audited 2023-01-01 2023-12-31 02642291 frs-bus:SmallCompaniesRegimeForAccounts 2023-01-01 2023-12-31 02642291 1 2023-01-01 2023-12-31 02642291 frs-bus:Director1 2023-01-01 2023-12-31 02642291 frs-bus:Director2 2023-01-01 2023-12-31 02642291 frs-bus:Director3 2023-01-01 2023-12-31 02642291 frs-bus:Director4 2023-01-01 2023-12-31 02642291 frs-countries:EnglandWales 2023-01-01 2023-12-31 02642291 2022-01-31 02642291 2022-12-31 02642291 2022-02-01 2022-12-31 02642291 frs-core:CurrentFinancialInstruments 2022-12-31 02642291 frs-core:ShareCapital 2022-12-31 02642291 frs-core:RetainedEarningsAccumulatedLosses 2022-12-31
Registered number: 02642291
GSH Facilities Management Ltd
Financial Statements
For The Year Ended 31 December 2023
Financial Statements
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—7
Page 1
Balance Sheet
Registered number: 02642291
31 December 2023 31 December 2022
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 21,637 15,345
21,637 15,345
CURRENT ASSETS
Work In Progress 5 461,820 479,290
Debtors 6 1,621,073 1,251,462
Cash at bank and in hand 1,470,581 1,085,664
3,553,474 2,816,416
Creditors: Amounts Falling Due Within One Year 7 (2,177,925 ) (1,903,494 )
NET CURRENT ASSETS (LIABILITIES) 1,375,549 912,922
TOTAL ASSETS LESS CURRENT LIABILITIES 1,397,186 928,267
NET ASSETS 1,397,186 928,267
CAPITAL AND RESERVES
Called up share capital 8 100 100
Profit and Loss Account 1,397,086 928,167
SHAREHOLDERS' FUNDS 1,397,186 928,267
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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
Guy Busfield
Director
Mark Pawson
Director
17 April 2024
The notes on pages 3 to 7 form part of these financial statements.
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Notes to the Financial Statements
1. General Information
GSH Facilities Management Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 02642291 . The registered office is 22 Penny Brooks Street, London, E15 1GP.
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. The financial statements are prepared in sterling which is the functional currency of the company. Monetary amounts in these accounts are rounded to the nearest £1.
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. The directors have considered relevant information, including the company’s principal risks and uncertainties, the annual budget, forecast future cash flows and the impact of subsequent events in making their assessment.  Based on these assessments and having regard to the resources available to the entity, the directors have concluded that there is no material uncertainty and that they can continue to adopt the going concern basis in preparing the annual report and 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
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.
2.4. 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 20.0% Per Annum Straight Line Basis
Fixtures & Fittings 33.3% Per Annum Straight Line Basis
Computer Equipment 33.3% Per Annum Straight Line Basis
The gain or loss arising on the disposal of an asset it determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.
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2.5. Leasing and Hire Purchase Contracts
Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the leases asset are consumed.
2.6. Stocks and Work in Progress
Work in progress is valued at the lower of cost and net realisable value. Cost includes all direct costs and an appropriate proportion of direct overheads. Work-in-progress is reflected in the accounts on a project by project basis by recording turnover and related costs as project activity progresses.
2.7. Financial Instruments
The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments
Basic financial assets
Basic financial assets, which include  trade, other receivables, loans to fellow group companies and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost.
Basic financial liabilities 
Basic financial liabilities, including trade and other payables that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.
2.8. 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.
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.
2.9. Pensions
Payments to defined contribution retirement benefit plans are recognised as an expense when employees have rendered service entitling them to the contribution. 
2.10. Reporting Period
The financial statements have been prepared for 12 months and the comparative is 11 months. This is to bring the accounting periods in line with the parent of the group. As a result the comparative period amounts in the financial statements will not be entirely comparable.
2.11. Cash & Cash Equivalents
Cash and cash equivalents are basic financial assets and include deposits held at call with banks. 
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2.12. Equity Instruments
Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.  
3. Average Number of Employees
Average number of employees, including directors, during the year was: 60 (2022: 51)
60 51
4. Tangible Assets
Plant & Machinery Fixtures & Fittings Computer Equipment Total
£ £ £ £
Cost
As at 1 January 2023 2,770 2,786 24,348 29,904
Additions - 3,418 13,848 17,266
As at 31 December 2023 2,770 6,204 38,196 47,170
Depreciation
As at 1 January 2023 139 2,236 12,184 14,559
Provided during the period 554 1,234 9,186 10,974
As at 31 December 2023 693 3,470 21,370 25,533
Net Book Value
As at 31 December 2023 2,077 2,734 16,826 21,637
As at 1 January 2023 2,631 550 12,164 15,345
5. Work In Progress
31 December 2023 31 December 2022
£ £
Work in progress 461,820 479,290
6. Debtors
31 December 2023 31 December 2022
£ £
Due within one year
Trade debtors 1,148,443 877,283
Other debtors 227,907 129,456
Amounts owed by group undertakings 244,723 244,723
1,621,073 1,251,462
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7. Creditors: Amounts Falling Due Within One Year
31 December 2023 31 December 2022
£ £
Trade creditors 1,106,972 719,868
Corporation tax 143,467 245,540
Other taxes and social security 105,153 82,065
VAT 181,215 214,907
Net wages - 960
Other creditors 205,867 50,871
Accruals and deferred income 435,251 589,283
2,177,925 1,903,494
8. Share Capital
31 December 2023 31 December 2022
£ £
Allotted, Called up and fully paid 100 100
9. Ultimate Controlling Party
The immediate parent undertaking is GSH Energy Management Limited, a company incorporated and
registered in Jersey, Channel Isles.
The ultimate parent undertaking and controlling party is George Scarr Hall Investments Limited, a company incorporated and registered in the Jersey, Channel Isles. The registered office is 6th Floor, 25 Farringdon Street, London, EC4A 4AB.
The ultimate controlling party is considered to be the Scarr Hall family by virtue of majority shareholding in the ultimate parent company.
GSH Facilities Management Limited is a whole owned subsidiary of George Scarr Hall Investments Limited and the results of GSH Facilities Management Limited are included in the consolidated financial statements of George Scarr Hall Investments Limited which are available from 4 Gatehall Drive, 2nd Floor, Parsippany, New Jersey 07054, USA
10.
Operating lease commitments
Leases
At the reporting end date the company had outstanding commitments for future minimum lease payments under non-cancellable operating leases, which fall due as follows:
                                                              31 December 2023        31 December 2022
Within one year                                                216,934                         20,000 
Between two and five years                             320,906                         48,333
                                                                        ________                      _______
                                                                         537,840                         68,333
                                                                        ________                      _______
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11. Audit Information
The auditors report on the account of GSH Facilities Management Ltd for the year ended 31 December 2023 was unqualified
The auditor's report was signed by Robert Dowling FCA (Senior Statutory Auditor) for and on behalf of Sumer Auditco Ltd , Statutory Auditor
Sumer Auditco Ltd
Chartered Accountants, Statutory Auditors
5 Peveril Court, 6-8 London Road
Crawley
West Sussex
RH10 8JE
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