Acorah Software Products - Accounts Production 15.0.600 false true true 31 December 2022 1 January 2022 false 1 January 2023 31 December 2023 31 December 2023 05866168 Mr George Laws iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 05866168 2022-12-31 05866168 2023-12-31 05866168 2023-01-01 2023-12-31 05866168 frs-core:CurrentFinancialInstruments 2023-12-31 05866168 frs-core:BetweenOneFiveYears 2023-12-31 05866168 frs-core:ComputerEquipment 2023-12-31 05866168 frs-core:ComputerEquipment 2023-01-01 2023-12-31 05866168 frs-core:ComputerEquipment 2022-12-31 05866168 frs-core:DevelopmentCostsCapitalisedDevelopmentExpenditure 2023-01-01 2023-12-31 05866168 frs-core:FurnitureFittings 2023-12-31 05866168 frs-core:FurnitureFittings 2023-01-01 2023-12-31 05866168 frs-core:FurnitureFittings 2022-12-31 05866168 frs-core:LandBuildings frs-core:LeasedAssetsHeldAsLessee 2023-12-31 05866168 frs-core:LandBuildings frs-core:LeasedAssetsHeldAsLessee 2023-01-01 2023-12-31 05866168 frs-core:LandBuildings frs-core:LeasedAssetsHeldAsLessee 2022-12-31 05866168 frs-core:MoreThanFiveYears 2023-12-31 05866168 frs-core:OtherResidualIntangibleAssets 2023-12-31 05866168 frs-core:OtherResidualIntangibleAssets 2023-01-01 2023-12-31 05866168 frs-core:OtherResidualIntangibleAssets 2022-12-31 05866168 frs-core:WithinOneYear 2023-12-31 05866168 frs-core:SharePremium 2023-12-31 05866168 frs-core:ShareCapital 2023-12-31 05866168 frs-core:RetainedEarningsAccumulatedLosses 2023-12-31 05866168 frs-bus:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 05866168 frs-bus:FilletedAccounts 2023-01-01 2023-12-31 05866168 frs-bus:SmallEntities 2023-01-01 2023-12-31 05866168 frs-bus:AuditExempt-NoAccountantsReport 2023-01-01 2023-12-31 05866168 frs-bus:SmallCompaniesRegimeForAccounts 2023-01-01 2023-12-31 05866168 frs-bus:Director1 2023-01-01 2023-12-31 05866168 frs-countries:EnglandWales 2023-01-01 2023-12-31 05866168 2021-12-31 05866168 2022-12-31 05866168 2022-01-01 2022-12-31 05866168 frs-core:CurrentFinancialInstruments 2022-12-31 05866168 frs-core:BetweenOneFiveYears 2022-12-31 05866168 frs-core:MoreThanFiveYears 2022-12-31 05866168 frs-core:WithinOneYear 2022-12-31 05866168 frs-core:SharePremium 2022-12-31 05866168 frs-core:ShareCapital 2022-12-31 05866168 frs-core:RetainedEarningsAccumulatedLosses 2022-12-31
Registered number: 05866168
GML Consulting Limited
Unaudited Financial Statements
For The Year Ended 31 December 2023
Richard Day Accountants Ltd
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 05866168
2023 2022
Notes £ £ £ £
FIXED ASSETS
Intangible Assets 4 178,247 181,581
Tangible Assets 5 16,811 6,497
195,058 188,078
CURRENT ASSETS
Stocks 6 25,750 24,500
Debtors 7 224,392 282,481
Cash at bank and in hand 48,969 66,938
299,111 373,919
Creditors: Amounts Falling Due Within One Year 8 (360,502 ) (427,964 )
NET CURRENT ASSETS (LIABILITIES) (61,391 ) (54,045 )
TOTAL ASSETS LESS CURRENT LIABILITIES 133,667 134,033
PROVISIONS FOR LIABILITIES
Deferred Taxation (4,203 ) (1,234 )
NET ASSETS 129,464 132,799
CAPITAL AND RESERVES
Called up share capital 9 250 250
Share premium account 9,850 9,850
Profit and Loss Account 119,364 122,699
SHAREHOLDERS' FUNDS 129,464 132,799
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 member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his 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
Mr George Laws
Director
16/09/2024
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
GML Consulting Limited is a private company, limited by shares, incorporated in England & Wales, registered number 05866168 . The registered office is The Cottage, 87 Yarmouth Road, Norwich, NR7 0HF.
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. Going Concern Disclosure
The directors have not identified any material uncertainties related to events or conditions that may cast significant doubt about the company's ability to continue as a going concern.
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.
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. Intangible Fixed Assets and Amortisation - Other Intangible
Other intangible assets are amortised to profit and loss account over its estimated economic life of 10 years.
2.5. 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:
Leasehold 3 years straight line
Fixtures & Fittings 25% reducing balance
Computer Equipment 4 years straight line
2.6. Stocks and Work in Progress
Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
2.7. Foreign Currencies
Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate ruling on the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
2.8. Taxation
The 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
2.8. 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: 1 (2022: 1)
1 1
4. Intangible Assets
Other
£
Cost
As at 1 January 2023 273,340
Additions 24,000
As at 31 December 2023 297,340
Amortisation
As at 1 January 2023 91,759
Provided during the period 27,334
As at 31 December 2023 119,093
Net Book Value
As at 31 December 2023 178,247
As at 1 January 2023 181,581
5. Tangible Assets
Land & Property
Leasehold Fixtures & Fittings Computer Equipment Total
£ £ £ £
Cost
As at 1 January 2023 3,420 28,453 4,548 36,421
Additions 6,521 2,388 4,206 13,115
As at 31 December 2023 9,941 30,841 8,754 49,536
Depreciation
As at 1 January 2023 3,420 24,825 1,679 29,924
Provided during the period - 1,256 1,545 2,801
As at 31 December 2023 3,420 26,081 3,224 32,725
Net Book Value
As at 31 December 2023 6,521 4,760 5,530 16,811
As at 1 January 2023 - 3,628 2,869 6,497
Page 4
Page 5
6. Stocks
2023 2022
£ £
Work in progress 25,750 24,500
7. Debtors
2023 2022
£ £
Due within one year
Trade debtors 82,089 89,968
Prepayments and accrued income 3,118 3,544
Other debtors 14,247 14,247
Amounts owed by associates 124,938 174,722
224,392 282,481
8. Creditors: Amounts Falling Due Within One Year
2023 2022
£ £
Trade creditors 11,716 4,078
Bank loans and overdrafts 33,720 36,617
Corporation tax 7,219 4,786
VAT 134,281 128,965
Other creditors 37,612 30,949
Accruals and deferred income 3,800 3,800
Director's loan account 1,449 2,869
Amounts owed to associates 130,705 215,900
360,502 427,964
9. Share Capital
2023 2022
£ £
Allotted, Called up and fully paid 250 250
10. Other Commitments
The total of future minimum lease payments under non-cancellable operating leases are as following:
2023 2022
£ £
Not later than one year 16,500 16,500
Later than one year and not later than five years 66,000 66,000
Later than five years 4,125 20,625
86,625 103,125
Page 5