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 12373554 Mr Gary Woodward Mr G Woodward true iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 12373554 2022-12-31 12373554 2023-12-31 12373554 2023-01-01 2023-12-31 12373554 frs-core:CurrentFinancialInstruments 2023-12-31 12373554 frs-core:Non-currentFinancialInstruments 2023-12-31 12373554 frs-core:BetweenOneFiveYears 2023-12-31 12373554 frs-core:MotorVehicles 2023-01-01 2023-12-31 12373554 frs-core:PlantMachinery 2023-12-31 12373554 frs-core:PlantMachinery 2023-01-01 2023-12-31 12373554 frs-core:PlantMachinery 2022-12-31 12373554 frs-core:WithinOneYear 2023-12-31 12373554 frs-core:ShareCapital 2023-12-31 12373554 frs-core:RetainedEarningsAccumulatedLosses 2023-12-31 12373554 frs-bus:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 12373554 frs-bus:FilletedAccounts 2023-01-01 2023-12-31 12373554 frs-bus:SmallEntities 2023-01-01 2023-12-31 12373554 frs-bus:AuditExempt-NoAccountantsReport 2023-01-01 2023-12-31 12373554 frs-bus:SmallCompaniesRegimeForAccounts 2023-01-01 2023-12-31 12373554 1 2023-01-01 2023-12-31 12373554 frs-bus:Director1 2023-01-01 2023-12-31 12373554 frs-countries:EnglandWales 2023-01-01 2023-12-31 12373554 2021-12-31 12373554 2022-12-31 12373554 2022-01-01 2022-12-31 12373554 frs-core:CurrentFinancialInstruments 2022-12-31 12373554 frs-core:Non-currentFinancialInstruments 2022-12-31 12373554 frs-core:BetweenOneFiveYears 2022-12-31 12373554 frs-core:WithinOneYear 2022-12-31 12373554 frs-core:ShareCapital 2022-12-31 12373554 frs-core:RetainedEarningsAccumulatedLosses 2022-12-31
Registered number: 12373554
Gwp (Nw) Limited
Unaudited Financial Statements
For The Year Ended 31 December 2023
My Trusted Accountant Limited
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 12373554
2023 2022
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 3 160,173 59,880
160,173 59,880
CURRENT ASSETS
Stocks 4 140,415 150,516
Debtors 5 387,231 526,097
Cash at bank and in hand 337,516 247,683
865,162 924,296
Creditors: Amounts Falling Due Within One Year 6 (806,041 ) (751,071 )
NET CURRENT ASSETS (LIABILITIES) 59,121 173,225
TOTAL ASSETS LESS CURRENT LIABILITIES 219,294 233,105
Creditors: Amounts Falling Due After More Than One Year 7 (19,302 ) (52,827 )
PROVISIONS FOR LIABILITIES
Deferred Taxation (30,433 ) (11,377 )
NET ASSETS 169,559 168,901
CAPITAL AND RESERVES
Called up share capital 10 100 100
Profit and Loss Account 169,459 168,801
SHAREHOLDERS' FUNDS 169,559 168,901
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 Gary Woodward
Director
20/09/2024
The notes on pages 3 to 5 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. Accounting Policies
1.1. 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.
1.2. 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.
1.3. Tangible Fixed Assets and Depreciation
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant & Machinery 25% on reducing balance
Motor Vehicles 25% on reducing balance
1.4. Leasing and Hire Purchase Contracts
Assets obtained under finance leases are capitalised as tangible fixed assets. Assets acquired under finance leases are depreciated over the shorter of the lease term and their useful lives. Assets acquired under hire purchase contracts are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in the creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.

Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to profit and loss account as incurred.
1.5. 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.
1.6. 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.
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.
Page 3
Page 4
2. Average Number of Employees
Average number of employees, including directors, during the year was: 8 (2022: 6)
8 6
3. Tangible Assets
Plant & Machinery etc.
£
Cost
As at 1 January 2023 77,818
Additions 138,666
As at 31 December 2023 216,484
Depreciation
As at 1 January 2023 17,938
Provided during the period 38,373
As at 31 December 2023 56,311
Net Book Value
As at 31 December 2023 160,173
As at 1 January 2023 59,880
4. Stocks
2023 2022
£ £
Materials 140,415 150,516
5. Debtors
2023 2022
£ £
Due within one year
Trade debtors 273,011 519,097
Other debtors 114,220 7,000
387,231 526,097
6. Creditors: Amounts Falling Due Within One Year
2023 2022
£ £
Net obligations under finance lease and hire purchase contracts 26,631 31,159
Trade creditors 445,425 225,175
Bank loans and overdrafts 10,800 10,648
Other creditors 216,676 313,173
Taxation and social security 106,509 170,916
806,041 751,071
Page 4
Page 5
7. Creditors: Amounts Falling Due After More Than One Year
2023 2022
£ £
Net obligations under finance lease and hire purchase contracts 7,827 29,930
Bank loans 11,475 22,897
19,302 52,827
8. Secured Creditors
Of the creditors the following amounts are secured by a fixed and floating charge over the company.
2023 2022
£ £
Other Creditors 206,651 306,826
9. Obligations Under Finance Leases and Hire Purchase
2023 2022
£ £
The future minimum finance lease payments are as follows:
Not later than one year 26,631 31,159
Later than one year and not later than five years 7,827 29,930
34,458 61,089
34,458 61,089
10. Share Capital
2023 2022
£ £
Allotted, Called up and fully paid 100 100
11. Ultimate Controlling Party
During the year under review, the company's ultimate controlling party is Mr G Woodward .
Page 5