Acorah Software Products - Accounts Production 15.0.600 false true 31 January 2023 1 February 2022 false 1 February 2023 31 January 2024 31 January 2024 04627032 Ms Sally Leadley Mr Andrew Leadley Mr Gerrard Smith Mr Andrew Leadley Lectif Limited true iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 04627032 2023-01-31 04627032 2024-01-31 04627032 2023-02-01 2024-01-31 04627032 frs-core:CurrentFinancialInstruments 2024-01-31 04627032 frs-core:Non-currentFinancialInstruments 2024-01-31 04627032 frs-core:ComputerEquipment 2024-01-31 04627032 frs-core:ComputerEquipment 2023-02-01 2024-01-31 04627032 frs-core:ComputerEquipment 2023-01-31 04627032 frs-core:DevelopmentCostsCapitalisedDevelopmentExpenditure 2023-02-01 2024-01-31 04627032 frs-core:FurnitureFittings 2024-01-31 04627032 frs-core:FurnitureFittings 2023-02-01 2024-01-31 04627032 frs-core:FurnitureFittings 2023-01-31 04627032 frs-core:OtherResidualIntangibleAssets 2024-01-31 04627032 frs-core:OtherResidualIntangibleAssets 2023-02-01 2024-01-31 04627032 frs-core:OtherResidualIntangibleAssets 2023-01-31 04627032 frs-core:ShareCapital 2024-01-31 04627032 frs-core:RetainedEarningsAccumulatedLosses 2024-01-31 04627032 frs-bus:PrivateLimitedCompanyLtd 2023-02-01 2024-01-31 04627032 frs-bus:FilletedAccounts 2023-02-01 2024-01-31 04627032 frs-bus:SmallEntities 2023-02-01 2024-01-31 04627032 frs-bus:AuditExemptWithAccountantsReport 2023-02-01 2024-01-31 04627032 frs-bus:SmallCompaniesRegimeForAccounts 2023-02-01 2024-01-31 04627032 frs-bus:OrdinaryShareClass1 2023-02-01 2024-01-31 04627032 frs-bus:OrdinaryShareClass1 2024-01-31 04627032 1 2023-02-01 2024-01-31 04627032 frs-core:DeferredTaxation 2023-02-01 2024-01-31 04627032 frs-core:DeferredTaxation 2023-01-31 04627032 frs-core:DeferredTaxation 2024-01-31 04627032 frs-bus:Director1 2023-02-01 2024-01-31 04627032 frs-bus:Director2 2023-02-01 2024-01-31 04627032 frs-bus:Director3 2023-02-01 2024-01-31 04627032 frs-bus:CompanySecretary1 2023-02-01 2024-01-31 04627032 frs-countries:EnglandWales 2023-02-01 2024-01-31 04627032 2022-01-31 04627032 2023-01-31 04627032 2022-02-01 2023-01-31 04627032 frs-core:CurrentFinancialInstruments 2023-01-31 04627032 frs-core:Non-currentFinancialInstruments 2023-01-31 04627032 frs-core:ShareCapital 2023-01-31 04627032 frs-core:RetainedEarningsAccumulatedLosses 2023-01-31 04627032 frs-bus:OrdinaryShareClass1 2022-02-01 2023-01-31
Registered number: 04627032
Gudrum Classics Limited
Unaudited Financial Statements
For The Year Ended 31 January 2024
Ascendis Group
Chartered Certified Accountants, Taxation and Business Advisors
Unit 3, Building 2, The Colony Wilmslow
Altrincham Road
Wilmslow
Cheshire
SK9 4LY
Contents
Page
Accountant's Report 1
Balance Sheet 2—3
Notes to the Financial Statements 4—6
Page 1
Accountant's Report
Report to the directors on the preparation of the unaudited statutory accounts of Gudrum Classics Limited for the year ended 31 January 2024
To assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Gudrum Classics Limited which comprise the Profit and Loss Account, the Balance Sheet and the related notes, from the company’s accounting records and from information and explanations you have given us.
As a practising member of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at http://www.accaglobal.com/en/member/professional-standards/rules-standards/acca-rulebook.html.
This report is made to the directors of Gudrum Classics Limited , as a body, in accordance with the terms of our engagement letter dated 23 June 2023. Our work has been undertaken solely to prepare for your approval the accounts of Gudrum Classics Limited and state those matters that we have agreed to state to the directors of Gudrum Classics Limited , as a body, in this report in accordance with the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/content/dam/ACCA_Global/Technical/fact/technical-factsheet-163.pdf. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Gudrum Classics Limited and its directors as a body for our work or for this report.
It is your duty to ensure that Gudrum Classics Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit or loss of Gudrum Classics Limited . You consider that Gudrum Classics Limited is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit or a review of the accounts of Gudrum Classics Limited . For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the financial statements.
Signed
30th September 2024
Ascendis Group
Chartered Certified Accountants, Taxation and Business Advisors
Unit 3, Building 2, The Colony Wilmslow
Altrincham Road
Wilmslow
Cheshire
SK9 4LY
Page 1
Page 2
Balance Sheet
Registered number: 04627032
2024 2023
Notes £ £ £ £
FIXED ASSETS
Intangible Assets 4 65,733 69,398
Tangible Assets 5 2,514 5,174
68,247 74,572
CURRENT ASSETS
Stocks 6 137,609 715,080
Debtors 7 122,305 124,349
Cash at bank and in hand 423,864 88,147
683,778 927,576
Creditors: Amounts Falling Due Within One Year 8 (578,409 ) (723,143 )
NET CURRENT ASSETS (LIABILITIES) 105,369 204,433
TOTAL ASSETS LESS CURRENT LIABILITIES 173,616 279,005
Creditors: Amounts Falling Due After More Than One Year 9 (56,481 ) (116,370 )
PROVISIONS FOR LIABILITIES
Deferred Taxation 10 (629 ) (18,643 )
NET ASSETS 116,506 143,992
CAPITAL AND RESERVES
Called up share capital 12 2 2
Profit and Loss Account 116,504 143,990
SHAREHOLDERS' FUNDS 116,506 143,992
Page 2
Page 3
For the year ending 31 January 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
Mr Andrew Leadley
Director
30th September 2024
The notes on pages 4 to 6 form part of these financial statements.
Page 3
Page 4
Notes to the Financial Statements
1. General Information
Gudrum Classics Limited is a private company, limited by shares, incorporated in England & Wales, registered number 04627032 . The registered office is Unit 3, Building 2, The Colony Wilmslow, Altrincham Road, Wilmslow, Cheshire, SK9 4LY.
The trading address is Beacon Hill Office Park, Cafferata Way, Newark, NG24 2TN.
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. The director has elected to recognise turnover at the point of sale and not on delivery as he believes the economic benefit will flow to the entity.
2.3. Intangible Fixed Assets and Amortisation - Other Intangible
Other intangible assets are website costs. They are 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:
Fixtures & Fittings 15% on cost
Computer Equipment 33% on cost
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. 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.
2.7. 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 4
Page 5
3. Average Number of Employees
Average number of employees, including directors, during the year was: 9 (2023: 12)
9 12
4. Intangible Assets
Other
£
Cost
As at 1 February 2023 105,626
Additions 9,282
As at 31 January 2024 114,908
Amortisation
As at 1 February 2023 36,228
Provided during the period 12,947
As at 31 January 2024 49,175
Net Book Value
As at 31 January 2024 65,733
As at 1 February 2023 69,398
5. Tangible Assets
Fixtures & Fittings Computer Equipment Total
£ £ £
Cost
As at 1 February 2023 6,481 17,936 24,417
As at 31 January 2024 6,481 17,936 24,417
Depreciation
As at 1 February 2023 4,166 15,077 19,243
Provided during the period 531 2,129 2,660
As at 31 January 2024 4,697 17,206 21,903
Net Book Value
As at 31 January 2024 1,784 730 2,514
As at 1 February 2023 2,315 2,859 5,174
6. Stocks
2024 2023
£ £
Finished goods 137,609 715,080
7. Debtors
2024 2023
£ £
Due within one year
Trade debtors 100,330 97,857
Other debtors 21,975 26,492
122,305 124,349
Page 5
Page 6
8. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 231,902 226,307
Bank loans and overdrafts 75,205 75,205
Other creditors 187,078 164,663
Taxation and social security 84,224 256,968
578,409 723,143
9. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Bank loans 56,481 116,370
10. Deferred Taxation
The provision for deferred tax is made up as follows:
2024 2023
£ £
Other timing differences 629 18,643
11. Provisions for Liabilities
Deferred Tax Total
£ £
As at 1 February 2023 18,643 18,643
Additions (18,014 ) (18,014)
Balance at 31 January 2024 629 629
12. Share Capital
2024 2023
Allotted, called up and fully paid £ £
2 Ordinary Shares of £ 1 each 2 2
13. Ultimate Controlling Party
The company's ultimate controlling party is Lectif Limited by virtue of ownership of 100% of the issued share capital in the company.
14. Debenture
There is a fixed and floating charge registered at Companies House on the undertaking and all property and assets present and future, including goodwill, book debts, uncalled capital, buildings, fixtures, fixed plant & machinery.
Page 6