Acorah Software Products - Accounts Production 15.0.600 false true 31 July 2022 1 August 2021 false 1 August 2022 31 December 2023 31 December 2023 01108049 Mrs Sarah Wilson Ms Anna Wilson iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 01108049 2022-07-31 01108049 2023-12-31 01108049 2022-08-01 2023-12-31 01108049 frs-core:CurrentFinancialInstruments 2023-12-31 01108049 frs-core:LandBuildings frs-core:LeasedAssetsHeldAsLessee 2023-12-31 01108049 frs-core:LandBuildings frs-core:LeasedAssetsHeldAsLessee 2022-08-01 2023-12-31 01108049 frs-core:LandBuildings frs-core:LeasedAssetsHeldAsLessee 2022-07-31 01108049 frs-core:LandBuildings frs-core:OwnedOrFreeholdAssets 2023-12-31 01108049 frs-core:LandBuildings frs-core:OwnedOrFreeholdAssets 2022-08-01 2023-12-31 01108049 frs-core:LandBuildings frs-core:OwnedOrFreeholdAssets 2022-07-31 01108049 frs-core:MotorVehicles 2023-12-31 01108049 frs-core:MotorVehicles 2022-08-01 2023-12-31 01108049 frs-core:MotorVehicles 2022-07-31 01108049 frs-core:PlantMachinery 2023-12-31 01108049 frs-core:PlantMachinery 2022-08-01 2023-12-31 01108049 frs-core:PlantMachinery 2022-07-31 01108049 frs-core:ShareCapital 2023-12-31 01108049 frs-core:RetainedEarningsAccumulatedLosses 2023-12-31 01108049 frs-bus:PrivateLimitedCompanyLtd 2022-08-01 2023-12-31 01108049 frs-bus:FilletedAccounts 2022-08-01 2023-12-31 01108049 frs-bus:SmallEntities 2022-08-01 2023-12-31 01108049 frs-bus:AuditExempt-NoAccountantsReport 2022-08-01 2023-12-31 01108049 frs-bus:SmallCompaniesRegimeForAccounts 2022-08-01 2023-12-31 01108049 frs-bus:Director1 2022-08-01 2023-12-31 01108049 frs-bus:CompanySecretary1 2022-08-01 2023-12-31 01108049 frs-countries:EnglandWales 2022-08-01 2023-12-31 01108049 2021-07-31 01108049 2022-07-31 01108049 2021-08-01 2022-07-31 01108049 frs-core:CurrentFinancialInstruments 2022-07-31 01108049 frs-core:ShareCapital 2022-07-31 01108049 frs-core:RetainedEarningsAccumulatedLosses 2022-07-31
Registered number: 01108049
Gilray Plant Limited
Unaudited Financial Statements
For the Period 1 August 2022 to 31 December 2023
Shaikh & Co Ltd
Registered Auditors and Chartered Certified Accountants
Unaudited Financial Statements
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 01108049
31 December 2023 31 July 2022
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 1,756,440 1,862,656
1,756,440 1,862,656
CURRENT ASSETS
Stocks 5 2,809,069 4,071,034
Debtors 6 742,341 2,542,009
Cash at bank and in hand 198 5,353
3,551,608 6,618,396
Creditors: Amounts Falling Due Within One Year 7 (395,414 ) (2,916,109 )
NET CURRENT ASSETS (LIABILITIES) 3,156,194 3,702,287
TOTAL ASSETS LESS CURRENT LIABILITIES 4,912,634 5,564,943
PROVISIONS FOR LIABILITIES
Deferred Taxation (70,516 ) (70,345 )
NET ASSETS 4,842,118 5,494,598
CAPITAL AND RESERVES
Called up share capital 8 2,000 2,000
Profit and Loss Account 4,840,118 5,492,598
SHAREHOLDERS' FUNDS 4,842,118 5,494,598
Page 1
Page 2
For the period 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
Mrs Sarah Wilson
Director
06/06/2024
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
Gilray Plant Limited is a private company, limited by shares, incorporated in England & Wales, registered number 01108049 . The registered office is Cedar Depot, Church Manorway, Erith, Kent, DA8 1DE.
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. 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 at varying rates on cost
Leasehold at varying rates on cost
Plant & Machinery 25% on reducing balance
Motor Vehicles 25% on reducing balance
2.4. 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.
2.5. 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 year 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 asset reflects 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
3. Average Number of Employees
Average number of employees, including directors, during the period was: 10 (2022: 18)
10 18
4. Tangible Assets
Land & Property
Freehold Leasehold Plant & Machinery Motor Vehicles Total
£ £ £ £ £
Cost
As at 1 August 2022 1,708,607 9,425 329,546 833,622 2,881,200
Additions - - 22,241 47,375 69,616
Disposals - - - (26,819 ) (26,819 )
As at 31 December 2023 1,708,607 9,425 351,787 854,178 2,923,997
Depreciation
As at 1 August 2022 214,865 9,425 222,217 572,037 1,018,544
Provided during the period 19,364 - 45,889 108,789 174,042
Disposals - - - (25,029 ) (25,029 )
As at 31 December 2023 234,229 9,425 268,106 655,797 1,167,557
Net Book Value
As at 31 December 2023 1,474,378 - 83,681 198,381 1,756,440
As at 1 August 2022 1,493,742 - 107,329 261,585 1,862,656
5. Stocks
31 December 2023 31 July 2022
£ £
Finished goods 2,809,069 4,071,034
6. Debtors
31 December 2023 31 July 2022
£ £
Due within one year
Trade debtors 713,304 2,142,337
Prepayments and accrued income 29,037 398,412
Other debtors - 1,260
742,341 2,542,009
Page 4
Page 5
7. Creditors: Amounts Falling Due Within One Year
31 December 2023 31 July 2022
£ £
Trade creditors 43,546 1,536,827
Bank loans and overdrafts 232,766 849,819
Corporation tax - 159,678
Other taxes and social security 9,322 12,190
VAT 102,534 229,548
Other creditors 2,246 2,677
Accruals and deferred income 5,000 125,370
395,414 2,916,109
8. Share Capital
31 December 2023 31 July 2022
£ £
Allotted, Called up and fully paid 2,000 2,000
Page 5