Acorah Software Products - Accounts Production 16.0.110 false true 31 August 2023 1 September 2022 false 1 September 2023 31 August 2024 31 August 2024 SC706609 David Ginesi Elaine Ginesi iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure SC706609 2023-08-31 SC706609 2024-08-31 SC706609 2023-09-01 2024-08-31 SC706609 frs-core:CurrentFinancialInstruments 2024-08-31 SC706609 frs-core:ComputerEquipment 2024-08-31 SC706609 frs-core:ComputerEquipment 2023-09-01 2024-08-31 SC706609 frs-core:ComputerEquipment 2023-08-31 SC706609 frs-core:LandBuildings frs-core:OwnedOrFreeholdAssets 2024-08-31 SC706609 frs-core:LandBuildings frs-core:OwnedOrFreeholdAssets 2023-09-01 2024-08-31 SC706609 frs-core:LandBuildings frs-core:OwnedOrFreeholdAssets 2023-08-31 SC706609 frs-core:PlantMachinery 2024-08-31 SC706609 frs-core:PlantMachinery 2023-09-01 2024-08-31 SC706609 frs-core:PlantMachinery 2023-08-31 SC706609 frs-core:ShareCapital 2024-08-31 SC706609 frs-core:RetainedEarningsAccumulatedLosses 2024-08-31 SC706609 frs-bus:PrivateLimitedCompanyLtd 2023-09-01 2024-08-31 SC706609 frs-bus:FilletedAccounts 2023-09-01 2024-08-31 SC706609 frs-bus:SmallEntities 2023-09-01 2024-08-31 SC706609 frs-bus:AuditExempt-NoAccountantsReport 2023-09-01 2024-08-31 SC706609 frs-bus:SmallCompaniesRegimeForAccounts 2023-09-01 2024-08-31 SC706609 frs-bus:Director1 2023-09-01 2024-08-31 SC706609 frs-bus:Director2 2023-09-01 2024-08-31 SC706609 frs-countries:Scotland 2023-09-01 2024-08-31 SC706609 2022-08-31 SC706609 2023-08-31 SC706609 2022-09-01 2023-08-31 SC706609 frs-core:CurrentFinancialInstruments 2023-08-31 SC706609 frs-core:ShareCapital 2023-08-31 SC706609 frs-core:RetainedEarningsAccumulatedLosses 2023-08-31
Registered number: SC706609
R.E.AL Gelato Ltd
Unaudited Financial Statements
For The Year Ended 31 August 2024
14 Newton Place
Glasgow
G3 7PY
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—4
Page 1
Balance Sheet
Registered number: SC706609
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 181,285 196,051
181,285 196,051
CURRENT ASSETS
Stocks 5 3,750 3,500
Cash at bank and in hand 16,372 8,476
20,122 11,976
Creditors: Amounts Falling Due Within One Year 6 (115,773 ) (144,845 )
NET CURRENT ASSETS (LIABILITIES) (95,651 ) (132,869 )
TOTAL ASSETS LESS CURRENT LIABILITIES 85,634 63,182
NET ASSETS 85,634 63,182
CAPITAL AND RESERVES
Called up share capital 7 100 100
Profit and Loss Account 85,534 63,082
SHAREHOLDERS' FUNDS 85,634 63,182
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For the year ending 31 August 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
David Ginesi
Director
01/10/2024
The notes on pages 3 to 4 form part of these financial statements.
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Page 3
Notes to the Financial Statements
1. General Information
R.E.AL Gelato Ltd is a private company, limited by shares, incorporated in Scotland, registered number SC706609 . The registered office is 14 Newton Place, Glasgow, G3 7PY.
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.
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 Straight Line 2%
Plant & Machinery Reducing balance 25%
Computer Equipment Reducing balance 25%
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 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.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 2 (2023: 2)
2 2
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4. Tangible Assets
Land & Property
Freehold Plant & Machinery Computer Equipment Total
£ £ £ £
Cost
As at 1 September 2023 150,000 68,320 2,365 220,685
Additions - - 1,662 1,662
As at 31 August 2024 150,000 68,320 4,027 222,347
Depreciation
As at 1 September 2023 6,000 17,924 710 24,634
Provided during the period 3,000 12,599 829 16,428
As at 31 August 2024 9,000 30,523 1,539 41,062
Net Book Value
As at 31 August 2024 141,000 37,797 2,488 181,285
As at 1 September 2023 144,000 50,396 1,655 196,051
5. Stocks
2024 2023
£ £
Stock 3,750 3,500
6. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors (1 ) (1 )
Corporation tax 8,792 3,546
VAT 8,971 9,289
Accruals and deferred income 1,501 1,441
Directors' loan accounts 96,510 130,570
115,773 144,845
7. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 100 100
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