Acorah Software Products - Accounts Production 15.0.600 false true 31 May 2023 1 June 2022 false 1 June 2023 31 May 2024 31 May 2024 04752344 Mrs Tracy Brady Mr Karl Brady Mrs Tracy Brady true iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 04752344 2023-05-31 04752344 2024-05-31 04752344 2023-06-01 2024-05-31 04752344 frs-core:CurrentFinancialInstruments 2024-05-31 04752344 frs-core:ComputerEquipment 2024-05-31 04752344 frs-core:ComputerEquipment 2023-06-01 2024-05-31 04752344 frs-core:ComputerEquipment 2023-05-31 04752344 frs-core:FurnitureFittings 2024-05-31 04752344 frs-core:FurnitureFittings 2023-06-01 2024-05-31 04752344 frs-core:FurnitureFittings 2023-05-31 04752344 frs-core:NetGoodwill 2024-05-31 04752344 frs-core:NetGoodwill 2023-06-01 2024-05-31 04752344 frs-core:NetGoodwill 2023-05-31 04752344 frs-core:MotorVehicles 2024-05-31 04752344 frs-core:MotorVehicles 2023-06-01 2024-05-31 04752344 frs-core:MotorVehicles 2023-05-31 04752344 frs-core:PlantMachinery 2024-05-31 04752344 frs-core:PlantMachinery 2023-06-01 2024-05-31 04752344 frs-core:PlantMachinery 2023-05-31 04752344 frs-core:ShareCapital 2024-05-31 04752344 frs-core:RetainedEarningsAccumulatedLosses 2024-05-31 04752344 frs-bus:PrivateLimitedCompanyLtd 2023-06-01 2024-05-31 04752344 frs-bus:FilletedAccounts 2023-06-01 2024-05-31 04752344 frs-bus:SmallEntities 2023-06-01 2024-05-31 04752344 frs-bus:AuditExempt-NoAccountantsReport 2023-06-01 2024-05-31 04752344 frs-bus:SmallCompaniesRegimeForAccounts 2023-06-01 2024-05-31 04752344 1 2023-06-01 2024-05-31 04752344 frs-bus:Director1 2023-06-01 2024-05-31 04752344 frs-bus:Director2 2023-06-01 2024-05-31 04752344 frs-bus:CompanySecretary1 2023-06-01 2024-05-31 04752344 frs-countries:EnglandWales 2023-06-01 2024-05-31 04752344 2022-05-31 04752344 2023-05-31 04752344 2022-06-01 2023-05-31 04752344 frs-core:CurrentFinancialInstruments 2023-05-31 04752344 frs-core:ShareCapital 2023-05-31 04752344 frs-core:RetainedEarningsAccumulatedLosses 2023-05-31
Registered number: 04752344
g & K Brady Limited
Unaudited Financial Statements
For The Year Ended 31 May 2024
Fair Accountancy Services
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 04752344
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 5 1,098 1,411
1,098 1,411
CURRENT ASSETS
Stocks 6 7,000 7,451
Debtors 7 12,758 7,600
Cash at bank and in hand 39,114 49,744
58,872 64,795
Creditors: Amounts Falling Due Within One Year 8 (4,791 ) (9,168 )
NET CURRENT ASSETS (LIABILITIES) 54,081 55,627
TOTAL ASSETS LESS CURRENT LIABILITIES 55,179 57,038
NET ASSETS 55,179 57,038
CAPITAL AND RESERVES
Called up share capital 10 100 100
Profit and Loss Account 55,079 56,938
SHAREHOLDERS' FUNDS 55,179 57,038
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For the year ending 31 May 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 Karl Brady
Director
18/10/2024
The notes on pages 3 to 5 form part of these financial statements.
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Page 3
Notes to the Financial Statements
1. General Information
g & K Brady Limited is a private company, limited by shares, incorporated in England & Wales, registered number 04752344 . The registered office is 169 Long Road, Lowestoft, Suffolk, NR33 9DE.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements are prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008).
2.2. Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
2.3. Intangible Fixed Assets and Amortisation - Goodwill
Goodwill is the difference between amounts paid on the acquisition of a business and the fair value of the separable net assets. It is amortised to profit and loss account over its estimated economic life of 20 years.
2.4. Tangible Fixed Assets and Depreciation
Tangible fixed assets are stated at cost less depreciation. 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:
Plant & Machinery 15%
Motor Vehicles 25%
Fixtures & Fittings 15%
Computer Equipment 25%
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.
2.6. 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 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.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 1 (2023: 1)
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4. Intangible Assets
Goodwill
£
Cost
As at 1 June 2023 25,000
As at 31 May 2024 25,000
Amortisation
As at 1 June 2023 25,000
As at 31 May 2024 25,000
Net Book Value
As at 31 May 2024 -
As at 1 June 2023 -
5. Tangible Assets
Plant & Machinery Motor Vehicles Fixtures & Fittings Computer Equipment Total
£ £ £ £ £
Cost
As at 1 June 2023 3,963 13,784 1,250 3,446 22,443
As at 31 May 2024 3,963 13,784 1,250 3,446 22,443
Depreciation
As at 1 June 2023 3,620 13,201 1,207 3,004 21,032
Provided during the period 51 146 6 110 313
As at 31 May 2024 3,671 13,347 1,213 3,114 21,345
Net Book Value
As at 31 May 2024 292 437 37 332 1,098
As at 1 June 2023 343 583 43 442 1,411
6. Stocks
2024 2023
£ £
Stock & Work in Progress 7,000 7,451
7. Debtors
2024 2023
£ £
Due within one year
Trade debtors 6,392 546
CIS Deductions (recoverable) 5,857 5,550
VAT 509 1,504
12,758 7,600
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8. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 3,166 6,451
Corporation tax 1,045 2,167
Accruals and deferred income 580 550
4,791 9,168
9. Deferred Taxation
The provision for deferred tax is made up as follows:
10. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 100 100
11. Dividends
2024 2023
£ £
On equity shares:
Final dividend paid 6,000 5,000
12. Ultimate Controlling Party
The company was under the control of Mr K J Brady and Mrs T Brady as holders of the share capital thoughout the current and previous years.
The company operates a Loan account with the Directors and the balance as at 31 May 2014 was (31 May 2013 £41,929)
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