Acorah Software Products - Accounts Production 15.0.600 false true true 31 December 2022 1 January 2022 false 1 January 2023 31 December 2023 31 December 2023 09559762 K Kyriacou E Lane iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 09559762 2022-12-31 09559762 2023-12-31 09559762 2023-01-01 2023-12-31 09559762 frs-core:CurrentFinancialInstruments 2023-12-31 09559762 frs-core:Non-currentFinancialInstruments 2023-12-31 09559762 frs-core:ShareCapital 2023-12-31 09559762 frs-core:RetainedEarningsAccumulatedLosses 2023-12-31 09559762 frs-bus:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 09559762 frs-bus:FilletedAccounts 2023-01-01 2023-12-31 09559762 frs-bus:SmallEntities 2023-01-01 2023-12-31 09559762 frs-bus:AuditExempt-NoAccountantsReport 2023-01-01 2023-12-31 09559762 frs-bus:SmallCompaniesRegimeForAccounts 2023-01-01 2023-12-31 09559762 frs-core:CostValuation 2022-12-31 09559762 frs-core:CostValuation 2023-12-31 09559762 frs-core:ProvisionsForImpairmentInvestments 2022-12-31 09559762 frs-core:ProvisionsForImpairmentInvestments 2023-12-31 09559762 frs-bus:Director1 2023-01-01 2023-12-31 09559762 frs-bus:Director2 2023-01-01 2023-12-31 09559762 frs-countries:EnglandWales 2023-01-01 2023-12-31 09559762 2021-12-31 09559762 2022-12-31 09559762 2022-01-01 2022-12-31 09559762 frs-core:CurrentFinancialInstruments 2022-12-31 09559762 frs-core:Non-currentFinancialInstruments 2022-12-31 09559762 frs-core:ShareCapital 2022-12-31 09559762 frs-core:RetainedEarningsAccumulatedLosses 2022-12-31
GLEK Holdings Ltd
Unaudited Financial Statements
For The Year Ended 31 December 2023
Contents
Page
Company Information 1
Balance Sheet 2—3
Notes to the Financial Statements 4—5
Page 1
Company Information
Directors K Kyriacou
E Lane
Company Number 09559762
Registered Office 2nd Floor Butler House
177-178 Tottenham Court Road
London
W1T 7AF
Accountants Jones & Partners Limited
2nd Floor, Butler House
177-178 Tottenham Court Road
London
W1T 7AF
Page 1
Page 2
Balance Sheet
Registered number: 09559762
2023 2022
Notes £ £ £ £
FIXED ASSETS
Investments 4 1,200,000 1,200,000
1,200,000 1,200,000
CURRENT ASSETS
Debtors 5 133,268 133,268
Cash at bank and in hand 14,787 14,787
148,055 148,055
Creditors: Amounts Falling Due Within One Year 6 (1,269,080 ) (700,000 )
NET CURRENT ASSETS (LIABILITIES) (1,121,025 ) (551,945 )
TOTAL ASSETS LESS CURRENT LIABILITIES 78,975 648,055
Creditors: Amounts Falling Due After More Than One Year 7 - (604,720 )
NET ASSETS 78,975 43,335
CAPITAL AND RESERVES
Called up share capital 8 10 10
Profit and Loss Account 78,965 43,325
SHAREHOLDERS' FUNDS 78,975 43,335
Page 2
Page 3
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 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.
The financial statements were approved by the board of directors on 30 October 2024 and were signed on its behalf by:
K Kyriacou
Director
30 October 2024
The notes on pages 4 to 5 form part of these financial statements.
Page 3
Page 4
Notes to the Financial Statements
1. General Information
GLEK Holdings Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 09559762 . The registered office is 2nd Floor Butler House, 177-178 Tottenham Court Road , London, W1T 7AF.
The presentation currency of the financial statements is the Pound Sterling (£).
Monetary amounts in these financial statements are rounded to the nearest £.
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. Going Concern Disclosure
The directors are closely monitoring the activities of the company and have received confirmation from the shareholders of the company that they will continue to support the operations of the company for the foreseeable future to allow it to be able to meet its own liabilities as they fall due.
On the basis of their assessment of the company's financial position, the directors have reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future.
Based on the directors' assessment, the company continues to adopt the going concern basis in preparing the financial statements
2.3. 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.
2.4. Preparation of consolidated financial statements
The company has taken advantage of the exemption under section 399 of the Companies Act 2006 not to prepare consolidated accounts, on the basis that the group of which this is the parent qualifies as a small group. The financial statements present information about the company as an individual entity and not about its group.
2.5. Investments in subsidiaries
Investments in subsidiary undertakings are recognised at cost.
3. Average Number of Employees
Average number of employees, including directors, during the year was: NIL (2022: NIL)
- -
Page 4
Page 5
4. Investments
Subsidiaries
£
Cost
As at 1 January 2023 1,200,000
As at 31 December 2023 1,200,000
Provision
As at 1 January 2023 -
As at 31 December 2023 -
Net Book Value
As at 31 December 2023 1,200,000
As at 1 January 2023 1,200,000
5. Debtors
2023 2022
£ £
Due after more than one year
Amounts owed by group undertakings 133,268 133,268
6. Creditors: Amounts Falling Due Within One Year
2023 2022
£ £
Amounts owed to group undertakings 350,065 345,045
Other creditors 919,015 354,855
Taxation and social security - 100
1,269,080 700,000
7. Creditors: Amounts Falling Due After More Than One Year
2023 2022
£ £
Other creditors - 604,720
8. Share Capital
2023 2022
£ £
Allotted, Called up and fully paid 10 10
Page 5