Acorah Software Products - Accounts Production 15.0.600 false true 31 March 2023 1 April 2022 false 1 April 2023 31 March 2024 31 March 2024 11115048 Mrs Janet Hodge Mr Timothy Hodge iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 11115048 2023-03-31 11115048 2024-03-31 11115048 2023-04-01 2024-03-31 11115048 frs-core:CurrentFinancialInstruments 2024-03-31 11115048 frs-core:ComputerEquipment 2024-03-31 11115048 frs-core:ComputerEquipment 2023-04-01 2024-03-31 11115048 frs-core:ComputerEquipment 2023-03-31 11115048 frs-core:FurnitureFittings 2024-03-31 11115048 frs-core:FurnitureFittings 2023-04-01 2024-03-31 11115048 frs-core:FurnitureFittings 2023-03-31 11115048 frs-core:MotorVehicles 2024-03-31 11115048 frs-core:MotorVehicles 2023-04-01 2024-03-31 11115048 frs-core:MotorVehicles 2023-03-31 11115048 frs-core:OtherReservesSubtotal 2024-03-31 11115048 frs-core:ShareCapital 2024-03-31 11115048 frs-core:RetainedEarningsAccumulatedLosses 2024-03-31 11115048 frs-bus:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 11115048 frs-bus:FilletedAccounts 2023-04-01 2024-03-31 11115048 frs-bus:SmallEntities 2023-04-01 2024-03-31 11115048 frs-bus:AuditExempt-NoAccountantsReport 2023-04-01 2024-03-31 11115048 frs-bus:SmallCompaniesRegimeForAccounts 2023-04-01 2024-03-31 11115048 frs-bus:Director1 2023-04-01 2024-03-31 11115048 frs-bus:Director2 2023-04-01 2024-03-31 11115048 frs-countries:EnglandWales 2023-04-01 2024-03-31 11115048 2022-03-31 11115048 2023-03-31 11115048 2022-04-01 2023-03-31 11115048 frs-core:CurrentFinancialInstruments 2023-03-31 11115048 frs-core:OtherReservesSubtotal 2023-03-31 11115048 frs-core:ShareCapital 2023-03-31 11115048 frs-core:RetainedEarningsAccumulatedLosses 2023-03-31
Registered number: 11115048
Gate Technologies Af Limited
Unaudited Financial Statements
For The Year Ended 31 March 2024
Time Accounts Ltd
Basepoint Business Centre
Little High Street
Shoreham-By-Sea
West Sussex
BN43 5EG
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 11115048
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 38,505 47,152
38,505 47,152
CURRENT ASSETS
Debtors 5 195,903 119,437
Cash at bank and in hand 823,785 788,015
1,019,688 907,452
Creditors: Amounts Falling Due Within One Year 6 (197,819 ) (77,003 )
NET CURRENT ASSETS (LIABILITIES) 821,869 830,449
TOTAL ASSETS LESS CURRENT LIABILITIES 860,374 877,601
NET ASSETS 860,374 877,601
CAPITAL AND RESERVES
Called up share capital 7 20 20
Other reserves 4,300 8,591
Profit and Loss Account 856,054 868,990
SHAREHOLDERS' FUNDS 860,374 877,601
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For the year ending 31 March 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 Timothy Hodge
Director
30/10/2024
The notes on pages 3 to 5 form part of these financial statements.
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Notes to the Financial Statements
1. General Information
Gate Technologies Af Limited is a private company, limited by shares, incorporated in England & Wales, registered number 11115048 . The registered office is 22 Lawrence Road, Hove, BN3 5QB.
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:
Motor Vehicles 20% Reducing balance method
Fixtures & Fittings 25% Reducing balance method
Computer Equipment 25% Reducing balance method
2.4. Leasing and Hire Purchase Contracts
Assets obtained under finance leases are capitalised as tangible fixed assets. Assets acquired under finance leases are depreciated over the shorter of the lease term and their useful lives. Assets acquired under hire purchase contracts are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in the creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.

Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to profit and loss account as incurred.
2.5. 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.
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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 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.
2.7. Pensions
The company operates a defined pension contribution scheme. Contributions are charged to the profit and loss account as they become payable in accordance with the rules of the scheme.
2.8. Trade Debtors
Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary
course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost
using the effective interest method, less provision for impairment. A provision for the impairment of trade
debtors is established when there is objective evidence that the company will not be able to collect all amounts
due according to the original terms of the receivables.
2.9. Trade creditors
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of
business from suppliers. Accounts payable are classified as current liabilities if the company does not have an
unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve
months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months
after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost
using the effective interest method.
2.10. Share capital
Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other
resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred
and the time value of money is material, the initial measurement is on a present value basis.
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
Motor Vehicles Fixtures & Fittings Computer Equipment Total
£ £ £ £
Cost
As at 1 April 2023 54,300 340 - 54,640
Additions - - 880 880
As at 31 March 2024 54,300 340 880 55,520
Depreciation
As at 1 April 2023 7,240 248 - 7,488
Provided during the period 9,412 23 92 9,527
As at 31 March 2024 16,652 271 92 17,015
Net Book Value
As at 31 March 2024 37,648 69 788 38,505
As at 1 April 2023 47,060 92 - 47,152
5. Debtors
2024 2023
£ £
Due within one year
Trade debtors 175,103 111,112
Prepayments and accrued income 4,673 6,486
VAT 16,127 1,839
195,903 119,437
6. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 156,503 25,311
Corporation tax 4,093 41,122
Other taxes and social security 3,753 2,989
Accruals and deferred income 2,089 6,199
Directors' loan accounts 31,381 1,382
197,819 77,003
7. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 20 20
8. Reserves
Other Reserves relates to unrealised gain or loss on foreign transactions converted from the base currency to GBP using the prevailing rate at the financial year end. 
9. Related Party Transactions
At the balance sheet date, the company owed Mr Timothy Hodge a director £31,380 (2023 : £1,382) in interest free loan which is repayable on demand.
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