Acorah Software Products - Accounts Production 16.0.110 false true 31 March 2023 1 April 2022 false 1 April 2023 31 March 2024 31 March 2024 08349912 Mr Jonathan Gowing Mrs Sarah Gowing iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 08349912 2023-03-31 08349912 2024-03-31 08349912 2023-04-01 2024-03-31 08349912 frs-core:CurrentFinancialInstruments 2024-03-31 08349912 frs-core:Non-currentFinancialInstruments 2024-03-31 08349912 frs-core:BetweenOneFiveYears 2024-03-31 08349912 frs-core:ComputerEquipment 2024-03-31 08349912 frs-core:ComputerEquipment 2023-04-01 2024-03-31 08349912 frs-core:ComputerEquipment 2023-03-31 08349912 frs-core:FurnitureFittings 2024-03-31 08349912 frs-core:FurnitureFittings 2023-04-01 2024-03-31 08349912 frs-core:FurnitureFittings 2023-03-31 08349912 frs-core:NetGoodwill 2024-03-31 08349912 frs-core:NetGoodwill 2023-04-01 2024-03-31 08349912 frs-core:NetGoodwill 2023-03-31 08349912 frs-core:LandBuildings frs-core:OwnedOrFreeholdAssets 2024-03-31 08349912 frs-core:LandBuildings frs-core:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 08349912 frs-core:LandBuildings frs-core:OwnedOrFreeholdAssets 2023-03-31 08349912 frs-core:MotorVehicles 2024-03-31 08349912 frs-core:MotorVehicles 2023-04-01 2024-03-31 08349912 frs-core:MotorVehicles 2023-03-31 08349912 frs-core:PlantMachinery 2024-03-31 08349912 frs-core:PlantMachinery 2023-04-01 2024-03-31 08349912 frs-core:PlantMachinery 2023-03-31 08349912 frs-core:WithinOneYear 2024-03-31 08349912 frs-core:ShareCapital 2024-03-31 08349912 frs-core:RetainedEarningsAccumulatedLosses 2024-03-31 08349912 frs-bus:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 08349912 frs-bus:FilletedAccounts 2023-04-01 2024-03-31 08349912 frs-bus:SmallEntities 2023-04-01 2024-03-31 08349912 frs-bus:AuditExempt-NoAccountantsReport 2023-04-01 2024-03-31 08349912 frs-bus:SmallCompaniesRegimeForAccounts 2023-04-01 2024-03-31 08349912 frs-bus:Director1 2023-04-01 2024-03-31 08349912 frs-bus:Director2 2023-04-01 2024-03-31 08349912 frs-countries:EnglandWales 2023-04-01 2024-03-31 08349912 2022-03-31 08349912 2023-03-31 08349912 2022-04-01 2023-03-31 08349912 frs-core:CurrentFinancialInstruments 2023-03-31 08349912 frs-core:Non-currentFinancialInstruments 2023-03-31 08349912 frs-core:BetweenOneFiveYears 2023-03-31 08349912 frs-core:WithinOneYear 2023-03-31 08349912 frs-core:ShareCapital 2023-03-31 08349912 frs-core:RetainedEarningsAccumulatedLosses 2023-03-31
Registered number: 08349912
G Engineering Limited
Unaudited Financial Statements
For The Year Ended 31 March 2024
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—7
Page 1
Balance Sheet
Registered number: 08349912
2024 2023
Notes £ £ £ £
FIXED ASSETS
Intangible Assets 4 70,000 78,000
Tangible Assets 5 829,739 514,251
899,739 592,251
CURRENT ASSETS
Stocks 6 25,300 26,800
Debtors 7 138,797 99,798
Cash at bank and in hand 266,251 169,641
430,348 296,239
Creditors: Amounts Falling Due Within One Year 8 (542,335 ) (164,278 )
NET CURRENT ASSETS (LIABILITIES) (111,987 ) 131,961
TOTAL ASSETS LESS CURRENT LIABILITIES 787,752 724,212
Creditors: Amounts Falling Due After More Than One Year 9 (8,824 ) (21,739 )
PROVISIONS FOR LIABILITIES
Deferred Taxation (41,480 ) (39,154 )
NET ASSETS 737,448 663,319
CAPITAL AND RESERVES
Called up share capital 11 1,000 1,000
Profit and Loss Account 736,448 662,319
SHAREHOLDERS' FUNDS 737,448 663,319
Page 1
Page 2
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 Jonathan Gowing
Director
31/10/2024
The notes on pages 3 to 7 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
G Engineering Limited is a private company, limited by shares, incorporated in England & Wales, registered number 08349912 . The registered office is Georgian House, 34 Thoroughfare, Halesworth, Suffolk, IP19 8AP.
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. 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 .... years.
2.4. 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 2% on cost
Plant & Machinery 15% on reducing balance
Motor Vehicles 25% on reducing balance
Fixtures & Fittings 15% on reducing balance
Computer Equipment 15% on reducing balance
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2.5. 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.
2.6. 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.
2.7. 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: 5 (2023: 5)
5 5
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4. Intangible Assets
Goodwill
£
Cost
As at 1 April 2023 160,000
As at 31 March 2024 160,000
Amortisation
As at 1 April 2023 82,000
Provided during the period 8,000
As at 31 March 2024 90,000
Net Book Value
As at 31 March 2024 70,000
As at 1 April 2023 78,000
5. Tangible Assets
Land & Property
Freehold Plant & Machinery Motor Vehicles Fixtures & Fittings
£ £ £ £
Cost
As at 1 April 2023 312,711 240,686 120,834 24,754
Additions 313,323 29,583 21,254 -
As at 31 March 2024 626,034 270,269 142,088 24,754
Depreciation
As at 1 April 2023 13,168 117,757 47,522 11,833
Provided during the period 9,558 19,753 21,574 1,938
Disposals - - (4,983 ) -
As at 31 March 2024 22,726 137,510 64,113 13,771
Net Book Value
As at 31 March 2024 603,308 132,759 77,975 10,983
As at 1 April 2023 299,543 122,929 73,312 12,921
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Computer Equipment Total
£ £
Cost
As at 1 April 2023 8,129 707,114
Additions - 364,160
As at 31 March 2024 8,129 1,071,274
Depreciation
As at 1 April 2023 2,583 192,863
Provided during the period 832 53,655
Disposals - (4,983 )
As at 31 March 2024 3,415 241,535
Net Book Value
As at 31 March 2024 4,714 829,739
As at 1 April 2023 5,546 514,251
6. Stocks
2024 2023
£ £
Stock 25,300 26,800
7. Debtors
2024 2023
£ £
Due within one year
Trade debtors 138,233 99,312
Prepayments and accrued income 564 486
138,797 99,798
8. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Net obligations under finance lease and hire purchase contracts 13,689 13,116
Trade creditors 256,303 62,355
Bank loans and overdrafts 145,340 10,000
Corporation tax 39,612 26,173
VAT 10,001 17,435
...CONTINUED
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Other creditors 6,550 5,262
Accruals and deferred income 2,848 2,697
Directors' loan accounts 67,992 27,240
542,335 164,278
9. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Net obligations under finance lease and hire purchase contracts 8,824 14,540
Bank loans - 1-2 years - 7,199
8,824 21,739
10. Obligations Under Finance Leases and Hire Purchase
2024 2023
£ £
The future minimum finance lease payments are as follows:
Not later than one year 13,689 13,116
Later than one year and not later than five years 8,824 14,540
22,513 27,656
22,513 27,656
11. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 1,000 1,000
12. Dividends
2024 2023
£ £
On equity shares:
Interim dividend paid 42,000 42,000
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