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 04785298 Mr J Earley Miss J Lord iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 04785298 2023-03-31 04785298 2024-03-31 04785298 2023-04-01 2024-03-31 04785298 frs-core:CurrentFinancialInstruments 2024-03-31 04785298 frs-core:NetGoodwill 2024-03-31 04785298 frs-core:NetGoodwill 2023-04-01 2024-03-31 04785298 frs-core:NetGoodwill 2023-03-31 04785298 frs-core:MotorVehicles 2024-03-31 04785298 frs-core:MotorVehicles 2023-04-01 2024-03-31 04785298 frs-core:MotorVehicles 2023-03-31 04785298 frs-core:PlantMachinery 2024-03-31 04785298 frs-core:PlantMachinery 2023-04-01 2024-03-31 04785298 frs-core:PlantMachinery 2023-03-31 04785298 frs-core:ShareCapital 2024-03-31 04785298 frs-core:RetainedEarningsAccumulatedLosses 2024-03-31 04785298 frs-bus:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 04785298 frs-bus:FilletedAccounts 2023-04-01 2024-03-31 04785298 frs-bus:SmallEntities 2023-04-01 2024-03-31 04785298 frs-bus:AuditExempt-NoAccountantsReport 2023-04-01 2024-03-31 04785298 frs-bus:SmallCompaniesRegimeForAccounts 2023-04-01 2024-03-31 04785298 frs-bus:Director1 2023-04-01 2024-03-31 04785298 frs-bus:Director1 2023-03-31 04785298 frs-bus:Director1 2024-03-31 04785298 frs-bus:Director2 2023-04-01 2024-03-31 04785298 frs-countries:EnglandWales 2023-04-01 2024-03-31 04785298 2022-03-31 04785298 2023-03-31 04785298 2022-04-01 2023-03-31 04785298 frs-core:CurrentFinancialInstruments 2023-03-31 04785298 frs-core:ShareCapital 2023-03-31 04785298 frs-core:RetainedEarningsAccumulatedLosses 2023-03-31
Registered number: 04785298
Generator Electrical Mechanical Services Ltd.
Unaudited Financial Statements
For The Year Ended 31 March 2024
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 04785298
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 5 23,502 13,448
23,502 13,448
CURRENT ASSETS
Stocks 6 16,004 26,580
Debtors 7 43,523 31,292
Cash at bank and in hand 10,934 32,297
70,461 90,169
Creditors: Amounts Falling Due Within One Year 8 (16,254 ) (31,123 )
NET CURRENT ASSETS (LIABILITIES) 54,207 59,046
TOTAL ASSETS LESS CURRENT LIABILITIES 77,709 72,494
NET ASSETS 77,709 72,494
CAPITAL AND RESERVES
Called up share capital 9 250 250
Profit and Loss Account 77,459 72,244
SHAREHOLDERS' FUNDS 77,709 72,494
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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 J Earley
Director
20 November 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
Generator Electrical Mechanical Services Ltd. is a private company, limited by shares, incorporated in England & Wales, registered number 04785298 . The registered office is Unit 9 New Quay Street, Teignmouth, Devon, TQ14 8DA.
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 5 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:
Plant & Machinery 25% reducing balance
Motor Vehicles 25% reducing balance
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. 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.
2.6. 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.
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3. Average Number of Employees
Average number of employees, including directors, during the year was: 4 (2023: 4)
4 4
4. Intangible Assets
Goodwill
£
Cost
As at 1 April 2023 12,000
As at 31 March 2024 12,000
Amortisation
As at 1 April 2023 12,000
As at 31 March 2024 12,000
Net Book Value
As at 31 March 2024 -
As at 1 April 2023 -
5. Tangible Assets
Plant & Machinery Motor Vehicles Total
£ £ £
Cost
As at 1 April 2023 18,997 60,875 79,872
Additions - 19,250 19,250
Disposals - (17,075 ) (17,075 )
As at 31 March 2024 18,997 63,050 82,047
Depreciation
As at 1 April 2023 17,142 49,282 66,424
Provided during the period 524 7,390 7,914
Disposals - (15,793 ) (15,793 )
As at 31 March 2024 17,666 40,879 58,545
Net Book Value
As at 31 March 2024 1,331 22,171 23,502
As at 1 April 2023 1,855 11,593 13,448
6. Stocks
2024 2023
£ £
Materials 13,000 13,000
Work in progress 3,004 13,580
16,004 26,580
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7. Debtors
2024 2023
£ £
Due within one year
Trade debtors 41,382 25,038
Prepayments and accrued income 2,141 2,141
Directors' loan accounts - 4,113
43,523 31,292
8. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 8,027 8,817
Corporation tax 38 7,837
Other taxes and social security 2,326 10,316
VAT 2,534 -
Other creditors 1,689 4,153
Directors' loan accounts 1,640 -
16,254 31,123
9. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 250 250
10. Directors Advances, Credits and Guarantees
Included within Debtors are the following loans to directors:
As at 1 April 2023 Amounts advanced Amounts repaid Amounts written off As at 31 March 2024
£ £ £ £ £
Mr James Earley 4,113 - (5,753 ) - (1,640 )
The above loan is unsecured, interest free and repayable on demand.
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