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 08371076 Mr Gary Harrison Mrs Charlotte Harrison iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 08371076 2023-03-31 08371076 2024-03-31 08371076 2023-04-01 2024-03-31 08371076 frs-core:Non-currentFinancialInstruments 2024-03-31 08371076 frs-core:ComputerEquipment 2023-04-01 2024-03-31 08371076 frs-core:FurnitureFittings 2023-04-01 2024-03-31 08371076 frs-core:NetGoodwill 2023-04-01 2024-03-31 08371076 frs-core:MotorVehicles 2023-04-01 2024-03-31 08371076 frs-core:PlantMachinery 2023-04-01 2024-03-31 08371076 frs-core:ShareCapital 2024-03-31 08371076 frs-core:RetainedEarningsAccumulatedLosses 2024-03-31 08371076 frs-bus:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 08371076 frs-bus:AbridgedAccounts 2023-04-01 2024-03-31 08371076 frs-bus:SmallEntities 2023-04-01 2024-03-31 08371076 frs-bus:AuditExempt-NoAccountantsReport 2023-04-01 2024-03-31 08371076 frs-bus:SmallCompaniesRegimeForAccounts 2023-04-01 2024-03-31 08371076 frs-bus:Director1 2023-04-01 2024-03-31 08371076 frs-bus:Director2 2023-04-01 2024-03-31 08371076 frs-countries:EnglandWales 2023-04-01 2024-03-31 08371076 2022-03-31 08371076 2023-03-31 08371076 2022-04-01 2023-03-31 08371076 frs-core:Non-currentFinancialInstruments 2023-03-31 08371076 frs-core:ShareCapital 2023-03-31 08371076 frs-core:RetainedEarningsAccumulatedLosses 2023-03-31
Registered number: 08371076
G and G Furniture Limited
Unaudited ABRIDGED Financial Statements
For The Year Ended 31 March 2024
Contents
Page
Abridged Balance Sheet 1—2
Notes to the Abridged Financial Statements 3—4
Page 1
Abridged Balance Sheet
Registered number: 08371076
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 5 228 1,200
228 1,200
CURRENT ASSETS
Stocks - 150
Debtors 2,559 2,204
2,559 2,354
Creditors: Amounts Falling Due Within One Year (63,582 ) (57,382 )
NET CURRENT ASSETS (LIABILITIES) (61,023 ) (55,028 )
TOTAL ASSETS LESS CURRENT LIABILITIES (60,795 ) (53,828 )
Creditors: Amounts Falling Due After More Than One Year (6,721 ) (9,704 )
NET LIABILITIES (67,516 ) (63,532 )
CAPITAL AND RESERVES
Called up share capital 6 100 100
Profit and Loss Account (67,616 ) (63,632 )
SHAREHOLDERS' FUNDS (67,516) (63,532)
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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.
All of the company's members have consented to the preparation of an Abridged Balance Sheet for the year end 31 March 2024 in accordance with section 444(2A) of the Companies Act 2006.
On behalf of the board
Mr Gary Harrison
Director
25/11/2024
The notes on pages 3 to 4 form part of these financial statements.
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Notes to the Abridged Financial Statements
1. General Information
G and G Furniture Limited is a private company, limited by shares, incorporated in England & Wales, registered number 08371076 . The registered office is 34 Vivary Road, Taunton, Somerset, TA1 3JP.
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 10 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
Fixtures & Fittings 25% Straight Line and 25% Reducing Balance
Computer Equipment 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. Government Grant
Government grants are recognised in the profit and loss account in an appropriate manner that matches them with the expenditure towards which they are intended to contribute.
Grants for immediate financial support or to cover costs already incurred are recognised immediately in the profit and loss account. Grants towards general activities of the entity over a specific period are recognised in the profit and loss account over that period.
Grants towards fixed assets are recognised over the expected useful lives of the related assets and are treated as deferred income and released to the profit and loss account over the useful life of the asset concerned.
All grants in the profit and loss account are recognised when all conditions for receipt have been complied with.
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3. Average Number of Employees
Average number of employees, including directors, during the year was:
2024 2023
Office and administration 2 2
2 2
4. Intangible Assets
Total
£
Cost
As at 1 April 2023 5,000
As at 31 March 2024 5,000
Amortisation
As at 1 April 2023 5,000
As at 31 March 2024 5,000
Net Book Value
As at 31 March 2024 -
As at 1 April 2023 -
5. Tangible Assets
Total
£
Cost
As at 1 April 2023 5,443
Disposals (2,561 )
As at 31 March 2024 2,882
Depreciation
As at 1 April 2023 4,243
Provided during the period (2,017 )
Disposals 428
As at 31 March 2024 2,654
Net Book Value
As at 31 March 2024 228
As at 1 April 2023 1,200
6. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 100 100
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