Acorah Software Products - Accounts Production 16.1.200 false true 30 April 2023 1 May 2022 false 1 May 2023 30 April 2024 30 April 2024 07497470 Mr Geoffrey Douglas iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 07497470 2023-04-30 07497470 2024-04-30 07497470 2023-05-01 2024-04-30 07497470 frs-core:CurrentFinancialInstruments 2024-04-30 07497470 frs-core:ComputerEquipment 2024-04-30 07497470 frs-core:ComputerEquipment 2023-05-01 2024-04-30 07497470 frs-core:ComputerEquipment 2023-04-30 07497470 frs-core:NetGoodwill 2024-04-30 07497470 frs-core:NetGoodwill 2023-05-01 2024-04-30 07497470 frs-core:NetGoodwill 2023-04-30 07497470 frs-core:LandBuildings frs-core:OwnedOrFreeholdAssets 2024-04-30 07497470 frs-core:LandBuildings frs-core:OwnedOrFreeholdAssets 2023-05-01 2024-04-30 07497470 frs-core:LandBuildings frs-core:OwnedOrFreeholdAssets 2023-04-30 07497470 frs-core:MotorVehicles 2023-05-01 2024-04-30 07497470 frs-core:PlantMachinery 2024-04-30 07497470 frs-core:PlantMachinery 2023-05-01 2024-04-30 07497470 frs-core:PlantMachinery 2023-04-30 07497470 frs-core:ShareCapital 2024-04-30 07497470 frs-core:RetainedEarningsAccumulatedLosses 2024-04-30 07497470 frs-bus:PrivateLimitedCompanyLtd 2023-05-01 2024-04-30 07497470 frs-bus:FilletedAccounts 2023-05-01 2024-04-30 07497470 frs-bus:SmallEntities 2023-05-01 2024-04-30 07497470 frs-bus:AuditExempt-NoAccountantsReport 2023-05-01 2024-04-30 07497470 frs-bus:SmallCompaniesRegimeForAccounts 2023-05-01 2024-04-30 07497470 frs-bus:Director1 2023-05-01 2024-04-30 07497470 frs-countries:EnglandWales 2023-05-01 2024-04-30 07497470 2022-04-30 07497470 2023-04-30 07497470 2022-05-01 2023-04-30 07497470 frs-core:CurrentFinancialInstruments 2023-04-30 07497470 frs-core:ShareCapital 2023-04-30 07497470 frs-core:RetainedEarningsAccumulatedLosses 2023-04-30
Registered number: 07497470
G & B Farms Limited
Unaudited Financial Statements
For The Year Ended 30 April 2024
Harrisons Accountancy Services
Grapha Farm
Caistor Road
Market Rasen
Lincolnshire
LN8 3FD
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 07497470
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 5 135,475 141,001
135,475 141,001
CURRENT ASSETS
Stocks 6 11,195 2,250
Cash at bank and in hand 2,131 3,237
13,326 5,487
Creditors: Amounts Falling Due Within One Year 7 (258,217 ) (246,622 )
NET CURRENT ASSETS (LIABILITIES) (244,891 ) (241,135 )
TOTAL ASSETS LESS CURRENT LIABILITIES (109,416 ) (100,134 )
PROVISIONS FOR LIABILITIES
Deferred Taxation - (4,585 )
NET LIABILITIES (109,416 ) (104,719 )
CAPITAL AND RESERVES
Called up share capital 8 100 100
Profit and Loss Account (109,516 ) (104,819 )
SHAREHOLDERS' FUNDS (109,416) (104,719)
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For the year ending 30 April 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his 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 Geoffrey Douglas
Director
31/12/2024
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
G & B Farms Limited is a private company, limited by shares, incorporated in England & Wales, registered number 07497470 . The registered office is Highgate Farm, Highgate Lane, Normanby by Spital, Market Rasen, Lincolnshire, LN8 2HQ.
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. 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.
2.3. 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:
Freehold No depreciation provided
Plant & Machinery 15% reducing balance
Motor Vehicles 25% reducing balance
Computer Equipment 15% reducing balance
2.4. 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.
2.5. 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 and deferred tax are recognised in profit or loss for the year, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case current and deferred tax are 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: 1 (2023: 1)
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4. Intangible Assets
Goodwill
£
Cost
As at 1 May 2023 650,000
As at 30 April 2024 650,000
Amortisation
As at 1 May 2023 650,000
As at 30 April 2024 650,000
Net Book Value
As at 30 April 2024 -
As at 1 May 2023 -
5. Tangible Assets
Land & Property
Freehold Plant & Machinery Computer Equipment Total
£ £ £ £
Cost
As at 1 May 2023 106,605 154,611 791 262,007
As at 30 April 2024 106,605 154,611 791 262,007
Depreciation
As at 1 May 2023 - 120,426 580 121,006
Provided during the period - 5,494 32 5,526
As at 30 April 2024 - 125,920 612 126,532
Net Book Value
As at 30 April 2024 106,605 28,691 179 135,475
As at 1 May 2023 106,605 34,185 211 141,001
6. Stocks
2024 2023
£ £
Stock 11,195 2,250
7. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
VAT 1,954 2,508
Other creditors 1,345 62
Accruals and deferred income 800 1,132
Director's loan account 254,118 242,920
258,217 246,622
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8. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 100 100
9. Going concern
Although the balance sheet is insolvent there is a directors loan account owing to Mr G Douglas of £254188 and he will not withdraw this to the detriment of any creditors.
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