Acorah Software Products - Accounts Production 16.1.200 false true 31 May 2023 1 June 2022 false 1 June 2023 31 May 2024 31 May 2024 09661121 A J Young C S Young iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 09661121 2023-05-31 09661121 2024-05-31 09661121 2023-06-01 2024-05-31 09661121 frs-core:CurrentFinancialInstruments 2024-05-31 09661121 frs-core:ComputerEquipment 2024-05-31 09661121 frs-core:ComputerEquipment 2023-06-01 2024-05-31 09661121 frs-core:ComputerEquipment 2023-05-31 09661121 frs-core:DevelopmentCostsCapitalisedDevelopmentExpenditure 2023-06-01 2024-05-31 09661121 frs-core:FurnitureFittings 2024-05-31 09661121 frs-core:FurnitureFittings 2023-06-01 2024-05-31 09661121 frs-core:FurnitureFittings 2023-05-31 09661121 frs-core:OtherResidualIntangibleAssets 2024-05-31 09661121 frs-core:OtherResidualIntangibleAssets 2023-06-01 2024-05-31 09661121 frs-core:OtherResidualIntangibleAssets 2023-05-31 09661121 frs-core:PlantMachinery 2024-05-31 09661121 frs-core:PlantMachinery 2023-06-01 2024-05-31 09661121 frs-core:PlantMachinery 2023-05-31 09661121 frs-core:ShareCapital 2024-05-31 09661121 frs-core:RetainedEarningsAccumulatedLosses 2024-05-31 09661121 frs-bus:PrivateLimitedCompanyLtd 2023-06-01 2024-05-31 09661121 frs-bus:FilletedAccounts 2023-06-01 2024-05-31 09661121 frs-bus:SmallEntities 2023-06-01 2024-05-31 09661121 frs-bus:AuditExempt-NoAccountantsReport 2023-06-01 2024-05-31 09661121 frs-bus:SmallCompaniesRegimeForAccounts 2023-06-01 2024-05-31 09661121 frs-bus:Director1 2023-06-01 2024-05-31 09661121 frs-bus:Director2 2023-06-01 2024-05-31 09661121 frs-countries:EnglandWales 2023-06-01 2024-05-31 09661121 2022-05-31 09661121 2023-05-31 09661121 2022-06-01 2023-05-31 09661121 frs-core:CurrentFinancialInstruments 2023-05-31 09661121 frs-core:ShareCapital 2023-05-31 09661121 frs-core:RetainedEarningsAccumulatedLosses 2023-05-31
Registered number: 09661121
Ginger Automotive Ltd
Financial Statements
For The Year Ended 31 May 2024
Gravitate Accounting
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 09661121
2024 2023
Notes £ £ £ £
FIXED ASSETS
Intangible Assets 4 4,835 2,260
Tangible Assets 5 17,826 1,759
22,661 4,019
CURRENT ASSETS
Stocks 6 20,000 -
Debtors 7 90,130 123,077
Cash at bank and in hand 638,081 374,686
748,211 497,763
Creditors: Amounts Falling Due Within One Year 8 (714,749 ) (424,019 )
NET CURRENT ASSETS (LIABILITIES) 33,462 73,744
TOTAL ASSETS LESS CURRENT LIABILITIES 56,123 77,763
NET ASSETS 56,123 77,763
CAPITAL AND RESERVES
Called up share capital 9 100 100
Profit and Loss Account 56,023 77,663
SHAREHOLDERS' FUNDS 56,123 77,763
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For the year ending 31 May 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
A J Young
Director
7th January 2025
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
Ginger Automotive Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 09661121 . The registered office is Ground Floor, 35 Lambert Street, Sheffield, South Yorkshire, S3 7BH.
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.
2.3. Intangible Fixed Assets and Amortisation - Other Intangible
Other intangible assets are trademarks purchased. 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 20% Straight Line
Fixtures & Fittings 15% Reducing Balance
Computer Equipment 15% Straight Line
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 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.
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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.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 5 (2023: 4)
5 4
4. Intangible Assets
Other
£
Cost
As at 1 June 2023 3,136
Additions 3,210
As at 31 May 2024 6,346
Amortisation
As at 1 June 2023 876
Provided during the period 635
As at 31 May 2024 1,511
Net Book Value
As at 31 May 2024 4,835
As at 1 June 2023 2,260
5. Tangible Assets
Plant & Machinery Fixtures & Fittings Computer Equipment Total
£ £ £ £
Cost
As at 1 June 2023 - 988 1,213 2,201
Additions 224 12,025 5,877 18,126
As at 31 May 2024 224 13,013 7,090 20,327
Depreciation
As at 1 June 2023 - 201 241 442
Provided during the period 30 1,276 753 2,059
As at 31 May 2024 30 1,477 994 2,501
Net Book Value
As at 31 May 2024 194 11,536 6,096 17,826
As at 1 June 2023 - 787 972 1,759
6. Stocks
2024 2023
£ £
Stock 20,000 -
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7. Debtors
2024 2023
£ £
Due within one year
Trade debtors 51,916 58,722
Other debtors 38,214 64,355
90,130 123,077
8. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 260,848 201,028
Other creditors 453,901 222,991
714,749 424,019
9. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 100 100
10. Related Party Transactions
Included within other creditors are loans from related parties amounting to £472. These loans are unsecured, interest free and repayable on demand.
Included within trade creditors are amounts owed to related parties amounting to £7,200. These amounts are unsecured, interest free and repayable on demand.
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