Acorah Software Products - Accounts Production 16.1.300 false true 31 May 2023 1 June 2022 false 1 June 2023 31 May 2024 31 May 2024 10650543 Mrs K L Lewis Mr I Petrovic iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 10650543 2023-05-31 10650543 2024-05-31 10650543 2023-06-01 2024-05-31 10650543 frs-core:CurrentFinancialInstruments 2024-05-31 10650543 frs-core:Non-currentFinancialInstruments 2024-05-31 10650543 frs-core:BetweenOneFiveYears 2024-05-31 10650543 frs-core:ComputerEquipment 2024-05-31 10650543 frs-core:ComputerEquipment 2023-06-01 2024-05-31 10650543 frs-core:ComputerEquipment 2023-05-31 10650543 frs-core:MotorVehicles 2024-05-31 10650543 frs-core:MotorVehicles 2023-06-01 2024-05-31 10650543 frs-core:MotorVehicles 2023-05-31 10650543 frs-core:PlantMachinery 2024-05-31 10650543 frs-core:PlantMachinery 2023-06-01 2024-05-31 10650543 frs-core:PlantMachinery 2023-05-31 10650543 frs-core:WithinOneYear 2024-05-31 10650543 frs-core:ShareCapital 2024-05-31 10650543 frs-core:RetainedEarningsAccumulatedLosses 2024-05-31 10650543 frs-bus:PrivateLimitedCompanyLtd 2023-06-01 2024-05-31 10650543 frs-bus:FilletedAccounts 2023-06-01 2024-05-31 10650543 frs-bus:SmallEntities 2023-06-01 2024-05-31 10650543 frs-bus:AuditExempt-NoAccountantsReport 2023-06-01 2024-05-31 10650543 frs-bus:SmallCompaniesRegimeForAccounts 2023-06-01 2024-05-31 10650543 frs-bus:Director1 2023-06-01 2024-05-31 10650543 frs-bus:Director2 2023-06-01 2024-05-31 10650543 frs-countries:EnglandWales 2023-06-01 2024-05-31 10650543 2022-05-31 10650543 2023-05-31 10650543 2022-06-01 2023-05-31 10650543 frs-core:CurrentFinancialInstruments 2023-05-31 10650543 frs-core:Non-currentFinancialInstruments 2023-05-31 10650543 frs-core:BetweenOneFiveYears 2023-05-31 10650543 frs-core:WithinOneYear 2023-05-31 10650543 frs-core:ShareCapital 2023-05-31 10650543 frs-core:RetainedEarningsAccumulatedLosses 2023-05-31
Registered number: 10650543
GCT Limited
Financial Statements
For The Year Ended 31 May 2024
Financial Statements
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 10650543
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 24,359 39,528
24,359 39,528
CURRENT ASSETS
Debtors 5 138,142 132,593
Cash at bank and in hand 150,705 262,058
288,847 394,651
Creditors: Amounts Falling Due Within One Year 6 (44,510 ) (56,855 )
NET CURRENT ASSETS (LIABILITIES) 244,337 337,796
TOTAL ASSETS LESS CURRENT LIABILITIES 268,696 377,324
Creditors: Amounts Falling Due After More Than One Year 7 (7,650 ) (37,211 )
PROVISIONS FOR LIABILITIES
Deferred Taxation (6,087 ) (7,485 )
NET ASSETS 254,959 332,628
CAPITAL AND RESERVES
Called up share capital 9 100 100
Profit and Loss Account 254,859 332,528
SHAREHOLDERS' FUNDS 254,959 332,628
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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
Mrs K L Lewis
Director
25 February 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
GCT Limited is a private company, limited by shares, incorporated in England & Wales, registered number 10650543 . The registered office is First Floor Sterling House, Outrams Wharf, Little Eaton, Derby, DE21 5EL.
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. 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
Motor Vehicles 25% Straight Line
Computer Equipment 33% Straight Line
2.4. 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.
2.5. Foreign Currencies
Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate ruling on the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
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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. 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. The carrying amount of deferred tax assets is reviewed at the end of each reporting period.
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.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 2 (2023: 2)
2 2
4. Tangible Assets
Plant & Machinery Motor Vehicles Computer Equipment Total
£ £ £ £
Cost
As at 1 June 2023 34,869 82,062 2,547 119,478
Additions 625 - - 625
As at 31 May 2024 35,494 82,062 2,547 120,103
Depreciation
As at 1 June 2023 7,941 69,581 2,428 79,950
Provided during the period 7,016 8,731 47 15,794
As at 31 May 2024 14,957 78,312 2,475 95,744
Net Book Value
As at 31 May 2024 20,537 3,750 72 24,359
As at 1 June 2023 26,928 12,481 119 39,528
5. Debtors
2024 2023
£ £
Due within one year
Trade debtors 111,800 86,034
Prepayments and accrued income 176 -
Other debtors 4,388 33,121
VAT 21,778 13,438
138,142 132,593
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6. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Net obligations under finance lease and hire purchase contracts 3,796 13,927
Trade creditors 32,036 9,007
Bank loans and overdrafts - 9,890
Corporation tax - 11,250
Other taxes and social security 610 1,034
Other creditors - 30
Directors' loan accounts - 11,717
Amounts owed to associates 8,068 -
44,510 56,855
7. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Net obligations under finance lease and hire purchase contracts 7,650 12,265
Bank loans - 24,946
7,650 37,211
8. Obligations Under Finance Leases and Hire Purchase
2024 2023
£ £
The future minimum finance lease payments are as follows:
Not later than one year 3,796 13,927
Later than one year and not later than five years 7,650 12,265
11,446 26,192
11,446 26,192
9. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 100 100
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