Acorah Software Products - Accounts Production 16.1.300 false true 31 October 2023 1 November 2022 false 1 November 2023 31 October 2024 31 October 2024 13655360 R J Gregory iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 13655360 2023-10-31 13655360 2024-10-31 13655360 2023-11-01 2024-10-31 13655360 frs-core:Non-currentFinancialInstruments 2024-10-31 13655360 frs-core:ShareCapital 2024-10-31 13655360 frs-core:RetainedEarningsAccumulatedLosses 2024-10-31 13655360 frs-bus:PrivateLimitedCompanyLtd 2023-11-01 2024-10-31 13655360 frs-bus:FilletedAccounts 2023-11-01 2024-10-31 13655360 frs-bus:SmallEntities 2023-11-01 2024-10-31 13655360 frs-bus:AuditExempt-NoAccountantsReport 2023-11-01 2024-10-31 13655360 frs-bus:SmallCompaniesRegimeForAccounts 2023-11-01 2024-10-31 13655360 frs-bus:Director1 2023-11-01 2024-10-31 13655360 frs-countries:EnglandWales 2023-11-01 2024-10-31 13655360 2022-10-31 13655360 2023-10-31 13655360 2022-11-01 2023-10-31 13655360 frs-core:Non-currentFinancialInstruments 2023-10-31 13655360 frs-core:ShareCapital 2023-10-31 13655360 frs-core:RetainedEarningsAccumulatedLosses 2023-10-31
Registered number: 13655360
Glumangate Limited
Financial Statements
For The Year Ended 31 October 2024
Gravitate Accounting
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—4
Page 1
Balance Sheet
Registered number: 13655360
2024 2023
Notes £ £ £ £
FIXED ASSETS
Investment Properties 4 80,000 66,787
80,000 66,787
CURRENT ASSETS
Debtors 5 - 222
Cash at bank and in hand 24 121
24 343
Creditors: Amounts Falling Due Within One Year 6 (26,779 ) (26,243 )
NET CURRENT ASSETS (LIABILITIES) (26,755 ) (25,900 )
TOTAL ASSETS LESS CURRENT LIABILITIES 53,245 40,887
Creditors: Amounts Falling Due After More Than One Year 7 (45,927 ) (44,797 )
PROVISIONS FOR LIABILITIES
Deferred Taxation (2,510 ) -
NET ASSETS/(LIABILITIES) 4,808 (3,910 )
CAPITAL AND RESERVES
Called up share capital 8 250 250
Profit and Loss Account 4,558 (4,160 )
SHAREHOLDERS' FUNDS 4,808 (3,910)
Page 1
Page 2
For the year ending 31 October 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
R J Gregory
Director
13th March 2025
The notes on pages 3 to 4 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Glumangate Limited is a private company, limited by shares, incorporated in England & Wales, registered number 13655360 . The registered office is Gravitate Accounting , Unit 13 E, 92 Burton Road, Sheffield, South Yorkshire, S3 8BX. 
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 rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
2.3. Investment Properties
All investment properties are carried at fair value determined annually and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided for. Changes in fair value are recognised in the profit and loss account.
2.4. Financial Instruments
The company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities such as bank and cash balances, trade and other accounts receivable and payable, loans from banks and other third parties and loans to and from related parties.
Debt instruments (other than those wholly repayable or receivable within one year), including loans and other accounts receivable and payable, are initially measured at teh transaction price and subsequently at amortised cost using the effective interest method. Debt instruments that are payable or receivable within one year, typicaslly trade debtors and creditors, are measured, initially and subserquently, at the undiscounted amount of the cash or other consideration expected to be paid or received. However, if the arrangements of a short-term instrument constitute a financing transaction, the financial asset or liability is measured, initially, at the present value of the future cash flow discounted at a market rate oif interest for a similar debt instrument and subsequently at amortised cost.
Financial assets and liabilities are offset and the net amount reported in the balance sheet when there is an enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.
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)
1 1
Page 3
Page 4
4. Investment Property
2024
£
Fair Value
As at 1 November 2023 66,787
Revaluations 13,213
As at 31 October 2024 80,000
The Investment property was revalued in the year ending 31 October 2024, the basis of this valuation was on a market value basis. 
The directors consider this valuation to be relevant as of 31 October 2024.
If investment property had been accounted for under historical cost accounting rules, the amounts would be:
2024 2023
£ £
Cost 63,000 63,000
5. Debtors
2024 2023
£ £
Due within one year
Other debtors - 222
6. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Other creditors 26,779 26,243
7. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Bank loans 45,927 44,797
8. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 250 250
9. Related Party Transactions
The company has taken advantage of exemption conferred by FRS 102 S33,1A, removing the requirement to disclose transactions between group members.
As at 30 June 2024 amounts owed to entities under common control were £23,481 (2023: £45,525).
Outstanding balances with entities are unsecured, interest free and payable on demand.
Page 4