Acorah Software Products - Accounts Production 16.1.300 false true 31 March 2023 1 April 2022 false 1 April 2023 31 March 2024 31 March 2024 11173811 Mr Ahmed Sukkar iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 11173811 2023-03-31 11173811 2024-03-31 11173811 2023-04-01 2024-03-31 11173811 frs-core:CurrentFinancialInstruments 2024-03-31 11173811 frs-core:Non-currentFinancialInstruments 2024-03-31 11173811 frs-core:MotorVehicles 2024-03-31 11173811 frs-core:MotorVehicles 2023-04-01 2024-03-31 11173811 frs-core:MotorVehicles 2023-03-31 11173811 frs-core:PlantMachinery 2024-03-31 11173811 frs-core:PlantMachinery 2023-04-01 2024-03-31 11173811 frs-core:PlantMachinery 2023-03-31 11173811 frs-core:ShareCapital 2024-03-31 11173811 frs-core:RetainedEarningsAccumulatedLosses 2023-04-01 2024-03-31 11173811 frs-core:RetainedEarningsAccumulatedLosses 2024-03-31 11173811 frs-bus:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 11173811 frs-bus:FilletedAccounts 2023-04-01 2024-03-31 11173811 frs-bus:SmallEntities 2023-04-01 2024-03-31 11173811 frs-bus:AuditExempt-NoAccountantsReport 2023-04-01 2024-03-31 11173811 frs-bus:SmallCompaniesRegimeForAccounts 2023-04-01 2024-03-31 11173811 frs-bus:Director1 2023-04-01 2024-03-31 11173811 frs-core:CurrentFinancialInstruments 1 2024-03-31 11173811 frs-core:CurrentFinancialInstruments 2 2024-03-31 11173811 frs-countries:EnglandWales 2023-04-01 2024-03-31 11173811 2022-03-31 11173811 2023-03-31 11173811 2022-04-01 2023-03-31 11173811 frs-core:CurrentFinancialInstruments 2023-03-31 11173811 frs-core:Non-currentFinancialInstruments 2023-03-31 11173811 frs-core:ShareCapital 2022-03-31 11173811 frs-core:ShareCapital 2023-03-31 11173811 frs-core:RetainedEarningsAccumulatedLosses 2022-04-01 2023-03-31 11173811 frs-core:RetainedEarningsAccumulatedLosses frs-core:PreviouslyStatedAmount 2022-03-31 11173811 frs-core:RetainedEarningsAccumulatedLosses 2023-03-31 11173811 frs-core:CurrentFinancialInstruments 1 2023-03-31 11173811 frs-core:CurrentFinancialInstruments 2 2023-03-31
Registered number: 11173811
The Merch Store Ltd
Unaudited Financial Statements
For The Year Ended 31 March 2024
GMS FC Limited
1 London Road
Ipswich
Suffolk
IP1 2HA
Unaudited Financial Statements
Contents
Page
Balance Sheet 1—2
Statement of Changes in Equity 3
Notes to the Financial Statements 4—6
Page 1
Balance Sheet
Registered number: 11173811
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 26,432 37,934
26,432 37,934
CURRENT ASSETS
Debtors 5 186,241 318,268
Cash at bank and in hand 116,805 87,812
303,046 406,080
Creditors: Amounts Falling Due Within One Year 6 (250,654 ) (235,798 )
NET CURRENT ASSETS (LIABILITIES) 52,392 170,282
TOTAL ASSETS LESS CURRENT LIABILITIES 78,824 208,216
Creditors: Amounts Falling Due After More Than One Year 7 (3,581 ) (47,324 )
PROVISIONS FOR LIABILITIES
Deferred Taxation (7,207 ) (7,207 )
NET ASSETS 68,036 153,685
CAPITAL AND RESERVES
Called up share capital 8 500 500
Profit and Loss Account 67,536 153,185
SHAREHOLDERS' FUNDS 68,036 153,685
Page 1
Page 2
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 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 Ahmed Sukkar
Director
27th March 2025
The notes on pages 4 to 6 form part of these financial statements.
Page 2
Page 3
Statement of Changes in Equity
Share Capital Profit and Loss Account Total
£ £ £
As at 1 April 2022 500 212,537 213,037
Loss for the year and total comprehensive income - (17,352 ) (17,352)
Dividends paid - (42,000) (42,000)
As at 31 March 2023 and 1 April 2023 500 153,185 153,685
Loss for the year and total comprehensive income - (43,649 ) (43,649)
Dividends paid - (42,000) (42,000)
As at 31 March 2024 500 67,536 68,036
Page 3
Page 4
Notes to the Financial Statements
1. General Information
The Merch Store Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 11173811 . The registered office is Van Gogh House, 158 Twickenham Road, Isleworth, TW7 7DL.
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% SL
Motor Vehicles 20% SL
2.4. 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.
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 or deferred tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.
Page 4
Page 5
3. Average Number of Employees
Average number of employees, including directors, during the year was: 3 (2023: 4)
3 4
4. Tangible Assets
Plant & Machinery Motor Vehicles Total
£ £ £
Cost
As at 1 April 2023 31,127 63,116 94,243
As at 31 March 2024 31,127 63,116 94,243
Depreciation
As at 1 April 2023 23,917 32,392 56,309
Provided during the period 2,027 9,475 11,502
As at 31 March 2024 25,944 41,867 67,811
Net Book Value
As at 31 March 2024 5,183 21,249 26,432
As at 1 April 2023 7,210 30,724 37,934
5. Debtors
2024 2023
£ £
Due within one year
Trade debtors 89,842 71,767
VAT 17,751 7,520
Amounts owed by group undertakings - 160,333
Amounts owed by subsidiaries 78,648 78,648
186,241 318,268
6. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 83,542 91,967
Corporation tax (379 ) (379 )
Other taxes and social security 261 4,693
Other creditors 81,234 60,234
Pension Control Account 183 730
Credit card control account 6,659 9,227
Accruals and deferred income 36,687 22,459
Director's loan account 42,467 46,867
250,654 235,798
Page 5
Page 6
7. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Bank loans - 18,743
Amounts owed to group undertakings 3,581 28,581
3,581 47,324
8. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 500 500
9. Directors Advances, Credits and Guarantees
Dividends paid to directors
Page 6