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Registered number: 03481077
Grapevine Telecom Limited
Unaudited Financial Statements
For The Year Ended 31 January 2025
MKL Accountants Limited
Chartered Certified Accountants
Herston Cross House
230 High Street
Swanage
Dorset
BH19 2PQ
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—6
Page 1
Balance Sheet
Registered number: 03481077
2025 2024
Notes £ £ £ £
FIXED ASSETS
Intangible Assets 4 718,210 718,210
Tangible Assets 5 32,925 36,829
751,135 755,039
CURRENT ASSETS
Stocks 6 18,511 16,491
Debtors 7 189,156 99,734
Cash at bank and in hand 525,837 355,689
733,504 471,914
Creditors: Amounts Falling Due Within One Year 8 (700,309 ) (395,717 )
NET CURRENT ASSETS (LIABILITIES) 33,195 76,197
TOTAL ASSETS LESS CURRENT LIABILITIES 784,330 831,236
PROVISIONS FOR LIABILITIES
Deferred Taxation (5,856 ) (3,069 )
NET ASSETS 778,474 828,167
CAPITAL AND RESERVES
Called up share capital 9 400 400
Profit and Loss Account 778,074 827,767
SHAREHOLDERS' FUNDS 778,474 828,167
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For the year ending 31 January 2025 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
Mr James Spinks
Director
Mr Edward Lewis
Director
02/04/2025
The notes on pages 3 to 6 form part of these financial statements.
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Notes to the Financial Statements
1. General Information
Grapevine Telecom Limited is a private company, limited by shares, incorporated in England & Wales, registered number 03481077 . The registered office is Herston Cross House, 230 High Street, Swanage, Dorset, BH19 2PQ.
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. Intangible Fixed Assets and Amortisation - Goodwill
Goodwill represents purchase costs of customer bases from separate businesses. The directors are of the opinion that the current value exceeds the purchase cost and therefore no amortisation has been applied
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:
Freehold No depreciation is applicable
Motor Vehicles 25% Reducing Balance Method
Fixtures & Fittings 25% Reducing Balance Method
Computer Equipment 33% Reducing Balance Method
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.
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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. 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 year 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 asset reflects 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.
2.7. Government Grant
Government grants are recognised in the profit and loss account in an appropriate manner that matches them with the expenditure towards which they are intended to contribute.
Grants for immediate financial support or to cover costs already incurred are recognised immediately in the profit and loss account. Grants towards general activities of the entity over a specific period are recognised in the profit and loss account over that period.
Grants towards fixed assets are recognised over the expected useful lives of the related assets and are treated as deferred income and released to the profit and loss account over the useful life of the asset concerned.
All grants in the profit and loss account are recognised when all conditions for receipt have been complied with.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 25 (2024: 23)
25 23
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4. Intangible Assets
Goodwill
£
Cost
As at 1 February 2024 718,210
As at 31 January 2025 718,210
Net Book Value
As at 31 January 2025 718,210
As at 1 February 2024 718,210
5. Tangible Assets
Land & Property
Freehold Motor Vehicles Fixtures & Fittings Computer Equipment Total
£ £ £ £ £
Cost
As at 1 February 2024 9,503 2,000 12,906 38,853 63,262
Additions - 2,958 2,439 4,102 9,499
Disposals - - - (11,700 ) (11,700 )
As at 31 January 2025 9,503 4,958 15,345 31,255 61,061
Depreciation
As at 1 February 2024 - 875 5,597 19,961 26,433
Provided during the period - 1,021 2,437 6,427 9,885
Disposals - - - (8,182 ) (8,182 )
As at 31 January 2025 - 1,896 8,034 18,206 28,136
Net Book Value
As at 31 January 2025 9,503 3,062 7,311 13,049 32,925
As at 1 February 2024 9,503 1,125 7,309 18,892 36,829
6. Stocks
2025 2024
£ £
Materials 18,511 16,491
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7. Debtors
2025 2024
£ £
Due within one year
Trade debtors 170,236 78,314
Prepayments and accrued income 6,397 8,897
Rent deposit 2,308 2,308
Amounts owed by group undertakings 10,215 10,215
189,156 99,734
8. Creditors: Amounts Falling Due Within One Year
2025 2024
£ £
Trade creditors 267,913 137,595
Corporation tax 74,230 88,277
Other taxes and social security 27,367 17,580
VAT 80,965 80,944
Other creditors 14,595 70,697
Vodafone advance income 234,615 -
Directors' loan accounts 624 624
700,309 395,717
9. Share Capital
2025 2024
£ £
Allotted, Called up and fully paid 400 400
10. Dividends
2025 2024
£ £
On equity shares:
Final dividend paid 265,083 582,667
Final dividends are payments to the Employment Ownership Trust for the repayment of the founders loan
11. Ultimate Controlling Party
The company is wholly owned by an Employee Ownership Trust 
The company's ultimate controlling party is Grapevine Telecom Trustees Limited by virtue of the ownership of 100% of the issued share capital in the company.
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