Acorah Software Products - Accounts Production 16.2.850 false true 31 January 2024 1 February 2023 false 1 February 2024 31 January 2025 31 January 2025 07128035 Mr M Killingworth Miss J Killingworth iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 07128035 2024-01-31 07128035 2025-01-31 07128035 2024-02-01 2025-01-31 07128035 frs-core:CurrentFinancialInstruments 2025-01-31 07128035 frs-core:Non-currentFinancialInstruments 2025-01-31 07128035 frs-core:ComputerEquipment 2025-01-31 07128035 frs-core:ComputerEquipment 2024-02-01 2025-01-31 07128035 frs-core:ComputerEquipment 2024-01-31 07128035 frs-core:FurnitureFittings 2025-01-31 07128035 frs-core:FurnitureFittings 2024-02-01 2025-01-31 07128035 frs-core:FurnitureFittings 2024-01-31 07128035 frs-core:NetGoodwill 2025-01-31 07128035 frs-core:NetGoodwill 2024-02-01 2025-01-31 07128035 frs-core:NetGoodwill 2024-01-31 07128035 frs-core:LandBuildings frs-core:OwnedOrFreeholdAssets 2025-01-31 07128035 frs-core:LandBuildings frs-core:OwnedOrFreeholdAssets 2024-02-01 2025-01-31 07128035 frs-core:LandBuildings frs-core:OwnedOrFreeholdAssets 2024-01-31 07128035 frs-core:MotorVehicles 2025-01-31 07128035 frs-core:MotorVehicles 2024-02-01 2025-01-31 07128035 frs-core:MotorVehicles 2024-01-31 07128035 frs-core:PlantMachinery 2025-01-31 07128035 frs-core:PlantMachinery 2024-02-01 2025-01-31 07128035 frs-core:PlantMachinery 2024-01-31 07128035 frs-core:ShareCapital 2025-01-31 07128035 frs-core:RetainedEarningsAccumulatedLosses 2025-01-31 07128035 frs-bus:PrivateLimitedCompanyLtd 2024-02-01 2025-01-31 07128035 frs-bus:FilletedAccounts 2024-02-01 2025-01-31 07128035 frs-bus:SmallEntities 2024-02-01 2025-01-31 07128035 frs-bus:AuditExempt-NoAccountantsReport 2024-02-01 2025-01-31 07128035 frs-bus:SmallCompaniesRegimeForAccounts 2024-02-01 2025-01-31 07128035 frs-bus:Director1 2024-02-01 2025-01-31 07128035 frs-bus:CompanySecretary1 2024-02-01 2025-01-31 07128035 frs-core:CurrentFinancialInstruments 1 2025-01-31 07128035 frs-core:CurrentFinancialInstruments 2 2025-01-31 07128035 frs-countries:EnglandWales 2024-02-01 2025-01-31 07128035 2023-01-31 07128035 2024-01-31 07128035 2023-02-01 2024-01-31 07128035 frs-core:CurrentFinancialInstruments 2024-01-31 07128035 frs-core:Non-currentFinancialInstruments 2024-01-31 07128035 frs-core:ShareCapital 2024-01-31 07128035 frs-core:RetainedEarningsAccumulatedLosses 2024-01-31 07128035 frs-core:CurrentFinancialInstruments 1 2024-01-31 07128035 frs-core:CurrentFinancialInstruments 2 2024-01-31
Registered number: 07128035
General Merchandise International Limited
Financial Statements
For The Year Ended 31 January 2025
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—6
Page 1
Balance Sheet
Registered number: 07128035
2025 2024
Notes £ £ £ £
FIXED ASSETS
Intangible Assets 4 2,125 2,550
Tangible Assets 5 558,863 291,068
560,988 293,618
CURRENT ASSETS
Stocks 6 468,506 411,243
Debtors 7 31,034 52,785
Cash at bank and in hand 42,858 184,215
542,398 648,243
Creditors: Amounts Falling Due Within One Year 8 (578,523 ) (523,232 )
NET CURRENT ASSETS (LIABILITIES) (36,125 ) 125,011
TOTAL ASSETS LESS CURRENT LIABILITIES 524,863 418,629
Creditors: Amounts Falling Due After More Than One Year 9 (350,263 ) (177,276 )
NET ASSETS 174,600 241,353
CAPITAL AND RESERVES
Called up share capital 10 92 92
Profit and Loss Account 174,508 241,261
SHAREHOLDERS' FUNDS 174,600 241,353
Page 1
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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 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 M Killingworth
Director
16 April 2025
The notes on pages 3 to 6 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
General Merchandise International Limited is a private company, limited by shares, incorporated in England & Wales, registered number 07128035 . The registered office is Unit 9 Mallard Road, Victoria Business Park, Netherfield, Nottingham, NG4 2PE.
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 is the difference between amounts paid on the acquisition of a business and the fair value of the separable net assets. It is amortised to profit and loss account over its estimated economic life of 20 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:
Freehold No depreciation
Plant & Machinery 25% Reducing balance
Motor Vehicles 25% Reducing balance
Fixtures & Fittings 25% Reducing balance
Computer Equipment 25% Reducing balance
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. 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.
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3. Average Number of Employees
Average number of employees, including directors, during the year was: 4 (2024: 4)
4 4
4. Intangible Assets
Goodwill
£
Cost
As at 1 February 2024 8,500
As at 31 January 2025 8,500
Amortisation
As at 1 February 2024 5,950
Provided during the period 425
As at 31 January 2025 6,375
Net Book Value
As at 31 January 2025 2,125
As at 1 February 2024 2,550
5. Tangible Assets
Land & Property
Freehold Plant & Machinery Motor Vehicles Fixtures & Fittings
£ £ £ £
Cost
As at 1 February 2024 235,000 86,554 27,000 46,232
Additions 278,250 - 4,750 -
As at 31 January 2025 513,250 86,554 31,750 46,232
Depreciation
As at 1 February 2024 - 59,187 18,458 35,056
Provided during the period - 6,842 3,323 2,794
As at 31 January 2025 - 66,029 21,781 37,850
Net Book Value
As at 31 January 2025 513,250 20,525 9,969 8,382
As at 1 February 2024 235,000 27,367 8,542 11,176
Computer Equipment Total
£ £
Cost
As at 1 February 2024 52,052 446,838
Additions - 283,000
As at 31 January 2025 52,052 729,838
...CONTINUED
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Page 5
Depreciation
As at 1 February 2024 43,069 155,770
Provided during the period 2,246 15,205
As at 31 January 2025 45,315 170,975
Net Book Value
As at 31 January 2025 6,737 558,863
As at 1 February 2024 8,983 291,068
6. Stocks
2025 2024
£ £
Stock 468,506 411,243
7. Debtors
2025 2024
£ £
Due within one year
Trade debtors 25,682 42,553
Prepayments and accrued income 5,066 9,066
Other debtors 286 1,166
31,034 52,785
8. Creditors: Amounts Falling Due Within One Year
2025 2024
£ £
Trade creditors 79,425 76,697
Bank loans and overdrafts 25,755 12,853
Corporation tax 28,735 29,080
Other taxes and social security 391 494
VAT 32,659 39,859
Other creditors 191,888 191,888
Amex credit card 5,561 5,564
Virgin credit card 8,222 6,065
Accruals and deferred income 15,371 15,371
Director's loan account 190,516 145,361
578,523 523,232
9. Creditors: Amounts Falling Due After More Than One Year
2025 2024
£ £
Bank loans 350,263 177,276
10. Share Capital
2025 2024
£ £
Allotted, Called up and fully paid 92 92
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11. Related Party Transactions
At the balance sheet date, the company owed the directors £213,808 (2024:£145,361). This amount is unsecured, interest free, with no fixed repayment date.
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