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 07492795 Mr Glenn Noakes iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 07492795 2024-01-31 07492795 2025-01-31 07492795 2024-02-01 2025-01-31 07492795 frs-core:CurrentFinancialInstruments 2025-01-31 07492795 frs-core:Non-currentFinancialInstruments 2025-01-31 07492795 frs-core:ComputerEquipment 2025-01-31 07492795 frs-core:ComputerEquipment 2024-02-01 2025-01-31 07492795 frs-core:ComputerEquipment 2024-01-31 07492795 frs-core:FurnitureFittings 2025-01-31 07492795 frs-core:FurnitureFittings 2024-02-01 2025-01-31 07492795 frs-core:FurnitureFittings 2024-01-31 07492795 frs-core:MotorVehicles 2024-02-01 2025-01-31 07492795 frs-core:PlantMachinery 2025-01-31 07492795 frs-core:PlantMachinery 2024-02-01 2025-01-31 07492795 frs-core:PlantMachinery 2024-01-31 07492795 frs-core:ShareCapital 2025-01-31 07492795 frs-core:RetainedEarningsAccumulatedLosses 2025-01-31 07492795 frs-bus:PrivateLimitedCompanyLtd 2024-02-01 2025-01-31 07492795 frs-bus:FilletedAccounts 2024-02-01 2025-01-31 07492795 frs-bus:SmallEntities 2024-02-01 2025-01-31 07492795 frs-bus:AuditExempt-NoAccountantsReport 2024-02-01 2025-01-31 07492795 frs-bus:SmallCompaniesRegimeForAccounts 2024-02-01 2025-01-31 07492795 frs-bus:Director1 2024-02-01 2025-01-31 07492795 frs-countries:EnglandWales 2024-02-01 2025-01-31 07492795 2023-01-31 07492795 2024-01-31 07492795 2023-02-01 2024-01-31 07492795 frs-core:CurrentFinancialInstruments 2024-01-31 07492795 frs-core:Non-currentFinancialInstruments 2024-01-31 07492795 frs-core:ShareCapital 2024-01-31 07492795 frs-core:RetainedEarningsAccumulatedLosses 2024-01-31
Registered number: 07492795
GN Properties (Midlands) Limited
Financial Statements
For The Year Ended 31 January 2025
Contents
Page
Balance Sheet 1
Notes to the Financial Statements 2—4
Page 1
Balance Sheet
Registered number: 07492795
2025 2024
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 726 854
726 854
CURRENT ASSETS
Debtors 5 85,499 67,838
Cash at bank and in hand - 1,459
85,499 69,297
Creditors: Amounts Falling Due Within One Year 6 (26,548 ) (24,648 )
NET CURRENT ASSETS (LIABILITIES) 58,951 44,649
TOTAL ASSETS LESS CURRENT LIABILITIES 59,677 45,503
Creditors: Amounts Falling Due After More Than One Year 7 (14,346 ) (16,621 )
NET ASSETS 45,331 28,882
CAPITAL AND RESERVES
Called up share capital 8 1 1
Profit and Loss Account 45,330 28,881
SHAREHOLDERS' FUNDS 45,331 28,882
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 Glenn Noakes
Director
17 April 2025
The notes on pages 2 to 4 form part of these financial statements.
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Page 2
Notes to the Financial Statements
1. General Information
GN Properties (Midlands) Limited is a private company, limited by shares, incorporated in England & Wales, registered number 07492795 . The registered office is 550 Valley Road, Nottingham, NG5 1JJ.
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 15% Reducing Balance
Motor Vehicles 25% Reducing Balance
Fixtures & Fittings 15% Reducing Balance
Computer Equipment 15% Reducing Balance
2.4. 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: 1 (2024: 1)
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4. Tangible Assets
Plant & Machinery Fixtures & Fittings Computer Equipment Total
£ £ £ £
Cost
As at 1 February 2024 1,250 1,445 1,442 4,137
As at 31 January 2025 1,250 1,445 1,442 4,137
Depreciation
As at 1 February 2024 1,099 742 1,442 3,283
Provided during the period 23 105 - 128
As at 31 January 2025 1,122 847 1,442 3,411
Net Book Value
As at 31 January 2025 128 598 - 726
As at 1 February 2024 151 703 - 854
5. Debtors
2025 2024
£ £
Due within one year
Trade debtors - 277
Other debtors 8,935 8,935
VAT 1,486 673
Director's loan account 75,078 57,953
85,499 67,838
6. Creditors: Amounts Falling Due Within One Year
2025 2024
£ £
Bank loans and overdrafts 2,409 2,409
Corporation tax 8,236 10,261
Other creditors 15,093 11,168
Accruals and deferred income 810 810
26,548 24,648
7. Creditors: Amounts Falling Due After More Than One Year
2025 2024
£ £
Bank loans 14,346 16,621
8. Share Capital
2025 2024
£ £
Allotted, Called up and fully paid 1 1
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9. Related Party Transactions
At the balance sheet date, the director owed the company £75,078 (2024: £57,953). The amount is unsecured, interest-free, and repayable within 9 months.
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