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Registered number: 08861589
Southern Gutter Systems Limited
Financial Statements
For The Year Ended 31 January 2025
AM Taxation Limited
Church View Barn
Beech Tree Court
Whitchurch
Buckinghamshire
HP22 4JR
Contents
Page
Accountant's Report 1
Balance Sheet 2—3
Notes to the Financial Statements 4—8
Page 1
Accountant's Report
In accordance with the engagement letter dated 29 April 2014, and in order to assist you to fulfil your duties under the Companies Act 2006, we have compiled the financial statements of the company from the accounting records and information and explanations you have given to us.
This report is made to the directors in accordance with the terms of our engagement. Our work has been undertaken to prepare for approval by the directors the financial statements that we have been engaged to compile, to report to the directors that we have done so, and to state those matters that we have agreed to state to them in this report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the Company and the Company's directors for our work or for this report.
You have acknowledged on the balance sheet as at year ended 31 January 2025 your duty to ensure that the company has kept proper accounting records and to prepare financial statements that give a true and fair view under the Companies Act 2006. You consider that the company is exempt from the statutory requirement for an audit for the year.
We have not been instructed to carry out an audit of the financial statements. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the financial statements.
11th June 2025
AM Taxation Limited
Church View Barn
Beech Tree Court
Whitchurch
Buckinghamshire
HP22 4JR
Page 1
Page 2
Balance Sheet
Registered number: 08861589
2025 2024
Notes £ £ £ £
FIXED ASSETS
Intangible Assets 4 424 515
Tangible Assets 5 303,294 323,738
303,718 324,253
CURRENT ASSETS
Stocks 6 10,647 26,530
Debtors 7 131,804 135,768
Cash at bank and in hand 398,976 393,336
541,427 555,634
Creditors: Amounts Falling Due Within One Year 8 (183,988 ) (220,385 )
NET CURRENT ASSETS (LIABILITIES) 357,439 335,249
TOTAL ASSETS LESS CURRENT LIABILITIES 661,157 659,502
Creditors: Amounts Falling Due After More Than One Year 9 (13,054 ) (26,295 )
PROVISIONS FOR LIABILITIES
Deferred Taxation 11 (28,231 ) (31,877 )
NET ASSETS 619,872 601,330
CAPITAL AND RESERVES
Called up share capital 12 1 1
Revaluation reserve 17,207 17,207
Profit and Loss Account 602,664 584,122
SHAREHOLDERS' FUNDS 619,872 601,330
Page 2
Page 3
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
Mrs T Stacey
Director
Mr D Stacey
Director
9th June 2025
The notes on pages 4 to 8 form part of these financial statements.
Page 3
Page 4
Notes to the Financial Statements
1. General Information
Southern Gutter Systems Limited is a private company, limited by shares, incorporated in England & Wales, registered number 08861589 . The registered office is Unit A Oak Tree Farm , Gays Lane, Holyport, Berkshire, SL6 2HL.
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 - Other Intangible
Other intangible assets are amortised to the profit and loss account over their estimated economic life of eleven 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 none is provided
Plant & Machinery 25% on a reducing balance basis
Motor Vehicles 20% on a reducing balance basis
Fixtures & Fittings 25% on a straight line basis
Computer Equipment 33% on a straight line basis
2.5. Leasing and Hire Purchase Contracts
Assets obtained under finance leases are capitalised as tangible fixed assets. Assets acquired under finance leases are depreciated over the shorter of the lease term and their useful lives. Assets acquired under hire purchase contracts are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in the creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.

Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to profit and loss account as incurred.
2.6. 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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Page 5
2.7. 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.
2.8. Pensions
The company operates a defined pension contribution scheme. Contributions are charged to the profit and loss account as they become payable in accordance with the rules of the scheme.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 4 (2024: 3)
4 3
4. Intangible Assets
Other
£
Cost
As at 1 February 2024 1,000
As at 31 January 2025 1,000
Amortisation
As at 1 February 2024 485
Provided during the period 91
As at 31 January 2025 576
Net Book Value
As at 31 January 2025 424
As at 1 February 2024 515
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Page 6
5. Tangible Assets
Land & Property
Freehold Plant & Machinery Motor Vehicles Fixtures & Fittings
£ £ £ £
Cost
As at 1 February 2024 206,875 18,504 134,531 21,408
Additions - 4,650 - -
As at 31 January 2025 206,875 23,154 134,531 21,408
Depreciation
As at 1 February 2024 - 12,607 35,372 12,813
Provided during the period - 2,152 19,832 1,756
As at 31 January 2025 - 14,759 55,204 14,569
Net Book Value
As at 31 January 2025 206,875 8,395 79,327 6,839
As at 1 February 2024 206,875 5,897 99,159 8,595
Computer Equipment Total
£ £
Cost
As at 1 February 2024 10,598 391,916
Additions - 4,650
As at 31 January 2025 10,598 396,566
Depreciation
As at 1 February 2024 7,386 68,178
Provided during the period 1,354 25,094
As at 31 January 2025 8,740 93,272
Net Book Value
As at 31 January 2025 1,858 303,294
As at 1 February 2024 3,212 323,738
Included above are assets held under finance leases or hire purchase contracts with a net book value as follows:
2025 2024
£ £
Motor Vehicles 59,629 74,536
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Cost or valuation as at 31 January 2025 represented by:
Land & Property
Freehold Plant & Machinery Motor Vehicles Fixtures & Fittings
£ £ £ £
At cost 189,668 23,154 134,531 21,408
At valuation 17,207 - - -
206,875 23,154 134,531 21,408
Computer Equipment Total
£ £
At cost 10,598 379,359
At valuation - 17,207
10,598 396,566
The freehold land and property were valued on an open market basis on 31 January 2025 by the Directors.
6. Stocks
2025 2024
£ £
Stock 10,647 26,530
7. Debtors
2025 2024
£ £
Due within one year
Trade debtors 76,267 88,365
Other debtors 55,537 47,403
131,804 135,768
8. Creditors: Amounts Falling Due Within One Year
2025 2024
£ £
Net obligations under finance lease and hire purchase contracts 13,241 12,379
Trade creditors 41,088 59,225
Other creditors 112,215 136,643
Taxation and social security 17,444 12,138
183,988 220,385
9. Creditors: Amounts Falling Due After More Than One Year
2025 2024
£ £
Net obligations under finance lease and hire purchase contracts 13,054 26,295
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10. Obligations Under Finance Leases and Hire Purchase
2025 2024
£ £
The future minimum finance lease payments are as follows:
Not later than one year 13,241 12,379
Later than one year and not later than five years 13,054 26,295
26,295 38,674
26,295 38,674
11. Deferred Taxation
The provision for deferred tax is made up as follows:
2025 2024
£ £
Other timing differences 28,231 31,877
12. Share Capital
2025 2024
£ £
Allotted, Called up and fully paid 1 1
13. Directors Advances, Credits and Guarantees
Included within Debtors are the following loans to directors:
As at 1 February 2024 Amounts advanced Amounts repaid Amounts written off As at 31 January 2025
£ £ £ £ £
Mrs Teresa Stacey 5,000 5,000 - - 10,000
Mr David Stacey 5,000 5,000 - - 10,000
The above loan is unsecured, interest free and repayable on demand.
Page 8