Acorah Software Products - Accounts Production 16.3.350 false true 31 March 2024 1 April 2023 false 1 April 2024 31 March 2025 31 March 2025 04352144 Mr Jake Mann Mr Joel Pither Mr John Steptoe Mr Jake Mann iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 04352144 2024-03-31 04352144 2025-03-31 04352144 2024-04-01 2025-03-31 04352144 frs-core:CurrentFinancialInstruments 2025-03-31 04352144 frs-core:Non-currentFinancialInstruments 2025-03-31 04352144 frs-core:ComputerEquipment 2025-03-31 04352144 frs-core:ComputerEquipment 2024-04-01 2025-03-31 04352144 frs-core:ComputerEquipment 2024-03-31 04352144 frs-core:FurnitureFittings 2025-03-31 04352144 frs-core:FurnitureFittings 2024-04-01 2025-03-31 04352144 frs-core:FurnitureFittings 2024-03-31 04352144 frs-core:NetGoodwill 2025-03-31 04352144 frs-core:NetGoodwill 2024-04-01 2025-03-31 04352144 frs-core:NetGoodwill 2024-03-31 04352144 frs-core:PlantMachinery 2025-03-31 04352144 frs-core:PlantMachinery 2024-04-01 2025-03-31 04352144 frs-core:PlantMachinery 2024-03-31 04352144 frs-core:CapitalRedemptionReserve 2025-03-31 04352144 frs-core:ShareCapital 2025-03-31 04352144 frs-core:RetainedEarningsAccumulatedLosses 2025-03-31 04352144 frs-bus:PrivateLimitedCompanyLtd 2024-04-01 2025-03-31 04352144 frs-bus:FilletedAccounts 2024-04-01 2025-03-31 04352144 frs-bus:SmallEntities 2024-04-01 2025-03-31 04352144 frs-bus:AuditExempt-NoAccountantsReport 2024-04-01 2025-03-31 04352144 frs-bus:SmallCompaniesRegimeForAccounts 2024-04-01 2025-03-31 04352144 frs-bus:Director1 2024-04-01 2025-03-31 04352144 frs-bus:Director2 2024-04-01 2025-03-31 04352144 frs-bus:Director3 2024-04-01 2025-03-31 04352144 frs-bus:CompanySecretary1 2024-04-01 2025-03-31 04352144 frs-countries:EnglandWales 2024-04-01 2025-03-31 04352144 2023-03-31 04352144 2024-03-31 04352144 2023-04-01 2024-03-31 04352144 frs-core:CurrentFinancialInstruments 2024-03-31 04352144 frs-core:Non-currentFinancialInstruments 2024-03-31 04352144 frs-core:CapitalRedemptionReserve 2024-03-31 04352144 frs-core:ShareCapital 2024-03-31 04352144 frs-core:RetainedEarningsAccumulatedLosses 2024-03-31
Registered number: 04352144
GP3 FINANCIAL SOLUTIONS LIMITED
Unaudited Financial Statements
For The Year Ended 31 March 2025
TaxAssist Accountants
Unaudited Financial Statements
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 04352144
2025 2024
Notes £ £ £ £
FIXED ASSETS
Intangible Assets 3 274,050 -
Tangible Assets 4 29,188 32,960
303,238 32,960
CURRENT ASSETS
Debtors 5 13,031 52,143
Cash at bank and in hand 319,179 303,520
332,210 355,663
Creditors: Amounts Falling Due Within One Year 6 (312,289 ) (209,502 )
NET CURRENT ASSETS (LIABILITIES) 19,921 146,161
TOTAL ASSETS LESS CURRENT LIABILITIES 323,159 179,121
Creditors: Amounts Falling Due After More Than One Year 7 (63,180 ) -
PROVISIONS FOR LIABILITIES
Deferred Taxation (7,297 ) (8,206 )
NET ASSETS 252,682 170,915
CAPITAL AND RESERVES
Called up share capital 8 750 750
Capital redemption reserve 250 250
Profit and Loss Account 251,682 169,915
SHAREHOLDERS' FUNDS 252,682 170,915
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Page 2
For the year ending 31 March 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 Jake Mann
Director
Mr Joel Pither
Director
Mr John Steptoe
Director
13/05/2025
The notes on pages 3 to 5 form part of these financial statements.
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Notes to the Financial Statements
1. Accounting Policies
1.1. 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.
1.2. 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.
1.3. 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 10 years.
1.4. 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:
Plant & Machinery 25% reducing balance
Fixtures & Fittings 20% reducing balance
Computer Equipment 25% reducing balance
1.5. 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 and deferred tax are recognised in profit or loss for the year, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case current and deferred tax are recognised in other comprehensive income or directly in equity respectively.
2. Average Number of Employees
Average number of employees, including directors, during the year was as follows: 13 (2024: 14)
13 14
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3. Intangible Assets
Goodwill
£
Cost
As at 1 April 2024 5,000
Additions 290,730
As at 31 March 2025 295,730
Amortisation
As at 1 April 2024 5,000
Provided during the period 16,680
As at 31 March 2025 21,680
Net Book Value
As at 31 March 2025 274,050
As at 1 April 2024 -
4. Tangible Assets
Plant & Machinery Fixtures & Fittings Computer Equipment Total
£ £ £ £
Cost
As at 1 April 2024 - 52,571 50,329 102,900
Additions 748 120 2,936 3,804
As at 31 March 2025 748 52,691 53,265 106,704
Depreciation
As at 1 April 2024 - 31,583 38,357 69,940
Provided during the period 16 4,222 3,338 7,576
As at 31 March 2025 16 35,805 41,695 77,516
Net Book Value
As at 31 March 2025 732 16,886 11,570 29,188
As at 1 April 2024 - 20,988 11,972 32,960
5. Debtors
2025 2024
£ £
Due within one year
Trade debtors 1,599 42,362
Other debtors 11,432 9,781
13,031 52,143
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6. Creditors: Amounts Falling Due Within One Year
2025 2024
£ £
Trade creditors 24,406 2,227
Bank loans and overdrafts - 1
Other creditors 67,003 6,999
Taxation and social security 220,880 200,275
312,289 209,502
Within other creditors is contingent consideration of £60,750. This amount is payable within one year and is contingent upon the assets under management of successfully acquired clients. The liability is calculated as 0.75% of all assets under management for a period of 12 months from the acquisition date. The payment will be measured and paid on a monthly basis.
7. Creditors: Amounts Falling Due After More Than One Year
2025 2024
£ £
Other creditors 63,180 -
63,180 -
Within other creditors is contingent consideration of £63,180. This amount is payable after one year and is contingent upon the assets under management of successfully acquired clients. The liability is calculated as 0.75% of all assets under management for a period of 12 months 1 year after the acquisition date. The payment will be measured and paid on a monthly basis.
8. Share Capital
2025 2024
£ £
Allotted, Called up and fully paid 750 750
9. Other Commitments
The total of future minimum lease payments under non-cancellable operating leases are as following:
Other
2025 2024
£ £
Within 1 year 4,790 -
Between 1 and 5 years 9,580 -
14,370 -
10. General Information
GP3 FINANCIAL SOLUTIONS LIMITED is a private company, limited by shares, incorporated in England & Wales, registered number 04352144 . The registered office is 50 Rosemead Drive, Oadby, Leicester, Leicestershire, LE2 5SF.
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