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Registered number: 04638866
Greenside Packaging Services Limited
Unaudited Financial Statements
For The Year Ended 31 March 2025
HG Professional
Chartered Accountants
Room 3 The Old Laundry
Rostherne Lane
Rostherne
Cheshire
WA16 6SA
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—7
Page 1
Balance Sheet
Registered number: 04638866
2025 2024
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 5 42,321 54,869
42,321 54,869
CURRENT ASSETS
Stocks 6 20,436 22,027
Debtors 7 92,549 108,704
Cash at bank and in hand 32,282 59,298
145,267 190,029
Creditors: Amounts Falling Due Within One Year 8 (133,791 ) (126,851 )
NET CURRENT ASSETS (LIABILITIES) 11,476 63,178
TOTAL ASSETS LESS CURRENT LIABILITIES 53,797 118,047
Creditors: Amounts Falling Due After More Than One Year 9 (14,583 ) -
PROVISIONS FOR LIABILITIES
Deferred Taxation (7,966 ) (10,334 )
NET ASSETS 31,248 107,713
CAPITAL AND RESERVES
Called up share capital 10 30,100 30,100
Profit and Loss Account 1,148 77,613
SHAREHOLDERS' FUNDS 31,248 107,713
Page 1
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 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 Doherty
Director
19th June 2025
The notes on pages 3 to 7 form part of these financial statements.
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Page 3
Notes to the Financial Statements
1. General Information
Greenside Packaging Services Limited is a private company, limited by shares, incorporated in England & Wales, registered number 04638866 . The registered office is Unit 17 Shepley Industrial Estate South, Audenshaw, Manchester, M34 5DW.
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 arising on the acquisition of a business in 2003 represents the excess of the amounts paid 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, and was fully amortised several years ago.
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:
Leasehold 10% straight line
Plant & Machinery 25% reducing balance
Fixtures & Fittings 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.
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2.6. Financial Instruments
The company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, and investments in non-puttable ordinary shares.

For financial assets measured at cost less impairment, the impairment loss is measured as the difference between an asset's carrying amount and best estimate of the recoverable amount, which is an approximation of the amount that the company would receive for the asset if it were sold at the balance sheet date.
2.7. Foreign Currencies
Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate ruling on the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
2.8. 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.
2.9. Cash and cash equivalents
Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.
2.10. Retirement benefits
Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.
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2.11. Leases
Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the leased assets are comsumed.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 8 (2024: 9)
8 9
4. Intangible Assets
Goodwill
£
Cost
As at 1 April 2024 5,000
As at 31 March 2025 5,000
Amortisation
As at 1 April 2024 5,000
As at 31 March 2025 5,000
Net Book Value
As at 31 March 2025 -
As at 1 April 2024 -
5. Tangible Assets
Land & Property
Leasehold Plant & Machinery Fixtures & Fittings Total
£ £ £ £
Cost
As at 1 April 2024 45,012 226,873 11,446 283,331
Additions - - 308 308
As at 31 March 2025 45,012 226,873 11,754 283,639
Depreciation
As at 1 April 2024 37,035 181,314 10,113 228,462
Provided during the period 1,133 11,390 333 12,856
As at 31 March 2025 38,168 192,704 10,446 241,318
Net Book Value
As at 31 March 2025 6,844 34,169 1,308 42,321
As at 1 April 2024 7,977 45,559 1,333 54,869
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Page 6
6. Stocks
2025 2024
£ £
Stock 20,436 22,027
7. Debtors
2025 2024
£ £
Due within one year
Trade debtors 34,618 53,473
Prepayments and accrued income 57,931 55,231
92,549 108,704
8. Creditors: Amounts Falling Due Within One Year
2025 2024
£ £
Trade creditors 93,691 67,902
Bank loans and overdrafts 8,333 5,833
Other taxes and social security 7,714 21,977
Other creditors 20,000 207
Accruals and deferred income 4,053 30,932
133,791 126,851
9. Creditors: Amounts Falling Due After More Than One Year
2025 2024
£ £
Bank loans 14,583 -
10. Share Capital
2025 2024
£ £
Allotted, Called up and fully paid 30,100 30,100
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11. Other Commitments
The total of future minimum lease payments under non-cancellable operating leases are as following:
2025 2024
£ £
Later than one year and not later than five years 300,000 380,000
300,000 380,000
The above is the total rent payable under a lease of business premises which expires within five years.
12. Related Party Transactions
Dividends totalling £27,460 (2024: £41,500) were paid in the year in respect of shares held by Mr M Doherty, the company director.
At the year-end Mr M Doherty was owed £20,000 (2024: £207) by the company. The directors loan account balance is included within 'Other Creditors: amounts falling due within one year' at the year-end.
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