Acorah Software Products - Accounts Production 16.3.350 false true true 31 December 2023 1 January 2023 false 1 January 2024 31 December 2024 31 December 2024 04279760 Mr Scott Hughes Mr Paul Slaughter Mr Scott Hughes Mr S Hughes and Mr P Slaughter true iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 04279760 2023-12-31 04279760 2024-12-31 04279760 2024-01-01 2024-12-31 04279760 frs-core:CurrentFinancialInstruments 2024-12-31 04279760 frs-core:Non-currentFinancialInstruments 2024-12-31 04279760 frs-core:BetweenOneFiveYears 2024-12-31 04279760 frs-core:FurnitureFittings 2024-12-31 04279760 frs-core:FurnitureFittings 2024-01-01 2024-12-31 04279760 frs-core:FurnitureFittings 2023-12-31 04279760 frs-core:MotorVehicles 2024-12-31 04279760 frs-core:MotorVehicles 2024-01-01 2024-12-31 04279760 frs-core:MotorVehicles 2023-12-31 04279760 frs-core:PlantMachinery 2024-12-31 04279760 frs-core:PlantMachinery 2024-01-01 2024-12-31 04279760 frs-core:PlantMachinery 2023-12-31 04279760 frs-core:WithinOneYear 2024-12-31 04279760 frs-core:ShareCapital 2024-12-31 04279760 frs-core:RetainedEarningsAccumulatedLosses 2024-12-31 04279760 frs-bus:PrivateLimitedCompanyLtd 2024-01-01 2024-12-31 04279760 frs-bus:FilletedAccounts 2024-01-01 2024-12-31 04279760 frs-bus:SmallEntities 2024-01-01 2024-12-31 04279760 frs-bus:AuditExempt-NoAccountantsReport 2024-01-01 2024-12-31 04279760 frs-bus:SmallCompaniesRegimeForAccounts 2024-01-01 2024-12-31 04279760 1 2024-01-01 2024-12-31 04279760 frs-bus:Director1 2024-01-01 2024-12-31 04279760 frs-bus:Director1 2023-12-31 04279760 frs-bus:Director1 2024-12-31 04279760 frs-bus:Director2 2024-01-01 2024-12-31 04279760 frs-bus:Director2 2023-12-31 04279760 frs-bus:Director2 2024-12-31 04279760 frs-bus:CompanySecretary1 2024-01-01 2024-12-31 04279760 frs-core:CurrentFinancialInstruments 1 2024-12-31 04279760 frs-core:CurrentFinancialInstruments 2 2024-12-31 04279760 frs-countries:EnglandWales 2024-01-01 2024-12-31 04279760 2022-12-31 04279760 2023-12-31 04279760 2023-01-01 2023-12-31 04279760 frs-core:CurrentFinancialInstruments 2023-12-31 04279760 frs-core:Non-currentFinancialInstruments 2023-12-31 04279760 frs-core:BetweenOneFiveYears 2023-12-31 04279760 frs-core:MotorVehicles 2023-01-01 2023-12-31 04279760 frs-core:PlantMachinery 2023-01-01 2023-12-31 04279760 frs-core:WithinOneYear 2023-12-31 04279760 frs-core:ShareCapital 2023-12-31 04279760 frs-core:RetainedEarningsAccumulatedLosses 2023-12-31 04279760 frs-core:CurrentFinancialInstruments 1 2023-12-31 04279760 frs-core:CurrentFinancialInstruments 2 2023-12-31
Registered number: 04279760
G.P.S. Projects Limited
Unaudited Financial Statements
For The Year Ended 31 December 2024
Brisan Accountancy Ltd
Canada House, First Floor, 20/20 Business Park
Maidstone
Kent
ME16 0LS
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—6
Page 1
Balance Sheet
Registered number: 04279760
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 421,338 363,448
421,338 363,448
CURRENT ASSETS
Stocks 5 439,750 474,750
Debtors 6 1,921,656 1,774,872
Cash at bank and in hand 421,219 1,681
2,782,625 2,251,303
Creditors: Amounts Falling Due Within One Year 7 (2,049,589 ) (1,630,202 )
NET CURRENT ASSETS (LIABILITIES) 733,036 621,101
TOTAL ASSETS LESS CURRENT LIABILITIES 1,154,374 984,549
Creditors: Amounts Falling Due After More Than One Year 8 (386,156 ) (384,682 )
PROVISIONS FOR LIABILITIES
Deferred Taxation 11 (64,882 ) (72,291 )
NET ASSETS 703,336 527,576
CAPITAL AND RESERVES
Called up share capital 12 200 200
Profit and Loss Account 703,136 527,376
SHAREHOLDERS' FUNDS 703,336 527,576
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For the year ending 31 December 2024 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 Scott Hughes
Director
Mr Paul Slaughter
Director
18 June 2025
The notes on pages 3 to 6 form part of these financial statements.
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Notes to the Financial Statements
1. General Information
G.P.S. Projects Limited is a private company, limited by shares, incorporated in England & Wales, registered number 04279760 . The registered office is Unit 10 Victory Park Trident Close, Medway City Estate, Rochester, Kent, ME2 4ER.
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. Going Concern Disclosure
The directors have not identified any material uncertainties related to events or conditions that may cast significant doubt about the company's ability to continue as a going concern.
2.3. 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.
2.4. 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 20% on reducing balance
Motor Vehicles 25% on reducing balance
Fixtures & Fittings 25% on reducing balance
2.5. Leasing and Hire Purchase Contracts
Assets obtained under hire purchase contracts and 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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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.
2.9. Government Grant
Grants for immediate financial support or to cover costs already incurred are recognised immediately in the profit and loss account. Grants towards general activities of the entity over a specific period are recognised in the profit and loss account over that period.
All grants in the profit and loss account are recognised when all conditions for receipt have been complied with.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 18 (2023: 19)
18 19
4. Tangible Assets
Plant & Machinery Motor Vehicles Fixtures & Fittings Total
£ £ £ £
Cost
As at 1 January 2024 526,974 416,289 29,259 972,522
Additions 55,607 108,167 - 163,774
Disposals - (49,793 ) - (49,793 )
As at 31 December 2024 582,581 474,663 29,259 1,086,503
Depreciation
As at 1 January 2024 374,880 214,618 19,576 609,074
Provided during the period 32,089 64,858 2,421 99,368
Disposals - (43,277 ) - (43,277 )
As at 31 December 2024 406,969 236,199 21,997 665,165
Net Book Value
As at 31 December 2024 175,612 238,464 7,262 421,338
As at 1 January 2024 152,094 201,671 9,683 363,448
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Included above are assets held under finance leases or hire purchase contracts with a net book value as follows:
2024 2023
£ £
Plant & Machinery 81,047 40,773
Motor Vehicles 179,598 138,411
260,645 179,184
5. Stocks
2024 2023
£ £
Stocks 439,750 474,750
6. Debtors
2024 2023
£ £
Due within one year
Trade debtors 954,186 562,228
Prepayments and accrued income 310,288 489,920
Other debtors 657,182 665,581
VAT - 57,143
1,921,656 1,774,872
7. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Net obligations under finance lease and hire purchase contracts 62,867 49,438
Trade creditors 1,312,409 1,078,592
Bank loans and overdrafts 50,000 102,471
Other taxes and social security 32,159 25,985
VAT 245,337 -
Other creditors 9,000 63,070
Credit card 92,275 132,156
Accrued expenses 205,368 177,482
Accruals and deferred income 29,537 1,008
Directors' loan accounts 6,000 -
Amounts owed to associates 4,637 -
2,049,589 1,630,202
8. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Net obligations under finance lease and hire purchase contracts 180,489 106,793
Bank loans 205,667 277,889
386,156 384,682
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9. Secured Creditors
Of the creditors the following amounts are secured.
2024 2023
£ £
Net obligations under finance lease and hire purchase contracts 243,356 156,231
Bank loans and overdrafts 189,000 189,000
10. Obligations Under Finance Leases and Hire Purchase
2024 2023
£ £
The future minimum finance lease payments are as follows:
Not later than one year 74,916 49,438
Later than one year and not later than five years 193,480 106,793
268,396 156,231
Less: Finance charges allocated to future periods 25,040 -
243,356 156,231
11. Deferred Taxation
The provision for deferred tax is made up as follows:
2024 2023
£ £
Other timing differences 64,882 72,291
12. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 200 200
13. Directors Advances, Credits and Guarantees
Included within creditors are the following loans from directors:
As at 1 January 2024 Amounts advanced Amounts repaid Amounts written off As at 31 December 2024
£ £ £ £ £
Mr Scott Hughes - - 3,000 - 3,000
Mr Paul Slaughter - - 3,000 - 3,000
The above loan is unsecured, interest free, repayable on demand by the company and ranks equally with other unsecured creditors of the company.
14. Related Party Transactions
At the year end the company owed a company under common control of the shareholders £4,637 (2023: £18,753).  The loan is interest free and repayable on demand.
15. Ultimate Controlling Party
The company's ultimate controlling parties are Mr S Hughes and Mr P Slaughter by virtue of their majority ownership of the issued share capital in the company.
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