Acorah Software Products - Accounts Production 16.3.350 false true 31 October 2023 1 November 2022 false 1 November 2023 31 October 2024 31 October 2024 05527259 Mr Dean Reep iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 05527259 2023-10-31 05527259 2024-10-31 05527259 2023-11-01 2024-10-31 05527259 frs-core:CurrentFinancialInstruments 2024-10-31 05527259 frs-core:Non-currentFinancialInstruments 2024-10-31 05527259 frs-core:BetweenOneFiveYears 2024-10-31 05527259 frs-core:ComputerEquipment 2024-10-31 05527259 frs-core:ComputerEquipment 2023-11-01 2024-10-31 05527259 frs-core:ComputerEquipment 2023-10-31 05527259 frs-core:FurnitureFittings 2024-10-31 05527259 frs-core:FurnitureFittings 2023-11-01 2024-10-31 05527259 frs-core:FurnitureFittings 2023-10-31 05527259 frs-core:MotorVehicles 2024-10-31 05527259 frs-core:MotorVehicles 2023-11-01 2024-10-31 05527259 frs-core:MotorVehicles 2023-10-31 05527259 frs-core:PlantMachinery 2024-10-31 05527259 frs-core:PlantMachinery 2023-11-01 2024-10-31 05527259 frs-core:PlantMachinery 2023-10-31 05527259 frs-core:WithinOneYear 2024-10-31 05527259 frs-core:CapitalRedemptionReserve 2024-10-31 05527259 frs-core:ShareCapital 2024-10-31 05527259 frs-core:RetainedEarningsAccumulatedLosses 2024-10-31 05527259 frs-bus:PrivateLimitedCompanyLtd 2023-11-01 2024-10-31 05527259 frs-bus:FilletedAccounts 2023-11-01 2024-10-31 05527259 frs-bus:SmallEntities 2023-11-01 2024-10-31 05527259 frs-bus:AuditExempt-NoAccountantsReport 2023-11-01 2024-10-31 05527259 frs-bus:SmallCompaniesRegimeForAccounts 2023-11-01 2024-10-31 05527259 frs-bus:Director1 2023-11-01 2024-10-31 05527259 frs-bus:Director1 2023-10-31 05527259 frs-bus:Director1 2024-10-31 05527259 frs-countries:EnglandWales 2023-11-01 2024-10-31 05527259 2022-10-31 05527259 2023-10-31 05527259 2022-11-01 2023-10-31 05527259 frs-core:CurrentFinancialInstruments 2023-10-31 05527259 frs-core:Non-currentFinancialInstruments 2023-10-31 05527259 frs-core:BetweenOneFiveYears 2023-10-31 05527259 frs-core:WithinOneYear 2023-10-31 05527259 frs-core:CapitalRedemptionReserve 2023-10-31 05527259 frs-core:ShareCapital 2023-10-31 05527259 frs-core:RetainedEarningsAccumulatedLosses 2023-10-31
Registered number: 05527259
Gap Technology Limited
Financial Statements
For The Year Ended 31 October 2024
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—7
Page 1
Balance Sheet
Registered number: 05527259
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 90,024 121,799
90,024 121,799
CURRENT ASSETS
Stocks 5 45,655 54,115
Debtors 6 494,380 405,493
Cash at bank and in hand 29,202 37,144
569,237 496,752
Creditors: Amounts Falling Due Within One Year 7 (586,896 ) (598,978 )
NET CURRENT ASSETS (LIABILITIES) (17,659 ) (102,226 )
TOTAL ASSETS LESS CURRENT LIABILITIES 72,365 19,573
Creditors: Amounts Falling Due After More Than One Year 8 (66,083 ) (95,848 )
PROVISIONS FOR LIABILITIES
Deferred Taxation (6,037 ) -
NET ASSETS/(LIABILITIES) 245 (76,275 )
CAPITAL AND RESERVES
Called up share capital 10 70 70
Capital redemption reserve 30 30
Profit and Loss Account 145 (76,375 )
SHAREHOLDERS' FUNDS 245 (76,275)
Page 1
Page 2
For the year ending 31 October 2024 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 Dean Reep
Director
26th June 2025
The notes on pages 3 to 7 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Gap Technology Limited is a private company, limited by shares, incorporated in England & Wales, registered number 05527259 . The registered office is Ava House 1 Hill Court, Aurillac Way, Hallcroft Industrial Estate, Retford, Nottinghamshire, DN22 7PX.
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 20% Straight Line
Motor Vehicles 25% Straight Line
Fixtures & Fittings 20% Straight Line
Computer Equipment 33% Straight Line
2.4. 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.
Page 3
Page 4
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.
2.6. 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.
2.7. 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 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.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 9 (2023: 9)
9 9
Page 4
Page 5
4. Tangible Assets
Plant & Machinery Motor Vehicles Fixtures & Fittings Computer Equipment Total
£ £ £ £ £
Cost
As at 1 November 2023 65,811 122,786 10,630 32,615 231,842
Additions 1,633 550 - 877 3,060
As at 31 October 2024 67,444 123,336 10,630 33,492 234,902
Depreciation
As at 1 November 2023 63,794 6,531 9,531 30,187 110,043
Provided during the period 2,316 30,189 879 1,451 34,835
As at 31 October 2024 66,110 36,720 10,410 31,638 144,878
Net Book Value
As at 31 October 2024 1,334 86,616 220 1,854 90,024
As at 1 November 2023 2,017 116,255 1,099 2,428 121,799
5. Stocks
2024 2023
£ £
Materials 45,655 25,000
Work in progress - 29,115
45,655 54,115
6. Debtors
2024 2023
£ £
Due within one year
Trade debtors 180,515 178,302
Amounts owed by group undertakings - 2,071
Other debtors 313,865 225,120
494,380 405,493
Page 5
Page 6
7. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Net obligations under finance lease and hire purchase contracts 10,885 11,819
Trade creditors 366,876 370,318
Bank loans and overdrafts 10,412 10,369
Other creditors 151,803 89,179
Taxation and social security 46,920 117,293
586,896 598,978
8. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Net obligations under finance lease and hire purchase contracts 60,661 80,014
Bank loans 5,422 15,834
66,083 95,848
9. Obligations Under Finance Leases and Hire Purchase
2024 2023
£ £
The future minimum finance lease payments are as follows:
Not later than one year 10,885 11,819
Later than one year and not later than five years 60,661 80,014
71,546 91,833
71,546 91,833
10. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 70 70
11. Directors Advances, Credits and Guarantees
Included within Debtors are the following loans to directors:
As at 1 November 2023 Amounts advanced Amounts repaid Amounts written off As at 31 October 2024
£ £ £ £ £
Mr Dean Reep 107,046 102,663 (44,712 ) - 164,997
The above loan is unsecured, interest free and repayable on demand.
Page 6
Page 7
12. Related Party Transactions
There were no additional related party transactions during the period such as are required to be disclosed under FRS 102 Section 1A - Small Entities.
Page 7