Acorah Software Products - Accounts Production 16.4.675 false true 31 October 2023 1 November 2022 false 1 November 2023 31 October 2024 31 October 2024 02156869 Mr G Lambert Mrs D Lambert Mr J Lambert Mr J Lambert iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 02156869 2023-10-31 02156869 2024-10-31 02156869 2023-11-01 2024-10-31 02156869 frs-core:CurrentFinancialInstruments 2024-10-31 02156869 frs-core:Non-currentFinancialInstruments 2024-10-31 02156869 frs-core:BetweenOneFiveYears 2024-10-31 02156869 frs-core:LandBuildings frs-core:OwnedOrFreeholdAssets 2024-10-31 02156869 frs-core:LandBuildings frs-core:OwnedOrFreeholdAssets 2023-11-01 2024-10-31 02156869 frs-core:LandBuildings frs-core:OwnedOrFreeholdAssets 2023-10-31 02156869 frs-core:MotorVehicles 2023-11-01 2024-10-31 02156869 frs-core:PlantMachinery 2024-10-31 02156869 frs-core:PlantMachinery 2023-11-01 2024-10-31 02156869 frs-core:PlantMachinery 2023-10-31 02156869 frs-core:WithinOneYear 2024-10-31 02156869 frs-core:ShareCapital 2024-10-31 02156869 frs-core:RetainedEarningsAccumulatedLosses 2024-10-31 02156869 frs-bus:PrivateLimitedCompanyLtd 2023-11-01 2024-10-31 02156869 frs-bus:FilletedAccounts 2023-11-01 2024-10-31 02156869 frs-bus:SmallEntities 2023-11-01 2024-10-31 02156869 frs-bus:AuditExempt-NoAccountantsReport 2023-11-01 2024-10-31 02156869 frs-bus:SmallCompaniesRegimeForAccounts 2023-11-01 2024-10-31 02156869 frs-bus:Director1 2023-11-01 2024-10-31 02156869 frs-bus:Director1 2023-10-31 02156869 frs-bus:Director1 2024-10-31 02156869 frs-bus:Director2 2023-11-01 2024-10-31 02156869 frs-bus:Director3 2023-11-01 2024-10-31 02156869 frs-bus:CompanySecretary1 2023-11-01 2024-10-31 02156869 1 2023-11-01 2024-10-31 02156869 frs-countries:EnglandWales 2023-11-01 2024-10-31 02156869 2022-10-31 02156869 2023-10-31 02156869 2022-11-01 2023-10-31 02156869 frs-core:CurrentFinancialInstruments 2023-10-31 02156869 frs-core:Non-currentFinancialInstruments 2023-10-31 02156869 frs-core:BetweenOneFiveYears 2023-10-31 02156869 frs-core:WithinOneYear 2023-10-31 02156869 frs-core:ShareCapital 2023-10-31 02156869 frs-core:RetainedEarningsAccumulatedLosses 2023-10-31 02156869 1 2022-11-01 2023-10-31
Registered number: 02156869
GSD Lambert and Sons Limited
Unaudited Financial Statements
For The Year Ended 31 October 2024
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—6
Page 1
Balance Sheet
Registered number: 02156869
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 964,897 1,245,252
964,897 1,245,252
CURRENT ASSETS
Stocks 5 10,400 10,400
Debtors 6 719,907 807,339
Cash at bank and in hand 20,356 407,378
750,663 1,225,117
Creditors: Amounts Falling Due Within One Year 7 (460,079 ) (752,666 )
NET CURRENT ASSETS (LIABILITIES) 290,584 472,451
TOTAL ASSETS LESS CURRENT LIABILITIES 1,255,481 1,717,703
Creditors: Amounts Falling Due After More Than One Year 8 (23,227 ) (3,119 )
PROVISIONS FOR LIABILITIES
Deferred Taxation - (37,836 )
NET ASSETS 1,232,254 1,676,748
CAPITAL AND RESERVES
Called up share capital 11 1,000 1,000
Profit and Loss Account 1,231,254 1,675,748
SHAREHOLDERS' FUNDS 1,232,254 1,676,748
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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 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 G Lambert
Director
Mrs D Lambert
Director
Mr J Lambert
Director
11 July 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
GSD Lambert and Sons Limited is a private company, limited by shares, incorporated in England & Wales, registered number 02156869 . The registered office is Morley Hall, London Road, Morley St. Peter, Wymondham, Norfolk, NR18 9SY.
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 comprises revenue recognised by the company in respect of goods and services supplied exclusive of value added tax and trade discounts. 
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 between 4 - 10 years
Motor Vehicles between 4 - 7 years
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 the profit and loss account as incurred.
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. 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.
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2.7. Long-term contracts
Long-term contracts are treated as follows:

(a) the amount by which recorded turnover is in excess of payments on account are classified as amounts recoverable on contracts and separately disclosed within trade debtors.

(b) the balance of payments on account in excess of amounts matched with turnover and offset against long-term contract balances are classified as payments on account and separately disclosed within trade creditors.

(c) the amount of long-term contracts, at costs incurred, net of amounts transferred to cost of sales, after deducting foreseeable losses and payments on account not matched with turnover, are classified as 'long-term contract balances' and are separately within stock.
3. Average Number of Employees
Average number of employees, including directors, during the year was:
2024 2023
Employees 18 21
18 21
4. Tangible Assets
Land & Property
Freehold Plant & Machinery Total
£ £ £
Cost
As at 1 November 2023 330,820 4,521,760 4,852,580
Additions - 65,000 65,000
Disposals - (118,733 ) (118,733 )
As at 31 October 2024 330,820 4,468,027 4,798,847
Depreciation
As at 1 November 2023 - 3,607,328 3,607,328
Provided during the period - 262,490 262,490
Disposals - (35,868 ) (35,868 )
As at 31 October 2024 - 3,833,950 3,833,950
Net Book Value
As at 31 October 2024 330,820 634,077 964,897
As at 1 November 2023 330,820 914,432 1,245,252
5. Stocks
2024 2023
£ £
Stock 10,400 10,400
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6. Debtors
2024 2023
£ £
Due within one year
Trade debtors 582,339 662,848
Other debtors 137,568 144,491
719,907 807,339
7. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Net obligations under finance lease and hire purchase contracts 32,451 97,474
Trade creditors 341,193 553,650
Other creditors 60,997 62,511
Taxation and social security 25,438 39,031
460,079 752,666
8. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Net obligations under finance lease and hire purchase contracts 23,227 3,119
9. Secured Creditors
The loans in respect of the hire purchase are secured against the assets to which they relate.
2024 2023
£ £
Net obligations under finance lease and hire purchase contracts - 100,593
10. Obligations Under Finance Leases and Hire Purchase
2024 2023
£ £
The future minimum finance lease payments are as follows:
Not later than one year 32,451 97,474
Later than one year and not later than five years 23,227 3,119
55,678 100,593
55,678 100,593
11. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 1,000 1,000
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12. Directors Advances, Credits and Guarantees
Included within other debtors is a loan to the directors Mr G Lambert and Mrs D Lambert of £28,709 (2023 : £11,875).
As at 1 November 2023 Amounts advanced Amounts repaid Amounts written off As at 31 October 2024
£ £ £ £ £
Mr Gary Lambert 11,875 28,714 11,880 - 28,709
The above loan is unsecured, interest free and has been repaid since the year end.
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