Acorah Software Products - Accounts Production 16.4.675 false true true 31 December 2023 1 January 2023 false 1 January 2024 31 December 2024 31 December 2024 09144248 Mr Gavin Tuck iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 09144248 2023-12-31 09144248 2024-12-31 09144248 2024-01-01 2024-12-31 09144248 frs-core:CurrentFinancialInstruments 2024-12-31 09144248 frs-core:Non-currentFinancialInstruments 2024-12-31 09144248 frs-core:BetweenOneFiveYears 2024-12-31 09144248 frs-core:FurnitureFittings 2024-12-31 09144248 frs-core:FurnitureFittings 2024-01-01 2024-12-31 09144248 frs-core:FurnitureFittings 2023-12-31 09144248 frs-core:NetGoodwill 2024-12-31 09144248 frs-core:NetGoodwill 2024-01-01 2024-12-31 09144248 frs-core:NetGoodwill 2023-12-31 09144248 frs-core:MotorVehicles 2024-12-31 09144248 frs-core:MotorVehicles 2024-01-01 2024-12-31 09144248 frs-core:MotorVehicles 2023-12-31 09144248 frs-core:PlantMachinery 2024-12-31 09144248 frs-core:PlantMachinery 2024-01-01 2024-12-31 09144248 frs-core:PlantMachinery 2023-12-31 09144248 frs-core:WithinOneYear 2024-12-31 09144248 frs-core:ShareCapital 2024-12-31 09144248 frs-core:RetainedEarningsAccumulatedLosses 2024-12-31 09144248 frs-bus:PrivateLimitedCompanyLtd 2024-01-01 2024-12-31 09144248 frs-bus:FilletedAccounts 2024-01-01 2024-12-31 09144248 frs-bus:SmallEntities 2024-01-01 2024-12-31 09144248 frs-bus:AuditExempt-NoAccountantsReport 2024-01-01 2024-12-31 09144248 frs-bus:SmallCompaniesRegimeForAccounts 2024-01-01 2024-12-31 09144248 frs-bus:Director1 2024-01-01 2024-12-31 09144248 frs-bus:Director1 2023-12-31 09144248 frs-bus:Director1 2024-12-31 09144248 frs-countries:EnglandWales 2024-01-01 2024-12-31 09144248 2022-12-31 09144248 2023-12-31 09144248 2023-01-01 2023-12-31 09144248 frs-core:CurrentFinancialInstruments 2023-12-31 09144248 frs-core:Non-currentFinancialInstruments 2023-12-31 09144248 frs-core:BetweenOneFiveYears 2023-12-31 09144248 frs-core:MotorVehicles 2023-01-01 2023-12-31 09144248 frs-core:WithinOneYear 2023-12-31 09144248 frs-core:ShareCapital 2023-12-31 09144248 frs-core:RetainedEarningsAccumulatedLosses 2023-12-31
Registered number: 09144248
GMEC Solutions Limited
Unaudited Financial Statements
For The Year Ended 31 December 2024
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—6
Page 1
Balance Sheet
Registered number: 09144248
2024 2023
Notes £ £ £ £
FIXED ASSETS
Intangible Assets 4 4,685 7,028
Tangible Assets 5 175,257 92,351
179,942 99,379
CURRENT ASSETS
Stocks 6 45,885 1,528
Debtors 7 169,807 220,652
Cash at bank and in hand 127,550 174,496
343,242 396,676
Creditors: Amounts Falling Due Within One Year 8 (218,651 ) (237,342 )
NET CURRENT ASSETS (LIABILITIES) 124,591 159,334
TOTAL ASSETS LESS CURRENT LIABILITIES 304,533 258,713
Creditors: Amounts Falling Due After More Than One Year 9 (109,778 ) (63,592 )
PROVISIONS FOR LIABILITIES
Deferred Taxation (43,814 ) (23,088 )
NET ASSETS 150,941 172,033
CAPITAL AND RESERVES
Called up share capital 11 100 100
Profit and Loss Account 150,841 171,933
SHAREHOLDERS' FUNDS 150,941 172,033
Page 1
Page 2
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 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 Gavin Tuck
Director
5 August 2025
The notes on pages 3 to 6 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
GMEC Solutions Limited is a private company, limited by shares, incorporated in England & Wales, registered number 09144248 . The registered office is Offices 37 & 38, Apollo Business Village, Heol Persondy, Aberkenfig, Bridgend, CF32 9TF.
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. 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.
2.5. 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% Reducing Balance
Motor Vehicles 25% Reducing Balance
Fixtures & Fittings 20% Reducing Balance
2.6. 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.
2.7. 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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2.8. 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 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.
2.9. 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.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 9 (2023: 6)
9 6
4. Intangible Assets
Goodwill
£
Cost
As at 1 January 2024 23,427
As at 31 December 2024 23,427
Amortisation
As at 1 January 2024 16,399
Provided during the period 2,343
As at 31 December 2024 18,742
Net Book Value
As at 31 December 2024 4,685
As at 1 January 2024 7,028
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Page 5
5. Tangible Assets
Plant & Machinery Motor Vehicles Fixtures & Fittings Total
£ £ £ £
Cost
As at 1 January 2024 36,028 100,366 11,715 148,109
Additions 24,123 87,080 10,496 121,699
Disposals (4,800 ) - - (4,800 )
As at 31 December 2024 55,351 187,446 22,211 265,008
Depreciation
As at 1 January 2024 12,002 38,143 5,613 55,758
Provided during the period 8,008 26,690 2,141 36,839
Disposals (2,846 ) - - (2,846 )
As at 31 December 2024 17,164 64,833 7,754 89,751
Net Book Value
As at 31 December 2024 38,187 122,613 14,457 175,257
As at 1 January 2024 24,026 62,223 6,102 92,351
Included above are assets held under finance leases or hire purchase contracts with a net book value as follows:
2024 2023
£ £
Motor Vehicles 117,101 54,875
6. Stocks
2024 2023
£ £
Work in progress 45,885 1,528
7. Debtors
2024 2023
£ £
Due within one year
Trade debtors 97,150 170,289
Other debtors 72,657 50,363
169,807 220,652
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8. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Net obligations under finance lease and hire purchase contracts 40,821 15,970
Trade creditors 74,876 95,244
Bank loans and overdrafts 3,333 3,333
Amounts owed to group undertakings 40,100 -
Other creditors 6,387 38,575
Taxation and social security 53,134 84,220
218,651 237,342
9. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Net obligations under finance lease and hire purchase contracts 95,056 45,537
Bank loans 14,722 18,055
109,778 63,592
10. Obligations Under Finance Leases and Hire Purchase
2024 2023
£ £
The future minimum finance lease payments are as follows:
Not later than one year 40,821 15,970
Later than one year and not later than five years 95,056 45,537
135,877 61,507
135,877 61,507
11. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 100 100
12. Pension Commitments
The company operates a defined contribution pension scheme for it's employees. The assets of the scheme are held separately from those of the company in an independently administered fund. At the balance sheet date unpaid contributions of £2,340 (2023: £622) were due to the fund. They are included in Other Creditors.
13. Directors Advances, Credits and Guarantees
Included within Debtors are the following loans to directors:
As at 1 January 2024 Amounts advanced Amounts repaid Amounts written off As at 31 December 2024
£ £ £ £ £
Mr Gavin Tuck 18,222 62,980 (50,964 ) - 30,238
The above loan is unsecured, interest free and repayable on demand.
14. Related Party Transactions
At the year end there were amounts owing to group companies of £40,100 (2023: £0)
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