Acorah Software Products - Accounts Production 16.4.660 false true 31 December 2023 1 January 2023 false 6 August 2025 1 January 2024 31 December 2024 31 December 2024 12544953 Mr Kemal Tahir Guleryuz Mr Altay Türkekul Dogan Redfern Legal LLP iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 12544953 2023-12-31 12544953 2024-12-31 12544953 2024-01-01 2024-12-31 12544953 frs-core:CurrentFinancialInstruments 2024-12-31 12544953 frs-core:ComputerEquipment 2024-12-31 12544953 frs-core:ComputerEquipment 2024-01-01 2024-12-31 12544953 frs-core:ComputerEquipment 2023-12-31 12544953 frs-core:ShareCapital 2024-12-31 12544953 frs-core:RetainedEarningsAccumulatedLosses 2024-12-31 12544953 frs-bus:PrivateLimitedCompanyLtd 2024-01-01 2024-12-31 12544953 frs-bus:FilletedAccounts 2024-01-01 2024-12-31 12544953 frs-bus:SmallEntities 2024-01-01 2024-12-31 12544953 frs-bus:Audited 2024-01-01 2024-12-31 12544953 frs-bus:SmallCompaniesRegimeForAccounts 2024-01-01 2024-12-31 12544953 frs-bus:Director1 2024-01-01 2024-12-31 12544953 frs-bus:Director2 2024-01-01 2024-12-31 12544953 frs-bus:CompanySecretary1 2024-01-01 2024-12-31 12544953 frs-countries:EnglandWales 2024-01-01 2024-12-31 12544953 2022-12-31 12544953 2023-12-31 12544953 2023-01-01 2023-12-31 12544953 frs-core:CurrentFinancialInstruments 2023-12-31 12544953 frs-core:ShareCapital 2023-12-31 12544953 frs-core:RetainedEarningsAccumulatedLosses 2023-12-31
Registered number: 12544953
GULERMAK RENEWABLES LTD
Financial Statements
For The Year Ended 31 December 2024
Porte Consulting Corporate Ltd
Contents
Page
Balance Sheet 1
Notes to the Financial Statements 2—5
Page 1
Balance Sheet
Registered number: 12544953
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 10,104 -
10,104 -
CURRENT ASSETS
Debtors 5 20,343 9,227
Cash at bank and in hand 43,057 32,589
63,400 41,816
Creditors: Amounts Falling Due Within One Year 6 (218,934 ) (29,050 )
NET CURRENT ASSETS (LIABILITIES) (155,534 ) 12,766
TOTAL ASSETS LESS CURRENT LIABILITIES (145,430 ) 12,766
NET (LIABILITIES)/ASSETS (145,430 ) 12,766
CAPITAL AND RESERVES
Called up share capital 7 1 1
Profit and Loss Account (145,431 ) 12,765
SHAREHOLDERS' FUNDS (145,430) 12,766
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 Altay Türkekul Dogan
Director
29/07/2025
The notes on pages 2 to 5 form part of these financial statements.
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Page 2
Notes to the Financial Statements
1. General Information
GULERMAK RENEWABLES LTD is a private company, limited by shares, incorporated in England & Wales, registered number 12544953 . The registered office is C/O Redfern Legal Llp 7 Henrietta Street, Covent Garden, London, United Kingdom, WC2E 8PS.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
2.1.0 Company Information
The registered office for GÜLERMAK UK LIMITED is at C/0 Redfern Legal Up 7 Henrietta Street, Covent Garden, London, United Kinodom, WC2E 8PS
2.1.1 Reporting period
The reporting period is from 01 January 2024 to 31 December 2024.
2.1.2 Accounting convention
These financial statements have been prepared in accordance with FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" ("FRS 102") and th♦e requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section lA of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view. The financial statements are prepared in GBP, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest GBP.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
2.1.3 Going concern
At the time of approving the financial statements, the director has a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus the director continues to adopt the going concern basis of accounting in preparing the financial statements.
2.1.4 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.
2.1.6 Financial instruments
The company has elected to apply the provisions of Section 11 'Basic Financial Instruments' and Section 12 'Other Financial Instruments Issues' of FRS 102 to all of its financial instruments.
Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.
Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.
Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.
Classification of financial liabilities
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.
Basic financial liabilities
Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.
2.1.7 Equity instruments
Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.
...CONTINUED
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2.1. Basis of Preparation of Financial Statements - continued
2.1.8 Judgements and key sourcies of estimation uncertainty
In tho application of the company's accounting policies, the director is roquired to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to bo relevant. Actual results may differ from these estimates. The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised In the period in which the estimate Is revised where the revision affects only that poriod, or in tho period of the revision and future periods where the revision affects both current and future periods.
In the opinion of the director, there are no areas involving a high degree of judgements of estimates made.
2.2. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover is specially earned from the rendering of services. 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:
Computer Equipment 20% Straight Line
3. Average Number of Employees
Average number of employees, including directors, during the year was: 5 (2023: 2)
5 2
4. Tangible Assets
Computer Equipment
£
Cost
As at 1 January 2024 -
Additions 10,513
As at 31 December 2024 10,513
Depreciation
As at 1 January 2024 -
Provided during the period 409
As at 31 December 2024 409
Net Book Value
As at 31 December 2024 10,104
As at 1 January 2024 -
Page 3
Page 4
5. Debtors
2024 2023
£ £
Due within one year
Prepayments and accrued income 20,343 8,449
Other taxes and social security - 778
20,343 9,227
6. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 155,439 10,471
Corporation tax - 2,796
Other taxes and social security 27,580 -
Net wages 22,521 7,217
Pension 1,717 -
Accruals and deferred income 11,677 8,566
218,934 29,050
7. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 1 1
8. Related Party Transactions
Related party transactions during the year between GÜLERMAK  RENEWABLES LIMITED and PPP SOLUTIONS POLSKA 2 SP were £650,000 (2023: £308,000).
PPP Solutions Polska 2 SP are related due to common control.
Related party transactions during the year between GÜLERMAK  RENEWABLES LIMITED and GÜLERMAK  AGIR SANAYI INSAAT VE TAAHHUT A.S. were £0 (2023: £930,815).
GÜLERMAK AGJR SANAYI 'INSAAT VE TAAHHOT A.S Is our parent company, (2022: GÜLERMAK  AGIR SANAYI 'INSAAT VE TAAHHOT A.S), who prepare consolidated accounts, and these are available from Konya Devlet Yolu 23. Km Glllba • 06830. 
Directors Salaries for the year Including bonus was £226,061.
9. Ultimate Controlling Party:
The company is a wholly owned subsidiary of GÜLERMAK AGIR SANAYI 'INSAAT VE TAAHHOT A.S, a company incorporated in Turkey, (2022: GULERMAK AGIR SANAYl 'INSAAT VE TAAHHOT A.S),
The ultimate Beneficial Owner Is Mr Kemal Tahir Guleryuz, who is also a Director of the company, (2023: Mr Kemal Tahir Guleryuz).
Page 4
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9. Audit Information
The auditor's report on the accounts of GULERMAK RENEWABLES LTD for the year ended 31 December 2024 was unqualified.
The auditor's report was signed by Paul Mattei (Senior Statutory Auditor) for and on behalf of Leaman Mattei Limited , Statutory Auditor.
Leaman Mattei Limited
Suite 1
First floor
1 Duchess Street
London
W1W 6AN
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