Acorah Software Products - Accounts Production 16.4.675 false true 31 December 2023 1 January 2023 false 1 January 2024 31 December 2024 31 December 2024 02199572 Mr Peter Cheesbrough Mr Henry Gilbraith Mr Henry Gilbraith iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 02199572 2023-12-31 02199572 2024-12-31 02199572 2024-01-01 2024-12-31 02199572 frs-core:CurrentFinancialInstruments 2024-12-31 02199572 frs-core:ComputerEquipment 2024-12-31 02199572 frs-core:ComputerEquipment 2024-01-01 2024-12-31 02199572 frs-core:ComputerEquipment 2023-12-31 02199572 frs-core:FurnitureFittings 2024-12-31 02199572 frs-core:FurnitureFittings 2024-01-01 2024-12-31 02199572 frs-core:FurnitureFittings 2023-12-31 02199572 frs-core:NetGoodwill 2024-12-31 02199572 frs-core:NetGoodwill 2024-01-01 2024-12-31 02199572 frs-core:NetGoodwill 2023-12-31 02199572 frs-core:MotorVehicles 2024-12-31 02199572 frs-core:MotorVehicles 2024-01-01 2024-12-31 02199572 frs-core:MotorVehicles 2023-12-31 02199572 frs-core:PlantMachinery 2024-12-31 02199572 frs-core:PlantMachinery 2024-01-01 2024-12-31 02199572 frs-core:PlantMachinery 2023-12-31 02199572 frs-core:RevaluationReserve 2023-12-31 02199572 frs-core:RevaluationReserve 2024-12-31 02199572 frs-core:ShareCapital 2024-12-31 02199572 frs-core:RetainedEarningsAccumulatedLosses 2024-12-31 02199572 frs-bus:PrivateLimitedCompanyLtd 2024-01-01 2024-12-31 02199572 frs-bus:FilletedAccounts 2024-01-01 2024-12-31 02199572 frs-bus:SmallEntities 2024-01-01 2024-12-31 02199572 frs-bus:AuditExempt-NoAccountantsReport 2024-01-01 2024-12-31 02199572 frs-bus:SmallCompaniesRegimeForAccounts 2024-01-01 2024-12-31 02199572 frs-bus:Director1 2024-01-01 2024-12-31 02199572 frs-bus:Director2 2024-01-01 2024-12-31 02199572 frs-bus:CompanySecretary1 2024-01-01 2024-12-31 02199572 frs-countries:EnglandWales 2024-01-01 2024-12-31 02199572 2022-12-31 02199572 2023-12-31 02199572 2023-01-01 2023-12-31 02199572 frs-core:CurrentFinancialInstruments 2023-12-31 02199572 frs-core:RevaluationReserve 2023-12-31 02199572 frs-core:ShareCapital 2023-12-31 02199572 frs-core:RetainedEarningsAccumulatedLosses 2023-12-31
Registered number: 02199572
Gilbraith Logistics Limited
Unaudited Financial Statements
For The Year Ended 31 December 2024
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 02199572
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 5 199 2,669
Investment Properties 6 3,100,000 3,100,000
3,100,199 3,102,669
CURRENT ASSETS
Debtors 7 15,751 57,857
Cash at bank and in hand 355,544 206,821
371,295 264,678
Creditors: Amounts Falling Due Within One Year 8 (99,192 ) (138,460 )
NET CURRENT ASSETS (LIABILITIES) 272,103 126,218
TOTAL ASSETS LESS CURRENT LIABILITIES 3,372,302 3,228,887
NET ASSETS 3,372,302 3,228,887
CAPITAL AND RESERVES
Called up share capital 9 850,000 850,000
Revaluation reserve 10 1,729,217 1,729,217
Profit and Loss Account 793,085 649,670
SHAREHOLDERS' FUNDS 3,372,302 3,228,887
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 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 Henry Gilbraith
Director
08/08/2025
The notes on pages 3 to 5 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Gilbraith Logistics Limited is a private company, limited by shares, incorporated in England & Wales, registered number 02199572 . The registered office is Transport House Bolton Road Freight Terminal, Iron Street, Blackburn, Lancashire, BB2 3QQ.
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. 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 the profit and loss account over its estimated economic life of .... years.
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 at variable rates on reducing balance
Motor Vehicles 30% on reducing balance
Fixtures & Fittings at variable rates on reducing balance
Computer Equipment at variable rates on reducing balance
2.5. Investment Properties
All investment properties are carried at fair value determined annually and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided for. Changes in fair value are recognised in the profit and loss account.
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 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.
...CONTINUED
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2.6. Taxation - continued
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.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 4 (2023: 1)
4 1
4. Intangible Assets
Goodwill
£
Cost
As at 1 January 2024 2,500
As at 31 December 2024 2,500
Amortisation
As at 1 January 2024 2,500
As at 31 December 2024 2,500
Net Book Value
As at 31 December 2024 -
As at 1 January 2024 -
5. Tangible Assets
Plant & Machinery Motor Vehicles Fixtures & Fittings Computer Equipment Total
£ £ £ £ £
Cost
As at 1 January 2024 1,000 1,250 55,712 8,135 66,097
As at 31 December 2024 1,000 1,250 55,712 8,135 66,097
Depreciation
As at 1 January 2024 1,000 1,250 54,759 6,419 63,428
Provided during the period - - 898 1,572 2,470
As at 31 December 2024 1,000 1,250 55,657 7,991 65,898
Net Book Value
As at 31 December 2024 - - 55 144 199
As at 1 January 2024 - - 953 1,716 2,669
6. Investment Property
2024
£
Fair Value
As at 1 January 2024 and 31 December 2024 3,100,000
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Page 5
7. Debtors
2024 2023
£ £
Due within one year
Trade debtors 9,051 57,857
Prepayments and accrued income 2,170 -
VAT 4,530 -
15,751 57,857
8. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 1,141 255
Corporation tax 65,854 55,798
VAT - 9,773
Other creditors 7,800 14,000
Accruals and deferred income 19,597 50,634
Directors' loan accounts 4,800 8,000
99,192 138,460
9. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 850,000 850,000
10. Reserves
Revaluation Reserve
£
As at 1 January 2024 1,729,217
As at 31 December 2024 1,729,217
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