Acorah Software Products - Accounts Production 16.4.675 false true 30 November 2023 1 December 2022 false 1 December 2023 30 November 2024 30 November 2024 05823594 Mr Gethin Edwards iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 05823594 2023-11-30 05823594 2024-11-30 05823594 2023-12-01 2024-11-30 05823594 frs-core:CurrentFinancialInstruments 2024-11-30 05823594 frs-core:Non-currentFinancialInstruments 2024-11-30 05823594 frs-core:BetweenOneFiveYears 2024-11-30 05823594 frs-core:MotorVehicles 2023-12-01 2024-11-30 05823594 frs-core:PlantMachinery 2024-11-30 05823594 frs-core:PlantMachinery 2023-12-01 2024-11-30 05823594 frs-core:PlantMachinery 2023-11-30 05823594 frs-core:WithinOneYear 2024-11-30 05823594 frs-core:RevaluationReserve 2023-11-30 05823594 frs-core:RevaluationReserve 2024-11-30 05823594 frs-core:SharePremium 2024-11-30 05823594 frs-core:ShareCapital 2024-11-30 05823594 frs-core:RetainedEarningsAccumulatedLosses 2024-11-30 05823594 frs-bus:PrivateLimitedCompanyLtd 2023-12-01 2024-11-30 05823594 frs-bus:FilletedAccounts 2023-12-01 2024-11-30 05823594 frs-bus:SmallEntities 2023-12-01 2024-11-30 05823594 frs-bus:AuditExempt-NoAccountantsReport 2023-12-01 2024-11-30 05823594 frs-bus:SmallCompaniesRegimeForAccounts 2023-12-01 2024-11-30 05823594 frs-bus:Director1 2023-12-01 2024-11-30 05823594 frs-countries:EnglandWales 2023-12-01 2024-11-30 05823594 2022-11-30 05823594 2023-11-30 05823594 2022-12-01 2023-11-30 05823594 frs-core:CurrentFinancialInstruments 2023-11-30 05823594 frs-core:Non-currentFinancialInstruments 2023-11-30 05823594 frs-core:BetweenOneFiveYears 2023-11-30 05823594 frs-core:WithinOneYear 2023-11-30 05823594 frs-core:RevaluationReserve 2023-11-30 05823594 frs-core:SharePremium 2023-11-30 05823594 frs-core:ShareCapital 2023-11-30 05823594 frs-core:RetainedEarningsAccumulatedLosses 2023-11-30
Registered number: 05823594
G & S Projects Ltd
Unaudited Financial Statements
For The Year Ended 30 November 2024
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—7
Page 1
Balance Sheet
Registered number: 05823594
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 31,800 -
Investment Properties 5 6,025,000 5,635,000
6,056,800 5,635,000
CURRENT ASSETS
Debtors 6 99,371 136,017
Cash at bank and in hand 7,272 2,800
106,643 138,817
Creditors: Amounts Falling Due Within One Year 7 (896,126 ) (907,688 )
NET CURRENT ASSETS (LIABILITIES) (789,483 ) (768,871 )
TOTAL ASSETS LESS CURRENT LIABILITIES 5,267,317 4,866,129
Creditors: Amounts Falling Due After More Than One Year 8 (2,843,736 ) (2,637,993 )
PROVISIONS FOR LIABILITIES
Deferred Taxation (69,079 ) (69,079 )
NET ASSETS 2,354,502 2,159,057
CAPITAL AND RESERVES
Called up share capital 10 2 2
Share premium account 394,436 -
Revaluation reserve 11 2,016,221 2,216,221
Profit and Loss Account (56,157 ) (57,166 )
SHAREHOLDERS' FUNDS 2,354,502 2,159,057
Page 1
Page 2
For the year ending 30 November 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 Gethin Edwards
Director
27/08/2025
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
G & S Projects Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 05823594 . The registered office is Cadre Advisory Unit B Off Edge, Station Approach, Penarth, CF64 3EE.
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:
Motor Vehicles 25% Reducing Balance
2.4. 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.
2.5. 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.
Page 3
Page 4
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.
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.
2.7. Charges
Bath and West Finance Limited holds a fixed and floating charge and a negative pledge dated 3 November 2023 over G & S Projects Ltd on all monies, obligations and liabilities which may be due to Bath and West Finance Limited now and in the future. (charge code 058235940032)
Handelsbanken PLC holds a fixed and floating charge and a negative pledge dated 21 February 2023 over G & S Projects Ltd on all monies, obligations and liabilities which may be due to Handelsbanken PLC now and in the future. (charge code 058235940031)
Handelsbanken PLC holds a fixed and floating charge and a negative pledge dated 21 February 2023 over G & S Projects Ltd on all monies, obligations and liabilities which may be due to Handelsbanken PLC now and in the future. (charge code 058235940030)
Handelsbanken PLC holds a fixed and floating charge and a negative pledge dated 21 February 2023 over G & S Projects Ltd on all monies, obligations and liabilities which may be due to Handelsbanken PLC now and in the future. (charge code 058235940029)
Handelsbanken PLC holds a fixed and floating charge and a negative pledge dated 21 February 2023 over G & S Projects Ltd on all monies, obligations and liabilities which may be due to Handelsbanken PLC now and in the future. (charge code 058235940028)
Handelsbanken PLC holds a fixed and floating charge and a negative pledge dated 21 February 2023 over G & S Projects Ltd on all monies, obligations and liabilities which may be due to Handelsbanken PLC now and in the future. (charge code 058235940027)
Handelsbanken PLC holds a fixed and floating charge and a negative pledge dated 21 February 2023 over G & S Projects Ltd on all monies, obligations and liabilities which may be due to Handelsbanken PLC now and in the future. (charge code 058235940026)
Handelsbanken PLC holds a fixed and floating charge and a negative pledge dated 21 February 2023 over G & S Projects Ltd on all monies, obligations and liabilities which may be due to Handelsbanken PLC now and in the future. (charge code 058235940025)
Handelsbanken PLC holds a fixed and floating charge and a negative pledge dated 21 February 2023 over G & S Projects Ltd on all monies, obligations and liabilities which may be due to Handelsbanken PLC now and in the future. (charge code 058235940024)
Handelsbanken PLC holds a fixed and floating charge and a negative pledge dated 21 February 2023 over G & S Projects Ltd on all monies, obligations and liabilities which may be due to Handelsbanken PLC now and in the future. (charge code 058235940023)
One Stop Business Finance SPV Limited holds a fixed and floating charge and a negative pledge dated 15 February 2023 over G & S Projects Ltd on all monies, obligations and liabilities which may be due to One Stop Business Finance SPV Limited now and in the future. (charge code 058235940022)
...CONTINUED
Page 4
Page 5
2.7. Charges - continued
Bath and West Finance Limited holds a fixed and floating charge and a negative pledge dated 1 September 2022 over G & S Projects Ltd on all monies, obligations and liabilities which may be due to Bath and West Finance Limited now and in the future. (charge code 058235940021)
One Stop Business Finance SPV Limited holds a fixed and floating charge and a negative pledge dated 11 August 2022 over G & S Projects Ltd on all monies, obligations and liabilities which may be due to One Stop Business Finance SPV Limited now and in the future. (charge code 058235940020)
Handelsbanken PLC holds a fixed and floating charge and a negative pledge dated 30 July 2021 over G & S Projects Ltd on all monies, obligations and liabilities which may be due to Handelsbanken PLC now and in the future. (charge code 058235940019)
Handelsbanken PLC holds a fixed and floating charge and a negative pledge dated 18 October 2019 over G & S Projects Ltd on all monies, obligations and liabilities which may be due to Handelsbanken PLC now and in the future. (charge code 058235940018)
Handelsbanken PLC holds a fixed and floating charge and a negative pledge dated 18 October 2019 over G & S Projects Ltd on all monies, obligations and liabilities which may be due to Handelsbanken PLC now and in the future. (charge code 058235940017)
Paragon Bank PLC holds a fixed and floating charge and a negative pledge dated 3 April 2019 over G & S Projects Ltd on all monies, obligations and liabilities which may be due to Paragon Bank PLC now and in the future. (charge code 058235940015)
Paragon Bank PLC holds a fixed and floating charge and a negative pledge dated 2 April 2019 over G & S Projects Ltd on all monies, obligations and liabilities which may be due to Paragon Bank PLC now and in the future. (charge code 058235940014)
Paragon Bank PLC holds a fixed and floating charge and a negative pledge dated 19 March 2019 over G & S Projects Ltd on all monies, obligations and liabilities which may be due to Paragon Bank PLC now and in the future. (charge code 058235940013)
Paragon Bank PLC holds a fixed and floating charge and a negative pledge dated 19 March 2019 over G & S Projects Ltd on all monies, obligations and liabilities which may be due to Paragon Bank PLC now and in the future. (charge code 058235940012)
Paragon Bank PLC holds a fixed and floating charge and a negative pledge dated 19 March 2019 over G & S Projects Ltd on all monies, obligations and liabilities which may be due to Paragon Bank PLC now and in the future. (charge code 058235940011)
Paragon Bank PLC holds a fixed and floating charge and a negative pledge dated 19 March 2019 over G & S Projects Ltd on all monies, obligations and liabilities which may be due to Paragon Bank PLC now and in the future. (charge code 058235940010)
Paragon Bank PLC holds a fixed and floating charge and a negative pledge dated 19 March 2019 over G & S Projects Ltd on all monies, obligations and liabilities which may be due to Paragon Bank PLC now and in the future. (charge code 058235940009)
3. Average Number of Employees
Average number of employees, including directors, during the year was: 1 (2023: 1)
1 1
4. Tangible Assets
Plant & Machinery etc.
£
Cost
As at 1 December 2023 -
Additions 31,800
As at 30 November 2024 31,800
Net Book Value
As at 30 November 2024 31,800
As at 1 December 2023 -
Page 5
Page 6
5. Investment Property
2024
£
Fair Value
As at 1 December 2023 5,635,000
Additions 590,000
Disposals (200,000 )
As at 30 November 2024 6,025,000
6. Debtors
2024 2023
£ £
Due within one year
Amounts owed by group undertakings 55,662 136,017
Other debtors 43,709 -
99,371 136,017
7. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Net obligations under finance lease and hire purchase contracts 9,499 -
Trade creditors - 13,597
Bank loans and overdrafts 16,585 32,914
Amounts owed to group undertakings 837,941 469,608
Other creditors 2,593 362,820
Taxation and social security 29,508 28,749
896,126 907,688
8. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Net obligations under finance lease and hire purchase contracts 16,600 -
Bank loans 2,827,136 2,637,993
2,843,736 2,637,993
9. Obligations Under Finance Leases and Hire Purchase
2024 2023
£ £
The future minimum finance lease payments are as follows:
Not later than one year 9,499 -
Later than one year and not later than five years 16,600 -
26,099 -
26,099 -
Page 6
Page 7
10. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 2 2
11. Reserves
Revaluation Reserve
£
As at 1 December 2023 2,216,221
Deficit on revaluation (200,000)
As at 30 November 2024 2,016,221
Page 7