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 03689012 Mr Glenn Brooks iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 03689012 2023-12-31 03689012 2024-12-31 03689012 2024-01-01 2024-12-31 03689012 frs-core:CurrentFinancialInstruments 2024-12-31 03689012 frs-core:Non-currentFinancialInstruments 2024-12-31 03689012 frs-core:FurnitureFittings 2024-12-31 03689012 frs-core:FurnitureFittings 2024-01-01 2024-12-31 03689012 frs-core:FurnitureFittings 2023-12-31 03689012 frs-core:MotorVehicles 2024-12-31 03689012 frs-core:MotorVehicles 2024-01-01 2024-12-31 03689012 frs-core:MotorVehicles 2023-12-31 03689012 frs-core:PlantMachinery 2024-12-31 03689012 frs-core:PlantMachinery 2024-01-01 2024-12-31 03689012 frs-core:PlantMachinery 2023-12-31 03689012 frs-core:ShareCapital 2024-12-31 03689012 frs-core:RetainedEarningsAccumulatedLosses 2024-12-31 03689012 frs-bus:PrivateLimitedCompanyLtd 2024-01-01 2024-12-31 03689012 frs-bus:FilletedAccounts 2024-01-01 2024-12-31 03689012 frs-bus:SmallEntities 2024-01-01 2024-12-31 03689012 frs-bus:AuditExempt-NoAccountantsReport 2024-01-01 2024-12-31 03689012 frs-bus:SmallCompaniesRegimeForAccounts 2024-01-01 2024-12-31 03689012 frs-core:CostValuation 2023-12-31 03689012 frs-core:CostValuation 2024-12-31 03689012 frs-core:ProvisionsForImpairmentInvestments 2023-12-31 03689012 frs-core:ProvisionsForImpairmentInvestments 2024-12-31 03689012 frs-bus:Director1 2024-01-01 2024-12-31 03689012 frs-bus:Director1 2023-12-31 03689012 frs-bus:Director1 2024-12-31 03689012 frs-countries:EnglandWales 2024-01-01 2024-12-31 03689012 2022-12-31 03689012 2023-12-31 03689012 2023-01-01 2023-12-31 03689012 frs-core:CurrentFinancialInstruments 2023-12-31 03689012 frs-core:Non-currentFinancialInstruments 2023-12-31 03689012 frs-core:ShareCapital 2023-12-31 03689012 frs-core:RetainedEarningsAccumulatedLosses 2023-12-31
Registered number: 03689012
G.B Contracts Limited
Unaudited Financial Statements
For The Year Ended 31 December 2024
Square One
Chartered Certified Accountants
28 Glynn Road
Peacehaven
East Sussex
BN10 8AT
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—7
Page 1
Balance Sheet
Registered number: 03689012
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 128,842 77,748
Investment Properties 5 4,020,072 2,910,322
Investments 6 1 1
4,148,915 2,988,071
CURRENT ASSETS
Stocks 7 271,209 271,209
Debtors 8 178,216 635,312
Cash at bank and in hand 141,297 96,106
590,722 1,002,627
Creditors: Amounts Falling Due Within One Year 9 (729,751 ) (556,908 )
NET CURRENT ASSETS (LIABILITIES) (139,029 ) 445,719
TOTAL ASSETS LESS CURRENT LIABILITIES 4,009,886 3,433,790
Creditors: Amounts Falling Due After More Than One Year 10 (211,995 ) (255,235 )
PROVISIONS FOR LIABILITIES
Deferred Taxation (377,984 ) (368,276 )
NET ASSETS 3,419,907 2,810,279
CAPITAL AND RESERVES
Called up share capital 11 100 100
Profit and Loss Account 3,419,807 2,810,179
SHAREHOLDERS' FUNDS 3,419,907 2,810,279
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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 Glenn Brooks
Director
29th September 2025
The notes on pages 3 to 7 form part of these financial statements.
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Page 3
Notes to the Financial Statements
1. General Information
G.B Contracts Limited is a private company, limited by shares, incorporated in England & Wales, registered number 03689012 . The registered office is Gb Contracts Ltd Chelworth Industrial Estate, Cricklade, Swindon, SN6 6HQ.
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:
Plant & Machinery 25%, 20%, 15% & 10% on the reducing balance basis
Motor Vehicles 25% on the reducing balance basis
Fixtures & Fittings 25% & 10% on the reducing balance basis
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.
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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 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.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 1 (2023: 1)
1 1
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4. Tangible Assets
Plant & Machinery Motor Vehicles Fixtures & Fittings Total
£ £ £ £
Cost
As at 1 January 2024 404,305 16,636 20,153 441,094
Additions 28,571 45,883 22,465 96,919
Disposals (94,277 ) (16,636 ) (7,722 ) (118,635 )
As at 31 December 2024 338,599 45,883 34,896 419,378
Depreciation
As at 1 January 2024 328,514 16,636 18,196 363,346
Provided during the period 24,190 11,471 2,312 37,973
Disposals (86,425 ) (16,636 ) (7,722 ) (110,783 )
As at 31 December 2024 266,279 11,471 12,786 290,536
Net Book Value
As at 31 December 2024 72,320 34,412 22,110 128,842
As at 1 January 2024 75,791 - 1,957 77,748
5. Investment Property
2024
£
Fair Value
As at 1 January 2024 2,910,322
Additions 1,200,000
Disposals (90,250 )
As at 31 December 2024 4,020,072
6. Investments
Subsidiaries
£
Cost or Valuation
As at 1 January 2024 1
As at 31 December 2024 1
Provision
As at 1 January 2024 -
As at 31 December 2024 -
...CONTINUED
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Net Book Value
As at 31 December 2024 1
As at 1 January 2024 1
7. Stocks
2024 2023
£ £
Stock 271,209 271,209
8. Debtors
2024 2023
£ £
Due within one year
Trade debtors 25,868 41,073
Amounts owed by group undertakings - 379,050
Other debtors 152,348 215,189
178,216 635,312
9. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 3,291 1,870
Bank loans and overdrafts 100,000 100,000
Other creditors 597,290 452,681
Taxation and social security 29,170 2,357
729,751 556,908
10. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Bank loans 211,995 255,235
11. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 100 100
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12. 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 Glenn Brooks (42,847 ) 79,796 - - 36,949
The above loan is unsecured, interest free and repayable on demand.
The loan was reapid in full on XXXXXXX
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