Acorah Software Products - Accounts Production 16.5.460 false true 31 December 2023 1 January 2023 false 1 January 2024 31 December 2024 31 December 2024 07384401 Mr Paul Stanfield iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 07384401 2023-12-31 07384401 2024-12-31 07384401 2024-01-01 2024-12-31 07384401 frs-core:CurrentFinancialInstruments 2024-12-31 07384401 frs-core:Non-currentFinancialInstruments 2024-12-31 07384401 frs-core:BetweenOneFiveYears 2024-12-31 07384401 frs-core:ComputerEquipment 2024-12-31 07384401 frs-core:ComputerEquipment 2024-01-01 2024-12-31 07384401 frs-core:ComputerEquipment 2023-12-31 07384401 frs-core:FurnitureFittings 2024-12-31 07384401 frs-core:FurnitureFittings 2024-01-01 2024-12-31 07384401 frs-core:FurnitureFittings 2023-12-31 07384401 frs-core:LandBuildings frs-core:LeasedAssetsHeldAsLessee 2024-12-31 07384401 frs-core:LandBuildings frs-core:LeasedAssetsHeldAsLessee 2024-01-01 2024-12-31 07384401 frs-core:LandBuildings frs-core:LeasedAssetsHeldAsLessee 2023-12-31 07384401 frs-core:LandBuildings frs-core:OwnedOrFreeholdAssets 2024-12-31 07384401 frs-core:LandBuildings frs-core:OwnedOrFreeholdAssets 2024-01-01 2024-12-31 07384401 frs-core:LandBuildings frs-core:OwnedOrFreeholdAssets 2023-12-31 07384401 frs-core:MotorVehicles 2024-12-31 07384401 frs-core:MotorVehicles 2024-01-01 2024-12-31 07384401 frs-core:MotorVehicles 2023-12-31 07384401 frs-core:PlantMachinery 2024-12-31 07384401 frs-core:PlantMachinery 2024-01-01 2024-12-31 07384401 frs-core:PlantMachinery 2023-12-31 07384401 frs-core:WithinOneYear 2024-12-31 07384401 frs-core:RevaluationReserve 2024-12-31 07384401 frs-core:ShareCapital 2024-12-31 07384401 frs-core:RetainedEarningsAccumulatedLosses 2024-12-31 07384401 frs-bus:PrivateLimitedCompanyLtd 2024-01-01 2024-12-31 07384401 frs-bus:FilletedAccounts 2024-01-01 2024-12-31 07384401 frs-bus:SmallEntities 2024-01-01 2024-12-31 07384401 frs-bus:AuditExempt-NoAccountantsReport 2024-01-01 2024-12-31 07384401 frs-bus:SmallCompaniesRegimeForAccounts 2024-01-01 2024-12-31 07384401 frs-bus:Director1 2024-01-01 2024-12-31 07384401 frs-countries:EnglandWales 2024-01-01 2024-12-31 07384401 2022-12-31 07384401 2023-12-31 07384401 2023-01-01 2023-12-31 07384401 frs-core:CurrentFinancialInstruments 2023-12-31 07384401 frs-core:Non-currentFinancialInstruments 2023-12-31 07384401 frs-core:BetweenOneFiveYears 2023-12-31 07384401 frs-core:WithinOneYear 2023-12-31 07384401 frs-core:RevaluationReserve 2023-12-31 07384401 frs-core:ShareCapital 2023-12-31 07384401 frs-core:RetainedEarningsAccumulatedLosses 2023-12-31
Registered number: 07384401
Engineered Gaskets (UK) 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: 07384401
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 382,227 749,037
382,227 749,037
CURRENT ASSETS
Stocks 5 65,400 60,625
Debtors 6 383,116 321,156
448,516 381,781
Creditors: Amounts Falling Due Within One Year 7 (454,908 ) (601,408 )
NET CURRENT ASSETS (LIABILITIES) (6,392 ) (219,627 )
TOTAL ASSETS LESS CURRENT LIABILITIES 375,835 529,410
Creditors: Amounts Falling Due After More Than One Year 8 - (21,077 )
NET ASSETS 375,835 508,333
CAPITAL AND RESERVES
Called up share capital 10 100 100
Revaluation reserve - 157,702
Profit and Loss Account 375,735 350,531
SHAREHOLDERS' FUNDS 375,835 508,333
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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 Paul Stanfield
Director
23/06/2025
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
Engineered Gaskets (UK) Limited is a private company, limited by shares, incorporated in England & Wales, registered number 07384401 . The registered office is Newcroft Woodsetts Road, Gildingwells, Worksop, South Yorkshire, S81 8AU.
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 stated at cost less depreciation. 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:
Freehold Not depreciated
Leasehold Over length of lease
Plant & Machinery 25% reducing balance
Motor Vehicles 25% reducing balance
Fixtures & Fittings 25% reducing balance
Computer Equipment 25% reducing balance
2.4. 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.
2.5. 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.
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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 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.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 11 (2023: 12)
11 12
4. Tangible Assets
Land & Property
Freehold Leasehold Plant & Machinery Motor Vehicles
£ £ £ £
Cost
As at 1 January 2024 380,000 106,254 199,173 109,239
Additions - - 23,490 77,750
Disposals (380,000 ) - - (51,584 )
As at 31 December 2024 - 106,254 222,663 135,405
Depreciation
As at 1 January 2024 - - 30,322 25,130
Provided during the period - - 26,930 16,752
Disposals - - - (9,672 )
As at 31 December 2024 - - 57,252 32,210
Net Book Value
As at 31 December 2024 - 106,254 165,411 103,195
As at 1 January 2024 380,000 106,254 168,851 84,109
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Fixtures & Fittings Computer Equipment Total
£ £ £
Cost
As at 1 January 2024 7,944 8,179 810,789
Additions - - 101,240
Disposals - - (431,584 )
As at 31 December 2024 7,944 8,179 480,445
Depreciation
As at 1 January 2024 2,496 3,804 61,752
Provided during the period 1,362 1,094 46,138
Disposals - - (9,672 )
As at 31 December 2024 3,858 4,898 98,218
Net Book Value
As at 31 December 2024 4,086 3,281 382,227
As at 1 January 2024 5,448 4,375 749,037
5. Stocks
2024 2023
£ £
Stock 65,400 60,625
6. Debtors
2024 2023
£ £
Due within one year
Trade debtors 287,116 249,156
Prepayments and accrued income 46,000 22,000
Other debtors 50,000 50,000
383,116 321,156
7. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Net obligations under finance lease and hire purchase contracts 24,383 18,861
Trade creditors 316,667 300,651
Bank loans and overdrafts 78,175 23,519
Corporation tax - 2,867
Other taxes and social security 6,670 6,463
VAT 10,964 18,206
Other creditors 7,632 179,616
Accruals and deferred income 5,425 3,475
Director's loan account 4,992 47,750
454,908 601,408
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8. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Net obligations under finance lease and hire purchase contracts - 21,077
9. Obligations Under Finance Leases and Hire Purchase
2024 2023
£ £
The future minimum finance lease payments are as follows:
Not later than one year 24,383 18,861
Later than one year and not later than five years - 21,077
24,383 39,938
24,383 39,938
10. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 100 100
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