Acorah Software Products - Accounts Production 16.5.460 false true 31 December 2023 1 April 2023 false 1 January 2024 31 December 2024 31 December 2024 07557777 Mr Antonio Cinus Mr Alessandro Cappai iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 07557777 2023-12-31 07557777 2024-12-31 07557777 2024-01-01 2024-12-31 07557777 frs-core:CurrentFinancialInstruments 2024-12-31 07557777 frs-core:Non-currentFinancialInstruments 2024-12-31 07557777 frs-core:BetweenOneFiveYears 2024-12-31 07557777 frs-core:ComputerEquipment 2024-12-31 07557777 frs-core:ComputerEquipment 2024-01-01 2024-12-31 07557777 frs-core:ComputerEquipment 2023-12-31 07557777 frs-core:FurnitureFittings 2024-12-31 07557777 frs-core:FurnitureFittings 2024-01-01 2024-12-31 07557777 frs-core:FurnitureFittings 2023-12-31 07557777 frs-core:MoreThanFiveYears 2024-12-31 07557777 frs-core:MotorVehicles 2024-12-31 07557777 frs-core:MotorVehicles 2024-01-01 2024-12-31 07557777 frs-core:MotorVehicles 2023-12-31 07557777 frs-core:PlantMachinery 2024-12-31 07557777 frs-core:PlantMachinery 2024-01-01 2024-12-31 07557777 frs-core:PlantMachinery 2023-12-31 07557777 frs-core:WithinOneYear 2024-12-31 07557777 frs-core:ShareCapital 2024-12-31 07557777 frs-core:RetainedEarningsAccumulatedLosses 2024-12-31 07557777 frs-bus:PrivateLimitedCompanyLtd 2024-01-01 2024-12-31 07557777 frs-bus:FilletedAccounts 2024-01-01 2024-12-31 07557777 frs-bus:SmallEntities 2024-01-01 2024-12-31 07557777 frs-bus:AuditExempt-NoAccountantsReport 2024-01-01 2024-12-31 07557777 frs-bus:SmallCompaniesRegimeForAccounts 2024-01-01 2024-12-31 07557777 frs-core:UnlistedNon-exchangeTraded 2024-12-31 07557777 frs-core:UnlistedNon-exchangeTraded 2023-12-31 07557777 frs-core:CostValuation frs-core:UnlistedNon-exchangeTraded 2023-12-31 07557777 frs-core:AdditionsToInvestments frs-core:UnlistedNon-exchangeTraded 2024-12-31 07557777 frs-core:CostValuation frs-core:UnlistedNon-exchangeTraded 2024-12-31 07557777 frs-core:ProvisionsForImpairmentInvestments frs-core:UnlistedNon-exchangeTraded 2023-12-31 07557777 frs-core:ProvisionsForImpairmentInvestments frs-core:UnlistedNon-exchangeTraded 2024-12-31 07557777 frs-bus:Director1 2024-01-01 2024-12-31 07557777 frs-bus:Director2 2024-01-01 2024-12-31 07557777 frs-countries:EnglandWales 2024-01-01 2024-12-31 07557777 2023-03-31 07557777 2023-12-31 07557777 2023-04-01 2023-12-31 07557777 frs-core:CurrentFinancialInstruments 2023-12-31 07557777 frs-core:Non-currentFinancialInstruments 2023-12-31 07557777 frs-core:BetweenOneFiveYears 2023-12-31 07557777 frs-core:MoreThanFiveYears 2023-12-31 07557777 frs-core:WithinOneYear 2023-12-31 07557777 frs-core:ShareCapital 2023-12-31 07557777 frs-core:RetainedEarningsAccumulatedLosses 2023-12-31
Registered number: 07557777
GELATO LINE LIMITED
Unaudited Financial Statements
For The Year Ended 31 December 2024
Craughwell & Co
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—7
Page 1
Balance Sheet
Registered number: 07557777
31 December 2024 31 December 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 176,369 224,786
Investments 5 25,010 25,000
201,379 249,786
CURRENT ASSETS
Stocks 6 95,400 90,900
Debtors 7 100,495 174,412
Cash at bank and in hand 565,637 366,415
761,532 631,727
Creditors: Amounts Falling Due Within One Year 8 (135,731 ) (85,883 )
NET CURRENT ASSETS (LIABILITIES) 625,801 545,844
TOTAL ASSETS LESS CURRENT LIABILITIES 827,180 795,630
Creditors: Amounts Falling Due After More Than One Year 9 (43,119 ) (75,567 )
PROVISIONS FOR LIABILITIES
Deferred Taxation (41,877 ) (48,743 )
NET ASSETS 742,184 671,320
CAPITAL AND RESERVES
Called up share capital 11 100 100
Profit and Loss Account 742,084 671,220
SHAREHOLDERS' FUNDS 742,184 671,320
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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 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 Antonio Cinus
Director
30/09/2025
The notes on pages 3 to 7 form part of these financial statements.
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Notes to the Financial Statements
1. General Information
GELATO LINE LIMITED is a private company, limited by shares, incorporated in England & Wales, registered number 07557777 . The registered office is 99 Elsenham Street, Southfields, London, SW18 5NY.
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.
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 20% straight line
Motor Vehicles 25% reducing balance
Fixtures & Fittings 20% straight line
Computer Equipment 33% straight line
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.
2.6. Foreign Currencies
Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate ruling on the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
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2.7. 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: 11 (2023: 9)
11 9
4. Tangible Assets
Plant & Machinery Motor Vehicles Fixtures & Fittings Computer Equipment Total
£ £ £ £ £
Cost
As at 1 January 2024 200,809 126,476 15,950 4,580 347,815
Additions 34,312 - - 4,273 38,585
Disposals - (17,976 ) - - (17,976 )
As at 31 December 2024 235,121 108,500 15,950 8,853 368,424
Depreciation
As at 1 January 2024 76,236 33,879 10,740 2,174 123,029
Provided during the period 44,541 25,351 3,098 2,713 75,703
Disposals - (6,677 ) - - (6,677 )
As at 31 December 2024 120,777 52,553 13,838 4,887 192,055
Net Book Value
As at 31 December 2024 114,344 55,947 2,112 3,966 176,369
As at 1 January 2024 124,573 92,597 5,210 2,406 224,786
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5. Investments
Unlisted
£
Cost
As at 1 January 2024 25,000
Additions 10
As at 31 December 2024 25,010
Provision
As at 1 January 2024 -
As at 31 December 2024 -
Net Book Value
As at 31 December 2024 25,010
As at 1 January 2024 25,000
6. Stocks
31 December 2024 31 December 2023
£ £
Stock 95,400 90,900
7. Debtors
31 December 2024 31 December 2023
£ £
Due within one year
Trade debtors 81,871 166,716
Prepayments and accrued income 2,117 3,410
Other debtors 3,485 3,485
VAT 9,621 -
Directors' loan accounts 2,543 -
Amounts owed by associates - 801
99,637 174,412
Due after more than one year
Corporation tax recoverable assets 858 -
100,495 174,412
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8. Creditors: Amounts Falling Due Within One Year
31 December 2024 31 December 2023
£ £
Net obligations under finance lease and hire purchase contracts 15,792 22,981
Trade creditors 17,314 19,284
Bank loans and overdrafts 9,757 9,901
Corporation tax 31,716 10,978
Other taxes and social security 6,430 4,518
VAT - 1,953
Other creditors 2,474 1,459
Accruals and deferred income 1,800 3,600
Directors' loan accounts 1,200 1,477
Amounts owed to associates 49,248 9,732
135,731 85,883
9. Creditors: Amounts Falling Due After More Than One Year
31 December 2024 31 December 2023
£ £
Net obligations under finance lease and hire purchase contracts 38,709 61,301
Bank loans 4,410 14,266
43,119 75,567
10. Obligations Under Finance Leases and Hire Purchase
31 December 2024 31 December 2023
£ £
The future minimum finance lease payments are as follows:
Not later than one year 16,629 24,036
Later than one year and not later than five years 39,495 62,938
56,124 86,974
Less: Finance charges allocated to future periods 1,623 2,692
54,501 84,282
11. Share Capital
31 December 2024 31 December 2023
£ £
Allotted, Called up and fully paid 100 100
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12. Other Commitments
The total of future minimum lease payments under non-cancellable operating leases are as following:
31 December 2024 31 December 2023
£ £
Not later than one year 12,000 12,000
Later than one year and not later than five years 48,000 48,000
Later than five years 39,000 51,000
99,000 111,000
13. Directors Advances, Credits and Guarantees
Included within Debtors is an amount due from the director Alessandro Cappai of £2,543. Included within Creditors is an amount due to the director Antonio Cinus of £1,200.
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