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Registered number: 05174747
G.B. Homes (Sw) Limited
Unaudited Financial Statements
For The Year Ended 31 July 2025
Howards Accountants
Suite 17
Camborne Business Centre
Camborne
Cornwall
TR14 7DB
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 05174747
2025 2024
as restated
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 30,737 12,680
30,737 12,680
CURRENT ASSETS
Stocks 5 725,000 1,030,420
Debtors 6 15,261 112
Cash at bank and in hand 130,000 342
870,261 1,030,874
Creditors: Amounts Falling Due Within One Year 7 (11,220 ) (137,493 )
NET CURRENT ASSETS (LIABILITIES) 859,041 893,381
TOTAL ASSETS LESS CURRENT LIABILITIES 889,778 906,061
PROVISIONS FOR LIABILITIES
Deferred Taxation (5,840 ) -
NET ASSETS 883,938 906,061
CAPITAL AND RESERVES
Called up share capital 8 100 100
Profit and Loss Account 883,838 905,961
SHAREHOLDERS' FUNDS 883,938 906,061
Page 1
Page 2
For the year ending 31 July 2025 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 Thomas Blight
Director
15th December 2025
The notes on pages 3 to 5 form part of these financial statements.
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Notes to the Financial Statements
1. General Information
G.B. Homes (Sw) Limited is a private company, limited by shares, incorporated in England & Wales, registered number 05174747 . The registered office is Suite 8 Weeth Lane, Camborne, Cornwall, TR14 7DB.
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 20%
Motor Vehicles 25%
Computer Equipment 25%
2.4. 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.
2.5. 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 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.
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2.6. Prior year adjustment
In the prior year, the company declared £86,000 as at 5 April 2024. However, the accounts reflected dividends voted of £72,957. Therefore, the company has restated the accounts on the basis the dividends voted increased by £13,043 which is reflected within the statement of income and retained earnings. 
Consequently, the balance of retained earnings brought forward from 2024 decreased from £919,104 to £906,061.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 3 (2024: 3)
3 3
4. Tangible Assets
Plant & Machinery Motor Vehicles Computer Equipment Total
£ £ £ £
Cost
As at 1 August 2024 8,428 34,812 323 43,563
Additions - 28,200 - 28,200
As at 31 July 2025 8,428 63,012 323 71,763
Depreciation
As at 1 August 2024 6,794 23,772 317 30,883
Provided during the period 327 9,810 6 10,143
As at 31 July 2025 7,121 33,582 323 41,026
Net Book Value
As at 31 July 2025 1,307 29,430 - 30,737
As at 1 August 2024 1,634 11,040 6 12,680
5. Stocks
2025 2024
as restated
£ £
Work in progress 725,000 1,030,420
6. Debtors
2025 2024
as restated
£ £
Due within one year
Other debtors 4,100 -
Corporation tax recoverable assets 11,119 -
VAT - 112
Other taxes and social security 42 -
15,261 112
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7. Creditors: Amounts Falling Due Within One Year
2025 2024
as restated
£ £
Bank loans and overdrafts 6,322 3,030
Other loans - 45,000
Corporation tax - 42,986
VAT 238 -
Credit Card 386 -
Accruals and deferred income 1,501 1,581
Director's loan account 2,773 44,896
11,220 137,493
8. Share Capital
2025 2024
as restated
£ £
Allotted, Called up and fully paid 100 100
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